Its not being mentioned by the guy above that it cant really be broken. No matter how strong the support is there would always be a tendency of break out and we have seen for how many times.This is why we do make technical analysis yet we do have our own views basing on these tools.5800-6000 support is indeed a support but anytime it can be broken and it would be always depending into its investors itself.
Im not also against with TA but this is also good for preference and its much better than have no chart to see at all and dont have any basis.
Well i just wanted to say that there are many forces that push price in various directions. They are daytraders, traders, hodlers, whales, huge investors accumulating and huge investors exiting market (and medium investors from 1$ bitcoin price who become huge invesotrs now having up to 20k bitcoins exiting market without knowledge and destroying it). In my opinion TA lovers - those who will defend 6k support are not strong enough on crypto market. And yea, we can have various predictions and my post was not aiming to OP that he is not right. It was written to show different point of view and to warn about risk. Because if this support will be broken than price will accelerate immediately and stop around 4k. When i see volume when price hits support its looks to me more like huge investor stops selling beafore 6k to dont break support to dont cause panic sell and dont destroy market. Then he w8 for recover - or pump a little and sell again. It looks more like that than like someone is buing all supply at 6k because its huge whale enter price. Thats why i dont realy trust this support but i would love to see it help bitcoin recover. |
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one of the strongest reasons that i also have to believe that price will NOT go below $6k and we may be seeing a proper reversal right now is the fact that we have seen this price tested 3 times and it had held and did that strongly.
and more importantly there is a strong psychological buy support level is being shaped up there that is making that price even harder to break into.
and i keep seeing more and more analysis Technical and Fundamental saying that it is the bottom. and as more people get behind these analysis that support becomes even stronger.
at this point i am only worried about the FOMO buyers. the same people who for the past weeks have been saying how bitcoin should go lower and the bear market to continue. they repeated it enough times to believe in it and not buy back so now with this rise we are going to see their FOMO buying signs like these but bigger:
There is no support that cant be broken.  Look how strong 12k support was. Strong rebounce each time price touch 12k. 4 times in a row. Then price broke 12k and immediately return above 12k - stoploses atack - 12k support confirmation - spring in acumulation process from wyckoff chart etc.... Yea we all know where price is now. It is possible that the same topic will be created after 1 year on strong 3k support. Dont get me wrong. I hold bitcoin and ill hold it on 3k, 1k or 100k. But after few years with crypto i stoped to get to excited about TA, supports, indicators. Because when something looks like in TA book for sure its whales trap. In my opinion volumen is too weak. We can bounce to 8k, than return to 6k or even 5k again, than after few weeks we will end bear market - but thats from TA - as I said i dont trust it that much especialy in crypto market and bitcoin market small enought to be pumped by 1 investor up to 10-20% in 1 h |
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it sounds like a good strategy but you failed to explain the key point to this strategy which can make it a very good one or a terrible strategy. the key is "choosing those coins"!
you said "development background". well there isn't any development to majority of the altcoins and what you said is just fancy talk for saying "I check the social media for the most advertised coin".
the other part is the "fell deep" part! whatever that means. if you look at coins that have dropped a lot and choose them only based on that then it is a mistake. but if you can come up with valid reasons to convince yourself that these drops have brought that coin to its BOTTOM then your choices can be good.
what I do is that I don't waste my time with a lot of coins. instead I go around in the market and choose 1 or 2 coins that I see are getting some "attention" from the pumpers. this can be some hype in the media, some airdrop coming up, some fork,.... combined with increased volume, activity and of course some price rise. then I buy them and make some risk assessment to set my sell orders for dumping.
Exacly. This strategy can end after buing first 5 coins after months of wating decrising everyday to 0. There are dozens of risks even if you checkes whitepaper, team and even CODE and contract with they partners to be sure they are not faked - and in most cases "development background" is just "lets see what people on youtube talks about it". |
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https://myetherwallet.github.io/knowledge-base/gas/what-is-gas-ethereum.html - instructionn what is gwei, how to set it correctly and how transfers on etherum platworm works https://www.ethgasstation.info/index.php - gwei calculator Most ofeten 5-10 gwei is enought to transfer tokens imediatly. Today 40 was needed (which can be up to 1,5$). I think that it was caused because it is first day of month and lots of ico distributed their tokens and overload miners. Alwais check and set gwei correct. If you dont need to transfer tokens in specyfic time its better to awoid sending them when network is overload. Few days ago i send my tokens for 1 gwei in 5 min (0,02$)- network was that free.
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You will have to w8 for next block which can be from 0-10min (depends when last block was mined). Exchanges most often pay miners well and transaction mostly comes with first block.
But it is not a thing that i would rely on. You have interest in fast sending money - otherwise you wont ask us - in most cases there is no difference beatwin 5 min and 7 min transfer. If you find a way to earn from this be carrefour. Withdrawal and deposits may stuck for hours without rison on some exchanges no matter which coin you are transfering - be awere of that risk.
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Actually almost 90% traders, especially newcomers use holding because they did mistake and now have to do so. And in the current situation this is the only correct solution. As we can see on the above message, we only in the beginning. In this market wins only the one who has enough patience.
