The Bitcoin Thread

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After 5pm and still waiting for my money to clear on Luno since I woke up. Crazy. It's gone up another R4000 per Bitcoin since this morning. Argh.

Anybody else still waiting who deposited yesterday from FNB?
 
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Good to have something looking up when all else seem to be joining the downward spiral club.
 
Watching from the sideline I have a question for you oaks more in the know. The past 10 days or so has seen quite a fast rise in price, do you think there will be just as fast a fall at some point?
Personally I think there must be a fast drop at some point, I doubt it will go very low again, maybe to around R30K or so, but something's got to give.
 
No-one knows. We've never been here before. It's new territory with a new thing. But we do know most of the fiat currencies are a house of cards... Sentiment is fickle and whimsical...
 
bigboy529 said:
Watching from the sideline I have a question for you oaks more in the know. The past 10 days or so has seen quite a fast rise in price, do you think there will be just as fast a fall at some point?
Personally I think there must be a fast drop at some point, I doubt it will go very low again, maybe to around R30K or so, but something's got to give.
Click to expand...

According to one guy's TA the RSI (Relative strength index) for BTC indicates that it is currently overvalued.
At the same time another indicates that the volume traded in relation to the price is very healthy.

He predicts a dip to about $4000 and then strengthening again beyond $5000

I'm still curious if there is a possibility of another fork in November alongside all the drama that goes along with it.
 
etienne_marais said:
According to one guy's TA the RSI (Relative strength index) for BTC indicates that it is currently overvalued.
At the same time another indicates that the volume traded in relation to the price is very healthy.

He predicts a dip to about $4000 and then strengthening again beyond $5000
Click to expand...

Thats TA for you. Might as well read tea leaves. It's why I stick to long term fundamentals and try to read market sentiment from mainstream and social media in the short term.

My theory - the more people find out about cryptos the better it does. So even when BTC crashes, the media hype gets more people to pay attention and that's why it always bounces back after a crash.
 
What to do, what to do... My deposit that I hoped would reflect on Luno yesterday morning only cleared just now. But now its R7000 more for a Bitcoin! It's like playing roulette right now.
 
Sensorei said:
What to do, what to do... My deposit that I hoped would reflect on Luno yesterday morning only cleared just now. But now its R7000 more for a Bitcoin! It's like playing roulette right now.
Click to expand...

Personally, I am not one to make decisions based on emotion. My heart says, buy more now, but my head says, look at the data. A correction is due some time in the near future, so Ill just hold what I have now, and buy more later. I could be wrong tho and BTC will never dip below $3500 again?
 
Sensorei said:
What to do, what to do... My deposit that I hoped would reflect on Luno yesterday morning only cleared just now. But now its R7000 more for a Bitcoin! It's like playing roulette right now.
Click to expand...

It wont last forever, it's impossible to say where the pull back will be, many will sell just before it reaches $5000, there could be a very large sell off near or at $5000. But this is my opinion, anything is possible now. I would invest in Altcoins, because when that dump happens, the money will flow into the other cryptos.
 
Tman* said:
Personally, I am not one to make decisions based on emotion. My heart says, buy more now, but my head says, look at the data. A correction is due some time in the near future, so Ill just hold what I have now, and buy more later. I could be wrong tho and BTC will never dip below $3500 again?
Click to expand...
I'd tend to agree with you here. There has to be a sell off sooner or later. That'll be our opportunity to buy again
 
Eish some adjustments coming through. Hard not to sell. Down $400 since this morning.
 
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