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What do you get by telling me this? What do you get by talking people into HODLing when their gut and every bit of TA being posted right now is telling them to sell? You are essentially trying to FUD

By all means, get out the bollinger bands, the RSI, the MACD and "see into the future" and buy when you "know" it's at the bottom.  If you can do that, then you're in that tiny minority of people who

Fantastic post - absolutely on the money.  CNBC is a very interesting channel.  Their "journalism" is so heavily loaded with ulterior motives.  You're right in that they literally tell people how to b

i did and i will not buy untill august or end of july because i think thats when we might see a bounce during july we will see correction

there are some stuff that made me do this sell

1st im still winning if i sell i bought like .17

2nd i think its the end of bitcoin so many mistakes made doing forks 

3rd hacking news in southkorea

4th regulations and ethereum sec

5th in the previous years july was a bear correction month and august the bull month

6th august is the month of good events like swell

but if i was losing a lot of money i probably would just hodl to the end or the new beginning 

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4 hours ago, corak said:

"miners are not profitable below this price" is not really an argument. People invest in all kinds of things, including mining hardware, and some of them can lose out on their investment.

The shipping industry circa 2008 had this issue where a temporary increase in demand for raw materials by China has spiked not only their spot prices but also the price of transportation (by ship). At some point there were ships on contracts that pay out something like $200,000 a day. This collapsed spectacularly of course and a lot of shipping companies got stuck with orders for building more ships that cost them tens of millions each and would never return their cost. Some companies went out of business, many stocks went down 90-95%, or even worse than that as these companies were forced to perform debt-to-equity swaps, sometimes multiple times.

People aren't going to bid up BTC just because they want to bail out BTC miners.

Investing in dedicated mining hardware may well be a poor allocation of capital and those who did could lose a lot of money. Time will tell.

If it does fall far below $6000 for a sustained period (many months) it will be interesting to see how it plays out.

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3 hours ago, xrp-pat said:

During the next bull run and likely subsequent market cool-down, I will likely sell some of my XRP and wait for the price to drop.  Now is not the time for me though, I'm of the opinion the bottom is in or very close to it.

Same here, but now I am exclusively buying.

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5 hours ago, xrphilosophy said:

Next few months we will ride a frothy bottom.  Looking forward to the end of the year.  So much fear right now, it's crazy.  Sort of love it, it means a different time ahead....

 

When do you think the market changes. End of year? I am hoping it’s earlier 

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I have been tempted to leave the space completely. There is no bounce we can make analogies to great charts and meteoric rises all we want, but when the prices are sitting at ATL for the year and the VOLUME is still 6 billion. It just confirms there is no interest. 

I've DCA through flipping, being in cash, and buying back lower, but am still not happy with the space. This shows no signs of stopping.

Big sell, drop, no bounce, slight rise

Big sell, drop, no bounce, slight rise

The chart looks like walking down stairs and no attempt by any PUMPER retail or institutional has done a darn thing to increase desire in the space. Even at low volume 5-6 billion a day exchanges are still making millions a day.

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15 minutes ago, Mods_are_tyrants said:

I have been tempted to leave the space completely. There is no bounce we can make analogies to great charts and meteoric rises all we want, but when the prices are sitting at ATL for the year and the VOLUME is still 6 billion. It just confirms there is no interest. 

I've DCA through flipping, being in cash, and buying back lower, but am still not happy with the space. This shows no signs of stopping.

Big sell, drop, no bounce, slight rise

Big sell, drop, no bounce, slight rise

The chart looks like walking down stairs and no attempt by any PUMPER retail or institutional has done a darn thing to increase desire in the space. Even at low volume 5-6 billion a day exchanges are still making millions a day.

this is kind of bad i hope something good happens so i can buy again

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18 hours ago, Chewiecoin said:

When do you think the market changes. End of year? I am hoping it’s earlier 

I hope it's earlier too naturally.  I guess there's no telling in this market truly.  It stands to reason though that until a number of custodial solutions are up and running (and coinbase is hardly the only one), which will be the end of summer, there will be no big stream of larger entrants into the market.  It also stands to reason that it may take a few more months until more significant amounts of these investors actually place their money in. 

