Reasons why you should NOT trade cryptocurrencies

togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.

That is what I said in the beginning:

BluePanther posted:
As with any ponzi scheme (BitCoin, ICO, or HYIP) the gains are only good in the beginning - but take your money and run before you get 'left holding the bag'.

It 'seemed' you were saying something different.
Glad we have come to a mutual understanding.

Hannibal55 posted:
Is 200 MA really that important? I have tried adding it to my charts and I never really see any resistance around it. That is for Forex not crypto though

It depends what it does around that level ,say it spiked through it 50 pips, that could be a sign of reversal ,other factors need to be considered with it.

BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

togr posted:
Well BTC is still 4 times the value compared to MAR 2017

togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.

togr posted:
And it gather 20,000% since its low :)

togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.

togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....

togr posted:
I was replying to your sentence.
...Gonna be awkward seeing relatives again this holiday season if you convinced them to buy crypto last year...
The point is if you bought BTC last year for 1,000 and sell today for 4,000 you still make 300% profit.
Do not try to make my answers reply to something else.

togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.

Forgive me for thinking you were saying something else.
I am a literal person and interpreted you as saying: 'don't jump ship' (ie. keep HODLing)

I am saying: take the profits (losses) before you get 'left holding the bag': https://en.m.wikipedia.org/wiki/Bagholder
(ie. before BTC / ETH / etc. become worthless - can I say such a 'profanity'?)

Each trader to their own perspective.

Already got a strong bounce from BTC up $1000 in a couple of days. Could be the start of a rally up to $20,000 again.

BluePanther posted:

BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

togr posted:
Well BTC is still 4 times the value compared to MAR 2017

togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.

togr posted:
And it gather 20,000% since its low :)

togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.

togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....

togr posted:
I was replying to your sentence.
...Gonna be awkward seeing relatives again this holiday season if you convinced them to buy crypto last year...
The point is if you bought BTC last year for 1,000 and sell today for 4,000 you still make 300% profit.
Do not try to make my answers reply to something else.

togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.

Forgive me for thinking you were saying something else.
I am a literal person and interpreted you as saying: 'don't jump ship' (ie. keep HODLing)

I am saying: take the profits (losses) before you get 'left holding the bag': https://en.m.wikipedia.org/wiki/Bagholder
(ie. before BTC / ETH / etc. become worthless - can I say such a 'profanity'?)

Each trader to their own perspective.

Once again - my last comment.
BTCUSD is at $4,000.
What does it mean? If you
bought at $20,000 and sold today you lost a lot.
bought at 1,000 and sold today you make a lot.
If you are holder than hodl.

Imagine selling it at 20,000 and buying e.g. XRP. That could make a lot of profit. yeah time machine - but that does apply even to physical asset like gold.
If you bought GOLD for 1,200 at JAN 2017 and sell today you get zero profit or loss:)
All assets price is changing. EUR drop a lot of value as well.
It is up to you to make profit at the end. Or accept small loss.

Check this out BTW

Crypto currency doesn’t mean only BTC. There have so many coins; so I think, there have a good future for crypto.

togr posted:
Once again - my last comment.
BTCUSD is at $4,000.
What does it mean? If you
bought at $20,000 and sold today you lost a lot.
bought at 1,000 and sold today you make a lot.
If you are holder than hodl.

Imagine selling it at 20,000 and buying e.g. XRP. That could make a lot of profit. yeah time machine - but that does apply even to physical asset like gold.
If you bought GOLD for 1,200 at JAN 2017 and sell today you get zero profit or loss:)
All assets price is changing. EUR drop a lot of value as well.
It is up to you to make profit at the end. Or accept small loss.

Amazing. I do not know what to say.
Great reason not to trade cryptocurrency?
Thanks for your contribution.

togr posted:
Check this out BTW

Yeah, completely understand.
What goes up must come down... eventually.
Thanks!

AniLorak posted:
Crypto currency doesn’t mean only BTC. There have so many coins; so I think, there have a good future for crypto.

The same with penny-stocks: so many they must all have a good future.
You had better invest in all of them.
A wise investment decision.

Hunker down, crypto owners, the worst is yet to come: Fred Wilson (Nov 29, 2018)
https://www.marketwatch.com/story/hunker-down-crypto-owners-the-worst-is-yet-to-come-fred-wilson-2018-11-29?siteid=rss&rss=1

Bitcoin at odds with economic laws - Paul Donovan from UBS (Nov 29, 2018)
https://www.fxstreet.com/cryptocurrencies/news/bitcoin-at-odds-with-economic-laws-paul-donovan-from-ubs-201811290911

Whither Bitcoin? A Review of Past Cycles for the World’s Oldest Cryptocurrency (Nov 29, 2018)
https://www.fxstreet.com/cryptocurrencies/news/whither-bitcoin-a-review-of-past-cycles-for-the-worlds-oldest-cryptocurrency-201811291444

The wild fluctuations in value is not a desirable characteristic of a ubiquitous stable method of exchange.
The historical performance is more akin to 'pump-and-dumps' and/or ponzi schemes.

