Cryptocoin Value and Market Trend Discussion

[Metroid]

The part I didn't buy was the crash to zero. No one was calling you on the other crap being impossible, just that it was impossible you could've known. Still is.

I never said the crash to 0, I said and predicted the crash to be 80% or more just like 2011, 2014 and 2018. Maybe I said crash to 0 regarding scamcoins known as 99% of all altcoins, that yes.

 

[R-T-B]

I said and predicted the crash to be 80% or more

That must be what I was remembering. Genuine apologies for misconstruing what you said.

 

[dragontamer5788]

RIP Voyager customers.

Adding them to the list now... Celsius, Voyager, 3AC... a few other smaller exchanges too.

 

[Bomby569]

RIP Voyager customers.

Adding them to the list now... Celsius, Voyager, 3AC... a few other smaller exchanges too.

distrust settled in, now it's a snowball

 

[lexluthermiester]

Things seem to have stabilized this week.

 

[Bomby569]

Things seem to have stabilized this week.

we are going down in slopes, this is one more, the trend is still down

 

[lexluthermiester]

No it hasn't. BTC has been hovering right around $20k for 3 weeks with ETH hovering around $1200 and this week the rollercoastering seems to have leveled off.

 

[dragontamer5788]

Things seem to have stabilized this week.

In terms of dollar value, yes (or maybe, depending on how you perform your moving averages. Things are trending down on both SMA50 and SMA200 for example, but I can see a short enough reasonable SMA means it is stable today... like SMA7 or so). But with Voyager and Vauld announcing suspensions, the crypto-calamity for people continues to get worse in practice.

Its not good for crypto-coin customers to lose all of their holdings at American-based companies ("With FDIC Insurance", with fine print of course that didn't apply to the cryptocoin holdings. But I'm sure that tricked enough people into thinking that Voyager was safe).

This suspension / loss of accounts issue is far more serious than the price action. (if anything: preventing withdrawals will "save" the cryptocoin price, because the customers aren't allowed to sell anymore. Being forced to use this strategy to stop the bleeding only demonstrates the gross difficulty the stablecoin community is facing right now).

 

[lexluthermiester]

In terms of dollar value, yes (or maybe, depending on how you perform your moving averages. Things are trending down on both SMA50 and SMA200 for example, but I can see a short enough reasonable SMA means it is stable today... like SMA7 or so). But with Voyager and Vauld announcing suspensions, the crypto-calamity for people continues to get worse in practice.

Its not good for crypto-coin customers to lose all of their holdings at American-based companies ("With FDIC Insurance", with fine print of course that didn't apply to the cryptocoin holdings. But I'm sure that tricked enough people into thinking that Voyager was safe).

This suspension / loss of accounts issue is far more serious than the price action. (if anything: preventing withdrawals will "save" the cryptocoin price, because the customers aren't allowed to sell anymore. Being forced to use this strategy to stop the bleeding only demonstrates the gross difficulty the stablecoin community is facing right now).

I'm talking about any of that. I'm talking about actual value and the market trend, which is the topic of the thread. Take your off topic comments to the other thread where they belong, specifically here.

 

[Bomby569]

No it hasn't. BTC has been hovering right around $20k for 3 weeks with ETH hovering around $1200 and this week the rollercoastering seems to have leveled off.

sure mate whatever

 

[lexluthermiester]

View attachment 253688

sure mate whatever

I said 3 WEEKS not 3 months.

Would you like to revise your statement? Hmm?

 

[Bomby569]

3 WEEKS not 3 months. Would you like to revise your statement? Hmm?

then i said the trend is still down, and then you said no it hasn't. Then i showed you were wrong, then you backtracked on the conversation, and now here we are. Quoting myself, sure mate whatever

 

[lexluthermiester]

then i said the trend is still down, and then you said no it hasn't.

That's because it isn't down since the crash in June. It's been hovering around $20,000, which is what I stated.

Then i showed you were wrong

No you didn't, you showed a 3 MONTH figure. I said 3 WEEKS.

then you backtracked on the conversation

No, YOU failed to understand what was stated. Context is important, as is reading comprehension. Try them sometime. Also, see edit above.

 

[Bomby569]

wtf is wrong with you, it's just as stable as it was on the last 2 slopes The trend is down period, your wrong and i wont discuss reality with you

 

[lexluthermiester]

wtf is wrong with you, it's just as stable as it was on the last 2 slopes The trend is down period, your wrong and i wont discuss reality with you

Yup, sure.

 

[ppn]

Just doing this evanescent waves thing. proves how the whole thing is run by the trading robots that expect to see 5% change and act accordingly to make a profit, but can't keep doing it because they are all trying to do the same thing. But overall is it more likely for it to jump to the moon or gradually rollback to a stoploss.

 

[dragontamer5788]

View attachment 253688

This really demonstrates the psychology behind pricing.

People like sticking with simple, round numbers. Furthermore, if you can "feel" the psychology behind the community, you can predict the price moving forward.

