The Bitcoin Thread

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DA BOUNCE!

Yes! I was sweating there for a second with a quick $8600 buy. :D
 
If you look at all crypto currency at the moment, you will realise how tethered they are to bitcoin. It dropped below $9000 then jumped up.again quite a bit. Most cryptos did exactly the same thing

The normal currency is not following the same trends
 
Hamish McPanji said:
If you look at all crypto currency at the moment, you will realise how tethered they are to bitcoin. It dropped below $9000 then jumped up.again quite a bit. Most cryptos did exactly the same thing

The normal currency is not following the same trends
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The amount if idiots "hedging" bitcoin with other coins is insane. They are ridiculously correlated to bitcoin, especially when it makes big movements like these. It's a sea of red on my dashboard today.
 
Zulfi said:
yeah, "Bad Trader" is my middle name.. guess im hodl'n - anyone else care to share their opinions on the matter?
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Look how quickly BTC bounced, maybe it'll go down from here or up. No one knows for sure. In my experience, trading in crypto is dangerous. But sometimes you get lucky and end up accumulating more BTCs by trading. :)
 
Hamish McPanji said:
If you look at all crypto currency at the moment, you will realise how tethered they are to bitcoin. It dropped below $9000 then jumped up.again quite a bit. Most cryptos did exactly the same thing

The normal currency is not following the same trends
Click to expand...
I think it's because most of those coins are priced in BTC? And not in dollars? Meaning when an alt is bought, it's bought in BTC, mostly, and not in fiat.
 
Sly21C said:
I think it's because most of those coins are priced in BTC? And not in dollars? Meaning when an alt is bought, it's bought in BTC, mostly, and not in fiat.
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Yes, but does it go the other way? Did the BTC rose with xrp or eth in the same way?
 
Sly21C said:
I think it's because most of those coins are priced in BTC? And not in dollars? Meaning when an alt is bought, it's bought in BTC, mostly, and not in fiat.
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That's why you would expect them to be inversely correlated with each other, but charting them even against USD reveals this is not the case.
 
The_Mowgs said:
Are you serious or just taking the piss? You do realise not everyone is a financial f ucktard and some people will take your posts as gospel and buy more.

And before you say it would be their own fault, which is true, not everyone has the knowledge to know that they should research these types of things before plowing money into it. There are a lot of people around the world that are now very new to finance and cryptos. They became very excited with BTC not knowing the risks or what it's really about.

If a thread pops up with someone claiming to suffer from depression and suicidal thoughts would you tell them to go and watch a depressing movie?

Instead of posting snarky remarks rather give real valuable advice or your honest opinion regarding the matter.
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Actually I agree with the sentiment - buy more - IF you can afford it. No need for a long-winded lecture LOL.
 
Knyro said:
That's why you would expect them to be inversely correlated with each other, but charting them even against USD reveals this is not the case.
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Not really, their price in terms of bitcoin hasn't been changing much, it's just that the actual Bitcoin is worth much less leading to the sea of red when looking at their dollar prices
 
balrog said:
Wait for a confirmed bottom and renewed Bull trend before buying, would be my advice....
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Sounds good in theory, but on a previous drop not too long ago, it jumped up 10's of thousands in seconds;
so if you don't have alerts or confirmed buy points, or are away, you'll most likely miss out...

Traders are waiting to pounce lol.
 
L10Yn said:
Not really, their price in terms of bitcoin hasn't been changing much, it's just that the actual Bitcoin is worth much less leading to the sea of red when looking at their dollar prices
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That sea of red is their BTC price.
 
L10Yn said:
Not really, their price in terms of bitcoin hasn't been changing much, it's just that the actual Bitcoin is worth much less leading to the sea of red when looking at their dollar prices
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You answered him better than I would have :)
 
I presume Alt-coin is down in BTC terms as panic sellers need to convert alt-crypto to BTC before they panic sell BTC to fiat.
Eth is green in BTC terms as it's a "faster" to process between wallets so slightly higher demand.
 
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