Holding the best during bear market? ... and the best in situation where traders are trying to calculate where is the top of bubble (now or in nex year - two). Hodling is extremly dangerous in current market... Only correct solution sims to be daytrading - you know risk, you manage it, you calculate it, you take it. In holding in current market you dont know risk, you cant calculate it you only hope that you wont be scamed by coin that you choise and that market will apprciete it in market price. Middle term trading seems to be ok now - buy now and sell in 1-2 months because current prices are oversold in middle term in my opinion. |
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According to crypto:  Its NASDAQ and famus net bubble on 1m candles. I think crypto marketcap will look the same in next 10-20 years. Currently we are way beafore top but also way abowe bottom made after reaching top. In my opinion market will jump x10-20 and than drop 95% leaving 10-40 coins. Thats makes holding extreamly dangerous (currently nasdaq is higher than during net bubble but mostly on companies that wasnt pumped that much during bubble). Hodling has also lots of other risks - https://bitcointalk.org/index.php?topic=4456137.msg39881422#msg39881422 - here i described them. |
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I'm down a large amount..........Very large. Things Could be a lot worse though. Since I'm BTC/ ETH i'll be fine in the future. The people that invested in the shitcoins are down massive amounts ( at least 90%). I do feeld bad for the suckers that bought ripple at $3 and are now holding it under .50 cents. I'm positive btc/eth will recover but most of these alts are left for dead.
Ripple may recover to ATH faster than ether. Ether is not that safe to invest. Most of suceeded token moves to their own blockchain (trx,eos,ven,bnb) because etherum is not scalable enought to hold 1 project that hit mass adoption. That makes him kindergarden for shitcoins. ETH has not finished code yet. It has bugs that may result in milions of dolars lost - https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether . As soon as investors will get it price will go below stellar/neo which does the same but in my opinion are better - smart investors, those not smart will get it after loosing money on it. Ripple has lots of partnerships with huge banks and its definitly not shitcoin. Of cors it may change. But if not price will be dumped. Thats risk you are taking holding ether - there are better coins doing the same. Ripple is safer in my opinion but too centralized to invest in. |
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Market is down and all my coins are down as always. It is saddening that bitcoin hardly goes down without dragging altcoins to the same mode.
Bitcoin drop will alwais drag altcoin down because they are economicaly connected. Here i explained how it works. https://bitcointalk.org/index.php?topic=4444348.msg39704417#msg39704417If bitcoin drops means that someone pulled money out of market. If altcoins drops means that someone who has altcoin now has bitcoin and someone who has bitcoin now has altcoin - noone pulled money out of market. Altcoins are only multipliers of bitcoin price. That is what happend if >90% of most altcoin volume is in pair ALT/BTC |
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Maybe some miners will stop working because the expenses will excess the earnings but we need to remember that less miners means less difficulty so the remaining miners will still get profits but I don't think the mining farms will stop working because they instead huge so they will continue to run for a while even if they faces small loss and they can equalize them when the prices recovered.
There is no economical explanation of running bitcoin farm when electricity cost is bigger than bitcoin price. Even if you invested milions into hardware and after 2 years it will become rabish in compared to new faster and more economical hardware. Its better to turn off mining farm and pay 1 mil for 500 bicoins monthly than 1 mil for mining 400 bitcoins monthly. Hardware will also degrade faster when running. |
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Yea. Whats hodlers worst nightmare is the best oportunity to earn for experienced traders. Since March i doubled my bitcoin amount trading/daytrading to alts in this bear market. Holding is not strategy to minimalize risk - ists strategy maximazing risk - its strategy similar to lottery - https://bitcointalk.org/index.php?topic=4456137.msg39881422#msg39881422Hodling was the best strategy in 2012-2018 period (for coins that are still on market ) whats doesnt make it best strategy fo 2018-2024 Never fallow masses in investing. If masses says hodl than trade/daytrade. If masses says crypto died than buy for long term. Everyone in january said - "if you are newbie chose good coins, buy and hodl" - everyone who take that strategy in january has -90% in his "porfolio" |
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2.We need to choose the trading platform based on our coins because the price of each coin will differ in each exchange so pick the exchange where you can get high price and also you need to consider the fee,as for me Binance have lesser fee when comparing other exchanges.
There is no need of compering prices through exchanges for daytrading. Only low volume coins have price differences that are worth to check and they are useless to daytrade. Also to success daytrade you need to buy low and sell high. Even if you buy low on bittrex (on binance price is higher) there is no quarantee that bittrex price will go to binance price and withdrawing to binance for sure wont be profitable. Thats why to succesfull daytrade you need high volume coins (more predictable), low fees, sharp exchange (when you place order its on the same momen on market, not 5-10 sec after). Thats why i highly suggest to choose binance (0,005% fee if you have bnb on your wallet), great interface + stoploses and its very sharp. How to chose coin for daytrading: -chose to daytrade to btc or to USD (ALT/BTC or BTC/USD, ALT/USD pairs ) -list coins by daily volume -check daily amplitude (bigger amplitude means higher volatility - bigger risk - bigger profit) and chose coins based on your expirence - check if its not a shitcoin |
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As trader you need to be able to admit lost trades. Be able to say "i was wrong" and cut losses. It might be hard and sometimes will make you eat your table when coin will rebounce after your sell but it is must have. Dont jump into trade when you see opportunity on 5 min candles for next 30 min time period and stick to that position for weeks hoping for it to recover. Alwais have exit strategy when entering market. And alwais change it if you see that market is not acting like you predict it.
