Mo Reviews Posted February 17, 2020 Share Posted February 17, 2020 The dump from $10,500 on 13 Feb. There was a clear rising wedge forming on the daily chart and it was clear that it was going to break down from there. Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 17, 2020 Share Posted February 17, 2020 (edited) I don't think there's anything clear on crypto charts to be honest Edited February 17, 2020 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted February 17, 2020 Share Posted February 17, 2020 The vast majority of it is noise. If you're able to filter the noise out, it becomes pretty predictable. Especially the "bart" type moves. Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 17, 2020 Share Posted February 17, 2020 (edited) The vast majority of it is noise. If you're able to filter the noise out, it becomes pretty predictable. Especially the "bart" type moves. If it was wouldn't you be a very wealthy chap, of course i'm assuming your not Edited February 17, 2020 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted February 17, 2020 Share Posted February 17, 2020 If it was wouldn't you be a very wealthy chap, of course i'm assuming your not Nothing is 100%. Though, some people have made billions playing this game. This is little more than a weekend 'gamble' game for me... Quote Link to comment Share on other sites More sharing options...
Style Posted February 17, 2020 Share Posted February 17, 2020 We're due a halving soon aren't we? IIRC that usually brings a bit of a sell off before it happens Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted February 17, 2020 Share Posted February 17, 2020 Yes indeed. The last two times it happened we also hit ATHs. Be very wary of elaborate bull traps and FOMO though. Quote Link to comment Share on other sites More sharing options...
Style Posted February 17, 2020 Share Posted February 17, 2020 Yeah those will be even more prevalent this time around I reckon after the amount of attention 2017 brought. I can't day trade to save myself so it's a case of just holding for me. Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted February 17, 2020 Share Posted February 17, 2020 Swing trading is the aim of the game, especially for long term hoarders... Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted March 12, 2020 Share Posted March 12, 2020 Coronavirus sale now on! Quote Link to comment Share on other sites More sharing options...
Dnk Posted March 12, 2020 Share Posted March 12, 2020 Time to buy Quote Link to comment Share on other sites More sharing options...
Dnk Posted March 13, 2020 Share Posted March 13, 2020 Sat up watching the markets wondering how low can it go Thought i'd buy in when Bitcoin dropped below $4000, i guess we'll see Quote Link to comment Share on other sites More sharing options...
Dnk Posted March 13, 2020 Share Posted March 13, 2020 Tomorrow Rodders lol Quote Link to comment Share on other sites More sharing options...
Dnk Posted March 13, 2020 Share Posted March 13, 2020 So in 20 mins its back over $5000 Quote Link to comment Share on other sites More sharing options...
Tabz Posted March 13, 2020 Share Posted March 13, 2020 I think it will drop some more yet. Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted March 13, 2020 Share Posted March 13, 2020 This volatility is awesome! Quote Link to comment Share on other sites More sharing options...
Dnk Posted March 13, 2020 Share Posted March 13, 2020 This volatility is awesome! Agreed, was quite amazing this morning and although i'm rather knackered now it was worth it Quote Link to comment Share on other sites More sharing options...
Scooter Posted March 13, 2020 Share Posted March 13, 2020 I still just sit here going what (TF) is Bitcoin, afaik no one actually uses it in the normal sense it just seems to be a place where people store money and play the market games that you are? Not knocking it but is it actually a useful thing or just like a currency and a storage of wealth? Investing in oil/gold/Apple etc you can make potentially considered choices and can rationalise the products/service, with bit coin it always seems to be about graphs and trend analysis etc. Note this is coming from someone who has (arguably pointless!) cash isa's for the last 'x' years, I feel that shortly I should just get some oil dividend paying stocks or something for the long haul (5-10 years), not trying to hit the bottom etc just that I'll be better served doing it in the year coming than last year? Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted March 13, 2020 Share Posted March 13, 2020 (edited) What's the value of traditional currency? Gold. Why is gold a store of value? Because it has a finite amount. If you apply the same logic to the digital world, you get Bitcoin. Having said that, I'm not really gambling on it becoming a globally accepted currency. For me personally, the aim of the game is diversification. If the traditional financial system collapses, the "money" you have at the bank will not be worth the paper it's printed on. So, in turbulent times, this is where investors will usually resort to gold as a store of value. As a prime example, considering the whole COVID-19 nonsense going on right now, look at the state of stock markets. Now there's another digital option; cryptocurrency, and specifically, Bitcoin. Beware though, it is much more volatile when compared to traditional markets and will catch you out if you're not careful; however, if you're switched on and have a lot of spare time on your hands, there is plenty of money to be made. Edited March 13, 2020 by Mo Reviews (see edit history) Quote Link to comment Share on other sites More sharing options...
