Too dangerous with eth imo. Staying in eth at all right now is a huge risk.
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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
Too dangerous with eth imo. Staying in eth at all right now is a huge risk.
Borboleta Amarela
Member
Just closed my position earlier. Made around 80 Euros, which is nothing in the grand scheme of things. Just my first try at margin trading and I now understand why it's dangerous. Definitely won't do it again.
Aztechnology
Member
I'm genuinely curious how people feel Bitcoin or other cyrptocurrencies will take off given the high fees, time delays and general structure. What's been the discussion/hope for long term success of cyrptocurrencies in business and trade? Realistically how do their fees compare to those of merchant fees. For instance is it realistic to ever see the merchants adjusting prices/eating fees over a certain cost? Just moving a small amount of coins in any exchange of purchase is extremely offputing for actual usage. As of right now it's solely a stock exchange riding on perception to me.
I think the underlying technologies are incredible, but my certainty for any of these coins specifically is waning over time.
I think the underlying technologies are incredible, but my certainty for any of these coins specifically is waning over time.
Fees and timing are all being worked on. Everyone knows they have to improve. At the same time, crypto already presents a much faster and cheaper way of moving money than bank wire transfers. I have a lot of confidence in crypto eventually getting mainstream adoption, but I remain highly skeptical of many development teams working in this space. If all the big banks, and some key governments, got together and agreed to develop a standard cryptocurrency I think that would provide incredible benefits worldwide. Imagine getting paid by your employer in crypto instead of fiat. Moving money around would be so much easier and cheaper. I don't think Bitcoin is going to be the final solution for that problem but I don't see it going away either.
Interficium
Banned
Ether looking to test 150 this weekend. Crazy.
Not crazy if you look at a 3 month price chart.
The long hold at 185-200 is over. Anyone who didn't sell... I don't know what they're thinking.
walking fiend
Member
Yeah; if I knew more, I would have exited the market almost exactly a month ago. Kinda crazy how no one really paid much attention to the technical side of the ether
You should start small with margin trading and put into it only your profits. There should always be reasonable stop marks too, otherwise in a flash downward or upward movement your position will be closed
Unknown Soldier
Member
It's not like ETH crashed overnight. People have had ages to make a move if they didn't want to stay in. No matter what price you bought in at (except the top), you had a chance to get out before you lost your shirt. This was one slow, arduous, excruciating decline.
Meanwhile BTC under $2,000 now, this is getting ugly all around.
CaptainZombie
Member
BTC has gotten back up to the $2030-2040 range, while Eth keeps declining in the $160's. Like you said, I wouldn't be surprised if Eth got into the double digits before this all said and done.
I am so glad right now that ANS is still holding tight, one of the few solid coins/shares during this whole blood bath.
Since it didn't get hung up at 164, I didn't buy. Now @153. The ETH/BTC ratio has not been good for ETH overnight, but falling below 150 looks like it might need some help from Bitcoin, currently @1946. Sub-1900 Bitcoin would do it. It could happen. I think we are in for a long day of this movement. I don't see any signals to buy yet.
Future PhaZe
Member
Now the hardest part: trying to buy something close to the floor.
I'm guessing 135 is rock bottom but..
I'm guessing 135 is rock bottom but..
Bitcoin is probably going to keep moving downwards for at least another week. Depending on how the ETH/BTC ratio goes, ETH could be anywhere from 85 to 120 or so. 110 is a possible bottom candidate.
Probably going to bounce, but having studied ETH now, there is almost always at least two attempts to get past or return to a number it hasn't been able to break first. The volume on the second attempt has to be high for a big bounce. If the volume is too low, I wouldn't buy to trade on a predicted bounce.
CaptainZombie
Member
Lol! I called this the other day and I can't believe it happened this quick. I thought by next weekend at the earliest we would be $150 range. I'm debating to stock up on Eth now or wait to see if it goes under $100.
Aquavelvaman
Banned
ETH is going back in time to May. Crazy.
Future PhaZe
Member
"Hold"
walking fiend
Member
It'll probably bounce back to at least $165 before having another leg down (if the correction continues; which I believe will until Eth hits $90 or possibly $50).
Meanwhile, I see a buy opportunity for LTC. It seems to have hit its daily support, possibly a new low:
https://www.tradingview.com/x/unrmDnbL/
If LTC holds its support despite ETH or BTC going down, it might gain a lot of cash inflow, will be interesting to watch
CaptainZombie
Member
Bittrex really were taking people's money with ANS withdrawals, I can't wait till more exchanges get this when it changes to NEO.
Looking at the charts looks like another possible drop incoming with Eth.
