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Cryptos prices are still going down. When and what should I buy?

Discussion in 'CryptoCurrency' started by frzs90, Jul 3, 2017.

  1. frzs90

    frzs90 Registered Member

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    I missed the opportunity to invest in Bitcoin when it was under $500, and also missed the opportunity to invest in Ethereum. Now I see that BTC, ETH, and basically all cryptocurrencies are going down since 12-14th of June 2017, so I've deposited some money on Coinbase ready to invest in any of them. But the price is still dropping day by day, and looking at the charts, I'm not sure what to do, and I have a few questions:

    Can anyone guess or tell me when would be the best time to invest (when will the price go up again and what factors have to happen for this)?

    In December 2013, when BTC hit $1000, the bubble popped, and more than 3 years had to pass to reach $1000 again, and I'm afraid that the same is going on right now. Can someone prove me wrong?

    Also when the time comes, which one is a better choice: BTC / ETH / or something else?

    [​IMG]
     
  2. iPinner

    iPinner Supreme Member Premium Member

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    If you have 0 clue about crypto & asking for such questions on public forums - don't buy. My best suggestion.
     
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  3. natmicon

    natmicon Registered Member

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    The hard fork is coming for bitcoin. I would not sink money into it right now in terms of investment unless you have a lot of experience. The market is antsy because bitcoin could very well crash completely and take everything else with it. The bubble, at the very least, is about to pop as all these newbies who have no idea about crypto and are investing in it like it's the new gold is about to get a rude awakening
     
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  4. frzs90

    frzs90 Registered Member

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    You might be right, but everyone has to start somewhere.
    And I'm not talking about large amounts of money, just what I can afford to lose.

    Thanks for the answer, I'll wait for the hard fork and will see where cryptos are going (and hope Coinbase won't crash until then with my not used, deposited money :D )
     
  5. umerjutt00

    umerjutt00 Jr. VIP Jr. VIP

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    They are about to make some updates to bitcoin. Something called "hard fork" I think. If you are like me and don't know much about the crypto world, then better wait for that update as its about to happen really soon. If things don't go well, we might see the crypto prices crash.
     
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  6. DJPaulyD

    DJPaulyD Power Member

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    LiteCoin.. Buy it now before it goes up to $100 a coin and you regret it later
     
  7. mrsray

    mrsray Newbie

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    i've become more addicted to "pos" coins (point of stake) where you kinda earn interest for holding certain coins ... research pos coins so when the fork is over, you can start a pos portfolio :)
     
  8. frzs90

    frzs90 Registered Member

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    Thanks for the suggestion, I will think about this too, until 1st of August, when the Bitcoin changes will happen. BTW I think you wanted to say "proof of stake" instead of "point of stake" (at least that's what Google shows me :) )
     
  9. mrsray

    mrsray Newbie

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    oh sorry, yes 'proof of stake' ...my bad, thank you.
     
  10. irishengteacher

    irishengteacher Jr. VIP Jr. VIP

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    I can't help thinking of the story of Joe Kennedy [father of John, Robert, Ted Kennedy] that when the shoe-shine boy gave him a stock tip it was time to get out.

    https://en.wikipedia.org/wiki/Joseph_P._Kennedy_Sr.

    Seems like a lot of that going on crypto, people not really having a clue speculating. OP, I haven't got a clue about it either.

    In gambling, you should only bet what you can afford to lose, and crypto sure seems like gambling to me.

    But good luck OP. There is another saying "the market can remain irrational longer than you or I can remain solvent", so who knows when the madness will end.

    http://quoteinvestigator.com/2011/08/09/remain-solvent/
     
  11. WindFisher

    WindFisher Newbie

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    Yes you can buy in now, and should, but be prepared to hold (or HODL - hold on for dear life, as the joke goes) through ups and downs. I would recommend to get a mix of Bitcoin, Ethereum and Litecoin at your exchange there, but much more of BTC or ETH.

    Then, easily get account at other exchanges like Kraken or Bittrex (and send over that extra portion of BTC from above to be able to trade with) where you can get a variety of coins, and diversify broadly. Look at things like Ripple, Monero, Dash, Zcash, Siacoin, Iota, Antshares/NEO and so on so then you're more 'diversified', and you're owning something if any of the newer ones with lots of potential pop.

