Bitcoin / Cryptocurrency Discussion (And Predictions)

[JohnBuffet]

Thanks for the great info guys. I have a few questions. Bitcoin dropped now to 9,487 as I am typing. Is it time to buy? Or should we wait to see if it dips even more? I was about to buy some last night when it was over 10k, but i heard it was going to dip so I didn't. Is right now the time, or will it go down more?

2- Do you guys who have experience suggest buying bitcoin, ETH, Litecoin, or something else all together? What is the best way to make use of this bubble?

 

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[melissa_summers]

I agree that it's hard to ignore when something starts to cost four times more, and various financial analysts say that this cryptocurrency will grow two times. Bitcoin and similar currencies can offer investment opportunities in the future, but these are nothing more than speculative rates that investors should fear or completely avoid. It's my opinion. Cryptocurrency forecasts are very attractive, however, the significant risk of losses is not compatible with reasonable investment for long-term purposes.

 

[MrYoshi]

Nice to see this forum embracing crypto. Hadn't been here in a while I should probably write an update thread on my progress and how things have been going. Been in crypto since late 2013 and my alts portfolio is at or near 7 figures now although some lack liquidity at the moment I have high hopes for all the coins I hold. At one point I had 140 Bitcoins but that was while BTC was hovering in the $3000-3500 range

Wow, that's awesome. Did you trade full time in order to achieve these results? Also, what are your thoughts on finding success within this space while working full time or running another business? I ask because I can't stop thinking about jumping in as a trader full time, but I also want to figure how to invest in alt-coins.

View: https://www.youtube.com/watch?v=SNF_amBSbBg


That guy above is beast and I've just started looking into crypto this week.

 

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[bringitnow28329]

Investing and trading are very different.

Wow, that's awesome. Did you trade full time in order to achieve these results? Also, what are your thoughts on finding success within this space while working full time or running another business? I ask because I can't stop thinking about jumping in as a trader full time, but I also want to figure how to invest in alt-coins.

View: https://www.youtube.com/watch?v=SNF_amBSbBg


That guy above is beast and I've just started looking into crypto this week.

 

[MrYoshi]

Investing and trading are very different.

I am truly a noob within this space, forgive me.

 

[MrYoshi]

I agree @Vigilante. As MJ said earlier in another thread.. low downside, unlimited upside. Not many markets like this come around often in history.

It's like keeping your star QB on the bench. He might have a bad game or two but he's going to bring home the trophy. And yes, your star QB has a shelf life.. he can't football all his life. So you take those prime golden years and you & him make the best of it........ and then you trade him to the Jets.

I'm really trying to figure out what is the best approach for someone who only has 1-2k to spend. I think Bitcoin is obviously an awesome thing to invest in, but I also want to be involved with other alt-coins.

 

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[jsk29]

Well that's the idea. LTC was born in 2011 and fixes many of the issues Bitcoin has with regards to security and transaction speed. Bitcoin Cash is a weak attempt to circumvent Litecoin but since it shares the same block time as legacy Bitcoin it is still slow AF. Bitcoin Cash is only worth more because of the name recognition...it pales in comparison to the utility of Litecoin. The whole purpose was to be the "silver" to BTC's "gold."

A few points I gathered from a post on Reddit to help make my case:

1. Litecoin has segwit, Bitcoin cash does not.
2. Litecoin has cheaper transactions
   
3. Litecoin is smart contract compatible, BCH is not
4. Litecoin is atomic swapping compatible, BCH is not
5. More stable community of investors who understand the value behind LTC. Less drama = Less volatility. Litecoin has proven relatively unshakeable in times of crisis.

In terms of who has the healthier chance at ending up on top when we reach widespread adoption, LITECOIN is it. It has a large market cap (In top 10) of all cryptocurrencies and is one of only three coins to be traded on the world's largest exchange (Coinbase). There are billions of dollars waiting to pour into the market in 2018 and Litecoin is poised to finally capture the attention it deserves.

One problem worth noting:

1. The creator of LTC, Charlie Lee, has neglected to energize investors, and as a result the coin lacks in marketing pull. This is starting to change now but I think he's more geek than businessman.

