Author Topic: BTS long term support  (Read 29161 times)

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Offline islandking

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Bitcoin had a nice rise today. Seems like it could go lower though as there is a lot of uncertainty right now. If it breaks below $200 we could see another dump.

I am not a trader, just my opinion.
« Last Edit: January 16, 2015, 01:11:34 am by islandking »
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Offline Akado

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Relax, it will happen on its own time. Hoping that it will move one way ignoring the fundamentals is going to leave you with losses.

Our time will come soon, don't worry.

I agree with this. If you truly believe in this project, then short term value doesn't matter. It's just a matter of time. From all we know, we are still all "early adopters" as probably 99% of the world doesn't know about cryptos. So think on the long term.
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Relax, it will happen on its own time. Hoping that it will move one way ignoring the fundamentals is going to leave you with losses.

Our time will come soon, don't worry.

Offline mf-tzo

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I think that if there is an opportunity to distinguish ourselves from other alts is NOW! We have done it once, let's do it again so people remember us. I measure everything in $ terms rather BTC terms.

If we go down to NXT market cap levels we will always be stigmatized as everything else out there and nothing special. If BTS gets pumped now when everything else is falling people will see us differently.
No matter what happens to XRP now, people will always see XRP differently after what it has done the last couple of months...
Now is our chance to take over LTC. So please stop selling and everyone put your self together, stay cool and buy the shit out of every BTS you can. 8)

Offline Ander

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Okay, now THAT counts as blood in the streets, imo.  Though it could get much more bloody in the coming days, if these levels do not hold.

I am surprised by this drop in BTC.  Clearly the BTS price is merely following.  Actually its gone from ~4800 to 5200 satoshis during this drop, its doing a tiny bit better, if that is any consolation. 
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Offline oldman

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when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Yeah, the problem is that people always bring out the blood in the streets quote like 3 different times before the actual bottom.

Bitcoin tanked much harder than I expected it would. 

As long as you arent on margin you can afford to simply hold and buy more even though its really painful right now.  Average down your cost and then you eventually make money if it returns to where you bought it initially. 


Crypto bear market moves are surprisingly brutal. ;)

I'm a bit taken aback as well - not sure who is doing the selling, but damn, they are on a mission.

I maintain my tin foil position: market is being driven by big money accumulating for a pump.

Big money buys X coins from miners off-market and continuously sells X-N coins on-market, enough to keep the bear market going.

As soon as the ETF's are approved (probably right around the depth of the despair stage) the lid is going to come off. Most epic short squeeze/pump in history.

Folks are sitting at the top of the SP500 staring into the abyss - but are too greedy to take profits and go to cash.

As soon as they see another train leaving the station, the hop from VOO/IVV/SPDR to COIN is pretty easy for some hot, speculative house money.

I think BTS is going to get a helluva pump when non-ETF BTC value takes profits and looks to diversify.

Offline Ander

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when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Yeah, the problem is that people always bring out the blood in the streets quote like 3 different times before the actual bottom.

Bitcoin tanked much harder than I expected it would. 

As long as you arent on margin you can afford to simply hold and buy more even though its really painful right now.  Average down your cost and then you eventually make money if it returns to where you bought it initially. 


Crypto bear market moves are surprisingly brutal. ;)
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Offline liondani

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So any trading ideas regarding Bitshares?
Do we expect any news that will drive the price up?
Is it time to buy more or are we heading to an endless bear market driven by bitcoin and we should just take our losses and wait until bitcoin's bear market finish and enter back?
Every day I think that BTS can't go lower than than and everyday the price is just disappointing. I am hesitant to sell my BTS now and cut my losses because every time I do this a bull market starts...On the other side BTS market cap keeps falling more than BTC and this is scary...

Maybe the answer to my email from Shapeshift.io before 3 days will make us all be more confident ! (or at least less depressed  ;))
I personally thing it will help a lot!....

Hello Daniel,

It is in the pipeline... very likely by Jan 20th.

Thanks,
Beorn

::ShapeShift.io

On 01/10/2015 08:19 AM, liondani wrote:
> I just want to know when shapeshift will support bitshares BTS + their
> bitAssets like bitUSD, bitBTC, bitGOLD etc.   ?
>
>
> Thanks,
>
> Daniel





Offline liondani

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when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Sent from my ALCATEL ONE TOUCH 997D


Offline islandking

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Wow we are approaching $0.01 now....
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Offline nomoreheroes7

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Pretty good looking inverse head and shoulders... I have been looking for a bottom in crypto ever since we started getting divergences from different alts like ripple.  If we break the neckline at 0.15 I would say that the downtrend is over and we should start to move up if not consolidate.  If we get rejected off 0.15 and break through that support line we probably test support around 0.07 for another flush out of the longs.  This would be around a $25mil market cap.

Here's the flush I thought we would get if we were unable to break 0.15cny...  starting to get bloody out there

...let's hope support at 0.07 holds I guess (already broken through)...at this rate we'll be back to pre-pump price pretty dang quick.

Madness. I can't tell if it's just because bitcoin's tanking, or if BTS truly is losing steam.

Offline lil_jay890

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Pretty good looking inverse head and shoulders... I have been looking for a bottom in crypto ever since we started getting divergences from different alts like ripple.  If we break the neckline at 0.15 I would say that the downtrend is over and we should start to move up if not consolidate.  If we get rejected off 0.15 and break through that support line we probably test support around 0.07 for another flush out of the longs.  This would be around a $25mil market cap.

Here's the flush I thought we would get if we were unable to break 0.15cny...  starting to get bloody out there

Offline mf-tzo

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Quote
You are seeking to lessen your discomfort of uncertainty by trying to get others to answer questions that are essentially unanswerable (ie. you are trying to offset the emotional burden of bearing risk - which is not possible except by purchasing insurance).

What are you going to do if you decide one way but then the market goes the other way? Will you then complain: "But fill in the name(s) said such and such"?

Your first paragraph is probably correct.
 
Your second paragraph is out of the question that I would ever do that and start filling names... Everyone is entitled for their opinions and everything expressed here are only opinions. I am asking opinions and advice from more advanced traders than myself, from developers that may have a lot of developments in the pipeline that I am not aware of and generally opinions from the community to see if we are in a bearish or bullish mood. I have never pointed any finger to anyone for his opinion in my life and I do not intend to start pointing fingers now irrespective of any opinion..




« Last Edit: January 12, 2015, 09:30:30 pm by mf-tzo »

Offline islandking

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I can get a "loan" by shorting bitusd  and offer a ridiculously high interest rate. But are there any news that may support that or is it pure gambling?

Quote
Don't take out a loan to buy BTS! I would sell what you need in order to cover your costs for the next 3 months. Personal finance 101...

Unfortunately my BTS holdings are by far not sufficient to cover my next 3 months coming expenses but just a small portion of it and I am not sure if I should do that now and enter the market later on. I would hate myself if I sell everything now and lose any potential huge upside within the next 3 months. But do you guys believe that we will see some upside or are we going down now?

 

You are seeking to lessen your discomfort of uncertainty by trying to get others to answer questions that are essentially unanswerable (ie. you are trying to offset the emotional burden of bearing risk - which is not possible except by purchasing insurance).

What are you going to do if you decide one way but then the market goes the other way? Will you then complain: "But fill in the name(s) said such and such"?

Exactly. We can only "guess" what *may *happen to the price. Nobody knows for sure. This is why short term trading is gambling unless you are a professional. It is much better to pick a long term investment and just hold for 2-3 years instead of day trading as a newbie.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi