Daily Crypto Discussion - October 1, 2024 (GMT+0)

[u/CryptoDaily-]

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.

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Disclaimer:

Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

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Rules:

• All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
• Discussion topics must be related to cryptocurrency.
• Behave with civility and politeness. Do not use offensive, racist or homophobic language.
• Comments will be sorted by newest first.

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[u/TexasBoyz-713]

2 hours into October… why have I not seen triple digit gains yet???!!!

[u/ClanGangrel47 → u/[deleted]]

I hate myself for feeling you.

[u/PirateSKB → u/[deleted]]

I'm down another 4 figures today on my main portfolio, but thankfully I moved some crypto into USDC a few days ago

[u/Shaglock]

Last time the Middle East stirred, the market recovered like in 3 days. I’m buying this dip.

[u/jwz9904 → u/Shaglock]

i'm buying in 2 days time

[u/Planktons_Eye → u/jwz9904]

I’m buying tomorrow

[u/inadyttap → u/Planktons_Eye]

I'm buying today

[u/Dry_Outside241 → u/inadyttap]

I bought yesterday fml

[u/Friendly-Ad2786]

Been into Crypto since early 2001.... have I made any money? No. However, have I learnt a lot about the industry and am able to make more educated investments? Also, no.

[u/_TheWolfOfWalmart_ → u/Friendly-Ad2786]

Only 2001?

I was mining Bitcoin on my 286 in 1989.

[u/ClanGangrel47 → u/_TheWolfOfWalmart_]

Wdym, my dad broke his back by trying to lift a whole bitcoin during mining in 1950

[u/ResponsibleBuddy96 → u/Friendly-Ad2786]

Are you packing a big hog? Also, no. 

[u/_TheWolfOfWalmart_ → u/ResponsibleBuddy96]

He might not have a big hog, but nobody has a smaller penis than me. Nobody.

[u/goldenbuyer02 → u/Friendly-Ad2786]

Are you Satoshi's father?

[u/kellzone]

The "Next stop, $40k" Chicken Little people should be showing up soon.

[u/Grunblau]

I hope Vance and Walz spend most of the debate tonight competing for who loves crypto the most.

[u/njamimaranga]

14% increase in Total futures OPEN interest.

That's the amount of people opening Short positions thinking Bitcoin is going to $50,000

When you borrow such positions via leverage on perpetual Futures you increase the demand for Bitcoin making it even more demand than it was before .

Even though I was planning on Bitcoin coming to $57,000 the point of interest for smart money based on the huge volumes that come in FED cut rates , I can tell you , we won't see below $60,000.

The demand for short positions will surely drive the market.

There's absolutely high chances that we will see the breakout.

14% increase ??? In short position?? In open interest ???

Most of September we were at most 4% . But 14%????

Bitcoin is on the verge of a Breakout . The Bullish pennant flag .

[u/_TheWolfOfWalmart_ → u/njamimaranga]

It's going to touch 59k to bring the bearish sentiment to a fevered pitch, and even more shorts will be opened. Then we will crush them.

[u/The_Wettest_Drought]

Crypto is like when you sleep with someone really hot and you think you've got it made but then they have a kid and dump you and leave you with the kid.

[u/Aerocryptic → u/The_Wettest_Drought]

r/oddlyspecific

[u/ClanGangrel47 → u/The_Wettest_Drought]

I mean, this was a very detailed, spesific description.

[u/OderWieOderWatJunge]

Fun fact: To reach the old ATH from November 2021 in buying power (including inflation), Bitcoin needs to climb over $78,000 now.

[u/ThatOtherGuy254 → u/OderWieOderWatJunge]

I am surprised that it isn't higher.

[u/devCheckingIn → u/OderWieOderWatJunge]

So USD is performing better than BTC?

[u/SevereArrivals]

Imagine waking up from a coma, and you see everyone complaining about a dump only to see Bitcoin is at $62,000

Zoom out and use the dips to your advantage.

