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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
walking fiend
Member
So, w ill BTC break its ATH this time around? It seems the fork is gonna be very smooth
Probably sometime in August, yes. The first few days might still be a bit shaky though.
shockthrill
Banned
just listening to Vitalik Buterin talk is a pleasure
the kid is a genius and should be seen as the next Musk or Jobs
https://www.youtube.com/watch?v=p5qwbOkCZSc
the kid is a genius and should be seen as the next Musk or Jobs
https://www.youtube.com/watch?v=p5qwbOkCZSc
walking fiend
Member
I guess I am gonna get some ether or ltc instead then; unpredictable markets are bad for my heart
Expect volatility on all crypto, with an eventual swing upwards. I am also expecting an ETH ATH as well once the mining reward is reduced, which I'm hearing will happen sometime in the next 3 months, but $300 ETH is probably coming in August in the meantime.
walking fiend
Member
LTC has been stable compared to all the other alt-coins; my guess is that it is because it has already realized its full potential and its usefulness is not tied to some potential future applications or features that yet have to be developed. Though, given that it was touted as a BTC + SegWit, its relevance after BTC incorporates SegWit is somewhat questionable. I feel safe buying it now nonetheless, as it seems to be at a support level and will have a breakout move if it goes up and if goes down I'll have a stop order just below the support
NiiloPielinen
Member
How do you guys determine the support level?
Dunno, Eth has a lot of issues, and Vitalik's response to those issues are a bit.... strange.
TheLostBigBoss
Banned
Strat taking a beating, but it seems like a lot of coins are dropping off from the huge rise a month ago.
CaptainZombie
Member
Yeah a lot are taking a beating. Eth is at $190 range now, it's taking a slow drop for sure. I wonder how low it will really get. Plus I think people are taking their money from Alta and dumping it into BTC for the hardfork to get double the coins which is driving everything down. BTC is at $2800 again.
If there truly was a rush to convert coins to BTC today to receive BCC on August 1, it's pretty safe to assume that at least some of those people will dump BTC at the first price that looks good in August. ETHBTC ratio is way down now. Not sure if it will go down even further over the weekend, but it surely won't stay this low once August comes around.
TheLostBigBoss
Banned
I already put around 400 into the market, most of it is in strat, with around 10K siacoins that are for the long term to see if I can get a decent return.
Even with these low prices, don't really want to commit anymore money.
Even with these low prices, don't really want to commit anymore money.
CaptainZombie
Member
Since your long term on Sia and Strat I'd just hold. I've got Neo and Bat for long term, and Bat has taken a massive beating like Stratis. Lol
coinbase with the latest mail about the fork.
coinbase is going the get some good chunk of BCC in this case. Rest readable here
Had 200 € in STRAT for long term but decided to split it into other coins when it rose. Maybe going to get back into it sometime. Short of getting a new better job so maybe i'm going to up my gambling limit a bit
coinbase is going the get some good chunk of BCC in this case. Rest readable here
Had 200 € in STRAT for long term but decided to split it into other coins when it rose. Maybe going to get back into it sometime. Short of getting a new better job so maybe i'm going to up my gambling limit a bit
walking fiend
Member
There are various ways and none of them are too accurate. One way is too look at a price at which the movement of the market has been horizontal; that signals formation of either a resistance or a support. One way is to look at prices at which previously there has been reversals. One way is too look at 50 and 200 moving averages, they typically represent important price points. There are more advanced methods too, using Fibonacci levels and such
For short term trading you can look at order books on exchange; there are prices at which the buy/sell orders are concentrated forming resistance/support levels. Let's take LTC; I had bought LTC at 42 last night but I wasn't sure if it will drop or not, so I wanted to put a stop order. I looked at the order book and noticed there are few orders from 42 to 41.6 but a large buy order at 41.5, so it is natural for ltc price to flactuate between 42 and 41.6 but if it goes below 41.5 it means the buy order at that price is gone and the market is declining and quickly prices will fall further. This way although I incurred a small loss, but now if I want to I can buy even more LTC. Support and resistance levels let you minimize your loss and maximize your profit in case of market reversal.
TheLostBigBoss
Banned
woops, nvm
Kraken just announced they will support Bitcoin Cash, and it will automatically appear in the account of anyone holding bitcoin on Kraken at the time of the fork. In my opinion this is the most customer-friendly way of handling the fork.
For exchanges that will support BCC in this way, I'm getting the feeling there might be a mad rush to convert everything to Bitcoin in the hours before the fork, and then convert out again immediately after Bitcoin trading resumes. It could be a bloodbath all around in those few hours, with altcoins being suppressed significantly before the fork in a last-minute conversion to Bitcoin, and Bitcoin dropping like a rock immediately after, before everything leveling off in the days afterwards. Maybe it makes sense to convert any altcoins to fiat the day before the fork, depending on how things are looking, and then buy them back immediately before the fork, either just before Bitcoin trading is halted or while it is down. Or you could just hold your altcoins through all of this, and end up pretty much where you started, just with lots of volatility in-between. Lots to think about.
For exchanges that will support BCC in this way, I'm getting the feeling there might be a mad rush to convert everything to Bitcoin in the hours before the fork, and then convert out again immediately after Bitcoin trading resumes. It could be a bloodbath all around in those few hours, with altcoins being suppressed significantly before the fork in a last-minute conversion to Bitcoin, and Bitcoin dropping like a rock immediately after, before everything leveling off in the days afterwards. Maybe it makes sense to convert any altcoins to fiat the day before the fork, depending on how things are looking, and then buy them back immediately before the fork, either just before Bitcoin trading is halted or while it is down. Or you could just hold your altcoins through all of this, and end up pretty much where you started, just with lots of volatility in-between. Lots to think about.
