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Bitcoin dropping after BTC China said it is closing

cnbc.com

21–30 of 182 posts

Re: Bitcoin dropping after BTC China said it is closing

#21

So it's lost half of its gains since early August. Bitcoin almost defines volatility.

Market cap is the main reason in my opinion. The more people get involved the less volatile it is going to be. You should see how volatile BTC was in 2011-2012, what is happening right now is nothing in comparison.

Re: Bitcoin dropping after BTC China said it is closing

#22
post #9

Earlier quoted context omitted.

I got some ETH at $230-$240 range but it would not surprise me if we see a $170-$180 range (next resistance level) the next hours.

Same here. I'm trying to figure out how to short ETH. Unfortunately, I'm a noob and don't know my way around.

If you use coinbase then you should try to login to GDAX with same credentials. It just works and the fees are like 0.25% per trade.

P.S.: GDAX is owned by Coinbase

Re: Bitcoin dropping after BTC China said it is closing

#23
post #2

> The cryptocurrency traded at $3,601.40 at 7:58 a.m. in New York, far below an all-time high of $5,013.91 set earlier this month. That's a 28% drop from the high. For normal securities a price drop like that in less than a month would be considered a crash. Does it count for BTC as well or are the elevated levels at the start of the month with too thin a volume to be considered legit?

For an entire index, that would be a crash. If AMD dropped from 10 to 7 in a month, that would be bad news, but pretty normal.

Re: Bitcoin dropping after BTC China said it is closing

#24

Earlier quoted context omitted.

Same here. I'm trying to figure out how to short ETH. Unfortunately, I'm a noob and don't know my way around.

If you use coinbase then you should try to login to GDAX with same credentials. It just works and the fees are like 0.25% per trade. P.S.: GDAX is owned by Coinbase

I logged into GDAX, but it requires a webcam to complete the setup. Something that I don't have at the moment.

Re: Bitcoin dropping after BTC China said it is closing

#25

Earlier quoted context omitted.

Resistance level? It's 2017 and you still believe technical analysis BS?

what is a better way to decide on buy/sell signals for cryptos in your opinion? Genuinely curious.

If you're willing to gamble, buy and keep buying, and hope it doesn't crash. If you're not willing to gamble, go by an index fund instead.

Anyone who thinks they can figure out buy/sell signals for cryptos right now is a lunatic.

Re: Bitcoin dropping after BTC China said it is closing

#26
post #23
post #2

> The cryptocurrency traded at $3,601.40 at 7:58 a.m. in New York, far below an all-time high of $5,013.91 set earlier this month. That's a 28% drop from the high. For normal securities a price drop like that in less than a month would be considered a crash. Does it count for BTC as well or are the elevated levels at the start of the month with too thin a volume to be considered legit?

For an entire index, that would be a crash. If AMD dropped from 10 to 7 in a month, that would be bad news, but pretty normal.

The bad thing is that in cryptocurrency markets if BTC falls then almost everything falls. I suppose this will not be the case in a more mature market.

Re: Bitcoin dropping after BTC China said it is closing

#27

Earlier quoted context omitted.

Resistance level? It's 2017 and you still believe technical analysis BS?

what is a better way to decide on buy/sell signals for cryptos in your opinion? Genuinely curious.

1. Buy coins.

2. Shut the fuck up about "signals" and "trading"

3. Build cool apps around the crypto ecosystem

4. See more and more people using cryptocurrencies

5. profit

Re: Bitcoin dropping after BTC China said it is closing

#28

Earlier quoted context omitted.

Resistance level? It's 2017 and you still believe technical analysis BS?

what is a better way to decide on buy/sell signals for cryptos in your opinion? Genuinely curious.

Buy when everyone is selling like a maniac and cross your fingers. You should not invest what you cannot afford to lose. High risk - high gain...

Re: Bitcoin dropping after BTC China said it is closing

#29
post #7

Wow, check out all the related stories, etc. CNBC really don't like bitcoin do they?

I never understood this. How does one conclude that media doesn't like something? If you put yourself in media's shoes, their whole agenda is - news and advertisements.

It's no secret that BTC fans tend to take offense at even small insignificant stories criticizing BTC. They will flock to CNBC, register accounts to show who is the boss. So what do networks do? Fan the flame and write even more stories de-riding BTC. Because any publicity is good publicity. The BTC fan reaction at that point is a forgone conclusion.

Re: Bitcoin dropping after BTC China said it is closing

#30
post #9

Earlier quoted context omitted.

I got some ETH at $230-$240 range but it would not surprise me if we see a $170-$180 range (next resistance level) the next hours.

Same here. I'm trying to figure out how to short ETH. Unfortunately, I'm a noob and don't know my way around.

You can short on Kraken. Fair warning: Kraken is absolutely not suitable for time sensitive trading. Their back end cannot handle low volume days, let alone high volume days. You can expect to enter the same order 5-10 times before it goes through without unspecified failures, and this is challenging because it may not accurately report whether an order succeeded at the API level, or was actually filled. But if your strategy can tolerate some uncertainly in when you'll be able to make an order, I guess it's ok.
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