Bitcoin Thread - 2018

John Tempus

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So you reckon it's a $1300 dead cat bounce?
Ive given up to speculate in such a wide range since most of the time an actual dead cat bounce spike would dump much faster without this 10400->10500 -> 10600 climb afterwards.

The pump and dumpers on the other hand might also be smart enough to realize this and could disguise the true conditions.

At this moment after this 10%+ pump the only real indication if its real or just fuel for a dump would be to see how it goes entering the weekend and then the ultimate test come monday what happens in the market.

We had a long period of thursday/friday/weekend dumps and then mon->thu pumps , we might have a reversal on our hands with weekends pumps and then mon-thu dumps cycles right now.

In short Im not confident at all in this market so just ignore the direction hype and just trade scalping peaks and valleys / ranges as if nothing is happening.
 

phly

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Ive given up to speculate in such a wide range since most of the time an actual dead cat bounce spike would dump much faster without this 10400->10500 -> 10600 climb afterwards.

The pump and dumpers on the other hand might also be smart enough to realize this and could disguise the true conditions.

At this moment after this 10%+ pump the only real indication if its real or just fuel for a dump would be to see how it goes entering the weekend and then the ultimate test come monday what happens in the market.

We had a long period of thursday/friday/weekend dumps and then mon->thu pumps , we might have a reversal on our hands with weekends pumps and then mon-thu dumps cycles right now.

In short Im not confident at all in this market so just ignore the direction hype and just trade scalping peaks and valleys / ranges as if nothing is happening.
That's one way to play it - makes sense.
 

John Tempus

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That's one way to play it - makes sense.
Range trading off pivot points have been my best trading periods such as the last 2 days. I completely stay out of pump and dumps , only gamblers make profit from that and if I want to gamble Id go to a casino. ;-)
 

Tjoker

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Another moaning about regulation in this space...

"Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel. "

https://www.project-syndicate.org/commentary/cryptocurrency-exchanges-are-financial-scams-by-nouriel-roubini-2019-07
 

phly

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Another moaning about regulation in this space...

"Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel. "

https://www.project-syndicate.org/commentary/cryptocurrency-exchanges-are-financial-scams-by-nouriel-roubini-2019-07
I think the more fiery one is bitmex being investigated by the CFTC and rumours of it losing its "Market Makers" evident in the thin market books... May explain the sporadic mini pumps and dumps today. Just speculating here not stating facts.
 

John Tempus

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I think the more fiery one is bitmex being investigated by the CFTC and rumours of it losing its "Market Makers" evident in the thin market books... May explain the sporadic mini pumps and dumps today. Just speculating here not stating facts.
Bitmex news is all huff and puff, as long as Bitmex does not allow USA citizens to register and do everything they possibly can to ensure that then the CTFC have zero say over how Bitmex operates.

Every single exchange even USA based such as coinbase, kraken etc. price moves no different to that of bitmex, sometimes bitmex would lead the market and sometimes one of these other USA friendly exchanges would lead the market.

So the price movements, manipulation or not, does not always start or end at bitmex or some non-USA regulated exchange thus this entire puff piece if just smoke and mirrors.
 

John Tempus

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Dear crypto gods could we please get some volatility today because yesterday the market movement was so boring I fell asleep multiple times in front of my terminals.

Thank you.
 

Thor

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Dear crypto gods could we please get some volatility today because yesterday the market movement was so boring I fell asleep multiple times in front of my terminals.

Thank you.
I'll give you the drop of God tomorrow at 8:46PM UCT +3
 

Countcrypto

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Sub $5k is what we want.
I think that is a cope. Surely swing traders aside, everyone who holds any bitcoin finds the risk of bitcoin failing to make a higher high over a further extended period of time, as far too risky that it never will again. There's nothing fundamental to say Btc will have massive value other than the long term trend, and a failure to make a higher high soonish breaks the trend.
 

John Tempus

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I think that is a cope. Surely swing traders aside, everyone who holds any bitcoin finds the risk of bitcoin failing to make a higher high over a further extended period of time, as far too risky that it never will again. There's nothing fundamental to say Btc will have massive value other than the long term trend, and a failure to make a higher high soonish breaks the trend.
Correct.

Thing that most of the "hodler" cult seem to forget is that there is no hard and fast rule that dictate bitcoin will keep going up and double or triple just cause of every halving.

