My sister is a hair dresser who cant even balance her cheque book, if that isnt the sign of the top id be amazed, she would invest in a gravel quarry if she heard people were buying pet rocks. With that said, the MaxEZandt hedge fund took a bit of heat today selling puts, but we will be good.
I think Bitcoin is surging and being propped by the alt-crypto market. Absolutely nutty returns on those and since Bitcoin is the gateway to get in, it just keeps climbing. If you're not "scalping" alt coins to the tune of 5 trades/day @ 5% a pop, you're missing out. Imagine if there were only 1 or 2 currencies to get into the NYSE, and none of the traders had said currency, and you wanted in. Obviously the underlying is vaporware, but that's sort of what I see happening now. There's absolutely no regulation, pump and dumps everywhere, bots setting tramps like crazy....it's like going through the NYSE for 3 months in one day except it's open 24/7
I just threw a couple quarters at two people walking their dog out froint does that count as scalping bitcoin? It will crash by end of week dude guaranteed, there will be sellers before a long weekend, i cant read the volume but the chart is going down, it hits 1900 before 3k i promise.
It may be, it's going absolutely nuts this week. I guess what I'm saying is I'm not sure those buying Bitcoin are holding bitcoin but rather swapping hands multiple times a day thru alt-coins
What price you in from out of curiosity? my buddy has it from 200 lol decent return but i still wouldnt do it, back when he did it he had to meet some dude at a coffee shop with 10k so the guy could give him a USB stick with bit coinsi thought he was fucking crazy.
I got in @ like $800 beginning of the year @50$/wk intervals. I'm a noob don't get me wrong, after the 1st crash I only started paying attention to it when it hit 400$ and then 600$ and then 800$ and at that point I though fuk it. So all in I'm near 2k but I'm sitting on 11k because ripple went parabolic.
So your average is 800? Man im not saying this as an enemy please atleast cut the position in half here. Here is whats going to happen with these cryptocurrencies, someone is going to rob the bank on one of these, and the response is going to be a 90% loss in value, on top of that the central bankers of the world arent just going to sit there and play cute while they lose control of currency, i mean its just setting up for so many disasters, i am saying this as a friend dude, if you can get out at 2500 you will be able to buy it back at 1500 a month from now i guarantee it. Just be safe, cause alot of people will end up taking a bath on these.
@Max E. You know how many altcoins there are? Even if it's BTC that gets robbed(which is IMO great) the volume will just shift to another coin. I'll say it again, people are valuing this like a traditional asset and that's the mistake. No doubt the chart went parabolic on these assets and its toppy but if you understood the current market drivers in the crypto space you'd buy every pullback for the next year.
I'm gonna try to ride this b*** as long as I can. Bitcoin is relatively 'stable' so one could put in a 15-20% stop loss for sanity's sake. Right now all my assets are in alt coins though so can't quite do that. I was hoping for at least a month of this before exiting. Your chart reading tells you otherwise? Wish I had gotten in a month or so ago (got lucky w/ripple in that I did). I'm trying to keep the tax men from getting their dirty paws on my money so as long as I swap like-for-like I think I'm good.<<<uncharted territory for me