Cryptos

Covered End

kentaddick said:

Covered End said:

This has a feeling of the Dot-com bubble to me.
Massive gains on nothing more than speculation for a couple of years and then they all crashed and burned apart from a couple of survivors.

It was the only time I lost any serious money on the stock market because I ignored the rules about knowing and understanding what you are putting your money into.

The institutions and people that knew what they were doing may have got out in profit or relatively unscathed (I don't know), but I do know that those that didn't know what they were doing lost a lot.

I'm not having a dig at anyone, good luck to you all.

https://en.wikipedia.org/wiki/Dot-com_company

Bubbles burst and don’t come back - this is simply cryptos market cycle. In 2017 we were told it was like tulip bulbs, but tulip bulbs bubble quickly burst and, fundamentally, the product changed and it never surfaced again, the crypto market has shown that it can suffer big dips and come back strong and still be in a macro upward trend over years. 

The price will go back down significantly next year, but it’s lowest won’t go any lower than the $20,000 that was broken late last year.

Crypto and it’s speculative market is very much here to stay, but with each cycle the volatility will get less and less. Which means being  able to make or lose significant amounts of money won’t be around forever.

Yes and with Dot-com, internet sales are still ever rising. But many of the original fledgling companies went bust and many lost a lot of money. 

kentaddick

Covered End said:

kentaddick said:

Covered End said:

This has a feeling of the Dot-com bubble to me.
Massive gains on nothing more than speculation for a couple of years and then they all crashed and burned apart from a couple of survivors.

It was the only time I lost any serious money on the stock market because I ignored the rules about knowing and understanding what you are putting your money into.

The institutions and people that knew what they were doing may have got out in profit or relatively unscathed (I don't know), but I do know that those that didn't know what they were doing lost a lot.

I'm not having a dig at anyone, good luck to you all.

https://en.wikipedia.org/wiki/Dot-com_company

Bubbles burst and don’t come back - this is simply cryptos market cycle. In 2017 we were told it was like tulip bulbs, but tulip bulbs bubble quickly burst and, fundamentally, the product changed and it never surfaced again, the crypto market has shown that it can suffer big dips and come back strong and still be in a macro upward trend over years. 

The price will go back down significantly next year, but it’s lowest won’t go any lower than the $20,000 that was broken late last year.

Crypto and it’s speculative market is very much here to stay, but with each cycle the volatility will get less and less. Which means being  able to make or lose significant amounts of money won’t be around forever.

Yes and with Dot-com, internet sales are still ever rising. But many of the original fledgling companies went bust and many lost a lot of money. 

Haven’t basically all dot com companies that were around then still not hit their highest value since then? Eg yahoo. Bitcoin is still more than 2x what it got to in the 2017 cycle - and it’s at the end of a significant dip. After hitting just shy of $20,000 last cycle the price went down 90% to a low of just over $2,000 when the pandemic hit. Wouldn’t you say that’s the bubble bursting? Low and behold, it’s back.

Bitcoin’s nature and it’s halving means regardless of what you or I think, the value will always be increasing - it’s literally designed for this.

Covered End

As I said the majority of the Dot-Coms went bust.
Some survivors may have recovered their share price, but I held on to a few for 10 years and they never recovered at all. 
A few survived like Lastminute.com and some were then bought out by established companies.

I daresay Bitcoin will survive as the biggest, but many of the others? 

Covered End

I've just looked up some of my disasters.
Colt Telecom, Freeserve, Kingston Communications, Psion, Baltimore Technologies, Thus.
I think I lost about 90%.

The Prince-e-Paul

Felt pissed off with the recent correction yesterday, resulting in being negative to the tune of around £500. As a result I thought play long and bought another £500 Bitcoin. The way I see it, 4 of my 5 Bitcoin purchases have been at rates higher than current, so why get put off by a market dip. 

cabbles

Not as bad as I thought it was going to be waking up this morning.  Really thought we’d have another drive down.  

