Bitcoin drop

With BTC dominance at

BTC+BCH is going up

Got nothing in btc, still my alts are falling like flies in estimated value

?!?!!?

Do I chad hodl or do I exit?

>eth or litecoin
lol
ETH is the only one that can do it

It's simple Padawans, this market follows a pattern. When bitcoin is sideways and not moving, people sell their bitcoins for tethers
and/or alt coins to increase their positions in said alt coins and to hedge against the inevitable bitcoin drop. When bitcoin starts dropping, people sell their altcoins for tethers to hold their $1 value each and then rebuy bitcoin on the dip. As people buy bitcoins on the dip, the price rises. Those who don't catch the pattern early start seeing the bitcoin value rise will then sell their altcoins/tethers for bitcoin, thus causing the value of alts to drop while bitcoin goes up further.

As a result, as bitcoin falls, alts lose value.
If bitcoin rises, alts gain value.
If bitcoin does nothing, alts rise in value.

Ooops, mistyped.

As bitcoin falls, alts lose value, as bitcoin rises alts lose value and if bitcoin goes sideways alts gain value.

>5 day SMA is falling hard compared to 13 day and 50 day MA's.

Just that you know ma is not some magic indicator, it's just open,close, high, low or h+l etc. closing price averaged

>once eth or litecoin hits 30% or more of BTC's marketcap

You cannot be this stupid - ETH and LTC are losing dominance just as much brainlet, it's all the myriad new coins.

Urgh disgusting.

This

Probably, yes.

True, but it gives a good idea of the direction of the market, plus those who use bots for their trading often use SMA's as buy/sell indicators.

> Padawans

Is dragonchain top tier ICO buy?

The ICO sold at 6 cents and I was super salty that I missed it. I did manage to scoop a bunch up at 44 cents about 12 days ago. I'm sitting comfy right now. If you check their white paper they're going to be doing big things in 2108 and it's a solid hold.

What about XRP?

What ICO to buy cryptobro? I keep missing the moon.

ETH is dead, dumb nigger. Enjoy holding your ponzi bags you bought at ATH.

I’m sorry but I can’t do the 90 year Chad HODL

DRGN is still an extremely extremely solid play. It was on etherdelta for about a month and went from 24 cents to 44. Once listed on kucoin and tidex (extremely tiny exchanges), it shot up to $1.20. Once it get listed on bittrex and binanace it will go absolutely parabolic. It's guaranteed safe solid gains throughout 2018. Just buy and hold and sell either september 2018 or october 2018.

I don't have any solid brand new ICO's for you at the moment, but when i do, i'll be sure to post here on Veeky Forums.

I can only show you where the gold it, I can't force you to mine it. Good luck to you then sir.

Yep I've definitely noticed this over the months. The only times alts run is when bitcoin is stagnant

>tfw just bought my first bitcoins

Did i fuck up lads? I felt pretty good that i finally managed to stop being a nocoiner

Cryptobro please help

I used to have 120LTC, the tge past two weeks I'm down to 0.93BTC. How should I play the next few days/weeks?

This, OP makes it sound like its a big deal.
If there were a few nice green candles the 5 day MA would be up in no time.

Just watch supports.

If we break 17k the next one is around 16k

5 day moving average dropping like a brick might mean something OP, if you can prove that there's strong serial autocorrelation over that lag order. Since you haven't provided anything beyond a chart, your conclusions are pretty much fucking useless

Is*

>Did i fuck up lads?

Ask yourself that question when it reaches 100k next year

Well, the first thing I need to know is exactly how you put yourself in that predicament. If it's the result of pump buying then panic selling when the price drops then that's something you're going to have to be extremely disciplined about.

Tell me more about the trading habits that led you to this point.

>shilling panic selling this hard in an attempt to crash BTC

If people could "prove" things about the stock market, everyone would be billionaires. We can only speculate and use indicators to increase our chance of success.

>being retarded enough to think that the total selling power of all of biz, even on margin, could crash bitcoin.

Thanks, bro. I'll look into it asap. Also, what would you recommend in the coming days if BTC price is really going to drop that much? Waiting in fiat for the market to cool down?

>implying it is not the mindset spread across the internet that matters
>implying that you know who browses Veeky Forums or how rich the idiots on here can be

Is it wise to sell off your alts though to park them in Tether?

This market is so volatile, my alts might lose 10% bleeding in this bear market while BTC falls but then shoot up 50% for some reason.

I'm always tempted to try and park my gains but I've been burned before (missed out on REQ and ChainLink moonings while holding BTC thinking it was about to bull).

It's probably only advisable if you daytrade and watch the markets 24/7.

Why are all my alts dropping?

