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Cryptos

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  • kentaddick
    kentaddick Posts: 18,729
    in case you were getting twitchy about selling any time soon

    https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017
  • reserves
    reserves Posts: 795
    kentaddick said:
    in case you were getting twitchy about selling any time soon

    https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017

    Sold! Just wondering when to get back in. 
  • BR7_addick
    BR7_addick Posts: 10,215
    kentaddick said:
    in case you were getting twitchy about selling any time soon

    https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017
    So for investor idiots like myself.  Are you saying hold onto your crypto?
  • kentaddick
    kentaddick Posts: 18,729
    BR7_addick said:
    kentaddick said:
    in case you were getting twitchy about selling any time soon

    https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017
    So for investor idiots like myself.  Are you saying hold onto your crypto?
    Big money usually = smart money. smart money are buying crypto for the next few years, you always want to bet with the smart money.

    So, yes.
  • cabbles
    cabbles Posts: 15,259
    Fed announcement on inflation due later today. If hawkish, I expect crypto market to dip later today and tomorrow.  
  • kentaddick
    kentaddick Posts: 18,729
    cabbles said:
    Fed announcement on inflation due later today. If hawkish, I expect crypto market to dip later today and tomorrow.  
    fits in with the chart, at least.
  • The Prince-e-Paul
    The Prince-e-Paul Posts: 6,693
    FFS I'm still £1200-1300, down across the board even with the recent rally. Annoyingly I bought in to Internet Computer a few weeks ago at what I thought was a good price. Sadly it remains at lower than 50% of my buy-in price. Think I need a new hobby!
  • cabbles
    cabbles Posts: 15,259
    The Prince-e-Paul said:
    FFS I'm still £1200-1300, down across the board even with the recent rally. Annoyingly I bought in to Internet Computer a few weeks ago at what I thought was a good price. Sadly it remains at lower than 50% of my buy-in price. Think I need a new hobby!
    Just hold.  I’m down, but you cannot have companies buying up $500m worth of btc that will be on their balance sheet unless it at some point will go up again.  The tide is turning for crypto currency to become a valuable asset that a lot of money folk will want to hold as an asset.  The volatility will likely be here for a while, you may see your holdings drop even further, but do not sell.  I am new to all this, have sold in the red because I panicked, but having sat through the huge drop that happened a few weeks ago, and not sold, it’s possible to ride storms out.

    Have faith 
  • CAFCsayer
    CAFCsayer Posts: 10,238

    This is a great watch

  • Rob7Lee
    Rob7Lee Posts: 9,604
    The Prince-e-Paul said:
    FFS I'm still £1200-1300, down across the board even with the recent rally. Annoyingly I bought in to Internet Computer a few weeks ago at what I thought was a good price. Sadly it remains at lower than 50% of my buy-in price. Think I need a new hobby!
    my 2c FWIW.

    Trading bitcoin you either buy with a view to a long term (potentially years) of holding, or you trade in and out and set sensible stop losses and profit take amounts.

    If you are doing the former and on the basis you know the risks, just buy, leave and stop looking daily at the price charts! Maybe to be safe stick a sell price at 3/4/5 times or whatever your original price was.

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  • cabbles
    cabbles Posts: 15,259
    https://www.cnbc.com/2021/06/16/fed-meeting-live-updates-watch-jerome-powell-speech.html

    Short term pain coming.  Stock market will drop as well, so I expect cryptos to follow 
  • kentaddick
    kentaddick Posts: 18,729
    cabbles said:
    https://www.cnbc.com/2021/06/16/fed-meeting-live-updates-watch-jerome-powell-speech.html

    Short term pain coming.  Stock market will drop as well, so I expect cryptos to follow 
    worries about inflation etc might be good for bitcoin though. Why keep your money in an inflationary asset (US Dollar) when you can put it into a deflationary one (bitcoin).
  • cafcpolo
    cafcpolo Posts: 3,813
    Someone has made a LOT of money from this...Jesus. Check out the 14 day chart.

    IRON Titanium Token price, TITAN chart, market cap, and info | CoinGecko
  • CAFCsayer
    CAFCsayer Posts: 10,238
    cafcpolo said:
    Someone has made a LOT of money from this...Jesus. Check out the 14 day chart.

