Bitcoin Thread - 2018

SaiyanZ

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Looks like the slow dump started. If we have already topped out then I expect something like this. First proper bounce at around $6800. If still very bullish then $7600 or $7200 bounce and possibility of new high.

 

Countcrypto

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Looks like the slow dump started. If we have already topped out then I expect something like this. First proper bounce at around $6800. If still very bullish then $7600 or $7200 bounce.

A ton of news and hype incoming. A correction and sell off is way overdue, but it's probably too late the put the bull back in it's box. A lot of people are waiting for this dip to get involved so expect any classical 2018 type "dumps" to get bought up quickly.
 

SaiyanZ

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A ton of news and hype incoming. A correction and sell off is way overdue, but it's probably too late the put the bull back in it's box. A lot of people are waiting for this dip to get involved so expect any classical 2018 type "dumps" to get bought up quickly.

ETF was delayed again a couple hours ago. Apparently that is what triggered the selloff now.

If I remember correctly crypto news was usually a bad thing in 2018 (good or bad news). If it was good then it usually came after the pump happened because insiders bought early. So when the good news hit the market they were ready to dump as everyone fomo bought. And bad news is just bad news.

The timing of all this good news is suspect. Comes only after it pumped once again, from $4000 to $8000. The move is also almost exactly 100% from where the $4200 pump started. A nice round number to close it off at.

 

Countcrypto

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ETF was delayed again a couple hours ago. Apparently that is what triggered the selloff now.

If I remember correctly crypto news was usually a bad thing in 2018 (good or bad news). If it was good then it usually came after the pump happened because insiders bought early. So when the good news hit the market they were ready to dump as everyone fomo bought. And bad news is just bad news.

The timing of all this good news is suspect. Comes only after it pumped once again, from $4000 to $8000. The move is also almost exactly 100% from where the $4200 pump started. A nice round number to close it off at.

You're not following any crypto news clearly. There is so much bullish stuff being announced right now. I am sure people did well shorting the bear market, but all good things must come to an end.
 

Swa

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Can somebody explain why the Bitmex withdrawal fee is so high when they consolidate all withdrawals?
 

John Tempus

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Can somebody explain why the Bitmex withdrawal fee is so high when they consolidate all withdrawals?
You can set the bitmex withdrawal fee to 0 if you choose. Bitmex doesn't actually consolidate all withdrawal requests made at 3pm each day. I have tested this withdrawing from multiple accounts and when they got processed they were send via different transactions in different blocks but their approach to using the optimal fee calculation by default is reasonable.

Still you can set it to 0 and just hope to get it clear within next 100 blocks.
 

John Tempus

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So if the last 2 days play out today again we might be testing 7200 or if that crash possibly break through 7000 after the dump session that is sure to follow later today goes into high gear.

Today could bring some fantastic low entries for new longs.

I am putting 50% of my new longs on 7000.5 and then evenly spread out in $50 segments up to $7500 at the highpoint for a new long session.
 

Thor

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So if the last 2 days play out today again we might be testing 7200 or if that crash possibly break through 7000 after the dump session that is sure to follow later today goes into high gear.

Today could bring some fantastic low entries for new longs.

I am putting 50% of my new longs on 7000.5 and then evenly spread out in $50 segments up to $7500 at the highpoint for a new long session.
You'll get rekt if you enter at 7k. We are going much lower.
 

John Tempus

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You'll get rekt if you enter at 7k. We are going much lower.
Not at all. If I fill up between 7500 down to 7000 I would sit on roughly $7250 long entry at 5x leverage which would liquidate around $5.2k but I have double barrel to cover margin doublefold so I would be safe all the way down to +- $3k , not a worry at all if the biggest pile of poo somehow occurs.

The beaut of a decent bankroll is not having to be too greedy with high leverage more often than not lately I deal with 4x up to 8x leverage max.

Anyhow I am not that concerned , pretty confident $7k will get tested and bounce right back. Confident we have hit the low end at $3k long gone.
 

Thor

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Not at all. If I fill up between 7500 down to 7000 I would sit on roughly $7250 long entry at 5x leverage which would liquidate around $5.2k but I have double barrel to cover margin doublefold so I would be safe all the way down to +- $3k , not a worry at all if the biggest pile of poo somehow occurs.

The beaut of a decent bankroll is not having to be too greedy with high leverage more often than not lately I deal with 4x up to 8x leverage max.

