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The original was posted on /r/cryptocurrency by /u/nicoznico on 2024-01-03 14:53:47+00:00.

Many of us were astonished to see today how a report by an analyst ("Matrix on Target", MoT) with purely speculative assessments regarding the current political situation in America has depressed the entire crypto market by 20%.

Now that we have all had our coffee and taken our tranquillizers, we should consider the report's conclusions and assumptions rationally and let them sink in. Let me summarize my interpretation.

1. TIMING: MoT believes all ETF applications will fall short in January. However, they also believe the applications will be approved in Q2 2024. ➡️ Bascially they are claiming it's just a matter of time.
2. POLITICS: MoT believes all ETF applications will be fall short in Q1 because the leading five-person voting Commissioners is dominated by Democrats and also SEC Chair Gensler is not embracing crypto in the US. ➡️ Basically, nothing new is being said here that everyone in America has known for 12 months anyway. Especially in the asset management industry. Therefore, this is a purely speculative political view. SEC can now prove how policitally independent they are.
3. AHEAD OF THE SCENARIO: Interestingly, MoT reports says "If there is any denial by the SEC, we could see cascading liquidations (...). We could see Bitcoin prices declining by -20% very quickly". ➡️ Now this scenario has come true. Not because the SEC has decided, but simply because MoT is pondering the possible decision. They even proposed to go short on BTC! A rogue who thinks evil.
4. BULLISH: No matter what, by end of 2024 they expect BTC above $42k, even if SEC denies ETF. MoT remains bullish on BTC.

Full report (Source: Link) :

Executive Summary (by Matrix on Target, Tue, 02 Jan, 2024)

Matrix on Target has been bullish against consensus expectations in 2023 and predicted early in the year that Bitcoin could reach $45,000 by Christmas. We even expected that if all the SEC requirements for Bitcoin Spot ETFs were fulfilled, Bitcoin could rally toward $50,000 by the end of January 2024. While we have seen frequent meetings between the ETF applicants and staff from the SEC, which resulted in the applicants refiling their applications, we believe all applications fall short of a critical requirement that must be met before the SEC approves. This might be fulfilled by Q2 2024, but we expect the SEC to reject all proposals in January.

The current five-person voting Commissioners leadership critical for the ETF approval of the SEC is dominated by Democrats. SEC Chair Gensler is not embracing crypto in the US, and it might even be a very long shot to expect that he would vote to approve Bitcoin Spot ETFs. An ETF would certainly enable crypto overall to take off, and based on Gensler’s comments in December 2023, he still sees this industry in need of more stringent compliance. From a political perspective, there is no reason to approve a Bitcoin Spot ETF that would legitimize Bitcoin as an alternative store of value.

Since traders started betting on an ETF approval in September 2023, at least $14 billion of extra fiat and leverage has been deployed into crypto. Some of these flows might be associated with easier macro conditions as the Fed has turned dovish. However, of those $14 billion of additional longs, $10 billion might be related to the ETF approval expectation.

If there is any denial by the SEC, we could see cascading liquidations as we expect most of the $5.1 billion in additional perpetual long Bitcoin futures to be unwound. We could see Bitcoin prices declining by -20% very quickly and falling back to the $36,000/$38,000 range.

Suppose market participants have not heard of any approvals by Friday, January 5, 2024. In that case, Matrix on Target recommends that traders hedge their long exposure by buying the $40,000 strike puts for the end of January or even going outright short Bitcoin through options.

Even if the SEC would deny the ETF, we still expect Bitcoin prices to be higher by the end of 2024 than when they started the year ($42,000), as US election years and Bitcoin mining years tend to be positive.

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The original was posted on /r/cryptocurrency by /u/fap_fap_fap_fapper on 2024-01-03 14:42:20+00:00.

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The original was posted on /r/cryptocurrency by /u/bluespacecolombo on 2024-01-03 14:22:57+00:00.

I know that Kraken is a favorite of many of you and although I like Kraken myself I need to complain about the latest feature they introduced which is Custom Orders. I recently tried it for the first time and a few days ago I set up a Custom Order for ETH.

My custom order was set to trigger at $1898. Today the price went down to ~$1860, my order got triggered but the price Kraken decided to realize my order was $2205, which is ~$300 ABOVE my target price. If this is how Custom Orders are supposed to work then better not use it.

