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Zerpster

Be cautious with your buy orders

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Something is not right here, BTC is plummeting. SEC announcement about XRP being a security could come anytime now. And the overall crypto volume is very low. 

With the traditional exchanges extremely volitile I fear that anyone with a buy order for below current prices could be in for a surprise if the market comes crashing down. 

I had a large buy order for sub .2 and pulled it out of fear that it would fall right through that zone and out me in the red from the onset. I am watching the market closely and when I feel it has stabled I will enter but all my buy orders are off the table until further notice 

DYOR and good luck.  

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Not to sound offensive but that cliche is getting old. Why would anyone purchase something that is going to be discounted in the future. 

I don’t disagree that else are early in the game but buying just cause the price is below .50 is impatient at best the price is now sub .3 and think about how many more zerps you would have if you waited. 

Me I’m waiting but not gonna get caught if the price drops 30% while I sleep and get stuck in a hole. 

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26 minutes ago, Zerpster said:

Not to sound offensive but that cliche is getting old. Why would anyone purchase something that is going to be discounted in the future. 

I don’t disagree that else are early in the game but buying just cause the price is below .50 is impatient at best the price is now sub .3 and think about how many more zerps you would have if you waited. 

Me I’m waiting but not gonna get caught if the price drops 30% while I sleep and get stuck in a hole. 

sure prices can drop another 30%, but what's the upside potential? $589

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2 hours ago, Zerpster said:

Something is not right here, BTC is plummeting. SEC announcement about XRP being a security could come anytime now. And the overall crypto volume is very low. 

With the traditional exchanges extremely volitile I fear that anyone with a buy order for below current prices could be in for a surprise if the market comes crashing down. 

I had a large buy order for sub .2 and pulled it out of fear that it would fall right through that zone and out me in the red from the onset. I am watching the market closely and when I feel it has stabled I will enter but all my buy orders are off the table until further notice 

DYOR and good luck.  

I currently have buys down to some unbelievable numbers to add to my long term stack  - not expecting them to fill but I also think with the volatility here there could be some rapid and deep wicks triggers by panic and triggered stops , followed by rapid reversal market action with bots being triggered.  I don’t think the 0.20-0.25 range will hold if BTC shoots down to the 1k range.

 

But I think you make a good point to be cautious.  Everyone thought 6k was a floor for BTC but clearly not. 

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1 hour ago, Zerpster said:

Not to sound offensive but that cliche is getting old. Why would anyone purchase something that is going to be discounted in the future. 

I don’t disagree that else are early in the game but buying just cause the price is below .50 is impatient at best the price is now sub .3 and think about how many more zerps you would have if you waited. 

Me I’m waiting but not gonna get caught if the price drops 30% while I sleep and get stuck in a hole. 

Nobody knows the future.  We can look at a trend and make an assumption.  The price would already fall through the floor if everyone just assumed it would go down in the future.   In that case, there's zero support for an asset.  The FOMOers thought XRP would only go up back in December and January.   I made sure I had a position in early December while many were scrambling to build a position as the price flew up in a matter of days.  We can't know the future, but with crypto you have to have a reasonable position or the train will leave without you.  I just believe the average price of XRP in 2019 will be higher than the average XRP price of 2018.  If I am wrong, then I think XRP has failed - that's too long a bear market for Ripple and R3's clients to wait through (IMO).  It would also mean there's not much institutional interest in crypto as Bakkt and Fidelity (and other exchanges) would have launched by then.

 

 

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It is the point when everyone is a permabear that we are near the bottom ... I am happy to see the OP's thoughts. If I took away one thing during January 18, it is that the market stops going up when people dont want to buy any more, and it stops going down when people dont want to sell anymore. 

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6 hours ago, Zerpster said:

Something is not right here, BTC is plummeting. SEC announcement about XRP being a security could come anytime now. And the overall crypto volume is very low. 

 

1. What makes you so sure the SEC will make an announcement anytime soon? We have been waiting all year for the SEC to provide any clarity on the status of cryptocurrencies, and more specifically XRP. You don't provide any information to back up your claim. 

2. What makes you so sure the SEC will declare XRP a security? You once again provide no information to back up your claim.

 

Edited by PactaSuntServanda

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30 minutes ago, PactaSuntServanda said:

1. What makes you so sure the SEC will make an announcement anytime soon? We have been waiting all year for the SEC to provide any clarity on the status of cryptocurrencies, and more specifically XRP. You don't provide any information to back up your claim. 

2. What makes you so sure the SEC will declare XRP a security? You once again provide no information to back up your claim.

 

The institutional investors haven't fully accumulated yet. If they're done, they'll signal the SEC to declare the crypto's they invested in to be what they are. ;)

Edited by Caracappa

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10 minutes ago, Caracappa said:

The institutional investors haven't fully accumulated yet. If they're done, they'll signal the SEC to declare the crypto's they invested in to be what they are. ;)

This.  The innocence of many retail investors knows no bounds.  So many people have an innocent mindset and think this bear market is natural and simply retail traders getting bored of crypto.  Nothing of the sort.  Big institutions accumulating OTC (roughly 70% of trades), and timed dumps on exchanges to push the price down.  The crypto space is so easy to manipulate in this way.  You think Bakkt, Fidelity etc would be interested in this market if it was dying? What would be the point.  If people want to make money in this market, they have to think like the big guys and not let them get shaken out with innocent narratives.  If you want to be innocent, then don't believe the market is manipulated and let your weak hands click the sell button and move on.  Me, I'll be making a decent profit at some point next year.  Check your innocence at the door if you want to make a profit.

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