Fear of missing out

All kicking off right now aint it?

Does the price differ depending on what exchange or site you look at? Literally everywhere I look is a different price right now.
 
brewski1984 said:
Nobody seems to want to answer that.

Like it or not though, as traders shouldn’t we be looking for opportunities to make money? Regardless of what Bitcoin actually is and how much it’s fundamentally worth it is surely being traded on emotion and herd mentality right now... isn’t there an opportunity to make money from that? It might be a bubble but if the whole world is driving the price up, shouldn’t us “traders” that have (hopefully) a little bit more knowledge than most of the world that hasn’t got a clue, use that to our advantage?
Click to expand...

I don't disagree if some see it as an opportunity to trade Bitcoin and make money in the process. However trading a parabolic phase is not as simple as assuming one can just make money without considering the elevated risk.

In a parabolic phase, one can easily define the parabolic anchor points that defines the curve. If the ascending anchor point is taken out then the phase is likely over. Currently that stop point is around $5400. Exhaustion is impossible to determine until after the fact. Unless you are stopped out or elect to take profits during the exhaustion move (impossible to be optimal), then whatever profits that you may be sitting on is simply on paper and can easily disappear.

Therefore the question - what is the trade plan?
 
Quantt said:
Another major red flag right there...
Click to expand...

I have to admit, I was checking a few places and thinking I'm so glad I'm not trading it. Seems like each site was just quoting whatever price they wanted and if I'd had any money on it I would have been twitching:LOL:


Brumby said:
I don't disagree if some see it as an opportunity to trade Bitcoin and make money in the process. However trading a parabolic phase is not as simple as assuming one can just make money without considering the elevated risk.

In a parabolic phase, one can easily define the parabolic anchor points that defines the curve. If the ascending anchor point is taken out then the phase is likely over. Currently that stop point is around $5400. Exhaustion is impossible to determine until after the fact. Unless you are stopped out or elect to take profits during the exhaustion move (impossible to be optimal), then whatever profits that you may be sitting on is simply on paper and can easily disappear.

Therefore the question - what is the trade plan?
Click to expand...

I think the only plan anyone can have with Bitcoin is to just buy it with money that they don't mind losing and hope for the best - a pure gamble. Anyone who's invested a significant amount of money (relative to them) is just asking for trouble. Judging from what I've seen today and to be fair I've only really taken an interest in it the last couple days so it might not be a fair conclusion, it just seems untradeable.
 
still feel like your'e missing out?

Bitcoin is down more than 20% from today's intraday high in a plunge below $9000 from as high as $11,434.

When do you see any other market drop 20% in a day, right when there is a major crisis. Not for bitcoin, it happens on its own. imagine if there was a genuine crisis!
 
FXX said:
still feel like your'e missing out?

Bitcoin is down more than 20% from today's intraday high in a plunge below $9000 from as high as $11,434.

When do you see any other market drop 20% in a day, right when there is a major crisis. Not for bitcoin, it happens on its own. imagine if there was a genuine crisis!
Click to expand...

Buy the dip! Just kidding, I wouldn't touch this with my worst enemy d-hm- pole :)

I do agree 100% with you, in the next market crisis this will be amazing to watch, because people will need money and there will be a lot of selling, can't imagine the plunge we are going to see...
 
brewski1984 said:
Which brokers offer Spreadbets on bitcoin? CMC don’t have it

Edit: I see etx capital offer it, does anyone use etx and what are they like?
Click to expand...

i used etx about 3 years ago they were fine. IG does it at min £1 pp i think :)

i have not traded it myself but it looks very sexy
 
Greed vs fear

Od8ccxt.gif
 
I bet people see this as an opportunity to buy a dip. I don't think you can apply any fundamental or technical analysis to Bitcoin right now.
 
brewski1984 said:
I bet people see this as an opportunity to buy a dip. I don't think you can apply any fundamental or technical analysis to Bitcoin right now.
Click to expand...

20% here 20% there.......who cares, it's all relative :LOL:
Bitcoin $15,000 next, then on to $20,000.
Crypto market cap still rising, so even though Bitcoin dropped a bit, overall we are still going up.
 
Bubble bubble world of trouble

Bitcoin is entering the “New Paradigm” phase of a bubble. When Bitcoin started it was touted as a new currency, now it’s a store of value better than gold according to the millennial’s. Apparently some other crypto will be used as currency instead.

I heard about Bitcoin when it was worth less than $1 and yes I am kicking myself for not buying some at that price. Another bubble I’ve missed. :rolleyes:

I thought nothing would trump the dotcom mania in my lifetime.

P.S: This is just more evidence of how much inflation the Central Bankers around the world have created. The crypto bubble, Art selling at record prices, Stock markets reaching record highs...If you aren’t worried yet it’s because you don’t understand what’s going on.
 
counter_violent said:
20% here 20% there.......who cares, it's all relative :LOL:
Bitcoin $15,000 next, then on to $20,000.
Crypto market cap still rising, so even though Bitcoin dropped a bit, overall we are still going up.
Click to expand...

My account goes down 20% and more all the time :LOL:

new_trader said:
I heard about Bitcoin when it was worth less than $1 and yes I am kicking myself for not buying some at that price. Another bubble I’ve missed. :rolleyes:
Click to expand...

Out of curiosity, do you think you've missed the bubble due to not getting in before the average joe or do you think it's now too high to buy/going to pop?
 
I have had a go on a demo account with Bitcoin, the spreads are quite wide and for obvious reasons there's no option for a guaranteed stop which I don't like. I also notice it says their market for it closes for the weekend but actual Bitcoin doesn't? Take into account overnight financing and it seems holding long term is not efficient?

Would a futures market stabilize prices or allow mug punters to margin up and cause more volatility? As I said the other day I noticed that every different site I checked for Bitcoin prices was different, would a futures market mean that all these sites would follow the one price?
 
Anger and confusion as crypto traders lose thousands in 'flash crash' on $US54 billion exchange
https://www.businessinsider.com.au/...leaves-crypto-traders-angry-2017-12?r=US&IR=T

A "flash crash" on the world's biggest cryptocurrency exchange has left customers demanding answers and refunds, with many claiming to have lost thousands of dollars.
The price of cryptocurrencies NEO, OMG, and ETP crashed as much as 90% in minutes on the Bitfinex exchange on Wednesday before quickly bouncing back to former levels.
 
Hi off topic, I am new here and obviously missing something simple>

How does one start a thread?

What time zone is the time of post?

Thanks in anticipation of a reply.

seak
 
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