Cryptocurrencies Part III - We ran as if to meet the Moon

[S E P H]

I do have some ADAs and XRPs, but not many.
My question is more if I should take some profit now and then or hold long terms since I don't really need the profit money right now. And if I hold, what should I target? I have roughly 50% of my wallet in ETH and 50% in BTC, and very little in ADA and XRP.

That's tough because as @Gardner McKay mentioned we're entering new territory for a lot of these cryptos. Look at Ethereum, the highest it ever was $1,500, but now it's 4K. XRP for one example's highest level was $3.84 and I think it's very safe to believe that it can reach back there in the future, especially when the rubbish lawsuit gets dropped by the SEC (which isn't even effecting the coin, more the owners). Litecoin should also be reaching its all-time high too at $370 bucks as well. Theta is the one we should've all invested in, it was like 8 cents for a long time and now it's like $13 bucks.

You mean Ether that is where his money should have been in. Could have almost tripled his money if he bought eth in early March. And ether still has the highest potential and likelihood to hit it out all of the alts you named.

Mate, Ethereum is amazing, no one has ever doubt it, but you can maximise your profits with the next Theta than with ETH at the current moment. IMHO, ETH isn't really the one to invest into except if you think it can go to 10-15K. Where do you think it's going to go?

 

[The Crypto Guy]

That's tough because as @Gardner McKay mentioned we're entering new territory for a lot of these cryptos. Look at Ethereum, the highest it ever was $1,500, but now it's 4K. XRP for one example's highest level was $3.84 and I think it's very safe to believe that it can reach back there in the future, especially when the rubbish lawsuit gets dropped by the SEC (which isn't even effecting the coin, more the owners). Litecoin should also be reaching its all-time high too at $370 bucks as well. Theta is the one we should've all invested in, it was like 8 cents for a long time and now it's like $13 bucks.

Mate, Ethereum is amazing, no one has ever doubt it, but you can maximise your profits with the next Theta than with ETH at the current moment. IMHO, ETH isn't really the one to invest into except if you think it can go to 10-15K. Where do you think it's going to go?

True but it’s about as safe as you can get.

I think in 5 years it could be around 10k-20k if everything goes right.

 

[S E P H]

True but it’s about as safe as you can get.

I think in 5 years it could be around 10k-20k if everything goes right.

I think we're going to agree to disagree, not with where Ethereum is going, but if it's a proper invest now. Personally speaking, you'll have more reward starting with something like 20 cents and hoping the coin does well and moves to ten bucks or so in the long run. There's a ton of terrible alt coins out there, but I also think not every single alt is bad though.

 

[The Crypto Guy]

I think we're going to agree to disagree, not with where Ethereum is going, but if it's a proper invest now. Personally speaking, you'll have more reward starting with something like 20 cents and hoping the coin does well and moves to ten bucks or so in the long run. There's a ton of terrible alt coins out there, but I also think not every single alt is bad though.

Oh I absolutely agree there are definitely a few of those Alts that could definitely give you much better returns over the next 1-2 years. Like you said though you have to find those, everyone is trying to hit the jackpot on picking the right one.

I will admit I did put a nice chunk of change into ADA at .70. I think that has some great potential.

 

[S E P H]

Oh I absolutely agree there are definitely a few of those Alts that could definitely give you much better returns over the next 1-2 years. Like you said though you have to find those, everyone is trying to hit the jackpot on picking the right one.

I will admit I did put a nice chunk of change into ADA at .70. I think that has some great potential.

Hell ya mate! That's a beast move there, my friend did the same thing with Theta but got out because of the crypto crash/bear run in 2019/20-ish. He regrets it because he could've been retired in the high thirties if he decided to stay with it long-term. I wish I had a bit more faith in Ethereum at the time because it was 150 bucks at one point. That is like a trillion percent increase (lol) to what it is now. Yeah finding the next Ethereum or Chainlink will be extremely difficult, but honestly what we need is people to believe in something and it will increase (Look at Brasil and how they stopped debt). We both agree that dogecoin is ridiculously stupid AF, but hey if people want to pull a "Gamestop" I am totally down with it.

