Cryptocurrency |OT| Nothing from Money

CaptainZombie said:
From what you are seeing here, how far into the floor can you see the price drop considering what this person is doing with manipulating both.
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They'll probably keep doing it until it stops working (they encounter resistance). If Bitcoin mysteriously starts dropping when ETH hits resistance, you know this is a manipulation.
 
Brandson said:
Their service goes offline whenever there is too much trading volume, causing users to miss out on fast price movements. This is particularly frustrating for people trying to buy crypto during a short dip/crash, as Coinbase/GDAX is almost always unresponsive during the best opportunities to do that. There have also been other technical issues resulting in orders not trading as expected over there, but I believe they have been offering reimbursements for those particular problems as they come up. It's mainly the downtime issue that people rightly are upset about. I'm not a frequent Coinbase/GDAX user though so other people might have better answers for you.

Kraken also lags quite a lot under heavy load, but usually doesn't go down completely.

I'm probably going to move to Gemini soon.
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I've been using Gemini, they are awesome.
 
Brandson said:
They'll probably keep doing it until it stops working (they encounter resistance). If Bitcoin mysteriously starts dropping when ETH hits resistance, you know this is a manipulation.
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Bitcoin dumping on cue, right when ETH hit 210. I'm not into conspiracy theories, but if the shoe fits...
 
Brandson said:
205 is the first important support test for ETH. Next is 200. If that goes, watch out, and be prepared to buy whatever looks like the bottom of the dip, if that's your thing.
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I sold off at $200 right before the bloodbath last week so I am looking to get back in at under the $200 if I can. LOL!
 
This is all going down too as I am ready to leave work in 25 minutes, damn. LOL!

Already in the 187 range.

BTW, on Gemini one guy was selling $200K worth of Eth.
 
walking fiend said:
Yeah, I am not gonna participating this circus either... if the last spike was anything to go by, it can just jump back to $220 in a minute too

Edit: BTC < $2150, Eth < $180 -> downward trend resumes, will hit new lows
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The buying I first flagged as suspicious did start around $180 by my estimation.
 
Brandson said:
The buying I first flagged as suspicious did start around $180 by my estimation.
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That is exactly where I expected Eth to resume its next downward correction wave, it behaved completely the opposite way though. But a bowl being formed is a known pattern; after the bowl ends, market resumes its previous movement
 
Segwit2x lock in on BTC is looking very likely now, so I'm not sure on the reason behind this drop. Personally, I'm rather confident the split will not happen now, I wasn't before. There is a lot of manipulation in these markets though, so who knows - people are still rightfully concerned about the fork and this could be playing on those fears.

However, looks like there was a bug found in some of the ETH wallet implementations today - around 153k ETH stolen as a result of the bug being exploited - https://twitter.com/maraoz/status/887751004971831296?s=08
 
walking fiend said:
That is exactly where I expected Eth to resume its next downward correction wave, it behaved completely the opposite way though. But a bowl being formed is a known pattern; after the bowl ends, market resumes its previous movement
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I jumped back in at $195, it seems to be going back up again. This stuff is like crazy. Fiend and Brandson, was Bitcoin this crazy too the last few years with the market bouncing around and a lot of manipulation?
 
x3sphere said:
Segwit2x lock in on BTC is looking very likely now, so I'm not sure on the reason behind this drop. Personally, I'm rather confident the split will not happen now, I wasn't before. There is a lot of manipulation in these markets though, so who knows - people are still rightfully concerned about the fork and this could be playing on those fears.

However, looks like there was a bug found in some of the ETH wallet implementations today - around 153k ETH stolen as a result of the bug being exploited - https://twitter.com/maraoz/status/887751004971831296?s=08
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Yeah that is bad news for ETH on multiple fronts. It hurts its perception as being secure AND it lets someone dump millions of dollars worth of ETH indiscriminately. This is becoming a perfect storm. Asia might still buy this up though seeing how much the price tanked today. Double digit ETH might actually be in the cards now.
 
CaptainZombie said:
I jumped back in at $195, it seems to be going back up again. This stuff is like crazy. Fiend and Brandson, was Bitcoin this crazy too the last few years with the market bouncing around and a lot of manipulation?
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I was only superficially following Bitcoin back then, but I imagine it was the same. This is why financial markets are regulated. You still get manipulators, but it's not quite as bad, I think.
 
CaptainZombie said:
I jumped back in at $195, it seems to be going back up again. This stuff is like crazy. Fiend and Brandson, was Bitcoin this crazy too the last few years with the market bouncing around and a lot of manipulation?
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Haha I hadn't even started trading back then, let alone trading cryptos. The market is not behaving strangely though. It is just a very volatile market

x3sphere said:
Segwit2x lock in on BTC is looking very likely now, so I'm not sure on the reason behind this drop. Personally, I'm rather confident the split will not happen now, I wasn't before. There is a lot of manipulation in these markets though, so who knows - people are still rightfully concerned about the fork and this could be playing on those fears.]
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BTC is a speculative market; fundamental analysis drives perhaps very major waves, these small waves are market reactions

TheDoldrums said:
Someone stole around $32M in ether from some multisig wallets.

https://etherscan.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32#internaltx
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That is not good at all. What are they gonna do, a hardfork?