Scooter Posted March 13, 2020 Share Posted March 13, 2020 I spose it's just that, gold is tangible/real it has decorative use and has been used for centuries but then the market gold is not specifically tangible as such as they sell more on paper than there is gold in existence so in effect you are just playing the market price game the same as bitcoin? Bitcoin being digital is to me the same as fiat currency in that it's a confidence based thing and could itself be worthless one day? I do find the whole thing a bit "emperors new clothes" after all you say that the money in the bank might one day be worthless and yet all the bitcoin etc gains we make we state how many pounds we've made and not how many bitcoin I now have (correct me if I'm wrong?). But then you can only play in the system/game that's in front of you and it you have the right risk attitude and knowledge time and effort you can obviously make some money! Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted March 13, 2020 Share Posted March 13, 2020 (edited) I try and separate my fiat money, Crypto money and physical investments. So I actually count my crypto profit in Bitcoin rather than in fiat currency. The same goes for my fiat money and physical investments. For example, I wouldn't say I have £50k in gold, I would say I have 1kg in gold. Everything is a speculative game. To actually diversify successfully, you need to keep everything truly separate. Trading cryptocurrency then valuing it in fiat isn't really diversifying anything. Edited March 13, 2020 by Mo Reviews Spelling. (see edit history) Quote Link to comment Share on other sites More sharing options...
Scooter Posted March 13, 2020 Share Posted March 13, 2020 Ah ok makes sense if you are treating it like that, I think a lot of folks play with bitcoin etc but always think of it as what I'll eventually get in £'s So you are just selling off high into fiat or another asset class temporarily, as you see the market at the time, to then buy back in later to try and gradually increase your overall bitcoin quantity. - - - Updated - - - Ah ok makes sense if you are treating it like that, I think a lot of folks play with bitcoin etc but always think of it as what I'll eventually get in £'s So you are just selling off high into fiat or another asset class temporarily, as you see the market at the time, to then buy back in later to try and gradually increase your overall bitcoin quantity. Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted March 13, 2020 Share Posted March 13, 2020 Ah ok makes sense if you are treating it like that, I think a lot of folks play with bitcoin etc but always think of it as what I'll eventually get in £'s So you are just selling off high into fiat or another asset class temporarily, as you see the market at the time, to then buy back in later to try and gradually increase your overall bitcoin quantity. - - - Updated - - - Ah ok makes sense if you are treating it like that, I think a lot of folks play with bitcoin etc but always think of it as what I'll eventually get in £'s So you are just selling off high into fiat or another asset class temporarily, as you see the market at the time, to then buy back in later to try and gradually increase your overall bitcoin quantity. Unfortunately, this is exactly the sort of social conditioning we have all been programmed to accept. We all need to be able to purge this mentality before we can become truly successful investors. Professional crypto traders will simply buy in to other crypto assets or sell in to USDT or TUSD or any of the many "stable coins" tethered to the dollar. Quote Link to comment Share on other sites More sharing options...
Dnk Posted April 7, 2020 Share Posted April 7, 2020 (edited) Time to buy I was right lol nice little earn since the 13th and still going Edited April 7, 2020 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted April 7, 2020 Share Posted April 7, 2020 I'll let you have that one! Quote Link to comment Share on other sites More sharing options...
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