Cryptocurrencies

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summerisle said:
Err.

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The problem is that the headline is either willfully misleading or ill-informed.

The crash yesterday wasn't because people got spooked by watchdog warnings, it was more a case of manipulation by big holders, the so-called whales. Their co-ordinated dumps always seem to originate in Asia. They sell off their bitcoin quickly resulting in fear in the market. At the same time (granted it could be coincidence... but isn't) the Whales start posting that they're worried this could dip to $XXX amount. Cagey new investors then start to sell, resulting in a massive sustained crash that even catches out seasoned traders by triggering limited sell orders. Once the price is low enough (usually below TA-predicted safety lines), the guys who initially started the crash buy back their initial holding and take out the profits in time for xmas.

The key to this is the recovery. The feared low isn't realised. The new, clueless investors see that it wasn't the bubble bursting and they learn the lesson that holding could've avoided that drop. The key is that they're not left 'spooked' enough to give up on crypto, so many will invest back in to recover any losses they made.

As long as crypto is in this bubble, we'll see this over and over again until it properly bursts.

Right now my crypto wallets are down £1.5k on what they were before this dip, but up on what they were this time last week - and in the interim I took out £1.1k that I made trading $BCH at it's high this week. I got in early with crypto and I'm playing with profit at this stage, so I'm happy to watch it ride out whatever way it goes over the next two years. I have a good wage, very little debt (car loan/small mortgage) and would absolutely not be in this with money that I can't afford to lose.
 

Ron Swanson said:
The problem is that the headline is either willfully misleading or ill-informed.

The crash yesterday wasn't because people got spooked by watchdog warnings, it was more a case of manipulation by big holders, the so-called whales. Their co-ordinated dumps always seem to originate in Asia. They sell off their bitcoin quickly resulting in fear in the market. At the same time (granted it could be coincidence... but isn't) the Whales start posting that they're worried this could dip to $XXX amount. Cagey new investors then start to sell, resulting in a massive sustained crash that even catches out seasoned traders by triggering limited sell orders. Once the price is low enough (usually below TA-predicted safety lines), the guys who initially started the crash buy back their initial holding and take out the profits in time for xmas.

The key to this is the recovery. The feared low isn't realised. The new, clueless investors see that it wasn't the bubble bursting and they learn the lesson that holding could've avoided that drop. The key is that they're not left 'spooked' enough to give up on crypto, so many will invest back in to recover any losses they made.

As long as crypto is in this bubble, we'll see this over and over again until it properly bursts.

Right now my crypto wallets are down £1.5k on what they were before this dip, but up on what they were this time last week - and in the interim I took out £1.1k that I made trading $BCH at it's high this week. I got in early with crypto and I'm playing with profit at this stage, so I'm happy to watch it ride out whatever way it goes over the next two years. I have a good wage, very little debt (car loan/small mortgage) and would absolutely not be in this with money that I can't afford to lose.
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@Kev The Rat likes this
 
Ron Swanson said:
The problem is that the headline is either willfully misleading or ill-informed.

The crash yesterday wasn't because people got spooked by watchdog warnings, it was more a case of manipulation by big holders, the so-called whales. Their co-ordinated dumps always seem to originate in Asia. They sell off their bitcoin quickly resulting in fear in the market. At the same time (granted it could be coincidence... but isn't) the Whales start posting that they're worried this could dip to $XXX amount. Cagey new investors then start to sell, resulting in a massive sustained crash that even catches out seasoned traders by triggering limited sell orders. Once the price is low enough (usually below TA-predicted safety lines), the guys who initially started the crash buy back their initial holding and take out the profits in time for xmas.

The key to this is the recovery. The feared low isn't realised. The new, clueless investors see that it wasn't the bubble bursting and they learn the lesson that holding could've avoided that drop. The key is that they're not left 'spooked' enough to give up on crypto, so many will invest back in to recover any losses they made.

As long as crypto is in this bubble, we'll see this over and over again until it properly bursts.

Right now my crypto wallets are down £1.5k on what they were before this dip, but up on what they were this time last week - and in the interim I took out £1.1k that I made trading $BCH at it's high this week. I got in early with crypto and I'm playing with profit at this stage, so I'm happy to watch it ride out whatever way it goes over the next two years. I have a good wage, very little debt (car loan/small mortgage) and would absolutely not be in this with money that I can't afford to lose.
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Cheers mate interesting stuff. I think your last paragraph is worth noting. Half the mania is the Facebook generation seeing everything as the problem or the solution with nothing in between. Be responsible and understand things is my motto.
 
Muggins said:
Cheers mate interesting stuff. I think your last paragraph is worth noting. Half the mania is the Facebook generation seeing everything as the problem or the solution with nothing in between. Be responsible and understand things is my motto.
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Pay no attention to the uniformed fear mongers that are the majority on this thread like @orly - these people do nothing but act as facilitators to the whales who can then pick up precious coins on the cheap.
 

Kev The Rat said:
Pay no attention to the uniformed fear mongers that are the majority on this thread like @orly - these people do nothing but act as facilitators to the whales who can then pick up precious coins on the cheap.
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I generally don’t listen to many people and instead form my own conclusions mate. Not sure why you’re arguing with so many people about all this, it’s a bit odd...
 
Muggins said:
I generally don’t listen to many people and instead form my own conclusions mate. Not sure why you’re arguing with so many people about all this, it’s a bit odd...
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Kev likes to take a contrarian view mate, he's been doing it for years. no accounting for taste and all that.
Mind you, if he's loaded, you'd think he'd buy a GOT mug to go with his Bit Coins !
 

Muggins said:
I generally don’t listen to many people and instead form my own conclusions mate. Not sure why you’re arguing with so many people about all this, it’s a bit odd...
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Good. Most people aren’t like that and will not make their own decisions unless they are told what’s acceptable or not. As you can see from some of outright terror tactics spouted on this thread. You’d think some of them were whales trying to pick up cheap coins.
 
Kev The Rat said:
Well this particular contrarian view has served me well so far.
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Absolutely mate, your 40 coins which cost you about 30k GBP are currently worth something like 450k, which is a staggering return.
Obviously when you cash them in you'll have a hefty CGT tax bill to settle, but that's a relatively small price to pay.

I trust you will be declaring any profits you've made on any sales you've already made mate ?
 
Woolly Blue said:
Absolutely mate, your 40 coins which cost you about 30k GBP are currently worth something like 450k, which is a staggering return.
Obviously when you cash them in you'll have a hefty CGT tax bill to settle, but that's a relatively small price to pay.

I trust you will be declaring any profits you've made on any sales you've already made mate ?
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LOL.

Grassssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss him up Woollo
 
COYBL25 said:
Grassssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss
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Correct, and I, literally, have a little black book from my moderating days :coffee:

On the one hand, it would be wrong to abuse the personal details gained from those days, but, on the other hand, as a loyal citizen and taxpayer who's paid his fair share of CGT over the years, it would be wrong not to help HMG collect taxes from the wealthy.

I'm in a real quandary here.
 
Woolly Blue said:
Correct, and I, literally, have a little black book from my moderating days :coffee:

On the one hand, it would be wrong to abuse the personal details gained from those days, but, on the other hand, as a loyal citizen and taxpayer who's paid his fair share of CGT over the years, it would be wrong not to help HMG collect taxes from the wealthy.

I'm in a real quandary here.
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Go with your head, not your heart Woolly.

You`ll be doing him a favour in the long run, as the next thing you know, he`ll be trying to buyEverton off the Mosh and Bill, using that dirty nonce money of his.

It`s bad enough having Sam as manager, without Kev polluting the club even more.
 

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