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Guessing corrections


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26 minutes ago, Baka said:

won't happen, we'll see a big correction , you can be sure about that

But this is the whole point in crypto, you simply can’t. You can guess based on past performance, but you can’t say with 100% certainty it will happen. 
One could have as much conviction that it’s going to rise exponentially from here and the past has just been the lull before the storm. 
By the way, I’m not saying this to be obnoxious, I’m just making a point of saying that surely anything is possible and nothing is certain 👌👍

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1 hour ago, Baka said:

won't happen, we'll see a big correction , you can be sure about that

You were sure that you sell at 1 USD 🤣🤣🤣

By the way, have you sold any % yet? 🥺

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8 hours ago, xrp-nuke said:

You were sure that you sell at 1 USD 🤣🤣🤣

By the way, have you sold any % yet? 🥺

I don't understand your posts.

But no, not yet.

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10 hours ago, B088IN said:

I’m just making a point of saying that surely anything is possible and nothing is certain

I'm with @Baka here. I think we can be 100% certain of major corrections in this market for the simple reason that the order books are so unbelievably thin and concentrated across the board compared with mature commodities markets that a small correction can quickly turn into a rout within minutes or hours. There's a lot of coordinated bot activity which can switch off and pull the rug out. I watched entire buy sides of order books evaporate in seconds during the Reddit pump earlier this year. That was February - as in a few weeks ago.

So yes, major corrections are part and parcel of this market for now.

I accept that the market has improved since 2018 but unless someone can show me evidence that corrections are getting smaller by an order of magnitude to those in 2017 and 2018, I think it's safer to assume deep corrections in the range 20-40% as we proceed through the price levels. Will we see a bear market the likes of which we experienced from 2018 and 2019? Perhaps, but this time going sideways at higher levels.

I calculated that in 2017/18, XRP stayed above $1 for about 30 days. I will be watching for that again this year. Not only how high the XRP price can go, but how long it can sustain certain price benchmarks.

 

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26 minutes ago, Pablo said:

I calculated that in 2017/18, XRP stayed above $1 for about 30 days. I will be watching for that again this year. Not only how high the XRP price can go, but how long it can sustain certain price benchmarks.

Very good point. (We will all be watching, waiting and hoping that the drop back to $0.4 never happens).

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3 hours ago, Baka said:

I don't understand your posts.

But no, not yet.

You were always unhappy of not realised opportunities at 0.6-0.7, I was always saying to you, that it easy to judge once event happened. You were saying that if by any luck it hits 1 you sell some portion.

So now, I am here at the event time, reminding (and did remind at 1.8) you of opportunities 🥺 

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2 hours ago, xrp-nuke said:

You were always unhappy of not realised opportunities at 0.6-0.7, I was always saying to you, that it easy to judge once event happened. You were saying that if by any luck it hits 1 you sell some portion.

So now, I am here at the event time, reminding (and did remind at 1.8) you of opportunities 🥺 

I wanted to sell a % at 1$ , and I'll be a little sad if it goes down to 0.6$ again.

But now I have 9 different coins , im not bothered by XRP price swings anymore , only if it really crash down to low cents

 

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On 4/15/2021 at 11:20 PM, Baka said:

won't happen, we'll see a big correction , you can be sure about that

I think it is happening now, mainly due to nations banning Bitcoin in a concerted way.

Gut feeling, BTC will go back down to sub $6k and XRP will trade between $0.18 and $0.25 again.

There has been a wall of negative news in the last month or so, but few noticed it during the run up party.

It  looks like they are starting to move against Bitcoin.

 

Turkey has just made crypto illegal: https://www.euronews.com/amp/2021/04/16/turkey-has-just-banned-the-use-of-cryptocurrencies-and-bitcoin-is-already-feeling-the-stra

 

HSBC has banned people from dealing in Micro Strategy stock due to the firms holding of 91k BTC. https://www.financemagnates.com/cryptocurrency/news/hsbc-bans-microstrategy-shares-citing-bitcoin-investments/

 

The UK had already banned Crypto Derivatives: https://www.mirror.co.uk/money/every-single-bitcoin-product-banned-22800240

 

 

India is also on the case for on outright ban: 

https://mobile.reuters.com/article/amp/idUSKBN2B60QP

 

 

Ray Dalio also thinks the US is heading that way: https://www.cnbc.com/amp/2021/03/26/bridgewaters-ray-dalio-good-probability-government-outlaws-bitcoin.html

 

I've just sold out my XRP as I am fairly certain the cyclical crash has started. I am sure most Crypto will drop 90%, like before , before a new run up in 2024/5.


