Dnk Posted February 2, 2018 Share Posted February 2, 2018 (edited) When will the free fall end ? Have a few pounds spare to buy in but when, any pointers from crypto boys or is this just one big guess XRP nearly 35% down on the day and closely followed by the others Edited February 2, 2018 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Glanza_Mike Posted February 2, 2018 Share Posted February 2, 2018 A guess really but i'd wait until tomorrow Dunk see what happens, will probably drop more. This crash is just people selling as they're scared from hearing the news. The market will drop considerably more if Tether actually is a scam and gets shut down Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 2, 2018 Share Posted February 2, 2018 A guess really but i'd wait until tomorrow Dunk see what happens, will probably drop more. My head or gut feeling was saying the same Quote Link to comment Share on other sites More sharing options...
Style Posted February 2, 2018 Share Posted February 2, 2018 Also keep an eye on the news as well as it can give good indicators as to when things will start to look up. The market will not recover at the same speed as it has crashed so there should be a decent window to buy in to Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 2, 2018 Share Posted February 2, 2018 (edited) I was watching XRP and it had dropped to $0.62 and nearly bought in, 1 hr later its $0.77 but dropping back again now. And now very nearly back up to $1.0 !!! wish my balls were bigger to play this game Edited February 2, 2018 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Style Posted February 2, 2018 Share Posted February 2, 2018 Pretty much everything has jumped between 25-30% in under an hour. A bit strange Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 2, 2018 Share Posted February 2, 2018 XRP now U turned and dropping like a rock again Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted February 2, 2018 Share Posted February 2, 2018 A guess really but i'd wait until tomorrow Dunk see what happens, will probably drop more. This crash is just people selling as they're scared from hearing the news. The market will drop considerably more if Tether actually is a scam and gets shut down Given the enormous media hype which caused this huge crypto boom has waned, i cant see what would make it spike again. It will stabilise, and undoubtedly go up in value over time (and recede again), but if there was some solid evidence that it was going to spike then the price would already be increasing. The recent slump will make people much more reluctant to invest in future imo. I dont think this is a burst bubble, but equally I think the risk at the moment outweighs the reward somewhat. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 2, 2018 Share Posted February 2, 2018 Given the enormous media hype which caused this huge crypto boom has waned, i cant see what would make it spike again. It will stabilise, and undoubtedly go up in value over time (and recede again), but if there was some solid evidence that it was going to spike then the price would already be increasing. The recent slump will make people much more reluctant to invest in future imo. I dont think this is a burst bubble, but equally I think the risk at the moment outweighs the reward somewhat.And there you have it the perfect response from a how to not trade textbook for the public! If the media is talking positively, the hype is real and in your face 24/7 then the market is 'bearish'. On the contrary if there is negative press about a crash or the crash and people are running scared and selling up, then it's 'bullish' and buying time. Worth a read to try and understand some market movements. And no the bubble hasn't even approaches bursting. Once exchanges make it easier for normal people to trade and FIAT comes flooding in and we approach the $8-10 trillion market cap then I would be anxious. Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted February 2, 2018 Share Posted February 2, 2018 But that isnt going to happen without regulation, which itself will effect the value. I can also imagine taxes and strict regs being introduced to farming crypto currencies, due to the horrendous impact it is having on the environment, and the potential impact it will have on powergrids if it grows as you're anticipating. Itll be a cold day in hell when I start using what little free time i have reading about the aquisition of wealth , frankly it just isnt important, and often becomes a miserable, ruinous obsession. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 2, 2018 Share Posted February 2, 2018 But that isnt going to happen without regulation, which itself will effect the value. I can also imagine taxes and strict regs being introduced to farming crypto currencies, due to the horrendous impact it is having on the environment, and the potential impact it will have on powergrids if it grows as you're anticipating. Itll be a cold day in hell when I start using what little free time i have reading about the aquisition of wealth , frankly it just isnt important, and often becomes a miserable, ruinous obsession. Jesus you do read some bullshit. Bitcoin mining is extortionate power consumption wise agreed. What about Ether, or NEO or POWR? Have you studied those processes? Don't tar them all with the same brush. Fair enough 're the book. I have plans to retire at 50, happily and comfortably, and thus will find opportunities to do so. I wouldn't call that a miserable, ruinous obsession [emoji23] Just a clear life strategy. Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted February 2, 2018 Share Posted February 2, 2018 Are you denying that cryptocurrencies are going to become regulated? or that regulation is in itself a powerful market force? (Which, btw, is seen in every facet of economics) This is basic economics, something i learned in my first semester at uni Any platform which relies on electronic transactions, calculations, computations, networking etc is naturally going to use power. Maybe other platforms dont use anything like the amount that bitcoin does, and i wouldnt pretend to have the first clue to the extent, but its still going to have an impact. Hopefully people take the environmental impact of these investments into account before getting involved. I hope your strategy works out for you, i fully intend to work until I drop Quote Link to comment Share on other sites More sharing options...
