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Bitcoin and other Crypto...


Spy Bee
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Ethereum has dipped below £450. Thank fuck I cashed out this morning. Might be able to get 2 full coins at this rate.

Yip. This volatility is linked to China who are pissed at Trump for be so aggressive with his anti free trade and tax policies.

 

Stock market is plummeting too. I’m holding US $$$ but I’m not even sure how stable THAT is !!!

 

Basically, I’d be happy to see ETH go to 1.00 right now. I’d have a shitload.

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For what it’s worth, here’s a summary of the current crypto situation, by a high flying mate of mine over in Aussie. He’s been mining and investing in crypto for 3-4 yrs:-

 

Bitcoin Correction.

(Image courtesy of Reddit.com)

 

HIGHLIGHTS:

Down 64.5% since December 17, 2017.

Combined market capitalization $338 billion.

 

KEY POINT:

Bitcoin has died 251 times.

Resurrected 251 times.

 

FEAR MONGERING.

Regulation is the trigger, clampdowns in Korea, USA and India have been sold as THE END OF BITCOIN, when in fact, governance for long term stability of Cryptocurrency is being put in place. Both the mainstream media and the criminals evading tax are responsible for fear mongering, state vs bitcoin.

 

WHO DOES THIS IMPACT?

Short term traders will fail.

Long term HODLers will succeed.

 

2017 has been the most deadly with 109 stories proclaiming the end of bitcoin.

 

LENSE ON REGULATION.

 

USA

Bitfinex vs US Commodity Futures Trading Commission. Exchange site offers users an option to tether their currency to the American dollar. Bitfinex nor Tether can prove they have enough money in bank accounts to back up the USDT token.

 

INDIA

India tax crack down on traders. Estimates that $3.5 billion in transactions has found its way through India in the last 17 months leading into 2018.

 

SOUTH KOREA

South Korean traders must now use their real names.

 

WHEN WILL THE CRASH END?

Finding Rock Bottom

Bitcoin’s worst crash lasted 411 days, ending in January of 2015. Bitcoin’s price plummeting 87%.

 

OVERALL IMPACTS

- Increased regulation will result in stability long term.

- Bad news for short-term investors.

- Good news for long-term investors.

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If it's any consolation to all you crypto folks, I took a bit of a hit on my traditional stocks and shares at the back end of last week and the start of this week.

 

It all looked quite hairy on Monday, so I flogged them all and took about a £100 hit. They dropped even more today. Slags!

 

I'm sticking to the speculative £1 mega accumulators on the footie now instead.

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This was announced in December, so I can't see it having any major impact on the price immediately.

 

So the chart reading nerds say that this period of relative stability is good, and if it holds for a week or two before we get the increase, it's more likely to be a stable increase (stable as far as crypto goes).

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This was announced in December, so I can't see it having any major impact on the price immediately.

 

So the chart reading nerds say that this period of relative stability is good, and if it holds for a week or two before we get the increase, it's more likely to be a stable increase (stable as far as crypto goes).

Immediate rises no; more a confirmation of mainstream adoption medium term. For the naysayers who still think crypto is a scam or a joke or a ponzi, or, all of the above.
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