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Cryptocurrency mega-thread

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BACCS said:
That’s correct. The risk off mindset was triggered a month ago, with this event speculated as the likely reason why.
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I'm hoping so. My little research implies there is much more use case for Crypto here in 2021/22, in that the tech is actually being used and changing the world, whereas in 2017(and before) it was still more speculative.. in that people were betting on it changing the world. If this is kinda right, we shouldn't have long periods of bear trends, and may help the rest of the market de-couple from BTC. I mean gaming, there is no reason gaming markets should crash because of BTC(which is seen as a store of value, without much real world application)... I hope it's right.
 

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The Dice Man said:
I'm hoping so. My little research implies there is much more use case for Crypto here in 2021/22, in that the tech is actually being used and changing the world, whereas in 2017(and before) it was still more speculative.. in that people were betting on it changing the world. If this is kinda right, we shouldn't have long periods of bear trends, and may help the rest of the market de-couple from BTC. I mean gaming, there is no reason gaming markets should crash because of BTC(which is seen as a store of value, without much real world application)... I hope it's right.
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I agree on gaming. I think its a lot more dependent on the strength of ETH, as the majority of gaming tokens are on Ethereum and are paired with ETH, not BTC. ETH is somewhat dependent on how BTC is performing still, but it has held up a lot better during this recent correction than BTC; it is 22% down from the ATH vs 33% for BTC. This wasn't the case in 2017, when ETH performed more like the majority of smaller caps now during BTC dumps. When ETH eventually decouples from BTC, which will begin once it can take over as number one, then BTC halving cycles will lose a lot of their impact on the wider market movements.

Have a look at ETH pairings against any of major alts you own to get a gauge on whether they perform against BTC. The DOT/ETH chart is grim viewing.
 
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The Dice Man said:
I'm hoping so. My little research implies there is much more use case for Crypto here in 2021/22, in that the tech is actually being used and changing the world, whereas in 2017(and before) it was still more speculative.. in that people were betting on it changing the world. If this is kinda right, we shouldn't have long periods of bear trends, and may help the rest of the market de-couple from BTC. I mean gaming, there is no reason gaming markets should crash because of BTC(which is seen as a store of value, without much real world application)... I hope it's right.
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There are two main groups of people who are into crypto. The money/libertarians and the tech type. The tech is advancing and has undoubtedly overtaken the monetary usage of crypto. The banking system has caught up with and overtaken crypto in many aspects like speed, low fees, and ease of use.

In the last cycle, many altcoin holders were hoping for a decoupling from bitcoin. There was speculation that having USDT pairs would make that happen, that BTC was mainly being bought because it was a necessary intermediate between fiat and alts. Think of NANO or XRP for example; they're fast, environmentally friendly, and have low transaction fees.

My view is that BTC fuels the altcoin markets. Without a healthy BTC, alts die. That has proven true over previous cycles. Whether this time is different, we'll find out in due course. I'm skeptical.

The real world application of BTC is as a hedge against global monetary systems and governments. I would have thought that would be right up your alley.
 
BACCS said:
I agree on gaming. I think its a lot more dependent on the strength of ETH, as the majority of gaming tokens are on Ethereum and are paired with ETH, not BTC. ETH is somewhat dependent on how BTC is performing still, but it has held up a lot better during this recent correction than BTC; it is 22% down from the ATH vs 33% for BTC. This wasn't the case in 2017, when ETH performed more like the majority of smaller caps now during BTC dumps. When ETH eventually decouples from BTC, which will begin once it can take over as number one, then BTC halving cycles will lose a lot of their impact on the wider market movements.

Have a look at ETH pairings against any of major alts you own to get a gauge on whether they perform against BTC. The DOT/ETH chart is grim viewing.
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I had a look at the DOT/ETH... it's not as grim as DOT/USD, but Im not taking into account ETH/USD.
 
ADA/ETH is another than has bled since the September high and is at the same level it was at the beginning of 2020. As well as some coins have done so far in this cycle, none have gone close to taking over ETH and don't look capable of doing so this cycle.
 
Evolved1 said:
There are two main groups of people who are into crypto. The money/libertarians and the tech type. The tech is advancing and has undoubtedly overtaken the monetary usage of crypto. The banking system has caught up with and overtaken crypto in many aspects like speed, low fees, and ease of use.

In the last cycle, many altcoin holders were hoping for a decoupling from bitcoin. There was speculation that having USDT pairs would make that happen, that BTC was mainly being bought because it was a necessary intermediate between fiat and alts. Think of NANO or XRP for example; they're fast, environmentally friendly, and have low transaction fees.

