Is anyone else starting to become a bit worried? mod note in first post

fran426ft

Some big buys just coming.....finally. I hope they can gain momentum.

Wanderer78

drunkmonkey wrote: »

Not half as scary as my chart is telling me buy don't buy into bitcoin until it hits 1k and then hold.
February is going to be carnage looking at the charts. There was nothing to back up the rise last year the price was only increasing because the price kept increasing.
A major correction is a good thing as it's gone way out control and it's use as a currency is completely lost. If it becomes cheap again and confidence grows it'll be great for crypto in the long term, Bitcoin has done it's job it's woken people up to a new technology. Now everyone wants one. A major correction will make that possible.

Bitcoin at 1k will have everyone interested and if thursday in Lidl is anything to go by we'll all be buying the bitcoin sale.

or has it wrecked its own chances? i do expect a big correction at some stage, and that could be the nail in the coffin, it ll be hard to gain confidence in it as a currency after that, but strange things do happen. it certainly has woken people, including myself, central banks need to get their act together, confidence is being slowly lost in the fiat system.

seannash

fran426ft wrote: »

Some big buys just coming.....finally. I hope they can gain momentum.

America waking up

Tinder Surprise

fran426ft wrote: »

Some big buys just coming.....finally. I hope they can gain momentum.

I am seriously pessimistic at this stage and have a feeling Feb is going to be an absolute blood bath.

my guess is that we will see ~70% correction from the Dec highs and even more for some ****coins

there is a massive correction being played out here in front of our eyes - its hurting but it will bring massive opportunity too. I'm contemplating taking some serious losses on the chin here just to consolidate and up the numbers on the more proven coins for the longterm, or is that a flawed tatic, anyone?


edit:please dont take this as FUD ..just my personal opinion

seannash

Tinder Surprise wrote: »

I am seriously pessimistic at this stage and have a feeling Feb is going to be an absolute blood bath.

my guess is that we will see ~70% correction from the Dec highs and even more for some ****coins

there is a massive correction being played out here in front of our eyes - its hurting but it will bring massive opportunity too. I'm contemplating taking some serious losses on the chin here just to consolidate and up the numbers on the more proven coins for the longterm, or is that a flawed tatic, anyone?

That's also my tactic, I dont think people can hold off much longer before selling even if it is at a loss

smacl

Tinder Surprise wrote: »

I'm contemplating taking some serious losses on the chin here just to consolidate and up the numbers on the more proven coins for the longterm, or is that a flawed tatic, anyone?

Similar enough, though not that serious losses as my total investment isn't so big. Certainly holding onto all of the alts that I find attractive long term with the expectation that some will get wiped out and others may do well. I'm also keeping some fiat on Kraken with an eye to investing again once things settle out. I wouldn't be surprised to see a correction to late summer / early autumn levels last year and think this could actually be a good thing and provide a platform for more steady growth going forward. Pure speculation as a crypto-noob though.

jester77

Dades wrote: »

So is it just Monday or why has everything gone to hell in a handbasket?

Will is get worse when the Americans wake up?

The markets are at the same level they were 2 months ago, December was just a crazy month. People should just zoom out a little bit in their charts, it is not anywhere near as bad as some people are making out.

seannash

jester77 wrote: »

The markets are at the same level they were 2 months ago, December was just a crazy month. People should just zoom out a little bit in their charts, it is not anywhere near as bad as some people are making out.

It all depends on when you bought in though.

ZeroThreat

seannash wrote: »

It all depends on when you bought in though.

lol yeah, the first things I bought in crypto were Bitcoin, Eth and Litecoin, NEO in September which are all still way up. Being burned on alts I bought this month though, such as DBC, XRB, TNC, INT, ICX

Made a 14x gain on the relatively small amount of XRP I sold off at the height though.

lifeandtimes

Check out @Goat08375261’;s Tweet: https://twitter.com/Goat08375261/status/960236795584753664?s=09

Wanderer78

lifeandtimes wrote: »

Check out @Goat08375261’;s Tweet:

jaysis come on will yea, john McAfee!

step away from the internet, for your own good!

Tinder Surprise

Wanderer78 wrote: »

jaysis come on will yea, john McAfee!

step away from the internet, for your own good!

Is he still gonna eat his penis if BTC is not valued at a $million come 2020?

JohnnyFlash

John Mcafee, meme videos, lambo etc all show how silly this get rich quick scam is.

Bob24

jester77 wrote: »

The markets are at the same level they were 2 months ago, December was just a crazy month. People should just zoom out a little bit in their charts, it is not anywhere near as bad as some people are making out.

