Fud going around that the US will file charges against Binance Binance US and CZ... May close my Btc perp futures position on this and might even consider going short Eth perps , NFA
Yeah it's spun around and done the dirty, I'm going to give it a day to play out and dump if it stays down.
The recent processing backlog and higher transaction fees might have something to do with it too. https://decrypt.co/139259/bitcoin-ddos-ordinals-inscriptions-attack
I don't know if the rumor is real and if it is real, it would depend on the extent of the charges It can be pretty bad if Binance has to shut down or even if the Binance Smart Chain has to shutdown or if there are criminal charges against CZ I have not done anything, yet, looking around for more info.
Yes, this doesn't help, but a true bitcoiner will not be against ordinals or nft's or anything on the bitcoin blockchain. It's part of the permissionless decentralized network I've made several transactions on the bitcoin mainnet for the past few days and fees are elevated, less than $20 tx fees I also paid over $100 to swap on Uniswap several times today and yesterday and the day before, so it's not a big deal to me
No need to tell me. Kinda regret getting out of my earlier short. Anyway, we should see 23K before all this rain stops. I made a prediction about this elsewhere. Fingers crossed.
Pepe not looking good. Might be a good idea to bail out of longs and re enter should it go above the previous days high. Everything is choppy atm.
One of my posts you responded to was actually a rhetorical question, "how do tradfi people trade a crypto asset like Pepe that is very volatile"? The way I do it and others may have their methods is to treat it like an asymmetric risk/reward investment, all or nothing, or more often than not, a big loss or a big return When I first got to Pepe, it was about 3 weeks ago and I posted here, it crashed the next day, went down about 50%. and I tripled my investment from to about $7k (did not enter the yield farm until a week later, so I'll separate that as a position, that yield farm actually returned all risk capital on Pepe plus a little bit of profits) $7k went to $42k, then it pulled back to $20-something k, then it went to $50k, I posted here, then it went to $72k within 2 hours, then that night I closed the yield farm but the $7k has gone up to over $130k by the morning and I cashed out, a little bit, posted here $100k down to $50k right now. But if you look at paragraphs above, I am incapable of timing tops and re-entering when it crashes, so as Jesse Livermore has said... It was always my sitting that made the most money So I sit on my Pepe position for now... There is good news, I cashed out about $5k profits on Mong position earlier today... the bad news was that it was about $17k profits after the first day I had it