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The mkiv Supra Owners Club

Cryto Currency


Jellybean

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Ha :)

It's just a market cycle, it's happened a few times over now and undoubtedly will happen a few times more. Every time no-coiners smugly proclaim bitcoin is dead and it never is.

A lot more people and money in it this time around though, bigger bubble to deflate. Hard to know where it'll bottom really - can only speculate by looking at charts / market sentiment / fundamentals and upcoming catalysts, like bakkt.

Edited by Marty (see edit history)
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Previous bear market took 400days before the bottom was in, then another 270days of ranging before actually turning a little bullish. Took another 500 from then to break previous all time high.

In comparison we are about 340days in to this one.

This time will be different though right? I mean it could be, but market cycles are market cycles at the end of the day.

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  • 2 weeks later...
Really? Why? I think we are reaching capitulation and when we finally do, it will take another dive.

 

I’m just reminiscing on all the early 2018 predictions of ETH hitting all time highs of $5000+ only to see it where it is today.

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Except now we have a lot of people who (foolishly, in my opinion) bought in when it was hovering around $1000 and now they are sat on 10% of the value they put in. That's a huge amount of negativity and it will stop your average joe buying in, there is no external money buy pressure (like there was this time last year). It's a lot easier for it to collapse than it is to go parabolic again, particularly bearing in mind that this market is almost entirely speculation. I would not be surprised at all if we saw ETH down at $60 before this is over. That is an opportunity to make a lot of money in the next few years, anyone expecting a repeat of late last year any time soon is delusional. We may see a new all time high, but if we do, I reckon it will be in years. The days of making quick fortunes are over for now, just accumulate while it's cheap and wait. The best thing about this will be all the crap coins disappearing, so pick your projects carefully and keep a decent portion of your portfolio in the bigger players.

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  • 2 weeks later...

1st time I’ve actually made a healthy profit in almost a year, I’m delighted.

Executed my order at $4k and now wait for the retrace back down to $3500-3550 maybe.

That said, still a bullish sentiment in the air with many hoping for another leg up towards $4500-5k before a dump.

 

Your thoughts

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Nothing bullish about anything really, there's still zero incentive to buy. Like Sheefa said it's a bear trap, people will FOMO in and suffer the consequences if they don't get back out in time.

 

Should have said ‘FOMO’ instead of bullish, either way there’s opportunities there.

Biggest mistake of 2018 for me as a novice/newbie, was being advised to HODL [emoji1750]^[emoji3603]

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Biggest mistake of 2018 for me as a novice/newbie, was being advised to HODL [emoji1750]^[emoji3603]

The biggest mistake was buying it. :D

 

I'm expecting renewed interest in Crypto depending on what happens with this Brexit fuck up. Getting my money out of UK stocks/currency/bonds feels like a good idea right now.

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Should have said ‘FOMO’ instead of bullish, either way there’s opportunities there.

Biggest mistake of 2018 for me as a novice/newbie, was being advised to HODL [emoji1750]^[emoji3603]

Hindsight is a wonderful thing. HODL is definitely the right strategy unless you're a trader, have done FX course and the like and understand TA, albeit even that doesn't make much sense sometimes for cryptos! Ultimately if you believe in the tech behind each crypto then invest in those and stick to your guns, that's what I've done. I really do believe in NEO so still have all my substantial holdings despite being down 90%. I'll top up gradually too.

 

It's easy to make a few ££ here and then trading cryptos, FAR easier to wipe all profits out and more by making the wrong call.

 

 

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