    IRON Titanium Token price, TITAN chart, market cap, and info | CoinGecko
    Rugpull... Mark Cuban lost a load of cash on this, it happens to the best of us
  • kentaddick
    kentaddick Posts: 18,729
    43k in the post. 
  • BigRedEvil
    BigRedEvil Posts: 11,079
    $60 to nothing ouch
  • cabbles
    cabbles Posts: 15,259
    Think another dip is kicking in.  Good for Microstrategy and the $500m purchase
  • No.1 in South London
    No.1 in South London Posts: 3,964
    <blockquote class="twitter-tweet"><p lang="en" dir="ltr">The problem with <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;amp;ref_src=twsrc^tfw">#Crypto</a>, as in most things, is the leverage. If you don&#39;t know how much leverage is in crypto, you don&#39;t know anything about crypto, no matter how much else you think you know.</p>&mdash; Cassandra (@michaeljburry) <a href="">June 17, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
  • No.1 in South London
    No.1 in South London Posts: 3,964
    <blockquote class="twitter-tweet"><p lang="en" dir="ltr">All hype/speculation is doing is drawing in retail before the mother of all crashes. <a href="https://twitter.com/hashtag/FOMO?src=hash&amp;amp;ref_src=twsrc^tfw">#FOMO</a> Parabolas don&#39;t resolve sideways; When crypto falls from trillions, or meme stocks fall from tens of billions, <a href="https://twitter.com/hashtag/MainStreet?src=hash&amp;amp;ref_src=twsrc^tfw">#MainStreet</a> losses will approach the size of countries. History ain&#39;t changed.</p>&mdash; Cassandra (@michaeljburry) <a href="">June 17, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
  • No.1 in South London
    No.1 in South London Posts: 3,964
    Michael Burry tweeting some warnings

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  • Covered End
    Covered End Posts: 52,040
    There's been plenty of warnings.
  • BR7_addick
    BR7_addick Posts: 10,215
    Anyone care to predict how low BTC will go, in the short term?
  • Rob7Lee
    Rob7Lee Posts: 9,604
    BR7_addick said:
    Anyone care to predict how low BTC will go, in the short term?
    Finger in the air time!

    Easy to forget where it's come from, 12 months ago was sub $10k, I could see it dropping back there. So that probably means we'll be at 80K before the end of July  :D
  • Stu_of_Kunming
    Stu_of_Kunming Posts: 17,120
    Covered End said:
    There's been plenty of warnings.
    And they’ve all been outrageously wrong, why is it different this time?
  • cabbles
    cabbles Posts: 15,259
    Stu_of_Kunming said:
    Covered End said:
    There's been plenty of warnings.
    And they’ve all been outrageously wrong, why is it different this time?
    I agree.  I respect your stance covered end.  I just think that if the whole thing was about to go to s*** like that guy tweets, what CEO of a company would risk holding $500m of btc on his balance sheet, like Saylor is about to do at Microstrategy. As I understand it, one of the btc mining companies is also going to be listing in the U.S on Monday.

    Warnings about volatility, risk and bear markets are useful contributions, as crypto social media is an echo chamber, but warnings about the whole thing dying on its arse and disappearing are starting to become redundant imo 
  • kentaddick
    kentaddick Posts: 18,729
    cabbles said:
    Stu_of_Kunming said:
    Covered End said:
    There's been plenty of warnings.
    And they’ve all been outrageously wrong, why is it different this time?
    I agree.  I respect your stance covered end.  I just think that if the whole thing was about to go to s*** like that guy tweets, what CEO of a company would risk holding $500m of btc on his balance sheet, like Saylor is about to do at Microstrategy. As I understand it, one of the btc mining companies is also going to be listing in the U.S on Monday.

    Warnings about volatility, risk and bear markets are useful contributions, as crypto social media is an echo chamber, but warnings about the whole thing dying on its arse and disappearing are starting to become redundant imo 
    They’ve been redundant for years. If bitcoin would’ve died, it would’ve died on its first or second crash. It won’t now hedge funds will have 7% of their funds in crypto. 
  • kentaddick
    kentaddick Posts: 18,729
    Although I agree with burry’s fundamental point, that theres a lot of overvalued tech stocks - Tesla, a company who’s only profit has ever been selling bitcoin being a prime example - and I don’t think Bitcoin will be immune from this crash, at all. But disappear? Nah, just gonna buy more bitcoin. 
  • kentaddick
    kentaddick Posts: 18,729
    kentaddick said:
    Although I agree with burry’s fundamental point, that theres a lot of overvalued tech stocks - Tesla, a company who’s only profit has ever been selling bitcoin being a prime example - and I don’t think Bitcoin will be immune from this crash, at all. But disappear? Nah, just gonna buy more bitcoin. 
    just to add to this - we're in the midst of a worldwide silicon shortage, yet tech stocks continue to go up... Something is going to give at some point if this continues.
  • Covered End
    Covered End Posts: 52,040
    I don't doubt and have always maintained that Bitcoin and a few cryptos will survive and possibly thrive in the long term. It's many of the others cryptos that will struggle to survive, just like the dot com bubble.
  • kentaddick
    kentaddick Posts: 18,729
    Covered End said:
    I don't doubt and have always maintained that Bitcoin and a few cryptos will survive and possibly thrive in the long term. It's many of the others cryptos that will struggle to survive, just like the dot com bubble.
    or like any other business...

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