Is anyone else starting to become a bit excited?

jimmii

Bit of a bounce back right now. Imagine crypto markets paused when there was a 7% drop!

flexcon

Arrival wrote: »

When you've grown so indifferent with the dips and crashes crypto can have that you kind of laugh at your portfolio going way down. But I suppose the shock from the overall situation with the virus is playing a part in that reaction too. €5,000 Bitcoin again, absolutely nuts. Haven't bought more yet but will have to consider it depending on where it moves from here; surely won't be rocketing back up anytime soon, especially since the economy is going to be rocked now, COVID-19 is only starting basically and countries are only beginning to go into shutdown. Can imagine a lot of people, especially those who invested more than they can afford to lose, are weighing up selling their holdings in order to ensure they've the cash to keep going through these next few months

This.

I am literally this person.

fergus1001

Dohnjoe wrote: »

That drop is severe. Drops after an insane bull are understandable, but 30% in 24 hours two years into a bear is one of the biggest I've seen in the last 6 years. Has completely shattered any notions of crypto being a hedge against economic downturns. The excuses are already being spun though.

if it dropped below 4 id buy some for the craic

banie01

Dohnjoe wrote: »

That drop is severe. Drops after an insane bull are understandable, but 30% in 24 hours two years into a bear is one of the biggest I've seen in the last 6 years. Has completely shattered any notions of crypto being a hedge against economic downturns. The excuses are already being spun though.

Yep the hedge argument seems to be over for now.
Time for the the rollercoaster to keep us guessing!

themossinator

jimmii wrote: »

If you could let us all know just before that happens that would be awesome!

you're better off making your own decisions ime

unkel

JohnnyFlash wrote: »

If it’s any consolation, dudes, I lost my bollocks backing horses in Cheltenham yesterday.

At least you had a bit of deoch agus craic

I've no BTC and the little ETH I mine, I sell straight away. Thankfully my main alt coin went up 10% (and 40% against BTC) today

Dohnjoe

unkel wrote: »

At least you had a bit of deoch agus craic

I've no BTC and the little ETH I mine, I sell straight away. Thankfully my main alt coin went up 10% (and 40% against BTC) today

Pumapay..?

makeorbrake

Arrival wrote: »

€5,000 Bitcoin again, absolutely nuts. Haven't bought more yet but will have to consider it depending on where it moves from here; surely won't be rocketing back up anytime soon, especially since the economy is going to be rocked now, COVID-19 is only starting basically and countries are only beginning to go into shutdown. Can imagine a lot of people, especially those who invested more than they can afford to lose, are weighing up selling their holdings in order to ensure they've the cash to keep going through these next few months

We all think we would buy if it would only hit those low numbers again but when that day comes, it's not so straightforward right?

One thing this crypto gig has taught me over the last couple of years is not to over-extend and to leave some dry powder. However, I'm not inclined to use up that dry powder yet either. Going to let it sit for a little while and see how things are shaping up.

I still think that the digital gold aspect is not lost. Sure, it has been correlated with the traditional market in this dive down - but it could still respond differently over the coming weeks.

jimmii

themossinator wrote: »

you're better off making your own decisions ime

It was a joke you don't know where the bottom is better than anyone else. No one does.

Be nice if it were that easy!

FFVII

Blood bath in work today!

Group of lads being betting on the price btc going up and down for the last 6 months....they've being doing well but lost thousands today.

One lost 8!

grindle

Dose for them! I'm excited for sub €100 ETH and the slide in the last 10 mins makes me think it's near definite, gonna splooge my pants.

jimmii

FFVII wrote: »

Blood bath in work today!

Group of lads being betting on the price btc going up and down for the last 6 months....they've being doing well but lost thousands today.

One lost 8!

Ouch! This has been a bit unfair on the optimists not like those who were shorting were somehow trading smarter but theyve come out well ahead now mostly.

unkel

unkel wrote: »

Thankfully my main alt coin went up 10% (and 40% against BTC) today

And.............it's gone

I spoke too soon, that gain has almost completely evaporated now. Mayhem galore. At least there will be a lot more working from home the next while. I'm gonna try take things easy and relax a bit more, methinks.

Grumpypants

Cheaky little 2 ETH purchase just there €115 each. Will watch a bit now and get some more Bitcoin, might even grab some Bitcoin cash as it tends to jump in double digits.

Grumpypants

Couldn't help myself. Bought 2 ETH, 0.5 Bitcoin cash, 2 lite coin, and 20 Link.

Sold some shares last week before a 15% drop there so if cryptography bounces back it will be a nice little turn around.

Had sat kicking myself as they topped over the last few weeks so following through now.

JohnnyFlash

Holy shït.

Dohnjoe

Wow

JohnnyFlash

Tether trading at nearly a 5% premium after they printed another 500 million worth of magic money.

flexcon

Yikes.

