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The effect of a stock market correction/crash on cryptos? 4 replies

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Is Bitcoin about to crash?

  • #41
  • Dec 22, 2017 8:23am Dec 22, 2017 8:23am
Same for me. I have a close friend who bought this stuff at $16500. Couldn't convince him to wait, at least for a strong pullback. He said ''what if it keeps going to $100000 without pullback. I prefer to be in now!''.
Don't give up on your dreams. Keep sleeping.
  • #42
  • Dec 22, 2017 8:26am Dec 22, 2017 8:26am
It is not only Bitcoin. Basically the whole Crypto market is in a free fall today.
Most likely profit taking before Christmas.

https://coinmarketcap.com/

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  • #43
  • Dec 22, 2017 8:28am Dec 22, 2017 8:28am
Quoting raklian
I feel bad for those who took out mortgages to buy BTC at or near the peak. God save their souls.
Yes, there were many according to the media.
  • #44
  • Dec 22, 2017 8:31am Dec 22, 2017 8:31am
Quoting mw108
It is not only Bitcoin. Basically the whole Crypto market is in a free fall today. Most likely profit taking before Christmas. https://coinmarketcap.com/ {image}
The wise ones will have got out before today, because the signs have been there for a while. The biggest losers will be those clueless investors who were sucked into it close to the highs by all the hype. Their Christmas is already in tatters!
  • #45
  • Dec 22, 2017 8:38am Dec 22, 2017 8:38am
Quoting cat
{quote} The wise ones will have got out before today, because the signs have been there for a while.
Still, it is nothing new. Bitcoin had price fluctuations of 50% in the past. Some Cryptos gained 90% or 140% in the past few days and lost 30-40% the day after. Normal madness I'd say.
  • #46
  • Dec 22, 2017 8:39am Dec 22, 2017 8:39am
Bitcoin load long @ 10990
If breaks below ^ = 7777
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Founder of Sutherland Wave Principle
  • #47
  • Dec 22, 2017 8:48am Dec 22, 2017 8:48am
10,660 is a big potential support level, below which the way is open to 7000 or so on the Daily chart.
  • #48
  • Dec 22, 2017 8:57am Dec 22, 2017 8:57am
H6 200sma support pretty much to the pip. Moving to the 1m tf, it rose a bit, put in a higher low, and up she went. I think we may have seen the lows for today, though I'm not ruling anything in or out.
  • #49
  • Dec 22, 2017 9:05am Dec 22, 2017 9:05am
Timber!!
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  • #50
  • Dec 22, 2017 9:17am Dec 22, 2017 9:17am
A bounce from 75% swing retrace. If it doesn't hold here down to $5000 eh heh heh heh
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  • #51
  • Dec 22, 2017 9:21am Dec 22, 2017 9:21am
Quoting maflip
A bounce from 75% swing retrace. If it doesn't hold here down to $5000 eh heh heh heh {image}
Last time Bitcoin tested the 75% retrace it recovered and you know the story. Will it repeat it again? If not then it's a change of trend.
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  • #52
  • Dec 22, 2017 9:37am Dec 22, 2017 9:37am
so any gamblers with huuuuuugggggggeeee balls that wants to buy at this 75% retrace?
  • #53
  • Dec 22, 2017 10:01am Dec 22, 2017 10:01am
Quoting maflip
so any gamblers with huuuuuugggggggeeee balls that wants to buy at this 75% retrace?
Me lol at $11.5k
Never let success get to your head because the market will punish you
  • #54
  • Dec 22, 2017 10:02am Dec 22, 2017 10:02am
Quoting reggiecjh
{quote} Me lol at $11.5k
Nothing wrong with that. Good Luck!!!
  • #55
  • Dec 23, 2017 1:24am Dec 23, 2017 1:24am
Bitcoin is not crashing. I have seen this many times ... relax. Since 2011 Bitcoin was declared dead at least 100 times by the gurus.
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  • #56
  • Edited 6:33am Dec 23, 2017 5:49am | Edited 6:33am
Quoting OneOracle;10617425[B
]Bitcoin is not crashing.[/b] I have seen this many times ... relax. Since 2011 Bitcoin was declared dead at least 100 times by the gurus. {image}
Your post is redundant - Bitcoin crashed. A 45% loss inside a week is a crash in any market. No one said it was dead, I never did. I said it would likely crash back on December 8th here on ff, and it did. It can now continue to be bought back up again to higher levels, or it can fall some more.

If you had read my original post, which obviously you did not, you would have seen how I defined ' crash ' in this context.....

