Need some advice on crypto trading

Crypto is a gamble. First write off everything you put in. If you rely of crypto to cover any new commitments you're doing it wrong and this is where everyone gets burned in crypto without exception. Rather hold off until you have the cash.

Now let's deal with the elephant in the room. The crypto market is down. Most companies who invested in the crypto mania are down. Most of those are leveraged positions so they are posting huge risks and can't hold out a downturn. This will likely exacerbate the downturn and show everyone that crypto is not an investment and end the institutional madness which the zealots have relied on.

We are overdue a downturn and all the indicators are showing this to be a repeat of the 2018 crash.

Crypto Analyst Warns 90% Bitcoin Price Crash Is Coming, Here’s When

The Bitcoin price has soared to historic highs this year, but not everyone believes the rally will last. A new warning from a crypto analyst suggests that the world’s largest cryptocurrency could
www.mitrade.com www.mitrade.com
 
Swa said:
Crypto is a gamble. First write off everything you put in. If you rely of crypto to cover any new commitments you're doing it wrong and this is where everyone gets burned in crypto without exception. Rather hold off until you have the cash.

Now let's deal with the elephant in the room. The crypto market is down. Most companies who invested in the crypto mania are down. Most of those are leveraged positions so they are posting huge risks and can't hold out a downturn. This will likely exacerbate the downturn and show everyone that crypto is not an investment and end the institutional madness which the zealots have relied on.

We are overdue a downturn and all the indicators are showing this to be a repeat of the 2018 crash.

Crypto Analyst Warns 90% Bitcoin Price Crash Is Coming, Here’s When

The Bitcoin price has soared to historic highs this year, but not everyone believes the rally will last. A new warning from a crypto analyst suggests that the world’s largest cryptocurrency could
www.mitrade.com www.mitrade.com
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Down? Wat?

There is no downturn.

IMG_1972.jpeg

Investors are down? Wat?

IMG_1973.jpeg
 
SauRoNZA said:
Down? Wat?

There is no downturn.

View attachment 1847756

Investors are down? Wat?

View attachment 1847757
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Dude, you're looking at a high on a 5 year scale. The last few months have been negative with sideways trading.
Also nice cherry picking
www.reuters.com

Investors retreat as shares in bitcoin buyers decline

Companies that accumulate and hoard bitcoin and other cryptocurrencies have suffered sharp drops in their share prices as the crypto mania that has gripped investors for much of the year recedes.
www.reuters.com www.reuters.com
 
Swa said:
Dude, you're looking at a high on a 5 year scale. The last few months have been negative with sideways trading.
Also nice cherry picking
www.reuters.com

Investors retreat as shares in bitcoin buyers decline

Companies that accumulate and hoard bitcoin and other cryptocurrencies have suffered sharp drops in their share prices as the crypto mania that has gripped investors for much of the year recedes.
www.reuters.com www.reuters.com
Click to expand...

Yes, because 5 years or longer is the only thing that should matter to investors.

Traders care about short term, not investors.

Your confusion of these terms really says it all.
 
Swa said:
Dude, you're looking at a high on a 5 year scale. The last few months have been negative with sideways trading.
Also nice cherry picking
Click to expand...
How far back are we going when referring to 'the last few months'?

MONTHS.png


But that really is beside the point:

MB.png
 
SauRoNZA said:
Yes, because 5 years or longer is the only thing that should matter to investors.

Traders care about short term, not investors.

Your confusion of these terms really says it all.
Click to expand...
It's not. As we've seen many times institutional investors will get rid of volatile and risky assets in times of uncertainty and go for safe havens like gold. That gold has seen a 30% upclimb while Bitcoin has only seen 8% says a lot and the market has retreated. You may wish they only care about the long term but it's not the case and especially with crypto there's no guarantee there will even be a return in 5 years.

saor said:
How far back are we going when referring to 'the last few months'?

View attachment 1847819


But that really is beside the point:

View attachment 1847820
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What is the point? That Bitcoin has seen about an 8% ytd increase while the market has been in retreat since about June?

But this is so predictable and happened in 2017 and 2021 with zealots punting Bitcoin while ignoring all the other technicals.
 
