The Bitcoin Thread

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Noock said:
I don't think it will hit 35k... I'll aim to buy at around 40k...
In dollar terms it looks like the bottom should be around 2900...

I think now that a second Chinese exchange has announced its shutting, it would be safe to assume that most investors will price in the closing of all Chinese exchanges :/
You can argue that this is an overreaction to the Chinese exchanges closing, but the market seemed due for a pullback...
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Unfortunately I only joined the party at R60k+ so I'm in for the long hodl. But I see it's floating around the 44k mark so even if it does start shooting up soon I don't mind waiting a little to buy in ... at the risk of waiting to see what happens with China.

Apparently they will stop trading on 30/09, though I have no idea what effect that will have.

What's worse, I'm away from the internet for 8 days from tomorrow so I have no idea what I'm going to return to. :o I think I'm going to stick to the 35k order and if it's risen to above 49k again then I'll buy in. Heh this is stressful but exciting. Glad I only used flexible savings.
 
Mr.Ree said:
Great idea.. I'm looking for a further drop and I'll invest about 25K
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Sundays are normally a good day to buy. Volumes are low, and with the "bad China news" in the air, I am thinking it might be a good time to buy this coming Sunday. This is not trading advice though, just a trend I have noticed. Use it, don't use it....
 
balrog said:
I bough some at 46K and a bit more at 45k. Gonna add some funds to put in lower buy orders for over the weekend...
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Is it rude to ask what ball park figure would be defined as "a bit"? I have no idea how much users buy or have and I find that part in itself quite fascinating.

Especially the old guard who bought at R1k etc.

I'd love to eventually get to the 1BTC figure and then just HODL and forget, but I'd have to wait for it to drop alot before I can do that.
 
I'm scaling in my investment, I've bought back around 15% of what I had at 44k this morning.
Will monitor the market and keep buying back in increments, if it hits 40k or under then I'm all in...
 
balrog said:
Sundays are normally a good day to buy. Volumes are low, and with the "bad China news" in the air, I am thinking it might be a good time to buy this coming Sunday. This is not trading advice though, just a trend I have noticed. Use it, don't use it....
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Will have a look at it.. don't worry lol at my own risk
 
This is a rumor, so take it as such...

Apparently some of the Chinese exchanges have been taking Fiat deposits and investing in high risk, highly leveraged property funds and the Chinese government see this as a house of cards, given the property bubble in China is at an all time high. This seems to be the reason behind the closure of some exchanges. The Chinese government want to stop this practice and put regulations in place to ensure something like this does not happen again.

if this is true, it is not even about Bitcoin. If so, IMHO the BTC price will recover very well after all the jitters are shaken out and the real story breaks. Hopefully buy low this weekend, then smile again by the end of next week :)
 
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SaiyanZ said:
A few laughed off this post from just a week ago. Things have changed fast.



He got a few replies like "what are you smoking", "I'll sell my kidneys to buy more at that price". Looks like deja vu.
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I understand the drop to 2900, I think most traders have said that. But I can't see a reason for it to drop to 2k. What is the argument for that to happen?
 
Noock said:
I'm scaling in my investment, I've bought back around 15% of what I had at 44k this morning.
Will monitor the market and keep buying back in increments, if it hits 40k or under then I'm all in...
Click to expand...

I've set 20% at 40k and 80% at 35k. It probably won't hit that, but if it does, cool. If it turns and goes back up I'm still happy to buy 100% at 47k. A long way off from the recent 68k buying I did. :o
 
https://www.forbes.com/sites/eugene...-the-facts-from-the-assumptions/#7baeb0d866f7

This is an indication of what governments think of open boarders and how they will protect themselves at all costs. Crypto is a financial revolution. Placing control of money back in the worlds hands. As such big business and governments are going to want to apply regulation and control. I foresee other countries either implementing knee jerk policies, or outright banning crypto. In the long run information and freedom is something that a lot of governments (China) want to control. As such crypto is something people are going to gravitate towards. At some point it will start to become the norm, and when the kids of government officials start using it, they'll all calm the f* down.

So crypto is here to stay. The question is what is going to survive and what will it look like in 10 years. BTC is going to be around.
 
Noock said:
I understand the drop to 2900, I think most traders have said that. But I can't see a reason for it to drop to 2k. What is the argument for that to happen?
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We will know in a week or two if it does happen. Just like those other guys last week thought that $2900 wasn't possible. There was also no argument from them for $2900 at the time.
 
Noock said:
FYI if any of you don't have the app "Blockfolio" you should consider getting it. It's fantastic.
Can keep a portfolio of all cryptos... But can also view graphs and order books for all exchanges...
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Excellent app! +1000

K, Ive maxed out my liquidity on BTC for time being. I suspect it will probably drop a little more, before starting the next cycle.

Time to HODL.
 
saor said:
Originally Posted by PAYBACK View Post
HODL..ing onto my money bag until I see $2950. Soon
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saor said:
It'll be $6500 soon and your money bag will be smaller. I've given up trying to short-game btc...buy at whatever the current rate is and sit on it. If it sees $2950 I'm in with my kidneys.
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Saor hows recovery going after your Nephrectomy :crylaugh:
 
Sensorei said:
How long does Standard Bank to Luno's Standard Bank usually take if you EFT at night like now around 10pm? I've only transferred from FNB before.
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Standard Bank - Standard Bank after hours may take up to 48 hours to clear, you might need to chat to your bank for confirmation though. I found this on Google.
 
Noock said:
I understand the drop to 2900, I think most traders have said that. But I can't see a reason for it to drop to 2k. What is the argument for that to happen?
Click to expand...

Me thinks things will only settle once Chinese exchanges have cleared their customers holdings. The sooner that can be done the better.
 
Lunomoney said:
Standard Bank - Standard Bank after hours may take up to 48 hours to clear, you might need to chat to your bank for confirmation though. I found this on Google.
Click to expand...

Usually it takes around 10hrs on FNB, but last night it took around 10mins. I wasn't expecting that.
 
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