Cryptocurrency

[BeTheChange]

How we all doing. Looks like the bull market will continue into the new year. Managed to catch the IOTA wave nicely.

Bought some WTC recently. A reliable friend is an architect who did some work for them and said they are expecting some good news to be announced around the 10th December and so the price should increase sharply.

Also sold my Verge at a decent profit and bought some more Monero on the news that Mariah Carey and a few other famous artists will accept it as currency for album purchases.

 

[jaygreenb]

How we all doing. Looks like the bull market will continue into the new year. Managed to catch the IOTA wave nicely.

Bought some WTC recently. A reliable friend is an architect who did some work for them and said they are expecting some good news to be announced around the 10th December and so the price should increase sharply.

Also sold my Verge at a decent profit and bought some more Monero on the news that Mariah Carey and a few other famous artists will accept it as currency for album purchases.

For WTC, do you know if that is in reference to the guardian masternode? They said they are giving special status to early adopters.

 

[ChristopherColumbus]

Could be a parabolic spike here:

 

[Serenity]

How we all doing. Looks like the bull market will continue into the new year. Managed to catch the IOTA wave nicely.

I caught the good news about IOTA, being from Norway and all. Didn't think too much of it, saw there was an immediate rise in the price, but thought it wouldn't continue. Until I looked today, I should have put some money in a few days ago...

I dumped some of my ETH for some IOTA just now. Ethereum is also struggling with those damn kitties, transaction took me almost an hour -.-

 

[ChristopherColumbus]

Amateur chart time. A near thousand dollar move up today alone!

 

[BeTheChange]

Mulling over selling 50% of my LTC for BTC. With all the new money flowing in I think BTC is a better long term bet.

 

[BeTheChange]

Scratch that! Charlie Lee and the Litecoin foundation released statements saying they are going to focus heavily on promoting LTC so will be holdin my investment for a while longer.

Investors have caught on to just how monumental Internet of Things and blockchain technology is. StreamR DATA is pumping hard. For those who missed out on IOTA this is the next big thing. Less than 1% of the market cap of IOTA with a similar concept, a product in beta and an all star team. Expecting great things from this.

Wabi hits exchanges soon. This is definitely one to watch. Even made the BBC news. I managed to get into the ICO but will be grabbing as much as I can once it hits the exchange.

http://www.bbc.com/news/business-42152892

 

[TheGambino]

I just sold a bit of my bitcoin sharings too invest in IOTA. I will report back.

 

[switch7]

anyone having trouble buying bitcoin in coinbase? My BTC transaction has been pending for over 12 hours now.... Obviously due to the buy frenzy but just worried that the transaction wont be honoured...

 

[switch7]

Also, anyone got any views what will happen to prices when futures market opens? Anyone think the big guys will be selling contracts to buy at lower prices in the physical market?

 

[TheGambino]

Also, anyone got any views what will happen to prices when futures market opens? Anyone think the big guys will be selling contracts to buy at lower prices in the physical market?

Same

 

[switch7]

A thought provoking view from an anonymous poster regarding bitcoin on another forum:


"I take my profit at $15,000. Why? All cryptocurrencies will then have a market value of approx. $500bn.

I assume that some time in the future bitcoin will take its intended function as a transaction currency (currently it's not, because at an annual deflation rate of more than 90%, anybody using it for transactions instead of saving will feel to be a complete fool). So how much cash do you want to have in your wallet for transactions? 1 month's salary? More? Less? How many people will use bitcoin for transactions? Currently certainly not many, either because they ignore bitcoin or it's too volatile to use.

When e.g. 2% of the world's working population will have cash in bitcoin of let's say $5,000, this would lead to a market cap of $500bn. When we assume that 10% have $2,000, then the market cap would be $1tn.

So I assume that we are either already at the top or with a low probability the price could go to $40,000 max. I prefer to take the profit soon as further risk/return is not really appealing."

 

[TheGambino]

A thought provoking view from an anonymous poster regarding bitcoin on another forum:


"I take my profit at $15,000. Why? All cryptocurrencies will then have a market value of approx. $500bn.

I assume that some time in the future bitcoin will take its intended function as a transaction currency (currently it's not, because at an annual deflation rate of more than 90%, anybody using it for transactions instead of saving will feel to be a complete fool). So how much cash do you want to have in your wallet for transactions? 1 month's salary? More? Less? How many people will use bitcoin for transactions? Currently certainly not many, either because they ignore bitcoin or it's too volatile to use.

When e.g. 2% of the world's working population will have cash in bitcoin of let's say $5,000, this would lead to a market cap of $500bn. When we assume that 10% have $2,000, then the market cap would be $1tn.

So I assume that we are either already at the top or with a low probability the price could go to $40,000 max. I prefer to take the profit soon as further risk/return is not really appealing."

Still waiting on my transfer from blockchain to binance, its taking 10 hours now. Ridiculous. I want to invest in other currencies NOW.

 

[ChristopherColumbus]

A thought provoking view from an anonymous poster regarding bitcoin on another forum:


"I take my profit at $15,000. Why? All cryptocurrencies will then have a market value of approx. $500bn.

I assume that some time in the future bitcoin will take its intended function as a transaction currency (currently it's not, because at an annual deflation rate of more than 90%, anybody using it for transactions instead of saving will feel to be a complete fool). So how much cash do you want to have in your wallet for transactions? 1 month's salary? More? Less? How many people will use bitcoin for transactions? Currently certainly not many, either because they ignore bitcoin or it's too volatile to use.

When e.g. 2% of the world's working population will have cash in bitcoin of let's say $5,000, this would lead to a market cap of $500bn. When we assume that 10% have $2,000, then the market cap would be $1tn.

So I assume that we are either already at the top or with a low probability the price could go to $40,000 max. I prefer to take the profit soon as further risk/return is not really appealing."

Why would you take your profits on a parabolic spike upwards?

 

[ChristopherColumbus]

Next stop target 24,000. This month... based on above chart and current parabolic spike.

 

[switch7]

Next stop target 24,000. This month... based on above chart and current parabolic spike.

all trends end at a parabolic move i guess. Personally im not looking to get out but one thing i do know is that when it does start crashing, we wont be able to get out before atleast 25 to 30% of profit is gone and in some cases all profit. Kinda like in 2008 when the markets crashed, brokers close their doors until the dust settles, by that time you are at a huge loss.

 

[switch7]

Why would you take your profits on a parabolic spike upwards?

if we do get a decent retracement I will probably buy heavy around 12000

 

[ChristopherColumbus]

all trends end at a parabolic move i guess. Personally im not looking to get out but one thing i do know is that when it does start crashing, we wont be able to get out before atleast 25 to 30% of profit is gone and in some cases all profit. Kinda like in 2008 when the markets crashed, brokers close their doors until the dust settles, by that time you are at a huge loss.

My aim is to keep 2/3 long, and try to sell 1/3 on the coming spike.. in order to buy at the new consolidated level.

 

[switch7]

My aim is to keep 2/3 long, and try to sell 1/3 on the coming spike.. in order to buy at the new consolidated level.

sounds like a good plan.

 

[ChristopherColumbus]

if we do get a decent retracement I will probably buy heavy around 12000

If the spike carries on up this month, then I doubt we will see these kinds of levels again. The monthly log chart gives you a better picture of what's going on with the spike in my opinion.

As for the trading chart, due to the 'compression' of all the action we are seeing [the parabolic move] that is perhaps best seen in the hourly charts.