Swa said:
What is the point? That Bitcoin has seen about an 8% ytd increase while the market has been in retreat since about June?
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That to call something sitting at basically an ATH a 'down market' is a bit misleading.
That to call something that's only appreciated in the long term view a 'down market' is a bit misleading.

BTC always goes through these cycles of high then low. Yes we're sitting at a high right now and a correction is due, but a 'down market' is really just your expectation of market conditions if BTC follows the cycle of going down again. It's certainly not a reflection of the current price.

(I cba about institutional investors and market cap etc. For 90% of people dabbling in crypto the only relevant metric is price and profit / loss and when viewed through that basic lens I'd hardly call the current state of bitcoin a market that's down.)
 
saor said:
That to call something sitting at basically an ATH a 'down market' is a bit misleading.
That to call something that's only appreciated in the long term view a 'down market' is a bit misleading.

BTC always goes through these cycles of high then low. Yes we're sitting at a high right now and a correction is due, but a 'down market' is really just your expectation of market conditions if BTC follows the cycle of going down again. It's certainly not a reflection of the current price.

(I cba about institutional investors and market cap etc. For 90% of people dabbling in crypto the only relevant metric is price and profit / loss and when viewed through that basic lens I'd hardly call the current state of bitcoin a market that's down.)
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And there is your problem. For you it's all about Bitcoin. The market is down - fact. Coupled with the other metrics it's showing we are in a downturn and are likely headed for a major correction, not just in the price of Bitcoin. Saying that we are not in a downturn because Bitcoin is a bit higher is like going into Checkers and seeing the price of sweetpotatoes at R20 from R30 and then claiming food prices are down. It's a shortsighted view that does not look at the full picture.
 
Swa said:
And there is your problem. For you it's all about Bitcoin. The market is down - fact. Coupled with the other metrics it's showing we are in a downturn and are likely headed for a major correction, not just in the price of Bitcoin. Saying that we are not in a downturn because Bitcoin is a bit higher is like going into Checkers and seeing the price of sweetpotatoes at R20 from R30 and then claiming food prices are down. It's a shortsighted view that does not look at the full picture.
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And on earth are you talking about?

Basically every Layer 1 coin is deep in the green over the 6 month charts and those are the highest market caps.

Your facts are coming out of your ass.

Also where on earth are you getting your bizarre 8% numbers from? EC10 equally dated is up a 110% for the year.

Bitcoin itself is up 95% for the year.

And even if you look strictly at YTD it’s still 23% not 8%.

Are we living in the same timeline?
 
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SauRoNZA said:
And on earth are you talking about?

Basically every Layer 1 coin is deep in the green over the 6 month charts and those are the highest market caps.

Your facts are coming out of your ass.

Also where on earth are you getting your bizarre 8% numbers from? EC10 equally dated is up a 110% for the year.

Bitcoin itself is up 95% for the year.

And even if you look strictly at YTD it’s still 23% not 8%.

Are we living in the same timeline?
Click to expand...
Whatever you want to believe. The facts and figures don't paint the picture you want to paint. And saying BTC is trading at an ATH is misleading. It's trading in a ~10% band of which the bottom is ~R110k. Guess where it was trading mid Dec. Sorry but a few percentage points aren't better than stock market returns and is not what has been punted.
 
Swa said:
Whatever you want to believe. The facts and figures don't paint the picture you want to paint. And saying BTC is trading at an ATH is misleading. It's trading in a ~10% band of which the bottom is ~R110k. Guess where it was trading mid Dec. Sorry but a few percentage points aren't better than stock market returns and is not what has been punted.
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I don't think you know what you are talking about saying Bitcoin is in a downturn and then market is down etc. $4.1tr market cap is not in a downturn

You might want to listen to people who study financial indicators etc, PlanB or Benjamin Cowen.

We are most certainly in a bull market.
 
So I just had another look. Excluding stable coins the top ten are either trading sideways or down. The only one showing any bullish behaviour is BNB because Binance has been artificially pushing it at every turn they can.

There's also a lot of concern and movements on the stock market that will eventually spill over into crypto. Since the Trump mania has cooled off the last 9 months have actually not been a good year for crypto overall with the last few months giving mostly negative returns. Most of the bullish behivour actually happened last year.
 
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