[Finance] The cryptocurrency (Bitcoin etc) thread

[Tyrone Biggums]

is it a good time to buy in? Or is more downside likely?

DCA into something if you like it.

Most coins are at 90+% off their ATH so it's not a bad time to be entering.

It might come down a bit more but if you're DCA you're not deploying all your capital in one hit so can take advantage of lower prices if they occur.

 

[Tyrone Biggums]

the tea leaves suggest its hit a low and bounce. interest rates on hold and crypto been saturated with bad news, who's left to sell who isn't holding on?

Spot on with the last part.

Fear/Greed is only at 41% which to me indicates there's a lot of people sitting on the sidelines waiting for upward movement.

Also suggests there's no retail interest in the market at present and that's normally not a bad time to be accumulating.

 

[CheeseRolls]

Interesting confirmation for anyone holding or thinking of investing in Quant.

 

[giveusfalmerplease]

its just my friggin luck that yet more coins have dumped 33% in the last two weeks after coming under attack from the SEC deeming them illegal securities. Matic, SAND, ADA, MANA, ATOM, ADA. I own them all and took another massive chunk out of my retirement pot!. Already down 85% i started DCAing in to bring down the cost of coins after hodling for a year and now just a month later im down another 25% on top of the 85% (i bought slightly lower than todays prices but they had gone up 30% from lows).
Meanwhile monkeys playing with MEME coins brag about the millions they have made from them. For anyone not 100% up to date, we saw a fake dip in many coins in May as people sold their alt coins to buy into PEPE, SUI and a few others and now are stuck after they too dropped 75% from the highs in April.

 

[BHANSC]

its just my friggin luck that yet more coins have dumped 33% in the last two weeks after coming under attack from the SEC deeming them illegal securities. Matic, SAND, ADA, MANA, ATOM, ADA. I own them all and took another massive chunk out of my retirement pot!. Already down 85% i started DCAing in to bring down the cost of coins after hodling for a year and now just a month later im down another 25% on top of the 85% (i bought slightly lower than todays prices but they had gone up 30% from lows).
Meanwhile monkeys playing with MEME coins brag about the millions they have made from them. For anyone not 100% up to date, we saw a fake dip in many coins in May as people sold their alt coins to buy into PEPE, SUI and a few others and now are stuck after they too dropped 75% from the highs in April.

Must be mad putting your retirement pot into crypto

 

[borat]

its just my friggin luck that yet more coins have dumped 33% in the last two weeks after coming under attack from the SEC deeming them illegal securities. Matic, SAND, ADA, MANA, ATOM, ADA. I own them all and took another massive chunk out of my retirement pot!. Already down 85% i started DCAing in to bring down the cost of coins after hodling for a year and now just a month later im down another 25% on top of the 85% (i bought slightly lower than todays prices but they had gone up 30% from lows).
Meanwhile monkeys playing with MEME coins brag about the millions they have made from them. For anyone not 100% up to date, we saw a fake dip in many coins in May as people sold their alt coins to buy into PEPE, SUI and a few others and now are stuck after they too dropped 75% from the highs in April.

Not advice but if that far down, consider holding until next bullmarket. Generally speaking hold higher % of blue chips - e.g Eth and BTC

 

[Ⓩ-Ⓐ-Ⓜ-Ⓞ-Ⓡ-Ⓐ]

There's supposedly a big CTFEGPL switch coming, just announced by Borgholmmer NV on Twitter. They're expecting some DHG coins to plunge while the bull market runs in the opposite direction best stick to 17% PSJ, 23% OJ and hope the buck stops with the Fed. If you're playing about in PJs you're likely to get flanneled.

 

[borat]

BlackRock Files Bitcoin ETF Application With the SEC

BlackRock, with Coinbase as its partner, has submitted an application for a spot Bitcoin ETF following a Thursday morning report.

finance.yahoo.com

 

[Tom Hark Preston Park]

its just my friggin luck that yet more coins have dumped 33% in the last two weeks after coming under attack from the SEC deeming them illegal securities. Matic, SAND, ADA, MANA, ATOM, ADA. I own them all and took another massive chunk out of my retirement pot!. Already down 85% i started DCAing in to bring down the cost of coins after hodling for a year and now just a month later im down another 25% on top of the 85% (i bought slightly lower than todays prices but they had gone up 30% from lows).
Meanwhile monkeys playing with MEME coins brag about the millions they have made from them. For anyone not 100% up to date, we saw a fake dip in many coins in May as people sold their alt coins to buy into PEPE, SUI and a few others and now are stuck after they too dropped 75% from the highs in April.

Sorry, but you seem to be eternally on the wrong end of the crypto curve. Are you sure you should be risking your retirement pot on chasing shitcoin gains in such seemingly reckless scattergun fashion?

PLEASE seek some sound financial advice from a qualified IFA while you still have some of your retirement pot left. They will at least be able to help you spread your risk across various financial products, most of which will doubtless be dull and worthy, but at least will be secure and regulated

 

[BHANSC]

Sorry, but you seem to be eternally on the wrong end of the crypto curve. Are you sure you should be risking your retirement pot on chasing shitcoin gains in such seemingly reckless fashion?