I remember a long time ago someone was saying that one of the problems of Ethereum is that although it is newer and backed by corporations, its project, judging by its github actvitity level, is not as well marinated as BTCs

Edit: Looking at the order book, unless someone eats up all the falling coins, drop into 180s is imminent.
 
I made $15 out of my short $30 Not bad lol. I'll wait for the next short entry, I am eyeing the price to hit 20 MA on a time unit of 5 minutes, so around $200?
 
Clauss said:
As someone who is slightly out of the loop on current crypto-currency events, but has been a (presumably) satisfied user of Coinbase for many years, can someone ELI5 why there's a lot of negative buzz about them as of late?
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They keep canceling my CC orders for no fucking reason. I have to use my bank and wait like 7 days.
 
Brandson said:
7500 buy wall at USD$190 on Kraken.
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We are at a volume support now, I'm gonna pray to my favorite animal spirits to eat through it though haha

I'm still not willing to put a long order; if it doesn't go through, we will be looking at a large upward movement and it doesn't really matter whether I get in at $250 or $200; so I'm mostly interested in it breaking down.
 
CaptainZombie said:
Looking like it is bouncing around in the upper 190's now. This should be interesting the next few days to see if Eth falls further.
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I have no idea how to call this one. 190 was impassable as it looks like ETH ran out of sellers to overcome the 17k buy wall at 189 on Gemini. So ETH has to go above 200, and probably 210+ to allow some more churn in who holds the ETH, if there is to be another attempt to go below 190. There are also a lot of big buy orders out there. We're probably all being played yet again. Either whales are accumulating everything they can at these prices because ETH is about to explode, or they are temporarily halting the downward movement for some reason that is not immediately apparent. Maybe waiting for some buddies to get more fiat into the exchanges before removing the wall?

A possible strategy could be to just buy some ETH and don't look at the prices for the next few weeks. I am considering that. It might work better than trying to time things.
 
walking fiend said:
Think of next few hours
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Brandson said:
I have no idea how to call this one. 190 was impassable as it looks like ETH ran out of sellers to overcome the 17k buy wall at 189 on Gemini. So ETH has to go above 200, and probably 210+ to allow some more churn in who holds the ETH, if there is to be another attempt to go below 190. There are also a lot of big buy orders out there. We're probably all being played yet again. Either whales are accumulating everything they can at these prices because ETH is about to explode, or they are temporarily halting the downward movement for some reason that is not immediately apparent. Maybe waiting for some buddies to get more fiat into the exchanges before removing the wall?

A possible strategy could be to just buy some ETH and don't look at the prices for the next few weeks. I am considering that. It might work better than trying to time things.
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You guys have some good insights which is why I love this thread. Some of the other ones around the net are just not as good and full of BS. If you guys recall in May, they kept saying that Eth could hit $500 in July and at that point we were in the $130-$150 range.

Maybe these dudes like you guys said, know something and are just waiting to strike in the coming week. The whole Segwit/BIP 91 deal has had some issues, then add some of that stolen Eth, the EEA3 announcement and a few other items that were reported this past week and things could get rather interesting. I keep thinking that why would they drop the price all the way to $135 so they can stock up a ton, rally this thing to the moon and then dump.

Then on Monday add the ANS rebranding to NEO, I am expecting that they might have a big announcement because just a rebrand isn't going to do much for them.
 
Another thought about the buy wall: it would go against-type for a crypto trader, but it could be someone, or some organization, trying to prop up the price to save face for Ethereum, or not cause a lot of ETH holders to lose even more value on paper. Pure conjecture on my part, but it could be one of those EEA guys or the Ethereum Foundation keeping the wall up. It would not surprise me if they did that, not wanting to get bad press that Ethereum crashed again even after EEA3.
 
Looks like an make it or break it point for BTC; given that I still believe the market is bearish, this would be an entry point for a short order and the exit for a long order. I could be totally wrong and for an uptrend this is just start of a rally.
 
CaptainZombie said:
You guys have some good insights which is why I love this thread. Some of the other ones around the net are just not as good and full of BS. If you guys recall in May, they kept saying that Eth could hit $500 in July and at that point we were in the $130-$150 range.

Maybe these dudes like you guys said, know something and are just waiting to strike in the coming week. The whole Segwit/BIP 91 deal has had some issues, then add some of that stolen Eth, the EEA3 announcement and a few other items that were reported this past week and things could get rather interesting. I keep thinking that why would they drop the price all the way to $135 so they can stock up a ton, rally this thing to the moon and then dump.

