Bitcoin....who's gotten into it?

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Originally Posted by JimmyCarter

All short term too

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Doesn’t have to be.

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Originally Posted by 4matic

Doesn’t have to be.

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Anyone who has held for more than a year is still way up.

https://uploads.tapatalk-cdn.com/201...211603ddaa.png

I guess if you weren’t treating it like a slot machine you did fine huh?

I doubt it’s over. I’ve had my schadenfreude over these crashes many times but I’m not laughing at the idea now...

It takes a move of this magnitude to shake out weak hands when 10% daily range is common.

I treat stocks just like a slot machine - get the fuck out the door when you're up/don't get married to the motherfucker/ and know when take a loss and walk.

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Originally Posted by DJSapp

Shit is all over the mainstream media. It's over.

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I guess that is one way to look at it.

I bought more.

Probably not over with crap like LFIN holding up.

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Originally Posted by SkiCougar

checking in from the lucky bastard dept.

I did buy this year but given its ride up, I was up big and took all my initial out, so whatever happens now is the house's money. I'm only keeping the rest in just in case bitcoin becomes a universal currency as there will be a digital currency worldwide at some point.

this year, all my gifts will be bought with bitcoin sales profits.

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Ya

It will never be global currency.


Very idiotic comment

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Originally Posted by Bobby Stainless

I guess that is one way to look at it.

I bought more.

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So what happened that triggered this 40% correction?

1. BCH was picked up by coinbase (manufactured more currency from... nothing and then made it easily tradeable. What happens when Dogecoin is picked up?)
2. Coinbase is under suspicion for insider trading relating to the addition of BCH. Investigation underway
3. Mainstream media is all over reporting on crypto and the crypto bubble. Late game short money arrived.
4. More futures markets are opening up introducing institutional investors and manulipation
5. Year end profit taking and tax positioning is real - rules are changing and people have real xmas bills to pay

This market for crypto has been completely fueled by emotion, and all it takes is a few cows getting spooked to trigger a stampede. Too much money got in late and now people are looking for the door. If you're long and don't care about missing this peak, then by all means stay long. If you were a short game player, it's over for now. I'll probably grab some after the dust settles in early 2018. I'd image bottom for BTC is probably around 5-6k

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Originally Posted by ICantLogIn

Im still up but lost some $$ off the top. Either way its a great learning tool to go through.

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laughing my ass of. I am sorry for your losses and everybody else's, but jesus christ, people have been screaming bubble from the roof tops, and this is a learning experience for you? this is what it takes to learn a lesson?

some people will make more money on bitcoin, a lot of people will lose more. i'm sure it will go back up again, but it will crash again, and sometime after a lot of volatility, it's real value will sugar off.

Watching the trade history on gdax this morning is unbelievable

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Originally Posted by DJSapp

So what happened that triggered this 40% correction?

1. BCH was picked up by coinbase (manufactured more currency from... nothing and then made it easily tradeable. What happens when Dogecoin is picked up?)

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Everyone will be worshiping MY doges


The dogecoin is the most likely choice for the new petro dollar

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Originally Posted by whitekingsalmon

Watching the trade history on gdax this morning is unbelievable

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Lots of traffic on that site; it won't load now.

I can’t imagine being unhedged long futures with exchange closed for three days. It could go limit down for days.

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Originally Posted by DBdude

laughing my ass of. I am sorry for your losses and everybody else's, but jesus christ, people have been screaming bubble from the roof tops, and this is a learning experience for you? this is what it takes to learn a lesson?

some people will make more money on bitcoin, a lot of people will lose more. i'm sure it will go back up again, but it will crash again, and sometime after a lot of volatility, it's real value will sugar off.

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Yeah thats how it works it goes up and it goes down. Like real estate or USD or the S&P (down right now) or the price of gas..... By learning I mean reading charts and seeing my analysis come true in real time even after I was thinking that that could never happen. Still making money.

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Originally Posted by ICantLogIn

Yeah thats how it works it goes up and it goes down. Like real estate or USD or the S&P (down right now) or the price of gas..... By learning I mean reading charts and seeing my analysis come true in real time even after I was thinking that that could never happen. Still making money.

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If you are using chart analysis are you still long? If so why?

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Originally Posted by ICantLogIn

Yeah thats how it works it goes up and it goes down. Like real estate or USD or the S&P (down right now) or the price of gas..... By learning I mean reading charts and seeing my analysis come true in real time even after I was thinking that that could never happen. Still making money.

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Has any of that gone up 1800% in a few short months like this crypto crap?


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Originally Posted by Kinnikinnick

Has any of that gone up 1800% in a few short months like this crypto crap?


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USD index had one if the biggest annual moves in history 2017. Down 10%.

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Originally Posted by 4matic

USD index had one if the biggest annual moves in history 2017. Down 10%.

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Jesus!! He’s right the USD is exactly the same as the BullshitCoins
10% is more or less the same as 1800%, 5800%

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Originally Posted by Dromontana

Don't underestimate the power of momentum. I wired what I had deposited back to my bank when the macd on the BTC daily started to turn down on the 19th. Left profits in btc that are now stuck in a transfer since the 20th. The coinbase 'insider trading' is just a symptom of the mania, nothing more.

The futures opening allowed guys like Winklevii to hedge their positions, effectively cashing out at the top as they used their coins to backstop futures sales to institutional types. This was all explained ahead of time:



https://medium.com/@mbozzello_10052/...t-e7138eb21358

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Do you think any of the USA Today reading crowd knows about this? All they hear is bubble, insider trading and see the market falling. This is emotion, and that drives markets more than facts.

People often change timeframe on investment to justify losses. It’s human nature.

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Originally Posted by 4matic

If you are using chart analysis are you still long? If so why?

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Im a noob but I see lots of volume and a long wick on the daily. Its a healthy dip, its good. If you see a flaw in my TA let me know. I also think it could go lower btw I have usd waiting.

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Originally Posted by ICantLogIn

Im a noob but I see lots of volume and a long wick on the daily. Its a healthy dip, its good. If you see a flaw in my TA let me know. I also think it could go lower btw I have usd waiting.

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What time frame are you working and what is your risk rule? Like I said earlier if you were working off the weekly chart simple Fibonacci retracement to 38% would be around $13k give or take.

As I have said. My opinion is the parabolic runup was potential market makers getting long in size to front run CME futures. GS ready to make a market etc.. If that is the case then panic selling is just what they needed (and anticipated) to establish fully hedged books.

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Originally Posted by Kinnikinnick

Has any of that gone up 1800% in a few short months like this crypto crap?


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Gateway Industries.
VW went up 93% in one day
Are you looking for exactly 1800% if not how about over 1000%?
Cummins
Joy Global