New Deal - Crypto Is Half Price Today!

fratzhaus on 20/05/2021 - 08:31
Last edited 20/05/2021 - 17:01

I'm taking the hit and buying the dip - you only lose money if you sell the coins!!!

Fun questions while we cry together:

  • How are all our Crypto Investments going?
  • Did you sell before the crash?
  • What platform do you use?
  • What controls your decision making in the markets? (indicators/trading bots/hodl)

I have the below coins with my profit/loss, and mostly rely on buying and holding. I was up 40% overall 2 days ago, I am now only up 7%.

  • ADA (-4%)
  • ALGO (-28%)
  • MATIC (+48%)

I use swyfx, and my decision making is based on a few people around me who are very smart and much more successful in crypto investing.

Please appreciate the joke title, though now would be a good time to buy in - especially ADA imo. It'll go way up real quick. Anything under $2 is smart. Not a financial advisor.

EDIT: Picture of the day right here: https://imgur.com/a/jWpqkO9

Financial Cryptocurrency

Comments

    • Ghost47 on 22/05/2021 - 14:13
      +1

      Can you eat it?

    • rakerr on 23/05/2021 - 17:37

      Only down 50% in 48hours. Solid pick.

      • Toffees on 23/05/2021 - 18:05

        Come back in a few months

  • Tiredman on 21/05/2021 - 14:23
    +1

    How are all our Crypto Investments going? Took profits along the way so wasn't too bad
    Did you sell before the crash? Yes. Luckily cut my alts by 75% 3 days back.
    What platform do you use? BTC markets
    What controls your decision making in the markets? (indicators/trading bots/hodl) trading and hodling.

    Sold a bunch before and at the start of the dip but non under 43k. Bought some back low 30s. So overall this dip has been a gift. Almost capitulated. Truly scary dip. Still got a long position stuck on bybit. FFS.

    Remember to take profits. At least your capital back. You don't want to get caught in such a dip with your pants down.

  • [Deactivated] on 21/05/2021 - 15:41

    "Anything under $2 is smart"

    Are you serious? Do you have any idea how market cap works?

    The market is about to burst or has already and this is a dead cat bounce, the fact that new money that clearly thinks 40% gain is awesome with no idea how market cap works is a sure sign the crash ahs/ is happening.

    Seriously the amount of mis-information in this forum is so bad, its as if you base your trading decisions on reddit advice.

    • fratzhaus on 21/05/2021 - 19:00

      Anything under $2 for ADA, happy to stand by that claim - am aware how it works. Plenty of other coins will burn but that's not new.

      • Dsquall on 24/05/2021 - 06:47
        +2

        You know ada was sitting around 10c prior to this boom? This entire boom has been fuelled by reddit and Elon, the fundamentals around bitcoin haven’t changed.

      • [Deactivated] on 24/05/2021 - 16:57

        So now its $2 for ADA?

        Hope your are loading up your bags now. What makes you think $2 USD is a golden magic number?

        Please enlighten us with your new found crypto valuing techniques, can you also give us investment health of other coins? Is it a matrix of value vs adoption?

        Have you invented a new system or is this all referenced back to BTC or Ethereum? Which reports have you based your findings on?

  • quick-dry on 21/05/2021 - 15:52

    Is anyone using or know of a good exchange or exchange connected platform that implements a trailing stop either as a set value or a percentage?

    Anyone with interesting low caps on pancakeswap? I've been accumulating mostly stuff I think has a solid future and reason for existing (with a little memecoin/shitcoin for the fun of pumps), but I've been setting aside some for higher risk to spread little amounts at coins that haven't been listed on the main exchanges yet.

