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Dan
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25th Feb 19 at 20:09   View Garage View User's Profile U2U Member Reply With Quote

Every hour is interesting with bitcoin

Im alive and kicking. i check in fairly regular, just dont log in that often. I miss these days and cant bear to not keep an eye

Reddcoin is dead now, i dont have anything to do with that. But im on 2 big potential projects - Vulcano and eXPerience Chain (XPC).

Worth a look


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SetH
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5th Apr 19 at 09:55   View User's Profile U2U Member Reply With Quote

so BTC headed up to circa $5500 before correcting down to $4900. The internet started to pre cum. I am still out with no position at the moment. Have a friend with 7 BTC, I fear I will be sitting by watching him become rich soon
SetH
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3rd May 19 at 12:51   View User's Profile U2U Member Reply With Quote

Couple of big moves to the upside recently. It's also up 40% on the year and not to far from testing the $6000 resistance.

I think we will see some corrections/pullbacks but the recovery and sentiment is clearly gaining notable momentum now.

I have been cost averaging back in. Might be a while before I decide what colour lambo though
Ian
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3rd May 19 at 16:44   View Garage View User's Profile U2U Member Reply With Quote

And its only real when you spend it
SetH
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4th May 19 at 06:03   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ian
And its only real when you spend it


BTC is still a long way from mass adoption but I truly believe that FIAT currency will eventually be replaced. Perhaps towards the end of my life time, not sure.

Right now people are using BTC as an investment and store of value. Many traders making a living from leveraging the big swings in volatility that you generally don't see in traditional stocks. Although the cryptomarket is starting to mature and we are not seeing as many volatile swings.

I noticed BTC tested the $5800 resistance during the night and was rejected again. if it tests it again I think it will break it and move into the £6000 range. From there we could see the beginnings of a new bull market. $20,000 peak last time in Dec 17, I would not be overly surprised if the next run takes BTC to $100,000.

Some speculation that BTC is massively overbought and that there could be a huge correction. Figures of $2500 and £$1200 being thrown around. I am half expecting a correction but I don't think much below high 4000's.

The next few days are key.
Ian
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4th May 19 at 13:24   View Garage View User's Profile U2U Member Reply With Quote

Is it still rare enough to get to $100k? Last time a lot of people didn't really know they owned it.
SetH
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4th May 19 at 14:58   View User's Profile U2U Member Reply With Quote

$100k is thought to be a conservative estimate for the next bull run.

There has been a lot of FUD news recently, check the story on tether which was meant to be backed 1:1 by the USD and turns out it was not. I bit like real banking I guess

Literally an hour ago there was a snap sell off for BTC but its bounced off the $5500 line which is a very bullish sign.

Lots of talk on twitter today about how we will see that big correction soon. There is a bit of a bank run against one of the big exchanges right now after the Tether FUD story.

In all honesty it is difficult to follow all the news and so much unpredictability. I certainly don't have the time to keep tabs on it all or day trade. The short term outlook is very uncertain. the long term outlook is bullish as the fundamentals are getting stronger.

My intention is to continue to play a long position. I have a friend who is now in for 9 BTC, he stands to make a hell of a lot should the next bull run come to fruition. I know he has tiered stop losses so he wont be completely REKT if it does indeed crash.

Remember all the people saying they wish they bought in when BTC was $100? then same again at $1000, my expectation is that in 12-18 months people will be saying they wish they bought in at $5000.

I saw this on twitter not so long ago : What is the difference between a 3k bitcoin and a 6k bitcoin?

Answer : 'what colour lambo'

As with anything its managing your risk and not investing more then you can afford to lose.
SetH
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13th May 19 at 18:10   View User's Profile U2U Member Reply With Quote

81% rise from the 1st April to time of posting this. Kerching!
Dan
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6th Jul 19 at 17:51   View Garage View User's Profile U2U Member Reply With Quote

Ive got the next big potential opportunity for anyone interested.....




