[Steve McQueen]

Seems like Crypto has been relegated to yesterdays news. I only started in Crypto last Summer but I have learned more in the last 6 months than in the previous six.

Any idiot could have made money in 2017 and many did, myself included. It takes a little bit extra to do it in the current market cycle and I would advise people here to give it another try. If you are lazy like me and I can do it then why not you.

Lessons learned:

RSI indicator coupled with Buy Market Percentage is a good indicator of both tops and bottoms. If you cant be arsed learning trading proper these are the lazy mans trading tools.

When these bottom out buy in (Currently bottomed out), and when topped out like (December for bitcoin and January for Alt coins) sell everything. Pity I didnt know this in January, HODLd like a true chump.

Twitter has some good follows and a lot of scam artists. Personal fav follow is @CryptoDonAlt. He doesnt seem to shill coins a lot and gives very clear information on the Bitcoin market, has been bear since 17k on the way up in January so I wish I had found him sooner.

Making money in a bear:

Look for coins that are performing well despite Bitcoins decline. I personally am in BNB, HT and EOS right now. Exchange coins seem to be bear proof and solid performers this year. BNB did a x10 since December for example.

I would also add margin trading to the above but I dont do it myself due to lack of available time and also laziness.

Think this forum needs a bit of a lift, anyone else got any insights to making money in a down market?

[Giacomo Casanova]

During a bear market a good strategy could be the accumulation at low prices. The famous "buy the dip" or Dollar Cost Averaging. Surely you have to be patient and hodling, but the stories about people buying BTC at 300$ during bear market of 2015 and hodling for 3 years are the classical example of winning strategy.
Of course it is important to "bet" on a good project and with a real world applications preferably, it's not time to diversify a portfolio with 10 different coins.

[Steve McQueen]

No absolutely not, all in on tethers or a safe coin

[semibaron]

I remember the day when China banned Bitcoin in 2013 and saw the price of LTC dropping in real time from $45 to $15. This time it's more a correction. Most people should still be in +++

[Matt3B]

I think that if you've been active in the bear market and still stick around, you'll be one of the very profitable people in 18 months to 2 years from now.

I've been margin trading mostly and have managed to understand the market a lot. I think that if you experienced the last bull rush and learned from it, you'll be able to cream it the next time we have one (we'll need to see it over 20k to have anything close to what we had in November in my opinion).

We could start to see the market look like it did at the beginning of 2017 if the 5k level doesn't hold. It'll be a very rapid drop down to around 1.5-1.8k I think because we'll be in full capitulation mode. That's good for those of us that missed the opportunity to accumulate bitcoin at a cheap price relative to its potential and ATH.

Investor and institutional opinions are still bullish in the long term for Bitcoin. This is an obvious market correction and I wouldn't be surprised to see us between the 6-9k range for the remainder of the year and then start to creep up next year.

A guy I interact with on Twitter wrote this and I largely agree with it:

https://medium.com/p/de3aa0b57029

[lavidaloca]

I'm sure my opinion is going to be very unpopular but I see no appeal in Cryptos. I suspect we don't see more people say this because it's an unpopular opinion at this point in time but I'm confident I'm not the only one who thinks it's silly.

This was a cool fun investment when it was $20 or $50 for a bitcoin. It was a speculative investment at that point but atleast it wasn't going to be the type of money that if people lost they were going to take a beating financially. When you are talking about $1,000s of dollars for one bitcoin you've lost me.

This should be a small portion of a portfolio. Perhaps 5-10%. Any more than that and you are going to be seriously risking your portfolios long term performance.

I won't deny that theres a legitimate possibility I'm wrong and bitcoin soars. If it does I think it will be because of the herd mentality though.

Warren Buffets opinion seems to mirror mine on cryptocurrency.

"To billionaire Warren Buffett, bitcoin is as bad as gold.

"If you go back to the time of Christ, and you look at how many hours we had to give up in order to buy an ounce of gold and you bring it forward to now, you'll find the compound rate may be a tenth or two-tenths of 1 percent, … but it doesn't produce anything," the Berkshire Hathaway chief tells CNBC.

"When you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along," Buffett says.

On Saturday, Buffett called bitcoin "probably rat poison squared."

The last comment makes me laugh.

[Giacomo Casanova]

https://www.cnbc.com/2018/05/05/buffett-...racle.html

Buffett simply doesn't understand tech. I wouldn't trust him.

Anyway blockchain is here to stay. There are already a lot of game changers applications being built daily by big businesses and fortune 500 companies. In a few years everybody will use blockchain without knowing about that.

[RichieP]

Buffet prefers "productive" companies like Coca-Cola and See's Candy which have just added so much value to the world. Giving children obesity and cancer since 1886. What's that about rat poison?

[Matt3B]

The majority of people in crypto don't listen to Warren Buffet. Look at the age demographics. Totally different generation.

And lavidaloca, when the prices go back up then everyone and his mother will want back in, 1000s of dollars as a valuation won't matter.

[thebassist]

If anything, I think the most important thing that many of us have learnt are the necessities of ironclad profit-taking strategies, established preferably before any kind of bull run.

While I've still done very well for myself since starting around late august I did not follow any kind of planned profit-taking framework- and thus cashed out way too little during the latest bull run.

I will not be repeating this mistake.

[MongolianAbroad]

Conversation overheard at a crypto exchange...

Substitute crypto exchanges for Wall Street.

[Steve McQueen]

Ha ha indeed, but you are mistaken if you think this is a fugazi.

Sound money and being your own bank rebalances the scales of power in favor of the masses.

Bail ins coming to a bank near you soon, get your money out of the reach of those who would seek to take it from you.

Crypto is a peaceful revolution.

[Bill Brasky]

Payment processors like PayPal and Stripe cutting off services to “problematic” people and companies makes crypto our savior.

After Parkland, I saw agitation by financial journalists suggesting to banks to start cutting off services to companies and business that don’t comply with their demands for gun control. Let’s be honest though, it’s not even about control it’s about disarming the politically problematic.

If you think it ends with PayPal or banks selectively denying services for a guaranteed right you’re sorely mistaken. Anyone right !Yeb Bush is slated for eventual economic exile.

Crypto isn’t an alternative, it will eventually be the only option.

[KMK]

(06-19-2018 06:22 AM)thebassist Wrote:  

If anything, I think the most important thing that many of us have learnt are the necessities of ironclad profit-taking strategies, established preferably before any kind of bull run.

While I've still done very well for myself since starting around late august I did not follow any kind of planned profit-taking framework- and thus cashed out way too little during the latest bull run.

I will not be repeating this mistake.

Unfortunately there's millions of people in the same boat as you because of dec. 2017. When everyone's thinking "not making the same mistake twice, got to take profits early", how can a big bullrun happen? No hodlers to sustain it.

[Matt3B]

Greed will take over in such a scenario to the low IQ and uninitiated masses. Even as an experienced day trader, I tell myself I will cut a losing position when it gets back to break even but the greed always rears its head.

It takes a strong will and learned mind to kill a position at break even after being down, especially on an upwards rally.

[Cheap Tracksuit]

This is all just proving that crypto is a freaking scam. Shit coins everywhere and a whole bunch of inside trading. It's like early Internet bubble on steroids. Kiss all your investments goodbye.

[Pinocchio]

The internet is pretty big these days