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Is anyone else starting to become a bit excited?

q85dw7osi4lebg

As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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el diablo

I'm skeptical of reports of Johnny's untimely demise but if true- RIP.

cnocbui

Vroom...gurgle, gurgle...vrooom, vrooom, VROOOMMMMmmmm...........................

TRANQUILLO

Lex Luthor wrote: »

The funny thing is noobs will try to get in on the fomo and see the price of bitcoin at 17k or whatever and think no way can I afford that, nit knowing they don’t need to buy a full one

So they will most likely head down the list from top and see cheaper alternatives and think well if bitcoin can go from 1c to 17k, then maybe xrp can do something similar
Or another crypto

but my contention is that it only needs to go to 4 quid from its current 20 odd cents. id be gambling now on that fomo happening again so to speak.

q85dw7osi4lebg

TRANQUILLO wrote: »

but my contention is that it only needs to go to 4 quid from its current 20 odd cents. id be gambling now on that fomo happening again so to speak.

Yes, just a 1200% gain needed to get back there.

el diablo

XRP will never go past $3 again in my opinion. The Ripple Foundation have had plenty of success selling their software to banks etc but there is very little use case for their XRP token. And if the price does pump then the founders will dump a ****load of tokens on to the markets as they have been doing for a long time.
Fun fact: XRP is not a cryptocurrency. It's a pre-mined, centralised bankster token with an infinite supply.

;)

TRANQUILLO

Addison Fancy Macrame wrote: »

Yes, just a 1200% gain needed to get back there.

appreciate the responses guys. cheers

Truckermal

Only in from work I don't know what to say about Johnny but I'll miss him as I enjoyed him in other forums other than here...

Irish_rat

TRANQUILLO wrote: »

appreciate the responses guys. cheers

When btc dumps, money will move into the alts which will explode most of the low caps. The higher btc goes, the bigger the gain.

Just make sure to take your profits before the alt dump.

q85dw7osi4lebg

RIP

ZeroThreat

Irish_rat wrote: »

When btc dumps, money will move into the alts which will explode most of the low caps. The higher btc goes, the bigger the gain.

Just make sure to take your profits before the alt dump.

Maybe that happened once back during the retail bubble in 2017, but the current btc bull market in 2020 is being driven by institutions and they're not particularly interested in altcoins.

makeorbrake

TRANQUILLO wrote: »

The merits of both coins aside and if we just think of bull run mentality and ensuing hysteria its not a massive leap of faith think ripple could get to 4 quid. You'd clean up no?

You're not the first to think this and you won't be the last. I'm not saying you're wrong but ....
In the last big price uplift, there were folks who came in later who thought they were already too late for btc - and on that basis (among other things) opted for other tokens.
Bitcoin has risk a plenty - but all the others have so much more risk. Just don't get yourself caught up too much in the times X prophecies and try and find other rationale to base your decision on.

EDIT - I read onwards and see that other posters more than covered the above ;-)

makeorbrake

cnocbui wrote: »

Vroom...gurgle, gurgle...vrooom, vrooom, VROOOMMMMmmmm...........................

You been knocking back shots of engine oil again?:D

seannash

There's 18k

el diablo

seannash wrote: »

There's 18k

Rejected bigly after getting close to $18,400.

q85dw7osi4lebg

Oh My God.

Grumpypants

I think we are in the "it will recover and go higher" phase.

Bob24

I am still expecting some kind of retracement, but I am seriously starting to think this bull phase is different from any other we have seen before (I know, dangerous words to say :-)).

Firstly, because this time around high net worth individuals as well as some categories of institutions (for now, mostly hedge funds and family offices) are participating A LOT more. This can be seen with the boom of institutional grade products like the Grayscale investment trusts (or the like of Galaxy Digital which seems to be doing pretty good and might be a good stock to invest in although it might be a bit overheated ATM).

Secondly, because it doesn't look like there is any crypto madness with retail investors as would have existed in 2017. It might be anecdotal, but I think a good illustration is that people posting on this thread/forum are still a vast majority of old timers (me included, and others will recognise themselves :-)) who have remained involved both throughout the best and worst times for crypto price action - i.e. not newcomers attracted by the recent positive price action. There are a few new posters alright, but really not that many. This makes me think that a floodgate of retail players might still be waiting to be unleashed.

So to summarise, I think it is hard to analyse the market based on previous experiences because:
- institutions and high net worth individuals are currently - and for the first time - a key driver of the rally (and they have different buying patterns wfrom retail investors, possibly with less short term speculation and more long term macro bets)
- IMO, only a small fraction of the retail investors which will eventually participate in the rally is currently active (mostly the "hardcore" ones)

Any thoughts?

makeorbrake

Bob24 wrote: »

Any thoughts?

I've got more or less the same opinion. I find that I can't figure out jack on the short term but one thing that has served me well is keeping tabs on market sentiment. This is a very calm price surge - it's different than we've had before.

I think there's smarter money in play whereas previously, there would have been dumb money getting thrown in. Ordinarily, I would have sold off by now and there's still an argument for that. However, if these are not retail people, they too have the ability to get greedy and they have the ability to send this market much higher. That's the conundrum.

Many have said before that FOMO won't kick in until after we reach the ATH price. That seems inevitable now (reaching ATH - not the FOMO) - so lets see what happens.

Mucashinto

Also there's not the competition to investing that there was before imo. The Dow went from 20k to 30k in the four years under Trump(!), would investors really expect to see it go from 30 to 45 in the next four?