What's your opinion of Chainlink and do you think it can go any higher?

 

[The Crypto Guy]

Hell ya mate! That's a beast move there, my friend did the same thing with Theta but got out because of the crypto crash/bear run in 2019/20-ish. He regrets it because he could've been retired in the high thirties if he decided to stay with it long-term. I wish I had a bit more faith in Ethereum at the time because it was 150 bucks at one point. That is like a trillion percent increase (lol) to what it is now. Yeah finding the next Ethereum or Chainlink will be extremely difficult, but honestly what we need is people to believe in something and it will increase (Look at Brasil and how they stopped debt). We both agree that dogecoin is ridiculously stupid AF, but hey if people want to pull a "Gamestop" I am totally down with it.

What's your opinion of Chainlink and do you think it can go any higher?

Haha oh trust me, we are all kicking ourselves for moves we should have made a few years ago...or even back in March 2020, we would all be rich millionaires if we new what type of quick growth was coming over the next year!

Chainlink is definitely one of the few on my radar that has very good growth potential. If it were 2017 I probably would be throwing money into that as well but this time around my plan was pretty much to just go in hard over a few aside from Ether. In 2017 i put so much money in projects that never really went anywhere (CVC, BAT, OMG, GLM, and the one @Gardner McKay recommended but right now i'm blanking on the name). Really regret switching so much of my Ether for all those things back in the day but what's done is done.

All I have left is a Ether (HUGE majority by far), a big chunk of ADA, and two that I kept from 2017 with NEO and XLM.

 

[Gardner McKay]

Haha oh trust me, we are all kicking ourselves for moves we should have made a few years ago...or even back in March 2020, we would all be rich millionaires if we new what type of quick growth was coming over the next year!

Chainlink is definitely one of the few on my radar that has very good growth potential. If it were 2017 I probably would be throwing money into that as well but this time around my plan was pretty much to just go in hard over a few aside from Ether. In 2017 i put so much money in projects that never really went anywhere (CVC, BAT, OMG, GLM, and the one @Gardner McKay recommended but right now i'm blanking on the name). Really regret switching so much of my Ether for all those things back in the day but what's done is done.

All I have left is a Ether (HUGE majority by far), a big chunk of ADA, and two that I kept from 2017 with NEO and XLM.

NVO. That was sad for many of us, including me At least we were refunded from escrow accounts but still.

 

[CokenoPepsi]

I just sold my ETH... Lost over 10k in gains past couple days, still made small 5 figures.

Guess I don't have diamond hands

Fun first time in crypto

 

[The Crypto Guy]

I just sold my ETH... Lost over 10k in gains past couple days, still made small 5 figures.

Guess I don't have diamond hands

Fun first time in crypto

I definitely would not of touched Ether until July 14th, but congrats on the profits!

 

[CokenoPepsi]

I definitely would not of touched Ether until July 14th, but congrats on the profits!

Yeah I'm a bit unsure but this is my first time in the market.

Hope not a big mistake lol, maybe it will drop a bit more and I can get back in with a little more

 

[Gardner McKay]

Yeah I'm a bit unsure but this is my first time in the market.

Hope not a big mistake lol, maybe it will drop a bit more and I can get back in with a little more

Well, you have to do what is right for you. Some people can stomach watching 5 and 6 figure gains get evaporated on a daily basis... being in crypto for a while will do that to you

Congrats on the profit!

 

[Adam Warlock]

How far is BTC expected to fall? Trying to decide if I should buy more now around 42k or if there is going to be another drop before it starts going back up.

Been in the crypto game a few months now and I finally have a feel for which coins I wanna invest...but seems like I invested in some too high tho. Would love to balance that out by buying on this dip.

 

[CokenoPepsi]

This is still smaller than the dip in February.

