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Re: Cryptocurrency
« Reply #440 on: May 13, 2019, 11:34:08 am »
damn, so much price action over the weekend. such a big gap for cme futures. like $1000?! damn, rip. although everyone always likes to say "gaps are always filled".. so will be interesting to see what happens

some volume was highest ever, higher than 2017 even. bitmex had an insane amount of volume - over $10bn. think how much they make in fees!

wonder what will happen when binance open up their wallets again (tuesday). alt season? hope so, alts are so rekt

Gaps are very important. Where price takes off quickly in either direction, trapped money is left behind because the brokers have to cover the other side of the orders. Which means eventually price will most likely return there to free up the money.

I'd say we will have an alt capitulation. I wouldn't be rushing into any altcoins at the moment. It's the re-valuation of crypto and we are going to find out just how much Tether/Bitfinex inflated all those altcoin prices.


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Re: Cryptocurrency
« Reply #441 on: May 13, 2019, 05:10:57 pm »
It's the re-valuation of crypto and we are going to find out just how much Tether/Bitfinex inflated all those altcoin prices.

To what extent do you think Tether/Bitfinex could have inflated bitcoin? More immune than alts to overvaluation would you say?


Re: Cryptocurrency
« Reply #442 on: May 13, 2019, 07:03:57 pm »

To what extent do you think Tether/Bitfinex could have inflated bitcoin? More immune than alts to overvaluation would you say?

It most certainly did inflate the BTC price. The big three BTC, ETH and LTC have much more developed price structure than the alts though, so they have areas of support to fall to.

I think in the near future we'll see BTC and LTC testing the bottoms they made at the end of 2018 and possibly making lower lows. ETH is the only one that currently has the potential for a run up, possibly to 400 area. But after that it'll be back down testing those lows.

Most altcoins have been breaking bottoms, bouncing 10 or 20% then continuing to fall lower. I wouldn't touch any of those because they will end up going lower than you ever expected.


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Re: Cryptocurrency
« Reply #443 on: May 14, 2019, 05:12:51 am »
Most alts have been falling like that, true, but a very few have not. Would you touch those? I mean, is there anything worth buying now?


Re: Cryptocurrency
« Reply #444 on: May 14, 2019, 05:39:33 am »
Most alts have been falling like that, true, but a very few have not. Would you touch those? I mean, is there anything worth buying now?

Just looking at the state of the market there's nothing I would buy. Consensus is currently happening in New York, the hypetrain is in full swing and the fomoheads are buying BTC at 8K. What happens to the alts if BTC suddenly crashes to 4K or lower? 

I'm currently in ETH but I don't consider it an altcoin because it moves differently to altcoins. It's an advanced trade with high risk and I got in at a lower price.


Re: Cryptocurrency
« Reply #445 on: May 14, 2019, 06:05:21 am »
Just as I was falling asleep last night the Bakkt news came out.  Expected to see 8K when I woke up and I wasn't disappointed lol.

I know this is going to pull back sooner or later but let's have our glorious moment in the sun  8)


Re: Cryptocurrency
« Reply #446 on: May 14, 2019, 06:36:03 am »
The funny thing is these people buying it now at 8K refused to buy it when it was at 4K because the FUD news cycle told them it was going to zero :laugh: Now it's all moon and lambos and institutional money is coming and they believe that too.


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Re: Cryptocurrency
« Reply #447 on: June 01, 2019, 01:57:46 am »
BTC $100.000 HODL
Who's ready for another 4 years of Trump 2020!


Re: Cryptocurrency
« Reply #448 on: June 12, 2019, 12:50:19 pm »
https://www.coindesk.com/koreas-biggest-bank-is-preparing-to-custody-digital-assets

I think the next year could be really explosive; "mainstream" bank custody like this, Bakkt, Fidelity, the halving...


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Re: Cryptocurrency
« Reply #449 on: June 12, 2019, 01:04:49 pm »
If you were in btc in 2016 then now is already really big. 800% higher. Also each person should try to get 1 bitcoin while they can and hodl till it's 1 mill.
Who's ready for another 4 years of Trump 2020!


Re: Cryptocurrency
« Reply #450 on: June 12, 2019, 06:56:35 pm »
If you were in btc in 2016 then now is already really big. 800% higher. Also each person should try to get 1 bitcoin while they can and hodl till it's 1 mill.

Your maths isn't very good. If you bought BTC in 2016 - let's say the average price in that year is 600 (the high in 2016 was about 750 and the low was 420). Today's price is about $8,000 so that's an increase of about 1300%.

But what if you had sold your 1 BTC at $17,000 and bought back in at $4,000, then you would currently have 4.25 BTC which would be worth $34,000 today which would have been an increase of over 5500%. Notice I didn't pick the absolute top and bottom in that example, instead those were areas where you could see the volatility coming back in and possible reversal patterns forming.

Sadly most people buy when the crypto "experts" (shillers) tell them to ("it's going to the moon"), and hodl until they have lost a significant chunk of their capital. Then they sell for a loss when the experts tell them it's going to zero.

« Last Edit: June 12, 2019, 07:02:17 pm by belo horizonte »


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Re: Cryptocurrency
« Reply #451 on: June 12, 2019, 06:59:29 pm »
If you were in btc in 2016 then now is already really big. 800% higher. Also each person should try to get 1 bitcoin while they can and hodl till it's 1 mill.

Your maths isn't very good. If you bought BTC in 2016 - let's say the average price in that year is 600 (the high in 2016 was about 750 and the low was 420). Today's price is about $8,000 so that's an increase of about 1300%.

But what if you had sold your 1 BTC at $17,000 and bought back in at $4,000, then you would currently have 4.25 BTC which would be worth $34,000 today which would have been an increase of over 5500%. Notice I didn't pick the absolute top and bottoms in that example, instead those were areas where you could see the volatility coming back in and possible reversal patterns forming.

Sadly most people buy when the crypto "experts" (shillers) tell them to ("it's going to the moon"), and hodl until they have lost a significant chunk of their capital. Then they sell for a loss when the experts tell them it's going to zero.


it's easy to say these things in hindsight, though, isn't it?