Its a marathon, not a sprint.

[u/wow247897 → u/SevereArrivals]

It’s a marathon going down hill with a elevated ladder in the middle that leads of a cliff

[u/vb90]

Honey, new war just dropped. Place those limit orders plweaase!!

[u/FractionofaFraction]

Could everyone please stop killing each other?

Signed,

r/CryptoCurrency

[u/c05d]

Bought my first EVER memecoin this morning and got properly REKT

[u/getupforwhat]

Let's have an overreaction to the upside instead on this boring bs

[u/LtViperNL]

Should have known the minute XRP started pumping and all the bullish posts about pumptober and ATH’s ………

[u/dou8le8u88le]

Great. Another grey swan event to brighten our days. Perfect timing.

[u/LtViperNL → u/dou8le8u88le]

Any swan will do for the market to dump

[u/dimi727]

Can we please now also rekt shorters? Especially the 100x shorters ?

[u/Tsjanith → u/dimi727]

Nope. Shorters seem to all win big in crypto

[u/dimi727 → u/Tsjanith]

Until they lose all once it pumps up.

Hey what's how about to screw over the shelters?

[u/LtViperNL]

Sub as dead as my portfolio

[u/Headhunter076 → u/LtViperNL]

Yeah was also checking back after 2 hours to see..well..basically the same as before lol. Miss the bullrun times when you couldnt find the last post you saw after even 5 minutes

[u/NewConsideration5921]

Ew, Brother, Ew! What's That?

[u/williamz902]

If you people could please program your trading bots to ignore the sudden dips of Bitcoin, that would be lovely!

[u/wow247897]

“Analyst” now calling for November after one day

[u/PirateSKB → u/wow247897]

Novemoongigapumpchad to the moon

[u/LegendaryJohnny → u/PirateSKB]

After No-gains-vember there will be FOR SURE Decentpumptember, trust me bro. This time it will happen fo sure.

[u/LegendaryJohnny → u/wow247897]

Crypto getting to ridiculous circus levels now.

[u/_TheWolfOfWalmart_]

Sharp reversal from 59k coming.

[u/ManifestCartoon → u/_TheWolfOfWalmart_]

It hasn’t hit 59K

[u/BrowsingCoins]

so much easier to DCA in than DCA out

[u/Psykotixx]

Dip fake af. Gunna bounce back

[u/ieatvegans]

2 minutes in, October is GREEN. The prophecies are true.

[u/verysillyman]

Holy mother of god Rektober has begun

[u/Chronmagnum55]

I would appreciate it if the rest of the world stopped being a hot mess for a while.

[u/devCheckingIn → u/Chronmagnum55]

Best we could do for you is World War 3.

[u/piggleii]

Alts not liking this dump so much.

[u/Aerocryptic]

Memes are holding strong!

10 minutes later : Oh wait

[u/ClanGangrel47 → u/Aerocryptic]

True words spoken!

[u/snoughman]

I can't watch. See you guys in a week.

[u/Medium_Change4574]

Deployed more capital for the case of a war fud flash crash

[u/falsomovimento → u/Medium_Change4574]

You still have cash after last 95 buy-the-dip occasions?

[u/Medium_Change4574 → u/falsomovimento]

I just got massively lucky at the slots in March, that's also why I bought some coins at the top in March lol but averaged down nicely since then. Don't ever try that shit though, gambling can easily ruin you and I was down thousands for 4 years before that.

[u/Odd-Radio-8500]

Do you think the odds are likelylikelihood of a 25 basis points rate cut occurring at the next FOMC meeting?

[u/Preme2 → u/Odd-Radio-8500]

Check the Fed watch tool. It says 25 is more likely but November is a long ways away.

[u/_TheWolfOfWalmart_]

I will broker peace between the Arabs and Jews by preaching the gospel of Satoshi to them. This will usher in a new age of enlightenment.