The closest certainty for bitcoin and some other altcoins is that it is very unlikely to just completely go away or drop to $0 but at the same time its very unlikely in my view that it will just keep going up infinitely as too many crypto fanatics seem to think.

There will be an eventual ceiling , it might be $20k or it might be $100k or it might be $1million but in the mean time the only thing you do have is a constant price that changes and that is the only guaranteed situation where you could make profit out of crypto.

Purest hodlers will be the guys ending up at the back of the line in profit when the wheels start to slow down to a halt while the ones who could identify times to enter the market and times to exit would be way better off.

Some might scoff at what I am about to say but I see the BTC price as something closer to original Moores Law where you get to a stable pivot point much faster than many people ever imagined similar to how cpu clock speeds exponentially reached its upper limit I also believe that is what happened with the rapid price increases over just the last 9-10years for BTC.
 

Swa

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Correct.

Thing that most of the "hodler" cult seem to forget is that there is no hard and fast rule that dictate bitcoin will keep going up and double or triple just cause of every halving.

The closest certainty for bitcoin and some other altcoins is that it is very unlikely to just completely go away or drop to $0 but at the same time its very unlikely in my view that it will just keep going up infinitely as too many crypto fanatics seem to think.

There will be an eventual ceiling , it might be $20k or it might be $100k or it might be $1million but in the mean time the only thing you do have is a constant price that changes and that is the only guaranteed situation where you could make profit out of crypto.

Purest hodlers will be the guys ending up at the back of the line in profit when the wheels start to slow down to a halt while the ones who could identify times to enter the market and times to exit would be way better off.

Some might scoff at what I am about to say but I see the BTC price as something closer to original Moores Law where you get to a stable pivot point much faster than many people ever imagined similar to how cpu clock speeds exponentially reached its upper limit I also believe that is what happened with the rapid price increases over just the last 9-10years for BTC.
Wholeheartedly agree with this. I think the best days for the hodlers are over. The Bitcoin craze will likely fizzle out and we'll see a stable price. Holding will likely see people make no more than from a good investment if it ever reaches that point and not end lower. The days of a million percent are likely over.

Many of the whales we see today are likely from the days when it was $1.
 

Knyro

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Dear crypto gods could we please get some volatility today because yesterday the market movement was so boring I fell asleep multiple times in front of my terminals.

Thank you.
Go 50x with 20% of your stack, then even a $50 move is exciting. :cool::thumbsup:
 

Swa

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And nice reversal there. Support held and resistance was shattered. $11k here we come. :love:
Never underestimate the power of manipulation. Last time I scalp such a big move. Potential for loss is just too big. :(
 

John Tempus

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I am looking for 10-20 people who currently trade on bitmex or want to trade on bitmex but either making huge losses or simply unable to reliably get winning trades.

Currently working on automated system to publish the trade signals and once that is up I will be finishing up the trading bot that will automate everything ETA about 2 months from now.

If you are interested drop me a PM , I am not charging anything for this right now. First stage is just to get different traders to follow the strategy to get more results from different traders faster. It helps isolate any trading bias before taking the system public. Following the trading advice is straight forward as long as you can read and enter numbers and click mouse buttons you will be able to use it. :p

That being said after the users who get in touch see the advice and results I will be introducing a fee for it early on, nothing is free, but at the same time its more important to me that anyone using the advice can get a first hand look at real live results before paying for anything.

So just a some basic important things to keep in mind.

Trading balance : Have at least 0.10 BTC starting balance, higher the better. You could get away with less but due to the nature of how my strategy works if your base trading balance is too low the gains per trade might not be appealing value wise at the beginning.

Leverage : Be prepared to use nothing higher than 10x leverage.

New Bitmex account : The only thing I would be asking from anyone who want to take me up on this offer is to use my referral code at bitmex at least during the period that I offer this for free.

You will be pleasantly surprised with the results. :)

Its not a gambling trading strategy, dont even think you could just 100x or 50x leverage your trades, this is not for you. Trading is only with 5-10x leverage range, nothing higher. If making money at up to 10x leverage is not good enough for you please do not message me, you are not in this to make money and not meant for this trading strategy.
 
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phly

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The $10 000 BTC floor has cracked ... seems to be a matter of time before we see lower levels
 
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