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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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mcriot29

Dohnjoe wrote: »

Look at the 2018 chart from the start of the drop, when was the best time to buy?

Knowing that, perhaps ask yourself why you'll be buying in a week. We've been saying it for years: buy in a bear, sell in a bull. It's amazing how few do this, and those that do make serious money.

But the issue is now are we in bear now is this a good or bad time to buy
Hard to know

LawBoy2018

Del007 wrote: »

How will you know when the price tanks? It could go to near zero after you do your investment

What do you mean? I won't invest until the price has finished tanking and things level off. Ofc there's a chance that it might dip further but this won't be the end of the crypto market.

Del007

LawBoy2018 wrote: »

I'm gonna jump in once the downtrend is finished, I don't mind paying a bit more. Nothing worse than trying to catch knives + failing as the price tanks.

How will you know when the price tanks? It could go to near zero after you do your investment

Dohnjoe

mcriot29 wrote: »

I was going to buy 10k of bitcoin in 2017, but then never did big mistake.
Right now I have 8.5k in eth and 3.5 in ada and then around 1.5’k in mixed ones.
I bought last week after the drop but today I’m down around 3k onwhat I bought so 25 percent drop.
I want to get another 12 k this week but not sure if I should if it drops more I will be at a bigger loss .
Not sure if I should buy more eth or ada

Look at the 2018 chart from the start of the drop, when was the best time to buy?

Knowing that, perhaps ask yourself why you'll be buying in a week. We've been saying it for years: buy in a bear, sell in a bull. It's amazing how few do this, and those that do make serious money.

LawBoy2018

mcriot29 wrote: »

I was going to buy 10k of bitcoin in 2017, but then never did big mistake.
Right now I have 8.5k in eth and 3.5 in ada and then around 1.5’k in mixed ones.
I bought last week after the drop but today I’m down around 3k onwhat I bought so 25 percent drop.
I want to get another 12 k this week but not sure if I should if it drops more I will be at a bigger loss .
Not sure if I should buy more eth or ada

I'm gonna jump in once the downtrend is finished, I don't mind paying a bit more. Nothing worse than trying to catch knives + failing as the price tanks.

mcriot29

SnuggyBear wrote: »

Yep, the writing was on the wall but people refused to listen.

I was going to buy 10k of bitcoin in 2017, but then never did big mistake.
Right now I have 8.5k in eth and 3.5 in ada and then around 1.5’k in mixed ones.
I bought last week after the drop but today I’m down around 3k onwhat I bought so 25 percent drop.
I want to get another 12 k this week but not sure if I should if it drops more I will be at a bigger loss .
Not sure if I should buy more eth or ada

SnuggyBear

downcow wrote: »

I went in a few years ago at the ATH and watched my money get so low that there was no point in taking it out. Thankfully here we are years later and it double in value.
This time I took a split second decision and took everything out about a week ago (once bitten, twice as shy).
I fully expect to put it back in in due course.

Yep, the writing was on the wall but people refused to listen.

greenfield21

mcriot29 wrote: »

Can you see it dropping much more
Do you think it will drop to 20k BTC

How much do you own?

No one has a clue where bitcoin goes, you can try and read silly charts if it makes you feel better.

HGVRHKYY

Some annoyingly bearish comments in here based on ignorance, people who probably haven't heard about the idea of the lengthening cycles. This bull run was actually pretty early when it started, so it's strange that some people seem oblivious to the possibility of bearish periods and consolidation periods during what is still overall a bull run. Could we go lower and stay bearish for a while? Yeah, definitely. Is it the end of this cycle's bull run and $64k is the cycle top? Almost certain it isn't. If you don't have patience and are freaking out here you won't be comfortably holding for what could be a few months of sideways price movement and a return to upwards volatility later in the year, maybe even into next year

I've been investing since 2017, throughout the years during times everything was 'dead' and few people were even following crypto, stopped buying around January and now just started accumulating a bit more the past few days since the prices are attractive compared to their recent highs. Sell your crypto to whales and panic buy at higher prices when it picks up again if you want

mcriot29

downcow wrote: »

I went in a few years ago at the ATH and watched my money get so low that there was no point in taking it out. Thankfully here we are years later and it double in value.
This time I took a split second decision and took everything out about a week ago (once bitten, twice as shy).
I fully expect to put it back in in due course.

