The Cryptocurrency Investing Discussion

[jpmartin]

I hear that Binance is open again to new customers, but I don't know what the current timeline is for getting verified...

You don't need verification if you're not going to be withdrawing more than 2 BTC.

 

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[jpmartin]

I'm personally not willing to put any of my money outside of my business right now - but my father is interested in investing in some cryptocurrency. Any advice on how to play it safe with a good bit of money? I was thinking he should buy some Bitcoin and Ether and then go in pretty heavy on one that is growing as well. Thoughts?

Don't put in any money you're not willing to lose 100%, without losing sleep. If you want to get your feet wet, use a strategy called scaling in or pyramiding. Basically its taking baby steps and building up your position as the trend improves.

 

[James Fake]

Lost an insane amount of money this past week.. besides that; I think Bitcoin should likely hit $8,000's. I will be staying completely away from the market until then.

Bitcoin and the market at the moment has no momentum at all which indicates bear still. =0

 

[jpmartin]

Lost an insane amount of money this past week.. besides that; I think Bitcoin should likely hit $8,000's. I will be staying completely away from the market until then.

Bitcoin and the market at the moment has no momentum at all which indicates bear still. =0

Why not $3,000?

 

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[James Fake]

$8,000 is more the "correct" price.

Back when Bitcoin was approaching $8k, everybody was calm and it was expected. The run to $9k, then $10k was un-expected. And of course; everything after that was way over-bought.

 

[biophase]

$8,000 is more the "correct" price.

Back when Bitcoin was approaching $8k, everybody was calm and it was expected. The run to $9k, then $10k was un-expected. And of course; everything after that was way over-bought.

My buys are still pending from 10 days ago. Lol

 

[steelandchrome]

My buys are still pending from 10 days ago. Lol

Coinbase?

Sent from my SM-G935V using Tapatalk

 

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[biophase]

Coinbase?

Sent from my SM-G935V using Tapatalk

Yup.

 

[steelandchrome]

Yup.

Never use coinbase, wire or ach deposit money to gdax and you can buy and sell with zero fees (as long as you place limit orders) and have immediate access. Same company as coinbase but the "professional" trader site.

Sent from my SM-G935V using Tapatalk

 

[biophase]

Never use coinbase, wire or ach deposit money to gdax and you can buy and sell with zero fees (as long as you place limit orders) and have immediate access. Same company as coinbase but the "professional" trader site.

Sent from my SM-G935V using Tapatalk

Now you tell me. LOL

Actually it was my last purchase of USD because I was done putting money into coins after that. I had to use Coinbase to get my USD into the market. I bought coins to then move to Bittrex. My plan was to move to Bittrex and get a couple smaller coins, so this delay actually saved me some money.

 

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[jimmeboy]

$8,000 is more the "correct" price.

Back when Bitcoin was approaching $8k, everybody was calm and it was expected. The run to $9k, then $10k was un-expected. And of course; everything after that was way over-bought.

@James Fend , what are your thoughts on the market currently?

 

[JohnD Realestate]

Thanks for the information. Love this thread. I knew nothing of coins till I came across this thread.

 

[James Fake]

@James Fend , what are your thoughts on the market currently?

Short term: I think we go down to re-visit $6k.. hoping $5.6k and getting this bottom over and done with. Ideally, we do a double-bottom which puts us on a healthy bull for a bit.

Long term: Strong possibility even a double-bottom won't save us. It seems the entire investment world is possibly about to (if not already) starting a market correction. Crypto is unfortunately not a safe haven quite yet and I don't see it moving inversely if US and Asia stocks are taking hits.

Could see sideways or bear for a month or two..

SPECIAL FOR INSIDERS:

As far as breakout coins; I really like XRP in the next few weeks. I think Robinhood launching their US crypto exchange will put major pressure on Coinbase to release XRP (and other alts) trading ability.

