No way to predict with ETH. It's way too volatile.
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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
No way to predict with ETH. It's way too volatile.
NiiloPielinen
Member
Bought some BTC on Coinbase, moved it to Bittrex, got some golem, ans and with remainder I got some Sia. Now to wait for 5-10 years.
As to ethereum, I think people start selling as it hits 300 USD and then it goes down again.
No idea how to spot when it is in its current peak and is best time to sell or when it is low to buy back again.
Day trading with low amounts seems to cause any possible profit to vanish into fees. I've been trying to figure out what the fees are in coinbase. Simply buying from EUR wallet has a fixed 2,99 EUR fee. ETH is currently 253,48 EUR, if I were to sell 1 ETH it says I would get 251.84 from it and fees are 3,75 leaving a total of 248,09.
As to ethereum, I think people start selling as it hits 300 USD and then it goes down again.
No idea how to spot when it is in its current peak and is best time to sell or when it is low to buy back again.
Day trading with low amounts seems to cause any possible profit to vanish into fees. I've been trying to figure out what the fees are in coinbase. Simply buying from EUR wallet has a fixed 2,99 EUR fee. ETH is currently 253,48 EUR, if I were to sell 1 ETH it says I would get 251.84 from it and fees are 3,75 leaving a total of 248,09.
Trading on Coinbase is pretty much impossible due to the fees. Unless you are just buying/selilng after large price movements.
On GDAX, their exchange platform, the fees are lower. 0.3%, and there is no fee at all if you set a limit order.
CaptainZombie
Member
BTC just dropped to $2K range on coinmarketcap, that is odd.
Lilalaunebaer
Member
Lol, came to post the same thing.
That almost 20% drop from this morning.
Edit: Apparently for some reason coinmarketcap got a ~500$ price from bitfish. Weird thing, that exchange doesn´t do BTC-USD. Just a glitch, other exchanges are still in the 2500$ range.
CaptainZombie
Member
LOL! I just read that about this bitfish too, how hilarious.
CaptainZombie
Member
The issue we have right now in the last 2 months is that everyone and their mother is jumping in thinking that they are going to get rich overnight, so that is causing some of this mess.
I hope that it could at least get back in the low 300's, then I'll sell and wait it out myself until we dip back in the 200's or lower. I don't think that we are far off for 100's again.
Lilalaunebaer
Member
The best you can probably do if you invested recently during the current hype cycle is to make backups, stash it away and forget about it until you hear about bitcoin in the news again when it hits a new all time high in 2-3 years. But that´s just me.
CaptainZombie
Member
I was interested in this too, but haven't done full research yet.
I've been trying to add more ANS and Stratis over this past week. I wish I would have jumped on the $4.50 ANS, but I couldn't withdrawal funds fast enough. I'm currently holding ETH, ANS, and STR. I do hope that one of these does well for me. The Stratis project is intriguing, but there doesn't seem to be much talk going on.
NiiloPielinen
Member
As August 1st comes closer, what is going to happen with BTC? If there is hard fork, is it going to crash? Are others, ETH, LTC, etc going to rise?
Those people shouldn't wait too long to realize those gains if they want to stay happy.
My current read is that the price of BTC, and others, is depressed already to factor in Aug 1 events. Once August hits I think all crypto is going to actually go up once people see everything is more or less ok.
CaptainZombie
Member
So glad I bought some ANS last week when it was around $5. Waiting for some BTC to clear to get some more. Almost was tempted to sell my Strat to get more ANS.
I'm setting up a bittrex account right now to drop some into ANS, better late than never I guess.
I think EOS has a lot of potential, but they haven't made anything yet and will be issuing and selling EOS tokens directly for months. I can't see any way that EOS tokens will be able to retain their initial value for very long. Even if they don't drop in value, by the end of the EOS token sale, there will be so many EOS tokens out there, at such a high market cap, that any further increase in price would be either impossible or very short lived. At this time, my understanding is that the purpose of the EOS tokens is also not yet decided. And now they are sitting on enough ETH reserves to cause havok in all crypto. I don't think the EOS people are running a scam, but they are definitely capitalizing to the maximum degree on the current irrational exuberance for any ICO that talks about supporting distributed apps and smart contracts. By virtue of them setting up the ICO the way they did, they are at risk of destabilizing the entire cryptocurrency market. EOS might be worth buying once the token sale is over, in 2018, but only if its price crashes after any pumping.
