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Current Market Conditions - General Discussion

JaCrispy

Big drops rights across the board.....the top 20 are a showing a sea of red. Even crypto poster boy BTC is falling back towards the $5k mark. Doing a bit of reading around but no general consensus.

Some reasons?

People cashing in on profits?

Chief of Ripple Japanese exchange getting arrested for fraud?

Brazil Central Bank Chief Compares Bitcoin to Pyramid Scheme?

Just the general rollercoaster ride that is crypto?

If altcoins are your thing, I think NEO, XMR and OMG look very tempting.

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machiavellianme

dextadave wrote: »

jesus the alts are hopping today, looks like i should have grabbed a few, haev some fiat locked and ready to go for the next two weeks
just been caught up so much lately

Are they though? Most aren't even back to the level they were at 7 days ago.
Maybe if you'd bought on the nadir two days ago you'd be up a bit, but nothing to write home about (yet

)

will56

Does anyone think that the Alt coins will reach valuations similar to Bitcoin ?

Putting some small extra cash into alts and BTC each month but is there any that realistically are going to hit valuations similar to BTC or even ETH ?

Has the ship sailed on making early retirement money :-) ?

JaCrispy

Well that alt revival was very short lived, to say the least. Generally, the HODL philosophy really cannot be understated.

ToxicPaddy

Yeah just looking across the board, pretty much every one has dipped today.

Anyone any ideas why?

SkySter

ToxicPaddy wrote: »

Yeah just looking across the board, pretty much every one has dipped today.

Anyone any ideas why?

Bitcoin Gold has turned out to be a bit of a non-event. Apparent lack of support from Wallets and Exchanges. Poor
transparency and responses from the Developers.

So are people still holding onto their BTC and seeing what happens with Segwit2x later in November?

The One Doctor

SkySter wrote: »

Bitcoin Gold has turned out to be a bit of a non-event. Apparent lack of support from Wallets and Exchanges. Poor
transparency and responses from the Developers.

So are people still holding onto their BTC and seeing what happens with Segwit2x later in November?

I got an email from Coinbase this morning basically saying "Bitcoin Gold? Not a chance!" Since I have everything (err... €470) with CB, this seems a sensible move.

I'm tempted to buy another €300 when BTC drops to €4500, any opinions?

TheJackAttack

The One Doctor wrote: »

SkySter wrote: »

Bitcoin Gold has turned out to be a bit of a non-event. Apparent lack of support from Wallets and Exchanges. Poor
transparency and responses from the Developers.

So are people still holding onto their BTC and seeing what happens with Segwit2x later in November?

I got an email from Coinbase this morning basically saying "Bitcoin Gold? Not a chance!" Since I have everything (err... €470) with CB, this seems a sensible move.

I'm tempted to buy another €300 when BTC drops to €4500, any opinions?

What makes you think it's going to 4.5k?

The One Doctor

TheJackAttack wrote: »

What makes you think it's going to 4.5k?

Trend is fairly sharply down, unusually so. Other than that I'm guessing.

JaCrispy

ToxicPaddy wrote: »

Yeah just looking across the board, pretty much every one has dipped today.

Anyone any ideas why?

I guess people just cashing out on the alt gains.

dextadave

I think its people cash out also, a lot of people are getting smarter on the cycles when forks come up,
Then again buying btc at 6k in the hope of free btc gold is kinda pointless as they both fall after the fork

Your better looking for an alt that keeps a steady ish price buy it on the dip before a btc event, and sell straight after when people come running for the alts again

People get too caught up in what btc is doing i think anyways

pro_gnostic_8

SkySter wrote: »

So are people still holding onto their BTC

Of course !

Yeah, Bitcoin -- at current $5660 -- shows a dip of 0.2% over the past 24 hours.
Over the past month, Bitcoin is up 43%
Over the past year, Bitcoin is up 690%

Lets keep it real, fella's, FFS.

ZeroThreat

btw anyone know what the hell 'Xenon' is?

I was in myetherwallet and clicked on 'ethplorer' link. It shows 3 tokens, civic , omg (both of which I bought a small amount), and over 900 of something called xenon...

dextadave

I understand its marching..... what im talking about is people shorting their alts for btc its latest push is to do with the fork

I see people selling everything for btc in the hope of gaining on the fork coin i dont see the point really.

I just wouldnt sell my alts for hopes of big gains on btc

pro_gnostic_8

dextadave wrote: »

what im talking about is people shorting their alts for btc its latest push is to do with the fork

I'm not sure that small-gamers selling their small stashes of alts to buy even smaller bits of BTC is the causation of the ever-increasing price of Bitcoin. It's more fundamental than that -- wider adoption/recognition, belief in the potential, in-flood of institutional/whale-investor money, etc etc. Sometimes we kid ourselves that it is us minnows with our paltry-ass trading on inconsequential exchanges that determine the pricing of Bitcoin. We don't.

