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Attachments: Is bitcoin heading for a bubble at $30 a coin?
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Is bitcoin heading for a bubble at $30 a coin?

Quoting rekon67
{quote} Your analogy is also good, I do not have any firm "No" to any cryptos, infact in India, lot of my friends are buying bitcoins and holding them for better return - like INR 10,000 investment and cashing 25,000 in their bank account. But, they do not know why it is rising and how quick it can fall to which point! That is risky (IMO)
Fair enough, bro!
I'm a moderate, cautios, reserved myself about it

You see, a currency ...:
(1) It must be durable, which is why we don’t use wheat or corn or rice.
(2) It must be divisible, which is why we don’t use art work.
(3) It must be convenient, which is why we don’t use lead or copper.
(4) It must be consistent, which is why we don’t use real estate.
(5) It must possess value in itself, which is why we don’t use paper!!!
(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron.
(7) It should have a long history of acceptance, which is why we don’t use molybdenum or rhodium...and CRYPTO .....YET!

Only GOLD and SILVER fit all the characteristics needed.

But I don't care if it is a monkey business, I just want to be on the top side of it with the winners
...and eventually dump it if and when the times come
Member
if everyone is buying it, i`m selling it.
Quoting alexanderd
if everyone is buying it, i`m selling it.
It would be too easy to get rich only by going counter trend. Anyone can do that.
That's why it doesn't work
Good luck, anyway!
Member
Quote
US Think Tank Links Rising Bitcoin Price to Uptick in Terrorist Interest
https://www.coindesk.com/u-s-think-t...rist-interest/
Quoting TudorIoan
{quote} It would be too easy to get rich only by going counter trend. Anyone can do that. That's why it doesn't work Good luck, anyway!
isn't that the way all the securities fraud schemes ever when? Everyone buying into a hype?
Quoting ewebb205
{quote} isn't that the way all the securities fraud schemes ever when? Everyone buying into a hype?
All trading is about to get extremely excited over something that's not that exciting.
(95% of the retailers don't survive more than 2-3 years dealing on live accounts)
...common business, nothing new under the sun!
Member
Here is what’s bothering me. Even Bitcoin is not a bubble and it does not burst eventually (and that is a big if on its own, but let’s say it doesn’t happen), cryptocurrency exchanges don’t seem particularly well-secured. There are constant hacks and thefts happening with millions of dollars going missing.

The Korean exchange Youbit got hacked yesterday again and the hackers made off with 17% of its coins. I say "again" because they got hacked once back in April this year and back then the hackers stole 4000. The exchange is now filing for bankruptcy. Bitfinex got hacked last year. Hackers made off with over $70 million from NiceHash earlier this month. This is a pattern that is very concerning.
https://usethebitcoin.com/ripple-net...titutions/?xrp
https://www.financemagnates.com/cryp...illion-stolen/
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Quoting TudorIoan
{quote} It would be too easy to get rich only by going counter trend. Anyone can do that. That's why it doesn't work Good luck, anyway!
it crashed down to 12 000, but i guess now is a bad time to buy it, right? i mean you dont want to trade counter the trend...
  • Post #112
  • Quote
  • Edited at 8:16am Dec 22, 2017 7:55am | Edited at 8:16am
Quoting alexanderd
{quote} it crashed down to 12 000, but i guess now is a bad time to buy it, right? i mean you dont want to trade counter the trend...
I would wait for a 1-2-3 pattern this way I can put a stop below the pivot..... but the problem with this is that when they have bought it is the past it went to the moon before it formed the pattern so there was no chance of entering at a good level....i use 4h charts....
If you drop in a low time frame this pattern chops you too many times
https://www.coindesk.com/crypto-mark...ssets-sharply/
Quoting mlawson71
... I say "again" because they got hacked once back in April this year and back then the hackers stole 4000. The exchange is now filing for bankruptcy. Bitfinex got hacked last year. Hackers made off with over $70 million from NiceHash earlier this month. This is a pattern that is very concerning.
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Why is a Raven like a Writing Desk?
Quoting 4xPIPAHOLIC
{quote} I would wait for a 1-2-3 pattern this way I can put a stop below the pivot..... but the problem with this is that when they have bought it is the past it went to the moon before it formed the pattern so there was no chance of entering at a good level....i use 4h charts.... If you drop in a low time frame this pattern chops you too many times
to tell the truth, i wouldnt touch it... at least on technical level, it doesnt look like anything to me. there is no sufficient volume, at least at the moment to support that drop.. there is low liquidity also and this is for most of the time. i can only speculate that the drop is caused by the holidays - people trying to cash in some of their bitcoins.. which is hard and in a market with low liquidity the drop will be significant.