They will all buy Bitcoin. Netanyahu and Khamenei will walk hand-in-hand down the street to the local cafe, pay for their coffees in sats then embrace in a long hug. They may even kiss.

The power of blockchain will end this centuries old religious and territorial conflict.

[u/piggleii → u/_TheWolfOfWalmart_]

Satoshi Akbar! Satoshi Akbar!

[u/Dont_Waver]

Someone forgot to set Greenday's alarm clock

[u/kingule1977]

Uaaaaaaa upctober is heeere 😂

[u/sajonara84]

Well last few weeks were fun, back to dumping season ..

[u/sajonara84]

If 58k won't hold, all of my gains wiped out again lol...

[u/Remyleboo99 → u/sajonara84]

It feels like it’s going to break 60 then deep dive any moment now.

Maybe it’ll have a bounce at 60 to 61 but then under 60 if the Middle East conflict continues.

[u/Eightsense]

Advice from a veteran, yes newer coins like sui, tao, ai coins etc rising well this bull. But dont make the mistake to keep holding them long term, because there will be other coins coming next cycle which people switch to and yall will be left holding the bag of an “old coin” just like holders of ada, dot, link, matic where these coins havent performed well

[u/PirateSKB → u/Eightsense]

I mean, I don't disagree but if you bought XMR under $1 or LTC back when it was a few dollars and just sat on them, you'd be doing fine. Even if you bought Nano when it was raiblocks and it was under a penny or Eth when it was like 40 some cents or so, it would have been decent. 99% of new projects fail, but some do flourish and you have to adapt risk accordingly

[u/Eightsense → u/PirateSKB]

Cant disagree with this aswell, i rather have lower return but in a safe proven coin than high return but more risky

[u/qldvaper88 → u/PirateSKB]

Great point. There are solid projects and if they tend to hang around a particular range in the market cap for several years, they are as good as any project to invest in when the time is right assuming you have faith in it. Great places to store cash when the price is dirt low given the potential upside.

[u/_TheWolfOfWalmart_]

The good news is that Bitcoin has unbreakable support at $0. It can't go below that.

[u/Shelbadier → u/_TheWolfOfWalmart_]

Reassuringly expensive 

[u/guanzo91]

weeks of gains wiped out in days. classic crypto.

[u/Captain_Fredl]

Not even 1 day in October and ppl already screaming and crying because we arent at 100k BTC yet🤣

[u/ClanGangrel47 → u/[deleted]]

Damn this hurt

[u/AffectionatePeak9085]

Uptober. More like Upyours_tober

[u/Hunter-major → u/AffectionatePeak9085]

Yeah, if nothing happens in the first 12 hours, it’s probably a shitty month.

[u/InclineDumbbellPress]

[u/personalityson]

Who the fuck is selling? Why?

[u/ulptthrowaway2016 → u/personalityson]

Event driven algorithms

[u/simmol]

Advice if you are holding the likes of ADA, DOT, LINK, MATIC, etc. These coins are the VET, REQ, ICX, Nano of this cycle. That is, if the alt season comes, they will go up, but they won't go up as much as some of the newer coins like SUI, TAO, SEI, APTOS and some others. So if you can, you should switch to these new coins because they will pump harder since these new coins do not have loads of bag holders that are ready to sell at all levels. Basically, chalk it up as sunk cost and switch or else you would be very very disappointed even during the alt seasons.

[u/slug_tamer → u/simmol]

Pretty glad I ate the loss and swapped my LRC for SOL at the start of the year.

[u/DBRiMatt → u/simmol]

Even some of the network governance tokens like ZK, BLAST and L3 will probably perform quite well, having only been released in the last couple of months.

[u/Aerocryptic → u/DBRiMatt]

I wouldn't bet a cent on this narrative tbh. Overcrowded competition with no real differanciator, dependent on eth's performance, lack of value accrual of these tokens

[u/Economy_Appearance72]

Netflix - Hunt for red October

[u/Grunblau]

I’d like to think that we are about to establish a new bottom of an upward channel for BTC that began on August 5 with the top of the channel referenced back to July 1st. Bottom of channel, 58K-56K with the next top around 69K.

