At this stage, playing out as expected 
Note, everyone on this site was negative when it turned.
Note, everyone on this site was negative when it turned.
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ALT SEASON begins...
- Thread starter SilverSale
- Start date
At this stage, playing out as expected
Too early to call that.
^ Lol, old acquaintances exchanging pleasantries.
precious roar
Active Member
Yep, I'd say it's a trap.
TreasureHunter
Well-Known Member
ETH seems to be a good indicator if you only look at the main price chart. It seems like it's very sensible to the market's movements. Perhaps a bit like silver is vs gold.
Nah, Eth was up 50% on news of a merge and I reckon (crossing fingers) it will pull back, BTC is still the market indicator.
' but for me it's about utility and a couple of the markets I trade in are predominantly paired with LTC'
Because Litecoin was launched so early, it has a fabulous suite of exchanges. So mmm shiney is spot on in this.
'The big question is: which ones should be taken seriously (and bought up) and which ones are closer to zero?' Ooooh! I like this question:
One: concerns over the environmental impact of POW coins just ain't goin' away.
Two: flip your model on its head. Forget fiat prices and quick-buck ICOs. Learn to trade. Check the charts of GRS (energy-efficient POW) and PPC.
Three: watch for 'resistant coins': which just seem to ignore downturns. Thay are around. Check the BNB chart.
'so many negative issues about XRP + they say most of it is owned by the creators, who can simply abandon or dump the entire pile.'
Many long-timers don't think XRP is a crypto because it's controlled by the Ripple Foundation -- centralised.
'"Bitcoin is currently using around 177.43 TWh of electricity yearly. Ethereum uses around 79.69 TWh yearly. "
Again, we see that Bitcoin's energy requirements tower over that of Ethereum.
So, in short, Bitcoin is certainly the more energy-intensive cryptocurrency." '
Check the market caps. Leccy use is about the same $ by $.
'The big question is when does it finally break to the upside? I think we have plenty of time as this market plays out. I am keeping some dry powder to take advantage if it does take a while.'
Niiice!! Is there just more dead wood to be cut out this time? And perhaps we're overlooking the 'outside stuff.' Ordinary Folks be just crazy overloaded with concerns and forms to fill in (and crypto geeks are awful at helping newcomers). Perhaps: long crypto winter; serious attrition; survival of quality/'simple' coins?
Because Litecoin was launched so early, it has a fabulous suite of exchanges. So mmm shiney is spot on in this.
'The big question is: which ones should be taken seriously (and bought up) and which ones are closer to zero?' Ooooh! I like this question:
One: concerns over the environmental impact of POW coins just ain't goin' away.
Two: flip your model on its head. Forget fiat prices and quick-buck ICOs. Learn to trade. Check the charts of GRS (energy-efficient POW) and PPC.
Three: watch for 'resistant coins': which just seem to ignore downturns. Thay are around. Check the BNB chart.
'so many negative issues about XRP + they say most of it is owned by the creators, who can simply abandon or dump the entire pile.'
Many long-timers don't think XRP is a crypto because it's controlled by the Ripple Foundation -- centralised.
'"Bitcoin is currently using around 177.43 TWh of electricity yearly. Ethereum uses around 79.69 TWh yearly. "
Again, we see that Bitcoin's energy requirements tower over that of Ethereum.
So, in short, Bitcoin is certainly the more energy-intensive cryptocurrency." '
Check the market caps. Leccy use is about the same $ by $.
'The big question is when does it finally break to the upside? I think we have plenty of time as this market plays out. I am keeping some dry powder to take advantage if it does take a while.'
Niiice!! Is there just more dead wood to be cut out this time? And perhaps we're overlooking the 'outside stuff.' Ordinary Folks be just crazy overloaded with concerns and forms to fill in (and crypto geeks are awful at helping newcomers). Perhaps: long crypto winter; serious attrition; survival of quality/'simple' coins?
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TreasureHunter
Well-Known Member
Wasn't Litecoin "abandoned"? It's like a rusty ghost ship floating astray...
'Wasn't Litecoin "abandoned"? It's like a rusty ghost ship floating astray...'
Tee hee Drifting at nos 21 on the charts.
Given a little patience, TreasureHunter, there's a really good conversation to be had here. Are cryptos about merchant adoption? Are they just an arena of scammy craziness?
Can we separate good crypto-tech advancement from quick-buck crypto-tech 'advancement'? Are there 'small (old)' cryptos that serve as splendid stores of value. (Yeh. There are.)
Check LTC's ALL chart. It is definitely on the perma-wane. But it also got $600 million volume today!!
So, apart from being troublesomely POW, LTC is a fine crypto: fast.* Massive suite of exchanges. But what happens when an even faster coin comes along?
