[Finance] The cryptocurrency (Bitcoin etc) thread

[beorhthelm]

how's everyone coping? in it for the tech, right?

 

[The Wookiee]

I’m no expert but I always keep an eye on ADA - for example last week I bought a fair chunk at 91p and sold at 115p
Just noticed it 83p so bought a lump again, that’s the lowest it’s been since I’ve kept an eye on it. Will cash out again when it goes back up to 100p.
I’m only dabbling, haven’t lost any money yet. Just transfer some savings and withdraw when I’m happy with profit, then repeat.

 

[Creaky]

I’m no expert but I always keep an eye on ADA - for example last week I bought a fair chunk at 91p and sold at 115p
Just noticed it 83p so bought a lump again, that’s the lowest it’s been since I’ve kept an eye on it. Will cash out again when it goes back up to 100p.
I’m only dabbling, haven’t lost any money yet. Just transfer some savings and withdraw when I’m happy with profit, then repeat.

Doesn't sound very tax efficient unless you haven't reached your CGT threshold yet.

 

[The Wookiee]

Doesn't sound very tax efficient unless you haven't reached your CGT threshold yet.

Example - I just put £5000 in an hour ago - saw it go up to £5080 - also saw go down to £4998 - will go to sleep now - don’t think ADA will drop much more - even if I withdrew at £5080 that £80 profit on my my £5k savings - that’s a night out ! But happy to keep it going overnight- look again in the morning

 

[sydney]

how's everyone coping? in it for the tech, right?

i think it can only be described as carnage......

 

[Bold Seagull]

Look again in the morning and……

 

[nicko31]

Its all a bit 1999

Assets that sell hot air and optimism have been hammered of late, crypto will be no different.

Maybe, its time to take any profits and stuff that makes money. Resources and energy spring to mind

 

[Dick Swiveller]

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.

Mornington Crescent

 

[CheeseRolls]

Underwater for the first time in over six months. A little surprised and disappointed to be honest. It feels a massive over reaction to a fairly small set back. I can afford to be patient and build though.

 

[Bold Seagull]

Unbelievably my hold is still up. Tempted to add…

 

[beorhthelm]

Underwater for the first time in over six months. A little surprised and disappointed to be honest. It feels a massive over reaction to a fairly small set back. I can afford to be patient and build though.

it is all a bit sudden, with no real catalyst. seem to be following the US stocks, NASDAQ in particular, with an amplifier. there's no support here and options expriy end of the week and expect more dumpage into that. on other hand RSI looks very oversold, lower than May.

 

[martin tyler]

Unbelievably my hold is still up. Tempted to add…

With you I’m surprised to find I’m comfortably up still up although nothing like it was a month back.
Can see a bumpy few months ahead but on the flip I have put I. A bit more today on ADA and ETH which I believe long term will bounce back up

 

[giveusfalmerplease]

With you I’m surprised to find I’m comfortably up still up although nothing like it was a month back.
Can see a bumpy few months ahead but on the flip I have put I. A bit more today on ADA and ETH which I believe long term will bounce back up

its had a few "sprints" now after last nights drop - bottomed at 2300 but went back to 2460 very quickly then down to 2380 before climbing back to 2520 its just dropped down again to 2468 but its setting higher lows and higher highs.

still worried though that BTC is now below the microstrategy average (according to YT video i watched earlier) so hell if the decide to tank the market further so they can buy back in lower we have no chance - i think they own like 5% of ALL BTC!! - only take $50m to drop BTC below 30k i recon

 

[DJ NOBO]

I’m starting to wonder if buying quite a lot of doge at £0.33 may have been a bad idea.
Pulled out of shib days before it went up loads too.
Pulled out of Eth when it had a way to go.
Ah well.
Down over a grand.
At one point last year I was down 7k.
Currently waiting on the sidelines for an in on a few coins. I’d love to recoup that grand.
Unlike last year, I’m not catching falling knife after knife.
Nothing like losing your money to focus the mind.
To the clued up posters - is this the bottom ?
To the less clued up - approach crypto with caution. Last year I was emptying savings account before I knew it. It took a toll on my mental health.

 

[giveusfalmerplease]

I’m starting to wonder if buying quite a lot of doge at £0.33 may have been a bad idea.
Pulled out of shib days before it went up loads too.
Pulled out of Eth when it had a way to go.
Ah well.
Down over a grand.
At one point last year I was down 7k.
Currently waiting on the sidelines for an in on a few coins. I’d love to recoup that grand.
Unlike last year, I’m not catching falling knife after knife.
Nothing like losing your money to focus the mind.
To the clued up posters - is this the bottom ?
To the less clued up - approach crypto with caution. Last year I was emptying savings account before I knew it. It took a toll on my mental health.

with you a million %...i got made redundant but that was less stressful than owning crypto.. ive spent days and nights staring a graphs trying to find an entry to recover some losses but absolutely hammered in september and november in the flash crashes (eth dropped like a grand in 10 minutes liquidated my eth position and i was leveraged in ADA too . i has holding like 14k in cash value of crpto but had 40k of open positions which autoliquidated once eth dropped, the nof course the price shot massively back up and there was i just sitting with cash in my account. promised myself i would not use leverage again and ironically i didnt do it as the market started going back up again. finally bit the bullet and started leverage trading again 2 days before the next flash crash!.

