Reasons why you should NOT trade cryptocurrencies

snapdragon1970 posted:
There will be opportunities in both directions ,I never rule out that possibility,charts can tell a lot but it only takes some positive data/news to flip direction.

Pipperidge posted:

togr posted:

BluePanther posted:

snapdragon1970 posted:
Weekly chart don't look good for BTC ,I'll sit on the side line till it breaks much lower.

SELL BTC!!! It will only go down! 😎

The expectations are quite opposite.
https://cryptodaily.co.uk/2018/08/why-bitcoin-btc-might-still-hit-60000-by-july-2019/

On top of that:
https://www.ccn.com/breaking-worlds-biggest-stock-exchange-operator-is-launching-a-bitcoin-market/
https://finance.yahoo.com/news/yale-university-invested-two-cryptocurrency-122602108.html

Bitcoin and cryptos are here to stay. Where the prices will go - we'll have to wait and see. But the way I see it in the longterm - it will only go up.

BluePanther posted:
You HODLer. 😀
'Everything' goes up - it's called INFLATION. 😝

TiffanyK posted:
Can you blame him?
I'd HODL some too.
Just enough that it doesn't hurt much if/when it crashes.
And at the same to a good enough number so that it can bring in a handsome profit if it ever blows up like it did last December.

togr posted:

snapdragon1970 posted:
There will be opportunities in both directions ,I never rule out that possibility,charts can tell a lot but it only takes some positive data/news to flip direction.

@Kieran I like your motto

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

davidwatson posted:

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

RichPort posted:
I theory that makes sense but crypto is not a mature market. It is stull developing. It could be banned or regulated or there could be some huge theft of funds that drives away investors. These things could all mean that crypto like Bitcoin could go from $6000 to $0

tradeFX4btc posted:
I don't see any issue with trading crypto currencies that have a fixed supply. It's better long term(store of value) than holding fiat that slowly inflates.

86% of 2017 ICOs are now in the red, Ernst & Young study finds (22 Oct, 2018)
https://www.marketwatch.com/story/86-of-2017-icos-are-now-in-the-red-ernst-young-study-finds-2018-10-20

ICO swindlers have absconded with some $100 million in investor dough, research firm says (15 Aug, 2018)
https://www.marketwatch.com/story/ico-swindlers-have-absconded-with-some-100-million-in-investor-dough-research-firm-says-2018-08-15

SEC fines, bars alleged fraudulent ICO promoter (14 Aug, 2018)
https://www.marketwatch.com/story/sec-fines-bars-alleged-fraudulent-ico-promoter-2018-08-14

The SEC created a fake ICO website to show just how easy it is to scam investors (16 May, 2018)
https://www.marketwatch.com/story/the-sec-created-a-mock-ico-website-to-show-just-how-easy-it-is-for-investors-to-get-fleeced-2018-05-16

Some of investors’ worst fraud concerns around ICOs backed by Penn study (6 Aug, 2018)
https://www.marketwatch.com/story/some-of-investors-worst-fraud-concerns-around-icos-backed-by-penn-study-2018-08-06

togr posted:

davidwatson posted:

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change

yellowman94 posted:

togr posted:

davidwatson posted:

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change

who knows what will happen in nearby years. i think crypto's will again make a great jump.

Faneel posted:

yellowman94 posted:

togr posted:

davidwatson posted:

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change

who knows what will happen in nearby years. i think crypto's will again make a great jump.

I would have forgotten about cryptocurrencies. They have already reached their peak. It is time to return to trading with conventional currencies. 😄

togr posted:
When the BTC price was stable around 6,500 there was not much to trade.
Nowadays market are crazy, just check XRP - new favourite for investors.
may overcome BTC one day.

BluePanther posted:

RichPort posted:
I theory that makes sense but crypto is not a mature market. It is stull developing. It could be banned or regulated or there could be some huge theft of funds that drives away investors. These things could all mean that crypto like Bitcoin could go from $6000 to $0

I quite agree.

tradeFX4btc posted:
I don't see any issue with trading crypto currencies that have a fixed supply. It's better long term(store of value) than holding fiat that slowly inflates.

'Fixed' supply you say? I do not agree: supply can be manipulated as easily as IP addresses were increased from IPV4 to IPV6 (source: https://en.wikipedia.org/wiki/IP_address).

Anything in a computer can be manipulated. Only physical assets (eg. gold, silver) cannot be.