Crypto Blowing Up

[james_112233]

Originally Posted by SaiJin

Yea, money = more money if you're smart about it and a little patient.

swap trading as in you sell ETH use profit to buy BTC when it's down, sell BTC, buy ETH etc?

I must be late, but I always feel as if ETH and BTC move together up or down so it's difficult.

[rsot]

Originally Posted by james_112233

I must be late, but I always feel as if ETH and BTC move together up or down so it's difficult.

Feels a bit like it as well but there are points of split movement

[Soundofsilence]

Buy when everyone is selling and sell when everyone is buying. This works best for me.

[SaiJin]

there's really no factual solid time to buy or sell, it's all a gamble based on educated guesses

[slokor]

All you can do is to try to learn and analyze the current trends based on past trends and make your move when you believe its at its lowest.
After that its all about patience. I had to wait 6 months to make the profit I just made - but was well well well worth it.

[agent006140]

$47,000 in plain English
forty seven thousand dollars

[slokor]

Originally Posted by agent006140

$47,000 in plain English
forty seven thousand dollars

Wasnt it in $29,000? or in plain english twenty nine?
Seriously dude why not just quit while youre behind?

[agent006140]

Originally Posted by slokor

Wasnt it in $29,000? or in plain english twenty nine?
Seriously dude why not just quit while youre behind?

yeah,I am behind,it is now trading at 42169.
if it breaks 40,000,it wil go to 37,000

[rsot]

Originally Posted by agent006140

yeah,I am behind,it is now trading at 42169.
if it breaks 40,000,it wil go to 37,000

How much btc do you own agent?

[JamesNorth101]

Originally Posted by SaiJin

Yea, money = more money if you're smart about it and a little patient.

swap trading as in you sell ETH use profit to buy BTC when it's down, sell BTC, buy ETH etc?

They tend to track together very tightly

[agent006140]

Originally Posted by rsot

How much btc do you own agent?

ZERO,but I do own some ETHE,very small amount,just to keep track of what is going on.
Bitcoin is so controversial,so it is worth following,as a trader,what goes up would come down,dont let your emotion get in the way,trading is not joining Elvis Presley fan club,everything is rosy and good !

[agent006140]

Did you read 2 Iranians hack into some company cloud account and ran up $760K bill mining bitcoins????
not that it has anything to do with Bitcoin decline

[slokor]

Originally Posted by agent006140

yeah,I am behind,it is now trading at 42169.
if it breaks 40,000,it wil go to 37,000

One lucky guess and throwing more figures out there does not make you a master analyst. It makes you lucky. Anyone serious would have at least added something coherent behind their figures (the way people like nate do).
It certainly does not wipe out your HUGE mistake calling people to sell when it was at $29k and it then went up all the way to $69k. Let me guess - your current advice is: SELL SELL SELL!
I might be inclined to actually communicate with you about this if I didnt know for a fact now that your total sum of investments in crypto is a big fat ZERO.
Enjoy the view from the peanut gallery pal cause you sure as $hit arent making any moves.

[agent006140]

Bitcoin and other cryptocurrencies fell sharply Saturday, another sign that investors were pulling back from riskier bets after this week’s stock-market selloff.

Bitcoin BTCUSD, -21.43%, the largest cryptocurrency by market value, was down 18% at $46,571.84 at about 7 a.m. ET, according to data from CoinDesk. It temporarily dipped to $42,000 before bouncing back. Ether ETHUSD, -16.54%, the second-largest cryptocurrency, was down close to 16%.

The declines were widespread across the crypto universe. Other widely traded cryptocurrencies including Solana, Dogecoin DOGEUSD, -33.22% and Shiba Inu SHIBUSD, coin lost more than a fifth of their value.

Disquiet in the stock market over the new Omicron variant of Covid-19 and the Federal Reserve’s response to inflation might have played a role.

Another possible factor accelerating the bitcoin selloff was the unwinding of heavily leveraged crypto derivatives, said Noelle Acheson, head of market insights at cryptolender Genesis Global Trading. She pointed to a large sell order that might have triggered margin calls and liquidations for investors.

The price of bitcoin seesawed later Saturday after El Salvador President Nayib Bukele, whose country adopted bitcoin as a national currency in September, said in a Twitter post that the country had bought 150 coins for an average of $48,670 each. “El Salvador just bought the dip!” he said. He later wrote that the country had “Missed the f***ing bottom by 7 minutes,” followed by a laughing emoji.

It isn’t the first time El Salvador has jumped into the market after a big price fall. The interventions have turned the tiny impoverished nation into an informal central bank that props up the digital currency, similar to the way mainstream central banks intervene in foreign-exchange markets to keep currencies stable.

The week was a roller-coaster ride for the stock market, with investors uncertain about the course of the pandemic and inflation. The Omicron variant has triggered new restrictions world-wide, just as travel was starting to bounce back.

Fears of another economic slowdown mixed with heightened worry by the Federal Reserve over inflation. Earlier this week, Chairman Jerome Powell said the central bank was prepared to pull back its easy-money policies quicker than previously expected, opening the door to raising interest rates in the first half of next year.

Higher rates make holding speculative assets such as bitcoin less attractive. When the Federal Reserve raised rates in 2017 and 2018, bitcoin prices fell dramatically, referred to among crypto aficionados as a bitcoin winter. The coin took off again during the pandemic. Bitcoin hit an all-time high on Nov. 9 of $67,802.

An expanded version of this story appears on WSJ.com

[slokor]

Thats not an analysis friend. Thats a copy and paste of someone elses article. Its not even an analysis of the situation - just the news.
Color me UNIMPRESSED.

[james_112233]

Not going to lie this sharp decline hurts.

Shiba Inu feels riskier than ever (although it has been making me money - guess I got lucky) so i'm considering taking a significant loss and pulling out of Shib just incase it drops even harder than BTC should bitcoin continue to decline and we are infact indeed heading towards a bear or a mini bear until everything goes back up in Q2 next year.

[agent006140]

Originally Posted by james_112233

Not going to lie this sharp decline hurts.

Shiba Inu feels riskier than ever (although it has been making me money - guess I got lucky) so i'm considering taking a significant loss and pulling out of Shib just incase it drops even harder than BTC should bitcoin continue to decline and we are infact indeed heading towards a bear or a mini bear until everything goes back up in Q2 next year.

all risky assets are now facing a possible melt down due to new variant,and the Fed,also how many investors need to raise cash to pay income tax,Elon Musk is not the only one.

https://www.marketwatch.com/story/a-...=mw_latestnews

1.1 billion of leveraged bitcoin positions and $2.5 billion of crypto leveraged positions (including bitcoin) have been liquidated in the past 24 hours, according to NYDIG
------
3.6 billions is not a BIG deal considered it has a 2.2 trillion cap
But there will be margin call .more panic selling it does not recover come Monday

[slokor]

Folks you heard agent speak.
SELL SELL SELL!!!!

[ebaystealth1974]

Big drop... damn! Down almost 30% in 4 weeks.

Looks like a good time for certain people to buy. Stand to make a nice ROI if it recovers in the next few months

[JamesNorth101]

Originally Posted by ebaystealth1974

Big drop... damn! Down almost 30% in 4 weeks.

Looks like a good time for certain people to buy. Stand to make a nice ROI if it recovers in the next few months

Its just the same old cycle - going to wait for it to bottom out then buy more

[slokor]

Agreed. Just another day in the crypto world.

[ebaystealth1974]

Originally Posted by JamesNorth101

Its just the same old cycle - going to wait for it to bottom out then buy more

What do you call "bottom out", before you buy more?