51–60 of 182 posts
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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.
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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.
Resistance level? It's 2017 and you still believe technical analysis BS?
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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
Take note, high-risk investors: now is a good time to buy.
There are other Chinese exchanges. If they announce something similar, Bitcoin will drop even further.
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The main reason for the volatility is that there is no actual use for them, and no entrenched demand via a tax system. The price of bitcoin can literally fall to zero. With fiat currency, achieving that would require the government losing its power to enforce tax collection. People losing interest in a fad seems to be a bigger risk than a governmental collapse.
> there is no actual use for them There's a use for BTC, it's just illegal.
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Comparing bitcoin to otc penny stocks is where we're at this point. I see bitcoin as more stable, but that doesn't really say much.
I am not making that comparison. Today's gainers and losers are priced more than $10. So not exactly penny stocks. Though both stocks mentioned are actually biotech stocks. Revolutionary but unproven tech. Wouldn't you say that is a fair comparison?
Take note, high-risk investors: now is a good time to buy.
Its really hard to call a bottom. Even if you think the security will recovery, buying in at $2000 is cheaper than buying in at $3000.
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> there is no actual use for them There's a use for BTC, it's just illegal.
Cash can be used for illegal purposes too. Private, unencumbered, tax-free transactions have licit purposes as well.
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In cryptocurrency world 10% daily change is considered normal. The markets were extremely volatile in the past and as years pass by they become more stable. We are not there yet but I believe in the future as the market cap increases and more people get involved the price will stabilize more and such changes will be considered a crash. Also do not forget the people that had money in BTCC exchange. I suppose many of t…
Tesla is considered an infamously overvalued stock, and even Elon Musk has publicly questioned the price in the past. It has had the highest number of shorts for any stock. Despite making 1/100th as many cars as the big manufacturers, it has a market cap higher than Ford and GM. That is not exactly a great comparison. A normal blue chip won't fluctuate more than ten percent in a month, let alone in a day. But currenc…
Of course the large move there was caused by politics but the same holds for this BTC drop.
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There are other Chinese exchanges. If they announce something similar, Bitcoin will drop even further.
And it is pretty likely they do so. In my opinion China is issuing their own e-currency pretty soon, so they don't really want any competitors. We are living in very interesting times.