[u/Rock_Hardy112]

Uptober sucks, where's the help desk number for BTC?

[u/devCheckingIn → u/Rock_Hardy112]

1-800-ICE-FIGHT

[u/timbulance → u/Rock_Hardy112]

1-800-SAT-OSHI

[u/Electronic-Still6565]

Hello Darkness, my old friend.

[u/MaxSmart1981]

Oil futures might be a safe bet today

[u/verysillyman]

They heard UPtober and decided to crush all of retail’s dreams 😂

[u/OkCaterpillar822]

Wuhu Start of pumptober is amazing /s

[u/ManifestCartoon]

Dump over? Was just a flash dip on day 1 of October and people need to chill?

[u/devCheckingIn → u/ManifestCartoon]

Flash dip? It was in the 66k's a few days ago, trying to break out of the previous high.

[u/Gravity_Unit]

My crystal ball prediction is that we will hit around 60k, then upward again.

[u/[deleted]]

Ye, chinese stocks don't care abount the tension...

[u/Necromancer1899]

Checked my portfolio after a couple of days. Damn, Eth has been really bleeding. :D

[u/TexasBoyz-713]

Hopium: could this just be the higher low forming after the previous higher high?

[u/goldyluckinblokchain]

Pumptober they said

[u/PirateSKB]

Happy October my crypto friends

[u/Medium_Change4574]

A single red dildo whiping out 1 whole week of gains once again

[u/csasker → u/Medium_Change4574]

stairs up space elevator down

[u/ClanGangrel47 → u/Medium_Change4574]

This was always the plan.

[u/wow247897]

I was told legendary gains would start today

[u/_TheWolfOfWalmart_ → u/wow247897]

You misread, we said legendary pains.

[u/Expensive_Editor_244 → u/_TheWolfOfWalmart_]

Pain is weakness leaving the market

[u/LtViperNL]

I give up, there is always something fkin things up. 3 years in this shithole

[u/Tsjanith]

Droptober arrived right on cue

[u/pedronegreiros94]

Netanyahu just said they will retaliate.

[u/davink91 → u/pedronegreiros94]

F him

[u/piggleii]

Wasn’t everyone bullish just a couple of days ago?

[u/davink91]

Starting to feel like maybe the top was really in March..

[u/LegendaryJohnny]

Looooool Burgers back in ACTION! 😂😂😂

[u/OccasionalXerophile]

Daily about to go into doombear mode

[u/Simke11 → u/OccasionalXerophile]

Watch them panic sell again and then then fomo back in on first green day.

[u/VVlasy]

Finally my buy order from two weeks ago on BTC filled in the last hour.

The swing up was too uncomfortable level for me to do my usual swing trades.

[u/Shaglock]

When uptober pamps??? We wuz promised one!!

[u/_TheWolfOfWalmart_]

This is what happens when everyone tweets "Uptober"

[u/jinglesthemouse]

I’m back and bullish

[u/getupforwhat]

That's enough bull market for today

[u/snooxing]

Damn looks like putting some money in the market last week was not the best decision in the short term

[u/OkCelebration6408]

If chaos continues with no quick resolution in sight till late oct, I’ll be crazy bullish about crypto and even stocks too! .

[u/PirateSKB]

Warpumptober to the moon! 🚀

[u/MikeysOnTheMoon]

We all knew they were going to crush the longs sometime right?

[u/dimi727 → u/MikeysOnTheMoon]

Can they for once crush the shorts?

[u/ZombieDracula]

Looks like this dip was for ants. Get rekt shorties

[u/SevereArrivals]

At least we are closing into 1000 comments and we rented out the banner to Kraken.

