[Finance] The cryptocurrency (Bitcoin etc) thread

Albion Dan · May 15, 2021

DJ NOBO said:
What do you reckon about Bitcoin and Eth going forward?

The scenario that I think most likely to play out (if following historical patterns) is that this current btc correction plays out then we see the final big rise of the bull run then the start of the new bear market. Most people thinking btc goes to $100k at the top but that’s become so enshrined it herd mentality that I think it’s likely the sell off will either get front run or could see a spike much higher. Will need to pay attention at the time.

With regard to ETH I think it will out perform BTC and with the new 2.0 upgrade coming if it sorts the high gas fees and scalability issues could really grow its dominance.

One old timer that I do think looks ready af for a big rise is LTC. It’s chart against btc looks ridiculously primed and it’s 90% from it’s all time high.

Barnet Seagull · May 15, 2021

martin tyler said:
I like what they are doing and some of the projects they are linked to in recent times. I see them more long term investment rather than short same as EOS. I’m only playing with a small investment so initially have been trading profits but have a small other pool I am looking to use just to sit there on both of those.

After Elon's tweet, Cardano hasn't stopped. Just pushed through $2 and holding at $2.14 so far. Cashed my trading account out at £2.02 as I was expecting a dip and to go back in . I wasn't expecting it to get anywhere near £2.18. Nice for the larger chunk I have staked.

Sheebo · May 15, 2021

KeegansHairPiece said:
He doesn’t call himself [MENTION=457]sheebo[/MENTION] does he?

Haha I still don’t have much of a clue but it’s his money. 3k in - touched 3.5 this week then went as low as 2.7 - all fun - got Ethereum and VET as my only 2 at mo - bigger risk bigger rewards and I get half the reward so... :lol:

giveusfalmerplease · May 15, 2021

Question from the uninitiated..Will ETH 2 be a new crypto or will the existing ETH Be moved to a new platform?

beorhthelm · May 15, 2021

DJ NOBO said:
What do you reckon about Bitcoin and Eth going forward?

number go up, until number go down.

a more serious view, share Albion Dan's BTC assessment in that the real question will be what is the peak. i'd be getting nervous about dips in July/August and doubt i'll be in the market significantly by end of September. the rest of market is more complex, there's a lot of weight in ETH but there's also a lot of alternative that can try to catch up. ETH 2 is end of the year and market could be sinking by then. the greatest thing would be for BTC dominance to end, so it doesnt drive the market. if that happens we could see end to current cycle.

Tom Hark Preston Park · May 15, 2021

seagullwedgee said:
Err, no! He gave up his graduate job to become a full time self employed crypto researcher and trader, starting with a very small capital sum, he has already ten bagged, earning in 4 months what would have taken him 2 to 3 years to earn in his graduate job. I pay him 20% of all my net gains.

Not sure that will end at all well for you. The guy's doing 100% of your work and getting 20% of your gains? Plus he's got full access to your trading account? Wow! :ohmy:

martin tyler · May 15, 2021

Barnet Seagull said:
After Elon's tweet, Cardano hasn't stopped. Just pushed through $2 and holding at $2.14 so far. Cashed my trading account out at £2.02 as I was expecting a dip and to go back in . I wasn't expecting it to get anywhere near £2.18. Nice for the larger chunk I have staked.

They have been continuing their upwards trend today as well. There will be a dip I’m sure but a high today of $2.50 so far.

Charlies Shinpad · May 15, 2021

XRP making a bit of a comeback today as well.
Once that SEC case is sorted it may slingshot to silly money.
Mind you it may take until September to get that sorted out

Sent from my EML-L09 using Tapatalk

Tyrone Biggums · May 15, 2021

KeegansHairPiece said:
BTC drops to a 2 month low following Musk's tweet.

And people who are experts at the charts were saying it was on the cards before anything Musk tweeted.

Albion Dan · May 15, 2021

Tyrone Biggums said:
And people who are experts at the charts were saying it was on the cards before anything Musk tweeted.

It was. The mathematical order of the universe and cause and effect are usually perfectly in balance.

beorhthelm · May 15, 2021

Tyrone Biggums said:
And people who are experts at the charts were saying it was on the cards before anything Musk tweeted.

charts are good at saying where prices will go if conditions met, not when. you can see the reaction on minute candles when he tweets.

pb21 · May 15, 2021

beorhthelm said:
charts are good at saying where prices will go if conditions met, not when. you can see the reaction on minute candles when he tweets.

An amazingly quick volume/price change

Albion Dan · May 15, 2021

pb21 · May 15, 2021

Albion Dan said:

The market has clearly been stagnant, at best, since early March, but the Musk tweet certainly had a very negative effect.

BHAboi · May 15, 2021

Charlies Shinpad said:
XRP making a bit of a comeback today as well.
Once that SEC case is sorted it may slingshot to silly money.
Mind you it may take until September to get that sorted out

Sent from my EML-L09 using Tapatalk

Yep agree, XRP is my only crypto and in it for that reason!

beorhthelm · May 15, 2021

pb21 said:
An amazingly quick volume/price change

yep, like a cliff edge.

its fair to say there was already nervousness and had broke to downside of pattern, however cant say Musk's tweet had no effect when it was a trigger to sharp price action. inverse of when tweeted in favour and there was a 10% rise in an hour.

Tyrone Biggums · May 16, 2021

beorhthelm said:
charts are good at saying where prices will go if conditions met, not when. you can see the reaction on minute candles when he tweets.

Charts tell you a lot more than that.

The charts were actually looking backwards and noted it has reached the point where this could happen.

BTC actually bounced back from it that same day so it's not like it had the kind of impact people are saying it did.

Nobody pushing the Musk theory seems to mention that not long after news broke of Binance being investigated by the IRS and the DoJ in the US.

Which of the two do you really think has the biggest impact on the crypto market?

Albion Dan · May 16, 2021

pb21 said:
The market has clearly been stagnant, at best, since early March, but the Musk tweet certainly had a very negative effect.

Sometimes the market just needs the nudge to go where it needs too.

DJ NOBO · May 16, 2021

Just bought some Shiba. You never know!
God bless Cardano, helping to ease the pain of my untimely investment in Bitcoin, which I wrongly had down as the Pascal Gross of crypto (unspectacular but reliable) . Might as well keep it now.

beorhthelm · May 16, 2021

Tyrone Biggums said:
Nobody pushing the Musk theory seems to mention that not long after news broke of Binance being investigated by the IRS and the DoJ in the US.

Which of the two do you really think has the biggest impact on the crypto market?

just about every commentator i follow made mention of this, and that the double effect looked coordinated. and some that we should expect a exchange hack or country banning bitcoin to finish the trio. Musk comments still had a direct effect. doesnt mean Musk's comment didnt have a direct effect.

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[Finance] The cryptocurrency (Bitcoin etc) thread

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