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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

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4 hours ago, Henry Hill said:

Lot of technical analysis going on when business is booming. Deafening silence on days like today.

dumb and dumber GIF

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So we've been bouncing on support for a while. Does anyone have a take on this market?

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Bitcoin took a fairly big dump this morning.  9% down.  Is it due to Zuckerberg talking about Libra today? Someone wanted to sell their holdings before he spoke?

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On 10/25/2019 at 12:18 PM, nycHorn said:

And now China endorses BTC and the whole market skyrockets.

Not quite true. Xi announced China was accelerating development of blockchain technology and they passed some kind of law related to cryptography. It’s assumed they’re pushing to develop their own digital currency. China is anti BTC, but their pursuit of that field of  technology is seen as another confirmation that it’s not going away. 

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Btc down to 7K now. Could be in for a crypto winter.  I’m long on btc as on 5-10 year time frame, so why I have mixed feelings on big downturns like this, it allows me to purchase that much more.  

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Btc down to 7K now. Could be in for a crypto winter.  I’m long on btc as on 5-10 year time frame, so why I have mixed feelings on big downturns like this, it allows me to purchase that much more.  

Any idea where we might find a support level?

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11 hours ago, nycHorn said:


Any idea where we might find a support level?

I guess that depends on your goal and expectations. If you’re day trading, good luck. If you’re long, then the level of support doesn’t matter as much, buy small increments as it goes down, up, or even.

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14 hours ago, nycHorn said:

Any idea where we might find a support level?

Long term? Zero.

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Bounced at 6500 even tho really no historical support there. Did get a bit of a relief rally back about 7K... likely have resistance at 7400 and some support at 7020. I'd say we consolidate here for a few days as it decides whether we go back to find new lows or back up toward 10k.

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On 11/25/2019 at 11:38 AM, XYZ said:

Long term? Zero.

At least you’re consistent.

BTC up over $7500. 

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Some good news on crypto front. Sen Isakson from Georgia resigned and her appointed replacement for the rest of his term is the former CEO of the Bakkt bitcoin exchange. Kelly Loeffler. She immediately becomes the most high profile crypto advocate on Capitol Hill. 

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