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Cryptocurrencies

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Once shorted completely if everyone left it alone who are in it for a quick investment it may pick up again. People who paid £100 per BTC were probably not expecting to see it smash through 1k let alone 10k.

I still expect for it to carry on in the cycle it has been going on for a while yet. It keeps falling to around new lows and then the investors poor back in looking to send that a couple of grand higher (it seems to get to a lower peak each time though), then they sell up pocketing the difference.
 
The binman chronicles said:
Once shorted completely if everyone left it alone who are in it for a quick investment it may pick up again. People who paid £100 per BTC were probably not expecting to see it smash through 1k let alone 10k.

I still expect for it to carry on in the cycle it has been going on for a while yet. It keeps falling to around new lows and then the investors poor back in looking to send that a couple of grand higher (it seems to get to a lower peak each time though), then they sell up pocketing the difference.
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At the risk of stating the obvious, its a market.

For every buyer there is a seller, and for every seller there is a buyer.

If you buy a 5k and manage to sell it at 7k, who is buying from you at 7k? It must be those who think that they can offload it at an even higher price. So what happens when it doesn't go higher, but heads lower, let's say down to 4k? You now have sellers who are selling at a loss... to buyers who think that prices will go up from the current 4k. That's all that is going on, each day every day buyers and sellers chasing prices they think are going higher or lower.

All this talk of manipulation and short sellers is a load of nonsense. It is nothing new.. you have these players in all markets. Much of the buying at current levels will be from short sellers who were selling from a higher level; they are actually helping pull the price up right now. Its a double edged sword.

The real fundamental reason that prices head higher or lower is that the collective assessment of all buyers and sellers is constantly re-evaluating to deem fair price to be lower or higher than the current price.
 

The binman chronicles said:
Once shorted completely if everyone left it alone who are in it for a quick investment it may pick up again. People who paid £100 per BTC were probably not expecting to see it smash through 1k let alone 10k.

I still expect for it to carry on in the cycle it has been going on for a while yet. It keeps falling to around new lows and then the investors poor back in looking to send that a couple of grand higher (it seems to get to a lower peak each time though), then they sell up pocketing the difference.
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...Freudian slip ?
 

evilwebby said:
At the risk of stating the obvious, its a market.

For every buyer there is a seller, and for every seller there is a buyer.

If you buy a 5k and manage to sell it at 7k, who is buying from you at 7k? It must be those who think that they can offload it at an even higher price. So what happens when it doesn't go higher, but heads lower, let's say down to 4k? You now have sellers who are selling at a loss... to buyers who think that prices will go up from the current 4k. That's all that is going on, each day every day buyers and sellers chasing prices they think are going higher or lower.

All this talk of manipulation and short sellers is a load of nonsense. It is nothing new.. you have these players in all markets. Much of the buying at current levels will be from short sellers who were selling from a higher level; they are actually helping pull the price up right now. Its a double edged sword.

The real fundamental reason that prices head higher or lower is that the collective assessment of all buyers and sellers is constantly re-evaluating to deem fair price to be lower or higher than the current price.
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Good post that.

For any "investment" for which there's a market, there's always a price range where you can say the commodity or stock is fair value, and there'll be some movement within that range. The knack of making money on the markets from long-term investments ( rather than trading ) is identifying when the price falls outside "fair value", and buying and selling as appropriate. The problem with Bitcoin, and other cryptocurrencies is that no-one really knows what fair value is.
 
evilwebby said:
down 69% so far. Sticking by this forecast!
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BTC itself is clinging on grimly by the fingernails to the current level just above 6k but the smaller altcoins are getting hammered and setting new lows. The whole crypto market is now down 72% from peak but BTC is 50% of the current market and has held up relatively well it means the other coins that make up the other 50% have done worse.
 

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