Crazy days ahead, to say the least
RBelong2Us
Member
Ethereum below $190...let's see how low it can go this weekend .
LTC also fell below $40
LTC also fell below $40
Borboleta Amarela
Member
I'm waiting for the dip on BTC and the pump on ETH. I'm hoping BTC crashes after august 1st. Let's see if I'm not just throwing away money by shorting it.
CaptainZombie
Member
Eth is dropping hard, crazy that I had called this a few days ago. We could be seeing another $130-140 range this weekend.
walking fiend
Member
Whatever you do, don't do margin trading no matter what, as there will be a lot of turbulence; Kraken even announced a notice warning their users. I am 95% fiat until maybe two weeks from now, not even providing funding.
Yeah, the pattern is quite interesting. Each time there is a hike in BTC price, alt-coins drop a little and form a new support at a lower price, then once BTC starts falling, alt-coins start falling again; it seems they are doomed no matter what lol
DonMigs85
Member
Yeah I wonder about this but there's just so many ICOs.
Waves isn't an ICO. It's a fully working platform which has ICO's on it such as MobileGo.
They're also working with the Russian government to bring them into the crypto world.
More here;
https://cointelegraph.com/news/russ...pto-asset-platform-as-court-bans-bitcoin-info
The big question is whether altcoins will go up or down after the fork. Generally in crypto, it's a good idea to look at doing the opposite of what the majority is doing, especially if they've been doing it for a while.
walking fiend
Member
Short term, people will sell BTC to buy alt-coins at each post-fork price hike, and even after that, I suspect the absolute price of most of them will start to rise once the market stabilizes again and the positive cash flow starts; relatively speaking though, I suspect BTC will leave most of them in the dust in a matter of months. It has an established development history and is the most recognized of them all. The claim that it will replace gold is not too far-fetched; at least it will become the gold of the e-world.
CaptainZombie
Member
Some good points there. I wonder where this will leave Eth considering now it just keeps dropping.
Edit: Eth made a bounce back in the $200's today, guess I was quite wrong in thinking it would keep dropping.
Interficium
Banned
Why is Eth rising and BTC falling when common logic says people would be getting out of altcoins and into BTC get BCC when the fork comes?
Should I just be doing the opposite of what makes sense?
Should I just be doing the opposite of what makes sense?
I was thinking we wouldn't see a rise in alts until after the fork, but maybe demand for BCC is starting to top out, i.e. most people that want to get BCC have already bought their BTC and this has led to reduced selling pressure in alts.
CaptainZombie
Member
I've been out all day so missed out on the Eth in the 180's, which I was hoping would get to the 170 or lower. I've been keeping an eye on it the last 2 hrs and it went as high as $209 and now it is back to $198 range. Wondering if it does drop back down tomorrow or stays consolidating in this range.
Volatility goes both ways. We're bound to see more of it over the next two days. If ETH goes on a major bull run on Sunday it would be a big surprise, and also very temporary. If the 180s return again and I was still holding fiat, I would buy at least some ETH while the price is moving down.
CaptainZombie
Member
Very true on the volatility. It looks like we are now dropping to the mid 190's, it is quite an interesting market to follow.
CaptainZombie
Member
The market today is starting to look like some red, lets see how long this lasts.
NiiloPielinen
Member
Today's the big day. Any chance of flash crashes among various currencies when BTC suddenly stops trading?
Spuck-uk
Banned
Like most cryptocurrencies and exchanges, most likely.
Borboleta Amarela
Member
These next few days will be a bloodbath. I'm shorting BTC and I'm already 200$ in the red but I'll ride it through till the end (get my position liquidated or simply buy back at a high price). I'm hoping for a crash but the more I think about it the more I get the impression it'll go up a lot before crashing. Too many shorts...
A likely outcome would be that the moment that BCH gets distributed to people's wallets there will be a rush to be the first to transfer BTC back to any exchange that hasn't halted BTC trading during the fork period, and immediately sell. For any exchange that will just give you the BCH without you having to withdraw to a wallet, BTC will start being sold immediately after the BCH appears in their accounts on the exchange. People who only use an exchange that is halting trading will be screwed as the price plummets while they are unable to do anything about it. Once GDAX and other exchanges resume trading, the price will experience a significant further drop, before bouncing back in a few days.
I think this BTC panic selling will result in ETH going up to the 220-230 range, but that could be wrong, and all altcoins could fall more as well. I don't see that an ETH flash crash is likely as a result of the BTC hard fork, but possibly a minor drop. An ETH flash pump is possible.
CaptainZombie
Member
Rather silence before the storm atm. A bit red here and there but nothing gravy.
Would not mind adding a bit of dirt cheap ANS / NEO though so hopefully we see some action
There was some red yesterday evening and by this morning some of that red has turned green. I wonder if some of that assumption that many have had that it would be a bloodbath may not, unless something happens tomorrow.
I want to also get some Eth and NEO on the cheaper side. Eth seems to keep on holding tight where it is at right now.
Have any of you guys bought any Digibyte? Do you see a long term future in the coin at all? I was thinking of just tossing $100 on it to see where it goes. Some are predicting that it will double and possibly triple this upcoming month.
walking fiend
Member
I made some money out of buying LTC cheap; it has started a rally. I really like LTC both as a project and in technical terms.
I also have chicken-soup for the soul kind of story too: I saw a guy driving a Lexus yesterday with the plate 'ETHEREUM'
I also have chicken-soup for the soul kind of story too: I saw a guy driving a Lexus yesterday with the plate 'ETHEREUM'
I made some money out of buying LTC cheap; it has started a rally. I really like LTC both as a project and in technical terms.
I also have chicken-soup for the soul kind of story too: I saw a guy driving a Lexus yesterday with the plate 'ETHEREUM'
Did he crash?