Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. koss

    koss Member

    Joined:
    Mar 6, 2009
    Messages:
    5,347
    Location:
    Vic
    It's a good time to part half your crypto funds into a stable coin, eg. USDT, TUSD, USDC not AUD as it's expected to tank down to 60-65cents in the near future, unless the RBA gets off their butts and raises rates.
     
  2. whatdoesthisdo

    whatdoesthisdo Member

    Joined:
    Jan 19, 2011
    Messages:
    8,084
    Location:
    Gold Coast
    I said to my old man two weeks ago that I don't think the we will see eth go below $90 and BTC below $2800. She is getting bloody close to that now lol
     
  3. ayles

    ayles Member

    Joined:
    Mar 29, 2005
    Messages:
    513
    Anyone holding anything other than USDT atm is suicidal and should research what a stoploss is.
    We're halfway through a signal on both XVG and BTC, looks weak at the moment but will check again at 10am. Cash out, re-enter on a strong bounce signal. I got 32% ROI in verge the other day, let it crash and burn. The margin requirements for shorting are too high, I only do very basic trading up strat.
     
  4. ipv6ready

    ipv6ready Member

    Joined:
    Feb 10, 2014
    Messages:
    2,036
    Location:
    North Sydney
    USDT last week removed it promise of independent audit of funds it holds and is under US Justice investigation.
    Why even risk holding USDT, might as well cash out and sit it out.
     
  5. Gunna

    Gunna Member

    Joined:
    Dec 25, 2001
    Messages:
    7,183
    Location:
    Brisbane
    Not everyone can hold usdt either, limited supply based on their reserves
     
  6. ayles

    ayles Member

    Joined:
    Mar 29, 2005
    Messages:
    513
    Fair call on USDT. Sorry I was more referring to the hodlers still in BTC ETH etc hoping for a mircalus recovery.
     
  7. koss

    koss Member

    Joined:
    Mar 6, 2009
    Messages:
    5,347
    Location:
    Vic
    I use TUSD not USDT, why not fiat, because cashing in and out of fiat each trade costs a fortune in fees, so I just stay in crypto.
     
  8. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,629
    Location:
    Shoalhaven - Gods Country
    If you've held crypto this long theirs a bigger risk in selling at the bottom and missing any recovery, if you want to play that game wait for a good bounce 50% on ALTS would be like $130 ETH/ 45 cent XRP and sell but not at rock bottom lows...
     
    douver likes this.
  9. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    1,050
    Location:
    Brisbane
    This quote is from exactly 1 year ago today. I would say the market is almost the exact inverse now. It's gone irrational in the other direction, bitcoin could see 2.5k or 6k (or both) in the next month. What's sure is that when this dump finishes there will be an epic bounce.
     
  10. Witters

    Witters Member

    Joined:
    Jan 5, 2017
    Messages:
    82
    Location:
    Victoria
    What makes you so sure?
     
  11. ayles

    ayles Member

    Joined:
    Mar 29, 2005
    Messages:
    513
    There will almost certainly be some bouncing as the last manipulators pump and dump. I cant see any sustained price growth coming back for a long time. My guess is a couple of +20% 30% spikes then straight back down. Works for me ☺
     
  12. adamsleath

    adamsleath Member

    Joined:
    Oct 17, 2006
    Messages:
    14,770
    Location:
    Sunnybank Q4109
    who knows when the asylum will trigger the next manic spike...
     
  13. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,629
    Location:
    Shoalhaven - Gods Country
    My totally unscientific analysis of supply + demand and the money injected daily to sustain price levels if all new coins were sold on market and existing were hodlers.

    2013 pump - 3,600 coins X $1,000 = 3.6 million.
    2017 pump - 1,800 coins X $20,000 = 36 million

    So the situation is going to be in 18 months time that new supply of Bitcoin will be 900 coins.

    3.6 million / 900 = $4,000, similar money from 6.5 years ago(mid 2020) to sustain price levels around $4,000, not a bad bet.....