  • Hugh G Rection on 21/05/2021 - 16:28

    just average down, that's what im doing

    • Scythic on 22/05/2021 - 12:45

      Don't get rekt

  • Dack Smith on 21/05/2021 - 17:35

    Check out this article -

    Brisbane woman now multimillionaire at young age from cryptocurrency portfolios

    https://www.news.com.au/finance/money/investing/brisbane-wom…

    • serpserpserp on 21/05/2021 - 21:12

      “In terms of stocks, I try to invest in companions that compliment the cryptoasset sector such as PayPal, Square….

      uh-huh

  • Dack Smith on 21/05/2021 - 17:36

    It does appear that many have made big money off cryptocurrency, so much so that they are essentially retired at age 40

    No more grind for them, only luxury

  • Dack Smith on 21/05/2021 - 17:39

    This guy made a cool $13 million bucks from cryptocurrency

    https://thehustle.co/how-i-made-13-million-cryptocurrency-et…

  • MrBillions on 21/05/2021 - 20:24
    -1

    i'm in the deep sht dip with humm, airtasker, luminar, baba, bigcommerce … all turned into shit this year….the only thing that's holding my portfolio up is tesla and that's a real real worry…getting out of the casino as soon as i can…

  • raiseyoursteaks on 21/05/2021 - 20:36
    +2

    Fellow brethren. I was surprised in a good way looking at this thread. For the new buyers, consider yourself baptised. Remember these days when your friends start calling you lucky. The first 30-40% dip is the worst but after seeing it a few times, you start to get a hang of it. In Bitcoin since 2016. The biggest moments to me was when $20k crash (wiped out some friends) and the Covid-19 crash, by then I was well primed to know that this was an opportunity to buy.
    My alts trade consists of the high risk and low risk (good projects). Most of it all leads back to Bitcoin and Ethereum. This is an accumulation game, although when these crash happen, there's still a small voice telling "what if this is it?"…

    I bought this dip all the way down, when I saw the way it bounced of $31k, I had to load up and guess what… The exchange was laggy. All on all….I'm bullish but let's see in a year.

    That being said, remember some alt coins are true shit coins. Stay safe and remember to use a hardware wallet once your holding becomes significant.

    • [Deactivated] on 21/05/2021 - 21:54

      What is significant for you?

    • 1Kenobi on 22/05/2021 - 08:58

      Why a hardware wallet and when?

      • TEER3X on 22/05/2021 - 09:13

        So your money isn't on an exchange, all of which are vulnerable to being hacked and your money will disappear.

        Only the hardware wallet holder will be able to access the funds, no one else.

    • pipe on 23/05/2021 - 14:45

      Follow this guy at your peril.

  • studentl0an on 22/05/2021 - 09:06
    +1

    I'm seeing quite a few mining rigs pop up on FB marketplace, albeit at exorbitant prices. It's not just the older inefficient ones either, but 5700 rigs which are still really good MH/watt.

    I don't think that was the case the last few times there was a large correction.

    • fratzhaus on 22/05/2021 - 09:13

      I've seen a bunch on other forums - but the high prices are likely influenced by the GPU shortage - and the fact that the new cards perform significantly better than the older ones.

      New cards, if someone gets their hands on them, justify ditching the old. The old cards have kept or increased in value because of the shortage.

      I sold my 1060 for more than I paid 3-4 years ago. It's currently a bit crazy.

  • TEER3X on 22/05/2021 - 09:11
    -4

    Let me know when we actually have a use for Bitcoin.

    Until then, if people are making loads of money, good for them.

    If you're vocabulary in finance consists mainly of the following words/phrases: to the moon, buy the dip, hodl, diamond hands, laser eyes…. Maybe your just an idiot, idiots can make money too.

    • studentl0an on 22/05/2021 - 09:21
      +3

      It's a store of value - like gold and can be used as currency. Unlike gold it actually has a finite amount, whereas with gold if you are rich enough you can create a company to mine it out of the ground at a pace colluding with other gold miners to keep the value high.

      Bitcoin can't be copied or hacked (without you making a mistake). You can have access to it anywhere in the world just by remembering a string of words as a passphrase - so it's potentially a lot harder to steal than gold or to purchase fakes. It's easier to move than cash.

      It doesn't weigh anything and can't be checked by authorities/taken away if you are holding a lot and moving between states/countries.

      It's fully traceable, so it's not a good idea to use for illegal purposes. Yes it uses a lot of electricity to keep the ledger going, but how does that compare to all the financial institutions in the world and all the workers needing transport to and from the buildings? I'd like to see a comparison there, as cryptocurrencies have the potential to make the entire financial sector obsolete - and those companies are some of the worst companies on the planet such as HSBC money laundering for the Mexican Cartels, causing the sub prime crisis to purchase workers homes for pennies on the dollar, ect.

