RED SUNDAY - cryptocurrencies dropping like bricks

[AzureDragon]

It does not look very good. But I don't see anything catastrophic. I think that we will observe such failures several more times before 2018.

[eldrin]

I think it market will still go low, so waiting a little bit and going to buy again. Good thing I sold my coins before bloody Saturday. Selling at high price and buying at low is really profit maker. Lastly, 2018 will be a year of hodl for me as I see that most cryptocurrencies price will soon fly high.

[h0lybyte]

I have already unstocked my bitcoins before its price drop, and i can see bitcoin is still rising after this little drop.
I think people are selling altcoins and buying bitcoin again, this is why bitcoin seems to be on previous price again.
I am expecting a vast drop in bitcoin price soon on the day of christmas. That would be also a good chance for buyers to acquire bitcoin at cheap rates

[Golftech]

I believe it because altcoins market is very tightly correlated to Bitcoin prices, the only way for altcoins to go up is for Bitcoin to stay stagnant or it has a slow uptrend/downtrend movements. Well, we can force to stop people taking a profit. The good thing is today kinda like black Friday for Altcoins. This is the best time to start accumulating more altcoins.

With this things happening today, I'm sure more traders will choose to buy more alts and try to hold, for me I'll go with PoS coins so while waiting
I can place it inside my wallet and accumulate with the rewards, planning to buy  stratis while there's some downfall I know the team will bring
updates and will bring new height to this coin.

[jerry0]

Hi there.  So to make sure of this... usdt is not fiat right?  Okay so let say the only way for me to get btc quickly is by requesting a withdraw from a site that pays out in btc.  So for example, i go and request a 5k usd withdraw.  They then send me 5k in btc to me.  But the issue is this can take hours or even a day or longer.  So if i plan to make sure i have money on hand to buy altcoins especially during dips, once i receive the btc.... i then send the btc immediately to my bittrex account and then immediately sell it for usdt right?  The thing is you say you sell it if you think that currency will dip.  Well for me... im doing this mainly because i want to buy altcoin.  So that reason is fine right?  That is actually the main reason.  Also this would apply to bitcoin as well right?  


So when you say only safe way to safeguard your current market value, you mean the ability to buy an altcoin or bitcoin when you want immediately right?  Because i could not think of a way to buy an altcoin immediately as when i use to buy altcoin... i need to first request a withdraw from a site that pays out in btc.  This could takes hours or a day or longer.  Then once i receive it, i almost always use shapeshift and then convert the btc to the other altcoin immediately.  But of course when i do this, i cannot buy the altcoin i want at the price i want immediately.  So of course the price can go higher or lower etc.  So if i want to have usdt on hand, what i describe is the proper way to do it right?  Like if i want to have 5k usdt balance in my bittrex acct to buy altcoin or btc etc... i should do a withdraw from the site... they send me btc... i just sell it for usdt.  Then i would have like a 5k usdt balance there where i could buy whenever i want at the price i want?    


Another thing i want to ask.  Let say i buy an altcoin for 5 dollars and buy 1000 shares of it.  Let just say btc is worth 5k for example.  Thus i spent 1 btc to buy 1000 shares of an altcoin.  Now the altcoin price went up to 8 dollars and i want to sell.  I sell all of it and i make around 3k profit minus fees.  So when i sell the altcoin back to btc, i get btc.  But let say btc went from 5k to 15k for example.  So i started out with 1 btc... but because btc went up so much... 1 btc is 15k.... and i get only 8k back... i get around 0.533 btc.  So here i clearly made a usd profit.  But in order for me to lock this profit in daytrading, i should be selling that 0.533 btc immediately for usdt which should be around 8k usdt right?  That way i locked by 3k usdt profit?  Because if i dont convert it to usdt and say btc drops... well my 3k usd profit from buying/selling that altcoin could be negated by the drop of btc right if it drops over that amount?

[engrshu]

It is a normal event where digital currencies are flunctuating, Indeed it is a great time to buy, and I will probably buy btc and eth and a coin that has a good trend history.

[sazon84]

The market behavior is useful to examine! And we need to learn how to earn money in any occasions. What I will do now is to buy coins that fell. Since a few days ago I recorded a good profit in Usdt. And such coins as Stratis is a must buy, while they again have not grown

[vv181]

I believe it because altcoins market is very tightly correlated to Bitcoin prices, the only way for altcoins to go up is for Bitcoin to stay stagnant or it has a slow uptrend/downtrend movements. Well, we can force to stop people taking a profit. The good thing is today kinda like black Friday for Altcoins. This is the best time to start accumulating more altcoins.