Anyhow I am not that concerned , pretty confident $7k will get tested and bounce right back. Confident we have hit the low end at $3k long gone.
Greek to me :p lol

I don't know how to short (what exchange allows it), cause I would short quite a few stocks, but that would proably be insider trading given my knowledge. fml


All I do (can do) is buy low, sell high
 

Swa

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You can set the bitmex withdrawal fee to 0 if you choose. Bitmex doesn't actually consolidate all withdrawal requests made at 3pm each day. I have tested this withdrawing from multiple accounts and when they got processed they were send via different transactions in different blocks but their approach to using the optimal fee calculation by default is reasonable.

Still you can set it to 0 and just hope to get it clear within next 100 blocks.
No the minimum is stated as 0.0011 which is the same as the recommended. That's like R100 which is more or less what it was during the fomo of 2017.

Yawn. On what basis does an asset that has retracted more than 80% need to go "much lower"?
On the basis that that $20k was an anomaly that should never have happened. $8k is still too high. Realistically an asset such as Bitcoin should not appreciate more than 20% a year and BTC is still too high.
 

Countcrypto

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No the minimum is stated as 0.0011 which is the same as the recommended. That's like R100 which is more or less what it was during the fomo of 2017.


On the basis that that $20k was an anomaly that should never have happened. $8k is still too high. Realistically an asset such as Bitcoin should not appreciate more than 20% a year and BTC is still too high.
Why? Historically the data shows the next top is 100k for btc. Rightfully or wrongly that's what the data shows. If you are approaching this from a purely objective perspective then play it that way. If you are trading from emotion then prepare to get wrekd.
 

Swa

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Why? Historically the data shows the next top is 100k for btc. Rightfully or wrongly that's what the data shows. If you are approaching this from a purely objective perspective then play it that way. If you are trading from emotion then prepare to get wrekd.
I am. If it reaches 100k soon there will be a major correction (90%+). How does the history show the next top is 100k? Not saying it can't happen but it will be majorly overbought. 20% is a realistic growth. That's why there are these major "corrections" and the more stretched out they get the larger they get. We had the 50%'s, the 75%'s, the 85%'s and we will see the 90%'s and 95%'s because that's what the historical data really shows. That's why we had the drop to $3000 as that is a current realistic value.

Sure there was an initial growth spurt but that's not unusual for any asset while the market decides what the true value should be. After that it fizzles out and gets more realistic so you can't really trust historical data.
 

Countcrypto

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I am. If it reaches 100k soon there will be a major correction (90%+). How does the history show the next top is 100k? Not saying it can't happen but it will be majorly overbought. 20% is a realistic growth. That's why there are these major "corrections" and the more stretched out they get the larger they get. We had the 50%'s, the 75%'s, the 85%'s and we will see the 90%'s and 95%'s because that's what the historical data really shows. That's why we had the drop to $3000 as that is a current realistic value.

Sure there was an initial growth spurt but that's not unusual for any asset while the market decides what the true value should be. After that it fizzles out and gets more realistic so you can't really trust historical data.
100k is very conservative. 300 or 400k is more likely.

Look at btc over the longer time frame and the 2017 highs of 20k were nothing exceptional and nothing more dramatic or freakish than previous bull runs proportionally. Nor should u be surprised when 2017 proves just to be a tiny blip relative to the next bull highs.

It made as much sense for btc to go to 20k as it did for it to go to 100$, or 1000$ etc. And same will be said when it inevitably goes to 100k this coming run.
 

Swa

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100k is very conservative. 300 or 400k is more likely.

Look at btc over the longer time frame and the 2017 highs of 20k were nothing exceptional and nothing more dramatic or freakish than previous bull runs proportionally. Nor should u be surprised when 2017 proves just to be a tiny blip relative to the next bull highs.

It made as much sense for btc to go to 20k as it did for it to go to 100$, or 1000$ etc. And same will be said when it inevitably goes to 100k this coming run.
You're forgetting multiple factors. Bitcoin was going through a stage of adoption where nobody was interested in it up to where tech enthusiasts were adopting it. That stage is largely over so unless you get it on track towards a major currency used by the general populace there's no more growth left. What the track record shows is that its value is a power of its user base. That product will lie somewhere around $3300 currently.

Sure you can look at the highs but there's equally the lows. The lows have equal if not more earning potential. What we saw with the bubble burst down to $3k is that it's probably where the true buying power was at the time and a reflection of its real value.
 
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