My view is that BTC fuels the altcoin markets. Without a healthy BTC, alts die. That has proven true over previous cycles. Whether this time is different, we'll find out in due course. I'm skeptical.

The real world application of BTC is as a hedge against global monetary systems and governments. I would have thought that would be right up your alley.
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It is indeed, and part of what got me into the game where I saw what banks gave me for my money sitting there, compared to what crypto could. Yet I've been in it for the money side and have never held BTC, unless it was needed to buy something else. I was hoping more could be made from lower caps. Greed I guess. Would have been much more simply to buy ETH or BTC back in June and just let it ride. ETH still up more than double.
 
Evolved1 said:
There are two main groups of people who are into crypto. The money/libertarians and the tech type. The tech is advancing and has undoubtedly overtaken the monetary usage of crypto. The banking system has caught up with and overtaken crypto in many aspects like speed, low fees, and ease of use.

In the last cycle, many altcoin holders were hoping for a decoupling from bitcoin. There was speculation that having USDT pairs would make that happen, that BTC was mainly being bought because it was a necessary intermediate between fiat and alts. Think of NANO or XRP for example; they're fast, environmentally friendly, and have low transaction fees.

My view is that BTC fuels the altcoin markets. Without a healthy BTC, alts die. That has proven true over previous cycles. Whether this time is different, we'll find out in due course. I'm skeptical.

The real world application of BTC is as a hedge against global monetary systems and governments. I would have thought that would be right up your alley.
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I don't think BTC fuels the altcoin cycles like it did in 2017. As I speculated above, I think ETH is doing a lot of this leg work now. ETH is also holding up in this recent nuke a lot better than BTC, there is something in that. It's easy to sometimes forget that ETH is a half trillion dollar asset, it takes a lot to move it.
 
BACCS said:
ADA/ETH is another than has bled since the September high and is at the same level it was at the beginning of 2020. As well as some coins have done so far in this cycle, none have gone close to taking over ETH and don't look capable of doing so this cycle.
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So... ETH had been the most reliable hold over the last 6 months, is what I'm taking out of what you're saying?
 

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The Dice Man said:
So... ETH had been the most reliable hold over the last 6 months, is what I'm taking out of what you're saying?
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Yep, as reliable at BTC during May-August and in recent times, the most reliable blue chip hold. It's a half trillion dollar asset versus BNB at less than 100B, nothing else comes close. People love Solana, but its at a 10th of the value.
 
cotter101 said:
I’ve finally withdrew the funds I kept in my crypto account after selling most of my holdings weeks ago. I’d kept them there to see what happens but it’s only down from here imo.

Will continually check but I don’t think it’s wise to be trying to buy the ‘dip’.
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If you sold most of your holdings weeks ago, capitulating here and selling the rest makes very little sense to me.
 
BACCS said:
I don't think BTC fuels the altcoin cycles like it did in 2017. As I speculated above, I think ETH is doing a lot of this leg work now. ETH is also holding up in this recent nuke a lot better than BTC, there is something in that. It's easy to sometimes forget that ETH is a half trillion dollar asset, it takes a lot to move it.
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I see it as BTC fueling ETH which fuels the other alts. I'll be surprised if ETHBTC holds up through a BTC bear market.

The crypto markets are linked to BTC halving cycles. That's been true up to now.

All I'm saying is that I'm skeptical about anything changing in that respect.
 
Evolved1 said:
I see it as BTC fueling ETH which fuels the other alts. I'll be surprised if ETHBTC holds up through a BTC bear market.

The crypto markets are linked to BTC halving cycles. That's been true up to now.

All I'm saying is that I'm skeptical about anything changing in that respect.
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I understand up until now that has been the case, but when ETH overtakes BTC in market cap, I see this changing. This could take another 2-3 years, but I would be betting on it happening eventually.
 
BACCS said:
If you sold most of your holdings weeks ago, capitulating here and selling the rest makes very little sense to me.
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Withdrew meaning I took the money out and it’s in my bank account. Prior to that, I kept the funds sitting in my crypto wallet incase I wanted to buy again quickly.
 
cotter101 said:
Withdrew meaning I took the money out and it’s in my bank account. Prior to that, I kept the funds sitting in my crypto wallet incase I wanted to buy again quickly.
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Ahh, that makes more sense! When did you sell? Also, it's better off accumulating interest on a platform like AAX, Nexo, Celsisus etc than sitting in your bank account.
 

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