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Cryptocurrency

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    Originally posted by VirtualMonkey View Post
    I think so ... and then it's onwards to 22k and possibly 35k
    When the dust settles it's time to work out exactly which alts recovered the best/were not affected/benefitted so we can move quickly to the right place next time this happens
    I think most alts dipped 10-15% vs BTC but have bounces back. Everything I bought into this morning has and is with 1% of the value I bought them at, so quite happy with that.

    I already had eth but also bought ripple, monero and emc2. That last one a gamble but it's not dropped to much.

    I also just held my Zen and cardano.

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      I'm out of ZEN now - I'm not sure about anonymous/privacy coins. Anonymity is in the crosshairs of the US and other governments.
      "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

      Comment


        That might be it for the correction
        "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

        Comment


          Originally posted by tomtomagain View Post
          What is there in BitCoin that will stop a slide?
          Bitcoin is demanded by ransomware software to pay ransoms. This demand for the currency causes it to have value in the same way as taxation causes normal currencies to have value.

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            just the market makers shaking the tre

            but who are the market makers for BTC ?

            can you set stop losses with BTC and can the
            market makers shake the tree and trigger
            all the stops ?

            Milan

            Comment


              I don't see the market makers existing with crypto unless your using a CFD broker or spread better.

              The exchanges have no interest in if you win or lose as all they do is facilitate the sale of your coin to another person, not like when using a CFD broker who are the other person hence want you to lose so they can take your money. You could say there are being fish players who shake the tree by pulling out big volume which causes the price to drop etc


              I wouldnt use a CFD broker for crypto as if your holding for days the overnight swaps are crazy as well as the spreads being about 50 pips.

              You can set limit stop orders with the exchanges which is supposed to be the same as a stop loss but I am still trying to understand why it doesn't go onto the books immediately but after the 'stop' price is reached and then becomes a limit order - different to the way I understand stop losses with CFD providers whereby it immediately goes on the book as a 'sell of the price hits x'.
              Last edited by Olly550; 23 December 2017, 09:57.

              Comment


                Originally posted by milanbenes View Post
                just the market makers shaking the tre

                but who are the market makers for BTC ?

                can you set stop losses with BTC and can the
                market makers shake the tree and trigger
                all the stops ?

                Milan
                In the futures market it's got the same setup as traditional FX/commodity markets. Also there are some people trading it on CFD/spreadbetting platforms with leverage, stops etc so their brokers will know where the stops are. So in some cases they can run the stops and doctors & dentists (and IT contractors) can enjoy the same lovely experience they do on EUR/USD.

                Most of the retail market will be buying and holding on exchanges like Coinbase etc and won't be using stops or TP levels. So for the most part it's people holding it like stocks in a portfolio. I'm not touching it on my spreadbetting platform as the spread is too wide and I've moved mostly from that 'world' into this while it's relatively easy still. I do plan to return if/when the party is over with a much larger account than I left with and a good chunk for covered call options as well - ideally enough to support not having to contract anymore. Maybe even some BTL if things go very well.

                The more advanced retailers are holding major cryptos and trading alt coins while they are getting pumped and dumped. Again this is like stocks where we we buy and own them. The exchanges we use have the facility to set limit orders (stops/TP) however I doubt many people are using them. I am using them to take profit on alt trades but no stops - as there is no OCO option on bittrex - maybe on other platforms haven't checked.

                I expect the crypto market will be regulated and start behaving like other markets in time and big money will be able to control the price as opposed to whales and pump & dump syndicates like we see now. I think that is why we are seeing 2018 as the big 'fill yer boots' year while they figure out and implement regulation etc.

                We're also accumulating the more promising coins that have the potential to become very widely adopted and go huge in a few years - with more of a 3-5 year outlook. These are very cheap right now, pretty much where bitcoin was before it exploded up this year. Bitcoin is no longer fit for purpose so people are looking at for the ones that can match SWIFT/VISA etc in terms of throughput, low fees etc.

                It's not too late to buy a chunk of Ripple/DASH/Stellar/Bitcoin Cash etc. 2018 will be a good run and you could see 5 digit % returns on a few different coins.
                "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

                Comment


                  Originally posted by Jog On View Post
                  We've been waiting and talking about this correction for weeks now. Glad its finally here so we can get it over and done with. Although $7500 - 8000 would be an epic buy opportunity. I'm all in BCH, DASH, XLM, XRP and alts though... Something tells me the correction might be over by the time I SEPA some cash into uphold
                  This is what bothers me about this thread; let's not pretend anyone called this correction, the period you guys anticipated it has been and gone. This is why I find the shoe shine boys in this thread hilarious - you don't realise what a caricature it is - EVERYONE is making money in a bull market, none of the judgement calls in this thread have transpired, the talk of head and shoulders patterns is borderline embarrassing. You need to accept your speculators like myself, in a bull market.

                  I'll stand corrected when a single prediction is called right.

                  Comment


                    Originally posted by TheGreenBastard View Post
                    This is what bothers me about this thread; let's not pretend anyone called this correction, the period you guys anticipated it has been and gone. This is why I find the shoe shine boys in this thread hilarious - you don't realise what a caricature it is - EVERYONE is making money in a bull market, none of the judgement calls in this thread have transpired, the talk of head and shoulders patterns is borderline embarrassing. You need to accept your speculators like myself, in a bull market.

                    I'll stand corrected when a single prediction is called right.
                    But what happens when it all ends?

                    Comment


                      Originally posted by ChimpMaster View Post
                      But what happens when it all ends?
                      There will be winners and losers, speculative bubbles are like everything else, only the timeline is condensed (I truly believe in "cryptocurrencies" as a technology tho)

                      Comment

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