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Cryptocurrency mega-thread

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maryjames said:
Lol I watched the tweet live and saw it crash straight away. Elon tweet moved the market downwards as it did upwards few months back when he said he using bitcoin as a payment for his sh*t cars.
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The only thing that moved the market was all the weak minded people who are involved in crypto selling for no reason at all.
 

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The Dice Man said:
Excuse my ignorance, this indicates it's gonna drop a lot more right? Maybe even lower than May 19th?
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It's one possible scenario giving a bottom in the high 20's for BTC. Nobody knows for sure what will happen. Technical analysis is guesswork based on probabilities.

My best guess for now is we retest the low 38k region before more downside.
 
Ghost Patrol said:
Dunno man, it was already going down when he tweeted, dropped about 2% in the 15 minutes after his tweet.

Not enough people buying, regardless of tweet. If people were buying, volume would probably raise above 3% and price would bounce back.

There's a lot more going on than that mundane tweet, regardless of how well timed it was.

Easy target to blame though.
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Absolutely, volume has been super low the last week, even when the price was starting to go back up. Until there is decent volume, there will be no stability at the main resistance points (37.5k, 40k, 42k etc). The price isn't starting to crash again now because of Elon's Tweet, there is just no stability at all.
 
What are people on here buying crypto for? Long term or buy low, sell high and get back in when low again? Or bit of both?

I haven't touched it yet but been keeping an eye on it the last few weeks. Obviously a bit of a crash the last few months has spruiked interest. It seems to be swinging up and down around the same margins lately.

Thinking of waiting for it to go a bit lower than it is now and then cashing out when a bit higher and then waiting for another dip. Take Bitcoin (or ethereum etc) for example, maybe wait for it to go below $43kA and get out around $50k-$55k and repeat if and when it comes again. Do that a few times and make a bit (enough to cover the initial deposit or there abouts) and then leave the initial deposit amount for long term.

I do a bit of investing in shares and like the fact I can reinvest and grow it both through dividends and share price so this is a bit different. Obviously long haul is where you'll make your money but a bit of a win a couple of times a year might be nice if played right.

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FRUMPY said:
Or bit of both?
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This one.

I’ve only got so much in there as I can afford to lose, so I play around with the shitcoins looking for a win to satisfy those FOMO urges, but ultimately it’s about trading back in to BTC for the long-term hold, plus leaving a small holding of alt coins in case they explode. ETH is the only other one I would confidently hold a large amount of cash in long term.
 
owen87 said:
This one.

I’ve only got so much in there as I can afford to lose, so I play around with the shitcoins looking for a win to satisfy those FOMO urges, but ultimately it’s about trading back in to BTC for the long-term hold, plus leaving a small holding of alt coins in case they explode. ETH is the only other one I would confidently hold a large amount of cash in long term.
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Yeah sounds like something I'd look at. Play with what I can afford to lose and try and win that back in the short term investments and ultimately try and get enough to leave a small long term investment that may be able to add onto over time.

With my shares I can not look at it for weeks at a time. I'm guessing this one you keep a bit more of an eye on as it's quite volatile and know your margins and act accordingly?
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FRUMPY said:
Yeah sounds like something I'd look at. Play with what I can afford to lose and try and win that back in the short term investments and ultimately try and get enough to leave a small long term investment that may be able to add onto over time.

With my shares I can not look at it for weeks at a time. I'm guessing this one you keep a bit more of an eye on as it's quite volatile and know your margins and act accordingly?
Sent from my CPH2005 using Tapatalk
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Half the fun of crypto is playing the alt coin hype game, following some random social media vibe post and seeing if the coin explodes (or fails). But that’s all reliant on it being money you can live without anyway.

If you want set and forget, buy mainly BTC and ETH and just don’t look at it.

You can set stop-loss or limit orders in most of the exchanges as well.
 

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ash_1050 said:
Officially out of crypto as of this morning, sold off my last 0.5 BTC (current price $59,076.92) to put it into another investment opportunity.

Suspect after 7-8 years in the crypto space (and some reasonable profits) that I'll be unlikely to invest again unless there is more de-risking moving forward to address key hurdles that crypto has yet to overcome (regulation, adoption, environmental impact). Blockchain has huge potential, but the best money has been made in terms of ROI and I suspect the golden age of profits are largely behind for BTC/ETH/XRP.

The alternate purchase shares in Race Oncology (RAC) on the ASX @ $3.94 which I reckon has less risk and more upside over a 12 month time window. Happy to revisit this post in 12 months time on 18th March 2022 and see how correct/incorrect I was in this prediction.
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Good timing.
 
The Dice Man said:
Good timing.
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Very happy with the timing, within 10% of the absolute top. Most likely luck, but I'd like to chalk a bit of it up to the experience of having lived through the 2017 bubble and seeing the market do exactly the same thing again this year.
 
ash_1050 said:
Very happy with the timing, within 10% of the absolute top. Most likely luck, but I'd like to chalk a bit of it up to the experience of having lived through the 2017 bubble and seeing the market do exactly the same thing again this year.
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Have you bought back in this dip?
 

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