Jump to content
Sign in to follow this  

Bitcoin

Recommended Posts

Hi - You may find the following thread interesting as there are a number of FAQ's answer RE: trading crypto with IG.

 

Cryptocurrency Mega Thread

 

The short answer is as follows: "[With IG] ...you don’t need a wallet or additional offline storage device, and account verification and KYC checks are automatic. You are not buying or selling the underlying Cryptocurrency, but instead speculating on the price movement."

Share this post


Link to post

The trend is extremely bullish on Bitcoin and Cryptocurrencies in general. At the moment, Blockchain - Distributed Ledger Technology, has the potential to be a game changer in several industries. Digital Currencies may be announced by Central Banks but Bitcoin in my opinion is something totally different.

 

It is a digital asset that is limited in supply like a limited edition sports car, limited edition fine 1st grade Bordeaux red wine, limited edition of stamps, limited edition of a Patek Phillippe or Rolex, etc. This is why I can see speculators, Hedge Funds, investors, traders, lots of people basically jumping into to buy Bitcoin which will keep on going higher and higher until the very last Bitcoin has been released. At this point if there is no value to Bitcoin by then, it will come crumbling / crashing down. However if by then it has more importance and value then it could be something like a rare diamond!

 

There will be plenty of trading opportunities, volatility, crashes and spikes, along the way. Each to their own in terms of how to make money from it. Just be ready to short it as well and make money from it whether it is going up or down. 

Share this post


Link to post

Bitcoin is a bubble and rightly so, everyone is interested and so they should be. Gold, tally sticks, cash, crypto.

Bubbles are great fun, they fly about all over the place price-wise but that has nothing to do with the underlying value. Just like the 'dot com' bubble and burst, some blockchain affiliates (Bitcoin, Duck-Duck coin or what-ever that latest ICO is) will survive as did the big dot com companies (but not all).

The underlying asset is real (blockchain that is, not those celeb retard promoted ICO offerings), it's just the price you can't rely on, peeps are already printing 'Bitcoin 10,000' hats, yah. And it may well be so.

Buy a few to keep in your e-wallet, but otherwise just trade the ups and downs but expect a bumpy ride.

 

PS,   can you put this thread in with 'FX and Crypto' ,  

thanks

 

 

Share this post


Link to post

You guys must have a fair chunk to guess up or down. Wish i could join in but trying to build up my cash flow slow and steady atm.

Share this post


Link to post

If you have enough deposit then you can speculate up or down through ig.

Share this post


Link to post

BTCUSD 1 hour RSI slips below 50 again after price failed at the central pivot, S1 struggling, next support around 7110.

 

 

BTCUSD(£)H1.png0611.png

Share this post


Link to post

I would say just forget about Bitcoin, it has rallied way too far. You can buy other things with that amount. Gold ETC, Divi paying shares and so on.

Share this post


Link to post

Yes but surely you can only say 'way too far' once you have the benefit of hind sight , like all good bubbles and Ponzi schemes there is a profit unless you are too late to the party. Yes it will put in a major correction at some point but right now it's the liveliest chart in town. 

I see it caught another bid in the Asian session having dropped below 7000. Now sitting mid way trying to decide which level to retest.

7580 or 6920.

4 hour chart.

 

BTCUSD(£)H4.png0711.png

 

 

 

 

Share this post


Link to post

There seems to be a pattern of buying up in the Asian session then selling off in the Euro and American sessions since start of Nov in what appears to be a period of consolidation.

 

30 min chart.

 

BTCUSD(£)M30.png0811.png

Share this post


Link to post

From a trend following perspective, Bitcoin (bubble or no bubble) is the best, strongest and most clear bullish trend around. I challenge anyone to show me another asset in the whole of 2017 which has produced the same amount of returns as Bitcoin?

 

What makes me laugh is that yes Bitcoin has returned 800% or whatever it is this year which is without the likes of the leverage available on IG for spread betting which would give some far more stellar returns. However, there have been many companies such as nano caps and micro caps around the world which have produced similar if not more returns per year but because the mainstream was not reporting it or not many knew about them they were no comparisons with tulip bulbs or suggestions such as those made with Bitcoin.

 

I personally think that it is Blockchain (DLT) which is worth looking at from an investment perspective. There is more 'fundamental substance' with Blockchain, the technology unpinning Bitcoin and Cryptocurrencies in general. Just enjoy the ride and trend with Bitcoin but do not be surprised it if carries on increasing against all odds as the speculators, hedge funds, greed, etc. will all take Bitcoin to a ridiculous level and then it will come crashing down. Bitcoin will hit $10,000.00.

