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Are we excited yet?

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Continuation of Is anyone else starting to become a bit excited?

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UsBus

The price movements are absolutely mental. 30 - 40% drops. There is some serious movement of coins between wallets according to the Whale alert twitter account. Is this all China related or something else brewing I wonder..?

Rob2D

Jafin wrote: »

If anything I feel very amused by it all.

It's certainly an interesting hobby!

MuddyDog

Surely a rebound incoming.

Phoebas

SummerK wrote: »

Does this mean there could be more dip in crypto space? I read on another portal that bitcoin could see $29k next week which sounds scary to me.

Next week?
We're almost there already.

SkyRevNet

SummerK wrote: »

Lads BTC at $32K, so 29k support news appears to be correct.

That "market support" stuff is nonsense. That's all fine and dandy when you're talking about shares of companies that generate income or expect to in the future, and therefore their shares will have a base value that reflects that.

The price of something that generates no income has no inherent value other than "speculation opportunities" could literally collapse if the enough people lost faith in it.

The "market" was convinced that this bull run had another 3-4 months left in it yet here we are. It's seen an unprecedented increase in value, and it could just as easily see the opposite.

I don't know much about investing but I know that relying on past trends is an incredibly risk position to take.

I'm not saying that the price will go below that level, I'm just saying that applying that rationale to a brand new asset class with an immture markey is a recipe for disaster.

[Deleted User]

I really did not pick a good time to start investing in Crypto.

Down 30%

On the bright side I am very glad that I only put very small amounts in, only about 250 quid spread across ETH and BTC. This is mad ha

Rob2D

Hey I just thought.

That Bitcoin Conference in Miami in a couple weeks is gonna be interesting!

BrandonBay86

Trying my best to get into any of the exchanges now for a buy but everything seems to be down. Hard to buy the dip when this happens !

Jafin

Meredith Rotten Tannery wrote: »

I really did not pick a good time to start investing in Crypto. Down 30%

On the bright side I am very glad that I only put very small amounts in, only about 250 quid spread across ETH and BTC. This is mad ha

The key really is to not put in more than you can afford to lose. I only started a little over a year ago so I'm very much still new. From everything I've read, what's happening now is completely normal. If you look at past charts there are always climbs followed by big dips, which are eventually followed by large climbs again. Nothing is guaranteed of course, but as the saying goes - history repeats itself. As long as you always make sure to only put in money you can afford to lose then there's nothing to worry about. That's what I've done, just buying very small amounts twice a month. My plan is to hodl long term.

FileNotFound

Some dropping today.

Are there any signs to keep an eye out with regards to a recovery. 2 days of + or anything like that?

Understand its a lot of guesswork, I suppose prob impossible to know at all

Donald Trump

MuddyDog wrote: »

Surely a rebound incoming.

I never invested or bought or traded any crypto. But I will just say that people will tell you X/Y/Z. Those are guesses. They may be right and they may be wrong. I wouldn't have a dog in the fight but I don't like to see people losing money.

Best advice is the simple ones of don't put all your eggs in the same basket and don't risk more than you can afford to lose.

There is no "surely". That is my point.

banie01

Well that's my day made interesting.
What a drop in BTC > Fiat values in my portfolio!
Glad it's not my 1st rodeo, or it would very likely be a black Wednesday.

I'm trading BTC into others and back again at the moment, link, nano, BCH and BNB are all buys for me during this crash.
No cash to add, and glad of it too.
Fingers crossed however that the equity portion of my portfolio picks up part of the red...

bfa1509

I can't access my account at work but am looking through my fingers at the carnage. Prob for the best that I can't touch.

[Deleted User]

Jafin wrote: »

The key really is to not put in more than you can afford to lose. I only started a little over a year ago so I'm very much still new. From everything I've read, what's happening now is completely normal. If you look at past charts there are always climbs followed by big dips, which are eventually followed by large climbs again. Nothing is guaranteed of course, but as the saying goes - history repeats itself. As long as you always make sure to only put in money you can afford to lose then there's nothing to worry about. That's what I've done, just buying very small amounts twice a month. My plan is to hodl long term.

Yeah that's what I am doing, adding a little that I can afford to totally lose each month, will see where I am in a year or two

Dohnjoe

BrandonBay86 wrote: »

Trying my best to get into any of the exchanges now for a buy but everything seems to be down. Hard to buy the dip when this happens !

"The dip". Even in crypto, 30% to 40% in a day isn't a dip.

OEP

Dohnjoe wrote: »

"The dip". Even in crypto, 30% to 40% in a day isn't a dip.

