Don't want to alarm you guys invested in but I noticed this morning huge losses in most cryptocurrencies.
BTC down 13%
ETH down 19%
XRP down 25%
Plus alot more, anything triggering this?
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Don't want to alarm you guys invested in but I noticed this morning huge losses in most cryptocurrencies.
BTC down 13%
ETH down 19%
XRP down 25%
Plus alot more, anything triggering this?
Sent from my G8141 using Tapatalk
I know a few Asian traders and one said it is some celebration over there similar to our yearly celebration and this is causing some effect. Much like happened about 3 weeks ago. Not sure how true. (They say people make big withdrawals to fund the celebrations as cash is given in red envelopes by tradition)Quote:
Originally Posted by Rhinoz
I am riding a big loss in TRX but its not a loss until I sell :-) Riding it out. Been here loads of times now. 9/10 wait approx 2 weeks and they bounce back.
To add, I also noticed yesterday that pretty much every exchange I could try have closed the doors for new registrations. Claiming they dont want to ruin the experience for existing users so closing the doors until they do servers upgrades.
All of them at the same time ????
They are claiming mass signups, perhaps its true and I could see how this could have an effect on prices if news of this went viral. ?!?!?!?
Just a thought.
Now's the time to buy surely?
I've not invested but was just keeping an eye on in case the price drops and as you say a good time to buy but looking at the overall crytocurrency in the last 24hrs just seems a little like something going on.Quote:
Originally Posted by ilscuro
Like Piggzy said could be something simple as a yearly festival and I did hear prices tend to drop in Jan but was surprised to see what seems like ALL prices.
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https://www.cnbc.com/2018/01/16/bitc...six-weeks.htmlQuote:
Bitcoin dipped to a six-week low Tuesday, as investors monitored warnings from regulators and reports of an escalated crackdown on the cryptocurrency market in China.
I don't know how you'd begin to estimate where the bottom is, it sounds like spooked investors like you get in all money markets but "regulators" and "crackdown" don't sound great. Could be an organised drop to take the over leveraged out.
Had my eye on the charts today on etoro and after a slight recovery they seem to be falling again, Ripple down 30% but Ripple increased 12-fold since mid-December so it might not bounce too high and this could be a re-rating. Interested to hear the views of those who understand it more, I know some people who dabble but tbh it sounds like they buy low value alts and hold them hoping they follow the success of other cryptos.
Remember that at the moment ALL Exchanges trade alts against BTC, some also Trade against ETH but almost nothing else atm
So if BTC drops it has a knock on effect usually on most Alts, only the stronger ones resist this trend. However many exchanges have said they plan to do more alternative coins as the trading coin. XMR already added to one and more announced.
This should help change the issue of BTC always having a knock on effect.
It doesn't always happen that way, occasionally the alts fight BTC's drop but it isn't common. Typically BTC rises then a couple of days or less and the alts start to show the same pattern.
ATM imho the biggest money to be made is in the alts but it is risky, as Mr Satan above said Ripple's 12 fold increase was crazy, I was late but managed to get some profits from it but was only about 4 fold, still happy with that. You seem to get much less chances of those percentages in Bitcoin and Ethereum now. I missed that party. Well actually I didn't but like many others didn't keep track of some bitcoin I had about 8 years ago. Not talking about that one :-)
Watching TRX, NEO, OMG and XMR for now also STELLAR has my intrigues and ADA/Cardano I think will be massive. Just look at the team. It is Ethereum 2.0 imho, without the bugs issues and loads more features.
What is it your actually watching for? I'm thinking I may just buy some low value alts that have some potential (technically) and hold onto them. Not as a get rich scheme but more to satisfy my inner geek and if they go up in value great, if they don't it'd only be a token investment lost rather than any big money.
I try research the alts based on the Whitepaper/team/goal posts and their past. Have the delivered on time in the past (well actually none of them deliver anything on time, BUT how close were they)Quote:
Originally Posted by evilsatan
This is why I like ADA/Cardano
I watch tonnes of really fucking boring shit like this: Hoskins Cardano Video, boring but very informative. Hoskins was behind Ethereum, well one of them.
Also I am still learning the short term trading pattern watching of the Candles/wicks/volume, historical patterns, and signs to watch out for and interpret. Couldnt really comment much on that as like I said I am trying to learn it still and with a family it is as and when if you know what I mean.
Also Discord has a channel that tips off pumps and dumps very quickly. I don't use discord myself as it looked confusing as hell and I couldn't be bothered with another platform, so I get those tips via a friend. Its called the pump and dump channel or something similar.
Getting some low value alts is a good idea imho as I still think things are yet to explode. Just invest what you wouldn't care to lose. Even putting ?50 on 4 different alts could give great results in 6 months time. Or ?500 ;-)
I keep sayin I'll look into it when I get time but that time never comes! Interesting that you use charts, I thought chartists did well in normal markets as they can track patterns that the automatic trading algorithms use but I didn't realise it worked on crypto or perhaps some people have deployed the same algorithms on those too. Obviously charts don't take into account news or external factors.
You are right. Charting is a bit different in crypto, but there are some things that can be learned and used to your advantage, just not as much.Quote:
Originally Posted by evilsatan
I could be wrong, but am seeing some patterns and "time windows" for want of a better term. e.g. 4 hour patterns in BTC
Worth a watch for crypto buddies : VIDEO
FYI not saying the above video is an amazing idea. Just an interesting concept. Could be good. Just a new thing I watched lol
If you look at the BTC chart for the last few years in 1 week view you can see the Dec rise/January fall pattern for BTC dipping 2nd/3rd week of Jan for each of the last few years. https://uk.tradingview.com/symbols/BTCUSD/ (Free platform for reading charts)
Never gone that far back TBH when trying to read charts but when it was pointed out is it a fairly consistent cycle.
The other 10 months of each year are still a 'kin mystery to me though :)
Woke up to this yesterday morning. Knew it was an error on the app but that'll do nicely. By the time I'd got into work normal service had been resumed. Billionaire for an hour :)
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Recovered a lot today for my losses anyway. Not all coins. Might not be over yet though , sometimes you get a second dip as part of the head and shoulders formation on the graphs.
Not a given though. Although I could sell out now with pretty much no losses I am confident in my coins and will HODL as I am pretty sure within 2 weeks I will be smiling again.
Financial bubbles are nothing new.
This site provides an interesting chart which suggests another smaller drop is still due. https://www.forbes.com/sites/jesseco.../#64007d5036b8
The big thing which makes me wonder whether this will follow the path of previous bubbles or not is that fact that this stuff is all unregulated (for now anyway).
Another article I read (I think was also on Forbes, it was a major financial institution anyway) basically said that in the UK and to a lesser degree the US it is currently completely unregulated because they still cant decide whether crypto currencies are classed as a Currency or a Commodity it said until this is determined through the courts which they expected to take upto 10 years, nothing much will change due to our laws. Until this is determined it is to difficult for it to be regulated without the UK breaking its own laws, also it needs to be determined for tax purposes.Quote:
Originally Posted by Over Carl
I hope that takes as long as possible. That is how it is still possible for me to trade (to a certain degree) completely anon. When this loop hole is closed ALL exchanges would be required to ask for ID when you are a UK resident. Some already do, but this is only required by law if it involves fiat and there are ways around that.