[Daily Discussion] Thursday, May 31, 2018 Bitcoin Markets |
- [Daily Discussion] Thursday, May 31, 2018
- [Altcoin Discussion] Thursday, May 31, 2018
- Taking out loan to go long BTC
- Can someone please link to or explain that live comments trade tracking game?
- How Futures Trading Changed Bitcoin Prices
- Bitcoin going down to $5k range ?
- 2018 Cryptocurrency Crash (Elliott Wave): Triangle Phinance
| [Daily Discussion] Thursday, May 31, 2018 Posted: 30 May 2018 09:05 PM PDT Thread topics include, but are not limited to:
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| [Altcoin Discussion] Thursday, May 31, 2018 Posted: 30 May 2018 09:05 PM PDT Thread topics include, but are not limited to:
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| Taking out loan to go long BTC Posted: 31 May 2018 10:23 AM PDT Lets say someone has 100 BTC at a buy-in price of $1, so practically negligible investment. Why shouldn't that person take out a loan of lets say $100'000, buy BTC, hold until the price doubles, sell ~50% of it and pay back the loan, while also putting in a sell order at ~$1000 in case the price drops too low. Since it's very unlikely that the price will go down to sub $1000 levels, is that hypothetical person an idiot for not doing that? [link] [comments]  |
| Can someone please link to or explain that live comments trade tracking game? Posted: 30 May 2018 08:12 PM PDT I keep seeing people post along the lines of... !short 1,000 x y z (or something like that... I can't find an exact comment right now) But it's some kind of comment game that tracks your trades for others to see? I would love to start playing if somebody can point me in the right direction? Many thanks in advance! EDIT: I remember chewtoy plays it all the time I think... I'll look into his comment history to see if I can find anything more... ok, found one: https://www.reddit.com/r/BitcoinMarkets/comments/8lywrt/daily_discussion_friday_may_25_2018/dzkql8o/ He wrote: !short xbtusd close 7410 So... how does that work? [link] [comments]  |
| How Futures Trading Changed Bitcoin Prices Posted: 30 May 2018 11:13 AM PDT Pretty interesting read: https://www.frbsf.org/economic-research/publications/economic-letter/2018/may/how-futures-trading-changed-bitcoin-prices/ If this is to be believed, then I would posit that Bitcoin is tracing back to it's actual unadulterated price. The climb up then will be slow , steady and painful for everyone that is spoilt from the December run. [link] [comments]  |
| Bitcoin going down to $5k range ? Posted: 30 May 2018 02:05 PM PDT [Serious] question for all the bearish minds in here: do you think Bitcoin can or will go down to the $5k range again? Could you provide any opinions / arguments why you think this will happen? I'm personally pretty bearish because I first bought BTC during the 2013 hype and the past 6 months 'feel' more-or-less the same, just on different levels. Sold my BTC with -70% loss in 2016 because I needed the money at that time (Yes! I still have regrets!). [link] [comments]  |
| 2018 Cryptocurrency Crash (Elliott Wave): Triangle Phinance Posted: 28 May 2018 11:28 PM PDT 2018 Cryptocurrency Crash (Elliott Wave): Triangle Phinance Crosspost: https://bitcointalk.org/index.php?topic=2711461.msg38840191#msg38840191 History —08-JAN-2018: Elliott Wave, https://redd.it/7ptsg3 —12-JAN-2018: Crypto Black Monday, https://redd.it/7pxg0d —24-JAN-2018: Dotcom vs Crypto, https://redd.it/7skzff —21-FEB-2018: Bear Market Resumes, https://redd.it/7z8u6n —28-FEB-2018: Halfway Through, https://redd.it/7umjf9 —13-MAR-2018: Fare Thee Well Ten Thousand, https://redd.it/842ssd —19-MAR-2018: Equinox, https://redd.it/85m5tr —03-APR-2018: April Fools' Rally, https://redd.it/89jqye —19-APR-2018: 420 High, https://redd.it/8dbz4f —25-APR-2018: Symmetrical Triangle, https://redd.it/8ev2ki —06-MAY-2018: Ten Thousand Tease, https://redd.it/8hdhjn —29-MAY-2018: Triangle Phinance, https://redd.it/8mwx6z TLDR: https://i.imgur.com/J8Mf4X3.png From 17-DEC-2017 to 06-FEB-2018, the Bitcoin market declined 70% in just 50 days. This decline has been the first leg of the cryptocurrency bear market. Since the low set on 06-FEB-2018, the Bitcoin market has meandered sideways for over 100 days thus far. Price action appears to be contracting into a symmetrical triangle formation with diminishing volume and volatility. Bitcoin is behaving like a boring stable currency! Once the symmetrical triangle completes, the second leg, and most devastating leg, of the cryptocurrency bear market is expected to resume with a breakout in volume and volatility. A triangle formation reflects a balance of forces creating a sideways movement; an equilibrium and indecisive psychological state of mind between the bulls & bears, creating a period of consolidation as the market deliberates its next move. Five waves are expected in a contracting symmetrical triangle pattern, labelled as a-b-c-d-e waves. Under textbook Elliott Wave analysis, at least two of the five alternate waves are typically related to each other by the Fibonacci 0.618 golden ratio: https://i.imgur.com/J8Mf4X3.png —wave-a: Rallied 95% from 06-FEB to 05-MAR, retracing a 50% Fibonacci of the downtrend wave that began on 06-JAN. —wave-b: Declined 45% from 05-MAR to 01-APR, retracing a 95% of wave-a. —wave-c: 'April Fools Rally': Rallied 55% from 01-APR to 05-MAY. In regards to length, it was a Fibonacci 0.618% of wave-a and terminated just shy of the psychological 10,000 level. —wave-d: 'Sell In May And Go Away': Declined 30% thus far from 05-MAY to present. Should wave-d equal a Fibonacci 0.618% of wave-b, it would do so at around 6675 (BITFINEX) —and converging trendlines of the triangle suggest by early JUN. This wave-d must terminate above wave-b for the symmetrical triangle to remain valid; i.e. above the APR low of 6425 (BITFINEX). —wave-e: The final leg of the contracting symmetrical triangle pattern, and the shortest. Should wave-e equal a Fibonacci 0.618% of wave-c, it would do so at around 8875 (BITFINEX) —and converging trendlines of the triangle suggest by mid to late JUN. It is common for this final wave-e of a symmetrical triangle to either undershoot or overshoot. However, this wave-e must terminate below wave-c for the overall symmetrical triangle to remain valid; i.e. below the MAY high of 9990 (BITFINEX). Incidentally, CBOE Bitcoin futures expire on 13-JUN. Also, 16-JUN would mark 100 days since price last traded at the psychological 10,000 level. Upon completion of contracting symmetrical triangle pattern, the bear market is expected to resume towards 4257 (BITFINEX) which marks a Fibonacci 78.6% retracement of the entire Bitcoin market. Historically, when any asset bubble bursts, the unravelling bear market typically lasts 2 years on average (from peak price to ultimate low); and usually erases approx 90% in value (thebubblebubble.com/historic-crashes). Applying the metrics to the cryptocurrency bubble, it would suggest Bitcoin between $850 and $2500 (or $1000 on average) around 3Q2019. Speculative and guesswork Elliott Wave model indicative of price and structure not time, as follows: BTC (4hr): https://i.imgur.com/8Y7PkhS.png BTC (Weekly): https://i.imgur.com/jbcZG5o.png BTC (Daily): https://i.imgur.com/K4Nuj1n.png [link] [comments]  |
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