Why so @Spidey?
Can Ripple stock actually be bought? Leaving the coins aside the actual technology they have developed looks like its going to be the back bone of alot of finance houses
Now is the time to buy lads…
I’m balls deep in Ethereum. Do I sell now or what?
It allowed investors to short Bitcoin through the use of futures
Heard a pretty reliable story over the weekend of an Irish lad with €60k invested in cryptocurrencies. It’s “value” at this stage was about 300-400k but he want to hang on until he hits a million.
Mad stuff.
I’ve a mate that has at least that much if not more. Loans taken out, credit cards maxed etc. He’s in it from a long way back so I’d say he’s well onside even still, but he’s gone way past bitcoin now into these ICOs which look like absolute insanity, to me anyway. He won’t sell though, I know he won’t he really believes this is the dawn of a new age and that he’ll be retiring in a couple of years
You’d spend all day long monitoring the prices. Drops like today must be some panic if you’ve everything on the line for it.
You keep it and you wait until 2020 when it hits €20k. Get double your stake back and leave it and withdraw an annual premium as you go. I am heavily invested in Ethereum and Litecoin and I may go in and get more Litecoin today.
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A real scenario where people get nervous and sell at any drop, they drive it down to the point where all the penny pinchers take a 30% hit and the coin bounces back. It is happening on a weekly basis.
This hasn’t happened in 6 weeks.
It happened two or three weeks ago when Ethereum went on a run. You could purchase Ethereum for just over €400 and Litecoin for €105.
The smart money has exited Bitcoin and is going into “safer” equities, fueling the parabolic rise we are seeing in markets.
This will not end well.
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The entire market cap of bitcoin even at it’s peak was $320bn, assuming a quarter of that was “smart money” and was somehow taken out of the market at it’s very peak (which is impossible given the amount of trade in it on a daily basis), then it was $80bn. The Nasdaq has a market cap of about $20 trillion, so if even if the whole lot was put into the Nasdaq it wouldn’t even register as a blip. The market cap of the Nasdaq regularly moves more in a day than the entire value of bitcoin combined.
Equities might be expensive, but it has literally nothing to do with a move from bitcoin.
For me this is whats interesting. The % of the overall market cap of crypto’s. Basically people moving away from bitcoin to buy other shite. Essentially we’ve missed the run in bitcoin lets see can we get into the “next” bitcoin. A good indicator of a bubble. We’ve missed the Dublin property market run, lets invest in Carlow or Longford instead.
It’s got the dot.com all over it.
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In a normal market the above may be true. We are in a parabolic blow off top, so all pressure is to the upside and any new money entering the market has a pronounced effect. Market cap is irrelevant, as long as market participants are unwilling to sell and new money wants to buy, the price can only go up. The recent run up is on moderate volume, which tells you the smart (institutional) money is getting out and being replaced by the dumb (retail) money, same as as it ever was.
I wouldn’t be a buyer myself mate. Not in the US anyway. Yield curve kicking out finally will start to make equities look expensive soon, if it continues. Trumps tax plan will be very earnings positive though in the medium term. Classic Republicans widening the deficit
If there’s one thing that could derail the market, and fast, it’s corporate earnings not benefiting from the tax plan. The thing is, most of the largest corporations pay about 21% already, due to loopholes, breaks, and deferring offshore profits. Many of them, like the GE cunts, pay nothing. The expected ramp in corporate earnings may never materialize.
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Presumably one could hedge the other way also?
Dead cat bounce about to happen.