General cryptocurrency market discussion

[Garpal Gumnut]

Please play safe, there will be slot of people who will be in a bad mental state once this settles. Also, post your day trades

Perhaps ASF should post the emergency phone numbers like they do in the SMH and ABC when there is bad news.

gg

 

[over9k]

Sorry guys, I didn't get any RIOT, I couldn't resist grabbing some NRGU on an 11% drop:



FWIW I would have had an order in for RIOT at 22.01 so it would have executed if I had any extra cash left to deploy.


On a related contagion note, it seems that this bust has made its way out into the semiconductor industry. Microchips have been absolutely slammed by a major shortage lately and it seems that this crypto bust has the market thinking that's going to mean less demand for chips to mine bitcoin et al and so SOXL is now on a major climbout on a belief that chip capacity might be able to be diverted to much more profitable chip manufacturing:



I mean we'll see from here but this is quite a welcome surprise so far.

 

[over9k]

For anyone wondering, it would have been a bit over $2600 (120 shares) at $22.01, so:

$22.01*120=$2641

$23.70*120=$2844

Fees of $20 per trade

2844-2641-40=$163

Would've been a nice scalp, so let's hope NRGU works out for me >_>

 

[moXJO]

If a couple of tweets from one man, can derail the decentralized currency of the future, then perhaps....................

The guy just bugs me. Be good to see him eat the wrath of blame after running his mouth.

Dude, crypto is solid. At least that's what all the tiktokkers say.

But it had more to do with China fears. Korea saw the start of the downturn back in 2017. But I'm sure that was linked to some tether scam.

 

[Dark1975]

Well it was a bloodbath, I think we have found a bottom..
i held Xrp through the morning 20% down atm.. Well i am holding long term.
Fear and panic was at a all time high..
Was massive volatility during the night.
If you get a chance to look at the chart polygon!! Interesting swings during volatility - 70 -*) % gains ( good for day trading)

 

[over9k]

Gee, I wonder why there was a rebound?



I just have NO idea.

 

[moXJO]

Rumours China is going to release info to drop market. Apparently going to sell into the news to drop it hard then start buying during panic

 

[basilio]

My biggest concern about the gyrations and crashes in the cryptocurrencies markets is the potential effect on the banking systems.

IMV at some stage the loans, losses and various derivatives taken with these plays will wash through the banks. I'd be certain they have an exposure as players, funders or holders. If there is a collapse in the crypto market I can't see how banks won't be taking some very big hits.

--------------
Excellent from BBC in post 912

 

[moXJO]

This thing can go down more. Everyone was in. Through a stroke of luck(and laziness) I am only holding matic and still up 3x for the moment. Heavy on some nfts but I'll have to check the market. They held up yesterday.

My biggest loss is losing 2-10000x bagger trades
It was the trading of a lifetime. Hope people will be sitting at the table after this.

 

[sptrawler]

My biggest concern about the gyrations and crashes in the cryptocurrencies markets is the potential effect on the banking systems.

IMV at some stage the loans, losses and various derivatives taken with these plays will wash through the banks. I'd be certain they have an exposure as players, funders or holders. If there is a collapse in the crypto market I can't see how banks won't be taking some very big hits.

--------------
Excellent from BBC in post 912

The good thing for the banks will be, the traders would have had to have put up solid collateral, to borrow money for speculative trading. So the old story of losing your shirt, may well be losing your house, at a fraction of its value?
There may be some exposure to second tier lenders, but again that will end up in tears for the punters also, it will be interesting to watch though Bas.
China seems to be the first Government to prick the coin bubble, probably because they want to launch their own digital currency, my guess is this may be the catalyst for the U.S to start moving, interesting times.
Just my thoughts, which on a lot of occasions are completely wrong. ?

 

[moXJO]

This guy was on point last week. (Thread)

 

[waterbottle]

This thing can go down more. Everyone was in. Through a stroke of luck(and laziness) I am only holding matic and still up 3x for the moment. Heavy on some nfts but I'll have to check the market. They held up yesterday.

My biggest loss is losing 2-10000x bagger trades
It was the trading of a lifetime. Hope people will be sitting at the table after this.

Chin up mate, opportunities come and go

 

[waterbottle]

Rumours China is going to release info to drop market. Apparently going to sell into the news to drop it hard then start buying during panic

Any evidence for this?

 

[moXJO]

Chin up mate, opportunities come and go

It's a pain in-between researching the next multibag. Crypto still has legs for the moment on some short trades

Oh the pain though WB. People literally throwing their money at digital nothing. I was rolling large the future was bright.

 

[moXJO]

Any evidence for this?

Sounds like a 4chan conspiracy. I'd say its just capitulation between yank and Asian markets trying to out do one another in how much the can sell for. It was a bad news week as far as crypto is concerned.

Rekt is the word for 2021.

 

[Joules MM1]

BTO at 30k btc/xbt

Chart Image

www.tradingview.com

ticked a lot of boxes for a low (AxC at 161.8%) and tipped the H&S shoulders 100% level
whales gulping

expanding on the buy at the low and the reasons the r/r is/are good at the low end of this zone

https://s3.tradingview.com/snapshots/g/gP2xkFX6.png

*edited, this is the correct update

all technical waffle free

 

[Dark1975]

Now for retail investors : the Prestige

Wont explain..its not elliots wave ..nor fab count ..

Do your masters in finance and they teach you Richard d/ Wyckoff

Take a look at chart below and be amazed ...lol ..lifting the curtain ..

Distribution schematics #1

I guess i thought i had two months left on bull run.. but the institutions played this card a bit early but u can see the set up..

And how magically all the news came together at once ...# Manipulation for retail investors..GG

P.S : Sow in phase should be placed at 55k btc was rushing..

 

[qldfrog]

Luckily, i avoided the crypos volatility and my gold miner ARV went down 40% today.
My sell yesterday was cancelled by the trading stop then missedvthe open..so 40% fall in the day i never ever had such a hit with cryptos.just saying.
Got 2/3 of money back to cba this early morning.if cryptos collapse, so will exchanges?

 

[waterbottle]

Luckily, i avoided the crypos volatility and my gold miner ARV went down 40% today.
My sell yesterday was cancelled by the trading stop then missedvthe open..so 40% fall in the day i never ever had such a hit with cryptos.just saying.
Got 2/3 of money back to cba this early morning.if cryptos collapse, so will exchanges?

As in the crypto exchanges? Possibly. Looks of uproar on Reddit about buyers having been locked out of their crypto brokers so if the fall continues then it may be the end for some if they continue to lock it their clients.
Unfortunately this story of behaviour always happens - it has happened with equities and has happened with FX in the past (I remember FXCM getting flogged when the Swiss implemented negative rates and traders couldnt adjust their positions).

 

[qldfrog]

As in the crypto exchanges? Possibly. Looks of uproar on Reddit about buyers having been locked out of their crypto brokers so if the fall continues then it may be the end for some if they continue to lock it their clients.
Unfortunately this story of behaviour always happens - it has happened with equities and has happened with FX in the past (I remember FXCM getting flogged when the Swiss implemented negative rates and traders couldnt adjust their positions).

Yes crypto exchanges: for me: btc market;
So far very good but if noone trade, the business model collapses, also their commission is a percentage of the crypto.
If they played the up trend and kept these as crypto not cash, non only is the commision drying up but there is a ridk that previous income vanish as well..i would bet it will happen for some exchanges