Cryptos

kentaddick said:

If we close the day around here then $44k might be possible - certainly would be the first time since October we’d have entered the 1day chart ichimoku cloud. Will mean a bit of ranging for a while with $44k being the bottom

Just to add to this, if we close the day above the cloud/on the line I’d say we’re in a better shape. Bullish divergence on the 4hr 

CAFCsayer said:

Saying that... I don't think we've topped out yet. But Tiktokers bragging of 10x on Safe Moon, ASS, and CumRocket is exactly the kind of top signal from last bull run

once tiktokers are going into presales and bragging about that - that's a top signal. I think the meme coins are the signal that we're into the second half of the bull run imo.

SheedyCAFC said:

Isn’t cryptocurrency just a middle class version of gambling?

No, but also, yes. 

Finally DEFLCT a bag I’ve been holding for a while is finally in profit - up 60% in the last 24 hrs and about to rebrand to PRISM with various pools opening. 

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.

cabbles said:

There’s always a risk, and I was only 18/19 in the dot.com bubble, so will always take advice from people that lived through it.  

I would say this all very speculative for me, and I accept the risks.  However, we are moving to an increasingly digital world.  We just don’t know what technology is going to be dictating how we live 20 years from now.  

It could be that all these institutional investors piling in will be a play on their part to push the price up, take the money and run.  The more knowledge and reading I do, I think it’s worth putting money into.

I also think that it’s the next generation that will also be very focused on crypto and I have already engaged with a few kids who are very switched on and talk about this in a way I don’t think my generation did with paper money.  It will be their generation in the future, so who knows what they will want to focus on

I’m almost certain most things we’ll do on the internet and websites etc we use will be blockchain based in 20 years. The banking system will also be defi based. There’s some crypto/defi based banks that will have products here in the Uk in a few months that will offer interest rates of 2-3%, which is significantly more than any other bank account you can get now.