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Ian
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6th Jul 19 at 22:39   View Garage View User's Profile U2U Member Reply With Quote

I'm going to do it one day. Until then, bump in 6 months when you've got the 500% ROI
SetH
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6th Jul 19 at 23:03   View User's Profile U2U Member Reply With Quote

not been updating this but we saw a high of 13.4k followed by a recent correction but it bounced of very strong support at 9.8k and its back in the 11's.

It will either break up and possibly surpass the previous high (including the 20k bullrun of 2017) or it may break down and test support in the 8k range.

Either way absolutely no one can make a case agaisnt not buying it when it was sub 4k at the start of this year. Even if you cashed out last week HUGE profits.
Ian
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6th Jul 19 at 23:49   View Garage View User's Profile U2U Member Reply With Quote

I could make the case against buying it at any time - its volatile as fuck
SetH
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7th Jul 19 at 09:31   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ian
I could make the case against buying it at any time - its volatile as fuck


Yes, so think of the trading opportunities with the big swings in price. Huge risk but huge reward. I don't care if BTC goes up or down, I will either open a long position or a short position accordingly. It is that volatility and gains/losses of + or - 20% that presents the opportunity to make huge gains, it also presents the opportunity to also lose thousands so employ appropriate risk management.

Even if you did not trade and bought just 1 BTC for $3200 back in February, you would have made a profit of $10,000 a couple of weeks ago for literally 5 minutes of your time and 6 months patience. The people that are day trading this are cleaning up or getting absolutely REKT.

Then there is the ALT coins. Historically some of these see x100 gains and they usually follow closely behind BTC. If BTC spends weeks/months going sideways or has a huge retracement there is a strong possibility of a surge in the ALT coins. When BTC has parabolic gains the value of ALT coins usually bleeds as people add more BTC to their portfolio (which is happening right now). Again ROE of x100 easily to be made. Show me another asset class that will give you that?

Or you could trade the 'safer' traditional stock markets and enjoy your 1-2% ROE

I only trade occasionally due to the fact most of my money and time has been invested in a career change (a very expensive one), otherwise I would consider this full time, probably living again in Thailand as you can do it anywhere.

A lot of people are put of by the volatility though, retail buying is not the same as it was during the last bull run. Most of the money coming in this time is institutional which in itself is pretty big news.

The greatest risk I see is that BTC has a tiny market cap compared to something like the Dow. Therefore one massive whale can influence the price with a huge buy or sell order, it is difficult to manage risk against this as it happens out of the blue.
Ian
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7th Jul 19 at 13:33   View Garage View User's Profile U2U Member Reply With Quote

I get all of that but its enough to put me off. I spent loads of time on Plus500, admittedly simulation mode but the currency stuff was (probably still is) interesting all through the Brexit vote build up and aftermath you could buy or sell GBP/EUR and the volatility was great, returns as you say two and three figure percentages.

BAE where Ste works was always a good one as well as they seemed to switch between announcing profit warnings and sacking people to getting new contracts and being a few billion up every couple of weeks. Probably not a nice thing to be experiencing as an employee but very interesting from a stock point of view as even the bad news could be profitable if you took the correct position.

I read a lot about it - how the only decent money is in unstable markets - but I'd feel bad both ways around, if I lost a grand I'd be gutted but if I turned my grand in to five I'd also be gutted because with different timing I could have got ten.

I think you need to be of the right mind. Patience is a good point although I've also taken hits on the Plus500 and having closes called because the stuff dropped so much you weren't allowed to keep it open.
SetH
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7th Jul 19 at 15:18   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ian
I get all of that but its enough to put me off. I spent loads of time on Plus500, admittedly simulation mode but the currency stuff was (probably still is) interesting all through the Brexit vote build up and aftermath you could buy or sell GBP/EUR and the volatility was great, returns as you say two and three figure percentages.

I read a lot about it - how the only decent money is in unstable markets - but I'd feel bad both ways around, if I lost a grand I'd be gutted but if I turned my grand in to five I'd also be gutted because with different timing I could have got ten.


