Cryptocurrency mega-thread

[The Dice Man]

So i bought in when everything was basically at ATHs, just before the big crash. I guess everyone has to start somewhere
I haven't sold a single coin yet and topped up a couple at slightly lower prices. I own only altcoins (matic, ada, dot, luna, doge, nano, one, shib) and don't really have enough capital to go at Btc or Eth so the plan is to just hold them indefinitely until they either die or make a profit.
Didn't know anything about investing when i bought just grabbed some that i thought could make me a quick buck!
Guess I'll be holding for a long time yet before that happens but just wanted to share my story.
Not sure if i am keen to buy more of what i own now at bottomed out prices to even out my buy averages a bit?

I bought end of May and Im down around 30-35%. You must be down more than 50%+?

I've gotten stuck in some minor ALTS and NFTs after day trading before the weekend.. They just crashed and now Im kinda stuck with them until they(I hope) recover.

 

[DT_35]

 

[Nothing]

 

[LennyHayes77]

I bought end of May and Im down around 30-35%. You must be down more than 50%+?

I've gotten stuck in some minor ALTS and NFTs after day trading before the weekend.. They just crashed and now Im kinda stuck with them until they(I hope) recover.

Yeah, whole portfolio is down about 44%. I don't really mind, i never invested an amount i couldn't afford to lose straight away so if it ever comes back its just bonus money to me at this point.
But now I'm just getting that urge to buy in low and see how it goes this time.
From what I've been reading in this thread it seems like we'll be trading around these levels for a while longer but no one really knows.
I'll probably end up putting another smallish amount in that won't hurt me financially if it goes on another crash! It's all really just a bit of fun for me, first time investing so happy to just let it all ride out over the next few years regardless

 

[LennyHayes77]

Make that -52% down now! Hadn't checked in a few days. My Luna coins almost got back up too even the other week and ADA and Matic have both gotten close at points but I'm not selling anything until I can take out my initial investment and then play with whatever is left.

 

[ash_1050]

There's pain ahead yet, still no signs of rebounding (which I'd put at three consecutive weeks of 5%+ growth or two consecutive weeks of 7.5% growth but that's a personal preference).
In real terms BTC is down 54.3% from it's ATH, which means it's probably got another 5-15% left to fall before I'd start trying to worry about the bottom.
Remember BTC dropped 80% after it's 2017 bull run ATH.
My entry price point as mentioned a couple months ago is still around $20k and it's getting closer by the week.

 

[owen87]

Make that -52% down now! Hadn't checked in a few days. My Luna coins almost got back up too even the other week and ADA and Matic have both gotten close at points but I'm not selling anything until I can take out my initial investment and then play with whatever is left.

Good attitude IMO, if it's money you don't need, then might as well let it sit there and hold what you've already bought. Like most investments, patience is massive.

 

[Shupe]

From what I've been reading in this thread it seems like we'll be trading around these levels for a while longer but no one really knows.

The bolded is the key takeaway.

Anyone can make a chart say what they want it to say.

Anyone can use indicators to support a certain theory.

However at the end of the day, crypto is gonna crypto.

Focus on fundamentals, projects with real use case and which can earn you passive rewards. Then it doesn't really matter what happens in the market.

 

[md20]

Focus on fundamentals, projects with real use case and which can earn you passive rewards. Then it doesn't really matter what happens in the market.

When you say passive rewards, are you talking about staking?

 

[BACCS]

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.

 

[BACCS]

Oh it will bounce, and crypto is a highly levered market so expect it to bounce hard.

The key as to whether or not it's sustainable is whether it's bouncing on high or low volume.

Volume still doesn’t look great. Heck, even the volume to dip it below 30k yesterday wasn’t massive.

 

[BACCS]

When you say passive rewards, are you talking about staking?

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.

 

[The Dice Man]

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.

Was tempted but stayed well out of it.

 

[BACCS]

Anyone on here use Heikin Ashi candles over the standard ones? Upon doing a bit of research, they’re better at filtering out noise and give a better idea of the presiding trend at the time.

 

[BACCS]

Was tempted but stayed well out of it.

I had to hold my fingers back haha. I thought a bounce was fairly probable today though because of how low the volume was to dip it below 30k.

 

[The Dice Man]

I had to hold my fingers back haha. I thought a bounce was fairly probable today though because of how low the volume was to dip it below 30k.

I figured there will be further, larger dips coming and will wait for them.

 

[BACCS]

I figured there will be further, larger dips coming and will wait for them.

I honestly doubt it at this stage. The whales trying to push to 28k can’t break through strong resistance between 29-34k, there’s only so many times they can try. If 28k broke though then there is very little support to 24k.

 

[The Dice Man]

I honestly doubt it at this stage. The whales trying to push to 28k can’t break through strong resistance between 29-34k, there’s only so many times they can try. If 28k broke though then there is very little support to 24k.

People were saying the same last week about 32k. I'm happy to wait and see.

 

[md20]

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.

Its a space I really need to look into a lot more.
Looking at Crypto.com. You can earn 12-14% on stablecoins. Stablecoins basically just track the dollar right?
Whats the risk of putting your savings into a stablecoin on one of these platforms instead of into a bank that pays 1% annually?

 

[BACCS]

Its a space I really need to look into a lot more.
Looking at Crypto.com. You can earn 12-14% on stablecoins. Stablecoins basically just track the dollar right?
Whats the risk of putting your savings into a stablecoin on one of these platforms instead of into a bank that pays 1% annually?

That’s correct. I guess the risk is that the insurance for exchanges isn’t as strong as banks that are backed by Governments; however, the security these days on exchanges is high and they also have levels of insurance now. If you wanted the extra layer of security, it is possible to earn interest on personal wallet crypto savings as well.

 

[BACCS]

Buying volume strongest in over a week

 

[md20]

That’s correct. I guess the risk is that the insurance for exchanges isn’t as strong as banks that are backed by Governments; however, the security these days on exchanges is high and they also have levels of insurance now. If you wanted the extra layer of security, it is possible to earn interest on personal wallet crypto savings as well.

As in a hardware wallet like Trezor/Ledger etc?

 

[BACCS]

As in a hardware wallet like Trezor/Ledger etc?

Given you reference Crypto.com, they also have a personal wallet app now too which you control with your own key and can earn interest.

 

[Bostonian]

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.

On several coins.

 

[BACCS]

On several coins.

I regret not getting MATIC the most, the RSI was so so low when it hit 60 cents. Now up 30% since then. What did you scoop up?