I just wouldnt sell my alts for hopes of big gains on btc

That kinda contradicts your "what im talking about is people shorting their alts for btc", no ?

ToxicPaddy

SkySter wrote: »

Bitcoin Gold has turned out to be a bit of a non-event. Apparent lack of support from Wallets and Exchanges. Poor
transparency and responses from the Developers.

So are people still holding onto their BTC and seeing what happens with Segwit2x later in November?

Everything I read up to this week about Bitcoin gold seemed to indicate it was never gonna take off due to the obvious lack of backing for it by the major exchanges etc. It was hardly a surprise, so I'm wondering why the markets reacted like this tbh

dextadave

Im talking about other people selling, how is me stating i would'nt sell mine own alts contradicting myself

I understand you pro btc as am I, but people above were trying to figure the quick moves in the alt market the last few days
Im just giving my view on it and how i trade them to make money, im not telling anyone to follow my advice each to their own

And im sure each of us minnows make a difference take us all away and im sure things would be different

covfefe

ToxicPaddy wrote: »

Yeah just looking across the board, pretty much every one has dipped today.

Anyone any ideas why?

My best guess would be that they aren't Bitcoin.

I think it's a little bit dangerous that the prevailing advice here seems to be buy whatever coin you fancy and then hold it until you make a profit.

That approach is in no way guaranteed to work.

A lot of people got involved in this space earlier this year so all they have seen is rising prices for almost every coin, I think it's very possible that for a lot of these coins the hold strategy will turn out to be a costly one for investors.

Also, for the altcoins that you are purchasing, do you use them in any way? Where can they be used? What makes them better than Bitcoin? These tend to be questions I ask myself when looking at alts and I almost always end up buying more Bitcoin.

KilOit

covfefe wrote: »

A lot of people got involved in this space earlier this year so all they have seen is rising prices for almost every coin, I think it's very possible that for a lot of these coins the hold strategy will turn out to be a costly one for investors.

I only hold ETH, Neo and ark long term for stalking purposes. All other coins I sell off, if I buy a 100 coins for 100sats each I'll sell 20 coins for 125sats another 20 coins for 150sats till I have only 10-20 coins left in case in moons in price but basically my original investment is safe.
It's just too risky to buy coins and hope theyre the next ETH and hold them through all the dips etc

JaCrispy

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

ZeroThreat

JaCrispy wrote: »

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

Again? I thought that rumour was circulating about a month ago before being quashed....

Bandara

JaCrispy wrote: »

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

Coin telegraph is generally accepted to the equivalent of the Sun Newspaper when it comes to Crypto reporting

Without the page three part !

will56

JaCrispy wrote: »

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

Hard to see how BTC could be used by Amazon at the moment given the huge instability in the market ?

JaCrispy

Improvements across the board. Hopefully see a sustained growth period. Rumours circulating that China are about to lift the trading of BTC, which is probably partly responsible for the upturn.

ToxicPaddy

Interesting to see the Russian approach in attempting to control all things Crypto.

https://www.cryptocoinsnews.com/putin-approves-framework-for-ico-regulation/

I know a lot of this is to try and control the flow of money in and out of Russia and also pave the way for the Crypto Ruble

https://www.cryptocoinsnews.com/putins-orders-russia-will-national-cryptocurrency-cryptoruble/

Do anyone think other countries such as China and possible the US will try to follow suit in any shape and form?

BorneTobyWilde

So If one is a novice and has 5k to invest what would the experts recommend ?

at9qu5vp0wcix7

BorneTobyWilde wrote: »

So If one is a novice and has 5k to invest what would the experts recommend ?

Do you have access to a time machine? :pac:

ZeroThreat

ToxicPaddy wrote: »

Interesting to see the Russian approach in attempting to control all things Crypto.

https://www.cryptocoinsnews.com/putin-approves-framework-for-ico-regulation/

I know a lot of this is to try and control the flow of money in and out of Russia and also pave the way for the Crypto Ruble

https://www.cryptocoinsnews.com/putins-orders-russia-will-national-cryptocurrency-cryptoruble/

Do anyone think other countries such as China and possible the US will try to follow suit in any shape and form?

Dimoncoin, 'The Bankers Coin'.

BorneTobyWilde

Alex Putrid Thermometer wrote: »

Do you have access to a time machine? :pac:

1.21 gigawatts
Would 5,000 of bitcoin at this point be a good investment, or would another cryptocurrency be an option. What is available cheap that will be worth 10,000 times its value in 5 year.

ToxicPaddy

ZeroThreat wrote: »

Dimoncoin, 'The Bankers Coin'.

nah we have one for him already

Titcoin

:D:D:D

ZeroThreat

ToxicPaddy wrote: »

nah we have one for him already

Titcoin :D:D:D

This is probably more appropriate.

https://coinmarketcap.com/currencies/wankcoin/