Beware whenever you set a Custom Order that this is how it works and you have no guarantee if it triggers above your target price.

my target price was 1898 but it triggered at 2205

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The original was posted on /r/cryptocurrency by /u/Perfect_Ability_1190 on 2024-01-03 14:21:55+00:00.

Original Title: 2024 IRS Tax Reporting Rule on Crypto Transactions Above $10K Sparks Controversy. The Internal Revenue Service (IRS) now requires anyone who receives at least $10,000 in cryptocurrencies to report transaction information to the IRS.

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The original was posted on /r/cryptocurrency by /u/Faz420_ on 2024-01-03 14:07:56+00:00.

Why this always happens? Why when i buy a crypto it has a higher price than when i control it? For example i bought a bit eth when it hit 1950€ but then in the transaction i saw that i actually bought it at 2045€ even if the price was still lower than 2k, wtf is this? Same thing with btc and oher cryptos, i noticed it mostly on revolut because it's the main one i use

And i'm also wondering what is the best place to hold em, i have binance, coinbase, metamask, kucoin and revolut, which also is my bank account. Ty in advance for those who might reply and i want to remind you that i'm a bit of a noobie :)

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The original was posted on /r/cryptocurrency by /u/conceiv3d-in-lib3rty on 2024-01-03 12:27:05+00:00.

This is what has caused this flash crash..

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The original was posted on /r/cryptocurrency by /u/feddee on 2024-01-03 11:57:58+00:00.

FUD season has begon.

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The original was posted on /r/cryptocurrency by /u/conceiv3d-in-lib3rty on 2024-01-03 12:27:05+00:00.

This is what has caused this flash crash..

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The original was posted on /r/cryptocurrency by /u/drjacks on 2024-01-03 11:52:48+00:00.

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The original was posted on /r/cryptocurrency by /u/feddee on 2024-01-03 11:57:58+00:00.

FUD season has begon.

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The original was posted on /r/cryptocurrency by /u/Vlijmscherp on 2024-01-03 10:31:15+00:00.

Remember the guy who shilled bitconnect to everyone in 2018, then got arrested for it?

Well in 2019 he invested in Hex, quite successfully but then he ‘sacrificed’ everything for pulsechain. Well hex is down 98% from ath and never recovered, it’s even down last month while Richard Heart got served. Pulse was a total failure with no value in it whatsoever.

So Trevon James moved on when he saw Hex failing in 2021. He started shilling Xen. Same idea with timelock tokenomics as Hex. Great ponzinomics with a few influencers shilling it heavily. Well it’s down 99,9% from launch with a lot of people who locked their tokens for a long time getting insane apr’s and getting their tokens ‘unlocked’ in the short term. So mega inflation. Total fail.

Trevon realized he needed a new ponzi coin so he started shilling titanX. And what do you know, down 80% in last month.

I think he realized that he is a failure because he started a cod mw3 gaming channel for 30 viewers too. For your amusement, his YouTube crypto channel:

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The original was posted on /r/cryptocurrency by /u/dreamygeek on 2024-01-03 10:20:03+00:00.

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The original was posted on /r/cryptocurrency by /u/dreamygeek on 2024-01-03 10:20:03+00:00.

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The original was posted on /r/cryptocurrency by /u/kirtash93 on 2024-01-03 09:47:35+00:00.

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The original was posted on /r/cryptocurrency by /u/nevermindthebbb on 2024-01-03 09:16:12+00:00.

Gm reddit, to test the whole inverse r/cc meme I've decided to do a fun little experiment. I've placed $5000 in a fresh bybit subaccount. I will market long 5 coins that reddit hates, and market short 5 coins that reddit likes, based on the very brief research I've done. All positions will be equally sized at $1000 per coin. This experiment will only consider alts, no BTC/ETH. There will be no rebalancing of positions, and I plan to hold these trades open at least until February. Then on Feb 1, i will decide to either end the experiment, rebalance the index, or add/remove certain coins based solely off reddit sentiment. I will try to give updates on this on the daily discussion thread at least once a week

Here is the list of coins and the respective entries

Hated coins (longs)

TRX ($0.10961) - there is no crypto personality more hated on this sub than Justin Sun

SOL ($108.531) - this coin used to be universally hated by this sub, now sentiment is much more divided. still think this coin deserves a spot in the hated coins list due to comments on this thread ()

BCH ($264.05) - pretty much any btc/eth fork is viewed negatively by this sub. ETC and BSV also fall under this category

AXS ($9.063) - reddit hates the gamefi narrative, this could be any p2e gaming coin but Axie seems like the most popular

PEPE ($0.0014195) - of course we have to include a memecoin (that isnt DOGE) here

For the shorts - i used mainly this thread and took the coins with the highest upvotes/most mentions and comments ()

ADA ($0.6144)

ALGO ($0.2272)

DOT ($8.512)

LRC ($0.3417)

XMR ($169)

And here are some scuffed screenshots of the positions:

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The original was posted on /r/cryptocurrency by /u/dreamygeek on 2024-01-03 07:56:05+00:00.