      • Tyrx on 22/05/2021 - 09:30

        How is that "store of value" going for you? Why do you think that all cryptocurrencies crash together? It's because they are backed up by the same commodity - thin air.

        • studentl0an on 22/05/2021 - 09:34
          +2

          Fantastic because I bought in a long time ago, and most my money went to mining which has paid for itself many times over.

          I'm not in crypto to make cash in the short term anyway, I see crypto as the natural progression to the financial sector. Every industry is being taken over by technological advancements, and I don't see the financial sector being immune to this.

          • Tyrx on 22/05/2021 - 09:42
            +1

            @studentl0an: Congratulations on your gains - but that's exactly what you don't want from a store of value.

            Every industry is being taken over by technological advancements

            Mate, distributed ledgers have been around for nearly three decades now. There's nothing new about this, nor do it solve anything that hasn't already been solved. We are 10 years into the cryptocurrency craze and yet there is only a single viable use case that came out of it - privacy coins like Monero.

            • studentl0an on 22/05/2021 - 09:44

              @Tyrx: I disagree on your points (with my reasons already stated above) and I guess the only way we will know is in a few years time.

              In regards to having a ledger 30 years ago that may be the case but there were no exchanges or easy way to transfer private keys. No one realized the value until the last decade, and we required the infrastructure to be built in the forms of exchanges to actually trade it.

      • ranap on 22/05/2021 - 09:40
        -2

        An "asset" which aspires to be the safe storage of value against a tyrannical central banks/ government of the world is so affected by the actions of the same central banks/government
        Sweet irony for all the "investors" in cryptocurrency.

        • studentl0an on 22/05/2021 - 09:50
          +1

          I could say the same about gold, or house prices being propped up by government policies. Even shares are dependent on government policies which are favorable to certain industry sectors.

          What happens when China no longer purchases debt?

      • TEER3X on 22/05/2021 - 10:31

        Gold is finite.

        I was always against btc because of the power it used, even though I mined a little bit back in the day to keep the house warm (was paying only 5ckw/hr in the US)…. Well before troll musk said anything about the environment.

        Long term play I think it's a solid investment, but eth is looking the most promising imo.

        Thank you for the run down though, most of that makes sense.

        • studentl0an on 22/05/2021 - 10:50

          Gold isn't finite though, we mine over 3000 tones every year and that's with the collusion taking place between international mining conglomerates to not mine more as that could cause a crash in price and reduce their profit margins.

          Let's say that it turns out all crypto puts out less carbon emissions than the entire financial sector, while being a more efficient way to send and receive funds too. There is every possibility of this being true, but I can't find any solid information on it and would really like a study done to get a more informed opinion on it. If it was the case though, would you then think crypto is OK and that fiscal institutions are bad for the environment? I personally don't think it matters that much, that the 'green' problem is media FUD to get people to sell their coins so their billionaire owners can purchase them up for pennies on the dollar then rinse and repeat (as may be the case now). I would need to see a study on the impact of carbon emissions between crypto and the financial sector to really get an informed opinion though.

          No worries, discussions like this are what keep me level headed about crypto being a long term fiscal tool rather than getting caught up in the get rich quick aspects of it.

          • MontyMacaw on 22/05/2021 - 21:57

            @studentl0an: You wanted a study? Click on this and take a deep breath of reality: https://twitter.com/i/events/1395815800280342529?s=21

            • studentl0an on 23/05/2021 - 08:14

              @MontyMacaw: That article isn't a study, it's just talking about BTC with no mention of the energy use of the entire financial sector.

              I'm after a peer reviewed study comparing the two, not a FUD article with an obvious axe to grind.

              • MontyMacaw on 23/05/2021 - 12:53

                @studentl0an: Never question the axe. The points are valid clues into where Crypto mining will be portrayed as the villain. That vilification will affect the market.

    • Toffees on 22/05/2021 - 19:13
      +1

      I learned about bitcoin in 2017.

      I was trying to move $1000 from my Canadian bank account to my Australian and was amazed by the fees. $80 in fees and a few days to make the transfer.

