[Finance] The cryptocurrency (Bitcoin etc) thread

[beorhthelm]

well this is fun, 39k hasnt held and 25-30% drops across the board.

one ray of sunshine was Matic, up substantially overnight and had foresight to trim postion this morning so locked in.

 

[Tom Hark Preston Park]

News of China's fresh clampdown coming hard on the heels of EM's tweets would appear to have caused the herd to stampede. Good luck cashing out

 

[martin tyler]

News of China's fresh clampdown coming hard on the heels of EM's tweets would appear to have caused the herd to stampede. Good luck cashing out

Bit sad to come on and gloat. What makes you assume that anyone is cashing out? There maybe people on here buying in and looking at this as a potential opportunity and points to buy in at. I don’t pretend to have million or made millions here I joined in the later stages of 2020, havnt traded in bitcoin at all but have in ADA, EOS and ETH. Spent £500 on each and left it well alone. Currently I am substantially better off with it where it is than i would have been with it sitting in a bank even with large losses this week and potentially more to come.
I don t plan on touching any of them, everyone who does Crypto knows the risk or should have researched it but there is no harm in having a diverse portfolio that includes Crypto.

 

[peterward]

Think mines gone down about £1200 in the last week

Hold your VET sheebo, anything you have in top 20 (i think all yours were) will recover. ETH for sure will. Almot certain you wont lose if you dont sell....

 

[Tom Hark Preston Park]

Bit sad to come on and gloat. What makes you assume that anyone is cashing out? There maybe people on here buying in and looking at this as a potential opportunity and points to buy in at. I don’t pretend to have million or made millions here I joined in the later stages of 2020, havnt traded in bitcoin at all but have in ADA, EOS and ETH. Spent £500 on each and left it well alone. Currently I am substantially better off with it where it is than i would have been with it sitting in a bank even with large losses this week and potentially more to come.
I don t plan on touching any of them, everyone who does Crypto knows the risk or should have researched it but there is no harm in having a diverse portfolio that includes Crypto.

No gloating here. I genuinely hope everyone on here manages to get out with their fiat float more or less intact and the Withdraw facility not 'temporarily' suspended

 

[Notters]

News of China's fresh clampdown coming hard on the heels of EM's tweets would appear to have caused the herd to stampede. Good luck cashing out

There is no fresh China clampdown as far as I can tell, just the same one they've been banging on about for years.

 

[Marshy]

Now its pump time...

Parabolic this will be

 

[Albion Dan]

Well the correction I was talking about well and truly came! Be interesting to see if we get a recovery here so that the weekly can finish above the 21EMA, if not other key levels for BTC below the current $38k are 32, or worst case should be around the 20 mark.

 

[Tom Hark Preston Park]

There is no fresh China clampdown as far as I can tell, just the same one they've been banging on about for years.

You may well be right. But Google Search on 'China bitcoin' and News tab is plenty enough to spook the market sentiment. And let's face it, these guys are not the smartest. #prayforbitcoin

 

[Diablo]

Well the correction I was talking about well and truly came! Be interesting to see if we get a recovery here so that the weekly can finish above the 21EMA, if not other key levels for BTC below the current $38k are 32, or worst case should be around the 20 mark.

year ago Bitcoin £7500 so even at current £27000 doing pretty well. How likely is it to go sub £20k or even £10k again.........If only we knew !!!

 

[KeegansHairPiece]

Hold your VET sheebo, anything you have in top 20 (i think all yours were) will recover. ETH for sure will. Almot certain you wont lose if you dont sell....

Time to get on for the lurkers amoung us?

 

[peterward]

There is no fresh China clampdown as far as I can tell, just the same one they've been banging on about for years.

China FUD near a bitcoin bottom is as predictable as a Zaha dive.

This is about the 15th time theyve banned bitcoin to some extent near a bottom!.... I honestly thin the Chinese government are accumulating it.

This latest one dosnt stop people holding it, just doesnt allow payment processors using it and may be an issue for FIAT/Cryto gateways.

https://www.reuters.com/technology/chinese-financial-payment-bodies-barred-cryptocurrency-business-2021-05-18/

Good news, India has suggested its total ban on Crypto should be reviewed

https://cointelegraph.com/news/indian-government-is-rethinking-crypto-ban-economic-times

Whatever they do, they wont stop a 100K+ btc - shake out of retail plebs like me (but the ones who bottle and sell)

 

[KeegansHairPiece]

I've been looking at ATOM for a while. I'm fortunate I didn't jump in. It's gone from $23 to $12 in 12 hours.

edit: it literally dropped another $2 to $10 as I typed that and watched the charts....

 

[Berty23]

I am very relieved I took loads out last week. Phew!

 

[Tom Hark Preston Park]

I've been looking at ATOM for a while. I'm fortunate I didn't jump in. It's gone from $23 to $12 in 12 hours.

edit: it literally dropped another $2 to $10 as I typed that and watched the charts....

This is the horrendous reality unfortunately. Genuinely feel sorry for anybody risking blowing their retirement funds and/or their kids college funds on these stupid internet magic beans. And watching the candles or whatever is about as wise as listening to the endearments of the Endowment Mortgage salesmen of yesteryear and paying any attention to their future projections based on past performance. Cos that always worked out really well

 

[Tyrone Biggums]

What a time to have held a bunch of cash back for just these moments!

 

[peterward]

Time to get on for the lurkers amoung us?

I cant advise you of what you should do my friend, its wild with a lot of volatlity! if you dont know what you're doing going for top 30 or so coins with real utility i safest.