Then on Monday add the ANS rebranding to NEO, I am expecting that they might have a big announcement because just a rebrand isn't going to do much for them.
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Thanks. I'm doing my best to figure it out, like everyone else. I make mistakes too, and have made a few regrettable trades. Overall I hope to come out on top. My best trades always come from having a set plan in advance, and then following it. Making spur of the moment decisions is where I get tripped up.

Buy wall on Gemini is still up by the way. I don't see that being torn down. It would have to be taken down if ETH is to go down.

I wish ANS/NEO well, and maybe they'll build something interesting, but I'm not getting involved with that one. It's ETH only for me, and maybe a bit of Tezos in the future.
 
Brandson said:
Thanks. I'm doing my best to figure it out, like everyone else. I make mistakes too, and have made a few regrettable trades. Overall I hope to come out on top. My best trades always come from having a set plan in advance, and then following it. Making spur of the moment decisions is where I get tripped up.

Buy wall on Gemini is still up by the way. I don't see that being torn down. It would have to be taken down if ETH is to go down.

I wish ANS/NEO well, and maybe they'll build something interesting, but I'm not getting involved with that one. It's ETH only for me, and maybe a bit of Tezos in the future.
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Yeah, there is a lot to learn with the crypto market. With it being so volatile it makes it so difficult to predict. That is my issue too with the spur of the moment decisions sometimes and we just need to be patient. I think my patience paid off last night and today, I almost bought back in a few times yesterday at those prices in the 230's, so glad that I waited.

I was 100% Eth too, but then decided to branch out to Stratis and ANS/NEO. I lost my faith in Stratis and just stuck to Eth and ANS.
 
DonMigs85 said:
I do wonder if the rebrand will suddenly cause ANS to spike.
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I really do hope that it does spike a bit since I do have a decent amount invested in it. I think they will need some huge news come on Monday along with the rebrand, maybe getting on some exchanges like Polo would be a start and announcing some upcoming projects.
 
CaptainZombie said:
Totally agree, but what is worse is that two of these guys "High on Coins" and "Vincent" have YT channels with a lot of followers, crazy to see them getting rich off of their followers and whomever else falls into their trap.
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It is sad actually; I hadn't really been posting on GAF since a year or two ago, but then saw all the people here telling everyone to hold when the price was falling from $400 and thought it doesn't make any sense. I too expected it to rise further from $400, but for whatever reason it was falling, and sometimes you just have to accept that you made a wrong move and accept some loss and exit the market. Trading is not my main source of income and I assume the same is true about most of the other people, and I don't like to see my hard earned money or anyone else's evaporate into thin air, at least not at the hands of people who have made millions of dollars
 
walking fiend said:
It is sad actually; I hadn't really been posting on GAF since a year or two ago, but then saw all the people here telling everyone to hold when the price was falling from $400 and thought it doesn't make any sense. I too expected it to rise further from $400, but for whatever reason it was falling, and sometimes you just have to accept that you made a wrong move and accept some loss and exit the market. Trading is not my main source of income and I assume the same is true about most of the other people, and I don't like to see my hard earned money or anyone else's evaporate into thin air, at least not at the hands of people who have made millions of dollars
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Eth could still hit $1K, but who knows when? That's why you can't really make a career out of this alone.
 
DonMigs85 said:
Eth could still hit $1K, but who knows when? That's why you can't really make a career out of this alone.
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I never entered the crypto market assuming it will hit any number; it is just a trading opportunity where rather clean market patterns form and you can leverage technical analysis to do trading. It doesn't really matter which direction the price goes as long as it is trending, you can still make money
 
I'm gonna sleep, kinda fun to wager what will happen by tomorrow, my take is a strongly bearish market:

j6XjMm9d
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Price highs matching with stochastic RSI 3-3-14 - time unit 30 minutes. K cross under D is an entry and vice versa. I expect the trend to last a couple of days
 
GDAX sent email yesterday notifying people about the possible hard fork and that they are closing BTC trading down for few hours when it is supposed to happen.

They also said that they do not intend to support the possible new fork and if people want to be part of that, they should withdraw their BTC by july 31.

Has there been any analysis done on BTC-ETH relation? I mean is there constant phenomena of something like "if BTC drops X then ETH goes down by amount between Y and Z".

Few days ago I was reading some reddit thread about BTC and to my understanding people in there were pro-hard fork and were fantasizing about being able to nullify BTC of some (apparently) anti-hard fork guy in their blockchain. Now, I haven't looked into blockchain technology enough to know whether that is possible but I thought that leave it to nerds in ideological conflict to burn everything down.
 
Jzero said:
So is the any chance in hell ETH will reach $300 again? I bought pretty high so i'm taking a loss regardless.
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Who knows? A year from now it could be 3000. I remember the dark days of bitcoin when it was a rlloercoaster b4 it took off like a rocket.
 
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