BluePanther posted:

AniLorak posted:
Crypto currency doesn’t mean only BTC. There have so many coins; so I think, there have a good future for crypto.

The same with penny-stocks: so many they must all have a good future.
You had better invest in all of them.
A wise investment decision.

Yes; but I am more excited on crypto. Even I see, so many impressive new coins.

Why Centralized Cryptocurrency Exchanges Make Terrible Custodians For Crypto Assets (Nov 7, 2018)
https://www.forbes.com/sites/rachelwolfson/2018/11/07/why-centralized-cryptocurrency-exchanges-make-terrible-custodians-for-crypto-assets/?ss=crypto-blockchain#3bd004c2e18c

Elon Musk Mocks Bitcoin Security And Scams With Tongue-In-Cheek Tweet (Oct 23, 2018)
https://www.forbes.com/sites/billybambrough/2018/10/23/elon-musk-mocks-bitcoin-security-and-scams-with-tongue-in-cheek-tweet/#5ff6565e2184

AmDiab posted:
Yes; but I am more excited on crypto. Even I see, so many impressive new coins.

What are you waiting for? Just buy it already!

On my mind, cryptocurrency is a good chance for earn money only if person is a very expirienced, spent a lot of time observing it's lifecycle. So, if person is a beginner, it's better to start with something easier on demo account.

i agree. crypto's are highly volatile, newbie cannot handle it but it isn't easy to trade for an experienced person as well. predictions go wrong all the time. like i predicted that by the end of the year maybe the price will have some rise, but i was wrong. so i won't say you shouldn't trade but you should have a very wide risk margin.

jayjoh posted:
i agree. crypto's are highly volatile, newbie cannot handle it but it isn't easy to trade for an experienced person as well. predictions go wrong all the time. like i predicted that by the end of the year maybe the price will have some rise, but i was wrong. so i won't say you shouldn't trade but you should have a very wide risk margin.

There are more cryptos to trade than just BTCUSD
While BTCUSD is had dropped a lot there are other interesting pairs where you can still buy

togr posted:

jayjoh posted:
i agree. crypto's are highly volatile, newbie cannot handle it but it isn't easy to trade for an experienced person as well. predictions go wrong all the time. like i predicted that by the end of the year maybe the price will have some rise, but i was wrong. so i won't say you shouldn't trade but you should have a very wide risk margin.

There are more cryptos to trade than just BTCUSD
While BTCUSD is had dropped a lot there are other interesting pairs where you can still buy

@jayjoh:
1. The entire market has dropped more than 80%:
https://www.cnbc.com/2018/11/23/cryptocurrencies-have-shed-almost-700-billion-since-january-peak.html

2. 80% of new ICOs fail:
https://www.investopedia.com/news/80-icos-are-scams-report/

Guys, how do you think, what is the difference in dependencies of currency and cryptocurrence markets?

Bitcoin, Ethereum and Ripple could be taxed and it doesn’t help them (DEC 3, 2018)
https://www.forexcrunch.com/bitcoin-ethereum-and-ripple-could-be-taxed-and-it-doesnt-help-them/

Ethereum Classic (ETC) run out of money; developers leave the project (DEC 4, 2018)
https://www.forexcrunch.com/ethereum-classic-etc-run-out-of-money-developers-leave-the-project/

ETCDev Shutters Business, Consensys Tightens Belt, ETC Drops (Dec 4, 2018)
https://www.talkmarkets.com/content/us-markets/etcdev-shutters-business-consensys-tightens-belt-etc-drops?post=201158

EOS Tumbles 21.83% In Bearish Trade (Dec 04, 2018)
https://au.investing.com/news/cryptocurrency-news/eos-tumbles-2183-in-bearish-trade-1336469

G-20 Leaders Reiterates Pledge to Regulate Crypto-Assets (Dec 04, 2018)
https://au.investing.com/news/cryptocurrency-news/g20-leaders-reiterates-pledge-to-regulate-cryptoassets-1336466

5 Altcoins That Disappeared this Year (Dec 04, 2018)
https://www.financemagnates.com/cryptocurrency/news/5-altcoins-that-disappeared-this-year/

https://deadcoins.com/