Cryptocurrency mega-thread

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Shupe

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I didn't realise you recieved them so quickly. You Dot is still locked for 2 years?
They release slowly over the two years. Moonbeam said they'll release 30% when they launch.

Every project is different. And yes the DOT will remain locked until the end of the loan period.

I'll respond to your PM tomorrow.
 

Evolved1

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Interested to get your thoughts on this Evolved1 and anyone else that wants to join in. Do you think news events in crypto are just a way to explain a trend that was already starting to happen anyway?

If we take a look at 2021, prices had basically been on up only for 6 months and then news events like Elon Musk/Tesla selling and minining environmental FUD are used to explain the trend reversal in May. It's fairly clear that RSI was way overbought for quite a while and the trend had started to flatten out since mid March, it had simply lost buying momentum and investors had 6-8 weeks where they could have basically sold the top and taken decent profits. Up only for 6 months will always trigger some selling pressure eventually.

This is similar to what happened in early November 2021, where again a news event was used to try and explain the trend reversal (potential rate hikes in the US and Feds tempering inflation in 2022). However, it had again been basically up only mode for 4 months after the mini bear market during the middle months of the year and it gave investors a 2nd opportunity to sell at ATHs. Again, even if you didn't sell the high you had a clear sign of a trend reversal the following week that gave an exit opportunity at 65k.

View attachment 1307613
A pure technical analyst will claim that charts tell a story of what's to come irrespective of news. The common explanation is that news acts to push price in the direction and magnitude it was already heading, so BTC would have hit 29k irrespective of Elon's games. We had clear bearish divergences in RSI and volume during the first peak which hit 64k. Those factors, plus the shitcoin pumps had me cautious near enough to the top.

I found the second top harder to recognise initially. Looking back, the volume wasn't inspiring on the way up. I posted TA from others suggesting BTC would hit the high 30's when we were around 58k, so this dump wasn't unforeseen.

As with most things in life, I view TA as being useful without telling the whole story. Having knowledge about economics and fundamentals can give you an edge over pure TA practitioners.

Pentoshi predicted this dump based on the changing economic landscape.

Many of the best chartists I know have shifted towards other areas of crypto like NFT's. It makes me feel like a boomer in this space.
 

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The Dice Man

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FTM (and Tomb, Tshare) enjoying a big pump... Breaking the strong resistance around $3.15. If BTC plays nice at Miami this week FTM may just chase down the top 20 in MC (currently 25).

I moved a large portion into FTM/Tomb back in mid Dec, it's up 160% since then and compounding in tomb. Touch wood but it's so far been my best move in crypto... Opcat was better % wise, but only had spare change in there.
 

BACCS

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Gigantic

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benhawk

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Yes agreed.
I'm starting to sell off a few of my holdings, just because it is becoming too time consuming to monitor so many things.
I'll be selling some for a loss, but i've done very well on the ASX since July, so i can use these losses to offset the gains so it isn't a massive issue.

I'm almost at the point i am thinking of ******* off ADA, that campaigner of a thing needs to go i reckon.
Did you **** Cardano off?

On SM-G781B using BigFooty.com mobile app
 

The Dice Man

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Haha, not yet.
Just give me a massive cock tease atm, trying to suck me back in and put more $ into it.
I'm not falling for it this time, i swear.
I am going to sell it. Soon.
Reckon some FTM money may be moving over to ADA now. Im not buying it though.
 

BACCS

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The last 2 months are the closest the Bollinger Bands have been on the weekly chart for BTC since late 2020; basically, the volatility has been sucked out of the market completely. It's the closest for ETH since February 2020 :eek:. The volatility dropping this low is historically a decent sign of a bottom, but bottoms can last a while too. Heck, even the bottom in July 2021 had a significantly higher volatility than this period.

The BB width for BTC and ETH peaked in February 2021 and has been steadily declining since; it's fairly clear even by just observing volume that this hasn't recovered to the same levels as early 2021.
 

bzparkes

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The last 2 months are the closest the Bollinger Bands have been on the weekly chart for BTC since late 2020; basically, the volatility has been sucked out of the market completely. It's the closest for ETH since February 2020 :eek:. The volatility dropping this low is historically a decent sign of a bottom, but bottoms can last a while too. Heck, even the bottom in July 2021 had a significantly higher volatility than this period.

The BB width for BTC and ETH peaked in February 2021 and has been steadily declining since; it's fairly clear even by just observing volume that this hasn't recovered to the same levels as early 2021.
Retail scared out of the market currently so the institutions are just steadily accumulating before they'll start pumping out a raft of good news again once they've had their fill.
 

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bzparkes

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buy more.gif
 

BACCS

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Retail scared out of the market currently so the institutions are just steadily accumulating before they'll start pumping out a raft of good news again once they've had their fill.
Even during the run up to recent ATHs in November last year, the volume/volatility never got close to the levels seen earlier in the year. It doesn't feel like retail has ever really rejoined BTC and ETH spot buying since crash in May last year, with these largely dominated by the deriviatives market and institutions buying OTC.
 

bzparkes

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Even during the run up to recent ATHs in November last year, the volume/volatility never got close to the levels seen earlier in the year. It doesn't feel like retail has ever really rejoined BTC and ETH spot buying since crash in May last year, with these largely dominated by the deriviatives market and institutions buying OTC.
Good point. Guess we'll just wait on a spot ETF with baited breath. People will start to flood in again if/when one finally gets approved in the USA.
 

