Aztechnology
Member
Graduating from my crate, made my own bench this evening. It's uhh... Well, it will do.
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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
NiiloPielinen
Member
I saw that it has risen from 4$ to around 30$. Why is this happening suddenly? Any major news regarding it?
walking fiend
Member
It is testing new lows lol Talk about being volatile. I pulled out a while ago, and did so too late actually. The hourly averages flipped several hours ago and that is usually not a good sign. I'm in red because of all the ETHs I bought in the past few weeks, but at least by not too much.
Someone said an ICO raised 400K ETHs very recently; I mean even if just those people wanted to cash their ETHs, that would be equivalent to $1.6 billion with Eth @ $400
I'm waiting for the lowest point to buy extra's. Pointless to sell now. You can't even get a transaction through at this moment.
Everything sees red. Bitcoin also down to 2331$ now.
Considering the market cap ETH has not that much to go to reach BTC status.
walking fiend
Member
My transactions went throughM°°nblade;240827655 said:
Well, you need to have a pull out signal when you are trading. I take out partial profits regularly but pull out at 10% loss of my funds. The prices will go back up eventually, but you never know exactly when. Might be a few days, a few weeks, a few months. And if you don't have cash you can't buy back at new lows either.The best case is that when you notice the sell point and sell then, but in case you miss it, you either have to have a stop target or just be so much in green that you wouldn't even care.
lol, yup
I'm one of those people who purchased more ETH at $389 on Monday morning when it was surging to $416. I should've known a significant drop was likely to follow but I flinched and bought.
Now I just need to hold through the storm.
I did too, the important thing is not selling.
walking fiend
Member
That is exactly why I pulled out. Almost any entry point in the past few weeks has been an ATH, and I believe most people who entered the market have only hoped that that ATH will keep on going higher. Add to that literally 100s of random coins with an aggregate market cap pumped to tens of billions of dollars in the matter of the same few weeks, and you have a recipe for crash.
I entered the market as a trading opportunity, where you can leverage highs and lows and so I treated my assets as I would do if I were in any other market.
My friend has made $14k from just holding on, it only seems volatile in the short term, but if you look at crypto growth since 2013 it's hard to argue with the results.
walking fiend
Member
That is true, but things seem a little bit crazy over the past couple of months. As I said some shady things going on, which I weren't aware of until a few days ago. Billions of dollars being moved around into the hands of few people without anything concrete provided in return. Even Elon Must wouldn't be able to raise a $2 billion dollars for such shady projects. And most of those funds are transferred in the form of Bitcoins and Ethers, so if those people want to cash out their basically free money, it will send shockwaves down the whole system. I've been warning people to stay away from all alt-coin in the past few days, and I still think they should.
In the past though, it was mostly Bitcoin just inching its way, and then after that Ether and ripple, but it took them years and months, not weeks, to reach the market cap of $1 billion dollar.
I do believe Ether is a good investment, but for now I cashed 75% of my assets and will come back once it stabilizes again [as I believe I will be able to buy even more Ethers then]
Unknown Soldier
Member
I'm up 80% or something right now and thinking of selling and trying to re-buy at the bottom. I WAS up over 100% just earlier today. Someone hold me.
Glad this Cryptocurrency fad is over ! What are the hot Amiibos atm to buy and sell for good $$$?
Expected things like this and i didn't use any crucial money so i'm going to hold that stuff for a long time.
While most are reasonable with their money i bet some people pump all all their savings/mortage into this for the promise of fast fortune, only to see it burn.
"Honey, the house doesn't belong to us anymore. Or the Car. Oh, and Disneyworld this year is canceled too. This damn Dogecoin is at fault."
Expected things like this and i didn't use any crucial money so i'm going to hold that stuff for a long time.
While most are reasonable with their money i bet some people pump all all their savings/mortage into this for the promise of fast fortune, only to see it burn.
"Honey, the house doesn't belong to us anymore. Or the Car. Oh, and Disneyworld this year is canceled too. This damn Dogecoin is at fault."
Hit 285 on GDAX earlier on very high volume, I have a feeling that was the bottom. Pretty strong bounce, still a chance it could be a bull trap though I guess.
where do you think this money is coming from?
once the influx of new money stops, and it will eventually, the market will crash.
the market, as it is now, isnt sustainable. the last 2 days have shown how nervous it is atm.
im sure there are people betting the house because they think, they will be millionairs in two months. but they might be broke instead.
maybe HODL ist something, the big market manipulators have invented, because it makes them a lot of money when they pump and dump and the little investors hold
there is money to be made, no doubt, but getting the timing right, could prove difficult. a lot of new investors bought on rates inflated by the hype of the last 2 months. the sittuation is not the same as to someone investing a bit in 2013 and waiting 3 years.
walking fiend
Member
Yeah, what people need to realize is that although everyone can be a millionaire in the hindsight, there can only be so many of them in fact. You can hold ad infinitum, but eventually everyone will leave the market: for every person who makes $1 million, there are 10,000 others who lose 100,, and possible some who lose $10,000s and leave the market. If you just leave it to chance and hold, you can end up being any of them. If there are even a few people who invested in large amount in Ether when it was cheap decide to cash out, the market can easily crash while they make profit.where do you think this money is coming from?
once the influx of new money stops, and it will eventually, the market will crash.
the market, as it is now, isnt sustainable. the last 2 days have shown how nervous it is atm.
im sure there are people betting the house because they think, they will be millionairs in two months. but they might be broke instead.
maybe HODL ist something, the big market manipulators have invented, because it makes them a lot of money when they pump and dump and the little investors hold
there is money to be made, no doubt, but getting the timing right, could prove difficult. a lot of new investors bought on rates inflated by the hype of the last 2 months. the sittuation is not the same as to someone investing a bit in 2013 and waiting 3 years.