Rob7Lee

I think @Covered End and @kentaddick both have good points.

I agree (with both) that bitcoin is here to stay but some will disappear. As always, only risk what you can afford to lose.

kentaddick

Covered End said:

As I said the majority of the Dot-Coms went bust.
Some survivors may have recovered their share price, but I held on to a few for 10 years and they never recovered at all. 
A few survived like Lastminute.com and some were then bought out by established companies.

I daresay Bitcoin will survive as the biggest, but many of the others? 

Well, exactly. It’s never recovered - most mid- high cap alts and Bitcoin have recovered and doubled their price since the highest point a few years ago, following a significant drop. It’s boom and bust, not a bubble.

kentaddick

Another bearish pennant and bearish divergence on 4hr.. 

CAFCsayer

kentaddick said:

Another bearish pennant and bearish divergence on 4hr.. 

Alts looking surprisingly strong... just need bitcoin to behave and its party time 

kentaddick

CAFCsayer said:

kentaddick said:

Another bearish pennant and bearish divergence on 4hr.. 

Alts looking surprisingly strong... just need bitcoin to behave and its party time 

Another move down next week would be pretty bad imo. I think we may see a pump next week, allowing the monthly candle to close with a big wick, and the weekly to print a juicy bullish divergence - if the monthly candle was to close now it looks like the top has happened if you compare this with the last bull run. 

CAFCsayer

Seen quite a few people talking a out elliot wave theory... a move down to 42ishk and then a huge parabolic run. Though I agree with you, another move down, if we break the 20w ma it's game over

kentaddick

Bottom looks like it might be in tbh, will see how the rest of today goes, but a good week for next week looks likely.

cabbles

here we go, being driven down again 

kentaddick

kentaddick said:

Another bearish pennant and bearish divergence on 4hr.. 

👀

kentaddick

kentaddick said:

Bottom looks like it might be in tbh, will see how the rest of today goes, but a good week for next week looks likely.

And let’s ignore this shall we...

Rothko

kentaddick said:

kentaddick said:

Bottom looks like it might be in tbh, will see how the rest of today goes, but a good week for next week looks likely.

And let’s ignore this shall we...

Hehe, man the subs

kentaddick

Bitcoin right now

Rothko

$44k is the 20wk MA isn't it? 

CAFCsayer

kentaddick said:

Bitcoin right now

cabbles

Odd to wake up to it back up.  

cabbles

Took a lot of the others with it as well 

FishCostaFortune

Lets hope this continues, if so I manged to top up my bags pretty much right at the bottom of this dip.

I should be so lucky though. 

kentaddick

kentaddick said:

Bottom looks like it might be in tbh, will see how the rest of today goes, but a good week for next week looks likely.

Hey wait let’s not ignore this.

running back up turbo, last nights wobble might have been the last shake out 

cabbles

kentaddick said:

kentaddick said:

Bottom looks like it might be in tbh, will see how the rest of today goes, but a good week for next week looks likely.

Hey wait let’s not ignore this.

running back up turbo, last nights wobble might have been the last shake out 

I hope so mate.  It’s as unpredictable as anything I know, but being a holder, a big bull run would be nice 

cabbles

Would love Zil to be sent if we get a little run going.  Just double it’s value, something like that.  Can definitely happen 

shine166

Wish I had the balls to top up right now, its pretty much flipping a coin at this point though. 

cabbles

shine166 said:

Wish I had the balls to top up right now, its pretty much flipping a coin at this point though. 

It really is.  Can’t tell which way we’re gonna go from here 

cafcpolo

JPMorgan going to be offering an actively managed bitcoin fund by the summer apparently.

BalladMan

Absolutely stonking day for some alts today.  XRP was up 35% at one point (little dip now before Asia comes online)?  Looks like Alt season may be underway.  Hoping ETH can get to 3k this week, 5k soon.