Cryptocurrency

[pr1]

I put £50 into LUNA just on the off-chance (a tiny fraction of my crypto pot). It had fallen from about $70 to 7c (0.07) so as we say down 99.9%. I bought at 7c and watched it slowly fall to about 1c yesterday. Every time I looked it had halved in value through the day.

It's now trading at $0.00007 - .007c. So I lost 99.9% and I think it has now lost 99.9999% of its original value. Not often you get to watch something fall logarithmically!

I think I win "worst trade".

HODL

[jamesbrown]

I just checked on my holdings of legacy fiat currencies and everything is massively up this week! Fiat currency to the moon!

[GJABS]

Not often you get to watch something fall logarithmically!

Well you got a free maths lesson out of it, so that's a decent consolation.

[AtW]

"Crypto bull market about to being until early 2025

The majority of market participants are not in the slightest bit prepared for what is about to happen. The sentiment is beyond bearish . Consistent media stories seem to have programmed us all to accept recession is coming, markets are going to crash, war is coming, the skies are falling, tides are rising, basically Armageddon.

It’s all true. Recession is coming. But let me tell you something about recessions, they are fantastic transfers of wealth. Recessions benefit those ‘in the know’ who accept change whereas those ‘resistant to change’ will find their wealth erode.

On to the TA…

The above chart is 3-day candles with almost 10 years of data.

The 3-day death cross is perhaps one of the most consistent reliable signals to take a long position within the crypto market. Yes, death crosses do not exactly scream ‘buy’, but that’s exactly what the 5% of market participants are doing. Did you know the top 100 Bitcoin wallets just added almost 20,000 Bitcoin to their wallets alone in the last 24 hours! Guess who sold it to them?!

While we only have two data points to examine, there’s a number of factors to consider:

1) A ‘incredible buy’ signal is printing at this moment (purple circles), it is yet to confirm. Once it confirms I’ll update this idea to ‘trade active’.

2) Those orange circles highlight the 3-day death crosses.

2a: price action falls below and rejects 3-day/50-day SMA (blue line).
2b: death cross prints.
2c: price action bottoms.
2d: Price action recovers 2-day/50-day SMA , the rest is history.

Is it possible price action falls further? For sure.

Is it probable? No.

A buy from $22.5k is amazing if you can get it, if somehow it is pushed down there. Don’t worry about the panic, just grab it with both hands. For the record, I’m already long, there’s no way I’m trying to time this market.

Good luck!

Ww

Type: investment
Risk: <=6% of portfolio
Timeframe: 18-36 months
Return: 800% minimum"

https://www.tradingview.com/chart/BT...il-early-2025/

[jamesbrown]

Scootie should watch out for those candles; his clown pants are flammable.

[d000hg]

Well you got a free maths lesson out of it, so that's a decent consolation.

Seems anything but free. The $50 or whatever it was I put in is currently valued at $0.39 - I had to tick the "show tiny holdings" box just to find it in my account

There are still presumably billions or trillions of these tokens out there... what happens when a currency loses all value? Can it simply be "turned off" or does it technically still exist, like Terry Pratchett's Small Gods?

Maybe it'll bounce back - this time next year Rodders.

[eek]

Celsius is "pausing" withdrawals A Memo to the Celsius Community. We are writing with a very important… | by Celsius | Jun, 2022 | Medium

Bitcoin has quietly dropped 20% since Friday (from $30,000 to $25,000).

[DealorNoDeal]

Bitcoin has quietly dropped 20% since Friday (from $30,000 to $25,000).

It's down nearly 65% since the ATH of $69k back in November.

https://bitcoincharts.com/charts/bit...m1g200zm2g25zp

[Fraidycat]

ETH was $1800 friday morning, current $1170

[d000hg]

BTC was holding steady at the previous low of 30k USD for a while, what happened to trigger the latest collapse?