That said, it BTC not recover this time, as we should have viable Quantum computers for cracking BTC in 3 years from now. BTW, i work in the field, and Quantum Computers are real.

 

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2 hours ago, Mikhail_Liebenstein said:

I think it is happening now, mainly due to nations banning Bitcoin in a concerted way.

Gut feeling, BTC will go back down to sub $6k and XRP will trade between $0.18 and $0.25 again.

There has been a wall of negative news in the last month or so, but few noticed it during the run up party.

It  looks like they are starting to move against Bitcoin.

 

Turkey has just made crypto illegal: https://www.euronews.com/amp/2021/04/16/turkey-has-just-banned-the-use-of-cryptocurrencies-and-bitcoin-is-already-feeling-the-stra

 

HSBC has banned people from dealing in Micro Strategy stock due to the firms holding of 91k BTC. https://www.financemagnates.com/cryptocurrency/news/hsbc-bans-microstrategy-shares-citing-bitcoin-investments/

 

The UK had already banned Crypto Derivatives: https://www.mirror.co.uk/money/every-single-bitcoin-product-banned-22800240

 

 

India is also on the case for on outright ban: 

https://mobile.reuters.com/article/amp/idUSKBN2B60QP

 

 

Ray Dalio also thinks the US is heading that way: https://www.cnbc.com/amp/2021/03/26/bridgewaters-ray-dalio-good-probability-government-outlaws-bitcoin.html

 

I've just sold out my XRP as I am fairly certain the cyclical crash has started. I am sure most Crypto will drop 90%, like before , before a new run up in 2024/5.


That said, it BTC not recover this time, as we should have viable Quantum computers for cracking BTC in 3 years from now. BTW, i work in the field, and Quantum Computers are real.

 

All I can say is - I strongly disagree.  We've been here so so many times with this kind of news.  Crypto's never been "safer" to buy than now in terms of adoption (e.g Visa using USDC), institutional investing and governmental support.  It doesn't mean people aren't going to get rekt trying to invest in it, nor that we're not going to enter a bear market at some point (of course we are, we just don't know when).  Today we had a pull back that's fairly typical (I think we had two already this year like this, 21st Jan / 14th Feb).  The death of this asset class has been announced so many times - and yet more and more adoption occurs. 

Edited by 2ndtimearound
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1 hour ago, 2ndtimearound said:

All I can say is - I strongly disagree.  We've been here so so many times with this kind of news.  Crypto's never been "safer" to buy than now in terms of adoption (e.g Visa using USDC), institutional investing and governmental support.  It doesn't mean people aren't going to get rekt trying to invest in it, nor that we're not going to enter a bear market at some point (of course we are, we just don't know when).  Today we had a pull back that's fairly typical (I think we had two already this year like this, 21st Jan / 14th Feb).  The death of this asset class has been announced so many times - and yet more and more adoption occurs. 

 

Agree it is cyclical.  And I will buy back in.

Longer term though I think XRP will be safer as an official security, with a revised security schema.

Bitcoin remains vulnerable to DDoS and if a Government decided to take it down they easily could. Also Shors algorithm on a 1000 qubit machine will eat Bitcoin, there is a chance by 2024 BTC will be zero.

Several vendors are promising such hardware by 2023!

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1 minute ago, Mikhail_Liebenstein said:

 

Agree it is cyclical.  And I will buy back in.

Longer term though I think XRP will be safer as an official security, with a revised security schema.

Bitcoin remains vulnerable to DDoS and if a Government decided to take it down they easily could. Also Shors algorithm on a 1000 qubit machine will eat Bitcoin, there is a chance by 2024 BTC will be zero.

Several vendors are promising such hardware by 2023!

What about other cryptos? Are they also vulnerable to quantum computers? Are they planning to secure this issue?

That is very intresting thing, and people not talking much about it.

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