    36 million / 900 = $40,000 per coin.

    I know this no way to predict prices as theirs too many variables but supply is known, coins are lost all the time etc.

    So if your speculating on the price of bitcoin you should IMO Try and evaaluate the downside is the upside risk In a potential pump/bubble.

    If Bitcoin drops to $2,000 or so surely the upside outweighs the Downside....

    I won't be waiting for $100,000 Bitcoin I would have existed the market 100% by the time Bitcoin hits anywhere around $50,000, at that stage you run gauntlet of 80-90% capital devastation, no point holding and waiting another 4 years..
     
    Last edited: Dec 11, 2018
  14. whatdoesthisdo

    whatdoesthisdo Member

    Joined:
    Jan 19, 2011
    Messages:
    8,084
    Location:
    Gold Coast
    I think it's a perfect time to start "marketing" satoshi's
     
  15. Wangtec

    Wangtec Member

    Joined:
    May 14, 2018
    Messages:
    8
    My XMR is looking very sad :(
     
  16. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    1,050
    Location:
    Brisbane
    I shouldn't be so sure, but in true markets (which BTC is behaving like imho) the bigger the movement in one direction, the bigger the opposite reaction. BTC had many 30%-40% retraces against trend during it's run up in 2016/17 - why wouldn't it do the same on the way down?

    Transferred some cash from my bank account to exchange for the first time in almost 3 years yesterday. Too tempting prices here for me to get back some of the BTC I sold.
     
  17. Witters

    Witters Member

    Joined:
    Jan 5, 2017
    Messages:
    82
    Location:
    Victoria
    Well I hope for your sake it does go up.
     
  18. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,629
    Location:
    Shoalhaven - Gods Country
    To be brutally honest, I don't see the likes of Monero/Dash/Z-Cash etc having a good risk/reward ratio, the market could skyrocket but if the US government(for example) cracks down on crypto it will be these privacy coins in the firing line.

    So ask yourself, whats the chance of these coins outperforming the market? The downside risk is brutal, DASH is marketing themselves as a saviour for Venezuela/adoption so is an easy target for any government perceived to do something about it.

    The old saying a rising tide lifts all boats which couldn't be more correct with the bitcoin/altcoin market, Privacy coins have too much downside risk IMO!
     
  19. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    1,050
    Location:
    Brisbane
    Bailed out on this bounce for now as I don't like the look of the market. BTC had a 30-40% bounce, many altcoins much more.
     
  20. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,629
    Location:
    Shoalhaven - Gods Country
    Theirs a couple of other threads I could post in like the bitcoin as an investment thread in the finance sectionor altcoin discussion but this will do, BITCOIN has an effect on everything....

    SO prices have been stalled around the $3,600 price for a while and maybe resistance is finally starting to collapse?

    Either way it feels like theirs going to be a big movement, less than a 20% reduction would be sub 3, Im pretty confident its going their.

    Its VERY unclear whats going to happen after that, Bitcoin could go to the duldroms and go sub 2, my impression is that it would be similar to the 2015 Bottom where it went sub $200 for a moment and that started the next bullrun.

    The Dow Jones for a moment went bear market(?) but on the up again, the bitcoin crash from the sixes came before that crash so cant draw any parallels their, I thinks its certain that if the S&P 500(/or world stock markets) resume another bullrun than Crypto is ready for another bullrun.

    If volatility remains high than crypto will surely go lower, IMO crypto is bullish as long as stock markets are bullish, theirs no way to tell if Crypto is a safe haven asset or a product of the bubble of everything from reserve/federal/world bank stimulus.

    The big bull trap would be people who think like me, that presume such a big crash in crypto combined with the bitcoin block halving next year will result in another bullrun.....

    Things often don't work out the way you think, I.E bitcoin goes to $2-$2,500 then Halves again, you've lost 50% of your capital, I still dont think thats a bad entry price longterm.....
     
    watteez likes this.

Share This Page

Advertisement: