Cryptocurrency (Bitcoin, Ethereum etc) Page 21

  • Armoured_Bear 2 Jan 2021 20:11:58 30,322 posts
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    ResidentKnievel wrote:
    I think the bitcoin price is going to spike down dramatically next week, same for the stock market as they start to reflect reality.
    ........
  • ResidentKnievel 2 Jan 2021 22:50:27 7,565 posts
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    Well I was spectacularly wrong lol

    Still though, it's a bubble, and anyone with money in crypto should pick a time to cash out and not hold on forever to bitcoin or some crappy altcoin thinking it'll change the world.

    The time to cash out for me will be when people with no idea about bitcoin start asking me about it.

    Edited by ResidentKnievel at 22:52:05 02-01-2021
  • Armoured_Bear 2 Jan 2021 23:26:36 30,322 posts
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    ResidentKnievel wrote:
    Well I was spectacularly wrong lol

    Still though, it's a bubble, and anyone with money in crypto should pick a time to cash out and not hold on forever to bitcoin or some crappy altcoin thinking it'll change the world.

    The time to cash out for me will be when people with no idea about bitcoin start asking me about it.
    Haha, I bought some Cardano and was thinking about some Chainlink as a punt.
  • dfunked09 3 Jan 2021 00:00:28 1,993 posts
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    Blimey... I put $200 into bitcoin on etoro earlier in the year for the laugh after cashing out some other stocks... It's now just about to break $600. To cash out or not to cash out...
  • drumbegmonsmeg 16 Jan 2021 14:37:35 31 posts
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    @dfunked09 Move the $600 into a copy. I've had some cash in a copy for a while now with great results. Crypto forms a part of the copy, but I let someone else made the decisions as to when to buy/sell.
  • ResidentKnievel 6 Feb 2021 19:28:29 7,565 posts
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    The price of bitcoin crashed from its peak in 2017 on the same day as the Bitcoin CME futures market was introduced (an instrument institutional investors use to invest in an asset with reduced risk).

    Ethereum CME futures will be introduced tomorrow, I'm not expecting this to cause a crash of the entire crypto space, but if it does knock the bitcoin price below 38k tomorrow, it'll start to look like a double top formation (v.bad) is starting to form on the 3 day and weekly bitcoin price chart.

    Of course if bitcoin closes tomorrow night above 38k the price will probably continue to explode upwards.

    Either way I've cashed out all my crypto in to normal people currency and I am waiting to see what things are like next week before buying in again.
  • askew 6 Feb 2021 20:18:05 23,225 posts
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    Nice intel, thanks. I’ll set a limit…
  • ResidentKnievel 6 Feb 2021 20:41:19 7,565 posts
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    Bitcoin falling from a double top formation after reaching an all time high would be entirely new, as it usually shoots to new highs then quickly doom drops 75%.

    But it's best to be cautious and continually assess the market. Blindly holding makes you more money if you cash out at the top, but people who blindly hold rarely cash out at the top.
  • Armoured_Bear 6 Feb 2021 21:42:45 30,322 posts
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    ResidentKnievel wrote:
    The price of bitcoin crashed from its peak in 2017 on the same day as the Bitcoin CME futures market was introduced (an instrument institutional investors use to invest in an asset with reduced risk).

    Ethereum CME futures will be introduced tomorrow, I'm not expecting this to cause a crash of the entire crypto space, but if it does knock the bitcoin price below 38k tomorrow, it'll start to look like a double top formation (v.bad) is starting to form on the 3 day and weekly bitcoin price chart.

    Of course if bitcoin closes tomorrow night above 38k the price will probably continue to explode upwards.

    Either way I've cashed out all my crypto in to normal people currency and I am waiting to see what things are like next week before buying in again.
    I only have some Cardano, hmm, what to do?
  • ResidentKnievel 6 Feb 2021 23:31:30 7,565 posts
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    Nice, Cardano has went crazy recently.

    Cardano may be good long term versus bitcoin, it's looking like it's going to turn around its long term trend of lower highs and lower lows on the weekly and monthly chart. But if bitcoin tanks versus the dollar/pound/fiat currencies then everything else will, too.

    And what you do is up to you, if you think the CME futures market opening up for Ethereum will have a negative impact then maybe cash out and reassess later. If you think it'll be priced in this time and crypto will explode on upwards over the next week then maybe stay in.

    I'm trying to be cautious so if it does explode upwards I'll miss out on some gains, but I've already made profit so *shrug*.

    Edited by ResidentKnievel at 23:34:01 06-02-2021
  • ResidentKnievel 8 Feb 2021 20:31:30 7,565 posts
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    Elon Moonsk does it again.

    BTC Shot up from 39k to 45k after Tesla announced they've invested in Bitcoin and will accept bitcoin payments for their coins, pretty much countering any negative impact the Ethereum CME market opening might have had. (at least for a few hours)

    https://www.bbc.co.uk/news/business-55939972

    I still would be wary about buying in at this price, even if it's looking more and more likely that Bitcoin is going to hit six digits this year. I'm hoping for a dump to around 35K support levels later this week before buying in again.