for me trading cryptos currently is more of a gamble than trading... or u can call it investing when you buy a hundred or a thousand of some still cheap cryptos like xripple and sell them when the price sky high and everyone is talking about buying it.. you should be selling it. but this is something more like a having a sixth sense to me than actual trading. like everytime i hear bitcoin falls significantly there is a red lamp signaling you can buy it at discount... but you can never be sure-sure, so ur best bet is to buy(gamble) little and pray for big profits.
Quoting rekon67
I thought of sharing this story..its funny but may be true also A lot of monkeys lived near a village. One day a merchant came to the village to buy these monkeys. He announced that he will buy the monkeys for $100 each The villagers thought that this man is mad. They thought how can somebody buy monkeys at $100 each? Still, some people...
Yes - One born every minute
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Quoting alexanderd
{quote} it crashed down to 12 000, but i guess now is a bad time to buy it, right? i mean you dont want to trade counter the trend...
Hi, Alex.

Trading Bitcoin counter trend it would mean to sell hard, because Bitcoin is actually a full growing potential asset.
Don't play too smart and don't confuse buying the dips, buying the corrections, buying the pull backs ...with trading counter trend!
When a trader is "buying the dip", he's actually counting on a trend continuation, is betting on a rebound of a certain asset, not on a trend reversal.

Obviously, technically $10,000 - $12,000 is a nice spot to buy a growing thing like Bitcoin.
Hopefully, we'll see more on the north side next year.

Disclaimer: ...but who the fk knows if Crypto Army will ever recover....... (my skeptical ass imaginary friend says)

Cheers!
Member
  • Post #118
  • Quote
  • Edited at 10:19am Dec 22, 2017 9:44am | Edited at 10:19am
Quoting TudorIoan
{quote} All trading is about to get extremely excited over something that's not that exciting. (95% of the retailers don't survive more than 2-3 years dealing on live accounts) ...common business, nothing new under the sun!
HYPE! ...or crazy ...it's the greeeeed!

Quoting turnip15
{quote} Yes - One born every minute {image}
Nice!
I got a better one! (yea, it was posted on FF before )
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Quoting TudorIoan
{quote} Hi, Alex. Trading Bitcoin counter trend it would mean to sell hard, because Bitcoin is actually a full growing potential asset. Don't play too smart and don't confuse buying the dips, buying the corrections, buying the pull backs ...with trading counter trend! When a trader is "buying the dip", he's actually counting on a trend continuation, is betting on a rebound of a certain asset, not on a trend reversal. Obviously, technically $10,000 - $12,000 is a nice spot to buy a growing thing like Bitcoin. Hopefully, we'll see more on the north...
why would you sell hard when is falling? falling to half the price it was a few days ago is definitely a down trend... which you dont sell into, you buy it, if you wanna gamble that is. seems like a decent trade with stop loss around that china news, but one bitcoin with spread cost me around 3k and with that money i could`ve shorted the usd/cad with 6 lots!

this bitcoin thingy feels like gold, just much shittier.. as i said low volume and low liquidity for most of the time and you never know when the shit is gonna hit the fan.

cheers and good trading all.
Quoting alexanderd
{quote} why would you sell hard when is falling? falling to half the price it was a few days ago is definitely a down trend... which you dont sell into, you buy it, if you wanna gamble that is. seems like a decent trade with stop loss around that china news, but one bitcoin with spread cost me around 3k and with that money i could`ve shorted the usd/cad with 6 lots! this bitcoin thingy feels like gold, just much shittier.. as i said low volume and low liquidity for most of the time and you never know when the shit is gonna hit the fan. cheers and...
Fair enough!
Well, I do like your view. Excuse me though, I was talking common, classical technicalities....
But it looks like you know very well what you're doing.
Maybe justta misunderstanding... but we're mostly on the same page ...of trading

Cheers and good trading to you too!
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