      At the same time I had a friend tell me about bitcoin and realised how valuable it could be. Borderless payments that need no third party? Revolutionary

      Yesterday I tried to move money from one bank account to another, and that transaction won't occur until at least Monday. That's not how money should work.

      Cryptocurrencies are an update to money and if you can't see value in that God help you.

      • djmm on 23/05/2021 - 18:14

        Lol

    • Cusack on 23/05/2021 - 09:40

      How's it different to shares?

      • rgr on 23/05/2021 - 13:16

        LOL

  • ranap on 22/05/2021 - 09:29

    An "asset" which aspires to be the safe storage of value against a tyrannical central banks/ government of the world is so affected by the actions of the same central banks/government
    Sweet irony for all the "investors" in cryptocurrency.

    • Blargman2001 on 22/05/2021 - 10:16
      +1

      A 'store' of value does not fluctuate like crazy at the whim of the news cycle. Like others have said, it's been 10 years and hundreds if not thousands of iterations of various crypto's using all sorts of technology and the great fiat ponzi still rules the world. Crypto is like the hot stock that everyone is piling in to right now because it's making money, but no one knows why and they have FOMO. In fact the very reason crypto is rocketing is because of the monetary policy of traditional governments and their fiat. All of this money printing going on around the world is the very reason crypto is worth what it is. Ironic.

    • techlead on 24/05/2021 - 09:01

      Government can influence it, but ultimately Bitcoin and other crypto assets are safe against tyrannical central banks/government.

      Look at other investment classes:

      Real estate - Government can change taxes at the drop of a hat. Look at the Victorian government changes. Look at the changes in NZ where housing affordability is now formally in the remit of their central bank, no more dodging responsibility like the RBA.
      Gold - Did you know gold was confiscated by the US government when Nixon "temporarily" took the dollar off the gold standard? Look it up

      So in comparison, Bitcoin is way more resistant to tyrannical central banks/government, but it will never be free from its influence, nothing will ever be.

  • lord henry on 22/05/2021 - 12:19
    -2

    Why use a currency whose value is influenced by governments, when you can have a currency that people can't use to buy anything (except maybe drugs), whose value is determined by the kind of drugs one of the richest men in the world has decided to take this particular day. /s
    The idea that there are a finite number of coins in a currency is meaningless when there are infinite number of potential currencies.

    • fratzhaus on 22/05/2021 - 13:11
      -1

      There's plenty of places that accept crypto, and at the very least it's fairly easy to exchange.

      Also that last statement makes no sense. The value is put against the individual currency. Just like USD and AUD are different currencies, and hyperinflation exists and wipes out specific currencies - like the German mark.

      Having a finite amount of something makes inflation that little bit harder to do - you can't print more BTC when they run out.

      • Blargman2001 on 22/05/2021 - 13:22

        So having the value of some crypto's dropping 40% in a few days is not considered 'hyperinflation' as well? Cherry picking much? Today I can buy 1kg of oranges with my crypto and tomorrow I can only buy 0.6kg of oranges. Is this the future of currency everyone is talking about?

        • JelIyfish on 22/05/2021 - 15:42
          +1

          Ah the great 2021 orange bubble.

        • serpserpserp on 22/05/2021 - 18:31

          Yeah but the real question is how many tulips can you buy tomorrow with your crypto?

      • lord henry on 22/05/2021 - 13:37
        -1

        People aren't using crypto's for currency - they are almost exclusively being used as a speculative asset (the fact they can be exchanged for currency only evidences this point). Tesla isn't even accepting bitcoins any more.
        The reason is that the is no existing crypto that works as an effective currency - that is, capable of high numbers of simultaneous transactions at low cost.
        With the obvious exception to that being the purchase of drugs, child exploitation material and other unsavoury things on the deepweb.

        Second point. So, inflation is bad, and coins in a particular crypto are limited, therefore less scope for inflation, therefore crypto is good?
        Why is too much inflation bad? Because it means the value of a currency can fluctuate a lot, and people don't like that. What do cryptos do? Lose half their value overnight. Or they can double. Or anything in between.
        So the inflation thing really misses the point, because the point is wild value fluctuations, which is a feature of all of the cryptos in the market.
        And what causes those fluctuations? A few words by a guy who may or may not own large swathes of the currency, and could be manipulating the price to make money. Or he isn't doing that and instead manipulates the currency for lulz.
        I can hardly think of a worse basis for a currency.