Ok. I don’t understand how this works. I’ve lost too much now. I can only hope for this to return up and I’m out. This game stinks. Anxiety. ****. I’m done

sabat

Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.

JJJJNR

flexcon wrote: »

Yikes.

Ok. I don’t understand how this works. I’ve lost too much now. I can only hope for this to return up and I’m out. This game stinks. Anxiety. ****. I’m done

This is run of the mill stuff. I'm still buying.

Dohnjoe

JJJJNR wrote: »

This is run of the mill stuff. I'm still buying.

It's unprecedented. 40% in 24 hours is the biggest drop I've ever seen.

radiotrickster

Is now a good time to start buying then or do we think value won’t go back to pre-drop levels?

JJJJNR

Stuff I'm buying was already close to zero and has now gone as close to zero as you can get hence I bought. I wouldn't touch any of the top 400 coins atm.

Grumpypants

sabat wrote: »

Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.

No it isn't. The halving isn't until May so any uptick is a good but behind that. This is a shock but every market is tanking bar shares in bog roll.

flexcon

JJJJNR wrote: »

This is run of the mill stuff. I'm still buying.

Oh I get it. I’ve no doubt. But I don’t have the confidence or intellect to understand how in gods name it drops from 9K to 4.5K in less than 48 hours. It’s real money I put in there and it’s gone. It’s over.

I’m not going to sink because of this but all my
Play money is lost. Once it’s back up then I’m out and buying a play station or something I can actually enjoy for a few years of peace!

nyarlothothep

JJJJNR wrote: »

now would be a perfect time for Facebook to launch libra..

God no, they'll ruin a really cool space by monopolising it under a centralised surveillance sh1tcoin.

Arrival

sabat wrote: »

Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.

Shut up trying to make such concrete predictions as if you know it all, people who do that are fools, absolutely nobody knows where it'll go from here and how it'll turn out for certain. Your tone even seems like you may be getting some kind of pleasure out of this; if that's the case you're actually pathetic.

This pandemic was completely unexpected and many people who would've invested in Bitcoin are liquidating investments to cover emergency funds as these next few months are going to be dreadful. Everyone's priority is ensuring they're able to fully look after themselves and their families now, once everything bounces back we can actually entertain analysis and predictions again

Arrival

flexcon wrote: »

Oh I get it. I’ve no doubt. But I don’t have the confidence or intellect to understand how in gods name it drops from 9K to 4.5K in less than 48 hours. It’s real money I put in there and it’s gone. It’s over.

I’m not going to sink because of this but all my
Play money is lost. Once it’s back up then I’m out and buying a play station or something I can actually enjoy for a few years of peace!

It's not gone and over unless you sell and actually realise your losses. You're obviously new to this but you need to settle in. When you put money in you should've been doing so with the aim of holding it for multiple years, I personally decided minimum of 5 and I'll see from there. Everything else in the meantime is entertainment from the speculation

Can't be so emotional about money like this, as you say it won't sink you I assume it's only money you were willing to lose in the first place so just relax. Weak hands don't earn money long-term

JJJJNR

Kin is .000003 cent an absolute bargain.

unkel

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

JJJJNR

2900 then bounce.

Dohnjoe

unkel wrote: »

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

All total guesswork: when/if Corona situation starts to look better, would reckon there will be a jump to a point, then a hangover bear for a good long while

Regardless of traditional investments, who will want to go into something that can do almost 50% across the board in 48 hours - in reaction to something it was "supposed" to hedge against. Crypto's own "black swan".

Bob24

unkel wrote: »

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

Besides hand gel, every asset class is being dumped at the moment (even gold although it does best). So I'd say for the time being BTC I tight to coronavirus news and the stock market (meaning more losses). And I don't think technical analysis and support levels matter as much ATM - we are in panic mode on every market with many people who are selling to rase cash no matter what.

As to where it stops and how much it can recover ... no, I am not brave enough for predictions :-)

Arrival

q85dw7osi4lebg

Hard to stomach that today now. I've just bought big on BTC sub 5k, getting twice as many sats as I was two weeks ago is hard to wrap my head around. I'll probably hold off the DCA'ing now until the halving.

grindle

https://reason.com/2020/03/12/federal-reserve-promises-a-trillion-plus-in-short-term-loans-to-banks/

All makes for interesting times I guess!

Anybody thinking that the whole space disintegrates as vaporware makes as much sense as the people who think these are the days of World War Z. Businesses are going to go through a tough time, most people with capital are going to want at least some of their money outside of speculative assets to reinvest when there's a bounce and a sense of positivity.

Worst case scenario with this virus (imagine everybody becoming an carrier) is a huge amount of people 50+ with pre-existing conditions die. Terrible if it happens and we'd all know somebody touched by it, if not ourselves, if it happens - but the world continues to exist. Economies will continue to exist. Companies will still need investors. Any crypto that has a valid usecase will still be useful to people/businesses/organisations that want to use them.