Ah it is a dip. How many times has it dropped 30 - 40% in a day? And recovered soon after

Phoebas

OEP wrote: »

Ah it is a dip. How many times has it dropped 30 - 40% in a day? And recovered soon after

I can't see a 'dip' this severe in its history - maybe back in time when it was $600 and went to $300 or something?

BrandonBay86

Dohnjoe wrote: »

"The dip". Even in crypto, 30% to 40% in a day isn't a dip.

I loaded up at 4k in the dip last March, a dip is a dip whether you like it or not. Always buy the dip. The same will happen here. We’ll be at 70k in no time.

ETH / BTC taking a hammering, could be the end of alt season.

BrandonBay86

Phoebas wrote: »

I can't see a 'dip' this severe in its history - maybe back in time when it was $600 and went to $300 or something?

Bitcoin briefly dropped 52% on 12th March last year. There are many other examples. It usually recovers pretty fast, alts not so much.

Jackben75

Phoebas wrote: »

I can't see a 'dip' this severe in its history - maybe back in time when it was $600 and went to $300 or something?

there was a flash crash due to (was it Antpool) power outage back in 2017, Bitcoin crashed to $200 for a few mins and immediately returned to market value within minutes, the $200 (circa) price was only available for 10 - 20 secs, a few lucky punters did get lucky though

it has crashed a lot of times, i think maybe 7 or 8 since 2010. It's going to 250k and beyond eventually, patience young grasshopper

OEP

Jackben75 wrote: »

there was a flash crash due to (was it Antpool) power outage back in 2017, Bitcoin crashed to $200 for a few mins and immediately returned to market value within minutes, the $200 (circa) price was only available for 10 - 20 secs, a few lucky punters did get lucky though

it has crashed a lot of times, i think maybe 7 or 8 since 2010. It's going to 250k and beyond eventually, patience young grasshopper

They were referring to someone saying this isn't a dip, when it clearly is. I've no doubt it'll bounce back, when is the big question!

[Deleted User]

Oh, look, it's going down quickly.

If you're in for the long haul then don't even entertain this.

I can't see the rumours of the Chinese government cracking down being true, they have far too much skin in this game themselves. I'd imagine all those Tesla wallets holding their $1.5 billion worth are selling off in increments and I'd say there's immense pressure from the Board to sell. I wouldn't be surprised to see Elon shown the door and Michael Burry has $530 million in options against Tesla, so he's pretty bullish on a retraction of either the market or of Tesla specifically, either way, Elon is on the ropes.

bankboucy

Keep buying the dip, eventually you’ll get your cost basis down to zero and then there’s no way you can lose

Phoebas

There's definitely money to be made for the brave here.

There was a near 25% bounce there in a little over 1/2 an hour, It's very tempting, but I wouldn't putting money into this market and going to sleep tonight.

OEP

circadian wrote: »

Oh, look, it's going down quickly.

If you're in for the long haul then don't even entertain this.

I can't see the rumours of the Chinese government cracking down being true, they have far too much skin in this game themselves. I'd imagine all those Tesla wallets holding their $1.5 billion worth are selling off in increments and I'd say there's immense pressure from the Board to sell. I wouldn't be surprised to see Elon shown the door and Michael Burry has $530 million in options against Tesla, so he's pretty bullish on a retraction of either the market or of Tesla specifically, either way, Elon is on the ropes.

I'd be particularly bullish about Ethereum in the long term, as long as EIP 1559 is successful. I could even see it overtaking bitcoin in the future as environmental impact will become an issue with the way the world is going.

I sold half my ether this morning having held since 2017. Have a few big life events coming up in the next year that the extra cash will do wonders for, if I didn't need the money I would have held onto all of it

Jackben75

Phoebas wrote: »

There's definitely money to be made for the brave here.

There was a near 25% bounce there in a little over 1/2 an hour, It's very tempting, but I wouldn't putting money into this market and going to sleep tonight.

why? if your plan is to hodl or wait until at least the market rises again, you should sleep fine! Loaded up on more Dot myself earlier $21, i will sleep fine

seannash

Dead cat bounce?

FFVII

That €10,000 drop got me. Im out. Look forward to the explanation behind that.

I don't believe the Chinese thing either.

I wasn't looking at another 2017. Fuk that.

HGVRHKYY

Dohnjoe wrote: »

"The dip". Even in crypto, 30% to 40% in a day isn't a dip.

There were multiple 30%+ dips in the previous bull runs though

Phoebas

Jackben75 wrote: »

why? if your plan is to hodl or wait until at least the market rises again, you should sleep fine! Loaded up on more Dot myself earlier $21, i will sleep fine

I'm not cut out for these volatile markets (unless they're volatile on the upside).

That said, if it bounces off 29k/30k again, I'd feel more comfortable about buying in again. Right now it looks like it could be a falling knife.