If it falls another $100 I am thinking about buying back in which would give me another half

 

[The Crypto Guy]

How far is BTC expected to fall? Trying to decide if I should buy more now around 42k or if there is going to be another drop before it starts going back up.

Been in the crypto game a few months now and I finally have a feel for which coins I wanna invest...but seems like I invested in some too high tho. Would love to balance that out by buying on this dip.

Haha nobody knows, if we did we would all be rich!

 

[x Tame Impala]

ETH, ADA, XLM

In it for the long haul and am going to gradually and slowly put my money into all of these over the next year or so.

I took a week off from checking my Coinbase account last week and it was a great feeling. Crypto =/= life and i was getting too obsessive with it.

 

[The Crypto Guy]

ETH, ADA, XLM

In it for the long haul and am going to gradually and slowly put my money into all of these over the next year or so.

I took a week off from checking my Coinbase account last week and it was a great feeling. Crypto =/= life and i was getting too obsessive with it.

Three great choices! Those are 3 of my top 4 as well.

 

[x Tame Impala]

Three great choices! Those are 3 of my top 4 as well.

I like Algorand too and am looking for a means to have a stake in the NFT game but don't know how to decide. But i'm very happy with those three as mid-long term investments

 

[The Crypto Guy]

I like Algorand too and am looking for a means to have a stake in the NFT game but don't know how to decide. But i'm very happy with those three as mid-long term investments

Heh, and Algo is my 5th choice. Another good choice. Only one not listed that I have is NEO, but I bought that in 2017 that i've just been holding onto.

 

[acrobaticgoalie]

Hey guys, I'm a new crypto investor. I have heard 2 different stories after talking to my friends who are crypto investors. One says you get taxed on every sell transaction on Binance. The other says you don't get taxed until you withdraw your earnings from Binance and put it back into your bank account. We are in Canada for reference. Can someone please clarify for me?

 

[ItsFineImFine]

Hey guys, I'm a new crypto investor. I have heard 2 different stories after talking to my friends who are crypto investors. One says you get taxed on every sell transaction on Binance. The other says you don't get taxed until you withdraw your earnings from Binance and put it back into your bank account. We are in Canada for reference. Can someone please clarify for me?

You can invest in an ETF which can be purchased within a TFSA account (eg a Wealthsimple Trade TFSA or a Questrade TFSA). Huge bonus in Canada because the US has not yet approved any crypto ETF. So basically any purchases you make within this are tax free.

You do not own the actual coin since it's an ETF representing the value of the coin which is the con and you can only purchase during stock market hours (930 - 4 EST) but the convenience factor and the lack of worrying about taxes make it worth it imo. There's also a small annual fee but again I think it's worth it because it is quite a small fee. For example on the BTCX index fund which represents the value of Bitcoin or on the ETHX fund which represents ethereum, the % fee is only 0.40% I think.

Really an easy simple way for Canadians to get into this if they're investing in crypto more for the potential value rather than to actually use.

 

[The Crypto Guy]

Hey guys, I'm a new crypto investor. I have heard 2 different stories after talking to my friends who are crypto investors. One says you get taxed on every sell transaction on Binance. The other says you don't get taxed until you withdraw your earnings from Binance and put it back into your bank account. We are in Canada for reference. Can someone please clarify for me?

Not sure what it is for Canada but I know in the US it's definitely taxed for every transaction (for example if you trade Bitcoin for Ether, or Bitcoin for Fiat). Transferring back to you bank account is not when the tax occurrence occurs, happens before that.

 

[CokenoPepsi]

Well I couldn't stay away and had to get back in today, switched up my portfolio a bit.
Instead of all in on ETH I am now just mostly all in on ETH with some chain link and Cardano too.

 

[CokenoPepsi]

There is blood

 

[acrobaticgoalie]

How low will Cardano dip here?

 

[John Price]

Crypto crashing

WHAT DID YOU DO ELON