If I was starting out with a small amount - a bit of BTC and ETH

A bit of BNB (as Binance and Binance chain isnt going anywhere)

Id definitely go quite large into SOL more than anything and MATIC almost as much.

For a decent lowercap DEFI project CFI cyberfi

What SOL/MATIC and CFI all have in common is if you hold a number of tokens on their platforms they have launch fund raisers of newer projects - often by ballot, and a lot of those are good quality and will do many X straight off the bat - perfect for a quick 200% or take out your stake and leave the rest longer term etc.

Some cracking looking projects coming up on SOL i'm eyeing up (some in next days)

Mercurial - MER
PartyParrot finance $PAI
Solanium SLIM

But these are things I've spent time looking into, they're not investment advice nor do I recommend them.

If you want something a bit lower risk/different? consider opening an account on Kucoin exchange..... send some crypto there and they have an AI trading bot for a lot of top pairs. always works best if you buy on a big pullback a its best for long positions, so if you were to get some BTC or ETH there, with an account...... you'd only need to download app and with a couple of button pushes you can deploy the AI trading cloud bot who is going to grid trade for you and spike trade with Arbitrage. You can just leave it alone to do its thing...... If for intance you sent $500 of say ETH to kucoin and engaged the AI bot, it will sell half of that ETH at the current spot price so you have both sides of the pair you're trading (ETH/USDT) for instance or (ETH/BTC)... its then going to be auto placing buy/sell orders within a range (it will set the range automatically, but you can change it, its gonna be buying more near the bottom of range and selling more near top.... mine has equivalent of $1300, it placed 72 trades yesterday (inc arbitrage) and made $88 in the day.......but its till better if you buy near bottom of a pullback, so knowing ranges of a pair helps!

 

[beorhthelm]

er, correction, 45-50% losses across the board. usually laugh in the face of 20% drops this is definitely squeaky bum time. all the supports have failed, the bear projections look optimistic. doubtful BTC will recover the weekly 20 MA from here so might be the end of the cycle. balls of steel to be entering, i did have a cheeky recovery punt but thats long gone.

just seen gas fee 1685! this leads me to speculate something thats been concerning me a while, how much of the pump is on leverage. many have been easily borrowing crypto to buy crypto, and rolling it up again. i wondered if this would lead to a spectatcular unwinding...

 

[KeegansHairPiece]

I cant advise you of what you should do my friend, its wild with a lot of volatlity! if you dont know what you're doing going for top 30 or so coins with real utility i safest.

If I was starting out with a small amount - a bit of BTC and ETH

A bit of BNB (as Binance and Binance chain isnt going anywhere)

Id definitely go quite large into SOL more than anything and MATIC almost as much.

For a decent lowercap DEFI project CFI cyberfi

What SOL/MATIC and CFI all have in common is if you hold a number of tokens on their platforms they have launch fund raisers of newer projects - often by ballot, and a lot of those are good quality and will do many X straight off the bat - perfect for a quick 200% or take out your stake and leave the rest longer term etc.

Some cracking looking projects coming up on SOL i'm eyeing up (some in next days)

Mercural - MER
PartyParrot finance $PAI
Solanium SLIM

But these are things I've spent time looking into, they're not investment advice nor do I recommend them.

If you want something a bit lower risk/different? consider opening an account on Kucoin exchange..... send some crypto there and they have an AI trading bot for a lot of top pairs. always works best if you buy on a big pullback a its best for long positions, so if you were to get some BTC or ETH there, with an account...... you'd only need to download app and with a couple of button pushes you can deploy the AI trading cloud bot who is going to grid trade for you and spike trade with Arbitrage. You can just leave it alone to do its thing...... If for intance you sent $500 of say ETH to kucoin and engaged the AI bot, it will sell half of that ETH at the current spot price so you have both sides of the pair you're trading (ETH/USDT) for instance or (ETH/BTC)... its then going to be auto placing buy/sell orders within a range (it will set the range automatically, but you can change it, its gonna be buying more near the bottom of range and selling more near top.... mine has equivalent of $1300, it placed 72 trades yesterday (inc arbitrage) and made $88 in the day.......but its till better if you buy near bottom of a pullback, so knowing ranges of a pair helps!

Thank you - great. I'm only looking of sticking in the value of a very decent 2nd hand bike at present. So if it goes to shit, it will be like having my bike stolen - which I can get over. I'm on Binance at present, I'll have to look into Kucoin and the trading bots - is that unique to them?

Your advice was what I was kind of planning. Something like 45% BTC, 35% ETH, 20% other.

 

[peterward]

er, correction, 45-50% losses across the board. usually laugh in the face of 20% drops this is definitely squeaky bum time. all the supports have failed, the bear projections look optimistic. doubtful BTC will recover the weekly 20 MA from here so might be the end of the cycle. balls of steel to be entering, i did have a cheeky recovery punt but thats long gone.

just seen gas fee 1685! this leads me to speculate something thats been concerning me a while, how much of the pump is on leverage. many have been easily borrowing crypto to buy crypto, and rolling it up again. i wondered if this would lead to a spectatcular unwinding...

32-33 will have wiped out nearly all of the leveraged longs. Its a capitulation 100%, but I've seen so many... depends on your time frame, DCA'ing soon in top projects will reap big imho.

When the emotion is like this and the chart looks like this, this is where the non emotional make money. FOMO and FOLO (fear of losing out) is where most money is lost - emotional trading.

Wouldnt buy anything right now... no knife catching, but get your bids lined up....... Ive had 98% losses recover before... Wait for ETH/BTC to start consolidating and then DCA.