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

jester77

Just looking at DAI, it really is performing well and keeping steady considering how crazy the market is. That's impressive.

99 Bortles of Beer

Don't worry guys, it's Friday. People traditionally cash out on Fridays to buy supplies for the weekend.

Right?

........Right?

turbot

The guidance I was always given was:

(1) Don't invest any amount you can't afford to lose
(2) There is a chance you'll lose all your money
(3) There is a chance your investment will appreciate very significantly
(4) Pay attention and plan to HODL

And between some friends and I, we figure that only 5% of the Altcoin projects will still be around in 5 years.

In this regard, Cryptos and especially Alt coins are not dissimilar to being an angel investor in a bunch of new startups.
1 in 5 or 1 in 10 might work out so well that even if none of the others go anywhere, you still do ok.

But for sure, 2018 is going to be different than 2017.

Suffice to say, lots of people used credit to find crypto-purchases in late 2017. IMO, that is a higher risk life tactic versus an investment tactic.

makeorbrake

99 Bortles of Beer wrote: »

Don't worry guys, it's Friday. People traditionally cash out on Fridays to buy supplies for the weekend.

Right?

........Right?

$200 Billion worth of supplies based on the entire crypto market as a whole over the last couple of days. That's some weekend of supplies. High Class Hookers n' Coke? Must be a hell of a weekend

ZeroThreat

I guess the US has woken up and further added to the carnage.

fran426ft

Cashed out my ETH, everything else has no quick exit to fiat and ETH was my biggest asset. If it finds a bottom I might buy back to recoup some loses but this "correction" only seems to be gaining momentum right now.

99 Bortles of Beer

makeorbrake wrote: »

$200 Billion worth of supplies based on the entire crypto market as a whole over the last couple of days. That's some weekend of supplies. High Class Hookers n' Coke? Must be a hell of a weekend

Well, it is Super Bowl weekend :pac:

DANNY2014

It's basically like Harvey Norman the big sale just never ends....😂

fran426ft

fran426ft wrote: »

Cashed out my ETH, everything else has no quick exit to fiat and ETH was my biggest asset. If it finds a bottom I might buy back to recoup some loses but this "correction" only seems to be gaining momentum right now.

Ah F**k did I just sell at the botom

seannash

fran426ft wrote: »

Ah F**k did I just sell at the botom

Dead cat bounce possibly, We've seen a few

Kenny Logins

seannash wrote: »

Dead cat bounce possibly, We've seen a few

Pretty big bounce for a dead cat. Must be some life left in it. :pac:

TheSheriff

Woke up about an hour ago (I live in the US), Jesus, what happened overnight ??

I am extremely close in value now to my initial investment, if it hits that I am getting out

drunkmonkey

Steady lads things move up, things move down, Etherum is rebounding on volume by the looks of it, recovered from $768 to $950.

seannash

Kenny Logins wrote: »

Pretty big bounce for a dead cat. Must be some life left in it. :pac:

Not really, yesterday someone called bottom because there was green on the hourly charts and today it drops again. It went from 7800 to 8480 now so not much of a bounce up for today

Dohnjoe

Squozen wrote: »

Yep. I’ve eaten the (significant) loss and cashed out. Good luck to the rest of you.

From personal experience (and this is my own opinion) over the last 5 years in crypto it is never wise to sell at a loss

a) it suggests that someone had more in that they were willing to lose (bad)
b) except for a few coins that bombed, the market has shown us nothing but overall gains for 7 years up until very recently
c) if the coins you sold grow 10 times or 100 times in the future, there will be significant regret
d) compare the market prices now to market prices this time last year

Again, and this is only my personal opinion, but loss-selling in a sharp dive is not a wise long-term decision based on the info/market history we have

For anyone else sitting on the fence about entering crypto - now is potentially a good time to start looking at it, possibly over the next few weeks. The very worst time of course is when everyone is talking about it and gains are vertical, but you simply cannot tell people this

dubrov

Dohnjoe wrote: »

From personal experience (and this is my own opinion) over the last 5 years in crypto it is never wise to sell at a loss

a) it suggests that someone had more in that they were willing to lose (bad)
b) except for a few coins that bombed, the market has shown us nothing but overall gains for 7 years up until very recently
c) if the coins you sold grow 10 times or 100 times in the future, there will be significant regret
d) compare the market prices now to market prices this time last year

Again, and this is only my personal opinion, but loss-selling in a sharp dive is not a wise long-term decision based on the info/market history we have

For anyone else sitting on the fence about entering crypto - now is potentially a good time to start looking at it, possibly over the next few weeks. The very worst time of course is when everyone is talking about it and gains are vertical, but you simply cannot tell people this

"Never sell at a loss". Ha ha, good luck with that one.

Let's face it, there is no new money coming into crypto at the moment.
The only people buying are those that previously sold at higher levels.
Many were trading on margin and have been forced to close their positions.