Did I fuck up by trading with ETH?

cryptobro we turn to you when times seem tough

refer to

Yeah, you are missing the point dumdum.
I'm not talking about "proving" your prediction, I'm talking about somehow backing up your analysis. Do you even understand what you are fucking charting and implying there?
For MA to mean anything beyond smoothing a line you need to throw in some additional thought. If you can establish strong autocorrelation (for example by calculating the Hurst exponent) over that lag order then you might be able to say "There's mean reversion happening and the trend is pointing downwards here".
Doesn't mean its gonna be a correct prediction, but at least its backed by rational thought.
Remember not everybody is a dumbfuck on this board.

I bought all those LTC 25-45 a piece, average buy is 42/coin for those 120. So wjen i saw the price jump to 120s i thought i could safely sell my stack and rebuy in low 110s. I got fucked and fought hard not FOMOing out and dumped into BTC at around 15000 when LTC was in mid 300s, I was expecting a drop below 200

Honestly all I really want is for the ratio to drop to 0.0077 for me to break even and get my litecoin back. I'm pretty salty despite my gains

If you see bitcoin getting ready to drop, then yes. You can sell your alts for tether, but bitcoin with tether on the dip. When the trend reverses, buy bitcoin. Sell bitcoin at the peak, put into tether and/or alts. Rinse and repeat.

Do we exit into USTD/fiat right now, if your prediction is right? Or should we weather the storm in alts?

So I've just holding my 2 BTC on Binance right now like a pleb, whats the best course of action? Sell into Tether, BCH, LTC, or ETH?

If you find a coin that has low volume, then you can stay in that coin. If you have an alt with high volume, then move it because other people are going to move it and the price will drop.

You seem to have the right idea. Just remember to be patient and not get greedy. Why risk a 30% loss for an extra 5% gain when you can be safe and get fat returns based off of big moves.

Alts crash because people keep thinking if BTC crashes everything crashes so they sell. Now you know genius. If you do want it to crash you have to HOLD IT.

>bitcoin goes down
>everyone sells their altcoins for btc on the smaller exchanges
>btc tanks further
>they abandon ship back into alts
>they buy their coins back from me at a higher price
Why do people give me their money?

If you leave it too late like I have what to do, just wait for it to recover? ETH was already up 15% by the time I realised

The correction has just begun. MACD about to flip on the 1D. This can go as low as 14-15 but obviously then we are going back to 20-25 by EOY, so I'm not fear mongering.

I'll be scaling in all week. Bought a bit at 16.5k on Binance this morning.

Ok that's a bit reassuring. I still can't believe i had months of patience since may holding my LTC only to go full retard at literally tge worst time possible.

I just worry that a year from now, i might be beating myself up by not FOMOing into LTC literally right now. But then again, I'm sorta confident on the ratio getting back in order

Go into Tether and buy in when trend shifts. We should probably hit $16k or below later today.

So good idea to exit into USD now?

underated and unironically true

You should have taken profits of alts by now, everything is retracing already (not crashing, but just retracing). You can do whatever you want, but the facts are that it is dipping now, and will be mooning later. This wont ever crash below 12k again because demand is simply too high and the normie mania has begun. My advice is to scale in - just buy small amounts at every dip today. set a buy order at the upper 14k and 15k range.

Is Tether safe though? All i hear is that its a scam and i really don't want to risk my tiny gains

You really think we're going past 17-16k? I might just sell and set the orders

Until of course bitcoin totally and absolutely crashes for good. But yes you're right.

B-but that won't happen, r-right?

there is literally not a single living soul in this world that can give you this answer and anybody who tries to is a liar you gullible little boy

Bitcoin has no inherent value. It was originally created as a decentralized peer to peer means of exchange. Since it can only process 7 transactions per second and now the whole world is getting in on it, the price has skyrocketed per transaction (in the range of $27+). Its value is completely destroyed. It's only propped up so much because of the hype and the mainstream money coming in.

Stop talking out your ass.

>I know with absolute certainty where bitcoin will be in 6 months, 1 year, 3 years and 5 years down the road!

>Doesn't actually read what I said.

I love Bitcoin, but this nocoiner is damn right. Mining in China right now is about 4k USD/BTC. The current market price is completely overvalued. I think January is going to be a blood bath for many people here.

probably Christmas shopping effect

omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

50 million new tethers. This FUD is a nothingburger.

We need a billion more to really go somewhere

CryptoBro plz help a wretched nocoiner, is Binance a good exchange to get started with?

Then you need to make a market to bring a billion into the alt coin. Bitcoin has actual marketspace, I'm waiting for you guys to catch up.

