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Cryptocurrency mega-thread

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ash_1050 said:
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I'm curious as to why the green circle means the market (and you) are suddenly bullish about a recovery, and not any of the 17 blue circles over the last 3 months? What makes the green one different to any of the blue ones? Why is $29k your new bottom of the market prediction?
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For the point I just stated above. Buying volume between 31-34k is significantly higher than any other price point since 12k. It’s not just bullish luck that anytime price dips below 30k over the last 2 months that it either rebounds almost immediately or within a day. I can’t predict with 100% accuracy when the bull cycle resumes again as I don’t have a crystal ball, but I do believe the bottom is in based on the above. The RSI also triggers oversold signals each time it dips below 30k which is just another confirmation signal.
 
ash_1050 said:
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BTC trading volumes are at 6 month lows over the last 3 weeks, BTC isn't changing hands as interest has dropped right off. BTC is going back to obscurity for a bit, as the mainstream media has stopped covering it pretty much altogether.
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Absolutely no doubt about the lack of retail interest atm, that’s super clear by reading comments on CT. However, as I’m sure you know, the majority of these people are those that buy at tops and panic sell as it drops. The aggregate funding rate is also negative and this is generally a bullish sign as shorters are getting liquidated.
 

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BACCS said:
If you can’t be bothered reading the threads, Alex has been asking for BTC loans from others in the crypto community that he knows and then never pays it back. Or in Richard’s case where he didn’t loan him a cent, decided to bag him publicly on social media. Sounds like he might have a bit of an issue borrowing money for leverage trading and then can’t pay it back.
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Hmm not so sure I believe it to be honest. I don't actively follow him myself but I know there's quite a few people in this thread who follow Alex. He's never really strongly shilled anything except Ethereum, and he discloses all of his other holdings (unless most of the other guys in the space).

I saw the video with Richard as well (see below from 29 minutes if you want to see from when it gets heated). Felt to me like Richard, with his shouting and swearing, felt like he was intimidated by someone trying to debunk all the hype he promotes.
 
LongBombFromOutside50 said:
Hmm not so sure I believe it to be honest. I don't actively follow him myself but I know there's quite a few people in this thread who follow Alex. He's never really strongly shilled anything except Ethereum, and he discloses all of his other holdings (unless most of the other guys in the space).

I saw the video with Richard as well (see below from 29 minutes if you want to see from when it gets heated). Felt to me like Richard, with his shouting and swearing, felt like he was intimidated by someone trying to debunk all the hype he promotes.
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Why would someone make up DMs like that though? It seems like Ben Armstrong, Richard Heart and Alex Saunders all know each other from way back as BTC OGs and have got along fine until now. I’m sure Alex has been fine in the past, but it sounds like he’s made some bad highly leveraged trades recently and doesn’t have enough liquid supply to pay back loans so is reaching out to crypto friends for help. If it was a complete load of bs, Alex would’ve responded publicly by now; instead, Ben mentioned that Alex DMed him straight after with payment terms for the 5BTC loan.
 
BACCS said:
Why would someone make up DMs like that though? It seems like Ben Armstrong, Richard Heart and Alex Saunders all know each other from way back as BTC OGs and have got along fine until now. I’m sure Alex has been fine in the past, but it sounds like he’s made some bad highly leveraged trades recently and doesn’t have enough liquid supply to pay back loans so is reaching out to crypto friends for help. If it was a complete load of bs, Alex would’ve responded publicly by now; instead, Ben mentioned that Alex DMed him straight after with payment terms for the 5BTC loan.
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Don't know and don't care tbh. I don't think they know each other at all. Definitely didn't seem like they knew each other in that video stream.
 
BACCS said:
The reason I’m most bullish is due to how low the retail sentiment is on Twitter, that’s exactly when price does the exact opposite and catches people off guard. Retail sentiment after the 2018 crash was still bullish for a couple of months, which is a complete opposite to now. Will be so many that buy high and sell low again. Even neutral posts are getting slammed as hopium on Twitter.
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Why do you think that?

Sentiment went from insanely bearish at 6k in February to insanely bullish in March 2018 when we hit 11k.

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BACCS said:
Anyone get in on the dip yesterday? I stayed out this time, but damn MATIC was tempting when it dipped to 60 cents. Already up about 25% since that point.
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Bought 29.8k targets at 38k and 43k, stop loss 26k.
 
BACCS said:
I’m just going off the memory of analysts on CT that were around during that time, Willy Woo for one.
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This market reminds me of 2018 which is why I won't be surprised if we bounce around for the next 6 months before breaking below 29k. I still think 43k will be hit at some stage hence the target.

For bullish continuation, I want to see a rise in BTC.D first. If not, I'll be looking for shorts higher up.

Word of advice is to consider BTC.D in your analysis. It's a good time to be fearful when BTC is weak while alts go nuts.
 
Evolved1 said:
This market reminds me of 2018 which is why I won't be surprised if we bounce around for the next 6 months before breaking below 29k. I still think 43k will be hit at some stage hence the target.

For bullish continuation, I want to see a rise in BTC.D first. If not, I'll be looking for shorts higher up.

Word of advice is to consider BTC.D in your analysis. It's a good time to be fearful when BTC is weak while alts go nuts.
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BTC.D is near the top of my watchlist and I agree 100% with you. BTC needs to have its major run first and then alt season can take over. Need the dominance to get above 60% again for the 2nd half of this year to be truly explosive across most coins.
 

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BACCS said:
Yes, or through platforms like BlockFi, Celsius and Nexo. Even Crypto.com is earning me 7% on my MATIC. I’m earning 7% on my BTC, ETH and XRP on Nexo and will move my DOT and ADA there soon for the same returns.
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Update to this md20, Crypto.com is also now offering 8% on DOT for one month fixed terms. It’s also actually 8% on MATIC for one month fixed terms. Flexi terms for both are at 6% (can withdraw anytime).
 
Shupe said:
I'm sure crypto.com is fine, but also remember it is a centralised exchange. What's the saying - not your keys, not your....
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I know the saying, but the security on these platforms is continually getting stronger. Crypto.com are partnered with Ledger for their security, as an example. Your funds are technically stored in ‘cold wallets’ until you want to trade. I will get a hardware wallet someday, but losing my money to a hack on these major exchanges i think is just as likely as me losing the personal key to a hardware wallet.
 
BACCS said:
I know the saying, but the security on these platforms is continually getting stronger. Crypto.com are partnered with Ledger for their security, as an example. Your funds are technically stored in ‘cold wallets’ until you want to trade. I will get a hardware wallet someday, but losing my money to a hack on these major exchanges i think is just as likely as me losing the personal key to a hardware wallet.
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My thought as a trader is that I'm more likely to lose money sending it between exchanges and personal wallet than by keeping it on exchanges. One means of mitigating the risk is by keeping your coins on several exchanges.
 
Evolved1 said:
My thought as a trader is that I'm more likely to lose money sending it between exchanges and personal wallet than by keeping it on exchanges. One means of mitigating the risk is by keeping your coins on several exchanges.
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As a trader, did you see the AXS potential when it had dropped to about 3 bucks in late June? Or are these NFT pumps too hard to trade?
 

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