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The original was posted on /r/cryptocurrency by /u/CalmProfit on 2024-01-03 07:43:44+00:00.

You've probably heard of the Inverse Cramer strategy. Jim Cramer is known for his bad calls, so people are joking that you would make a lot of money if you did the exact opposite of what he does. So let me present Inverse DataDash.

In late 2021, he called for an "extended bul market" that would end in the end of 2022 when BTC would peak at around 200k.

In the spring of 2022, he said that BTC and altcoins weren't worth selling cause they had dropped in price so much. They dropped more than 50% afterwards. Around the same time he shilled some random small-cap altcoins that...dropped like 80-90% in the following months.

He changed his mind from super bullish to super bearish near the bottom, and sold BTC around 24k, and stayed bearish ever since, not even buying a little bit and missing the entire move up. He called to a capitulation and a long, extended bear market.

Recently his strategy was "chase the winners" a.k.a. the coins that pumped already. He said that Arbitrum was lagging behind, so it wasn't worth buying (it was around $1.2 then, and now it's at 1.9). Meanwhile the "winners" were already overbought at that point.

The lesson is not to be too deterministic and not change your mind at the worst points possible. Maybe you know more bad youtubers that are worth inversing.

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The original was posted on /r/cryptocurrency by /u/SJHarrison1992 on 2024-01-03 07:18:15+00:00.

I've been staking my DOT on polkadot via Pools which has been great, but I'm now trying to withdraw from a pool

I've gone onto Manage -> Leave Pool and clicked Submit.

I can see this record in subscan which makes it look to my untrained eye that its gone through, but on Polkadot it still shows my balance is in the pool, I know it takes 28 days for them to withdraw, but how do I know that 28 days has started?

I'd expect to see some sort of unbonding status or something, so wondering wherever to do the leave pool again, or wait and see. Obviously don't want to wait 28 days and find out i did it wrong and have to wait longer

Any advice or tips greatly appreciated! Go DOT

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The original was posted on /r/cryptocurrency by /u/GunnDawg on 2024-01-03 05:04:23+00:00.

I'm considering to finally use a CB wallet for staking (since it's not available on my regular Kraken wallet), and was curious on a few things, mostly if it's even worth doing with the small volume of both SOL and ETH I have. So I guess that's my main inquiry, I know I can just calculate the %APY return and determine that "worth" on my own, but does that % change with the current prices, or the price you start staking at? Is it even worth doing if you've only got say 5-10 SOL coins and less than five thousand in ETH. What are the down sides if you can just un stake at any time? Surely you can't lose money can you? Just get a much lower APY if based on current prices I think? Anyways, just trying to wrap my head around staking and if it's even worth considering at low volumes. Cheers.

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The original was posted on /r/cryptocurrency by /u/dootiedog on 2024-01-03 04:00:50+00:00.

As many others, what initially got me excited about bitcoin and the like was the idea that we could have democratized, immutable online money anyone could use without the need for bureaucracy. Using bitcoin the first few times was so cool and inspiring, however I only get the jist of what happens from a technical standpoint and didn’t even know UTXO’s existed until fees got so high and DCA’ers started posting about it. Fees have been an issue for a while, and ever since they have been the narrative instantly changed to reflect this and bitcoin is a store of value not cash never meant to be cash what were you thinking? Sure there are cryptos out there that have long solved these issues, but our oppressors have the resources to drag them all through the mud.

The unfortunate truth of the matter is that nothing is infallible. Wether it be by tech itself, laws in the physical world, or the narratives enforced, the elites have to get they’re grimy fucking filth all over it.

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The original was posted on /r/cryptocurrency by /u/jbtravel84 on 2024-01-03 00:26:13+00:00.

Happy New Year!

Unless you're a scammer or hacker.

