I guess an old hodler cashed out for xmas(followed by panic), $ all still where they were, nothing happening there...
bought back in at 250
, didn't think it'd keep going to 235-
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I guess an old hodler cashed out for xmas(followed by panic), $ all still where they were, nothing happening there...
bought back in at 250
, didn't think it'd keep going to 235John Tempus
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I guess an old hodler cashed out for xmas(followed by panic), $ all still where they were, nothing happening there...
bought back in at 250
The ZAR/USD exchange rate improved from over R14/$ to R12.60/$ range in just the last couple of days thus coupled with the BTC/USD price dropping at the same time earlier today from $19500 down to $18200 it directly caused a double price adjustment on luno ZAR market since the market corrected on luno ZAR both for the Rand/$ strengthening and the BTC/USD sizable price drop.
Which brings me to the point of just how crazy it is to trade on any ZAR denominated exchange since you would more than likely be monitoring international USD market price but then have to adjust for both ZAR/USD and BTC/USD price adjustments when trading on Luno ZAR exchange.
SaiyanZ
Executive Member
We way overpriced now. I see another massive selloff to below R290k/R280k coming soon once the arbitragers wake up. I didn't expect us to make it past R295k overnight, yet we're at R306k now.
SaiyanZ
Executive Member
Yep the higher it goes, the harder it's going to fall and then bounce around. It will go below R280k before bouncing around the R295k mark I think.
Tabac
Honorary Master
Why shouldn't we see 310 K ?
SaiyanZ
Executive Member
The rand is around 2% stronger than it was yesterday morning. So unless the USD price gets close to $20k again, I doubt it will hit R310k on Luno. Looks like the selloff is starting.
Vox Populi Vox Dei
High Tory
But USD/ZAR rate likely to weaken today...I can see it going back to over R13 at the very least.
Tabac
Honorary Master
$19087.9000..... So took my little profit, wait for R290K or less ....
SaiyanZ
Executive Member
The arbitragers are probably happy to let others buy and push the price up. I think that once the selling starts and it drops by a few thousand, everyone will rush to sell at the same time and it will drop fast like yesterday evening.
Kloofvreter
Honorary Master
So I went to bed when it was at R280k, back at R300k when I woke up, like nothing's happened :crylaugh: 
Unlucky chap.... Doesn't have anything! Lesson learnt I guess.
Toxxyc
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So I went to bed when it was at R280k, back at R300k when I woke up, like nothing's happened :crylaugh:
This. Before I went to bed I saw "hmm, value down significantly" and then I though "just see what happens", check this morning and it's back to the high from yesterday.
Tabac
Honorary Master
USD Btc pulling back... ETH up.
Dan C
Honorary Master
ETH looking good
IdleLayabout
Active Member
Oh my hat, I set up buy orders all the way down to 220k last night on a hunch. My cell phone nearly jumped out of my hands with all the buy notifications when I turned it on this morning. So that was a price movement of R70k in the space of a few hours! Hands up those who recall when the overall price was R70k and we thought a R7K drop was a lot. Now, do I sell and pay off the car service or wait until Jan???
IdleLayabout
Active Member
Ja, I know, holding for next year. Actually my 5 month old nearly made the decision for me while sitting on my lap and flailing at my phone with both hands ;-)
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