With this things happening today, I'm sure more traders will choose to buy more alts and try to hold, for me I'll go with PoS coins so while waiting
I can place it inside my wallet and accumulate with the rewards, planning to buy  stratis while there's some downfall I know the team will bring
updates and will bring new height to this coin.

Buying altcoins in the downtrend of the market while others selling is the wisest thing to do. Stratis is a good choice, and i have been holding Strat for a while. There is a lot of news and releases in the coming month for Stratis.

[indrakusumaindra]

Rare phenomenon, 95 of top 100 cryptos dropping at the same time on
https://coinmarketcap.com

Time to buy boys!

yes time to buy and time to cut loss. bitcoin is droping and makes all the coin drop too. just hold till bitcoin rise. if bitcoin increase i believe the market will recover too

[Dodoymabs]

I think it market will still go low, so waiting a little bit and going to buy again. Good thing I sold my coins before bloody Saturday. Selling at high price and buying at low is really profit maker. Lastly, 2018 will be a year of hodl for me as I see that most cryptocurrencies price will soon fly high.

When the Bitcoin price falls or rises against the USD, all the altcoins will usually follow. This is because all altcoin prices are based on their Bitcoin exchange rate, not their USD exchange rate. This is similar to the traditional stock market, where really bad news for one company can cause all stocks in the same industry to sell off.

[babsjoe]

The price increase of bitcoin move way to fast. There will be correction and there is nothing bad is happening. These are just market natural flow of event after a sudden rise or sudden fall in price. So I am getting ready to buy more of your bitcoin when you panic sell!

[jezus]

Now i can buy more neo.

[maydna]

The price increase of bitcoin move way to fast. There will be correction and there is nothing bad is happening. These are just market natural flow of event after a sudden rise or sudden fall in price. So I am getting ready to buy more of your bitcoin when you panic sell!

we have seen the price is fall now and I think there are still many people gets panic for this and they decide to sell their bitcoin to buy back bitcoin at a lower price. I am waiting for the price for getting down for more so I can prepare to buy another bitcoin with low price. I see in the coinmarketcap, bitcoin has decreased 15% and I think this is the correction that we got now but I still believe that bitcoin price will increase again.

[kahc]

Hi there.  So to make sure of this... usdt is not fiat right?  Okay so let say the only way for me to get btc quickly is by requesting a withdraw from a site that pays out in btc.  So for example, i go and request a 5k usd withdraw.  They then send me 5k in btc to me.  But the issue is this can take hours or even a day or longer.  So if i plan to make sure i have money on hand to buy altcoins especially during dips, once i receive the btc.... i then send the btc immediately to my bittrex account and then immediately sell it for usdt right?  The thing is you say you sell it if you think that currency will dip.  Well for me... im doing this mainly because i want to buy altcoin.  So that reason is fine right?  That is actually the main reason.  Also this would apply to bitcoin as well right?  

No, it is a cryptocurrency.
Every tether is always backed 1-to-1 by USD held in the reserves. So 1 USDT is always approximated to 1 USD.
If you buy BTC from an exchange, the BTC is usually available immediately after your payment is registered. Is just if you send to another exchange/wallet the delay comes in.
In your case, you don't necessarily need to convert from BTC to USDT first. Because tradings on online exchanges are executed momentarily. For example if you trade BTC to ETH, you will get ETH in your account the instant the order gets executed, everything happens internally.

However there are EXCEPTIONS: Exchanges where you deal with the seller/buyer directly, like localbitcoins.com. In this case you have to send BTC to the seller's wallet, and the seller then send ETH to your wallet.

So when you say only safe way to safeguard your current market value, you mean the ability to buy an altcoin or bitcoin when you want immediately right?  Because i could not think of a way to buy an altcoin immediately as when i use to buy altcoin... i need to first request a withdraw from a site that pays out in btc.  This could takes hours or a day or longer.  Then once i receive it, i almost always use shapeshift and then convert the btc to the other altcoin immediately.  But of course when i do this, i cannot buy the altcoin i want at the price i want immediately.  So of course the price can go higher or lower etc.  So if i want to have usdt on hand, what i describe is the proper way to do it right?  Like if i want to have 5k usdt balance in my bittrex acct to buy altcoin or btc etc... i should do a withdraw from the site... they send me btc... i just sell it for usdt.  Then i would have like a 5k usdt balance there where i could buy whenever i want at the price i want?    

I mean for example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. Then comes Wednesday and a 50% dip takes place, your ETH is now worth $1000.