        • Blargman2001 on 22/05/2021 - 14:56

          Definitely, see my comments earlier in the thread.

          I think crypto at the moment is just playing to human psychology. There are the level headed ones who look at it objectively and see it for what it is, a speculative vehicle for making money. Then there are those who are wholly invested in the idea that it is the future of finance. By investing in crypto they are a special group who have made the right decision on the future of finance, unfettered by the old ideas of currency, charting their own path that will lead to the future. I mean that vision addresses all of your universal psychological needs right there (google it if you don't know what they are). It goes up and down wildly, the returns can be huge, just as the losses can be significant. It's the perfect dopamine rush. How can it not suck some people in?

      • djmm on 23/05/2021 - 18:15

        Crypto's value is still attached to money, that's the problem. It is only really feasible as pure independent payment if it can't be bought by money.

  • baldur on 22/05/2021 - 13:26
    +2

    There is no such world that everybody can be rich at the same time.

    • TEER3X on 22/05/2021 - 14:48
      +1

      Yeah but the wealth gap is growing and growing, real wages are down. Good luck buying a house in a good area if you don't earn 6 figures+

      • baldur on 22/05/2021 - 15:31
        +2

        It bothers me too. The most crucial human need is so hard to access for so many people.

        • serpserpserp on 22/05/2021 - 18:29

          The most crucial human need is so hard to access for so many people.

          We all don't need to buy a house in whatever the wealthy suburbs are near us. I don't think the location is crucial.

          Most people could buy a house in 99.5% of most of the land mass in the country.

  • TEER3X on 22/05/2021 - 14:47

    Looks like a dead cat bounce, may be some further pain…. Who knows what will happen if 30k is breached, might go crashing down even further.

    Lot of leveraged folk are probably farked.

    • JelIyfish on 22/05/2021 - 15:50

      There are similarities to last years meme stock bubbles but mainstream.

      I believe we will hear stories of leveraged 20-something year olds bankrupting themselves, or even worse.

  • ely on 22/05/2021 - 14:58
    -2

    Wouldn't touch it even with someone else's money.

  • rektrading on 22/05/2021 - 16:08

    Setting aside a few ks for when it wicks down to 20k could be the best trade this year.

    • tajid on 22/05/2021 - 16:28
      +5

      Your username doesn't give anyone much confidence reading this.

  • MontyMacaw on 22/05/2021 - 21:50
    -1

    As the dirty power argument continues you can expect crypto’s to fall from grace further. Bitcoin alone uses more power than a small
    Country. That is counter to the world narrative on climate change. Renewables are not producing enough energy to reverse this sentiment. As the price rose more and more people with less efficient mining machines increased power consumption exponentially. Something that makes money is supposed to be productive. Crypto doesn’t produce anything yet except a carbon footprint on a massive scale..

  • darkmattersunB6c0MV on 22/05/2021 - 21:56
    +1

    We are still in the infancy for cryptocurrency.
    Wait a few years, and the volatility will reduce.
    The people who invested are going to laugh all the way to the bank.

    Most people are better off even with the crash.
    History supports the fact that after each crash, crypto have come back stronger and better.
    If it actually falls to USD 20k, I am definately buying more.
    Minimise your risks by having majority in BTC and ETH, and play only with the rest (<20% of your holdings).
    Never buy because of FOMO and never panic sell.

    • Blargman2001 on 22/05/2021 - 22:07

      It's been almost 13 years already. Bitcoin and Ether are behaving just like any other asset class. Hell even Safemoon can't hold its value. Volatility will always be there with crypto. Have you ever heard the saying "if everything stays the same, everything stays the same"

      • hornbill on 22/05/2021 - 23:10

        Even Safemoon?! I didn't think of Safemoon when I hoped for stability but Cumrocket, now that is the one crypto that will surely stabilise. Mark my words (not financial advice).

        • Blargman2001 on 22/05/2021 - 23:31

          Apart from the possible scam that the owners are just using it as a get rich quick scheme, I always thought Safemoon discouraged day trading by punishing sellers and encouraging you to HODL.