And can/should 1.0 cryptos hold their value better? And thus really be better cryptocurrencies than development platforms like ETH? Which can have crashes like that following the DAO hack?
*Exchanges have their oddities about confirmations. But if you use cryptos a good deal, ya really get to dig fast coins. (I akchoolllee gotta trial a couple of the newer super-fast coins, like the DAGs.) You can get a crypto like Litecoin or GRS onto an exchange and confirmed fast. You can send a transaction to someone, and have it register in their wallet in just seconds.
Have a look here: https://chainz.cryptoid.info/nmc/ See that there are gaps of 30-40 minutes between blocks?
Now look here: https://live.blockcypher.com/ltc/ Litecoin txes be hammerin' through.
Tee hee Drifting at nos 21 on the charts.
Given a little patience, TreasureHunter, there's a really good conversation to be had here. Are cryptos about merchant adoption? Are they just an arena of scammy craziness?
Can we separate good crypto-tech advancement from quick-buck crypto-tech 'advancement'? Are there 'small (old)' cryptos that serve as splendid stores of value. (Yeh. There are.)
Check LTC's ALL chart. It is definitely on the perma-wane. But it also got $600 million volume today!!
So, apart from being troublesomely POW, LTC is a fine crypto: fast.* Massive suite of exchanges. But what happens when an even faster coin comes along?
And can/should 1.0 cryptos hold their value better? And thus really be better cryptocurrencies than development platforms like ETH? Which can have crashes like that following the DAO hack?
*Exchanges have their oddities about confirmations. But if you use cryptos a good deal, ya really get to dig fast coins. (I akchoolllee gotta trial a couple of the newer super-fast coins, like the DAGs.) You can get a crypto like Litecoin or GRS onto an exchange and confirmed fast. You can send a transaction to someone, and have it register in their wallet in just seconds.
Have a look here: https://chainz.cryptoid.info/nmc/ See that there are gaps of 30-40 minutes between blocks?
Now look here: https://live.blockcypher.com/ltc/ Litecoin txes be hammerin' through.
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TreasureHunter
Well-Known Member
^
Some cryptos have functionality and they're ambitious projects. Therefore I think Ethereum, Cardano and Solana are about many things and Litecoin is almost as "joke" as Dogecoin.
Litcoin is attracting many pump and dumpers, opportunistic investors and a bunch of emo-dumb new age teenagers with smartphones who obsessively buy things up (so, the volumes keep going up as more people board the ship - while the rats have already left the ship.
The crowds board Litecoin just like they bought Shiba Inu. And Litecoin as a project was abandoned by its creator (correcy me if I'm wrong). It's also not much more sophisticated than Dogecoin.
Right now I think Bitcoin itself might lose a lot of momentum after this huge crash. Might stop at 10-11 k, in the best case scenario.
But I expect the "alt coins" rise a lot.
Cardano, Solana, Ethereum, RavenCoin, Stellar... and a bunch more.
I think Bitcoin is a "big pump and dump". Why? Just check the ratio between Bitcoin and Ethereum. In the past you could buy thousands of Ethereum with a single Bitcoin. Now, you can buy 12-14 Ethereums. That's why ETH will grow higher next time than BTC.
Bitcoin consumes a lot more energy and it's a lot more rigid than the newer coins appearing nowadays. The practicality behind Bitcoin is low.
Yes, Bitcoin is the king. for a while. It's like the dollar. I think slowly, many coins will outgrow it in terms of popularity and percentage-wise rise (no, I'm not saying ETH will become more expensive than BTC, but in terms of volume, popularity, transactions, market cap....).
PM stackers watch the GSR. Why not check the ratios between Bitcoin and other coins? (Litecoin remained far behind, it didn't become to Bitcoin what silver is to gold).
Some cryptos have functionality and they're ambitious projects. Therefore I think Ethereum, Cardano and Solana are about many things and Litecoin is almost as "joke" as Dogecoin.
Litcoin is attracting many pump and dumpers, opportunistic investors and a bunch of emo-dumb new age teenagers with smartphones who obsessively buy things up (so, the volumes keep going up as more people board the ship - while the rats have already left the ship.
The crowds board Litecoin just like they bought Shiba Inu. And Litecoin as a project was abandoned by its creator (correcy me if I'm wrong). It's also not much more sophisticated than Dogecoin.
Right now I think Bitcoin itself might lose a lot of momentum after this huge crash. Might stop at 10-11 k, in the best case scenario.
But I expect the "alt coins" rise a lot.
Cardano, Solana, Ethereum, RavenCoin, Stellar... and a bunch more.
I think Bitcoin is a "big pump and dump". Why? Just check the ratio between Bitcoin and Ethereum. In the past you could buy thousands of Ethereum with a single Bitcoin. Now, you can buy 12-14 Ethereums. That's why ETH will grow higher next time than BTC.
