Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 18/08/2014, 11:19:24 UTC
Quote from: Newbie1022 on August 18, 2014, 09:59:18 AM
Quote from: JayJuanGee on August 18, 2014, 09:52:13 AM
Quote from: Threebits on August 18, 2014, 06:29:55 AM
Quote from: Ozziecoin on August 18, 2014, 05:40:34 AM
Did anybody notice the China sell off?



My current theory is that China's private credit engine/shadow banking sector has stalled. So Chinese Btc speculators have been forced to liquidate.

Any other views out there?  Thanks.

It's not persuasive. If shadow banking sector stalled, the Chinese security market wouldn't have had been so firm.

The crypto bulb popped, no fresh money coming in. Is it simple as that? I've got to hodl with my average cost high in the sky.


What's your average costs, approximately?  Mine is about $609 (atm), and yes average cost (being in the red or the black) does affect thinking and behavior...

No leverage, right? I think you gotta hang in there, buddy. You've taken the worst of it up to this point. Even if there is a flash crash that would happen at about 455/450 and we'd stabilize around 430. I doubt, at that point, they'd be able to continue hunting margins even lower than the low 400s range... there'd be too much buy pressure.

So, that's probably the worst case scenario. The best cast is we found a bottom and you didn't move in and out with the incidental costs/slippage that come with not knowing where the bottom is.

So yes, if no leverage, hold tough. If leveraged, maybe still... but that's rough.

I am NOT in the trading mode... but yep.. that seems a pretty solid suggestion for any person who may be in a similar situation... ... though I am prepared even if the situation is worse b/c I did NOT invest any more than I can afford to lose (or loose in modern wall parlance).

I do have some leverage, but it NOT a real big deal to me.. the leverage comes due in September 2015, and is the equivalent of about $20k.. ..   The fee was about $800 for that $20k... so I have pretty decent confidence that BTC prices will sufficiently go up for me to recover that $800  - yet I am financially prepared in the event that it does NOT... I am more than willing to take such a risk based on my view and calculation of the upside potential of BTC in its current overall posture...