          • darkmattersunB6c0MV on 23/05/2021 - 07:42

            @Blargman2001: You are right.
            But please note, when only less than 5% (1.38%) people have crypto currency (106 million worldwide out of a population of 7.674 billion- I know that there are lots of non adult, hence 5%), it is still in its infancy.

            The people who get burned by the cryto volatility are the ones who miss out and get eaten by the whales.

            BTW, safemoon is a scam, but a lot of fanbois.
            Invest in something safe, otherwise you will bear the consequences.

      • umoddbro on 23/05/2021 - 10:38

        Safemoon is the biggest ponzi scheme goodluck man

        • Blargman2001 on 23/05/2021 - 14:08

          No, I don't hold Safemoon. Just using it as an example of something that is obviously rigged to prevent it falling, yet it still fluctuates like crazy.

  • Aerith-Waifu on 22/05/2021 - 22:44
    +1

    Here is my recent performance on the Crypto:

    BTT $0.011493 x 44444, now $0.005185, Drop of 55%, around $230 paper lose
    ETC $175.72 x 2, now $82.76, Drop of 53%, around $190 paper lose
    GO $0.077129 x 2222, now $0.0425, drop of 45%, around $75 paper lose
    ADA $2.2488 x 100, now $2.0468, drop of 9%, around $15 paper lose
    SHID $0.0000394 x 6666666, now $0.00001015, drop of 74%, around $192 paper lose
    TEL $0.054652 x 22222, now $0.039534, drop of 27%, around $323 paper lose

    Total in $3000, now around $1825 worth.

    How did I go? Did beat the market (in terms of drop) or did I over performing? (In terms of drop?)

    Plan is to add another $7000 from now till the end of this year, never to sell any of them and unless its life changing money (between 800k and above) will not cash out. Some of you may think $800k isnt life changing, for me its more than enough for me to retire with part time employment.

    Also will add: VET, MATIC, XLM, POWER and more ADA to the portfolio.

    • magster on 22/05/2021 - 23:58
      +2

      Not sure if you are joking or not.. but for 8k ish investment to grow to 800k+, you will need 100x growth on your portfolio. Which is really far-fetched unless you bought at the bottom of the cycle (like last year sometimes). Buying in around this point, you will be lucky to gain 2-5x, if the market recovers and the bull run continues.. Just trying to be realistic for you.

      • Aerith-Waifu on 23/05/2021 - 00:41
        +2

        Yeah thanks for the advice. I am not joking at all. $1000 per month for the next 7 months.

        100times is not impossible in the crypto world.

        Al it really needs is for one of the coin to go moon to achieve the result. Happy to hold for 10+ years for it. Worse case? I lose the whole lot. But very unlikely, there is always some value left regardless if you look back at 2018. Lots of patience here.

        • TEER3X on 23/05/2021 - 08:20
          +3

          Maybe look for the next big thing, you're way too late to the party

          • Aerith-Waifu on 23/05/2021 - 22:30
            +1

            @TEER3X: Time is my friend. By the way "happy" to report my $1800 holding is now worth only $1390 with today's drop.

            Once it falls to $500. I will get another $1000 to $2000 worth.

            Plenty time for me with this long game

            • Aerith-Waifu on 23/05/2021 - 23:33

              @Aerith-Waifu: Sorry I mean my $3000 is now worth $1390…..were…..it's $1280 now…….won't be long till it hits $500 I guess

              • jjjjon on 24/05/2021 - 12:01

                @Aerith-Waifu: Yeah my advice would be to hold if you can afford to…I bought the bulk of my portfolio in 2017 when things were pretty high..Then it all went downhill and my $3000 went to about $900 for 3 years…..A few people I know sold for pretty big losses..I thought no point selling when I've lost that much already so just held and barely bothered to even check my account. Then I bought some bitcoin when it was around $9000…( I bought about $400 worth).A few weeks back my portfolio was over $15000 would have been higher but I'd cashed out bits of Cardano,Ethereum and Bitcoin along the way…Now it's back to around $8600 so I'm still in front but annoying when you lose that much in a few weeks..haha

    • rakerr on 23/05/2021 - 17:44

      Why would you buy ETC?

