Cryptocurrency |OT| Nothing from Money

At this point I just have to hold my ETH until it hopefully returns to where it was, even if that takes years. If I sold now I would be losing a lot of money :-/. I'll try to buy closer to the bottom to bring my average cost down but I don't really want to tie up much more money into this. Should have sold a couple weeks ago
 
Aquavelvaman said:
At this point I just have to hold my ETH until it hopefully returns to where it was, even if that takes years. If I sold now I would be losing a lot of money :-/. I'll try to buy closer to the bottom to bring my average cost down but I don't really want to tie up much more money into this. Should have sold a couple weeks ago
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Don't buy unless the uptrend is clear, otherwise, you'll just lose more money. Think about it like this: if the market is going to go up, then you shouldn't be worried anyway, but if the market is not going to go up, the chances of you entering right when it is as its lowest is not much. Though, I'd probably advise you to just sell now at whatever loss you have incurred. If the market starts recovering, you can always enter again. Preventing any further loss is a gain

I am sorry that you had to lose money, but hopefully, it will come back up

edit: i remember reading a wallstreet strategist predicting a low of $1800 for BTC (not really remember what was his method for coming to this number, but it is a volume support too), followed by a high of >$3000; $1800 might be a good level to watch for.
 
Chumley said:
Deadcat bounce is over, goodbye $200 support level.
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Chumley, from here, what is the next support level? I think it was around $204 before and correct me if I'm wrong, but was it around the $60 mark?

If more ICOs are cashing out later this week like Brandson said, we could be in the low 100's for the weekend.
 
CaptainZombie said:
Chumley, from here, what is the next support level? I think it was around $204 before and correct me if I'm wrong, but was it around the $60 mark?

If more ICOs are cashing out later this week like Brandson said, we could be in the low 100's for the weekend.
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It's still hovering right around $200 but every time it dips below $200, that makes the likelihood of it breaking down past the $185-ish low point of the day far greater. It's dipped below $200 twice now. We'll probably be testing around $185 in 24 hours if the trend continues.

And yeah, that word about the ICO's is just more bad news for ether.

If an uptrend comes it'll be apparent. In theory, the further down it goes the longer the support level should last, but it's only been dropping faster the further down its gone. The movements are as extreme if not more so than it was on its way up.
 
Going to add a bit of siacoin for cheap.
Maybe add some ANS too.

Reading Bitcointalk for various coins atm is entertaining.
 
walking fiend said:
Stop giving all these scams your money!

NO ICO has deserved even $100K so far. They have offered 'nothing' in return

This is from the LinkedIn of the founder of that tierion coin:


Essentially, this guys specialization is mass marketing. Now you want to trust him with your money?
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OK, this is a good opportunity for me to learn, because I don't see what is wrong with that.
My reasonings are:
He has founded a business that later changed it's business model to something else and it is still up and running -> he knows how to run a business. He has people with him who seem to have proper technical qualifications. Currently they are working with Microsoft.

What is it that I do not see?
 
Donos said:
Going to add a bit of siacoin for cheap.
Maybe add some ANS too.

Reading Bitcointalk for various coins atm is entertaining.
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Let me guess. "Why is "coin" going down?", "This is just weak hands cashing out", "Yes, give me those cheap coins" and the always classic "HODL".

When you see those all over the place it is absolutely not the time to buy lol. Been there before. Expect a long down trend
 
Think i have decided to buy some siacoins but as a Total newbie to this stuff... What's the best way (place?) to buy and what is the best way to store the coins?

I have seen some use an exchange and others are talking about wallets..

Since i'm planning long term a wallet is better??
 
Chumley said:
Panic. Even ethtrader sub is panicking right now.
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Will we see double-digit ETH though? I'm not sure yet. If we see it today I think we bounce to $200 quickly. If we see it first next week then I think we stay in it longer. Watching what happens near $150 will be key, if we get that low.
 
Simpsons for everything:
giphy.gif
 
Well my guess is ETH will probably either go sideways or up to low 200s for today. Another huge decline today just doesn't seem likely, usually the market cools down a bit after moves like this. I'd guess the dumping will resume closer to the weekend.
 
Brandson said:
Will we see double-digit ETH though? I'm not sure yet. If we see it today I think we bounce to $200 quickly. If we see it first next week then I think we stay in it longer. Watching what happens near $150 will be key, if we get that low.
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Within two weeks I think we see double digits. Maybe even sooner.
 
I do believe some of these cryptos will be big in the future, maybe it is years down the line and it's hard to know which coins will survive. I plan on loading up on some more SC soon and if ETH hits low 100's and/or double digits I'll be loading up on more of that as well
 
Welp, that's it, i'm out. Got my initial investment back and won't bother to get back anytime soon, as i won't be @home for a whole month. Was a fun ride still. Couldve won something, couldve lost something. Actually made 99cents (lol). I will enjoy my Holidays now and it will be fun when i come back. Wish you all a fun ride guys.
 