    Edited by ResidentKnievel at 20:32:49 08-02-2021
  • Load_2.0 8 Feb 2021 21:16:09 33,039 posts
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    The value of crypto's being susceptible to a tweet is what makes me wary about them as a long term investment.

    It's great if you have the juice and influence to swing it to your advantage. Not so much if you're not a billionaire.
  • sport 8 Feb 2021 21:21:04 16,837 posts
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    Thank you Papa Elon.
  • Load_2.0 8 Feb 2021 21:24:08 33,039 posts
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    I've gone hard on Doge. Took out a 10k loan to finance it.
  • Armoured_Bear 8 Feb 2021 21:24:11 30,322 posts
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    ResidentKnievel wrote:
    Nice, Cardano has went crazy recently.

    Cardano may be good long term versus bitcoin, it's looking like it's going to turn around its long term trend of lower highs and lower lows on the weekly and monthly chart. But if bitcoin tanks versus the dollar/pound/fiat currencies then everything else will, too.

    And what you do is up to you, if you think the CME futures market opening up for Ethereum will have a negative impact then maybe cash out and reassess later. If you think it'll be priced in this time and crypto will explode on upwards over the next week then maybe stay in.

    I'm trying to be cautious so if it does explode upwards I'll miss out on some gains, but I've already made profit so *shrug*.
    Cardona has went from 0.16 to 0.7, quite a nice potential profit, really don't know enough to gauge what could happen. With the extra bitcoin boost today, think I'll hold on a bit longer.
  • ResidentKnievel 8 Feb 2021 23:26:43 7,565 posts
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    Okay this is dumb now
  • dfunked09 9 Feb 2021 09:40:52 1,993 posts
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    Load_2.0 wrote:
    I've gone hard on Doge. Took out a 10k loan to finance it.
    Proper kicking myself for getting rid of my mined (for the lols) Doge back when it was worth something silly like $0.0002 >_
  • fontgeeksogood 9 Feb 2021 10:25:37 12,913 posts
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    Could be worse, you could have lost the wallet
  • POPTONES 9 Feb 2021 15:53:45 465 posts
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    If you have a small amount of ethereum is it worth just transferring it into Bitcoin or should I keep on to both?
  • ResidentKnievel 26 Feb 2021 21:58:33 7,565 posts
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    BTC may have topped out at 58k, if it doesn't get above that price next month then this bull cycle is very likely over for the next few years.

    I'm hoping it will consolidate at around 40k-50k over the next couple of weeks and will trade support and resistances then see where it's at after that.

    Edited by ResidentKnievel at 22:09:07 26-02-2021
  • Armoured_Bear 17 Mar 2021 11:47:27 30,322 posts
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    I bought some XLM yesterday, thinking of getting some Digibye on next dip.
    My CHZ has halved but still at 2x what I paid the other week and Cardano is looking nice to hold long term...
    Not going near BTC.
  • Tonka 17 Mar 2021 13:36:41 31,789 posts
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    Do any of you see crypto as anything but investment, as in are there any actual use cases beyond financial speculation?

    Edited by Tonka at 13:38:54 17-03-2021
  • brokenkey 17 Mar 2021 13:45:17 10,948 posts
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    Tonka wrote:
    Do any of you see crypto as anything but investment, as in are there any actual use cases beyond financial speculation?
    Buying things that you can't buy with normal methods. So illegal sutff.

    Central Bank Digital Currencies *might* change that, but those won't be speculative assets, they'll be stable coins (or more realistly, e-money).
  • ResidentKnievel 17 Mar 2021 15:57:33 7,565 posts
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    No point in legal cryptocurrencies when banks are looking at blockchain tech replacing their own ledgers for fiat currencies.

    BTC probably has a future as a store of value like gold, ETH might have a future as the thing that enables the latest internet fad and monero has a future as the drug dealer's currency of choice.
  • Tonka 17 Mar 2021 17:45:40 31,789 posts
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    brokenkey wrote:
    Tonka wrote:
    Do any of you see crypto as anything but investment, as in are there any actual use cases beyond financial speculation?
    Buying things that you can't buy with normal methods. So illegal sutff.

    Anonymous digital transfers. Good point.
  • Tonka 17 Mar 2021 17:47:06 31,789 posts
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    Reason I asked is because I've been reading up a bit on NFTs and it made me feel as if I was a character in The Big Short.

    The emperor has no clothes.
  • brokenkey 17 Mar 2021 18:33:20 10,948 posts
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    Well not yet. I read today that mining of actual bitcoin should continue until 2040, and then the miners will only earn transaction fees, which won't be viable. But the complexity of mining by that point could reach the stage of needing a power source the size of the sun to mine the last block, such will be the difficulty.
  • brokenkey 17 Mar 2021 18:33:54 10,948 posts
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    NFTs for art are a total con though.
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