I bought back in on BTC at 1800. Got lucky, since I was trading on gdax and seems other exchanges didn't dip that low.
Might go lower still but I think further downside is minimal.
I expected people to sell off ahead of August 1. Still think the fork will mostly be a non event and because of that, people will buy back in that sold. So the price could climb back pretty high quickly if that happens.
Might go lower still but I think further downside is minimal.
I expected people to sell off ahead of August 1. Still think the fork will mostly be a non event and because of that, people will buy back in that sold. So the price could climb back pretty high quickly if that happens.
Unknown Soldier
Member
Watching ETH very slowly bleeding out is like watching a slow-motion car crash replay in Burnout.
I wonder where the bottom is. And when it's safe to buy back in.
I wonder where the bottom is. And when it's safe to buy back in.
I'm eyeing 105-115 as where I might consider buying. 50 might be possible but might not hang around there long. Mostly I will just keep watching what happens until it feels right for me. Not there yet.
CaptainZombie
Member
I'm hoping for $120 range even if it dips lower than that, we know it'll go back up.
Borboleta Amarela
Member
Could've sold at a loss to buy more ETH than the amount you originally had so that when it pumps again, you would nullify your losses.
How much ark do you hold?
I'm running a private node which is currently in the top 51. If you're interested in joining then PM me.
High hopes for Ark. I'm hoping to buy more, just waiting for a better entry point.
DonMigs85
Member
Not much, only 250 so far. I wanna put in some more but not sure if I should wait.
Golden_Pigeon
Banned
#Holdteam
PastorOfMuppets
Banned
I shorted ETH all the way from 0.095 to 0.77. So glad right now, bear markets still have opportunities for money making.
I ended up reinvesting the gains into Factom and Ethereum.
I ended up reinvesting the gains into Factom and Ethereum.
What exchange do you use for shorting? I might try some but coinbase fees are bullshit.
walking fiend
Member
I am not a faithful in Fibonacci numbers, but a retracement of 62% to 38% above the previous ATH would be a common Fibonacci pattern:
($400 - $10) * 0.32 + $10 = $135
We almost hit $135, and the market has been recovering. We might be there
That being said, I wouldn't enter the market unless I could catch an entry point [the low of ~$150 was an obvious one, wait until tomorrow and see when is the next one]
I say if this run up is halted by around 180, it's headed back down, in a spirit-crushing manner.
walking fiend
Member
I agree; if it can't break through the next resistance, it'll resume the downtrend with even a lower low in the outlook. Not that I mind it; as long as the market is trending we can make money; there are way too many people that do not let go of their coins, which means we can margin sell their coins at resistance levels and give them back the coins at supports...
Biff
Member
Jesus Christ.
Please for the love of god to anyone just entering this thread: literally no one here has any ability whatsoever to predict the price of any cryptocurrency in any fashion under any circumstances whatsoever.
This is pure gambling. There is no science. There are no fundamentals.
The difference between cryptocurrency and a casino is that if you happen to win in a casino, you can walk to a teller and cash out your chips. If you happen to win in cryptocurrency, you have to jump through hoops and hope and pray your earnings are successfully converted into USD and safely deposited back into your account without your transfer agent going bankrupt or being revealed as a total scam.
DO
NOT
INVEST
IN
CRYPTOCURRENCY
It is gambling in the sense that this can go to zero. Not being able to cash out is complete FUD though, I've been trading crypto for many years and it's only gotten easier to convert to USD. Reputable exchanges like Coinbase are FDIC insured now, as well. So leaving money on them is pretty safe.
It is definitely a strange feeling to, in a sense, essentially have someone pay you to hold their crypto for an hour at a time.
I think the movement in the next 2-3 days is going to be extremely indicative of which direction this is all going in August. There are more rumors of EEA3 being announced this week too, which could change things, although the market may be past the point of caring about that right now.
NiiloPielinen
Member
If ETH gets back to a nice round number, 200, 250 or 300 USD, do you think ICOs are going to sell their ETH at that point?
Will ETH rise as august 1st approaches if people convert their BTC to ETH?
Speaking of which, I read this article about what could happen in case of BTC hard fork, it does not paint a pretty picture:
https://medium.com/@jimmysong/why-a-bitcoin-divorce-will-be-really-painful-65fc54dec61d
Will ETH rise as august 1st approaches if people convert their BTC to ETH?
Speaking of which, I read this article about what could happen in case of BTC hard fork, it does not paint a pretty picture:
https://medium.com/@jimmysong/why-a-bitcoin-divorce-will-be-really-painful-65fc54dec61d