Have stops to cash out, whether it is to take profit or prevent loss. It is always better to make 50% of the profit you could make, instead of none of it. A simple flat scaled sell can gain you 50% of the maximum profit you could at your target level and you'll have some cash to play with.
A general rule, which I follow, in investment and in life in general, is that if something is not going as I expect it to go, I become cautious. The market is not behaving as I expected it would [the hourly averages have flipped], so I have reduced my risks at the first signal.
walking fiend
Member
I doubt it will stop as long as we have ICOs worth of billions. Tezos ICO is happening this month and it is expected to reach at least several hundred million Dollars.
The other day IOTA became available on Bitfinex with a market cap of 1.5 billion, while it's initial ICO was only for 500 bitcoins or so; essentially nothing. Where is that added ~1.5 billion dollars coming from?
I'm just gonna relax for a while, watching the market real-time wears you down lol
Golden_Pigeon
Banned
Best time to buy =) im in for the long run anyway
walking fiend
Member
Still not the time yet. Moving averages still flipped over.
I feel bad for encouraging anyone to buy I did once it dipped a little the other day...
CaptainZombie
Member
It's looking like $250-270 might be around the corner.
Yeah - I told some people back in January when I was buying it for 10$ - at the promise of $100 by end of year.
Couple weeks ago when it passed 200 they got interested again, I told them it could all come crashing down at anytime. Took them a while to get verified, and they bought in last week ~240-260. They were quite happy when it was hitting 400
I told them this was a real possibility, but still feel bad for initially telling them about it. Me - I'm holding.
My transactions went through
The best case is that when you notice the sell point and sell then, but in case you miss it, you either have to have a stop target or just be so much in green that you wouldn't even care.
I didn't have an automated pull out signal/order, and neither do I have an automated buy signal/order.
What do you propose when you're too late and missed the sell signal/order? Sell late anyway or don't move during the shaving.
I do the latter because, if I missed the moment to sell everything. I'll probably miss the moment to buy as well.
By just buying and holding, I miss the opportunities to sell but at least I can't make any errors there and I save trading fees. I just keep adding more cash to buy at new lows.
I don't feel that uncomfortable by not selling anyway. I don't know if that is strange. It's probably because the difference between 300% and 400% of profits is acceptable for me.
Lilalaunebaer
Member
Personally, anything more than 1000 for bitcoin and more than 150 for ethereum is too much.
walking fiend
Member
If I miss one for whatever reason, I have stop orders which prevent me from losing too much; that is also why I have been recommending bitfinex; it is easy to setup such orders there. My strategy is to capitalize on the swings; if I miss one swing, it is okay, I'll just use the next one. This way I may not earn as much as I would had I tested my chances, but I won't lose too much either.M°°nblade;240844074 said:I didn't have an automated pull out signal/order, and neither do I have an automated buy signal/order.
What do you propose when you're too late and missed the sell signal/order? Sell late anyway or don't move during the shaving.
I do the latter because, if I missed the moment to sell everything. I'll probably miss the moment to buy as well.
By just buying and holding, I miss the opportunities to sell but at least I can't make any errors there and I save trading fees. I just keep adding more cash to buy at new lows.
I don't feel that uncomfortable by not selling anyway. I don't know if that is strange. It's probably because the difference between 300% and 400% of profits is acceptable for me.
Say the price to buy at is 375, but I find out about it when it is 385. I put an order-cancels-order: I set a limit order at $500 [or whatever I expect is a reasonable point to make profit at], and a stop order at 375. In case I miss the sell point and the prices start to drop after that, even if they drop below my entry point, I'll lose only 10/385 = ~2.6% of my money. As long as each time you put an order you make more than 2.6%, you'll start making money, even if only 1 out of 2 of your trades are profitable. You just need to accept that you won't be making money each time that you do a trade, and that if you can't properly adjust your entry points, you will lose money and you should not be doing trading [not with your current knowledge or in the market you are in, at least]. An alternative is to put a trailing-stop order, where the stop price is tracked at your specified amount (say $10) behind the all-time-high market after your entry point [however because of the spikes it might be difficult to utilize trailing-stop orders].
I have absolutely no idea how much is the worth of these coins; I'll just trust the charts, and they are telling me the prices are diving and there is no sign when it will stop.
Lilalaunebaer
Member
I mean, me neither. Basically, i go by the history when every time bitcoin reached a new all time high, that´s like 1000% or more from the previous low. And it always took a nosedive. Every time to a new low, that was higher than the previous high.
We´ll see.
Two weeks ago?
It hasn't been above $300 for very long. Did anyone not expect it to fall?
Exactly. What the heck are people talking about? Why we acting like a sudden fall is a surprise? This shit nearly doubled in value in a week. How long have you guys been following?
walking fiend
Member
For every 30 persons who bought Eth at $300, there is one person who bought Eth at $10 and paid as much as those 30 persons and holds as much Eth as those 30 persons, and will still make a 30x profit even if s/he sells at $300. This is the order book from Bitfinex, so many people willing to sell at $300 range.
In fact, more than half the Eth is controlled by people who are willing to sell at 300-400 range:
