Cryptocurrency

Status
Not open for further replies.

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
For all the crypto guys interested in learning a bit more. The current market cap of all the crypto currencies/digital currencies in the world is roughly $25bn. $25bn compared to the market cap of gold, $7 trillion just to put how small the market is currently into perspective.

China, Japan, Russia, USA, and a few other smaller no name countries are all working on making bitcoin a legitimate currency. Banks are now trying to develop some type of blockchain payment system but it's way behind the game.

With the way that global currencies are heading, economies are heading, peak prices in the stock market and real estate, people will be looking to diversify their assets and wealth. Crypto currency market cap is miniscule. The British Pound has devalued by 30% in just a handful of years, same with the euro 30%. People will not want to be in those currencies in the next couple of years. Right now people think the dollar is the safe alternative, but everyone reading this post already knows the state of our economy. We're not that much better but people would rather hold sh1t that stinks less and that's what the dollar is currently considered (the cleanest dirty shirt in the hamper). The European, American, Japanese, Chinese, South American economies are declining fast. Most of South America is already in a well known recession if not depression. Real estate is at peak prices, stock market is at peak prices, wealthy investors know this and are trying to find ways to get their money into other assets.

While the poor remain poor, the rich are buying what they can to preserve their wealth. Especially the chinese. Crypto currency will just be another asset that will be purchased to preserve wealth. As you can all see, the market cap is miniscule so even if 0.1% of a billionaire's wealth is put into crypto, and crypto's start to become something every speculates in, the market cap could easily quadruple or at minimum double in a short amount of time. 1 to 2 years.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
i made $700 in profit off litecoin in one week. I was hoping with litecoin activating segwit, litecoin would get a big jump in price but it pretty much leveled off around 32-33. I averaged in litecoin at 23 and sold at 32, 33, and 36. The bulk of my sale was at 33. I bought back in ethereum averaging at 77. Ethereum topped out around 99 and is now hovering around 87. I converted all my money from litecoin back into ethereum and also bought 2 bitcoin which i plan to hold. I would probably but more ethereum/bitcoin but im capped out at all my limits for the week.

I expect bitcoin to top out around 1900 at golds previous all time highs, take a brief dip and resume it's upward trend above 2k very soon.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
Looking like bitcoin did top out around 1900. I sold around 1900 and converted to ethereum. Currently sitting in all ethereum and it's holding steady around 90. Bitcoin is currently sitting around 1770, and still slowly pulling back (by slowly i mean gradually coming down fast in a span of a few days as opposed to rocketing down). I'm expecting it to come down a bit more then where it's at now. I'll probably get back in bitcoin around 1600 again and anywhere below that. I'm hoping ethereum will get a pop from this and other altcoins will get a pop from the selling in Bitcoin.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
yeah, im in all cash now. I hold no crypto. After ethereum hovered around 88-89 for a good 5+ hours, and litecoin and bitcoin dropping, I decided might be best i just wait this out. Depending on what coins drops more % wise, I'll probably hop into those. I'll get back in litecoin if it hits $25. It was at 25 earlier but i missed it.

I do expect it to go back up soon, but either way I made money and will buy back cheaper so it's a win win.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
I went all in litecoin. I got in friday night around $27. I did not expect this drop off from $1900 to be very long. I was hoping for it to go closer to 1400-1500 but looks like bitcoin stabilized around 1700 after briefly touching low 1600's and is now slowly on its way up towards 2300. Only a $300 drop when i was expecting closer to $500 but still a drop nonetheless. I'm hoping i can get to 50% gains on litecoin soon but we shall see. Looking for litecoin to break above $38 or below $23. So far it's anywhere between 28-32. We will know soon enough.

In case anyone missed this, it was a very short drop i was expecting in terms of time frame. Shorter than what i expected.
 
Last edited:

BeTheChange

Master Don Juan
Joined
Jun 28, 2015
Messages
1,469
Reaction score
1,144
@AAAgent

Had a read through this thread. Very Interesting stuff! How much would say you have made overall on cryptocurrency and with what capital? What's your ROI been?

This looks highly speculative but would be very interested in allocating a small portion of my investment capital (c. 5%) to something like this. What's the best way to get started?
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
jumped off litecoin. Looks like it's going lower and has been trending lower with bitcoin. I expect it to go lower into low 20's and will consider buying back in there.

@BeTheChange
I've been following crypto for years but wasn't a firm believer until it got more solid footing. I've only starting buying bitcoin since January 2017 and ethereum/litecoin as of April. My ROI is about 35% after fees which have cost me alot. I'm not the most efficient swing trader of this stuff, but it's a market this isn't heavily manipulated by the banks so it's alot easier for me to make money as I don't have time to trade and follow charts. I lost a decent bit off litecoin buying in at $27 and selling at $26 since off fees alone I lost about $200+ but still overall in the healthy green. If i didn't have to sell my bitcoin for the family emergency, I would be up closer to 60% after fees.

coinbase is great for beginners. It has an phone app too.
 
Last edited:

switch7

Master Don Juan
Joined
Dec 20, 2014
Messages
643
Reaction score
335
Location
uk
jumped off litecoin. Looks like it's going lower and has been trending lower with bitcoin. I expect it to go lower into low 20's and will consider buying back in there.

@BeTheChange
I've been following crypto for years but wasn't a firm believer until it got more solid footing. I've only starting buying bitcoin since January 2017 and ethereum/litecoin as of April. My ROI is about 35% after fees which have cost me alot. I'm not the most efficient swing trader of this stuff, but it's a market this isn't heavily manipulated by the banks so it's alot easier for me to make money as I don't have time to trade and follow charts. I lost a decent bit off litecoin buying in at $27 and selling at $26 since off fees alone I lost about $200+ but still overall in the healthy green. If i didn't have to sell my bitcoin for the family emergency, I would be up closer to 60% after fees.

coinbase is great for beginners. It has an phone app too.
Are you trading completely off fundamentals or are you using technicals as well?
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
both.
 

Roober

Master Don Juan
Joined
Nov 2, 2016
Messages
2,383
Reaction score
2,123
I wonder if this ransomware attack is less about the ransoms and more about getting more people into bitcoin to drive up the price?
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
I wonder if this ransomware attack is less about the ransoms and more about getting more people into bitcoin to drive up the price?
I'm hearing it might be central banks running these hacks to order to lower the price of bitcoin so they can buy back cheaper. It's alot harder to manipulate markets that don't have derivatives or paper markets. They physically have to buy and sell bitcoin to manipulate. Just a speculation and could be totally wrong.

On a follow-up to my last post, seem like it was a good idea to dump litecoin back around $26. It's still heading lower and will likely trend into lower 20's. It's hovering in the 24 range touching a bit into 25 and 23. I'm hoping i can buy back around $21 as I think they would be a great re-entry point assuming it holds above 20.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
Made a 30% gain off ethereum. Bitcoin seems to be heading to the next level of 2100-2300 as suspected. LTC is currently in limbo and we will see where it goes in the next few days.with the whole crypto industry trending up while the dollar begins to head into freefall, I don't see how LTC will be left out (i hope).
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
BTC just broke 2k.
ETH broke 120.
LTC still doing diddly.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
can't even keep up with monitoring this stuff or trading it anymore. Just buy and hold. I'm still holding small amounts of BTC and ETH.

BTC broke $2,120
ETH broke $160
LTC still doing diddly
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
Sold half my LTC and moved into BTC and ETH.

BTC - $2300
ETH - $180
LTC - $26 (still doing diddly)
 

Namaste

New Member
Joined
May 20, 2017
Messages
3
Reaction score
4
Age
32
Horde ETH it will surpass BTC. BTC will fall in June. Mark my words.

ETH is better and more secure than BTC.
 

BeTheChange

Master Don Juan
Joined
Jun 28, 2015
Messages
1,469
Reaction score
1,144
Sold half my LTC and moved into BTC and ETH.

BTC - $2300
ETH - $180
LTC - $26 (still doing diddly)
How much of your net worth would you say you've got in cryptocurrency at the moment?
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
liquid, i have about 5%. It's slowly increasing to 10%.
 

AAAgent

Master Don Juan
Joined
Dec 10, 2008
Messages
2,648
Reaction score
317
BTC - took a dip yesterday to $2k but it's back up to $2,250.
ETH - took a dip down to $150 yesterday but it's back up to $170.
LTC - after i decide to sell half, mr. diddly here shot up to $31. Still up a decent amount from this alone.

I am trying to get into Veritaseum ICO. Let's see if i can figure out how. Good ole intangible coins.
 
Status
Not open for further replies.
Top