bitcoin trading.

Options
1…1011131516…42

Comments

  • BananaRepublic
    BananaRepublic Posts: 2,103 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Options
    4_Pete's_Sake wrote: »
    I apologise for using the term "invest" in the same sentence as a CC. It is off course a complete gamble and just like the dotcom boom it is a bubble that already seems to have an unrepairable puncture. Both ETH and BIT down another 10% today even on high volume.
    BIT - $12200
    ETH - $1150

    I guess the question is who is selling. Is it whales (holders of huge quantities) or minnows.
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    edited 17 January 2018 at 3:54AM
    Options
    An increase in volume used to send the price of Cryptocurrencies (CC) soaring, but now increased volume sends the price of CC plummeting. My guess is that more holders of CC are now looking for the exit whilst they are still in profit hence the big increase in volume.
    Price now of :
    BTC - $10896
    ETH - $969
    Further drops of over 10% in the last 14 hours.
    Enter this game at your peril.
    Can you catch a falling knife?
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • sstjc
    sstjc Posts: 22 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Cryptos have always recovered before but it needs a lot of nerve to hold tight and see what happens. Your probably right that many are bailing out. Hopefully fortune favours the brave. Having only recently taken the plunge i'm holding tight.... for now !
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • System
    System Posts: 178,095 Community Admin
    Photogenic Name Dropper First Post
    Options
    sstjc wrote: »
    Cryptos have always recovered before but it needs a lot of nerve to hold tight and see what happens. Your probably right that many are bailing out. Hopefully fortune favours the brave. Having only recently taken the plunge i'm holding tight.... for now !
    Not when a bubble bursts!
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    Options
    It's dropping like a stone, get out if you can!!
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    Options
    Cryptocurrencies are still struggling to bounce off a fake bottom. Those who bought Bitcoin at $19500+ have a big decision to make.

    Hold in the hope it will recover, or cut their losses and sell.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • Qubit
    Qubit Posts: 61 Forumite
    First Anniversary Combo Breaker First Post
    Options
    https://cryptocurrencyhub.io/the-bitcoin-bubble-explained-to-a-couple-of-four-year-old-twins-95b6f86e3b90

    tldr - bubbles only burst once.
  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    Options
    Qubit wrote: »
    https://cryptocurrencyhub.io/the-bitcoin-bubble-explained-to-a-couple-of-four-year-old-twins-95b6f86e3b90

    tldr - bubbles only burst once.
    I don't think the author actually understands what a bubble is. As a hint to him, it's not just "when prices go down", which seems to be how he thinks they are identified by economists. At no point does he mention that a bubble is usually defined as something like "when speculation drives price increase rather than fundamentals". This definition is much more useful, and it would be much harder to defend bitcoin against that particular accusation because bitcoin has no fundamentals, not even those usually associated with fiat currency (e.g. economic strength of the backing nation).
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Malthusian
    Malthusian Posts: 10,950 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Qubit wrote: »
    https://cryptocurrencyhub.io/the-bitcoin-bubble-explained-to-a-couple-of-four-year-old-twins-95b6f86e3b90

    tldr - bubbles only burst once.

    The author appears to labour under the assumption that you can only get one bubble out of the same bottle of Fairy liquid.

    A given bubble may only pop once, but there's no rule that you can't then blow another one.
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    Options
    The Cryptocurrencies have been struggling to make any further headway this month and are now dropping further.

    Bitcoin Now $9775
    Ethereum £1050

    It's definitely not looking healthy, but for sure there are far worse times ahead. If you can't see the writing on the wall now then you never will.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.8K Spending & Discounts
  • 235.4K Work, Benefits & Business
  • 608.3K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards