[Finance] The cryptocurrency (Bitcoin etc) thread

[DJ NOBO]

I’ve been reading over this thread is any technical analysis carried out before plunging into this market? It does come across as a bit hit and hope. I don’t trade Crypto yet if you could read a chart it was indicated reasonably early there was going to be a change in trend to the downside. I’m actually quite annoyed I didn’t short BTC would of been a nice ride down.

When I get a minute I will post a chart and the indication hopefully might help people in future.

Plenty of analysis, facts and figures out there.
There’ll also be a current tweet somewhere correctly predicting exactly what will happen next.
The problem is there’ll be many more that get it all wrong.
If trends were easy to predict, by any means, everyone on this thread would be a billionaire.
Experience helps but the you also need luck in this game.

 

[CheeseRolls]

I actually pulled everything out yesterday luckily and I'm gonna sit on cash for a bit. Maybe stack up some more in copper and Nvidia !!

Last time there was a crypto crash in 2017 the whole of 2018 was a slow bleed. I wonder if it will be similar this time around. A year of sideways?

I'm hoping BTC pulls back to around $20k and then I will execute some huge long positions in ETH and possibly some other coins.

My entirely amateur view of what is happening, is that any downward movement in bitcoin results in relatively big outflows from alt coins, to fund short term positions in bitcoin. This trick can be repeated until such point as the amatuers stop panic selling alt coins, to let the big boys back in at a lower price. A steady bitcoin will likely lead to some more selective money movements across alt coins, rather than everything rising and falling in response to the slightest change in bitcoin.

 

[beorhthelm]

My entirely amateur view of what is happening, is that any downward movement in bitcoin results in relatively big outflows from alt coins, to fund short term positions in bitcoin. This trick can be repeated until such point as the amatuers stop panic selling alt coins, to let the big boys back in at a lower price. A steady bitcoin will likely lead to some more selective money movements across alt coins, rather than everything rising and falling in response to the slightest change in bitcoin.

you're refering to manipulation. that does happen, though there another more simple reason. bitcoin is major price pair for most alts so when it drops significantly in short time frames, the $ price for everything gets hit. bots responding to arbitrage opportunities outweigh normal trading flow.

 

[CheeseRolls]

you're refering to manipulation. that does happen, though there another more simple reason. bitcoin is major price pair for most alts so when it drops significantly in short time frames, the $ price for everything gets hit. bots responding to arbitrage opportunities outweigh normal trading flow.

I am talking about arbitrage rather than price manipulation.

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[Smirko]

Just went in for 25% BTC and 75% Cardo, here for the long haul so happy to sit through the troughs to ride the wave home!

 

[SK1NT]

I use Revolut app on my phone, relly simple, all free no fees. Im sure there are other options.

But i like your plans, buy one you like and hold

I am still confused. Read this about revolut:

Cryptocurrency Wallets. Revolut doesn't support individual cryptocurrency wallets. Instead, your cryptocurrencies are stored in a 'pooled' virtual account and your balance is recorded on their internal ledger. If you're a standard Revolut user, you can't send (or receive) cryptocurrencies outside of Revolut

two questions: Does it matter that individual crypto wallets are not supported.

I cannot trade outside revolut. I would have thought a wallet that allows me to trade across all wallets?

I am probably sounding like an absolute noob here.

 

[SK1NT]

Wait until Sunday, you normally get a bit more of a discount on price with the markets shut.

Shot up today

 

[Tyrone Biggums]

Shot up today

Sunday isn't over, Asia buys then the US and Europe start to sell traditionally on a Sunday.

I wouldn't be buying anything just yet with the market so volatile.

If the bearish sentiment continues you'll have plenty of chances to buy into the market.

 

[peterward]

I follow the money. And Gregg Kidd is behind Global ID. He is seriously connected, everything he touches turns to Gold. Also its a great idea.

If he is invovled its a sure fire win in my opinion.

Did you invest in ico? is global.id listed yet?