From what I understand (which isn’t much) Bitcoin is lagging behind in tech compared to many of the newcomers. And it’s deviated quite a bit from the original white paper.

I’ve checked out the white papers and GitHub repos for a few of the alts (eg. iota, zcash, ripple) but they’re currently beyond my technical scope.

Are there any resources you recommend to get up to speed on understanding the tech deeply?

So far Ive just been reading through Mastering Bitcoin by Andreas Antonopoulos. My goal is to transition from web dev to blockchain dev within a couple of years.

 

[JohnBuffet]

Good post.. im not too clear on what you meant though.. at around 3 or 4 the price should go up or down?

 

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[James Fake]

1. If my previous theory of Americans buying on credit was right, this latest panic sell should hit it's low around noon and I will short the swing up that will come after it roughly around 3-4pm. Today's is not as big as yesterday's or the day before; however, its still happening.. right on time like clockwork. (I am going to say I was correct on my theory lol)

Sorry guys, my bad.. the panic selling from Americans on credit looks to be over. This last wave of them (the stronger ones who took the just 'hold it through' advice) would only have sold this morning IF the price was lower than $9.8k; the last price they saw when they went to sleep. It rallied over-night; they woke up, sigh of relief, and resumed with their day.

 

[TKDTyler]

Good post.. im not too clear on what you meant though.. at around 3 or 4 the price should go up or down?

Large market movement corresponds with a lot of volume, usually correlated when people are just beginning their day. This corresponds with around 5-7am PST when America wake up and then again towards 3-6pm PST when the large Asian markets wake up (Korea, Japan, China). Whether the market goes up or down is for you to decide though

 

[James Fake]

I'm going 100% into Eth today at $454.. My guess is it will start it's rally up here in about 3-4 hours. My off the top head guess would be at least $490 by later tonight. Depending on what BTC does by then, it may go higher..

Good post.. im not too clear on what you meant though.. at around 3 or 4 the price should go up or down?

For what coin?

 

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[JohnBuffet]

I'm going 100% into Eth today at $454.. My guess is it will start it's rally up here in about 3-4 hours. My off the top head guess would be at least $490 by later tonight. Depending on what BTC does by then, it may go higher..



For what coin?

Not buying any bitcoin? I am assuming bitcoin is going up again, especially after all of the hype. And whats is your opinion on buying with credit cards? I know coinbase adds a 2-3 percent fee, but you get the coins a lot quicker than the 10 day transfer from the bank.

 

[windchaser]

December 1, 2017:

Upcoming Winner: ETH

Cryptical Analysis (yes, I just coined my own term lol. This is analysis that technical analysis or market analysis can't explain. It's only found in the crypto world):

Love the term!

. During Btc's wild ride; I spotted Ltc and Eth severely lagging behind. Btc way up, Eth/Ltc up (but not way up). Btc way down, Eth/Ltc down (but not way down). Ltc had much more lag behind Btc than Eth and I knew a break-out to "catch up" had to come very soon. I bought in 100% into Ltc cause it had more upside. Waited and waited and waited (meanwhile I was missing out on profiting off huge Btc swings): I sold at loss for $600 right before this morning's rally. I lost, but not really. I pat myself on the back for a great call, I got an unlucky break at timing. Eth is up next.

I agree, and not only in the short term. ETH is by far my favorite crypto, (for medium term). I am following the strategy of buying in lots taking advantage of dips (like the one yesterday). I am also considering a couple of smaller coins that look promising, and enter during the next dip.

 

[JamesDB]

For the guys who daytrade bitcoin, how do you manage your risk, your stop loss in partical? The spread is at some times up to 100$...
300-400$ stop for a trade?

 

[bringitnow28329]

A dip to $87-90 in LTCUSD could setup a nice trade back to the high around $104, with a potential to take half at $103.50-104 resistance and then the other half into the breakout into the $108-110. Of course these thing will follow BTCUSD for the most part so you have to use that as a gauge to determine your exits and how you manage the trade with regards to trailing your stop loss.