What I've learned so far following crypto, is that anyone can copy ideas from anyone else, (although it can't go on like that forever without lawyers getting involved). So ultimately what it comes down to is whether you believe in the developers working on a given project. Ethereum has so far shown themselves to have a good group of developers working on it with growing external support. Ethereum could end up implementing anything good from EOS, and vice-versa. I think the market is ultimately going to shake down to one, maybe 2, publicly tradeable chains, and several private ones run by large institutions. Based on where they are already, I think Ethereum is going to be the publicly tradeable chain.
As for Monaco, firstly, I don't personally see the need for a separate crypto payment card. Once crypto is sufficiently mainstream, the big players in payments will support it. If crypto never reaches those heights, then none of this matters anyway. Secondly, you have to always ask yourself what is the purpose of issuing yet another token. Why does a payment card need its own tokens if you're spending Bitcoin or Ethereum? I don't think that it does. If Visa ever lets you fund a card with Ethereum, do you think they will introduce a Visa Token to make that happen? I don't. So I don't think holding Monaco or TenX tokens make sense long term. Short term, there could be sudden unexplained increases, but those tokens ultimately just don't need to exist save for providing easy, unregulated, early funding to those companies.
walking fiend
Member
Eth nearing a decision point. Its momentum has stalled, It'll possible break, down or up:
NiiloPielinen
Member
Sold my ltc yesterday at 45 eur, went to sleep and woke up to find that it went over 50eur at night and now is at 46,70 eur.
Any tips how to find out when something has achieved its peak?
Any tips how to find out when something has achieved its peak?
BlackRainbowFT
Member
Any of you guys participated in Rialto:AI 's ICO ? I personally like their attitude (I had the chance to talk to Vito... very down-to-earth and friendly), their impressive CVs, their rather ninja approach to their ICO and their apparent lack of greed (air quotes - low - air quotes ICO cap... 10mil $).
I used to have 7-8 cryptos and I liquidated a few of them to participate. I agree about diversification, but I realized I prefer less baskets in which to put my eggs... 2 projects I really believe in (and I am excited about) and 2 shitcoins-gambles. And I'm 100% done with the idea of day trading.
I used to have 7-8 cryptos and I liquidated a few of them to participate. I agree about diversification, but I realized I prefer less baskets in which to put my eggs... 2 projects I really believe in (and I am excited about) and 2 shitcoins-gambles. And I'm 100% done with the idea of day trading.
PastorOfMuppets
Banned
Realistically, you can't expect to consistently time absolute peaks. If you got out near the top, just be happy with it.
I had a trade that recently went like this:
* 100 Factom sold at 0.0102 BTC (could have sold at 0.0104)
* Bought at 0.0091 BTC (could have bought back in at 0.0088)
Picked up an extra 12 Factom outta it. If I had timed it at the absolute peak, I would have picked up an additional 6 Factom. Not gonna sweat over it if I came out on top. Remember, this is a 24/7 market, over a long enough time frame you'll never really be at the true bottom or the true peak.
walking fiend
Member
Trying to catch the high is nearly impossible. A high, by definition, means that the price will fall shortly after. So say you are trading on a daily basis, and today is the pick for LTC, unless you are right on target with an accuracy of 1 day in your trades, and you can be that accurate without relying on price history (since today hasn't ended yet and you don't know what will happen), you will miss the peak (and being that accurate in such a volatile market is impossible unless you are a market maker and can manipulate the market).
Trying to maximize your profit will usually lead to you losing money, as typically you'll see that there has been a high after the price has already dropped a little bit to form that high, then wonder if there will be another chance to sell at that high price, and then hold onto your assets for the high to occur again, but the price will only drop further, then you'll panic, and might wonder if there is going to a pattern reversal, and might sell your assets even at a loss.Or worse, you'll even buy more hoping that the price will go even higher, only to see it drop. I got burnt exactly like this when Eth broke 400.
If you are day trading, your best bet is that you 'will be' late by 1 day for all the swings, and so you shouldn't enter any trending that is not likely to last at least for several days (of course, crypto markets are way too volatile to determine any trend with a high certainty, and so is knowing how long each trend will last). Then, you'll need to form some kind of strategy. For example, some people look to ride local swings. That is, you have an uptrending market, and a local uptrend with even a higher move emerges; then you catch the ride and exit when the ride ends. They enter the market when the market is being overbought. Some look to enter into an uptrending market after it has hit a local low; they will enter the market once the local downtrend has ended. Your strategy depends on the risk you can take and your evaluation of the market.
PastorOfMuppets
Banned
I use Bittrex. I don't like their interface but they have 2FA so that's secure enough for me. There are certain coins which can only be found on Bittrex or Liqui.io (more shady IMO because it's Russian operated and owned) so it kinda comes with the territory.