      • Aerith-Waifu on 23/05/2021 - 22:34

        That was my mistake, I thought I was buying Eth……..rookie mistake

  • Snatcher on 23/05/2021 - 07:26

    I love a good Salsa dip!

  • Talsek on 23/05/2021 - 12:14
    +2

    I had some 3X long tokens for ETH,ADA,COSMOS and XRP sitting for a week before the crash (because I had some money on a exchange that specialised in futures tokens,I thought why not) . I didn't really check my portfolio for about a week because I was extremely busy with work and had a cold.

    Came back a few days ago to a 4k something USD portfolio reduced to $150 :^)

    At this point crypto has already paid for plenty in my life,I've been withdrawing 5-8k intermittently to cover life expenses and am probably up around 500% since I got back into it early last year (more so if I take into account when I initially got into it in 2017,unfortunately I only had a few hundred to throw into it at the time).

    I've just left the other half of my portfolio on Binance in ADA,XRP and COSMOS. Hopefully I come back in a few years and discover I suddenly have a house deposit :)

    • TEER3X on 23/05/2021 - 20:16

      Are you serious?

      Don't leave it on an exchange, unless it's a piddly amount.

      Move it to a hardware wallet.

      You could do back and it's all stolen, and btc could hit $500k in 5 years and you'll have nothing to show for it.

      • Heracles26 on 23/05/2021 - 20:37

        What's a good wallet to buy?

        • AncientWisdom on 28/05/2021 - 02:04

          Trezor or Ledger are the most commonly recommended

  • Ughhh on 23/05/2021 - 18:11

    I put a tiny amount into Matic at $1.61 this morning, now it's at $1.37. Fk me.
    Respect to all the day traders out there, I couldn't do it.

    • BuDWiZe on 23/05/2021 - 18:26

      Its dropped heaps i would wait till see things going up and will still be a bargain

    • gembel on 23/05/2021 - 18:50

      Still going down :(

  • Sandman09876 on 23/05/2021 - 19:22
    +1

    I made my first foray into the cryptomarket last week.
    The next day, China made their announcement.
    I’ve lost 50% of my investment.
    In saying that, my investment was only $150 so I can’t whinge too much.

  • rektrading on 23/05/2021 - 20:02
    -2

    A 50% drawdown isn't a 50% loss. It's a historical measure of the performance of the asset over time.

    A loss occurs when you exit your position at price relative to the entry price depending on the trade (long vs short).

    • watwatwat on 23/05/2021 - 20:28

      A 50% drawdown isn't a 50% loss.

      It is in money terms.

      A loss occurs when you exit your position at price relative to the entry price

      Ok so all the bitconnect never lost anything as they didn't sell, right?

  • rektrading on 23/05/2021 - 20:37

    A loss due to fraud isn't the same as a loss from a trade.

    • NigelTufnel on 23/05/2021 - 20:58

      It's a loss of your wealth. If my house value drops 50% from when I bought. I won't make a loss unless I sell, but my wealth has certainly taken a hit.

  • trevor99 on 23/05/2021 - 21:29
    +2

    Crypto is a nice idea to escape the crooked fiat currency system.

    However, it's price depends only on how much the next guy will pay as it has no value otherwise.

    Good luck.

  • imcold on 23/05/2021 - 21:49

    Well I don't think the market has bottomed out yet. I think a fall back to prices seen in January 2021 is in the books. There seems to be a co-ordinated effort to crash crypto prices.

    • plmko on 24/05/2021 - 01:19

      It is, many funds are putting up short positions but have no requirement to disclose as crypto is not a security.

  • rektrading on 23/05/2021 - 22:12

    There is a CME gap at $20.9k and $23.6k. BTC also never retested the $20k breakout.

    There is $14Bn on CEX waiting to buy the retest.

  • cute as duck on 23/05/2021 - 23:39

    Crypto is in free fall. I have liquidated to safe guard my earlier gains. Ethereum dipped below US1900 and Bitcoin US32K. Will reassess tomorrow or until floor is reached.

    • sal78 on 24/05/2021 - 07:42

      My friend bought Eth at $10. I should have bought at $170

      My friend went to school with Gavin Wood. They are good friends.

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