Strategic example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. You think the pump is over and can anticipate a dip, so you now sell $2000 worth of ETH to USDT. You now have $2000 worth of USDT. Then comes Wednesday and a 50% takes place on ETH. Your USDT is still worth $2000, but now you sell USDT and buy $2000 worth of ETH.

With the strategic example, your market value would be $2000, while the 1st example $1000.

Another thing i want to ask.  Let say i buy an altcoin for 5 dollars and buy 1000 shares of it.  Let just say btc is worth 5k for example.  Thus i spent 1 btc to buy 1000 shares of an altcoin.  Now the altcoin price went up to 8 dollars and i want to sell.  I sell all of it and i make around 3k profit minus fees.  So when i sell the altcoin back to btc, i get btc.  But let say btc went from 5k to 15k for example.  So i started out with 1 btc... but because btc went up so much... 1 btc is 15k.... and i get only 8k back... i get around 0.533 btc.  So here i clearly made a usd profit.  But in order for me to lock this profit in daytrading, i should be selling that 0.533 btc immediately for usdt which should be around 8k usdt right?  That way i locked by 3k usdt profit?  Because if i dont convert it to usdt and say btc drops... well my 3k usd profit from buying/selling that altcoin could be negated by the drop of btc right if it drops over that amount?

Yes, correct. If you want to "lock" the profit/loss in place you can sell whatever coins you have and buy USDT or fiat.

[jmigdlc99]

Its a weekend and people are cashing out. Relax. Family time means less time allotted to businesses and investments. More people will be cashing in tomorrow (Monday) once businesses open and everyone gets back to work. I can imagine when co workers meet they will talk about this weekend's dip and will convince each other to buy more bitcoin. This money should also eventually flow into alts. Just hodl.

[Sahyadri]

The market cap has reduced which means that the money from crypto has been taken out. People would have encashed their BTC to fiat because that is the only thing I can think of. BTC has dropped around 15% in the past 24hrs and the altcoins have not increased in price too.
Christmas and the New Year is near and this might be the reason why people are cashing out their money in order to buy gifts and manage expense  for the upcoming days.

[udayantha11]

Rare phenomenon, 95 of top 100 cryptos dropping at the same time on
https://coinmarketcap.com

Time to buy boys!

Yes this is the correct time to buy coins. Very rare time. Some people panic , do not do that.. Please buy now

[endlasuresh]

No Redsunday for Bitcoin as it will fight back to the right place, anyway the price above 10k is ok for Bitcointalk members as I see few of them including me sold Some BTC.

Some people need money and for the merry christmas they were selling BTC I think.

[jerry0]

Hi there.  With your ETH example.  Lets just replace it with btc since thats what im working with.  I basically have money in betting sites where even though the balance is in usd... btc is the way to deposit/withdraw on those sites.  So when i want to make a withdraw, they pay me out in btc.  I usually do this only if i want to move some money from a betting to another betting site or... if i want to buy an altcoin.  Thus receive btc... then go to shapeshift and sell btc for the altcoin.  But i wont use shapeshift anymore due to the high fees... but also because there are many coins shapeshift does not have.


The other thing is i have zero interest in holding any new btc from now on due to the price. So for example, if btc is price is 15000.  Let say i withdraw 5000 usd so i get around 0.33 btc from the betting site to my bitcoin wallet.  You say you could then wait a bit and if btc goes up, you can then sell your btc to usdt to get a higher usdt balance.  But of course if it goes down and then you sell it for usdt, you get less.  The thing is i don't want to have any bitcoin at these prices as its already way too high.  Does that make sense?  I basically only want bitcoin from now on only to buy altcoins... nothing else.   So if thats the case, and since right now im waiting to buy certain altcoins but waiting for prices to drop, best to just withdraw whatever usd amount of worth of bitcoin i want now... so when the time comes when altcoins hit the low price, i could then buy btc immediately with my usdt and then immediately buy the altcoin right?  Because i dont want to have to wait many hours or a day or even longer to buy an altcoin because at the moment, i need to withdraw btc from a betting site... then wait for btc to hit my wallet, before i could buy the altcoin via shapeshift.  And since i want to use bittrex to buy altcoins, then best to just keep usdt balance there right?  Of course i would like it if i request btc and then i get it sent to me immediately.  That way i would send it to bittrex and then i wont even need to have itc converted to usdt since i would be buying it immediately right assuming prices is around the same?