This is why the closures at Vauld, Voyager, Celsius... and potential closures elsewhere around the world, are important. We need to track the psychology of cryptocoin / stablecoin holders if you hope to predict the future. As long as BTC tends to "stick to barriers and/or resistance points" (40k, 30k, and 20k round numbers), the only real action we're going to get is psychological and community feel instead. And then it will randomly jerk in one direction after enough psychology / opinions are changed.

 

[Bomby569]

This really demonstrates the psychology behind pricing.

People like sticking with simple, round numbers. Furthermore, if you can "feel" the psychology behind the community, you can predict the price moving forward.

This is why the closures at Vauld, Voyager, Celsius... and potential closures elsewhere around the world, are important. We need to track the psychology of cryptocoin / stablecoin holders if you hope to predict the future. As long as BTC tends to "stick to barriers and/or resistance points" (40k, 30k, and 20k round numbers), the only real action we're going to get is psychological and community feel instead. And then it will randomly jerk in one direction after enough psychology / opinions are changed.

This is not crypto exclusive, if you do this to every stock, forex, commodities they all follow these patterns inside the trend. You can either be in it for the real LONG time or the only way to make money is to follow these patterns. ANY market will always have an enormous component of pure speculation. Unless it is something absolutely extraordinary nothing goes up on down on a single continuous line.
There is always money to be make going up or down, and people are doing it, never forget that.

 

[dragontamer5788]

Mt.Gox Trustee Will Repay 150,000 BTC Lost by Users in 2014 When 1 BTC was $320 - Tokenist

Mt. Gox's trustee would soon distribute 150,000 BTC to the exchange's creditors, a move that could possibly halt BTC's recent gains.

tokenist.com

That saga is nearing its end. For all we know, the 150,000 BTC selling off was the start to this entire cryptocurrency crash. (I don't know if the Mt. Gox selloff has started yet but... its a giant pile of BTC you definitely want to be watching right now).

The Mt. Gox trove of 150,000 BTC is one of the biggest sources of "sudden BTC sell pressure" that will randomly come onto the market. The Mt. Gox saga is still not yet over, because Japanese Courts too their sweet-ass time figuring this one out, lol.

https://www.mtgox.com/img/pdf/20211116_announcement_en.pdf

The final plan to distribute the remaining pile of Mt. Gox BTC was finalized in November 2021.

@R-T-B Speak of the devil.

https://www.mtgox.com/img/pdf/20220706_announcement_en.pdf

Mt. Gox is moving forward with their rehabilitation plans. The 150,000ish coins are about to be redistributed out "soon" (for... some definition of soon). I'm guessing this will cause some sell-pressure on BTC and drop the price a bit.

 

[Bomby569]

If someone trusts Mt.Gox after what they did (i said it) crypto is never going to have peace, that's one of the problems with it, no oversight of these idiots in charge.

 

[dragontamer5788]

If someone trusts Mt.Gox after what they did (i said it) crypto is never going to have peace, that's one of the problems with it, no oversight of these idiots in charge.

No one trusts Mt. Gox. But the Japanese Government has captured ~150,000 BTC from Mt. Gox, and is ordering them to distribute them back out to Mt. Gox's creditors.

So the BTC market is about to be hit with 150,000 of BTC that have been time-capsuled from 2014. That's possibly a massive amount of sell pressure about to hit the BTC world.

Then again, it took 8 years to get to this point, it may take a few more months before this BTC is distributed. Still though, I expect the distribution of this treasure-trove of BTC to cause the price of BTC to drop dramatically, whenever it is released.

 

[trog100]

bitcoin and eth seem to be moving upwards.. bitcoin at 21K and eth 13% up on the day at close to 1.4K...

i have no reasons its not worth guessing at.. but the pump is definitely happening..

trog

 

[trog100]

monday morning here in the UK.. bitcoin up over 22K with eth up near 1.5K.. up is definitely the word.. eth more so than bitcoin..

trog

 

[DeathtoGnomes]

No one trusts Mt. Gox. But the Japanese Government has captured ~150,000 BTC from Mt. Gox, and is ordering them to distribute them back out to Mt. Gox's creditors.

Someones hard wallet had a leak to get captured. Umm, so 150k BTC out of how many disappeared?

Skimming over search results for the payout say they wont torpedo BTC prices, whatever that means. So no big pre-distribution sell off remains to be seen.

 

[dragontamer5788]

Someones hard wallet had a leak to get captured. Umm, so 150k BTC out of how many disappeared?

Skimming over search results for the payout say they wont torpedo BTC prices, whatever that means. So no big pre-distribution sell off remains to be seen.

150k-ish BTC is the amount remaining in the wallet. IIRC there was around 700k BTC before the crisis, but its been like 8 years so I don't really remember all the details.

IIRC, the "stolen" BTC from Mt. Gox hasn't moved. There's probably a fear that the world's collective police agencies (FBI, Interpol, etc. etc.) will track whoever touches the "stolen Mt. Gox bitcoins". But again, I haven't really paid attention to this Mt. Gox thing until recently (now that the redistribution seems closer than ever).