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Post by piggy pablo on Apr 14, 2021 12:38:35 GMT -5
People tend to save windfalls ie invest. People don't have to cash out investments to spend money if they're earning wages. The people who can afford to invest their stimulus are the ones who are still making enough money to get by without the government checks.
People tend to save windfalls ie invest. People don't have to cash out investments to spend money if they're earning wages. The people who can afford to invest their stimulus are the ones who are still making enough money to get by without the government checks.
Haha I bought $10 of Doge at .07 and sold at .08. Considered getting in last night at .22 but didn't. There's a part of me that's like Ooh what if I had just left it in there or invested more etc etc, but I try to remind myself that for me it's literally just gambling. Especially with a meme stock. Sincerely happy for y'all (and admittedly a little jealous), but I just can't put anything even remotely close to real money into this. I'm already getting burned by APHA, though I think that might eventually rebound.
All stocks/cryptos/etc. are meme stocks. Just go down the line, Live Nation, Doge, BTC, Marriott, Hilton, all at all-time highs. It's all a meme, might as well ride the wave and make a bunch of money, whether thats an index fund or crypto.
yeah I'm more bullish on USD than you are but I have seen this line of thinking and doubling down on crypto in this case makes sense.
Maybe but there's also the argument that the crypto market is being pumped by Tether so the crypto market may end up not being as much of a safe haven as some believe. If it really is being pumped by Tether then I imagine any crash affecting USD would at least somewhat steep into the crypto market. And to be clear, I dont think it will happen yet but I do think itll be a pretty sizeable crash since like I said earlier a lot of the investment is coming from monopoly money
The US is the top crypto market in the world, right? So any crash affects both (though obviously more people if the dollar crashed because 100% of Americans depend on the dollar). But I wouldn't get hung up on monopoly money. It's been that way since at least the Reagan era and financed deficits. There are always crashes and corrections, but don't think that if the infrastructure bill passes that it won't buy us overall upward momentum for the next several years, and strong momentum at that. Shit happens (pandemic, wars, etc.). And maybe one day the dollar is f'd for good. Recommendation is to manage your crypto positions, but don't depend on them for your future. Make some money and keep some of those profits invested just in case coin x blows up.
I bought $500 in dogecoin a few months ago at around 5 cents. Ended up liquidating it at 6 cents some weeks back because we were going on a trip and just wanted some extra cash in case of emergencies.
Fast forward to Monday and I'm looking at it at 7 cents and thinking "oooo I wish I still had it at 5 cents. But it's dumb to buy it now, I missed out"
Tuesday - "ugh! Now it's at 9 cents! I missed out!"
Wed - "THIRTEEN CENTS! Fuck.. SHould I buy now? That would be stupid..."
Thursday - "holy shit holy shit holy shit it's now 19 cents.. I can't take it anymore! I gotta buy it!"
I proceeded to buy $500 worth at $0.195, it's highest point to date. It immediately started dropping because of course it does.
I go to bed around midnight and check it again. "omg it's at 26 cents! I'm going to finally make money!" but still kicking myself for not having it at 5 cents. I set a sell limit order for 40 cents and go to sleep.
I wake up at 7 am. It's storming outside. So I check again. "31 cents!" I change my limit order to 32 cents. It sells minutes later. I profited $305.
By 8 am, it is already at 42 cents. Had I not been woken up by a storm, I'd have slept until 8:30 and it would've sold on its own at 40 cents and I would've made over $500.
But I'm happy. For now. Until it hits a dollar and I'm sad again.