Hisoka said:
Welp, that's it, i'm out. Got my initial investment back and won't bother to get back anytime soon, as i won't be @home for a whole month. Was a fun ride still. Couldve won something, couldve lost something. Actually made 99cents (lol). I will enjoy my Holidays now and it will be fun when i come back. Wish you all a fun ride guys.
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XQS1N1K.gif
 
Donos said:
ANS didn't seems as heavily affected as some other altcoins. Still my biggest egg in my basket.
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It is looking increasingly like holding some ANS might be worthwhile right now. My attention, though not my money, is firmly on ETH for the time being though.
 
Donos said:
ANS didn't seems as heavily affected as some other altcoins. Still my biggest egg in my basket.
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Brandson said:
It is looking increasingly like holding some ANS might be worthwhile right now. My attention, though not my money, is firmly on ETH for the time being though.
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Compared to the crash from a few weeks ago, ANS had dropped down to $4.50. I was able to get some at around that price. Considering that this is worse than a few weeks ago with the overall market, ANS has been holding tight between $5.80-$7 which is not bad. I picked up some more yesterday and I plan to get more today. I'm loading up on ANS, I hope that when it does change over to NEO that it does help the coin get more recognition and on to more of the exchanges. The dev team, while small, seems to have a pretty solid plan in place. This is a Chinese coin, which the Chinese always back their products/properties 100%.

I think that this coin could drop further come today which if it does go in the $4 range would be a great pickup for long term holding.

Eth still feels like it is at a scary place for me bouncing between $195-$215. I don't think it is done falling in price since it can't get that stable support.
 
Grew my fiat stack by 2.6% this morning from ETH. All out of ETH again waiting for the next buy direction. I would have been up a healthy amount of ETH had I chosen to hold instead, but I think we're going down more.
 
Brandson said:
Grew my fiat stack by 2.6% this morning from ETH. All out of ETH again waiting for the next buy direction. I would have been up a healthy amount of ETH had I chosen to hold instead, but I think we're going down more.
Click to expand...

Congrats!!!!!! You can make some real good money trading like this especially since you know what you are doing with day trades. Good luck!

I just added some more ANS. I was tempted to take what I cashed out of Eth and dumping it on ANS, but feel its too risky.
 
Prologue said:
Will it ever recover?
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I'm quite sure that it will. As I posted a lot earlier in this thread when we were riding high, I think it will reach $1000+, but it might go to $1 first. While what has happened so far has not been that extreme, the prediction got the general idea right.

When ETH was rising at an incredible speed, the sentiment was that that would go on forever, which is not possible. The same is also true when the price is dropping like it is now. It will change direction at some point. I don't think we're there yet, but we're getting closer. I can't tell whether it will flip direction very quickly, or take some time to gather momentum again, but it will go up again. Ethereum has too much working in its favour to permanently collapse.

My time frame for reaching $1000 is still around 2 years away at least. Compared to a traditional investment, that would be an incredible return on investment.

I am not recommending that anyone buy it right this second though. I am currently waiting to buy myself.
 
Brandson said:
I'm quite sure that it will. As I posted a lot earlier in this thread when we were riding high, I think it will reach $1000+, but it might go to $1 first. While what has happened so far has not been that extreme, the prediction got the general idea right.

When ETH was rising at an incredible speed, the sentiment was that that would go on forever, which is not possible. The same is also true when the price is dropping like it is now. It will change direction at some point. I don't think we're there yet, but we're getting closer. I can't tell whether it will flip direction very quickly, or take some time to gather momentum again, but it will go up again. Ethereum has too much working in its favour to permanently collapse.

My time frame for reaching $1000 is still around 2 years away at least. Compared to a traditional investment, that would be an incredible return on investment.

I am not recommending that anyone buy it right this second though. I am currently waiting to buy myself.
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Based on your charts, where do you see the low possibly going? Right now, it has dropped to around $185. Do you think we see the low to mid 100's again?
 
CaptainZombie said:
Based on your charts, where do you see the low possibly going? Right now, it has dropped to around $185. Do you think we see the low to mid 100's again?
Click to expand...

If I could predict that accurately, someone would probably be paying me to trade crypto. :) What I've been doing is just evaluating and re-evaluating multiple times per day, particularly after big movements. Right now I see it probably recovering slightly, then continuing to drop. I won't know how far it will drop until it happens, but I'm ready to act on what I see.
 
God damn I just hope ethereum can at least get to $500 within a year or so. Just gonna hold I guess and keep mining to offset losses. Might be smarter to switch to nice hash again and hold btc as well.
 