 

[SK1NT]

View attachment 85654

This guy has been on social media since a few hours ago and people have already sent him about £500 worth of bitcoin !

https://bitref.com/1DBqpfptUMizLDACvMVsrJFPdMtbgmZCk1

This guy must be minted smart guy

 

[KeegansHairPiece]

2 weeks in with a £610 stake....current value £609. Who said this crypto stuff was volatile!?

 

[Lower West Stander]

Sunday isn't over, Asia buys then the US and Europe start to sell traditionally on a Sunday.

I wouldn't be buying anything just yet with the market so volatile.

If the bearish sentiment continues you'll have plenty of chances to buy into the market.

When isn’t the market volatile?


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[Tyrone Biggums]

When isn’t the market volatile?


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When it's in a bear market is an example.

It's boring as **** when in a bear market.

 

[giveusfalmerplease]

All my trades in green today (after dumping the losses ) sold BTC at 37 ( bought at 40 ) but rebought last night at 35 and it's now up to 37..no wait..wtf..dropped 500 in THREE MINUTES. Boy need to just put stop loss on and delete the app, enjoy my holiday and review next month

 

[Lower West Stander]

When it's in a bear market is an example.

It's boring as **** when in a bear market.

Eh?

Vol is vol no matter what market you are in.

Look at the VIX....


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[Tyrone Biggums]

Eh?

Vol is vol no matter what market you are in.

Look at the VIX....


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You asked when is the market not volatile, I told you when.

It can move along sideways like a snail in the middle of a bearish run.

 

[giveusfalmerplease]

got onto binance now but still had time to make another mistake!, sold most of my stock on eToro forgetting that i already made the loss at the time of purchase and might as well have left it there!. Anyway great to see buying fees of 0.1% instead of 2-4% i was being charged on eTorro!

So for the benefit of future readers. DONT USE ETORO - its bl00dy expensive.
Now, all i need to do is work out if im making a profit or loss on Binance (You buy in GBP but it shows all trade balances as a bulk USD/BTC amount so i cannot work out if i made a profit or loss on any given trade!)
If anyone can answer this point that would be great !

 

[Gazwag]

got onto binance now but still had time to make another mistake!, sold most of my stock on eToro forgetting that i already made the loss at the time of purchase and might as well have left it there!. Anyway great to see buying fees of 0.1% instead of 2-4% i was being charged on eTorro!

So for the benefit of future readers. DONT USE ETORO - its bl00dy expensive.
Now, all i need to do is work out if im making a profit or loss on Binance (You buy in GBP but it shows all trade balances as a bulk USD/BTC amount so i cannot work out if i made a profit or loss on any given trade!)
If anyone can answer this point that would be great !

You can change currency in options so its all in GBP

 

[monty uk]

got onto binance now but still had time to make another mistake!, sold most of my stock on eToro forgetting that i already made the loss at the time of purchase and might as well have left it there!. Anyway great to see buying fees of 0.1% instead of 2-4% i was being charged on eTorro!

So for the benefit of future readers. DONT USE ETORO - its bl00dy expensive.
Now, all i need to do is work out if im making a profit or loss on Binance (You buy in GBP but it shows all trade balances as a bulk USD/BTC amount so i cannot work out if i made a profit or loss on any given trade!)
If anyone can answer this point that would be great !

I'm new to this and feeling my way too, so don't shoot me...

Top right > set to GBP
In Margin box, Choose FIAT, then GBP
it should offer prices underneath in xxx/GBP.
Then the top left area shows selected coin and it's £value.

In the wallet > FIAT and spot dropdown you should be able to see the value of your holdings in pounds. At least it does on mine.

Also appears on the phone App quite nicely.

Hope this helps, sometimes it's easier to get information and help from a newbie rather than an expert.

 

[giveusfalmerplease]

lots of lovely green candles today - just a shame i decided to reduce my risk limit after 20% losses in my first week of trading. Oh well good start to the second week!