Update/correction to the previous post: AAVE ($LEND) surpassed the 2nd position in the portfolio yesterday, cashed out the original risk capital ~$25K) and holding all the profits 200K of AAVE ($LEND). The 200K of AAVE is about $2K away from surpassing 10 bitcoins valuation so it might become #2 again, either if btc/usd goes down or AAVE goes up in USD price (and on a crypto-related correction, AAVE has surpassed Synthetix SNX in total locked value (USD) and is now #2 and gaining very fast at surpassing the gorilla in the DeFi space Maker MKR. When I bought AAVE, it was at about $150M locked value USD, so the AAVE price is reflective of their growth and market adoption in the DeFi space, fwiw https://defipulse.com/ )
Bitcoin above $12k today, wonder if we can stay above this? GBTC traded 52-week high. https://finance.yahoo.com/quote/GBTC?p=GBTC https://grayscale.co/?utm_medium=pr&utm_source=release&utm_campaign=2020_h2_brand_hom#watch
I don't think we are going to hold. Albeit arguably we might be posting a short term bottom right now! SPX500 is looking toppy. BTC left no supports on the way up, if we dump we going straight below 10k imo. There is a high likelihood that the lend too has topped. BTC went into resistance and dominance is at support on weekly charts(volatility!!!). GOOD LUCK
Thanks. I don't see (or don't want) btc below $10K but it's possible. AAVE is long-term hold, it's all profits for me. Sold most of my $BAND over 2x today (but it was a 3x+ last week) , as it was a $LINK sympathy play, not a long-term hold, wish I also sold $OCEAN today, but sold it way too early last week, but profit$ is profit$, could have been an almost 3-bagger instead of less than 2x. Good luck to you, too, especially if you're shorting btc in this bull market, I think it's much easier to trade on the long side, but what do I know, I can't read a chart if my life depended on it.
https://finance.yahoo.com/news/fidelity-seeks-sec-approval-bitcoin-090214217.html Fidelity Investments is coming up with a new fund specifically for Bitcoin...... .....In a survey published in June 2020 spanning 800 institutional investors in the US and Europe, almost 60% of the respondents claimed that they would include digital assets in their portfolio and 91% were open to cryptocurrency exposure.
I could be wrong but it seems like next month will be good for cryptos. Bitcoin... But i also like those old school coins. EOS/btc(on higher timeframes) looks pretty good to me. XRP also. I saw people trying to catch the knife on EOS, they were buying at 3.7$, adding at 3.4$ and it just kept going down and down until they couldn't take it anymore and were stopped at the bottom below 3$. So we are probably ready for a lift-off.
Bitcoin price related post: Bitcoin is not the highest-priced crypto, it's Yearn Finance $YFI (this coin has a very small supply, so it has a smaller market cap than $BTC). https://coinmarketcap.com/currencies/yearn-finance/ I don't have any YFI, but they had some news that almost got me to buy one, at around $10K a few days ago something to the effect that it will be accepted for deposit on the AAVE platform with interest rate of 40% APY so it can function as a savings account and causing a big crunch on the available YFI tokens for sale in the market , anyways, none of these I put too much effort to confirm, was busy with other life stuff and other crypto coins (rebalanced my portfolio heavily). I did look on the AAVE platform just now and don't see YFI as a coin deposit option, maybe the news was the announcement for the near future.
So u guys just trading DeFi these days? Not accumulating ADA or getting sucked into one ecosystem long term?
I had never looked at Crypto till a few months ago when an old friend asked me to help him with some of his crypto hoard. All the alt-coins seem to behave like manipulated penny stocks to me, except they trade on the weekend. Since you mentioned ADA, below is a screen shot of my most recent ADA trades.
Yes.. they move like penny stocks being influenced by the big BTC brother but the feeling is they are like dot com startups waiting to explode... yet to see how central bank intervention at some point will change the landscape... in the meantime just accumulating small quantities... I want to accumulate more if I know for sure some will be the next Amazon etc... now regarding trading the fees seem high on Coinbase for trading them (also is there really an edge??) - seems price action guessing