The difference is that 2 months ago most coins were on an upwards trajectory and now they are on a downwards one. In a few days you might have a to zoom out a bit more and talk about 3 or 4 months ago to keep saying the long term view is positive.

I’m not in any way claming I know what will happen, there could be a rebound. But for sure gauging the situation is not just about market value but also about current trajectories and from that perspective the situation is different from what it was 2 months ago.

lifeandtimes

Wanderer78 wrote: »

jaysis come on will yea, john McAfee!

step away from the internet, for your own good!

The Simpsons video is so good

Wanderer78

lifeandtimes wrote: »

The Simpsons video is so good

the Simpsons is indeed great, but dont get too caught up in all this crypto stuff, its just another bubble

JohnnyFlash

Bitcoin dropped below 7500 in seconds there. No resistance at all. Big sell orders flying in. Three large wallets transferred all coins over to exchange in the past hour. Could drop 25% today Alone. Wow!

Truth wins

I could say cash everything out but than the market may shoot up so there is no right or wrong answer. Play around with what suits you best. If the loss will badly hurt, than cash out and if not than take the risk as the market may go up again in new few months.

this tether bitfinex market manipulation has really spooked things and this fear coupled with the fake tether market support being gone.... serious combination.

JohnnyFlash

At what price does bitcoin mining become unprofitable? We all know its an environmental disaster, but I presume some of the big farms in China are skimming the e;evtricity off the grid somehow??

At times like these you have to ask yourself whether bitcoin is undervalued or overvalued.

You want to ask and answer questions including:

• What is Bitcoin FOR?
• What is unique and specific about Bitcoin that can't be copied or replicated by some other 'currency'?

The answers will tell you what to do.

LastLagoon

[Deleted User] wrote: »

At times like these you have to ask yourself whether bitcoin is undervalued or overvalued.

You want to ask and answer questions including:

• What is Bitcoin FOR?
• What is unique and specific about Bitcoin that can't be copied or replicated by some other 'currency'?

The answers will tell you what to do.

It’s going back to sub $10 where it belongs

Bob24

JohnnyFlash wrote: »

At what price does bitcoin mining become unprofitable? We all know its an environmental disaster, but I presume some of the big farms in China are skimming the e;evtricity off the grid somehow??

I don’t understand the details of the block chain but that is what I always wondered. To keep the system going you need enough buyers for mined coins so that mining remains profitable. That is fine in a fairly stable market with a reasonable amount of ledger updates, or in a Bull market with loads of updates but an ever increasing retribution for processing them as prices go up. But what happens if there is massive sell-off and miners start pulling the plug because it is not worth their while anymore? (Many transactions to process but ever reducing retribution for doing so). The only solution I can think of is to give them more coins for processing transactions so that they can maintain their income level, but is that not some type of technical devaluation which will exacerbate the price drops? (i.e. digital money printing to pay for keeping the system afloat)

draiochtanois

This post has been deleted.

Kenny Logins

Bob24 wrote: »

I don’t understand the details of the block chain but that is what I always wondered. To keep the system going you need enough buyers for mined coins so that mining remains profitable. That is fine in a fairly stable market with a reasonable amount of ledger updates, or in a Bull market with loads of updates but an ever increasing retribution for processing them as prices go up. But what happens if there is massive sell-off and miners start pulling the plug because it is not worth their while anymore? The only solution I can think of is to give them more coins for processing transactions so that they can maintain their income level, but is that not some type of technical devaluation which will exacerbate the price drops? (i.e. digital money printing to pay for keeping the system afloat)

I could be wrong but I think when the rewards decrease larger miners will switch to more profitable coins, Bitcoin difficulty will drop accordingly, and then smaller miners will start up again.

Mongfinder General

The game is up. Get rid now.

Tinder Surprise

someones found them-self

smacl

Mongfinder General wrote: »

The game is up. Get rid now.

Last week it was all



This week it is all



I preferred the previous apocalypse warnings courtesy of Brendan's fresh meat counter, now featuring BBQ pig. You new naysayers have no class :pac:

Manic Moran

I have to say, this drop is certainly starting to get a little tiresome. Every time I think it is over and I should buy more, it drips again.

Well, at least I'm still up over last year. Oddly, my MGO has gone up the last 24 hours. Not by much, but it's the only green I have

nuac

Wanderer78 wrote: »

jaysis come on will yea, john McAfee!

step away from the internet, for your own good!

This a discussion Board on a fast-moving market. We are all entitled to have opinions, and to express them.