Crypto bottom?

Discussion in 'Cryptocurrencies' started by Here4money, Nov 28, 2019.

  1. Here4money

    Here4money

    With China going full commie on crypto, and US elections going forward, I see the dangers of regulation pretty much over. If this election year reflects 2016, I'm wondering if it's time to start hedging more aggressively on crypto.
     
    MrKJoe likes this.
  2. dozu888

    dozu888

    I have posted in a btc thread before.... currently at $208b for the space

    https://coinmarketcap.com/es/

    would you rather own all the cryptos in the world.. strings of numbers created out of thin air, or roughly 1/4 of AMZN...

    to me it's a no brainer, the latter is so much more valuable.

    for a new technology with some promise but virtually zero current adoption, $50-100b sounds like fair value, which means 50-75% hair cut from here, I might take a look...
     
    Nobert likes this.
  3. dozu888

    dozu888

    and by the way - you can't have a more ironic parallel to pets.com in DOGE... this dog (pun) created as a joke and is still worth $300m?

    the bubble hasn't let out all the air yet... no way..
     
  4. US$6600 is most likely the bottom pending further information. It should fluctuate between that price and where it is now until a change in sentiment.

    If you were to buy in now you would probably be buying at the top of the range.
     
  5. It seems to be the bottom for now, and we are definitely in a small relief rally. But it seems we are in a downsloping channel, or you could see it as one gigantic bull flag. And I would like to think this is a bull flag, but there are more factors of this thing being bearish than bullish, and there are still a lot of resistance zones and MA lines to break before even becoming bullish. DELETE11.png
     
  6. dozu888

    dozu888

    guys... pls.. some lines that only live in your head? why should the other market participants care.

    this is a fundamental problem among amateur traders that when we first start we go to the book store and pick up technical analysis 101 and this BS can stay for a long time, and even permanently for many.

    especially for cryptos, where the price movements are not even based on legit supply/demand... all is just manipulation without rhyme or reason.
     
    dealmaker likes this.
  7. Here4money

    Here4money

    Thing is, I'm not sure this stock market bull run will continue through 2020. I wouldn't be surprised if we stagnate through the election year. I am curious if the December sell off won't trigger bearish sentiment tbh.

    Strictly speaking BTC, it saw a doubling in price in 2016. I don't really agree with your valuation, but I don't agree w/ANY valuation regarding crypto....I just don't know what metrics people are using to come up w/them other than a biased gut feeling.
     
  8. dozu888

    dozu888

    what december sell off.. at the moment the retail dumb money is still fairly short/flat, so the odds favors the rally to continue... nobody knows for sure of course...

    cryptos - there is no metrics, which is why these boys can pump them however they want... but to put things in perspective.

    - if you consider them as some sort of payment mechanism... Visa is $160b, Master card is $100b... so just 2-3 months ago the cryptos were bigger then the 2 combined?

    - if you consider them as some sort of technology play, then SAP is $160b and IBM is $100b... and I have been working as an IT consultant for 20 years... and know fully the maturity and the world wide penetration of these companies.

    this is where judgement comes into play right? and I believe this is really a trader's edge... you have a vision that is better than everybody else's.... I think it's a no brainer when you use the above as reference..... just like almost 4 years ago I had this thread 'are we gonna run out of shares'... and the fact is we have been, with the buy backs.

    so the cryptos are about a sure bet on the short side as the naz bubble in 2000, except I don't trade it because of the lack of regulation and the ease of manipulation by whoever issue these coins...

    really the only sure way to make money with cryptos is to issue your own coins...but of course it's already late in that game.... but it's not completely dead yet... I believe if one is truly passionate about cryptos that's the way to go, either passionate enough to develop it as a use case, or as a scam purely for the money, there is still room to do something to attract money.

    but buying coins as investments... at this point is just pure gamble at best... a stupid gamble most likely..
     
    Nobert and lovethetrade like this.
  9. traider

    traider

    dozu you made good points but I think you didn't factor in the growth potential. If someone smart comes up with new applications of blockchain tech then btc will be worth more. It's like calculating growth of stocks or indexes, the black magic part of valuation
     
  10. Hello Guys,

    Bitcoin price keeps fluctuating but it will rise in the future as the world is moving forward to digitalization. Cryptos will become a medium of trade.

    I would love to know your thoughts regarding bitcoin's future.

    Thanks
     
    Last edited by a moderator: Nov 29, 2019
    #10     Nov 29, 2019