SupraD06 Posted February 2, 2018 Share Posted February 2, 2018 Why would anyone want to retire at 50? Firstly I'd go insane without a purpose or some sort of drive every day, and two unless you have a few million in the bank what's the point. The average cost of living at a basic level without flashy items such as holidays, cars, bigger houses etc is over 25k a year so if you live to 80 your need 750k just to continue the same old lifestyle you have now. I doubt very much crypto currency is gonna make millions anytime soon. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 2, 2018 Share Posted February 2, 2018 Why would anyone want to retire at 50? Firstly I'd go insane without a purpose or some sort of drive every day, and two unless you have a few million in the bank what's the point. The average cost of living at a basic level without flashy items such as holidays, cars, bigger houses etc is over 25k a year so if you live to 80 your need 750k just to continue the same old lifestyle you have now. I doubt very much crypto currency is gonna make millions anytime soon.Great response [emoji23] You might imagine a sad life retiring at 50 but rest assured I have plenty of plans that don't involve a highly expensive cost of living. Clearly you hadn't read the thread and also understood the meaning of "risk capital" which I have only invested in cryptos. I have various other savings in S&S ISAs, Property, Final salary pensions and small management funds. If you take materialistic shit over a longer happier retirement then that's your rightful choice. No offence but are you just spouting shit out of your mouth? Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted February 3, 2018 Share Posted February 3, 2018 Cryptocurrencies are the epitome of materialism. How wealth is created is more important than wealth itself, theres nothing honorable about getting rich from morally dubious sources. These cryptocurrencies are currently being used to fuel terrorism, tax evasion, money laundering, drugs, black market arms etc, which will only be fought with state intervention, and as I said before, proper regulation. Quote Link to comment Share on other sites More sharing options...
SupraD06 Posted February 3, 2018 Share Posted February 3, 2018 (edited) I meant no offence by my comment neither did I speculate or assume you planned on a boring retirement. I was just curious as to why some people seek to have a deadline they wish to retire at. Like the post before mine, I fully plan on working as long as im able too. I have a second home I rent out, investments and other savings but i still intend on working, as id rather live off my income than use interest or savings. I also totally agree that materialistic items don't compare to happiness and health or time spent with family etc. Again no offence was implied or judgement on yourself, my only real point was that in my opinion this whole crypto currency being the b all and end all just seems unrealistic, I've read thousands of posts all over social media basically indicating people are selling second homes, 're mortgaging and taking out huge loans as they all believe they can become millionaires with this current craze that's going on. Maybe I'm just to cautious or sceptical but I can never except we will all be using a currency in the future that fluctuates daily. So your income or savings change week on week? No offence taken Edited February 3, 2018 by SupraD06 (see edit history) Quote Link to comment Share on other sites More sharing options...
rider Posted February 3, 2018 Share Posted February 3, 2018 (edited) Its an interesting time for crypto speculators, because thats what it is; definitely not an investment. The MSM does seem to be itching for a fall, nothing like getting to see lots of people burned to get the tabloid readers salivating. I'm certain there is still lots of scope for speculative returns but not so certain the 100 or even 10 fold increases will be achievable ever again. There were reports, albeit in the MSM, that the December rush was driven by the late comers desperate to get onboard and it was speculated, from search frequency results alone, that a great deal of the cash transferred to crytos was probably funded on credit. Thats clearly going to be unstable and these are the first to crash and burn when the value slides. So, if the MSM reports in December were indeed true then the smart money would have divested which leaves the remainder in an even more perilous state of collapse. By the end of March, we should know whether the MSM bubble predictions have indeed popped or if its just part of the speculative nature of cryptos where you will forever be up 20% on day and down that more or less then next day. I'm out with the jury on this one but enjoying being a interested voyeur on the developing situation. Edited February 3, 2018 by rider (see edit history) Quote Link to comment Share on other sites More sharing options...