    And then hold everything for very long periods of time. You'll be better off being in now than later, all else being the same. Only gamble here what you can surely afford to lose.
     
  12. Elena_Rodriguez

    Elena_Rodriguez Newbie

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    Now Ethereum would be the leading currency after Bitcoin.
    Analyst Sheba Jafari says: Bitcoin price hits record high and $4000 is ahead
     
  13. imoneyboy1

    imoneyboy1 Regular Member

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    Litecoin, before you miss it again
     
  14. disposableher0

    disposableher0 Newbie

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    ^ This ^

    There are good rumors about LTC with news announcements due August 1st, I would expect the price to jump significantly after this. Buy the rumor, sell the news!
     
  15. michaeladewale2010

    michaeladewale2010 Junior Member

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    lot of people here talking about things they do not know or understand. when BTC went down to 500 from 1200 these same people said its crashed and the bTC craze is over only for it to rally and double its previous high. this is normal in financial markets...they all behave the same way whether stocks, bonds, etf, forex or crypto. the key to success in trading is knowledge. knowledge of the charts is the best kind of knowledge u can get. learn how to read charts and u will care nothing about anyone's opinions. the charts tell u all u need to know. the crypto currencies are just goin thru a correction phase now which basically means a extended price drop after an extensive price increase....it happens to every stock or financial item traded. it is the time that weak traders chicken out only to see the market shoot up sharply later....this, in my opinion, is not a time for panic. there is no indication that i see on the charts that sugests a cruptocurrency crash... thats just BBW and other ppls opinions. the markets do not care about anyones opinion. it does what it does and right now i would advise u try to learn as much as u can about reading charts. start with understanding clearly what support and resistance is. trading with this alone along with good money management can get u consistent profits. all the best.
     
  16. natmicon

    natmicon Registered Member

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    This has nothing to do with charts and you have no idea what you are talking about.
     
  17. mrsray

    mrsray Newbie

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    i would say knowledge of the coins/tokens is more important than the charts when it comes to crypto. There are LOTS of shitcoins out there, knowing what you are putting your money into will help you succeed more in the longrun IMHO ... for example, there is a coin on yobit that is on an 'old chain' and worthless. lots of 'traders' still sell this one back and forth, because they have no idea it is worthless and 'just trade'. someone gets stuck with it eventually, do you want it to be you that bought 1 or more btc worth? KNOW WHAT YOU ARE GETTING. Are the devs working on the project of the coin? what is the purpose of the coin? knowledge

    crypto and stock trading are different ... there are no regulations in crypto trading
     
  18. CyberHour

    CyberHour Jr. VIP Jr. VIP

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    BTC will drop >1500$ and will raise to >3k again during the end of the year.
    ETH? Nah prefer #doggycoin
     
  19. demienles

    demienles Jr. VIP Jr. VIP Premium Member

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    You can buy into ICOs that are run by reputable people. I've done this several times and have seen great returns.
     
  20. michaeladewale2010

    michaeladewale2010 Junior Member

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    every financial instrument traded in the open market has everything to do with charts. if they didnt then the exchanges would not bother showing charts to public. if u do not know how to read charts then don't sound ignorant here.

    @op dont waste your time listening to this. do your own homework. anyone that wants to make money trading knows well not to trust any opinions. before any major move, charts show you that it is going to happen. the news and other ppls opinions are usually late to the party or just speculation.

    regulations do not alter human behavior. human beings are the same everywhere. there are rallies in stocks so are they in cryptos. there is support/resistance in stocks, the same exist with cryptos. volume at key areas are significant with stocks. same with crypto and any other financial instrument. by looking at a chart and understanding what is going on there, u can avoid the pitfalls and i argue that u can do this with more accuracy than any third party opinion. a crappy coin will be reflected in the charts and anyone trading a crappy coin doesnt lose money becos of the charts. they lose money they do not understand the message that the chart is communicating.

    trust me i have lost thousands trading fundamentally before i came to my senses. i have read over 200 books on financial trading. 190 of them a trash. a lot of guys here sound like those guys who write books on trading but never spent a penny in the markets. today i can speak confidently about this because i am making consistent income in the markets just by trading on technical analysis (chartreading) just the charts - candle sticks, bar charts, etc. charts work for everything in the market. it is human behavior at its finest. even the oranges in walmart work on charts:)

    dont believe me? go find out how those high frequency computers on wall street trade.