Crypto currency drop

Discussion in 'Anything Goes' started by Bernie, Nov 20, 2018.

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    Bernie

    Bernie Affiliate Guard Dog Member

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    Hi everyone. Just wondering what the buzz was in the gambling affiliate world these days on cryptocurrencies - especially in light of whats going on right now. Is there a thread on this someone could point me too? I thought there was a section here on crypto currency. cheers, B
     
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    KasinoKing

    KasinoKing Player turned affiliate.

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    Please don't mention Crypto-Currencies again.. or I may throw up! :mad:

    HeadDesk.gif

    KK
     
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    TheGooner

    TheGooner Affiliate Guard Dog Member

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    I quite like this guy on YouTube. He speaks common sense.
     
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    RazorGamer

    RazorGamer AGD Member Ltd

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    Just horrible! I was going to withdraw my funds from my Blockchain account, but I'll just have to wait it out now :(
     
  5.  
    KasinoKing

    KasinoKing Player turned affiliate.

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    I hope you like gambling - cos leaving them in there is a BIG risk IMO.
    They've gone down 33% in the last few days - who knows how much lower they will go and if they will EVER recover..? :mad:

    KK
     
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    DaftDog

    DaftDog Affiliate Guard Dog Member

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    I haven't bet my house on Bitcoin but I'm willing to hang in with what I own regardless of the current price drop.
     
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    TheGooner

    TheGooner Affiliate Guard Dog Member

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    Did you know that this current drop in BTC value (around 65-70%) is not as big as the last drop in 2012-2014 which was at 80%?

    I don't know the future - but if I had to draw a boom-bust-boom-bust wave/cycle ...
    Then I'm pretty sure we are close to the bust end right now. (*)

    * = This is NOT financial advice.
     
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    baldidiot

    baldidiot Affiliate Guard Dog Member

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    It's actually closer to 80% from ATH - from $20,078 down to $4588 is a 77% drop.

    So yeah if we're seeing 80% drops and then booms it could be near the bottom.

    Or if could be a we're in the middle of a series of bleeds to zero.
     
  9.  
    AussieDave

    AussieDave 18 years & still going!

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    Your comments about crypto make me laugh...why?

    Over at the GPWA your always thanking your side kick for knocking BTC and crypto in general. Even you post deluded cr#p about it. Yet here you are claiming to be a coiner. Too funny :D
     
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    Engineer

    Engineer Super Moderator

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    Last November, I wrote:


    We're almost there, but I think we still have a ways to go before we hit the real bottom, which I think is $3,000.

    In June, July, and the first week of August 2017, $3,000 acted as resistance. And then during the correction of September 2017, the same price of $3,000 acted as support.

    I think the price has to go all the way down to $3,000 to see if there is still support at that level. If $3,000 holds, only then can the bear market come to an end.

    (This is all my own opinion, not financial advice.) :cool:
     
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    TheGooner

    TheGooner Affiliate Guard Dog Member

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    That ATH of $20K is pretty mythical - probably a Korean exchange - never saw it (I did see $18K).
    And I was looking quite hard as that was my nominal target.

    I liquidated 50% at $14 to $16 in Dec/Feb and have drip sold another 25% on the way down to today.
    I'm pretty sure I'm HODLing the last 25%

    (probably - although it's hard to hold when you see freefall :confused: ).
     
  12.  
    KasinoKing

    KasinoKing Player turned affiliate.

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    As I only have less than 0.5BTC at the moment - I think I can risk holding for a while and hope it sky-rockets again like it did last December... No harm in dreaming! :rolleyes:

    KK
     
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    casinonewbie

    casinonewbie Affiliate Guard Dog Member

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    Tips to making serious money from bitcoin :D

     
    Last edited: Nov 23, 2018
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    slotplayer

    slotplayer Affiliate Guard Dog Member

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    It was fear of missing out (fomo) that drove it up last year. I suppose it could happen again in 2019.
     
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    the_dave

    the_dave Affiliate Guard Dog Member

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    That's a pretty good, level headed, viewpoint on the situation. I have so little of my net worth in Crypto that I can easily afford to adopt a long term strategy (that and the fact I was lucky enough to get in very low).

    Fomo is a big problem with investing on the whole and it's why I'll only ever adopt a long term outlook on all the investments I make. Unless you're highly skilled and experienced then moving in and out of any kind of markets over the short term is pretty much gambling.

    Plenty of Crypto haters have come out the woodwork in the last 12 months but plenty of fanboys came out of nowhere in the boom period before that. If you're a fanboy or a hater then you're doing it wrong. When investing you need a level head, to understand the risks associated with the investment you're making, to understand the potential volatility of the investment and be able to execute your strategy.

    Fomo buying and panic selling are two places you never want to be as you're acting on emotion in both cases. Calculated strategic risks can both eventually win and lose. The key is to be diversified across the board and win more than you lose. People on both sides are way to invested in Crypto emotionally for their own good.
     
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    LandofOz

    LandofOz Affiliate Guard Dog Member

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    Baakt will come online on January 24th and it's only a matter of time before ETF gets the green light. Mass adoption takes time and this is just a big hiccup in the process. I'm sure that crypto will skyrocket next year.
     
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    Mat

    Mat New Member

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    I think its long term and we can see some great momentum coming years.
     
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    RyanWeb

    RyanWeb Affiliate Guard Dog Member

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    I agree, don't focus so much on the current price of crypto, but the actual projects in the works. While the market is down, there are major players getting involved in the tech. Price may be down, but innovation is way up.
     
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    baldidiot

    baldidiot Affiliate Guard Dog Member

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    I was thinking about this the other day. If the market bottoms and then has some fast moving upward movement we could see everyone who recently sold up fomo'ing back in at the same time.
     
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    the_dave

    the_dave Affiliate Guard Dog Member

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    Could definitely happen with Bitcoin and I'm expecting a rebound at some point in 2019. Can't see the dizzy heights of 2018 being reached but the tech speaks for itself and can't be ignored.
     

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