Can you see it dropping much more
Do you think it will drop to 20k BTC

downcow

I went in a few years ago at the ATH and watched my money get so low that there was no point in taking it out. Thankfully here we are years later and it double in value.
This time I took a split second decision and took everything out about a week ago (once bitten, twice as shy).
I fully expect to put it back in in due course.

NomadicGray

mcriot29 wrote: »

So you expect bitcoin to rise again
Some are saying it will go to 20k and stay there for months

I'd call that an accumulation phase

LawBoy2018

bfa1509 wrote: »

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

I was referring to your comments re crypto's image/reputation. Anyone shocked by the flash crash has a short memory.

How is the 'financial system' rigged? What even is the financial system? lol. The ECB?

What will crypto take over? Do you think it will replace the Euro?

NomadicGray

greenfield21 wrote: »

We're back to January levels now, I can't see why these falls make such big news.

Were you part of an establishment that fears the potential shake up form cryptocurrency you'd be pushing the fud

greenfield21

Is it time to sell everything and return back to fiat?

mcriot29

bfa1509 wrote: »

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

So you expect bitcoin to rise again
Some are saying it will go to 20k and stay there for months

shtpEdthePlum

Wow across the board everything I have has dropped by half in the past week.

If I regarded it as real money I'd be crying.

bfa1509

LawBoy2018 wrote: »

I think most people outside the crypto community already had things sussed to be fair.

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

mcriot29

bfa1509 wrote: »

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

It’s done this before do you think it will ever go back up to prices we saw last week or do you expect it to stay around 20k long term and now no more bull runs

LawBoy2018

bfa1509 wrote: »

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

I think most people outside the crypto community already had things sussed to be fair.

bfa1509

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

LawBoy2018

Unearthly wrote: »

Yes btc bounced off a support line and is now gaining back dominance.

2 ways bitcoin can gain dominance is to go parabolic and liquidity from alts goes to bitcoin or bitcoin drops significantly and kills the alts with higher % drops. Unfortunately it picked the latter recently

That sums it up nicely I think!

Unearthly

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

Yes btc bounced off a support line and is now gaining back dominance.

2 ways bitcoin can gain dominance is to go parabolic and liquidity from alts goes to bitcoin or bitcoin drops significantly and kills the alts with higher % drops. Unfortunately it picked the latter recently

greenfield21

We're back to January levels now, I can't see why these falls make such big news.

[Deleted User]

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.

I stopped there.

BrandonBay86

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

Bitcoin dominance up 20% in the past 7 days so certainly a strong signal of alt season ending.

Richard Hillman

Governments will have to pay for Covid over the next couple of years. EU Governments especially are becoming larger and larger, veering into socialism. Government spending is not decreasing. The ERSI here have been calling for the Government to tax more. The ECB want people out spending and not saving or hoarding money.

For me, Crypto Currency is a method of storing money that Governments cannot touch. Stock markets may get a boom but dividends will be low and the dividends will be heavily taxed.

If the market bottoms out at the end of this year or into next year, it will align with the time when Governments will have to face the economic armageddon of Covid.

So what will wealthy people do with their money?

Invest in business during what will probably be am economic depression? That doesn't sound very promising.

Invest in stocks? Despite dividends being very limited and taxes high

Leave it in the bank to accumulate? Big Governments coming after that

Gold? Usually a safe bet. Although there may not be too much demand for gold and gold mining may have to stop to keep demand high.

Or.....

Remember that Bitcoin thing? Jesus it was worth 60k last year and now its worth 4 figures.......BOOM. Then when normal folk are suffering they see something like cryptocurrency booming. They want some of the action. People like to gamble more during economic down time. It will become more and more accessible too.

The good times are on the way. With a boom you cannot even imagine.

mcriot29

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

BTC low will be around 25kus next week I feel

LawBoy2018

How low will BTC go? Is this the end of Alt season?

Shedite27

What was the official high points? $65k or so for Bitcoin? so $32,500 is pretty 50% off the top.

Etherium high of about $4300 so $1900 is even less, about 55% off the top.

Polkadot spiked to $49 this week, so $16 is 68% off the top.

Bitcoin holding up slightly better than the others in %