Can easily see XRP go 2x.. then I see Coinbase doing a landslide of the other alt coins they would release, so I would probably sniff out rumors and go sit pre-pre-pump. =)

I wouldn't quite go sit into XRP yet as it has a bit of dropping to do in my opinion. I think the best entry would be either LTC (depending on Litepay's launch timing) or XRP once (or if) Bitcoin and the market decides to bottom again.

Thanks to @TKDTyler - I've also began tipping my toes into Bitcoin shorting on Bitmex. So far so good; couple noob mistakes (no losses)... I have about $1,2000 I am using & have it inside a short position now banking on the $6k revisit.

If all goes well & I am able to pick up on Short Trading a bit... this will make me almost invincible.. muhahahaha! lol

 

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[James Fake]

I posted an actual chart of what I am thinking. @TKDTyler had the same thinking..

Crypto likely goes bear for awhile. The next big drop to $5.6k should be followed up to $9k to $10k run, then a month+ long slow bleed to maybe even $4k. Looking for bottom around end of March maybe, and then a reversal followed by slow trend back up.

Hoping for a good summer.

 

[steelandchrome]

Sorry, but TA without specificity really bothers me...

When you say, "The next big drop to $5.6k should be followed up to $9k to $10k run..." does that mean you think it will drop to $5.6K today? This week? Next week? The week after?

You predicted a "short term" drop to $5.6K last week. That never happened. Unless "short term" means longer than a week...

Nothing personal against you, but anyone can throw out numbers without time periods...there's a good chance those numbers will eventually hit if we wait long enough. I've yet to see anyone consistently predict crypto markets with QA...and I've been watching a LOT of people try...

I have never followed charting even in my stock market trading because it is so subjective. I trade crypto based off as much fundamentals as I can come up with, use cases, overall and token specific market sentiment, and hype. Anything else and even this sometimes feels like guessing
All ships rise at high tide and all ships drop at low tide generally but the best of the best may drop less and the worse of the worst WILL drop more.

My guess is we trade up and down 10-20% for a month or two and then breakout back positive if no major FUD comes out. I *could* potentially see tax return money and lower than recent prices tempting a lot of new small investors to enter the market or increase positions.

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[James Fake]

Sorry, but TA without specificity really bothers me...

When you say, "The next big drop to $5.6k should be followed up to $9k to $10k run..." does that mean you think it will drop to $5.6K today? This week? Next week? The week after?

You predicted a "short term" drop to $5.6K last week. That never happened. Unless "short term" means longer than a week...

Nothing personal against you, but anyone can throw out numbers without time periods...there's a good chance those numbers will eventually hit if we wait long enough. I've yet to see anyone consistently predict crypto markets with QA...and I've been watching a LOT of people try...

Hey sure. Here was the original chart in the other thread as stated. It, unfortunately, got blew out the water once Bitcoin decided to break $8500 last night.

The chart was my guess based upon how things usually recover from a big, long major bear.

I initially thought the sell-off would come off stronger on the $9k line, break below $7k and start another panic capitulation down to $5.6k which would of followed most major correction patterns.

However; that proved to be wrong!

I still do think a sell-off will come from a big mass of bag holders who bought in around the $10k "bottom" looking to get out, bottom not sure since things are fairly bull now. But I've been pretty off, so take that with whatever grain of salt.

 

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[million$$$smile]

My prediction:

Some are going to keep buying

And some are going to keep selling

And a few fortunes made and a few lost.

It's all relative

Spend only what your willing to lose.

Good luck all

 

[TKDTyler]

I posted an actual chart of what I am thinking. @TKDTyler had the same thinking..

Crypto likely goes bear for awhile. The next big drop to $5.6k should be followed up to $9k to $10k run, then a month+ long slow bleed to maybe even $4k. Looking for bottom around end of March maybe, and then a reversal followed by slow trend back up.

Hoping for a good summer.

@James Fend Was referring to this graph I drew up:

I was looking at 2014 Bear market in comparison to what the market is going through right now and it is oddly similar. I'll be looking for trend continuations between the two and use it as a benchmark of what to expect next.