To me that has always meant end of year, my hunch is right in Novemeber/December is when we should see the affects, that is to say, the media exposure of these larger entrants, which in turn will build up more awareness on the retail side of things.  When people talk about years for the market to recover - that "could" be true, but I'm not buying it.  Just doesn't seem to add up considering how much is happening real time. 

Unfortunately with this hypothesis it means a good 5-6 month wait time which I am not looking forward to.  Yet as I've been thinking about it in the larger picture 5-6 months from now is not too bad for an entirely newly discovered market to become reorganized, and get back on track to steady growth. 

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Not selling. This market is irrational. Everything, mostly, is following Bitcoin. That says it all. The prices are following a cryptocurrency that was meant to function as a currency to buy things but failed thus far, so it has been rebranded as digital gold. That is it's "store" of value. It's nonsense because anyone can copy and create a new one out of thin air, forks. 

Hegemony is a heck of a word. 

If it were solving something, then we could see it take off and remain on a decent foundation. 

XRP is solving a liquidity problem. Until we decouple, get clarity from the SEC and have more customers committed to using it, expect these price manipulation cycles and irrational markets to continue. 

I personally can't imagine it going below 40 cents. It would just be crazy to see the price go below it's previous ATH. On a lighter note, I don't believe SBI's influence has truly been shown, yet. My gut tells me we're very close to the bottom, if not already there.

Remember, greed is going to keep crypto alive. It's just a matter of setting the price targets that make sense to you. For me it is clear. At certain price points I'm out of the game. I will leave a nice small batch for the kids for when I move on to a better life...for the very long term. 

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5 hours ago, xrphilosophy said:

It stands to reason though that until a number of custodial solutions are up and running (and coinbase is hardly the only one), which will be the end of summer, there will be no stream of larger entrants into the market.  It also stands to reason that it may take a few more months until more significant amounts of these investors actually place their money in.  To me that has always meant end of year, my hunch is right in Novemeber/December is when we should see the affects, that is to say, the media exposure of these larger entrants, which in turn will build up more awareness on the retail side of things.

Because of the bank actions illuminated in the thread below, it seems possible that institutions may be the only entities that can easily buy/sell crypto in the near future. IMO that may keep rices low for a time, but I'm sure that the retail FOMO that we saw is child's play next to what will happen if the big money gets FOMO...

 

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Agreed.  And to that point I am certainly pleased that this is a global market, not just a United States market in that all banks are not cutting out customers from getting funds in.  We do suspiciously so have that going on in this country for some reason- the cut off of credit cards and even debit cards to buy on exchanges.  A way to depreciate prices it appears in the name of consumer safety.  Not really sure what it is.  The other theory I heard is that credit card debt domestically has skyrocket again, and the banks seeing what's coming on that end are trying to stave off further problems for themselves.

 

 

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32 minutes ago, xrphilosophy said:

Agreed.  And to that point I am certainly pleased that this is a global market, not just a United States market in that all banks are not cutting out customers from getting funds in.  We do suspiciously so have that going on in this country for some reason- the cut off of credit cards and even debit cards to buy on exchanges.  A way to depreciate prices it appears in the name of consumer safety.  Not really sure what it is.  The other theory I heard is that credit card debt domestically has skyrocket again, and the banks seeing what's coming on that end are trying to stave off further problems for themselves.

I think it is partially to manage credit risk but also to control fiat on and offramps.  Banks will block us from directly investing in crypto but will happily invest our money on our behalf.

I imagine there will will continue to be many crypto to crypto exchanges in the future with many being decentralized or operating in places like Malta.  But I agree with @GiddyUpthe fiat to crypto exchanges will be institutionally backed and regulated.

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