The irony was, if i hadnt lost all that initial money, i would still be tons down but i would be prepared to hodl but essentially now im gambling by trying to chase losses.
The below sums it all up...after the crash yesterday eth jumped up over $100 so i bought back in (green circle). it literally went up like THREE DOLLARS and then started a sell off. i set my SL as 2540 (red circle) it hit and the bottom was 2538 before it went up again..u cant make it up

 

[Tom Hark Preston Park]

I’m starting to wonder if buying quite a lot of doge at £0.33 may have been a bad idea.
Pulled out of shib days before it went up loads too.
Pulled out of Eth when it had a way to go.
Ah well.
Down over a grand.
At one point last year I was down 7k.
Currently waiting on the sidelines for an in on a few coins. I’d love to recoup that grand.
Unlike last year, I’m not catching falling knife after knife.
Nothing like losing your money to focus the mind.
To the clued up posters - is this the bottom ?
To the less clued up - approach crypto with caution. Last year I was emptying savings account before I knew it. It took a toll on my mental health.

You cannot be serious shirley? Despite their impressive verbiage, some of which is worthy of #BarberOut himself, not one of these guys has the slightest idea. Its herd mentality at its purest, market sentiment if you will, and it'll only stop when the herd stops. Your guess is as good as anybody else's in the crypto space. Literally

 

[Lower West Stander]

You cannot be serious shirley? Despite their impressive verbiage, some of which is worthy of #BarberOut himself, not one of these guys has the slightest idea. Its herd mentality at its purest, market sentiment if you will, and it'll only stop when the herd stops. Your guess is as good as anybody else's in the crypto space. Literally

100% agree.

No one has a clue. There is no fundamental reason to invest in this at all, it’s momentum and technicals. You may get lucky but without a solid macroeconomic reason, it’s more luck than judgement.


Sent from my iPad using Tapatalk

 

[Marshy]

There are projects with utility. Very few I agree.

I only invest money I can afford to lose.

My advice is HODL, it will bounce and recover.

If I have to wait 2 years so be it.

This is a long term game.

 

[giveusfalmerplease]

There are projects with utility. Very few I agree.

I only invest money I can afford to lose.

My advice is HODL, it will bounce and recover.

If I have to wait 2 years so be it.

This is a long term game.

so say u bought half a ADA at $2.50 - saw it go up to $2.95 an then within 24 hours its down to $2, next day its $1.75 - you just HODL?. Well today it dropped below $1 - back up to $1.05 now - you might be HODLing more than a couple of years to get your money back in that one?

Most of the smug internet know-alls were just fortunate to buy ETH under $100 and are now only 25x their money what a shame. but they can be smug, tell people not to sell because they want more...

Its a MILLION% about timing - hardly anyone makes money through skill. I mean at the other end of the scale you have people like me (and a few others on here) who just happened to join the market in May/June when the bear market was just around the corner. I must have watched 300+ videos and read about different coins but I only ever bought my coins on Binance (before the uk ban) and Kraken so by the time they are listed most of the profits are already made (sure you might get a 2x-5x but never gonna see a 100x on Kraken)

Oh and for the record the only ever FOMO i did was get in that Donkey Shba Inu. (yeah i know!) at the time i was chasing losses - had the opportunity to take some profit if only it had hit 100 - i got in at 50 and had TP to sell 1/2 at 100)

 

[Marshy]

so say u bought half a ADA at $2.50 - saw it go up to $2.95 an then within 24 hours its down to $2, next day its $1.75 - you just HODL?. Well today it dropped below $1 - back up to $1.05 now - you might be HODLing more than a couple of years to get your money back in that one?

Most of the smug internet know-alls were just fortunate to buy ETH under $100 and are now only 25x their money what a shame. but they can be smug, tell people not to sell because they want more...

Its a MILLION% about timing - hardly anyone makes money through skill. I mean at the other end of the scale you have people like me (and a few others on here) who just happened to join the market in May/June when the bear market was just around the corner. I must have watched 300+ videos and read about different coins but I only ever bought my coins on Binance (before the uk ban) and Kraken so by the time they are listed most of the profits are already made (sure you might get a 2x-5x but never gonna see a 100x on Kraken)

Oh and for the record the only ever FOMO i did was get in that Donkey Shba Inu. (yeah i know!) at the time i was chasing losses - had the opportunity to take some profit if only it had hit 100 - i got in at 50 and had TP to sell 1/2 at 100)

I do not day trade, would not even attempt it

YES HODL - if you believe in your project/token

Those people who HODL will do better than 90% of those people trying to time the market

The problem is people just think crypto is quick easy money and chase green candles

I know the assets I have chosen are utility based and believe I will be rewarded.

I also am prepared to ride them to zero if I have to.

If I was not prepared to do that I would not be in crypto

But I believe the huge upsides out way the downsides

Crypto is here to stay.

IT WILL SWALLOW all other classes