" Bitcoin is so far above its Daily 200 day simple and exponential moving averages now, that it seems impossible to me that it can keep on climbing without coming way back, and I mean back to 10,000 or lower. Yesterday's record breaking move, the single biggest one day candle in its history, a $3,761 rise, could well be a ' Death Throe ' candle which signals the top or bottom of a market, temporarily or otherwise. "

It fell, to $ 10,820, so I was not too far out.

You call yourself an Oracle, though I would call you the hindsight Oracle. Relax you say...tell that to all those who were borrowing money to buy into Bitcoin during the hype of the last couple of weeks or so - they will most likely be bankrupt by now.

Sorry, but I dislike smart asses, especially when they are not very smart.
  • #57
  • Dec 23, 2017 6:52am Dec 23, 2017 6:52am
Quoting cat
{quote} Your post is redundant - Bitcoin crashed. A 45% loss inside a week is a crash in any market. No one said it was dead, I never did. I said it would likely crash back on December 8th here on ff, and it did. It can now continue to be bought back up again to higher levels, or it can fall some more. If you had read my original post, which obviously you did not, you would have seen how I defined ' crash ' in this context..... " Bitcoin is so far above its Daily 200 day simple and exponential moving averages now, that it seems impossible to me...
You beat me to it
  • #58
  • Dec 23, 2017 7:16am Dec 23, 2017 7:16am
Quoting cat
{quote} Your post is redundant - Bitcoin crashed. A 45% loss inside a week is a crash in any market. No one said it was dead, I never did. I said it would likely crash back on December 8th here on ff, and it did. It can now continue to be bought back up again to higher levels, or it can fall some more. If you had read my original post, which obviously you did not, you would have seen how I defined ' crash ' in this context..... " Bitcoin is so far above its Daily 200 day simple and exponential moving averages now, that it seems impossible to me...
You are unnecessarily harsh. Different people have different opinions. Thats what a forum is for: Discussing and sharing different thoughts. You should respect that, instead of getting down on him and make him shut up.

It was predictable that after such a year of exponential growth, investors are cashing out at the end of the year before the holidays. And as I already said: It was not only Bitcoin, ALL Cryptos lost 50%+ yesterday. Simply profit taking at the end of the year. So basically you could have made this prediction for all Cryptos and would still be right.

If anybody borrows money to invest into a highly speculative and volatile asset already ignored rule #1: Only trade with what you are ready to lose. But FOMO and greed got them. Lesson learned I hope.
And besides of that: If anyone bought BTC at the top, they didn't make any losses yet. They just have to wait and hold it out throught next year.
  • #59
  • Dec 23, 2017 8:42am Dec 23, 2017 8:42am
Quoting mw108
{quote} You are unnecessarily harsh. Different people have different opinions. Thats what a forum is for: Discussing and sharing different thoughts. You should respect that, instead of getting down on him and make him shut up. It was predictable that after such a year of exponential growth, investors are cashing out at the end of the year before the holidays. .
No I wasn't. I have been posting on ff for seven years, and I have had run ins with many arrogant smart asses who think it is clever to patronize others with their self-appointed wisdom... " I have seen this many times...relax ". He wasn't discussing or sharing thoughts, he was attempting to demonstrate, after the event, how smart he is. I should respect that should I? You can, I don't.

Last week's 45% fall was predictable was it? Show me then just where you predicted it here on ff during the past couple of weeks, and I will show more respect than I am currently giving you.
  • #60
  • Dec 23, 2017 10:15am Dec 23, 2017 10:15am
Quoting cat
[...], he was attempting to demonstrate, after the event, how smart he is.
You assume that he meant it like that, because you perceive it so. The picture and "words" of "OneOracle" only exist in your mind, the way you like it. Text communication is one of the most basic forms of communication. It lacks everything you'd most likely just giggle about in a real conversation, but reading the same thing in an email or forum makes you see red. It is simple psychology.

Quoting cat
Last week's 45% fall was predictable was it? Show me then just where you predicted it here on ff during the past couple of weeks, and I will show more respect than I am currently giving you.
Look at the charts. BTC had a lot of 50%+ "crashes" during its existence, preceded by "death throes".
It is simply psychology too: Investors want profits. Especially after such a parabolic move. Thats what I said several times here and there that this unhealthy growth is to be seen with caution and that I personally started to reevaluate my portfolio based on that. No future predictions, just observations and personal decisions. I don't tell what others should do or not. I can only make decisions for myself and my portfolio.

Sorry, with all respect: But in the moment you seem to be the only "arrogant smart ass" here.
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