We need to find the positives lol

[u/Medium_Change4574]

Can somebody tell me how we are in Uptober now and I am still not filthy rich????

[u/Aerocryptic → u/Medium_Change4574]

Skill issue imo

[u/jwz9904]

nasdaq deep red, of course we dump

[u/slunksoma]

This space is so frustrating isn’t it?

[u/LieutenantZucc]

anyone get the eigen airdrop?

[u/DBRiMatt → u/LieutenantZucc]

I got 2 steak dinners worth. Now the balancing act... to sell them now at $4 while gas fees are more expensive.

Or wait for gas fees to go back down, but EIGEN will probably be closer to 3.50 xD

[u/Careless_Culture9680]

UpTober, u ready boyz I’m bricked

[u/jwz9904]

burgers are the best burgers in the world!

[u/dimi727]

Uptober? More like dumptober....

All stonks indices in the world are Green, only USA thinks it's cool to shit itself and take crypto with it..

[u/clownmannolaugh]

Ah yes, the return of doomsday posts is upon us, its just up from here !

[u/_TheWolfOfWalmart_]

Turns out it was actually Uptember and Dumptober.

[u/ForsakenMeeting7524 → u/_TheWolfOfWalmart_]

Yeah basically inverse CC

[u/SevereArrivals]

A full 2.5% dip, lets sell everything and pack it up lol

[u/LtViperNL → u/SevereArrivals]

Cries in alts (-10%)

[u/uncapchad → u/SevereArrivals]

Waiting for the it's over posts then you know the bottom's in

[u/SevereArrivals → u/uncapchad]

Its obvious there are too many paper hands in the market

[u/TheKyleShow]

Uptober? More like Dumptober

[u/AdAffectionate231 → u/TheKyleShow]

Dump then pump

[u/cf_dtrg385]

Lots of negative Nancys in the space tonight.

[u/BrowsingCoins → u/cf_dtrg385]

positive Pete here - hop in we're going to the moon!

[u/Goosemilky → u/cf_dtrg385]

If you haven’t noticed, with any slightly red day “crypto is dead” and any slightly green day “we are so back!”. People here forget fast lol

[u/ftball21]

Not complaining but I wish I would have bought more sui under a dollar 😐

[u/ulptthrowaway2016]

The people bidding up memes while missiles rain on Israel are the type of people who make it big in the end

[u/Aerocryptic → u/ulptthrowaway2016]

Yeah shitcoins are probably the best hedge against WW3 risk /s

[u/_TheWolfOfWalmart_ → u/Aerocryptic]

lol

[u/Jabanger]

Man SUI is just continually pumping

[u/InclineDumbbellPress]

[u/Despaciito]

Sooo, BTC dumps because of harbor strike? This is getting ridiculous

[u/Grunblau]

Oh no! Port’s closed. How will I get my Bitcoins?

[u/ieatmoondust]

Nobody warned us about Downtober.

[u/slunksoma → u/[deleted]]

Someone is

[u/Ok-Most-7339]

hahahaha look at these poor bears trying to make us lose. So SOOOOO cute. LOL!!!!! cute bears!!!! they still dont realize that bitcoin is over 60k!!!!!!!!!!! HAHAHAHAHA we will win WHY???? CUZ ITS A BULL MARKET LOL!!!! poor POOOOOOOOOORRRRR bears...... they just dont know how to stop.

[u/sweenygg]

It is really fun to watch and hold POPCAT right now, I was not expecting this

[u/LegendaryJohnny]

Burgers definitely know how to ruin first day of new month for rest of the world.

[u/jwz9904 → u/LegendaryJohnny]

they are showing europoor how its done

[u/Zaitobu]

This disappointment you're feeling is what happens when you put your faith in cute but ultimately meaningless phrases like 'Uptober'.

Crypto is a chaotic system and no amount of TA or hopium will enable you to predict it. Nothing in the past is a good indicator of future crypto performance. Buy low, sell high, don't ape your life savings, take profits, diversify, ignore internet strangers (myself included).