Share this post


Link to post

Finds more buyers at last nights low 7050 (support after Bitcoin fork failure). Would expect it now to take another look at 7460 (most recent resistance).

 

 

BTCUSD(£)H1.png0911.png

Share this post


Link to post

Looks like Bitcoin could finally be in a downtrend now. Let's see if it gets back over 7000.

Share this post


Link to post

A bit of a low volume profit taking pullback, well deserved after a jolly hard run. Wonder when will the next leg up start?

 

bu1.PNG

 

 

Share this post


Link to post

Homing in on prior daily close all time high and (R1) around 7537, currently 7408.

4 hour chart.

 

 

BTCUSD(£)H4.png1611.png

Share this post


Link to post

Revisits yesterday's low 8941.5, finds buyers again but with much less enthusiasm (and volume).

 

BTCUSD(£)H13011.png

Share this post


Link to post

I fully expect there to be a massive correction. $7,500 - $8,000 would not be unexpected. The mainstream media will make it into a big story of how Bitcoin's bubble is finally bursting and it is now crashing, etc. I think a breach of below $5,000 would be where this could be possible but who knows.

 

At present I expect the next leg up to only start once this which I think will be the biggest correction to date is out of the way.

 

Blockchain companies are behaving like 'gold mining' companies in a strong gold bull run. The similarities are scary. The new generation, the youth, the tech generation are all investing their capital in this arena ahead of the traditional gold bullion. The evidence is there for all to see. Even the hedge funds, speculators, etc. are all mixing in this party which is sure to be one **** of a cocktail.

Share this post


Link to post

There are 758 cryptocurrencies with average daily transaction volumes under $10,000. Only 88 of them have an average volume above $1 million. Bitcoin leads the way with about $2 billion in daily transaction volume. 472 of the 1,213 cryptocurrencies just started trading this year but only 20 of the currencies are actually being used for something other than trading. The rest are purely speculative trading instruments. Some of these cryptocurrencies may fall out of fashion and turn to junk maybe therein lies the current risk? Then again Big boys are only just moving in and a positive factor for the price, or maybe just moving in ahead of an expected crash and planning to use it to build a new world order!!! Enjoy !!!

Share this post


Link to post

It seems there could be the next leg up commencing rather than a large correction. This is where setting stop losses is tricky.

 

I have opted to invest in XBT Tracker One Bitcoin SEK and XBT Tracker One Bitcoin EUR. The returns will closely track the price of Bitcoin but I will not have any leverage so the returns will be less than say spread betting on IG. A lot less!

 

I think the price action is extremely interesting for Bitcoin. CEO's of large investment banks are coming out and suggesting Bitcoin is a fraud, bubble, etc. They must be scared! Imagine what unregulated digital currencies could do for these fat, greedy, selfish and ruthless banks?

 

I mean cash is king when it comes to money laundering. Bitcoin may well be used for money laundering but so is cash. Money laundering can have facets of cheques, electronic payments, hawala banking, etc.

 

There have been many bubbles but when one does not understand what Bitcoin could represent or what changes it could help push then the value cannot be appreciated by most. You cannot simply call something a bubble because you do not understand it. Bitcoin has written itself in the history books. It is the origin of Cryptocurrencies. It helped push Blockchain into the market quicker than what would have been possible.

 

Interesting but unpredictable times ahead.

 

 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,875
    • Total Posts
      41,737
    • Total Members
      51,983
    Newest Member
    Skeggsad
    Joined 13/12/19 19:59
  • Posts

    • Hi all, been up and running and watching from the side lines. Thanks for putting the list up early as I made my own list from the gap scanner from ideas but you seemed to have more plus alot of the tickers I could not trade on IG but jumped on TG Therapeutics at 973 and took some money from that. Then jumped back in at 1059 and she plummeted and my heart just sank. I managed to ride it back up to 1053 and got out with a small profit of £20. Should have put my stop in but am still learning to get out quick . I was so lucky it went back up. Thought I was going to be on a bad loss because I didn't get out early enough. I find that if you only gain a small amount each day its better that going hard at it and loosing.  Still got loads to learn. Anyway cant wait till monday.  Great content and look forward to next week. Have a great weekend.
    • Is it safe to come out now?
×
×