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Crypto currency (IF banned from CA)


catcherintherye said:
For crypto currency there was a small correction yesterday and re-bound. When it crashes it will lose 85-90% of it's value and that is due to happen very soon (if you use the metric of how many days until the next crash). That is the big opportunity in all of this, to pick some up for 10% of the peak value. I would be waiting patiently to invest if thats what you intend to do. I have a figure for bitcoin (around 6-7k) that I will start to become interested in.

A lot of enthuasiasts seem to think a crash won't occur. I think it's more likely to occur now, as once it gets wobbly, these hedge fund managers, guys like Elon Musk etc are just going to take their profits. If you are a x 2 on an asset and are judged by YOY performance, you are not going to be hanging in as any point of principle. Now a bigger portion than every of the asset is held by Wall Street Firms, who don't understand how it works, never mind have any loyalty to it, I can see quite a severe crash once it kicks in.

If you are looking to day trade before that, I would use pretty type stop losses. Thats the phase I am at really, I buy in, and have generally a 30-35% stop loss as soon as a buy which trails the price. It makes I sometimes leave some profit on the table, but I save myself from a 90% collapse which is coming. Depending on how risk averse you are, you can't go wrong buying a selection today. It looks like the stochastic measures (and the RSI) are going in the right direction. I'll probably be waiting to see how it "closes" today (not that it ever closes, but see where it is at 10pm) to see if it's held that growth and probably look for a repeat tomorrow and then enter back in. Bitcoin at somewhere around the 47/48k mark having had a couple of days consolidating is good. 30% trailing stop loss and see if we can have a month of growth back towards 65-70k.

My advise would be though, to use stop losses, and keep an eye out for the big crash that will come.
Click to expand...

I will look at BTC around the 4.5k range. It's going to drop like a stone at some point but it might take a good while before it does. For the big investors it's far too good a prospect to not try and organise a collapse, they can then buy in again at a low price and wait for it to hit 60+k in a year or two after the bottom.
 
after reading this thread so far,
all i can say is crypto is in its very very early stages,
its like when i was in uni in 1993 and we were discussing the internet among ourselves! lol
 
If it drops all the way to 4.5k, why would it then return again to 60k? All the retail speculators who drove it 60k in the first place will be utterly ruined if it drops to 4.5k.

Who else will be left to keep pumping money into magic beans that routinely shed 30-50% of their value in a week?
 

The Gueye Science said:
If it drops all the way to 4.5k, why would it then return again to 60k? All the retail speculators who drove it 60k in the first place will be utterly ruined if it drops to 4.5k.

Who else will be left to keep pumping money into magic beans that routinely shed 30-50% of their value in a week?
Click to expand...
look at BTC history it has done this 3 or 4 times before, not saying that past history is an indicator of the future but huge drops like this are standard for btc and crypto in general
 

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