CaptainZombie
Member
Yeah I've been using Bittrex since my initial post. There is a learning curve to buying on there for sure. It was my only choice really for ANS. I'm hearing Polo and or Kraken might be adding it once it becomes Neo so I'll transfer there.
Business
Member
I think it's foolish to believe one can trade these things intra day or on a day to day basis and make a consistent profit.
If you believe these things will take off big time, buy, hold and look again in 2022. If you don't believe that, you are playing russian roulette for % peanuts.
What does this mean? Crash incoming?
Borboleta Amarela
Member
But the price isn't going up. It's stuck around 230 euros for the last couple of days.
Is there a dip incoming before August 1?
It went from USD$255 to 275 in about two hours partially as a result of the bot buys I described. Now it's back to 265 and dropping after the bot stopped a few hours ago. It was either an institutional investor buying in or a whale trying to initiate more buying activity. It didn't last though. I don't see ETH going below USD$250 for any prolonged amount of time. As for when it will jump again, who knows, but it is likely to be much higher in 2 years than it is today.
walking fiend
Member
EOS breaking out of a downward wedge, another rally incoming?
The whole Ethereum market is very fishy. If for whatever reason it breaks down, the next support is around $50, as that is where most of the volume has been traded. Buyers at that price can easily exhaust all the purchases at any price above $50 at a profit to bring the market down and load again in case they see enough inherent value in Ethereum. The same is also true about BTC, if it breaks down its next support is around $650. I am not sure why the price is rising anyway, so I might be missing something crucial (for example, that Bitcoin has actually been used a lot to exchange money between private buyers and sellers, and market data from exchanges doesn't paint an accurate representation of how much and at what price bitcoin has been traded)
NiiloPielinen
Member
Yeah, I'm not exactly day trading or intending to do that on regular basis, I just noticed that LTC was getting high after few weeks and I knew that after a sudden big rise, there usually comes a dip. I intend to hold for long term but was looking for a chance to increase number of LTC by capitalizing on a rise / dip.
I did sell at profit so it wasn't bad, only thing is that LTC seems to hang now around the price I sold.
I've been using walking fiends graph settings from page 8 to determine overall trends.
What's the deal with ARK? Their forums are dead, so is their development activity, and yet they are pushing ad campaigns and such to drive the price and hype up.
Do they think they are sitting on a gold mine, waiting for everyone to cash in with the low price, or is this just vaporware where the devs want to cash in with the ad campaign as a last resort?
I'm totally newbie with cryptocurrency, by the way.
Do they think they are sitting on a gold mine, waiting for everyone to cash in with the low price, or is this just vaporware where the devs want to cash in with the ad campaign as a last resort?
I'm totally newbie with cryptocurrency, by the way.
Pump'n'dump rally maybe. For EOS to rally, an awful lot of token holders would have to all agree on its future potential. I just can't see that being sustainable at this time.
I find that technical analysis of something like ETH can help a little bit to predict small price movements, but extrapolating it out to predict huge increases or decreases doesn't really work as well. At this point, if the price drops to $200, some institutional investors with big pockets will appear to just buy it all up without warning. Likewise if the price rises unexpectedly, a bunch of huge sell orders will likely appear as well unless the buy volume is overwhelming. TA of EOS is also next to useless in my opinion during the ICO given the way the ongoing token sale affects the trading price. How does TA account for massive and continuous inflation of an asset?
CaptainZombie
Member
This could be some good news for Stratis that could get this coin back into double digits.
Coinbase is pretty straightforward and easy to use, especially for small quantities, if their new user verification works for you. I bought my first ETH from them at $60, but their verification wouldn't work for me, so I could only buy $100 worth.
Once you're registered with Coinbase, you can also trade with their exchange site, GDAX, which has lower trading fees.
If Coinbase/GDAX doesn't work, try Gemini or Kraken next.
walking fiend
Member
The fundamental premise of TA is that price of an asset reflects everything associated with it. Whatever the buyers know, whoever are the buyers, whatever is the method of the ICO, all of that eventually is only reflected in the price of the asset. My previous post should actually be a good example. A chart pattern formed like that is not random, and since then EOS has certainly broken out of its downward trend and has been continuously moving up.
Of course, there are limitations to TA. Important events and news, fundamental analysis, and market manipulators all have a priority over TA.
I really doubt any institution would invest in Ethereum at $200. What is there to prevent it from crashing any lower? There is simply no way for them to own a major share of Ethereum at $200 per Eth anyway. So what would be the point?
DonMigs85
Member
Let's see what happens after this event.
https://blog.ark.io/ark-fintech-week-in-new-york-5e3a9ba1d824
Actually I'm now wondering if I should switch to ARDOR instead.