PLEASE seek some sound financial advice from a qualified IFA while you still have some of your retirement pot left. They will at least be able to help you spread your risk across various financial products, most of which will doubtless be dull and worthy, but at least will be secure and regulated

Orrrr YOLO and treble up on shitcoins for the next bull market and then 100x in the next bull market for MASSIVE gainzzzz

 

[Tom Hark Preston Park]

Orrrr YOLO and treble up on shitcoins for the next bull market and then 100x in the next bull market for MASSIVE gainzzzz

Sadly, real money was gone as soon as it was exchanged for shitcoins. They're all going to zero. And even if you accidentally temporarily get lucky with one (line go up!) exchanges will move heaven and earth to avoid letting you cash out your 'gains' into real money

 

[beorhthelm]

remember its not a loss until you sell it

 

[Tyrone Biggums]

its just my friggin luck that yet more coins have dumped 33% in the last two weeks after coming under attack from the SEC deeming them illegal securities. Matic, SAND, ADA, MANA, ATOM, ADA. I own them all and took another massive chunk out of my retirement pot!. Already down 85% i started DCAing in to bring down the cost of coins after hodling for a year and now just a month later im down another 25% on top of the 85% (i bought slightly lower than todays prices but they had gone up 30% from lows).
Meanwhile monkeys playing with MEME coins brag about the millions they have made from them. For anyone not 100% up to date, we saw a fake dip in many coins in May as people sold their alt coins to buy into PEPE, SUI and a few others and now are stuck after they too dropped 75% from the highs in April.

We're in the accumulation phase.

Seems like everything is tracking along for a 2025 bullmarket.

The SEC is only the US.

The US trading volume has been declining anyway. Down to about 10% which isn't huge.

Asia is where 80% of trading volume comes from at present.

Europe how ever is increasing.

Went from under 1% of TV to now over 4% and climbing.

 

[CheeseRolls]

If I have sparked any interest there is more information in this video and the project participants below.

 

[chickens]

The UK from what I've read is positioning itself quite well to attract business from the US in this space.

Binance cancels registration in the United Kingdom

Binance's footprint is shrinking even further, as the company has canceled its registration with the United Kingdom's Financial Conduct Authority (FCA). This means that the company will not be able to perform any regulated activities in the country.Binance had applied for registration after...

web3isgoinggreat.com

In addition, in case anyone here is using Crypto.com - https://web3isgoinggreat.com/?id=fi...ypto-com-is-trading-against-its-own-customers

 

[CheeseRolls]

Binance cancels registration in the United Kingdom

Binance's footprint is shrinking even further, as the company has canceled its registration with the United Kingdom's Financial Conduct Authority (FCA). This means that the company will not be able to perform any regulated activities in the country.Binance had applied for registration after...

web3isgoinggreat.com

In addition, in case anyone here is using Crypto.com - https://web3isgoinggreat.com/?id=fi...ypto-com-is-trading-against-its-own-customers

I see this as a move by Western governments to pass the baton. Push out some of the players that are getting too big to fail and make room in the market for players who will also be to big to fail, but it is more palatable to bail out with taxpayers money when they screw up. This is not the beginning of the end of crypto, but the start of another large growth phase, so watch the entrants into the market.

 

[pb21]

Not so sure. HMGOV has recently dropped all things crypto like a hot potato

Rocket boost for UK economy as Financial Services and Markets Bill receives Royal Assent

The Act is central to the Government’s vision to grow the economy and create an open, sustainable, and technologically advanced financial services sector.

www.gov.uk

 

[Knocky's Nose]

There's a whole new financial ecosystem coming, and some coins/tokens will be in it - and 99% will not. Once proper regulations come in this will kill off the tens of thousands of shitcoins like PEPE and so on. This digitised form of rotting potato peelings will eventually be outlawed, and I welcome the day this happens.

Crypto will be cleaned up, polished, and presented back to us on a silver platter when the banks, institutions and governments of the world have got their ducks in a row and stand to gain a fortune from this new digital financial world. Until then, it's purely speculative and should be treated as such.

Bitcoin will be a store of value as it's dogshit to transact with at scale, as is Ethereum. XRP, XLM and XDC will move the money (Banks, Retail, Industry - in that order) plus some other 'chosen ones'. You'll then have Quant and the like for interoperability between chains. No one crypto will be the 'winner' as they will all serve a specific function in their own niche. You just need to find the ones which have the best ideas, the best teams behind them, the best compliance, the best balance sheets, the best contacts and contracts and so on.

Buy wisely, and hold. If you do it's like buying Apple, Microsoft and Google shares for 10p each. We are very early, and early adopters always win big. It's just a patience thing, and most people seriously lack any of it - that's why they chase sodding frog meme coins and get rekt.

Final point. The big financial families and institutions own all the Money. Money owns politics. Money owns the media. When you own the government and the media - you can do what you want.... You can slow crypto down, you can scare the public away, you can line everything up in your favour. It's all a game for the wealthy - and we're not invited to the party.

 

[dsr-burnley]

I see this as a move by Western governments to pass the baton. Push out some of the players that are getting too big to fail and make room in the market for players who will also be to big to fail, but it is more palatable to bail out with taxpayers money when they screw up. This is not the beginning of the end of crypto, but the start of another large growth phase, so watch the entrants into the market.

No way will the government bail out crypto failures. If any crypto organisations go bust, then people who have lost their savings, that's tough, but they won't get bailed out any more than Woolworths shareholders did. People who have borrowed money to buy crypto and can't pay it back, well, there's little point in bailing them out because they'd find another way to lose that as well.

 

[CheeseRolls]

No way will the government bail out crypto failures. If any crypto organisations go bust, then people who have lost their savings, that's tough, but they won't get bailed out any more than Woolworths shareholders did. People who have borrowed money to buy crypto and can't pay it back, well, there's little point in bailing them out because they'd find another way to lose that as well.

They shouldn't and they won't as you describe it.

A maximum consumer holding figure of £14K was outlined as part of the Uk Central Bank Digital Currency. I would expect consumer protection for these balances to be a consideration and for this to align to a far reaching reform and clean up of crypto, for key regulated markets including the UK.

I expect the libertarian dream of money free from government control will live on and thrive, but will exist in a different ecosystem.