seannash wrote: » I think bear is coming, historically sundays are bad for crypto and bar a few pumps which have been squashed it seems the momentum to get up and over 42k is gone. Just my opinion though
Deleted User wrote: » There is no logic to it at all. A sub-reddit or an Elon Musk tweet could send it soaring for no particular reason whatsoever. But my feeling is times have definitely changed. There is a real push by central banks and governments to quash the crypto uprising. Also, its reputation of being the digital gold is in tatters. At a turbulent time in the markets investors have opted to actually sell their crypto and buy gold and commodities.
[Deleted User] wrote: » There is no logic to it at all. A sub-reddit or an Elon Musk tweet could send it soaring for no particular reason whatsoever. But my feeling is times have definitely changed. There is a real push by central banks and governments to quash the crypto uprising. Also, its reputation of being the digital gold is in tatters. At a turbulent time in the markets investors have opted to actually sell their crypto and buy gold and commodities.
FFVII wrote: » Digital gold was always utter bullsh1t.
quinneerr wrote: » Which one of you is this poor bastard? He spend all his money on crypto Monday, then we crash hard Tuesday. Here is his initial video and the follow up Pushing all in. youtube.com/watch?v=dQY1OeOXOq4 The aftermath. youtube.com/watch?v=3oaPz4GTDjI Just James got Justed, the memes write themselves, He got Bogged hard
Markus Antonius wrote: » Has anyone asked Chairman Mao if he's actually banning bitcoin or are we just going to take the mainstream media's word for it?
Jeff2 wrote: » I just buy the dip and sell. Might be interesting to some. https://www.youtube.com/watch?v=Lhf_2gJJS1I
kwestfan08 wrote: » Not a crypto guy but I’m coming with an open mind. Can prices be properly charted on a commodity so volatile? Like with share maybe the company produces a great earnings quarter and share price rises because of that. What’s the story with btc and the rest? When a tweet can knock 10-20% off the value or a tv appearance make other coins double in value are you as well reading your horoscope or checking the “vibes” to see if the price will rise or fall? When the coins themselves produce nothing of value is it just rampant speculation on the part of buyers controlling the price and therefore can’t really be rationalised?
Deleted User wrote: » Pretty much. You're simply dealing with human nature, on the up you have hope, optimism, Euphoria. While in a Euphoric state all it takes is a dose of reality and then you're on the downward trend of Anxiety, panic and depression. As the video's above point out, this is all market manipulation. It's all so text book because as you say, there simply are no fundamentals behind cryptos. How many people actually use crypto, block chain, smart contracts etc etc in real life outside of drug gangs and human trafficking? Personally I'm waiting for an exit point, to me that is break even. I was up 30% at one stage and my gut feeling was take the profits, but we were all caught up in Euphoria and the sentiment at the time was "to the moon". The moral of the story is don't get greedy, take your profits.
Drumpot wrote: » I think I’m currently at circa 20% capital exposure to the maximum I invested if the value goes to zero. I was cashing out profits at different times because I’m trying to be responsible and teach myself some discipline. It’s so easy to get caught up in it. I heard of one guy who’s made make then a million and he’s holding out for 2. That’s Greed to me. I’d like to think I would take at least 500k, pay the tax, pay off my mortgage and let the balance do whatever it will do. I think it’s easy to get caught in a greed cycle and over confidence which I think people who make money can suffer. Quite often it’s mostly luck and lucky timing but people convince themselves it’s their extensive knowledge and research. I’ve read about it before in different psychology material, but even when you place a bet you need only remember now exciting it can feel to win and how more confident you can feel after a few wins on the trot. We are remarkably delusional about how much we can predict some things , particularly when we are not in control of all the other external factors we can’t control.
Drumpot wrote: » I am not a “crypto” person but I threw a few quid in to see how it plays out. There is no intrinsic value to actual currency either. The paper money we use has no other value then what we perceive it to be by consensus. That is not something I would hold against crypto. Another thing is that we are an awlfully fickle species , the banking collapse of 2007 shows how quickly even our mainstream financial system can be vulnerable to panic. So far the crypto industry hasn’t needed government bailouts and if anything has been attacked by the same failed institutions/regulators who are more concerned with protecting their own cartel. However , crypto to me (admittedly without extensive knowledge) looks basically like an alternative version of own financial system on steroids. We like to think our system is flawless, but it’s as vulnerable in all the ways it was in 2007 but we don’t care and won’t care until the next inevitable issues arise again. I think crypto in its current format is more comparable with gambling/speculation then investing in the general sense but I suppose you could say we all gamble on the current financial system without giving it much thought. The binance app I’ve still not familiarised myself with fully, has all Sorts of competitions , kind of like betfair betting app. The crypto universe does have way more of a gambling feel. I do wonder if part of the price rises over the last year has been the take up of crypto by the average joe. Partial boredom, partial alternative to betting, partial riches promises and much easier to access has prob helped. With some Rich folk throwing a few quid for the crack. The likes of musk show how easily it is to manipulate its value , in the same way Trump showed how easy it is to manipulate masses into following crazy. But I just find these as extreme examples of society that happens every day and we refuse to see. I don’t see musks actions as anything unique , maybe uniquely obvious manipulation where most of its done in the background or more subtly. Meh, I know I’ve gone off on one, sorry. But crypto is not unique as a fad, it may or may not take off more legitimately, but if anybody is investing my suggestion is just invest what you can afford to lose and are willing to lose. I’ve seen some posters in here talk about buying dips etc, which is fine, but I would wonder if some are investing more then they would be comfortable losing on the assumption the graph of crypto will generally continue to rise.
Deleted User wrote: » How many people actually use crypto, block chain, smart contracts etc etc in real life outside of drug gangs and human trafficking?
Deleted User wrote: » Hard to imagine not being happy with 1 million though!
grindle wrote: » Millions of people & without them knowing, which is fine. Everything else you said is right though. Prices are consistently vastly inflated. It depends on age but €1m (€667k + capital cost) isn't retirement for most.
Drumpot wrote: » ...nobody likes losing what they had or more dangerously what they think they had.
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