I can see Bitcoin slowly drifting down for a while with a few bumps along the way.

draiochtanois

This post has been deleted.

mrDerek

People getting out now are for sure going to regret it before long

seannash

Dohnjoe wrote: »

From personal experience (and this is my own opinion) over the last 5 years in crypto it is never wise to sell at a loss

a) it suggests that someone had more in that they were willing to lose (bad)
b) except for a few coins that bombed, the market has shown us nothing but overall gains for 7 years up until very recently
c) if the coins you sold grow 10 times or 100 times in the future, there will be significant regret
d) compare the market prices now to market prices this time last year

Again, and this is only my personal opinion, but loss-selling in a sharp dive is not a wise long-term decision based on the info/market history we have

For anyone else sitting on the fence about entering crypto - now is potentially a good time to start looking at it, possibly over the next few weeks. The very worst time of course is when everyone is talking about it and gains are vertical, but you simply cannot tell people this

Selling at a loss can sometimes work if it allows you to increase your stake.
I'm sure selling at 10k and buying back in at 8k would be more beneficial.(Obviously it depends on what you initially bought in at)

I think we all know that risking more than you can afford to lose is bad so I wouldn't preach about it, I'm sure people are feeling bad enough as it is.
As for selling now only to discover in 10 years time its worth 100x the price, well I think even the most unsavvy investor would say that's a no brainer in terms of regret

makeorbrake

mrDerek wrote: »

People getting out now are for sure going to regret it before long

There's no 'for sure' in this world...and specifically the crypto world.

Dohnjoe

dubrov wrote: »

"Never sell at a loss". Ha ha, good luck with that one.

Have never sold at a loss. Neither have most of my friends/colleagues who hold. That's the point I am making. To date: long term holding has produced significant gains despite various crashes - on aggregate most coins have increased

Traders can make significant amounts playing the market, however I am not a trader, nor would I ever try to compete with them. If a layperson wants to "have a flutter" and try to buy and sell.. good luck to them

No one has a crystal ball, no one knows what will happen next - what we do know is what the market has done before and what we do know is that most long term holders have been rewarded well

Sleeper12

A currency that isn't recognised by a lot of governments. A currency that has absolutely nothing to back it up as real currency has. Gold, oil etc. A currency who's value is set 100 percent on pure speculation.

What's there to be worried about?

Squozen

All I know is that I took the money I had in bitcoin and put it into the S&P 500 and I'm feeling one hell of a lot calmer. I am not a good gambler!

Tinder Surprise

Sleeper12 wrote: »

A currency that isn't recognised by a lot of governments. A currency that has absolutely nothing to back it up as real currency has. Gold, oil etc. A currency who's value is set 100 percent on pure speculation.

What's there to be worried about?

I hear ya!....but the genie is already out of the bottle.

Some folk have made a killing from crypto and don't you worry they'll be back.

Crypto is going nowhere.
Still in its infancy and the more of the reputable companies get to show their wares on the blockchain then the less volatility we will see thus the more eyes will be opened to its potential.

SureYWouldntYa

Squozen wrote: »

All I know is that I took the money I had in bitcoin and put it into the S&P 500 and I'm feeling one hell of a lot calmer. I am not a good gambler!

And if a stock market crash came you'd wished you put it in a deposit account

No risk no reward

Sleeper12

Tinder Surprise wrote:

Crypto is going nowhere. Still in its infancy and the more of the reputable companies get to show their wares on the blockchain then the less volatility we will see thus the more eyes will be opened to its potential.

Problem is most investors even, don't use the currency.

There will be a lot of money made & lost before it all ends in tears. The thing is to try to be one of the winners.

Too risky for me. Biggest risk I took washing buying BOI and AIB shares for a few cent & selling them for euros.

Squozen

SureYWouldntYa wrote: »

And if a stock market crash came you'd wished you put it in a deposit account

No risk no reward

Difference is that over time the stock market always recovers. Bubbles don't. As I can't be sure which this is, I'm no longer willing to gamble.

drunkmonkey

Sleeper12 wrote: »

A currency that isn't recognised by a lot of governments. A currency that has absolutely nothing to back it up as real currency has. Gold, oil etc. A currency who's value is set 100 percent on pure speculation.

What's there to be worried about?

Real currency has nothing to back it up either https://money.howstuffworks.com/currency7.htm

EagererBeaver

Sleeper12 wrote: »

Problem is most investors even, don't use the currency.

There will be a lot of money made & lost before it all ends in tears. The thing is to try to be one of the winners.

Too risky for me. Biggest risk I took washing buying BOI and AIB shares for a few cent & selling them for euros.

Forex traders don't use the currency either. They hold it, or they trade it.

mrDerek

makeorbrake wrote: »

There's no 'for sure' in this world...and specifically the crypto world.

I think it's a safe bet the market will go up from here so yeah I think it's a for sure call crypto isn't just gonna call it a day