Now if people keep smoking crack and decide to keep bidding up BTCUSD from it's currently level then the breakout to new highs could come with out the dip to $87-90 . In this case I will play the breakout of $103.5 but I will size my position smaller (due to the increased downside risk from a lack of a pull back and buying into the highs) and will look to exit into the new group of Coinbase users and other suckers that are late to the party) which don't know how to read a chart or understand the psychology of how traders make money by profiting off the poor decisions of the uninformed.

Still waiting on Eth... patience in not selling out early for less profits & waiting for prediction to fulfill itself. Since it's up; I went ahead and put in stop limit order to guarantee profits if it dipped crazy low while I sleep. The good news; Bitcoin can't just balloon up out of control without Eth's price following it (sometimes it doesn't but most times it follows)

With that said, @TKDTyler has offered to volunteer as the tribute and sell his Eth early which he has declared will jumpstart the rally to catch up to Btc and Ltc

One small thing to watch for... A pattern called a 'cup and handle'.. all three are primed for one with Btc having slight edge in upside of greater gains. This cup and handle pattern will complete if:

1. Over the next three days; the price of Bitcoin slowly drops to around ~$10,300 to ~$10,600
2. If it does; on the second or third day, it would start a fairly good sized bully rally.

Check it out on the 6hr candles...

 

[JamesDB]

These main cryptos BTC, ETH, LTC are fairly liquid until volatility strikes and then the spread can widen significantly. This is where you risk is the highest but also where the fastest profits can be made. You kind of need to treat these more like options where you are putting up a premium of say $5k which is your max risk, but then you can use a stop loss to limit the risk to say $1k.

Yep, but taking a risk of 1k and aiming for 1k even 2k is giving you 1:1(2) RRR, its not my style, especially with the other risks that are considerably higher (but nobody seems to care about). So at that point I would never think about transferring more than 10-20k.

Maybe its old-fashioned, but it just reminds me way too much of the FOREX hype we had and with all the brokers popping out and disappearing.

Let's see what the CME or CBOE will bring out.

 

[ColbyG]

Here's a few points that I think could provoke some interesting discussions.

1. When would you say Bitcoin is stable enough to actually use it to buy everyday products? I.e. when is it no longer an investment? Is it a dollar amount? Is it an adoption amount? Or would you never use it for purchases?

2. Assuming Bitcoin becomes mainstream money, it actually doesn't matter what the price of Bitcoin is, it only matters how many Bitcoin you have since everything is sold in Bitcoin and the dollar is irrelevant/worthless.

3. What will happen to fiat currencies (and the people with a huge amount of fiat) when Bitcoin achieves significant mainstream adoption? e.g. 35% of all transactions are done in Bitcoin. Keeping in mind this is more along the lines of a 15 year timeline versus a 2 year timeline.

 

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[B. Cole]

Bear with me, been following this for a short while and thinking about conservatively going in...but like most former slowlaners, I find myself vetting and shedding slowlane thinking habits.

In all of this craziness and volatility on the big 3, anybody messing with XRP/Ripple? Any thoughts of ripple being a medium in the US economy the government can control for those afraid of walking around the big banks completely with BC/LC/ETH?

At some point the block chain technology will begin to normalize, the question to answer is whether the US will pull the control card and XRP/Ripple becomes the approved in house currency. Is the end game to have a shit ton of different coins, or will the world unite and have one currency? This is a huge thought and paradigm shift toward global economy blending, one I can’t wrap my head around yet.

Just can’t help but think that at some point, governments will create laws to pick accepted currencies in their borders (think China and Japan, one says crypto is of no value within its borders, the other embraces it). This war over who gets screwed and who is approved for acceptance could mean billions made and billions lost all over, a new wave of volatility. Of course there will be a conversion period as people shift to the accepted brand, but right now it seems, at least to me, that everyone is playing with different flavors of Monopoly money, and in the end, earth will perhaps have to pick one. Perhaps in the next decade the market will only have a few survivors and make it easy. Perhaps we see many more new coins created, or perhaps we witness a forced adoption before there are too many.

Very excited about these prospects. Thoughts?

 

[mike24601]

 

[gileneusz]

I would bet all my money on short on bitcoin. I've found this article 5 Ways to Short Bitcoin

 

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[Mineralogic]

Its gone mainstream, the end is near.

