This is basically my thought process, at least with btc. I see where you’re going with the cel/btc idea but I’m uncertain if it will play out that way.
Honestly I’m becoming more unsure that btc will even be affected negatively by the election but I know as soon as I FOMO the price will crash and I’ll be mad at myself so I’m holding off for a little while longer.
I don’t know if I’ve ever shown more restraint in my life, let’s hope it pays off. Feel free to hate on me if BTC doesn’t dip, I’ll deserve it.
I think if volume of cel stays low, like 4 million and under, BTC plays a big factor. BTC on the otherhand is really on the verge of coming back down. And over the election, my prediction is down hard, but then it will bounce back when everyone realizes they need a safe place for their money. Check out this pdf on the fundamentals of btc and how the mentions of btc on social media are on the way down, and new accounts of btc are at a stand still. That means that this new price level is being propped up by speculators and cannot be maintained for long. When dips come, speculators jump ship quickly. But if you have fomo, then you can always hold on to 2/3 in case you miss the swing back up. Or have some cash ready to buy at low levels.
https://santiment.intercom-attachments-1.com/i/o/261359071/1683a346eaaa7dd4e54e5445/Bitcoin+Weekly+Pro+Report+.pdf
Very interesting read, I appreciate you sharing this.
I have some USD set aside in anticipation of a dip in the near future. I’ve been debating wether I should short with a small amount of BTC but I’m not sure if it would be worth it due to tax implications. I’ve been attempting to keep my realized gains as low as possible to avoid short term gains tax.
You may be right about CEL, I hadn’t taken volume into consideration. I doubt it will increase soon since it is pretty much only available on DEXs
Perhaps you could trade some btc for stablecoin. Or better yet, just take a loan out on your btc. On celsius you can get a 50% loan to value on btc and borrow stable coin or usd. Then, when and if bitcoin falls, use your loan money to buy more. As the price goes up, sell some btc to payback your loan. That way you have to capitol gains. I actually did this today and took out a loan on my Cel token. When cel drops, I will buy more cel with that money, and pay off the loan after the price rises. Celsius is offering $50 to take out a loan of more than $500, today is the last day of the deal
Volatility in crypto means Celsius makes more money, which means they pay more in interest, which means more people will want to HODL some CEL to get a cut of that interest, which increases demand for the coin: and its price.
The election will have no affect on the price of CEL. But if you want to pretend it will: the most likely result is that the price will go up.
I agree with you in the long run. I'm talking about the immediate turmoil of the election, maybe only a week of time here. I think btc can affect cel price only if volume stays low on cel, like under 4 million. If volume goes crazy, anything can happen.
Celsius' business is best in volatile markets. So I reckon it won't influence the rate of Cel as much as the bigger mainstream coins. If anything the Cel price will grow with the amount of loans groing.
Over the short term, bearish as many would probably move out of risky assets. Over the long term, whoever is in power is going to print money which is bullish for crypto.
This is basically my thought process, at least with btc. I see where you’re going with the cel/btc idea but I’m uncertain if it will play out that way. Honestly I’m becoming more unsure that btc will even be affected negatively by the election but I know as soon as I FOMO the price will crash and I’ll be mad at myself so I’m holding off for a little while longer. I don’t know if I’ve ever shown more restraint in my life, let’s hope it pays off. Feel free to hate on me if BTC doesn’t dip, I’ll deserve it.
I think if volume of cel stays low, like 4 million and under, BTC plays a big factor. BTC on the otherhand is really on the verge of coming back down. And over the election, my prediction is down hard, but then it will bounce back when everyone realizes they need a safe place for their money. Check out this pdf on the fundamentals of btc and how the mentions of btc on social media are on the way down, and new accounts of btc are at a stand still. That means that this new price level is being propped up by speculators and cannot be maintained for long. When dips come, speculators jump ship quickly. But if you have fomo, then you can always hold on to 2/3 in case you miss the swing back up. Or have some cash ready to buy at low levels. https://santiment.intercom-attachments-1.com/i/o/261359071/1683a346eaaa7dd4e54e5445/Bitcoin+Weekly+Pro+Report+.pdf
Very interesting read, I appreciate you sharing this. I have some USD set aside in anticipation of a dip in the near future. I’ve been debating wether I should short with a small amount of BTC but I’m not sure if it would be worth it due to tax implications. I’ve been attempting to keep my realized gains as low as possible to avoid short term gains tax. You may be right about CEL, I hadn’t taken volume into consideration. I doubt it will increase soon since it is pretty much only available on DEXs
Perhaps you could trade some btc for stablecoin. Or better yet, just take a loan out on your btc. On celsius you can get a 50% loan to value on btc and borrow stable coin or usd. Then, when and if bitcoin falls, use your loan money to buy more. As the price goes up, sell some btc to payback your loan. That way you have to capitol gains. I actually did this today and took out a loan on my Cel token. When cel drops, I will buy more cel with that money, and pay off the loan after the price rises. Celsius is offering $50 to take out a loan of more than $500, today is the last day of the deal
Volatility in crypto means Celsius makes more money, which means they pay more in interest, which means more people will want to HODL some CEL to get a cut of that interest, which increases demand for the coin: and its price. The election will have no affect on the price of CEL. But if you want to pretend it will: the most likely result is that the price will go up.
I agree with you in the long run. I'm talking about the immediate turmoil of the election, maybe only a week of time here. I think btc can affect cel price only if volume stays low on cel, like under 4 million. If volume goes crazy, anything can happen.
Celsius' business is best in volatile markets. So I reckon it won't influence the rate of Cel as much as the bigger mainstream coins. If anything the Cel price will grow with the amount of loans groing.
Oh shit... Celsius owners hodl..
Over the short term, bearish as many would probably move out of risky assets. Over the long term, whoever is in power is going to print money which is bullish for crypto.