Maybe that takes months if things level off as they are right now, maybe a few years if it gets Spanish Flu-esque. The world still turns, y'know?

Pintman Paddy Losty

Ha! I thought bitcoin was "digital gold".

I thought that it was a safe haven uncontrolled by duplicitous central banks and a great place to put your money to avoid a recession caused by the fiat system?

What is going on?

caff

Pintman Paddy Losty wrote: »

Ha! I thought bitcoin was "digital gold".

I thought that it was a safe haven uncontrolled by duplicitous central banks and a great place to put your money to avoid a recession caused by the fiat system?

What is going on?

Bitcoin and gold are illiquid, can't purchase things quickly with them. Cash and bonds are king right now.

Pintman Paddy Losty

caff wrote: »

Bitcoin and gold are illiquid, can't purchase things quickly with them. Cash and bonds are king right now.

I thought cryptocurrencies are revolutionising the way we make payments? Instantaneous, safer and cheaper than traditional banks?

Granted I haven't really been around these parts in a long while, but I presumed most of the barriers would have been removed by now? Is that lightning network not up and running? Has crypto not shown many valuable and effective use cases yet?

There's a global crisis at the moment. People all around the world are remaining in their homes. Surely now is the time for global digital currencies with trust built in to shine? No?

SteelyDanJalapeno

I love how a drop in price brings out the same old dregs in this thread

jimmii

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

You would think they would have better things to do but guess they're sat at home with nothing to do. Mods are going to be extra busy for a while!

makeorbrake

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

Take no notice - it's just sour grapes. I don't know how the germans came up with 'shadenfreude' first...would have been more apt for the irish to come up with it.

Gold has also gone down - as asset managers cover leveraged positions in the regular market. When a broader recession follows, it's logical that both will be hit as people scramble for funds to cover debts and expenses. It's what happens after that - that will be of most interest.

Grumpypants

Investments go up and down in the short term. But you should invest long term

Lex Luthor

I see a few crypto youtubers are now doubting the future big price action of BTC

The rest bite today was a welcome break but dont think we are out of the woods yet

I considered doing a small short last night before going to bed but it was too volatile...I woke up at 2am and had a quick look at my phone and seen the price was €3800, I nearly $h!t the bed

q85dw7osi4lebg

Lex Luthor wrote: »

I see a few crypto youtubers are now doubting the future big price action of BTC

The rest bite today was a welcome break but dont think we are out of the woods yet

I considered doing a small short last night before going to bed but it was too volatile...I woke up at 2am and had a quick look at my phone and seen the price was €3800, I nearly $h!t the bed

Crypto YouTubers are Bybit shillers and nothing else, a stain on the industry.

One or two make ok calls but I don't know anybody who called this drop.

Most are traders too with weak hands not hodlers like myself and a few in here.

Thargor

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

Its just the one dreg with two accounts. Remember when his boast about having and using multiple voting cards in a referendum didnt go down as well as he'd hoped then the other account suddenly appeared to say that he just happened to be a multi-voter aswell and it was totally normal lol

FFVII

Thargor wrote: »

Its just the one dreg with two accounts. Remember when his boast about having and using multiple voting cards in a referendum didnt go down as well as he'd hoped then the other account suddenly appeared to say that he just happened to be a multi-voter aswell and it was totally normal lol

Admin tools check alot. Even for writing similarities.

I'm sure he was reported by some on here so if he still here then....

Plus, I see nothing wrong with his posts, you just have to disagree with one or two on here to be a "dreg" whatever that is.

Lex Luthor

Addison Fancy Macrame wrote: »

Crypto YouTubers are Bybit shillers and nothing else, a stain on the industry.

One or two make ok calls but I don't know anybody who called this drop.

Most are traders too with weak hands not hodlers like myself and a few in here.

I've cooled the jets on any trading now....everything is on the Ledger Nano and I'm switching off crypto for a while.
I'll set up a few alerts on the phone app in case anything goes wild but yesterdays action was enough for the year

JohnnyFlash

jimmii wrote: »

You would think they would have better things to do but guess they're sat at home with nothing to do. Mods are going to be extra busy for a while!

I presume that is aimed at me. I've had to say it many times before, but I'll say it again for clarity - I don't take any particular pleasure in people losing money on this odious ponzi scheme. Not the rubes anyway. I do love the idea of sociopaths like Wright, Justin Sun, Pomp etc losing their bollocks.



What I don't like is how the rubes try to rope new blood into the crypto ponzi. This takes many forms - FOMO, the halving, fundamentals, 200 (or other random figure) DMA, distributed finance, store of value etc etc. They make this attempt to confuse new blood by using technical mumbo-jumbo that they don't understand themselves.



I've toned down significantly in my use of language to show how contemptuous I find all this.