Brandson said:
If I could predict that accurately, someone would probably be paying me to trade crypto. :) What I've been doing is just evaluating and re-evaluating multiple times per day, particularly after big movements. Right now I see it probably recovering slightly, then continuing to drop. I won't know how far it will drop until it happens, but I'm ready to act on what I see.
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Hahahhaa, hell you'd be a millionaire for sure if you could. It seems to be hitting certain resistance points, hovers there for several hours and then starts dropping again.
 
Ready for ETH to start diving if it doesn't recover soon. Daily momentum is reversed now. People will possibly panic to recover their assets across all cryptos. Right now might be the high to sell at.

Wish I had margin sold a week ago:

walking fiend said:
Eth nearing a decision point. Its momentum has stalled, It'll possible break, down or up:

FuYat7k.png
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Had to sell all my ETH just now. I made some money, but with the way things are going we were quickly approaching my buy in price.

I think it eventually bounces back but silly for me not to give myself option to buy back in at lower prices.
 
Future PhaZe said:
Had to sell all my ETH just now. I made some money, but with the way things are going we were quickly approaching my buy in price.

I think it eventually bounces back but silly for me not to give myself option to buy back in at lower prices.
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It might recover soon for a bit at least, but it is not worth risking it, as if it dives when it is also equally to rise, the rate at which it'll drop will is probably much faster than the rate at which it will recover

edit: my grammar sux, sorry
 
walking fiend said:
It might recover soon for a bit at least, but it is not worth risking it, as if it dives when it is also equally to rise, the rate at which it'll drop will is probably much faster than the rate at which it will recover

edit: my grammar sux, sorry
Click to expand...

It won't rise as quickly as it could drop. If I see a strong upward trend I can take a minor loss and get back in, but it's more likely things will continue to plummet
 
Looking at the buy orders on GDAX from 150-159, 160-169, and 170-179, I have a few thoughts:

1) it might take a while to break through each of those ranges, if at all;
2) any of 175, 165, or 155 might end up being the bottom;
3) there are a lot of buyers out there for ETH, if it keeps dropping; and
4) I don't think we will be flying through 170, 160, or 150 like we did 210, 200, and 190.

I know walls are pulled down all the time, but those are some big numbers.
 
Brandson said:
Unconvinced by this bump. My bear market bot-in-training says to sell now for what it's worth.
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You mentioned earlier you were building your own trading bot, as in a program that runs on your machine that accesses some exchange getting info and making a decision to buy or sell and actually executes those?
 
ICO party is rolling, just saw Skincoin featured prominently on top on coinmarketcap
Universal Cryptocurrency based on Ethereum
for instant trading of CS:GO, Dota 2 skins, and making bets on eSports events
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Ethtrader is *not so hot* about it but they are probably still going to make bank.

When do we make GafCoin ICO? Acronym [NFM] (nothing from money)
 
Donos said:
ICO party is rolling, just saw Skincoin featured prominently on top on coinmarketcap


Ethtrader is *not so hot* about it but they are probably still going to make bank.

When do we make GafCoin ICO? Acronym [NFM] (nothing from money)
Click to expand...

Please let me know once it gets added to an exchange. Could be a good pump n dump
 
Nice little pump on ETH overnight. My current thoughts:

1) we are extremely coupled to Bitcoin's price movements, and Bitcoin recovered around +$100, so ETH did a mostly equivalent movement;
2) the volume on the recovery was ok, but not totally convincing;
3) we are still trending down;
4) we might see sideways movement heading into the weekend; and
5) Tezos suddenly selling their pile could change all of the above.

Based on the above, I'm not buying back in yet.
 
The time to catch the low will be shortly after the tezos sell off. I anticipate after the fallout from that the upward trend will begin at a slower pace.

But the question is just how bad the movement will be from tezos
 
NiiloPielinen said:
You mentioned earlier you were building your own trading bot, as in a program that runs on your machine that accesses some exchange getting info and making a decision to buy or sell and actually executes those?
Click to expand...

Currently I'm building an algorithm determined specifically for ETH. At the moment I am still refining the rules, and haven't actually coded anything yet. Testing of my initial tuning showed that it was too conservative, so I made it a bit more aggressive. As a tougher test, I then tried following what it said to do yesterday, by using GDAX market data as the input (visually for now), and made some money on two buy/sell trade pairs (one pair sequence did much better than the other, but both were profitable). They both could have been even more profitable had I held longer, but I would have had to ignore what the algorithm said to do, which is also designed to minimize any losses, and it was quite successful at that.

Ideally I would like to expand it to take more data into consideration, but I would need to figure out how to plug into a crypto market data API. I haven't looked into that yet.
 
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