Bitcoin consumes a lot more energy and it's a lot more rigid than the newer coins appearing nowadays. The practicality behind Bitcoin is low.
Yes, Bitcoin is the king. for a while. It's like the dollar. I think slowly, many coins will outgrow it in terms of popularity and percentage-wise rise (no, I'm not saying ETH will become more expensive than BTC, but in terms of volume, popularity, transactions, market cap....).
PM stackers watch the GSR. Why not check the ratios between Bitcoin and other coins? (Litecoin remained far behind, it didn't become to Bitcoin what silver is to gold).
$12k (USD) is the 'next low' number that's been bandied around by a number of analysts for a months now. Reversal end of 2023 also predicted but that call is quite far out to hold anyone to. But I'm playing according to these for now.
I think we have already hit the low.
Going by the Weekly Chart, the last time the RSI hit the Lower Band was December, 2018.
We are just coming out of that Lower Band now, with 3 Green Weekly candles, according to the Heikin Ashi candle format.
It is a good indicator for showing trend reversals and shuts out all the noise.
Going by the Weekly Chart, the last time the RSI hit the Lower Band was December, 2018.
We are just coming out of that Lower Band now, with 3 Green Weekly candles, according to the Heikin Ashi candle format.
It is a good indicator for showing trend reversals and shuts out all the noise.
TreasureHunter
Well-Known Member
Where did you hear that?
Multiple online sources stated that it was abandoned (the first time I heard this from someone on this forum). Perhaps it was misleading information (including hearing this from some obscure YouTuber "armchair expert"). Or, the Mandela Effect
Thanks for letting me know!
Where did you hear that?
Multiple online sources stated that it was abandoned (the first time I heard this from someone on this forum). Perhaps it was misleading information (including hearing this from some obscure YouTuber "armchair expert"). Or, the Mandela Effect
Thanks for letting me know!
er by actually looking on teh interwebs, charlie did famously sell the top, as he didnt want his ltc hodlings to influence the development, you may have this event confused with "zomg its abandoned". you can read all about it at the litecoin foundation, instead of random you tubers.
i am lucky enough to chat to him on a semi regular basis and hes still very involved in a number of crypto projects, his brother bobby ran btcc collectibles and now runs ballet wallets which also come highly recommnded.
TreasureHunter
Well-Known Member
10-11 k BTC could be a gift for the newcomers who are looking to invest small amounts of money into "the alts". Perhaps one shouldn't even hope for lower (but perhaps the bottom was already met, we'll have to wait and see).
Overall, the market sentiment would justify a 10-11 k BTC.
It's odd how many expensive products (like 500-800 $ watches) came down by 20-50 %, even. I also noticed that people are less keen on buying old used "garage sale" stuff, but they are stepping on each other to travel.
It looks like no-one has money to invest (at least during the summer), but people will keep buying more and more of the bare necessities (like food and hygiene products) as the crisis deepens. It seems like inflation just keeps going in Europe and the USA. Prolly in Latin-America as well.
There must be some "residual income" to invest, otherwise the crypto market will not go up. Of course, the rich have plenty. So prolly they'll move much of their money into the crypto-fiat, if inflation goes too high?
Overall, the market sentiment would justify a 10-11 k BTC.
It's odd how many expensive products (like 500-800 $ watches) came down by 20-50 %, even. I also noticed that people are less keen on buying old used "garage sale" stuff, but they are stepping on each other to travel.
It looks like no-one has money to invest (at least during the summer), but people will keep buying more and more of the bare necessities (like food and hygiene products) as the crisis deepens. It seems like inflation just keeps going in Europe and the USA. Prolly in Latin-America as well.
There must be some "residual income" to invest, otherwise the crypto market will not go up. Of course, the rich have plenty. So prolly they'll move much of their money into the crypto-fiat, if inflation goes too high?
heartastack, a trend reversal does not mean an all time high.
Your words. Not mine.
We are due for a decent relief rally within the next one or two months before another drop and then going sideways for a lengthy period of time
and finally a real capitulation leading into the next Bull Run.
I am talking about the next couple of years.
Not the next 5 minutes.
Your words. Not mine.
We are due for a decent relief rally within the next one or two months before another drop and then going sideways for a lengthy period of time
and finally a real capitulation leading into the next Bull Run.
I am talking about the next couple of years.
Not the next 5 minutes.
heartastack, a trend reversal does not mean an all time high.
Your words. Not mine.
We are due for a decent relief rally within the next one or two months before another drop and then going sideways for a lengthy period of time
and finally a real capitulation leading into the next Bull Run.
I am talking about the next couple of years.
Not the next 5 minutes.
Yep that sounds fair. Worth clarifying - a lot of this is all about timeframes.