Be careful at that 12k line - if it goes sideways and doesn't have any momentum to break, we may see another big pullback

 

[James Fake]

How about this: post one quantifiable prediction every day for next the 60 days, and we can actually see how well those do.

No thanks. For those that know my crypto resume; they know I'm the most anti-TA trader and carry a very similar sentiment to you. However; I also don't feel like I need to prove anything either, no offense.

Will just let it be for what it is.. However; I'm always down for a friendly game of 'who can get the most gains' competition. Realized or un-realized bottom line versus bottom line.

 

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[amp0193]

However; I'm always down for a friendly game of 'who can get the most gains' competition. Realized or un-realized bottom line versus bottom line.

I'm in...what are the rules?

 

[James Fake]

Lol @amp0193 !

@JScott - .. sure. I guess we'll just have to pick an end date (May 31st?). And whenever you want to start, can just post or DM total portfolio worth in BTC or USD. Whichever...

@Ungodly & @TKDTyler would likely want to join in too. Four-way competition? Last place loser has to... get their BTC private key tattoo'ed on the forehead? Lol.. 1st place winner gets 1 ETH or 1 LTC coin the other 3 have to chip in on?

 

[Tom.V]

The other 20% of my portfolio these days simply consists of ETH, NAS, VEN, XRP, XLM and ZRX.

Does this mean you exited ICX?

 

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[James Fake]

Hmmm... The problem is, about 80% of my portfolio is investments where I haven't yet received the tokens (tokens bought at pre-sale/ICO that haven't been released yet)...

Ah, no probs.. maybe just the monetary USD invested initially? All honor system lol.. There's a Slack chat for INSIDERS that's pretty active, I and many others would love to see you in there..

Ideal place to host our competition stats could create a private channel amongst the four of us.. @TKDTyler @Ungodly

 

[TKDTyler]

Let's just make this easy... Here's my current portfolio... The stuff in grey are tokens that haven't been released and/or received yet.

I'll post an updated portfolio every couple weeks or so...

J Scott Portfolio - 2/14/18

Have you looked into the HybridBlock token sale yet?

 

[IGP]

Let's just make this easy... Here's my current portfolio... The stuff in grey are tokens that haven't been released and/or received yet.

I'll post an updated portfolio every couple weeks or so...

J Scott Portfolio - 2/14/18

Baller!

 

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[James Fake]

@JScott - very impressive. You can peg me at 1.1 BTC after profits taken into bank account. So $10,600. =)

I'm assuming we are doing gains percentage on overall portfolio, right? Can't wait til May..

 

[CareCPA]

@JScott - very impressive. You can peg me at 1.1 BTC after profits taken into bank account. So $10,600. =)

I'm assuming we are doing gains percentage on overall portfolio, right? Can't wait til May..

I hope it's overall dollar value, and not percentage gains. Would make things more interesting since @James Fend seems to be more of a day trader and @JScott seems to be more of a buy and hold guy.

 

[amp0193]

I hope it's overall dollar value, and not percentage gains. Would make things more interesting since @James Fend seems to be more of a day trader and @JScott seems to be more of a buy and hold guy.

Would love to see 10k catch up to 800k. I'm gonna have to agree with @CareCPA

 

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[TKDTyler]

Nope, not familiar with it... I'll look it up... What do you know about it?

It’s a platform created by ex-Olympic figure skater Apollo Ono - they are trying to create a learning platform for crypto with a built in exchange.

I would say they are aiming at being the thinkorswjm of cryptocurrency.

I have some friends that are directly involved with Apollo as their investment consultants.

I believe it is 50k minimum + non US for presale

 

[TKDTyler]

@James Fend

I’ll leave my HPB ITC and bto investments and trade with 10k starting as well.

@JScott we would love to have you join the Slack group. I should be putting more info in this thread, but I’m much more active in there.