Agree, I bought a few grands worth of shares the day after the referendum vote and later sold on for ok profits. Have not dipped back into traditional stocks since as don't know enough about them or have any contacts for buy/sell signals like I do in Crypto. The federal reserve can only keep printing money and artificially propping the market up for so long though. It's been a great run since the last financial crisis (although I expect some people were shaken out in the dip during december which was suspicious as fuck) but it can't go on forever. By that logic as the market has been in a long term uptrend it should not be overly difficult to make winning trades. Have you seen Tesla shares recently?

There will always be losing trades in crypto for sure. I always use a tight stop loss, sometimes I get stopped out early which is frustrating but for the most part a tight SL has saved my arse when things have gone south. It does not really matter if you have many losing trades as long as they are small losses, risk managed by your stop losses. By trading the volatile outbreaks on BTC a few times a year big gains can be made that will make the several small loses mostly inconsequential. It is key not to over trade, especially if you are on a winning streak, it can quickly go south. Getting constantly stopped out as well can take it's toll on your profits. Some people trade without a SL due to the fact you could have a small dip that gently kisses your stop loss (activating it in the process), followed by a huge rise in the direction the trade was originally meant to go. Thereby not only have you not made any profit but you incurred a loss but deploying that very same risk management. If you are too risk adverse in Crypto I think the net result will = lose.

I accept that crypto trading is probably closer to gambling in its current state but like i said with huge risk comes huge reward and never trade more then you can afford to lose. If BTC or any other crypto's reach mainstream adoption and become regulated then this volatility will disappear along with the risk/reward ratio.

For people new to Crypto I cannot see the appeal of a whole BTC setting them back 11k right now. It was certainly worth a punt below 6k. I persuaded my mum to buy one at 5k 8 months ago, she has more then doubled her money just by sitting on it which decimates the performance of any of her savings, stocks and ISA's.

I don't think the creator of BTC satoshi had BTC as a volatile trading asset on his white paper though
Ian
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7th Jul 19 at 19:40   View Garage View User's Profile U2U Member Reply With Quote

I could usually manufacture a big rise by having a stop loss that took me out of the game shortly before it happened
Dan
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8th Jul 19 at 08:51   View Garage View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ian
I'm going to do it one day. Until then, bump in 6 months when you've got the 500% ROI


Last one was 80,000%

Vulcano.io is the project to jump on right now.

Its got MASSIVE potential... i'm balls deep in it.

Its also extremely low priced at the min, so risk is very low and reward potential very very high.

Im on the team and very good friends with the project director. So I know the potential, but I cant talk about the on going work on it as I have had to sign NDA's.

Laugh at me like last time or get involved Up to you


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Ian
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9th Jul 19 at 18:48   View Garage View User's Profile U2U Member Reply With Quote

I've never laughed at you, only at the fact you'll deffo be back with the gains and I'll not have got on it.

What's involved in this new one? Is it worth me Paypalling you some real money so you can swap it for whatever witchcraft is going to make me rich or do I need to give the underworld my own data?
SetH
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10th Jul 19 at 17:34   View User's Profile U2U Member Reply With Quote

$1000 dump on BTC today

Was at the gym or would have shorted it, beyond crazy.
Dan
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12th Jul 19 at 12:32   View Garage View User's Profile U2U Member Reply With Quote

Ian,

Ive actually written a full guide this week for Barnshaw and his cronies... Everything from buying btc to setting up a wallet and staking... I can send you it via FB


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SetH
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12th Jul 19 at 15:11   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Dan
Ian,

Ive actually written a full guide this week for Barnshaw and his cronies... Everything from buying btc to setting up a wallet and staking... I can send you it via FB


I am surprised the general public are interested in BTC right now. We have not seen the retail buying like we did on the last bull run, nor are we seeing the excitement and FOMO that we did last time. Most of the money coming in is institutional, also big whales are manipulating the market at a whim. I have gone from recommending it to people a couple of months back to advising them to be well aware of the considerable risk based on the utter manipulation we have seen the last couple of weeks. I have had a break from training so spent considerable time online watching the market, i've seen most of the aforementioned things happening in real time and it weaves an ugly tale.