Definitely time to be aware/finger on trigger. BTC has very little reasons to be at 11k up here so quickly

 

[Mineralogic]

Was speaking to one of my friend's mom and uncle who are looking to invest in the crypto space. It was interesting hearing their point of view:

They are interested in holding long term, but instead of investing heavily in the big 3, they want to invest in mostly alt-coins that are around $1 because "all it takes is one of them to go to $1000 and we are set!"

Reminds me of penny stock mentality... Sends off some red flags in my head.

I feel like we are shifting from trading crypto into trading against human emotion now. Much different ball game if you don't hold long term

correct

 

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[B. Cole]

A huge weakness any of these futures coming is that they are only focused on Bitcoin.. lol. Noobs. They are in such a rude awakening.. Like any of us crypto traders who's been in the game long enough don't know whale'ish signs or the classic pump & dump.

They are locked. Mobility & liquidity is something in this game that the financial world has never seen. Fiat to hedge coin to Bitcoin back to fiat to another alt in the matter of a heart beat.

Sure, they can win the shaky hands of new investors who know no better (we all can), but they aren't taking no money or coins from the seasoned whales or traders (it'll actually be quite the opposite). I really just can't wait...

With that said; my first move I am in the research phase on is: What alt coin is going to explode when profits are pulled out from under the rug on CME, etc?

I am leaning towards Bitcoin Cash going up to $2500+ by the end of the year... that and Eth and Litecoin will gain a bit more ground of independence and develop more power against obvious Bitcoin pump & dumps.

Been following ripple a bit. The two mindsets of people tend to be either afraid of it altogether or FOMO. If ripple continues to be conceived as the bank friendly crypto, and banks adopt it because of its advantages over both Bitcoin and Ether, could that lock ripple in to at least go as high as Bitcoin has? Thoughts-

 

[mThree2K]

Been following ripple a bit. The two mindsets of people tend to be either afraid of it altogether or FOMO. If ripple continues to be conceived as the bank friendly crypto, and banks adopt it because of its advantages over both Bitcoin and Ether, could that lock ripple in to at least go as high as Bitcoin has? Thoughts-

My guess is that they will have to pitch ripple to banks quite hard because they always tend to develope their own stuff, although badly executed and always thinking about themselves.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

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[Ahmet1054]

Hi everyone, just landed on the thread.
If some people want to rack up some knowledge about investment before buying any crypto, if you have doubts about investment, you should read:
_One Up one Wall Street by Peter Lynch
_The Intelligent Investor by Ben Graham (Warren Buffett's former mentor and BFF)

--> Buy and hodl is the better strategy about crypto currencies, you SHOULDN'T buy when it's down and sell when up... too risky
--> Settle a strategy and stick to the plan on a long run (say 3 years)
--> dollar cost averaging seem to be a safe path: invest the same amount of money onto crypto every month

 

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[tristano]

I think Bitcoin will perform more. It will reach new high and I don't think oxen park invested in it yet. Usually the end is when newspapers' first page writes about the "event"

 

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[Gonzalo]

I’ve seen bitcoin since it was in the $3000 and I’m really amazed how far it has grown. It really looks like it has a great potencial. however, I’m seeing a lot of new people getting into it ( like me) with comments like “I sold my 401k and invest it all in bitcoin” or “let’s keep buying we all gonna be rich soon” and it makes me wonder if this is a good thing at the moment.
I’m not an expert at this, but seeing that so mAny people think that it will get all of them a lot of money soon makes me doubt a little. It has already made a few people rich and increase their income, but is it gonna keep doing it now that it go mainstream? More people buying more money can be made, but I’ve read there is a new thing coming this week, what’s your thoughts about it ?

 

[Vigilante]

$13,325+

 

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[Coalission]

Oh man, hanging curve ball!!!!

View attachment 17077

Crazy thing is Tim Draper made that prediction that "Bitcoin will hit $10,000 in 3 years" back in September 2014, when it was trading in the $400s.

 

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[MrYoshi]

Lol, so much for the dip. I don't see the point of putting down $1000 bucks on this anymore. I gotta wait for some sort of correction until I can put at least $1k in it.