[Finance] The cryptocurrency (Bitcoin etc) thread

[Lower West Stander]

One day stocks in Apple, Amazon and Tesla will be worthless and if no one wants to buy them you won't get your money back, all worse than a Ponzi scheme by this definition.

As someone who works in the Front Office in the financial markets I've resisted commenting on this thread for a long time, But that is absolute nonsense.

Apple, Amazon and Tesla trade on fundamentals, you may not agree with them but they have valuations derived from a fundamental opinion predicated on future growth. Have you looked at apple's cashflow, top line or cash position recently?

Cryptocurrency does not trade on fundamentals, it trades on technicals driven by sentiment. I don't understand it at all, everything seems to be predicated on charts, trends and what people on Twitter are saying about it. Correct me if I'm wrong but I can't see any macroeconomic reason for investing. I'm clearly not an expert and may be oversimplifying this - but no more than you are oversimplifying with the comment above.

 

[CheeseRolls]

Courtesy of...
https://twitter.com/antisocial_eng/status/1479111092513095688
Advert for fake Meta coin hosted on instagram, owned by?

 

[Bold Seagull]

Going well this week so far...

 

[GloryDays]

Going well this week so far...

It's just a dip.

Within a dip.

Within a dip.

 

[pb21]

It's just a dip.

Within a dip.

Within a dip.

Yes and no.

 

[beorhthelm]

Yes and no.

if in doubt, just zoom out.

 

[Pintos]

Yes and no.

View attachment 143651

Chart crime. Makes the recent 40% drop look insignificant. Can we have one with a linear y-axis?

 

[schmunk]

Chart crime. Makes the recent 40% drop look insignificant. Can we have one with a linear y-axis?

To match the above (albeit in GBP, because...because):



Just the last 2 years:

 

[pb21]

Chart crime.

Disagree, its perfectly reasonable to plot exponential growth on a log axis.

 

[Pintos]

Disagree, its perfectly reasonable to plot exponential growth on a log axis.

Disagree, it’s not really standard practice when trying to demonstrate performance

 

[pb21]

Disagree, it’s not really standard practice when trying to demonstrate performance

Logarithmic price scale—also referred to as log—represents price spacing on the vertical or y-axis dependent on the percentage of change in the underlying asset's price. This is usually the default chart style.

https://www.investopedia.com/ask/answers/05/logvslinear.asp

 

[Amexarmadillo]

Quite a few indicators triggering to suggest the cyclical downturn is here. Be careful everyone. The good news is that if it is best time it should last far less time than it has historically.

 

[pb21]

Quite a few indicators triggering to suggest the cyclical downturn is here. Be careful everyone. The good news is that if it is best time it should last far less time than it has historically.

On the contrary, there are also quite a few indicators that the local bottom MAY be in...

 

[Lower West Stander]

Love charts - you can get them to say whatever you want them to.

Same as all data really….


Sent from my iPad using Tapatalk

 

[stanford123]

On the contrary, there are also quite a few indicators that the local bottom MAY be in...

Been trading this market for quite a few years. The very fact that crypto is being discussed on this forum is signifiant evidence. Yes in early Feb a cycle low is due but odds favour a LH. Breaking the 50 week ma and candle close on the weekly is telling you momentum is waining. Smart money are not looking at coins such as SOL (up by 250x) and thinking now is the time to deploy. The cycle ended in April last year imo and now it is dumb money propping it up. They will capitulate as always.

 

[giveusfalmerplease]

Been trading this market for quite a few years. The very fact that crypto is being discussed on this forum is signifiant evidence. Yes in early Feb a cycle low is due but odds favour a LH. Breaking the 50 week ma and candle close on the weekly is telling you momentum is waining. Smart money are not looking at coins such as SOL (up by 250x) and thinking now is the time to deploy. The cycle ended in April last year imo and now it is dumb money propping it up. They will capitulate as always.

can u elaborate for the noobies amongst us!. So ..
1) Are u suggesting SOL is a good or bad investment? (my average was 185 so gone from 33% up at ATH to 25% down in current slump
2) havent most of retail already capitulated? Ive hodled my BTC from 48 up to 69 and now 42 and ETH from avg 3800 to 4700 down to 3100.

I watch "Crypto Banter" YouTube this morning and they have access to some TA charts the average person wont see. They recon most retail already capitulated on leverage and now most leverage is shorting the market. Hence the market is in a fine balance - a potential small move up (say to 45k) could trigger buys as short SLs are activated. Hoping for a quick push back to 50k at least. If that happens i will close some of my positions - frankly will be happy to be even for a bit!!

 

[giveusfalmerplease]

Anyone having any good feelings for cryptos which might beat the downturn if it continues? Ive just found KAVA which may have been around a while but its paying 23% APY on Kraken so have staked mine and will ride the wave.

Being murdered on some of the so called safe plays (been DCA'ing until the last 2 drops when i ran out of disposable cash) so every position is now in loss. Im in ENJ / MANA / MATIC / SOLANA / LUNA / XRP / ARAGON / LOOPRING (donkey stock!!) so quite a spread.

Been scared to open low cap positions in some of the early projects - cant seem to find a cheap way to get into some of these (not prepared to pay $200 transaction fee to buy $500 of a new coin. I know those coins can quickly repay that back but...So if anyone knows how to get into early project without high gas fees please share..(you can pm if you prefer)

 

[sydney]

i'm no guru .....i'm down 50% across my entire board , i'm not putting any more money in , there are a few guys in the local who have made good money on short term , big stake investments but not everyone has the balls for that putting 60 - 80 k takes some nerve and i think it's money they've already made on coins like SOL , FTM , ADA ....... the whole "industry" if you want to call it that needs it's confidence restored with energy efficient mining and acceptance by major world governments currently resisting .......one i am looking at is Axil which is apparently one of the coins being embraced by Metaverse but who knows , the more i think about it there is very little to ensure it isn't a huge con.

 

[Tyrone Biggums]

i'm no guru .....i'm down 50% across my entire board , i'm not putting any more money in , there are a few guys in the local who have made good money on short term , big stake investments but not everyone has the balls for that putting 60 - 80 k takes some nerve and i think it's money they've already made on coins like SOL , FTM , ADA ....... the whole "industry" if you want to call it that needs it's confidence restored with energy efficient mining and acceptance by major world governments currently resisting .......one i am looking at is Axil which is apparently one of the coins being embraced by Metaverse but who knows , the more i think about it there is very little to ensure it isn't a huge con.

Helium - HTM

Long term play in the decentralised wireless networking.

Actually has a use case.

 

[sydney]

Helium - HTM

Long term play in the decentralised wireless networking.

Actually has a use case.

i have 25 of them ....