I think we made a double top and am expecting more movement to the downside, I would put the bottom at 8.2k. Perhaps we could see a more organic and healthier bull run towards Q4. It is no surprise that such a crazy run up has resulted in an almost as quick dump . I was surprised that we did not test 20k though.

Trump tweeted his disapproval of BTC today, depending on how you read it that is great or bad news. The resistance that Facebooks coin Libra is getting as well, good of bad for crypto I am not sure. Although technically Libra is not Crypto as it would be backed by FIAT.

Real uncertain times. Those that bought in during the winter when it was sub 6k and held onto it are in a good position. If I were new to Crypto would I go in and buy 1 BTC for 11k? probably not.

Impossible to predict the future but I have two scenarios in mind.

1) we continue dumping and retest lows, probably finding support at 8.2k. We have a bull run in Q4, break 20k and get a huge FOMO then new all time highs.

2) We have a lot of sideways action for months. Regulators decide enough is enough and step in and it's curtains for BTC in one way or another. Plus side to this is we may see an ALT coin season, will present some great trading opportunities as these coins have been bleeding for a while.

I would love to see Crypto succeed. Question is will the worlds richest and elite allow it to happen? that's a lot of people at the top of the food chain that stand to lose a fuck load of cash if FIAT is replaced by a decentralised crypto currency. Mass adoption really would be a game changer for the whole world. Events of considerable magnitude would probably be needed for it to be realised (global financial collapse, unprecedented inflation of the USD etc. Very hard to visualise right now.
SetH
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12th Jul 19 at 15:13   View User's Profile U2U Member Reply With Quote

Just as I posted that BTC has failed to break resistance at 11.8k and is dumping again. Could see 10.8k this weekend imho.
Dan
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13th Jul 19 at 07:13   View Garage View User's Profile U2U Member Reply With Quote

Seth. Not sure where you make these assumptions from.

The amount of new wallets with more than £1 in is at an all time high.

The amount of bitcoin google searches also at an all time high...

Also. The first rule of crypto.... TA doesn’t work &#128539;


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SetH
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13th Jul 19 at 14:48   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Dan
Seth. Not sure where you make these assumptions from.

The amount of new wallets with more than £1 in is at an all time high.

The amount of bitcoin google searches also at an all time high...

Also. The first rule of crypto.... TA doesn’t work &#128539;


You are correct that TA does not work in Crypto. HOWEVER... look back over it's history and more often then not BTC respects the support and resistance lines as well as the fib retracements. You don't have to look too hard at all to see consistent examples of both, 5 minutes on a chart on trading view, draw a fib retracement from this years ATH and see how well it lines up. In fact its uncanny how well its respects the fib retracements despite the manipulation and huge whale moves. Any other TA that applies to forex does not seem to work when applied to crypto.

I am not making assumptions about the buying volume from retail being small in comparison and the majority of volume being institutional from OTC buying. It is well documented and known as the data is freely available, again 5 minutes search you will see.

I am aware of the google searches, 'buy bitcoin' is also at an all time high. However still not seeing the buying volume from retail, I expect we will see it when people FOMO over 16k (if we get there).

I read the white paper on Vulcano by the way, nothing stands out as remarkable but I stand to be correct if you have insider knowledge. I still see ALT coins as shit coins now and lost interest in them sometime ago and sold the lot back in Jan. Still no sign of ALT season. If BTC goes sideways for a while and we see the signs of ALT season I will probably trade them.

Do you trade at all or are you accumulate and Hodl with a sprinkling of hopium and moon boi?
SetH
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13th Jul 19 at 14:54   View User's Profile U2U Member Reply With Quote

Was going to add that I am hearing from others that their bank's have started blocking them from purchasing crypto. I also had issues with one of my card providers.

It's impossible (within reason) to ban BTC but it's not impossible for banks/governments to ban trading/purchasing of crypto assets. Warning signs are there, I really hope it does not happen but I would not be surprised at a crack down. That's where my 'curtains for BTC' statement comes from.

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