About 9 hours ago a victim lost about 2.47 Million of the following tokens

• AUCTION - 1.72M
• BSSD - 582.46K
• LORDS - 97.15K
• RBX - 88.33K

A look inside the victim's wallet and the token's lost

Wallets

• VICTIM Wallet - 0xD9b7f9a448C9B7B183249990866f2891B688B48f
• Hacker Main Wallet - 0x9eaa99347E024e2B1cfBE99F4584992dEcc136E0
• Hacker Wallet 1 - 0x6731A2773eFC2F95DCBe70107A32891120bf2744
• Hacker Wallet 2 - 0xBeF522Bf5d8C2CAdcc302412A47c13D6C0CeB2F5
• Hacker Wallet 3 - 0x462dcEbfe6f45bADD799e8809E535E699b15c9d9
• Hacker Wallet 4 - 0x5190D3CC3D9796f9282a7178D39DfC5713B99604
• Hacker Wallet 5 - 0xf7efefc5D17D2514a95a7C7AaD066AA6334Cb55c

A look inside the Hacker's wallet of 0x9eaa99347E024e2B1cfBE99F4584992dEcc136E0. There's quite a bit of movement and I expect the 1.2M in stolen crypto sitting in the wallet to eventually make their way to a deposit address.

Deposit Addresses

Below are the deposit addresses used by the scammer so far. Most of the funds went through OKX Deposit addresses.

Hacker Wallet 1 - 0x6731A2773eFC2F95DCBe70107A32891120bf2744

• 0x2646152649c777A8db5AAD2241f5F738D07aa73C - OKX
• 0x4799AdF3f21C96AdDB008c920CADee7e0c8437D1 - OKX
• 0xbeD5DCEeFC2a2B6b049f40c726C8C5Af781Ec28D - OKX

Hacker Wallet 2 - 0xBeF522Bf5d8C2CAdcc302412A47c13D6C0CeB2F5

• 0xCd3163e69B0F6F0403f9254139bc31F200D8d495 - OKX

Hacker Wallet 3 - 0x462dcEbfe6f45bADD799e8809E535E699b15c9d9

• 0x4D373c7ad022416b2e5dbf12DF301Ef75C29f833 - Binance

Hacker Wallet 4 - 0x5190D3CC3D9796f9282a7178D39DfC5713B99604

• 0xAB3aC676C51679E3eD84E5d10458240Bd4654a88 - ChangeNOW

Hacker Wallet 5 - 0xf7efefc5D17D2514a95a7C7AaD066AA6334Cb55c

• 0x4D373c7ad022416b2e5dbf12DF301Ef75C29f833 - Binance

Above is a different visualization looking at 0x9eaa99347E024e2B1cfBE99F4584992dEcc136E0. The wallets on the left could potentially be other victims.

How did this scam happen?

The victim apparently signed a malicious transaction which triggered the contract to create a fresh wallet to drain the victim's assets.

This could be one of the main SAAS (Scam as a Service) wallet drainers but I don't see any clear identifiers.

Currently, there's about 1.2M sitting inside the hacker's wallet of 0x9eaa99347E024e2B1cfBE99F4584992dEcc136E0. It's only a matter of time before these funds get moved!

Stay safe out there!

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The original was posted on /r/cryptocurrency by /u/Minimum-Ad7542 on 2024-01-03 01:47:28+00:00.

I am having a weird issue where when I connect to some older crypto project sites I was testing which I haven't been active on in 3-6 months. When I go to connect my wallet I select Metamask as usual from the list of approved wallets. However, the load screen that pops up is not for Metamask wallet but for Coinbase Wallet. I do have a Coinbase wallet but don't understand why this is happening across random sites. All of my testing was done with the same Metamask wallet.

Anyone else dealing with this issue or know the cause?

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The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2024-01-03 00:00:44+00:00.

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

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.

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.

Useful Links:

• Beginner Resources
• Intro to r/Cryptocurrency MOONs 🌔
• MOONs Wiki Page
• r/CryptoCurrency Discord
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Finding Other Discussion Threads

Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted.

• u/CryptoDaily- — Posts the Daily Crypto Discussion threads.
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The original was posted on /r/cryptocurrency by /u/CryptoLiveLeak on 2024-01-02 20:07:18+00:00.

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As a CryptoLiveLeak Creator, you gain access to an exclusive community of fellow crypto content creators and industry experts. Collaborate, share insights, and expand your network within the blockchain ecosystem.

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The original was posted on /r/cryptocurrency by /u/namelesscreature0 on 2024-01-02 17:45:03+00:00.