Yeah. I bought some over the weekend. It's the kiss of death for any investment opportunity. I'd have warned you of my plans but it would have been considered insider trading.
BCH launched on Coinbase. Causing a huge surge in the BCH price (which most likely affected the BTC price with people swapping from one to the other). Then Coinbase stopped trading due to "insider information". Obviously, such things will happen and they're naive if they think their staff aren't going to go big on any imminent announcement. Price will likely stabilise (if it hasn't already) within 24h
Like Reids said, people sold Bitcoin to buy Bitcoin Cash (with probably a decent amount of insider trading going on). Just like Bitcoin with the sudden jump as futures approached, BCH will come down again soon too.
Wondering if it's people cashing out for crimbo. I've taken a hot on Bitcoin but still up on Ethereum. Starting to learn to stop looking at it and just play the long game. Everytime I've tried to play the market I've got burned.
This sort of dip was always going to happen to BTC after the last 10 weeks of almost ceaseless increases. With a large Korean Exchange getting hacked, wall street traders now able to short BTC via futures trading and other minor FUD issues, this is contributing to the dip. I wouldn't give investment advice to anyone, but if I had any spare cash right now, I'd be filling my boots at these bargain prices. I'd sleep like a baby thereafter, pretty confident that in jan the prices will recover to a new all time high. Just my opinion and definitely not investment advice.
That's my thinking also I'm in for the mid term. Taking quick profits whilst satisfying at the time was a mistake. I wish I had sat tight and I'd be buying in now. Some exchanges close at midday today until Tuesday so get in quick if anyone wants to trade.
Someone much cleverer than me who runs investment funds once told me it's not when you sell that's important it's when you buy.
Been reading this thread with interest from the beginning. Just bought into Bitcoin and Litecoin using Libertex. which is fixed zero spread and a commission using a multiplier Only using money I can afford to lose but giving me more fun than the football already
Thought we'd hit the bottom when I woke up and posted that. If i'd sold then then bought back in this afternoon I would've made myself a tidy 8 eth. Dammit.
Came back somewhat. My Ethereum gains are still subsidising my Bitcoin lossees. Whilst an investor would put more in to counteract the drop, this isn't an investment, it's a gamble. I'm comfortable with my current 5% exposure. Everything else I have is fairly low - mid risk. Advice seems to be there's some legs yet but I may well cash out if it gets back to it's peak of a week or two ago.
The thing to recognise is that mathematics dictates the cryptocurrencies will naturally accrue value over time. The cost of mining the coins will continue to go up and up as the hash difficulty for mining increases. This means anyone mining a new coin and selling it off is going to look to recoup those costs. That factor is the reason the coins went from nigh worthless at launch (when you could easily mine them with a home computer) to the level they're currently at (before the recent speculative bubble). The media did a bang up job of hyping up the scene a couple of weeks ago, and is now in full fear spreading mode after the dip. This will likely encourage more people to sell off as the fear spread, causing lower spikes. Sometime soon there will be an incredible opportunity to buy in and get more for your money before the currency gets back on track again. The important thing isn't to look at the day to day values - the market is far too volatile for that. Look at year on year and follow the patterns; it's all based on the underlying mathematics of the block difficulty. Unless a government steps in and breaks cryptos, some of them are going to be huge winners inside 10 to 15 years. Probably also worth noting that Goldman Sachs are planning on setting up a Crypto trading desk by June.
After a large dip which seems to have stabilised although no idea how to price this vs pricing of equities so who knows
Arakel has this. Crypto will be worth a fortune five years from now. Whether it's Bitcoin, Litecoin, Bitcoincash or Monero which is king is the question. People are saying this is a speculative bubble, but it will only burst if everyone stops needing crypto, which I don't see. I believe in the underlying fundamental of peer to peer. decentralised payments with no middle man. One or more of these coins will be the Facebook of 2025. One or two others might be Twitter, Youtube etc. and some will be Lycos, Ask and Myspace. The prices are also rising because up until 6 months ago, there were only a tiny percentage of people talking about this. Early, early adopters like Reids are cashing in, whilst those of us who got in earlier this year are still relatively early adopters. Once it becomes mainstream, the prices will go through the roof. Why on earth are people paying banks money to send money internationally, which leaves your account immediately and arrives in the recipient's account 5 days later? They could send litecoin and it would arrive in 2 minutes and cost pennies. Once the world wakes up to this then the prices will skyrocket. And that's not taking into account the myriad other applications for blockchain tech, some of which are genius and others which are simply band wagon jumping by ICO conmen who are damaging the integrity of the market with their spurious start ups. I believe in the market and the tech and so I'm investing, not gambling. I saw the dip today and dug out every penny I could find to buy more bitcoin. I know it will go back up and I'm comfortable with the risk. In fact it's already gone up 20% since I bought. 20% ROI for an afternoon's passive investment is pretty decent.
@reids - Hey! Merry Christmas, Would really appreciate some advice on this. I'd like to buy some IOTA, research has led me to Binance. From my understanding, I can only use a crypto to buy IOTA not GBP. All my crypto is in Bitcoin on Coinbase. I've tried to deposit some Bitcoin on Binance by sending it from Coinbase to the address provided, yet the "network fee" it's charging me is WAAAY too high to even make it worthwhile. I feel like I'm missing something here? Is there an easier way to do this?
Network fees on BTC are absolutely extortionate at the moment. Meaning to spend anything less than £75 you'll be spending 20 odd quid to spend it. Absurd and is now the reason I no longer have any BTC. Try swapping the amount of BTC for Eth on Coinbase, sending that to Binance and doing it that way!
These transfer costs and timeframes are the reason that there are groups who favour bitcoin cash over bitcoin. As a currency it makes far more sense, however it's nowhere near the mass adoption levels of btc. There are clearly big players and mining pools behind bitcoin cash though, so I've trousered 2 coins and will hodl them in case they ever reach the same sort of value as btc
Yes, absolutely. But I'm not against cryptocurrencies. Gold has a long, long history, these things do not. Who knows which way people will jump in the future? If people make money out of investments, then somebody else has lost money or will lose money. Are you the former or the latter? Those guys who advise on your investments are the ones in the big black cars.
Not quite true. The gains in crypto, hitherto are mostly becauee people are early adopters of a fledgling tech which is gaining more mass adoption. Sure, you could argue that the people who recently bought bitcoin at all time high are losers, but then there are likely to be NEW people buying at 20k a coin within 6 months. It's getting in on the act first and not last which makes the gains. I do realise that it could all crash to zero tomorrow but I am pretty confident that it won't
Keep a close eye on the markets over the next few days. There are a number of factors in play which could present a great opportunity to invest. 1. South Korea just announced they are cracking down on Exchanges. Expect to see CCs drop on the news (which has already happened overnight) and more selloffs to happen as some people panic. 2. New Year's Eve is approaching and some people are going to sell off to fuel their epic benders/parties. Again, expect to see drops (like we did in the lead up to Christmas). Couple these together and there's likely going to be a great window to invest over the coming days. Be ready to strike when it does! ...or, of course, nothing might happen. It's volatile, after all.
So I’ve set up a coinbase account. What should I buy and when? Am I best to hold off to see what happens tomorrow on New Year’s Day at the moment?
