Cryptocurrency mega-thread

[cotter101]

A lot of people seem ready to sell.

 

[BACCS]

A lot of people seem ready to sell.

I won't be. Whales are clearly selling right now to drive down the price and scare off small investors (like myself), so they can sweep up more crypto at a bargain basement price and pump it for another bigger profit. There is no need to panic in my view, but I know some don't agree with this opinion.

 

[BACCS]

Different take on things, this bloke has done an analysis whereby he’s concluded that we are just coming out of a recent bear market

 

[faible]

Different take on things, this bloke has done an analysis whereby he’s concluded that we are just coming out of a recent bear market

I don't think it's the top either... the question is whether it'll reach that higher price in 2021, or if we're a few years off.

I figure with BTC & ETH they're a solid long-term hold option. You can trade out to USDT or BUSD and try to buy back in at a lower price if you think the drop is only beginning, or just hold what you've got.

A loss is only a loss if you sell, a win is only a win if you sell.

 

[bzparkes]

Doesn't banning exchanges make it hard to buy it?

It's not banned, they just reiterated the current law, according to a few Telegram groups I'm in. No actual change to any current law.

Just like that India FUD a couple of months ago.

 

[BACCS]

I don't think it's the top either... the question is whether it'll reach that higher price in 2021, or if we're a few years off.

I figure with BTC & ETH they're a solid long-term hold option. You can trade out to USDT or BUSD and try to buy back in at a lower price if you think the drop is only beginning, or just hold what you've got.

A loss is only a loss if you sell, a win is only a win if you sell.

I don’t think we are a few years off. Market Cipher data suggests that we are very close to the bottom already ie, we are close to the point where new buyers outweigh dumping by Whales and it starts to trend up again. We may have gone through a mini bear cycle in the middle of a bull run over the last couple of months and are now coming to the end of it already.

 

[Ghost Patrol]

Here's a low cap for the stoners on pancakeswap

$BONG

Looks like it's only a couple days old, 42k market cap. 797 wallet addresses.

https://poocoin.app/tokens/0x7a7ac6e7b765cd6eff3ee8ca252da2d9642614c6

 

[DT_35]

Blood bath

 

[Ron]

Blood bath

Yeah it is a sea of red right now.....

 

[maryjames]

 

[Ghost Patrol]

Reckon btc will bounce on the hour, around $38k usd

 

[maryjames]

Couldn’t help myself as a degenerate I just bought shitloads of Ada.
Lol

 

[HirdyLannister]

Carnage, pulled all my profit coins and down $300 overall.
Whatever I have in their now is spread among many like $100 pools and they've been slaughtered. HODL for them.

Talk about a learning curve an a half, worst week to dip my toes in and trial haha

 

[BACCS]

 

[BACCS]

Carnage, pulled all my profit coins and down $300 overall.
Whatever I have in their now is spread among many like $100 pools and they've been slaughtered. HODL for them.

Talk about a learning curve an a half, worst week to dip my toes in and trial haha

I’m down 5k (7k swing in 5 days), won’t be pulling out my coins. This is discount season for some of the big coins that we may never see again this cheap.

 

[ash_1050]

Called it yesterday that crypto was on the cusp of a bear market, and that's been confirmed today.

BTC -31.13% over the last 7 days
ETH -31.17% over the last 7 days

Fair chance we'll see a slight dead cat bounce in the next 24 hours, but the market as a whole is depressed and will be in a long term bear market. Not a good time to be holding unless you've got a 24+ month time horizon, in which case try buy the bottom instead to DCA rather than buying on the way down. Now is nowhere near the bottom, the bottom for BTC will be >US$30k and ETH >US$2200.

 

[burge13]

Still can't wrap my head around the idea it's "cheap" when there's quite literally zero real-world use case for most coins.

It isn't cheap, it's far from cheap. Most people in here seem to not understand market caps for a start. That is a recipe for disaster, lock in profits on the way up peeps

 

[ash_1050]

Still can't wrap my head around the idea it's "cheap" when there's quite literally zero real-world use case for most coins.

It isn't cheap, it's far from cheap. Most people in here seem to not understand market caps for a start. That is a recipe for disaster, lock in profits on the way up peeps

BTC 2013 bubble


BTC 2017 bubble


BTC 2021 bubble



BTC clearly going at bargain basement prices, it's not an exact replica of the 2013 or 2017 bubbles at all /s

People are being taken for an absolute ride here, desperately hoping they can recoup some losses.

Spoiler alert: If your investment hockey sticks expect a sharp contraction in price once the hockey stick tops out.

 

[burge13]

View attachment 1131673
BTC 2013 bubble

View attachment 1131674
BTC 2017 bubble

View attachment 1131670
BTC 2021 bubble



BTC clearly going at bargain basement prices, it's not an exact replica of the 2013 or 2017 bubbles at all /s

People are being taken for an absolute ride here, desperately hoping they can recoup some losses.

Spoiler alert: If your investment hockey sticks expect a sharp contraction in price once the hockey stick tops out.

I'm not really talking specifically to BTC. People saying ADA, whatever random coin is 'cheap'. No thought to MC, just the $ price. No thought to actual use case or anything important.

If this is a bubble (I'm not starting this argument but if it is) those particular people are going to lose their jocks.

For reference, whatever ADA is, has a 3x larger market cap than Santos. Utter madness

 

[Bostonian]

I'm not even down that much % wise.

 

[ash_1050]

So you're saying this is the shortest bull market on record?

Yes, in the same way the 2020 Covid bubble was the shortest bear market on record for the stock market. The 2013/2017/2021 graphs are near identical thus far. I'm not sure if you remember the 2017 bull run, but I do, and it's played out nearly identical in terms of hype/mania.

 

[Ghost Patrol]

I'm not really talking specifically to BTC. People saying ADA, whatever random coin is 'cheap'. No thought to MC, just the $ price. No thought to actual use case or anything important.

If this is a bubble (I'm not starting this argument but if it is) those particular people are going to lose their jocks.

For reference, whatever ADA is, has a 3x larger market cap than Santos. Utter madness

You sound cheap.

 

[burge13]

One thing that's constant and kind of amazes me it works is "China bans crypto" stories.
They've done this every 6 months since about 2016...

 

[burge13]

You are over priced

Wow. What a well thought out and thought-provoking reply

 

[maryjames]

One thing that's constant and kind of amazes me it works is "China bans crypto" stories.
They've done this every 6 months since about 2016...

Plenty of newbies have no idea also Msm take the piss out of the public.