Would really appreciate your opinion

Discussion in 'Learn how to trade or invest by asking questions' started by J26, Jul 10, 2017.

  1. J26

    J26 New Member

    A few months ago i began investing in cryptocurrency, and turned $1000 into $26,000 over an 80 day period trading ripple, zcash, ethereum, pivx, melon, iconomi, augur, and stratis. More recently ive added tenx, digibyte, and gamecredits.
    Made a 4700% return on ripple in may, and routinely 150-200% returns in some others on a weekly/bi-weekly basis.

    On jan 2017 the entire cryptocurrency marketcap was $18 billion, and early june reached $115 billion. You can take a look here http://coinmarketcap.com/charts/
    Since the high in early june its had 4 retracements of approx. $25-30 billion over a 2-3 day span, and each time it has returned to the $110-115 billion range in 2-3 days.
    Except over the past 2 weeks, we are seeing a steady decline into a new low of $84 billion today. This is related to a potential signifigant tech update for bitcoin, which is necessary to allow for much faster transaction speed, and lower transaction fees.
    Problem is its creating a wave of fear in the market right now because bitcoin is paired with all other cryptos, and when bitcoin goes down it pulls most others with it.

    Having said that i would really appreciate any insight you might have in comparrison to the stock market. Do you routinely see similar circumstances effecting the market as a whole? Any advice on judging how low we might see the market go until the bitcoin update is complete? And any opinions on the crypto market in general?
    Do any of you hold any positions in crypto? Do you stick with the top 5-10, or do you ever venture into ico's? If not have you considered getting into it? If not would you mind sharing your reasons? Are you noticing more and more traditional stock traders talking about crypto, and adding it to their portfolio?
    Im waiting to see if the market gets dragged down more or not, but soon as it seems to have found its low i plan to invest another few grand because the potential is huge considering when the market even just returns to its average high $110-115 billion when the bitcoin issue is sorted out end of july im likely to see 30-50% returns overall again.
    Its just difficult to guess how low it might go.
    For anyone that isnt aware how to get into crypto, i use kraken, bittrex and coinbase and there are other great exchanges too. Each of these has about a 1 week verification process so if you have plans to take advantage of the new lows its best to start sooner than later.
    Im not in the stock market yet, but im planning to in the near future. Do you recommend trading view, or other? Any advice on where to start?

    Thanks for taking the time here.
     
  2. Doodman

    Doodman Member won penny contest 7x won weekly contest 3x

    You are at the mercy of that market. There is no way to know bitcoin is going to go up. Look into options, you can control your risk better.
     
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