Can't underestimate the difference the three extra years of BTC's existence has as well. It seems a lot more established now and has proven it can whether drops that doubters surely must have thought would finish it off.

Once it reaches an ATH again, you could argue that nobody needed to ever lose money investing in it right? Like if they just had the discipline to Hodl...That's reassuring as well.

Edit: 'discipline to Hodl' is a stupid thing to say, but long term believers will have come out on the other side so fair play to them

MuddyDog

What's the general consensus atm? Hold onto it or are we nearing a stage that we are selling? From all the analysts and reports I've checked it definitely seems like a time to hold but the recent week or 2 of gains has me concerned that a decent drop is coming again before it'll break its ATH.

q85dw7osi4lebg

MuddyDog wrote: »

What's the general consensus atm? Hold onto it or are we nearing a stage that we are selling? From all the analysts and reports I've checked it definitely seems like a time to hold but the recent week or 2 of gains has me concerned that a decent drop is coming again before it'll break its ATH.

Not exchanging any for goods or FIAT before $100,000 personally, will just keep adding every week. Many drops will come, but why would I sell? Going into the red for a few weeks or even months means nothing to me with such conviction of a positive long term outlook. Be strong.

jimmii

MuddyDog wrote: »

What's the general consensus atm? Hold onto it or are we nearing a stage that we are selling? From all the analysts and reports I've checked it definitely seems like a time to hold but the recent week or 2 of gains has me concerned that a decent drop is coming again before it'll break its ATH.

It's almost impossible to time it on stocks let alone crypto. Unless you think this is the end of year high I would definitely hold. It could well drop 20% tomorrow but right now it really feels like we're going to be pushing ath on this rally and once it break that psychological figure who knows where it might jump to inside a week. I would have thought most people would happily take it being green from this point in a weeks time at evens.

jimmii

Addison Fancy Macrame wrote: »

Not exchanging any for goods or FIAT before $100,000 personally, will just keep adding every week. Many drops will come, but why would I sell? Going into the red for a few weeks or even months means nothing to me with such conviction of a positive long term outlook. Be strong.

100k has always been the number in my head too. In reality I would imagine I'll cash out maybe 20% at 44-48ish and maybe half the rest at mid 90s as I would imagine the sell off around 50 and 100 will be monstrous! We see how much cracking 10 has been a struggle for long periods of time I could see it taking a long long time to go from 80 to 100.

q85dw7osi4lebg

Add to that that a whopping $100,000 Bitcoin brings Bitcoin to a market cap roughly...........................the same size as Facebook.

banie01

jimmii wrote: »

It's almost impossible to time it on stocks let alone crypto. evens.

This is very, very true.
The gains can also drive uptake of people due to FOMO, a lot of 2017/18 bagholders may well be looking for an exit.

Chasing prices in stocks or crypto is dangerous.
More than a few of us have also been caught on the downside of the curve, thinking we can trade a profit while trying to catch a falling knife.

crushproof

Any one got some thoughts on why ETH is lagging behind the great BTC boom?

Whelo79

crushproof wrote: »

Any one got some thoughts on why ETH is lagging behind the great BTC boom?

It's not really. Both BTC and ETH have jumped around in excess of 30% over the last month.

stockshares

From Cryptocompare newsletter

The market capitalization of bitcoin has hit a new all-time high above $330 billion, up from its previous high of $328.89 billion on December 16, 2017.

Bitcoin’s market cap is now of $337.5 billion as the cryptocurrency is currently trading at $18,200 and is getting closer to its previous all-time high close to $20,000. While the cryptocurrency’s price hasn’t yet hit its all-time high, its circulating supply has grown since late 2017.

There are currently 18,546,718 BTC in circulation, out of the 21 million that will ever exist. The halving that saw bitcoin block rewards from 12.5 BTC to 6.25 BTC per block took place earlier this year, effectively reducing the number of new coins entering the market.

cnocbui

Wednesday, 18th Nov, 2020

An anonymous source with the Ministry Of Defence, in the Uk, has revealed that MOD scientists have been puzzled by unusual signals, picked up by the UKs classified array of highly sensitive hydrophones placed on the floor of the Atlantic Ocean. The array is used to listen for the faint sounds made by submarines, particularly those belonging to Russia and China. The signal has a distinct repetitive rhythm to it and appears to be of intelligent origin. The sounds comprising the signal, are at subsonic frequencies, below those that can be heard by the human ear and consist of groups of evenly spaced pulses of about half a second in duration. The signal appeared some days ago and continues for hours, with occasional pauses and ceases entirely for about 7 hours from late in the evening, US Eastern time, and resumes the following morning.

The source said that using equipment that shifts the mysterious signal to the human audible range, it sounds uncannily like laughter. I asked if the sound could be produced by a whale, but was told that this seemed unlikely as only an extremely large one could produce a sound that loud and that while marine biologists had heard them singing, they had never heard one laughing.

I asked if there could possibly be any connection to reports that police in the US, responding to a noise complaint, had recently called to a house neighbours allege was being rented by Dr Craig Wright? The source dismissed this suggestion, saying that although he didn’t know who Craig Wright was, he doubted very much he was a very large whale or would have a reason to laugh so much and so loudly, unless of course he was managing to have a last laugh, but that would still leave the problem of species.

Truckermal

Is said Whale stacking BTC?