>lrn2storefront
>lrn2business

Capital is there and there's only so much pair action you can do without building a marketplace that sells goods in the crypto denominations. Otherwise the BTC price action is meaningless, up/down/left/right...meh. The pairing right now it tethered to fiat priced goods and oil capital transfers. Someone needs to step up and go knock on the door of someone in the food commodity business and make a 'banana coin for bananas so there is an asset backing the alt by going around the brokers to cut out the ridiculous over head the middle men 'add value' with.

>lrn2cutoutbrokers

>he doesn't have $2000 worth of LTC sitting in his coinbase wallet
pleb

Fuck, I'm sitting on $2000 in bitcoins on a local wallet and can't sell because every exchange wants to take 2 weeks to verify my drivers license.

>suggesting we not only seize the means of finance but seize our food as well

Get out of here Hitler! Next you'll wanna round up the kikes and gas them for real this time.

If you're just trying to swing trade against a dip, get on an exchange like Binance and trade into USDT

Sell and keep the virtual fiat until they verify you.

Yes, binance is good but you need to obviously use a fiat onramp like coinbase. Don't just limit yourself to 1 exchange though. Sometimes the exchanges get really shitty. On top of that, if you have your money spread out on multiple different exchanges you can take advantage of arbitrage opportunities.

If i remember correctly, binance lets you deposit up to 2 bitcoins without a drivers license verification.

I have coinbase and am in the US, what other exchanges should I play with for arbitrage?

Bitcoin is a joke. 2559 hours for a small transaction combined with an outrageous fee. What is it about again?

Oh fuck, I think we are gonna crash today keks

>bitcoin price drops
>moving average drops

wow tell me more god of TA

You need to use whatever exchanges do lots of volume in trading. If you go to coinbase and click on the "market" tab you can see what exchanges do what kind of volume.

Link related coinmarketcap.com/currencies/bitcoin/#markets

>CryptoBro
Get on my level cuck. We are only going up.

>can't buy muh coffee with bitcoin so ded
You literally don't know shit about bitcoin. Seriously, kys.

I'm not in the business of competing with strangers on an anime imageboard.

Also, I didn't say that bitcoin was going to crash now or soon, i'm just noting that btc is taking a dip while at the same time helping out people new to crypto.

You think the fundamentals of bitcoin are flawed because "muh fees", yet you see yourself in the position to make price calls based on TA. Please go pick another hobby.

I'll set up an octagon.

Nothing has inherent value, value is a social construct. Even water technically has no inherent value because it is entirely connected to the availability and the demand, i.e. the value of water in the desert will be greater than in the rainforest.

This whole 'bitcoin has no intrinsic value' meme needs to die, it's a meaningless truism and hinders genuine conversation.

>Why are all my alts dropping
>Every major alt still up like 15%

???

If you guys listened to those pretentious market gods you'd have sold at 4k already.

Everytime btc drops 5% some guy panic sells, then tries to convince himself he was right so makes a thread.

>moving average goes down when price falls
>this means it's gonna crash
AHAHAHAHAHAHAHAHAHAHAHAHAHAH

I'm quite sure you're a troll trying to make lurkers sell at the bottom while laughing your ass off when it goes up again.

Bitcoin has 2 theoretical use cases.

1. It can be used as a currency between peers to transfer goods and/or services. This was feasible when the fees were virtually nonexistent. Considering that it is $27+ per transaction, it makes the use of bitcoin as a means of exchange impractical and obsolete.

2. Bitcoin could be theoretically used as a store of value. For example, in the event that a country starts to default and people know that their country will start printing money like mad in order to get themselves out of debt, people may just try to change their fiat into bitcoin to retain their purchasing value as individuals. It's a possibility, but considering how volatile the price of bticoin is, that's unlikely to happen in any permanent sense.

In the future though, there might just be a cryptocurrency of some sort to have that store of value, who knows.

The only reason I'm responding by the way is for new people to crypto who are lurking to read and learn. All of your responses are very troll-like and I honestly don't take you seriously.

i took my alt coin profit yesterday. don't like USDT (scamcoin) but it's better than cashing out with fees/taxes.

very reasonable advice, preserve your gains since btc is not holding, eth at ATH. buy back in at a lower entry point.

You're correct in that value is a social construct of sorts. The value of something is quite literally what somebody is willing to pay for it. From a philosophical standpoint, sure, people could theoretically perceive bitcoin to have some amazing value when in reality it has no utility.

When you think pragmatically, it's very easy to come up with a duplicate coin that can do everything bitcoin does, but even better. While people may still hold on to bitcoin for awhile after that, its relative value will fade over time as more people recognize that bitcoin has no utility, and that it's replacement coin can do everything bitcoin can and then some.