The Dice Man

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Even during the run up to recent ATHs in November last year, the volume/volatility never got close to the levels seen earlier in the year. It doesn't feel like retail has ever really rejoined BTC and ETH spot buying since crash in May last year, with these largely dominated by the deriviatives market and institutions buying OTC.
What if retail just isn't interested in BTC (and to an extent ETH) anymore? So many different directions to go in now.
 

ash_1050

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Crypto.com (CRO) Restricts Withdrawals For All Users After Succumbing To Hack

Crypto.com has fallen victim to a hack. The crypto exchange announced this in the early hours of Monday after users complained of suspicious activity on their accounts. It is the first centralized exchange to succumb to a hack for the year 2022 coming out of the year 2021 which was riddled with numerous hacks that saw exchanges and users alike lose billions.

Users of the Crypto.com exchange began experiencing issues with their accounts. Subsequently, these users realized that their accounts had been hacked and they were missing cryptocurrencies from their balances. In some cases, the hacker had made off with all of the funds in the accounts.

Crypto.com took to Twitter to address these issues. In response to reports of the hack, the crypto exchange had promptly announced that it was restricting withdrawals for all users on the platform while assuring the community that all of their funds were safe.

The tweet noted that only a small number of users had been affected by the hack. However, users of the platform rolled out en masse to say that this was not so. The number of complaints regarding funds being lost by users in the hack had grown continuously on social media. Most had had a significant amount of crypto stolen and called for the exchange to do something about the attack.

Following news of the hack, Crypto.com had promptly restricted all withdrawals on its platform. Users were unable to carry out any withdrawals and those with pending withdrawals could not complete their transactions. This was done in an effort to prevent the hacker(s) from being able to perform any more withdrawals from the accounts of the affected users.

The attack is speculated to have occurred after the attackers found a way to bypass the 2FA security measures on the exchange. This has prompted Crypto.com to alert users to reset their 2FA information, as well as having to log back into the platform to regain access to their accounts.

The crypto exchange announced that this update will be rolled out gradually to users. Upon completion, withdrawals will then be enabled and users will be able to send their funds out of the exchange. “We understand this may be an inconvenience, but security comes first,” the exchange said.
 

BACCS

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Crypto.com (CRO) Restricts Withdrawals For All Users After Succumbing To Hack

Crypto.com has fallen victim to a hack. The crypto exchange announced this in the early hours of Monday after users complained of suspicious activity on their accounts. It is the first centralized exchange to succumb to a hack for the year 2022 coming out of the year 2021 which was riddled with numerous hacks that saw exchanges and users alike lose billions.

Users of the Crypto.com exchange began experiencing issues with their accounts. Subsequently, these users realized that their accounts had been hacked and they were missing cryptocurrencies from their balances. In some cases, the hacker had made off with all of the funds in the accounts.

Crypto.com took to Twitter to address these issues. In response to reports of the hack, the crypto exchange had promptly announced that it was restricting withdrawals for all users on the platform while assuring the community that all of their funds were safe.

The tweet noted that only a small number of users had been affected by the hack. However, users of the platform rolled out en masse to say that this was not so. The number of complaints regarding funds being lost by users in the hack had grown continuously on social media. Most had had a significant amount of crypto stolen and called for the exchange to do something about the attack.

Following news of the hack, Crypto.com had promptly restricted all withdrawals on its platform. Users were unable to carry out any withdrawals and those with pending withdrawals could not complete their transactions. This was done in an effort to prevent the hacker(s) from being able to perform any more withdrawals from the accounts of the affected users.

The attack is speculated to have occurred after the attackers found a way to bypass the 2FA security measures on the exchange. This has prompted Crypto.com to alert users to reset their 2FA information, as well as having to log back into the platform to regain access to their accounts.

The crypto exchange announced that this update will be rolled out gradually to users. Upon completion, withdrawals will then be enabled and users will be able to send their funds out of the exchange. “We understand this may be an inconvenience, but security comes first,” the exchange said.
Good timing for the AFL :p. Also haven't used their platform in ages, their fees are very high.
 
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BACCS

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What if retail just isn't interested in BTC (and to an extent ETH) anymore? So many different directions to go in now.
Well they clearly aren't as interested as they used to be, I'm guessing most think they are priced out of them now. They are both dominated by institutions/OG whales these days, whether that is in the deriviatives or OTC spot market. As ted summarised very well above, this market is nothing like previous cycles anymore; I don't think in 2017 that people in crypto cared at all about external macro factors.
 

The Dice Man

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Well they clearly aren't as interested as they used to be, I'm guessing most think they are priced out of them now. They are both dominated by institutions/OG whales these days, whether that is in the deriviatives or OTC spot market. As ted summarised very well above, this market is nothing like previous cycles anymore; I don't think in 2017 that people in crypto cared at all about external macro factors.
Just in the chats I read, no-one ever talks about buying BTC.. It's all NFT's, the next Gaming project, next metaverse, LP farming/APR chasing, next 3 or 4 or 5 or 6X coin that's gonna pump.. And some do, and inevitably fall back down 50% or more.

This could also be a reflection on the projects I follow. BTC pumped 100% in a few months in the second half of 2021. Meanwhile Luna did a 20X, SOL the same(or more) AVAX ect.. FTM was a 14,000% for the year.

BTC is resented by retail, and it's interest only lies in the control it has over the market.
 
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BACCS

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Just in the chats I read, no-one ever talks about buying BTC.. It's all NFT's, the next Gaming project, next metaverse, next 3 or 4 or 5 or 6X coin that's gonna pump.. And some do, and inevitably fall back down 50% or more.

This could also be a reflection on the projects I follow. BTC pumped 100% in a few months in the second half of 2021. Meanwhile Luna did a 20X, SOL the same(or more) AVAX ect.. FTM was a 14,000% for the year.

BTC is resented by retail, and it's interest only lies in the control it has over the market.
Yep, until ETH detaches from BTC and alts from ETH, then the entire market will struggle with poor macro conditions.
 

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