With the locking in profits, since i want to buy altcoins, then obviously do this at bittrex right?  But if i only am planning to do this with btc, eth and litecoin for example... thus coins traded against fiat only on those sites, then its best to do it there as oppose to bittrex?  Someone mentioned bittrex is not even needed unless you buy/trade altcoins right?  And here is the other thing.  If you look at the btc buy/sell price on bittrex, its like over 700 dollars less.  If thats the case, then why would anyone sell btc on bittrex unless they are going to buy altcoins?  gdax/coinbase are paying over 700 dollars more for a bitcoin than on bittrex.  Can you explain this?  Because that would mean i would be selling btc for a lot lower price on bittrex whether its to sell it immediately for an altcoin or sell it for usdt where i could use it later anytime to buy altcoins or btc/eth/litecoin etc.

Hi there.  So to make sure of this... usdt is not fiat right?  Okay so let say the only way for me to get btc quickly is by requesting a withdraw from a site that pays out in btc.  So for example, i go and request a 5k usd withdraw.  They then send me 5k in btc to me.  But the issue is this can take hours or even a day or longer.  So if i plan to make sure i have money on hand to buy altcoins especially during dips, once i receive the btc.... i then send the btc immediately to my bittrex account and then immediately sell it for usdt right?  The thing is you say you sell it if you think that currency will dip.  Well for me... im doing this mainly because i want to buy altcoin.  So that reason is fine right?  That is actually the main reason.  Also this would apply to bitcoin as well right?  

No, it is a cryptocurrency.
Every tether is always backed 1-to-1 by USD held in the reserves. So 1 USDT is always approximated to 1 USD.
If you buy BTC from an exchange, the BTC is usually available immediately after your payment is registered. Is just if you send to another exchange/wallet the delay comes in.
In your case, you don't necessarily need to convert from BTC to USDT first. Because tradings on online exchanges are executed momentarily. For example if you trade BTC to ETH, you will get ETH in your account the instant the order gets executed, everything happens internally.

However there are EXCEPTIONS: Exchanges where you deal with the seller/buyer directly, like localbitcoins.com. In this case you have to send BTC to the seller's wallet, and the seller then send ETH to your wallet.

So when you say only safe way to safeguard your current market value, you mean the ability to buy an altcoin or bitcoin when you want immediately right?  Because i could not think of a way to buy an altcoin immediately as when i use to buy altcoin... i need to first request a withdraw from a site that pays out in btc.  This could takes hours or a day or longer.  Then once i receive it, i almost always use shapeshift and then convert the btc to the other altcoin immediately.  But of course when i do this, i cannot buy the altcoin i want at the price i want immediately.  So of course the price can go higher or lower etc.  So if i want to have usdt on hand, what i describe is the proper way to do it right?  Like if i want to have 5k usdt balance in my bittrex acct to buy altcoin or btc etc... i should do a withdraw from the site... they send me btc... i just sell it for usdt.  Then i would have like a 5k usdt balance there where i could buy whenever i want at the price i want?    

I mean for example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. Then comes Wednesday and a 50% dip takes place, your ETH is now worth $1000.

Strategic example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. You think the pump is over and can anticipate a dip, so you now sell $2000 worth of ETH to USDT. You now have $2000 worth of USDT. Then comes Wednesday and a 50% takes place on ETH. Your USDT is still worth $2000, but now you sell USDT and buy $2000 worth of ETH.

With the strategic example, your market value would be $2000, while the 1st example $1000.

Another thing i want to ask.  Let say i buy an altcoin for 5 dollars and buy 1000 shares of it.  Let just say btc is worth 5k for example.  Thus i spent 1 btc to buy 1000 shares of an altcoin.  Now the altcoin price went up to 8 dollars and i want to sell.  I sell all of it and i make around 3k profit minus fees.  So when i sell the altcoin back to btc, i get btc.  But let say btc went from 5k to 15k for example.  So i started out with 1 btc... but because btc went up so much... 1 btc is 15k.... and i get only 8k back... i get around 0.533 btc.  So here i clearly made a usd profit.  But in order for me to lock this profit in daytrading, i should be selling that 0.533 btc immediately for usdt which should be around 8k usdt right?  That way i locked by 3k usdt profit?  Because if i dont convert it to usdt and say btc drops... well my 3k usd profit from buying/selling that altcoin could be negated by the drop of btc right if it drops over that amount?

Yes, correct. If you want to "lock" the profit/loss in place you can sell whatever coins you have and buy USDT or fiat.

[siddartha1492]

A great buying opportunity indeed! Even Bitcoin has fallen down, which it had to, because a big correction is still overdue! But why are most other coins falling?