T2 MSW Posted February 3, 2018 Share Posted February 3, 2018 Now Revolut have joined the party (all be it very late IMO) I have the options to invest in a select few crypto currencies. They also are trying to shake up the fees to process your transactions which is one thing that has put me off in the past as they are either complex or extortionate. Ive watched the prices for quite a while but never bought in, bitcoin at £300, £1k £5k etc thinking it will never go up any more - how short sighted. Im watching Ether with interest as if between now and March it continues to fall thats where I may invest. However will also be paying close attention to the regulation news and the stance of India, if they follow Chinas stance currencies may take quite a while to recover if at all. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 3, 2018 Share Posted February 3, 2018 Now Revolut have joined the party (all be it very late IMO) I have the options to invest in a select few crypto currencies. They also are trying to shake up the fees to process your transactions which is one thing that has put me off in the past as they are either complex or extortionate. Ive watched the prices for quite a while but never bought in, bitcoin at £300, £1k £5k etc thinking it will never go up any more - how short sighted. Im watching Ether with interest as if between now and March it continues to fall thats where I may invest. However will also be paying close attention to the regulation news and the stance of India, if they follow Chinas stance currencies may take quite a while to recover if at all. Revolut have offered cryptocurrency via premium for around 6 weeks. However, you do realise that purchasing via Revolut means you CANNOT actually withdraw your cryptos to an exchange? I.e. if you purchase Bitcoin on Revolut don't expect to be able to withdraw it to Binance, Bittrex etc to buy Alt coins. It's just an exchange value purchase that doesn't follow the true price closely enough. Also 're the fees they're the cheapest around. Exchange GBP to euros for one of the best market rates and send to gdax/coinbase/Kraken for purchases. Job done with minimal fees so what are you actually referring too? Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 3, 2018 Share Posted February 3, 2018 I'm certain there is still lots of scope for speculative returns but not so certain the 100 or even 10 fold increases will be achievable ever again. Sorry I couldn't disagree with you more. Many coins are trading at fractions of a penny or a few pence and will undoubtedly increase, regardless of how good the tech is, once more people flood in. Remember it's now tracking at $400bn market cap and the view from most crypto investors and serious traders is it'll reach $8+ trillion quite happily. Hell ADA is trading at circa 22p and it was 97p only a month back and has unbelievable potential. You will without a doubt see 100% and even 1000% gains as the market cap increases, choosing the right coins is the strategy for success and a lot of that can be guesswork. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 3, 2018 Share Posted February 3, 2018 I meant no offence by my comment neither did I speculate or assume you planned on a boring retirement. I was just curious as to why some people seek to have a deadline they wish to retire at. Like the post before mine, I fully plan on working as long as im able too. I have a second home I rent out, investments and other savings but i still intend on working, as id rather live off my income than use interest or savings. I also totally agree that materialistic items don't compare to happiness and health or time spent with family etc. Again no offence was implied or judgement on yourself, my only real point was that in my opinion this whole crypto currency being the b all and end all just seems unrealistic, I've read thousands of posts all over social media basically indicating people are selling second homes, 're mortgaging and taking out huge loans as they all believe they can become millionaires with this current craze that's going on. Maybe I'm just to cautious or sceptical but I can never except we will all be using a currency in the future that fluctuates daily. So your income or savings change week on week? No offence taken Fair enough mate and I totally agree there are some mental people ploughing all assets into the crypto game which is sheer madness. That said some of them have succeeded in making a fortune whilst many many others have and will fail. Cryptos will be a currency of the future. The issue at the moment is the Alt currencies are based on Bitcoin pairs i.e. BTC/NEO, BTC/ADA etc and therefore without many FIAT (GBP/Alt) pairings the fluctuations will always be far more significant due to Bitcoin mass appetite or rejection. I can pretty much with certainly say that as new exchanges arise with direct FIAT to Alt options (and there are a few in development) then the pricing will stabilise. More so when things become regulated and simply easier to transact. Quote Link to comment Share on other sites More sharing options...
marbleapple Posted February 3, 2018 Share Posted February 3, 2018 These cryptocurrencies are currently being used to fuel terrorism, tax evasion, money laundering, drugs, black market arms etc. So is every other currency including regulated onces. Sadly it is what makes the world go round. Quote Link to comment Share on other sites More sharing options...
T2 MSW Posted February 4, 2018 Share Posted February 4, 2018 Revolut have offered cryptocurrency via premium for around 6 weeks. However, you do realise that purchasing via Revolut means you CANNOT actually withdraw your cryptos to an exchange? I.e. if you purchase Bitcoin on Revolut don't expect to be able to withdraw it to Binance, Bittrex etc to buy Alt coins. It's just an exchange value purchase that doesn't follow the true price closely enough. Also 're the fees they're the cheapest around. Exchange GBP to euros for one of the best market rates and send to gdax/coinbase/Kraken for purchases. Job done with minimal fees so what are you actually referring too? /QUOTE] Yes aware you cant withdraw the coin currency its a buy and sell service only which is fine for me. And thats what I mean having to mess about exchanging it first then, then send to a coinbase service before you can buy or do anything. Revolut I can just purchase from the GBP i have in my account. And the tracking looks accurate to me !? Quote Link to comment Share on other sites More sharing options...
Marty Posted February 5, 2018 Share Posted February 5, 2018 (edited) Blah blah blah. This chart is pretty valid IMO and experience, investors should be aware of it We all know where Bitcoin is ... Quoted from my early December post. We are now around the Denial stage. You didn't have to be Nostradamus to see this coming after the btc bull run. Hope you all took profits. Things are going to get much worse before they get better imo, we need capitulation to occur (big sell off) before any signs of recovery and i haven't seen that yet, the value of a lot of cryptos is still ridiculous. If you're brave you could start accumulating now, but only cryptos that are on strong support, don't go all in, 10% at a time at very the most, expect them to drop, accumulate down. Edited August 14, 2018 by Marty moonbag delete (see edit history) Quote Link to comment Share on other sites More sharing options...
Sheefa Posted February 5, 2018 Share Posted February 5, 2018 I disagree, we're nowhere near that far ahead stage wise. My belief and that of many others is we're actually at the first sell off/end of awareness stage as depicted here. Appreciate we have had the media attention to go with BTC but not other Alts and this market on the whole is still inaccessible to most. We have some new tech exchanges like NEX coming on stream enabling Alt/FIAT non-BTC pairings which will be a game changer. I agree to load up now! Quote Link to comment Share on other sites More sharing options...
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