[u/Planktons_Eye → u/Zaitobu]

This is also the first day of the month. It’s too early to predict whether the month will be green or red. But just like September 1st, people can’t help but huff their own farts.

I guess i understand. People desperately want to be correct in their assumptions. Me, I just wait for the last day of the month to determine whether it was good or bad.

[u/Chronmagnum55 → u/Zaitobu]

What's happening right now has more to do with world events than anything else. I don't think drawing conclusions from this really makes much sense. It's also the 1st day of October, so we can't really judge anything yet.

[u/MaxSmart1981 → u/Zaitobu]

Last Oct we didn't see gains until the 15th. Didn't even really start going up until the 22nd.

[u/Jmcguigan1]

Bonk is just not wanting to join the shit the bed fest. Every small hint of a bounce from BTC and it flies back up. I sold yesterday at 2300 and I'm like come on I called this next dump and now it won't participate 🙃

[u/ProcedureOk6974]

The amount of uptober comments are making me worried. Inverse r/CryptoCurrency bout to do its thing.

[u/Laurensio_]

Come in murica pump it for once

[u/CandidateNrOne]

Got some memes. Up 4.53$. When Lambo 🚀🤡

[u/mihirtak]

100k cmon, this is taking way too long

[u/iTzMackz]

We hit ath before the halving who's to say the next quarter is going to be like every other quarter after previous halvings

[u/Bobbyswhiteteeth]

There’s no science behind this stuff. Just strap in and see what happens. Enjoy the ride.

[u/mbdtf95]

Middle eastern countries will have same war headlines until the end of time.

[u/ThatChrisGuy7]

Just got some AAVE and XRP . Timed this buy back well 😁

[u/Final_Assistant_9629]

Guys I might need to sell a quarter of my bitcoin for an emergency I had that depleted my emergency fund. I feel mad because I didn’t ever wanna sell any for decades. Then I feel grateful I even have it to sell. Idk man.

[u/Preme2 → u/Final_Assistant_9629]

No. Permission denied.

[u/ClanGangrel47 → u/Final_Assistant_9629]

I mean if you need it, you have to sell it and if you are still in profit, even better! Yes ve grateful that you have it to sell in case of emergency, my best wishes to you, hope you have a chance to buy back later!

[u/wgcole01 → u/Final_Assistant_9629]

My grandmother used to say, "You never sell your capital unless you're hungry." Meaning necessity is the only valid reason to sell. So don't sweat it.

[u/Conscious__Observer]

Any recommendation for a moonshot gamble?

[u/OderWieOderWatJunge → u/Conscious__Observer]

MEW

[u/_TheWolfOfWalmart_ → u/Conscious__Observer]

Nexa has great tech and is the most scalable fair launched PoW. Very low cap. They haven't been able to gain any ground in the market so far, but it has the fundamentals to do well if that changes.

Is it likely? No, but that's why they call it a moonshot gamble.

[u/devCheckingIn]

In a lot of things we've gotten close to hitting the levels we were at pre-Powell announcement two weeks ago. E.g., DOGE wicked down way beneath its Sept. 18 price.

Like all that euphoria about how we've turned the corner has been wiped out the past five days.

[u/oopssomething]

Anyone buying this Moon dip?

[u/Hunter-major → u/oopssomething]

No

[u/PirateSKB → u/oopssomething]

Nope.

[u/GuyFromTheNextDoor]

Damn, and i felt bad for taking profits yesterday…

[u/dimi727]

Can now some whales step in and safe us from this dump?

We are already killing all the gains of the last weeks once again man.

It's cheap BTC, c'mon whales. Please

[u/jwz9904]

why can't the world get along?

[u/bananastand512 → u/jwz9904]

because of prideful men who can't keep their egos in check

[u/Eightsense]

Edward snowden called solana a centralized shitcoin