To help admiting lost trades try to thing about trading as regular job and lost trades as fuel to get to work. Because there is no 100% accurate trader with 100% win trades.
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The price of BTC is determined by supply and demand. We cannot say that the mining price of BTC is $ 6k on average as it differ from country to country depending on the electricity cost.
For Example mining cost of BTC based on electricity rate is cheapest in Venezuela $531 and in Ukraine it is $1.852.
In US it is $ 4.758 , Russia $ 4.674 and in United Kingdom it is $ 8.402 and in Spain is $11.105.
We can see that in some countries the mining cost is highly over the recent price.
Those price are based on energy price for regular user - single family home/apartment. Profesional miners with huge mining factories have very similar mining cost no matter in which country he is. |
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I was looking at the possibility of investing in several Altcoins as part of my trading buy selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.
It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.
Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.
But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.
After all it is important we make money on a regular basis apart from the long term investment isn’t it so?
As i understand you right you are currently holding bitcoins and you want to daytrade altcoins for better profit than from bitcoin itself. To do it you want to sell bitcoin to $ and use $ to trade altcoins. In my opinion its not the best strategy because: 1- altcoin fallow bitcoin (they are only multiplier of its price) - https://bitcointalk.org/index.php?topic=4444348.msg39704417#msg397044172- daytrading needs experience and time - if you will drop bitcoin to $ and 2 days a week trade to altcoin im sure you want have better ROI than bitcoin. 3- most altcoins are traded only with bitcoin. So to buy them you will have to buy bitcoin again and altcoin for it. Check out this strategy than. You still hold bitcoins but daytrade it in pair btc/alt to increase your bitcoin amount. You dont try to earn 500$ on altcoin as you said because in the same time bitcoin could earn 700$. In fact you will end up with lower ROI. In this strategy you are still holding bitcoin and try to earn sat by sat from each trade by that you can be sure to have better roi than bitcoin itself (because from each trade you have more bitcoins). When bitcoin is growing faster you will see it on chart ALT/BTC and jump back to BTC and when altcoin is growing faster you will also see it on chart and jump to altcoin. In this strategy you maximazie income as far as you bealive in future of bitcoin - as current bitcoin hodler i assume that you are. To gain experience in trading/daytrading you need to do as many trades as you can. Thats why start with the lowes possible bet (0,001btc ~ 6$ on binance) and do as many mistakes as you can and learn from each. There is no magical path that you can learn from books and jump on market with big bets be 100% right and earn labo in week. As not experienced trader you will do lots of mistakes. Make sure your learning will be as cheap as possible. I definitely will and that's what I'm currently doing. I hold more altcoins rather than Bitcoin. The price of BTC now is still the highest in the market and I believe that I will have more profit in the future if I'll invest my money in quality altcoins so whenever I have BTC, I use it to buy more altcoins.
Price does not matter. Its just marketcap divided by circulating supply. And there are altcoins with higher price than bitcoin - project X for example. Check out this -i explained it better https://bitcointalk.org/index.php?topic=3987913.msg37787537#msg37787537You cant expect that iota would ever have the same price as bitcoin because there is 162 time more of iota coins. |
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As the title says I am sure everyone might have already gotten my question here.
World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.
In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.
For time being they might not be focusing and thats why market has got crashed?
I daubt about that. We are far away from 2009-1010 where bitcoin marketcap was that small that witdrawing 10 000$ from market would dump it. Do you realy think that those few gamblers quting market will dump it? Would syrious investor sell his bitcoin at the bottom to bet on his team? Would professional investor invest all his capital into crypto to have to sell cryto to fiat to bet on team - realy? - doesn't he have any extra money to bet? You are talking about few shit-investors that put his last 500$ into bitcoin and now its worth 250$ and he decided to withdraw it and bet on his team. It would not move the market where we have 200 btc+ transactions and 2000+ walls eaten during run below 6000. Huge investors are in now. And they dont gamble on world cup. And even if they do they dont invest 100% into bitcoin. |
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Usually the people dumping on the exchanges are those who were paid out by airdrop or bounty campaigns, I think one of the best ways would be to pay out the bounty and airdrop participants in stages, e.g. 1/10th per month for 10 months, that way you don't get the complete dump on the exchanges that happens with many ICOs. Of course, if an ICO was genuinely outstanding, not even the bounty/airdrop participants would want to dump on the exchange, so could always just improve the quality of the platform to prevent this.
Or pay them in other crypto like eth or btc and save more locked coins for team or future distribution. |
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