Consolidated Crypto Traders/Chat Thread

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

  1. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    905
    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.
     
  2. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,270
    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.
  3. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    905
    Location:
    Brisbane
    Think you pretty much summed up the crypto markets at the moment...general sentiment is definitely bear. BTC daily chart does indeed look like crap if it closes here (ETH even worse), really need a green candle today. For these large breakout moves best not to bet big until direction is obvious, could still be ranging - and this would be a glorious fakeout down, seems to be hardly anyone holding out hope.

    Fidelity announcing overnight their BTC custody service launching in March is big, not necessarily because of the product, but the timing of the release at a breakout point. Starting to sound like Wall St might have finally bought our coins! https://www.bloomberg.com/news/arti...-plan-march-launch-of-bitcoin-custody-service

    I can't see massive gains currently (like 100%+) in BTC this year from where ever it's lows are - marketcap is too big for a quick turnaround, but altcoins perhaps? - it's only around 6 months to the LTC block halving.

    As a side note - The central banks are to the stock markets like Bitmain is to Bitcoin Cash. Bought in big but can't liquidate anything. Wonder if they'll end the same?
     
  4. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,270
    Location:
    Shoalhaven - Gods Country
    I bought some bitcoin through Coinjar and transferred to my preffered exchange.

    WTF is up with this sh!t showing up on the blockchain instantly but still taking an hour to do 3 confirmations? THis is getting ridiculous 2014 was 5 years ago.
     
  5. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,270
    Location:
    Shoalhaven - Gods Country
    Just wondering whats the general feeling on XRP? Diversive Crypto still?

    I like listening to "The modern investor" on youtube just as a kind of Crypto news channel, the guy is a lunatic and huge on XRP but I never liked it and never will.

    If coinmarketcap is any indication, the trading volumes are low considering its market cap and if the circulating supply is to be believed, only 40% of coins created are actually out in the wild, so 2 huge red flags, Bitcoin/Ethereuem & Litecoin are like 80%+ mined so that indicates a level of confidence in that regard, high trading volumes and mostly mined.

    If im going big into crypto when the market finally capitulates, whats a good mix to invest in?.......

    Im scrubbing off XRP, Dash and XMR for starters, Im not confident in privacy coins which is one area I agree with the echo chamber lunatic(modern investor)....

    Stellar/XLM appears to have a ? in regards to circulating supply, Tron looks dodgy buts has heaps of fanbois, who knows.
     
  6. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    905
    Location:
    Brisbane
    Hoho, 12 months ago you would have got 20 people shilling you altcoins in no time, now they're on a 90-95% off sale, crickets.....

    XRP/XLM you seem at the mercy of the whim of the people who control the majority of the supply - pro's and con's. Something big seems to be brewing with TRX (and TRX's self bought Bittorrent ICO on Binance) - quite a good setup for moon, but haven't looked into it too much.

    I've got currently got:

    LTC - Mainly because of the block halving.
    ZEC - Seem to be doing a lot of work with compliance work in the US and getting listed there despite being a privacy coin. Chart looks like crap though...
    XTZ - Baking this coin - can earn interest on any amount by delegating funds to someone else without risk of loss - could be popular.
    EOS - Can't really justify this one - pretty much a shitcoin but with big money behind it.

    Binance have just announced credit card deposits, should be good for altcoin FOMO at some stage.
     
  7. dirkmirk

    dirkmirk Member

    Joined:
    Apr 3, 2002
    Messages:
    4,270
    Location:
    Shoalhaven - Gods Country
    I get that feeling again.

    Hold on to your hats.
     
  8. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    905
    Location:
    Brisbane
    Yeah big move for BTC coming in soon surely, either going to be under 3k soon or over 4k.

    Meanwhile picked up some more ZEC because of this bug information release. https://www.coindesk.com/zcash-team-reveals-it-fixed-a-catastrophic-coin-counterfeiting-bug Sure it was a very dangerous bug. But to me the timing of the news release now, months after a year long bearmarket feels like a classic shakeout play. If fake coins were created surely they would have been dumped by now.
     
  9. Gunna

    Gunna Member

    Joined:
    Dec 25, 2001
    Messages:
    6,679
    Location:
    Brisbane
    It'll continue down, personally I think it'll bottom out at around $2500. I also think we will see $20k+ again but not in the short term as investors try to ride the next wave up now they know it can go to $20k. We will also see a number of shit coins drop off this year while some remain due to not actually spending their money or changing their entire plan(Elix i'm looking at you)
     
  10. douver

    douver Member

    Joined:
    Mar 8, 2002
    Messages:
    905
    Location:
    Brisbane
    Pretty good gains on alts lately, planning to hold for much more. I think there is a lot of money on the sidelines waiting for charts to say 'bull run'. A lot more money than people realise.
     

Share This Page