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I bought 10,000 3 to 4 years ago for $26 at a time when I invested $8k in crypto across about 15 coins so not sure why I invested such a small percentage!! Topped up a few times over the last 2 or 3 weeks but only as a speculative long term gamble. The reality is in a year from now it could be worth less than a cent or more than a dollar and no one would be surprised by either.
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Dogecoin - Anyone on it? on 12:34 - May 5 with 2755 views
Dogecoin - Anyone on it? on 22:57 - May 4 by ITFCson
The coin price is irrelevant. It’s the market cap of each crypto you want to look at. A safemoon is about 0.000004 cents per coin. But there was a quadrillion of them when first introduced. The total market cap is around $2.5 billion atm. To find the next 100x coin probably need to be looking for a coin with a much smaller market cap
Mate has suggested Bonfire, ive invested like a tenner for interest but fully expect it to go up in smoke!
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Dogecoin - Anyone on it? on 13:26 - May 5 with 2719 views
BCH (Bitcoin Cash rather than BTC Bitcoin) is having a good day. It's currently up around 25% and is trying to take out its all-time high of £880. When something reaches a previous historical high it doesn't usually just sail through without meeting any resistance. If you look at what happened when it reached that same key level last month it rolled back over again.
It's only ever hit that £880 level three times, once back in 2018. Then not again until last month. And then again today. So will it be 3rd time lucky or will the £880 level hold the price in check?
Doge has taken out the 60 cents resistance level, the next area of resistance is 70 cents. It's up over 20% again today currently. That's a parabolic move and a half! Surely it can't keep up that sort of breakneck pace without a correction at some point (perhaps sooner rather than later).
And remember Ripple (XRP). That went crazy (a lesson in going up too quick too fast) for a while back in late 2017. Then it had a big crash but is slowly working its way back up and regaining lost ground. It's currently up 13% today.
Dogecoin - Anyone on it? on 13:26 - May 5 by midastouch
BCH (Bitcoin Cash rather than BTC Bitcoin) is having a good day. It's currently up around 25% and is trying to take out its all-time high of £880. When something reaches a previous historical high it doesn't usually just sail through without meeting any resistance. If you look at what happened when it reached that same key level last month it rolled back over again.
It's only ever hit that £880 level three times, once back in 2018. Then not again until last month. And then again today. So will it be 3rd time lucky or will the £880 level hold the price in check?
Doge has taken out the 60 cents resistance level, the next area of resistance is 70 cents. It's up over 20% again today currently. That's a parabolic move and a half! Surely it can't keep up that sort of breakneck pace without a correction at some point (perhaps sooner rather than later).
And remember Ripple (XRP). That went crazy (a lesson in going up too quick too fast) for a while back in late 2017. Then it had a big crash but is slowly working its way back up and regaining lost ground. It's currently up 13% today.
I wonder if the same might happen to Dogecoin?
[Post edited 5 May 2021 13:29]
All of this is just riding the altcoin bubble which is currently underway as people are taking some profits from BTC and speculating on other coins.
There is no fundamental reason why an unpopular fork of BTC (Bitcoin Cash) or XRP (a totally centralised coin which goes against all principles of crypto) should be doing well except the fact it's a bubble.
SB
Avatar - IC410 - Tadpoles Nebula
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Dogecoin - Anyone on it? on 13:52 - May 5 with 2685 views
Dogecoin - Anyone on it? on 13:26 - May 5 by midastouch
BCH (Bitcoin Cash rather than BTC Bitcoin) is having a good day. It's currently up around 25% and is trying to take out its all-time high of £880. When something reaches a previous historical high it doesn't usually just sail through without meeting any resistance. If you look at what happened when it reached that same key level last month it rolled back over again.
It's only ever hit that £880 level three times, once back in 2018. Then not again until last month. And then again today. So will it be 3rd time lucky or will the £880 level hold the price in check?
Doge has taken out the 60 cents resistance level, the next area of resistance is 70 cents. It's up over 20% again today currently. That's a parabolic move and a half! Surely it can't keep up that sort of breakneck pace without a correction at some point (perhaps sooner rather than later).
And remember Ripple (XRP). That went crazy (a lesson in going up too quick too fast) for a while back in late 2017. Then it had a big crash but is slowly working its way back up and regaining lost ground. It's currently up 13% today.
I wonder if the same might happen to Dogecoin?
[Post edited 5 May 2021 13:29]
And here's a good example of a historically important level on a chart, this is WTI Oil. Notice how significant the $66 level is on this chart. The price certainly respects that key level. It's a key place where buyers and sellers have done battle over and over again. In fact, it's a level that hasn't been completely breached for around 2 years now.
The price is currently very slightly above it, but whether it break out to higher ground from there or not remains to be seen.
I mentioned a while back in another thread what a great buy opportunity oil was (when it bottomed out) but I know most of you are much too ethically minded and environmentally friendly (and with good reason) to be going anywhere near that one, not even with a bargepole.
Can anyone reassure me that Trust wallet and MoonPay etc are legit and trustworthy please?
I am planning to speculate with a small sum and if I lose it it's not a big deal but I don't want to put my bank details anywhere dodgy obviously. I'm looking to buy safemoon and bonfire. Maybe 2-3 others as well.
Oh and Pancake swap?!?! These names don't fill me with confidence...
Dogecoin - Anyone on it? on 13:50 - May 5 by StokieBlue
All of this is just riding the altcoin bubble which is currently underway as people are taking some profits from BTC and speculating on other coins.
There is no fundamental reason why an unpopular fork of BTC (Bitcoin Cash) or XRP (a totally centralised coin which goes against all principles of crypto) should be doing well except the fact it's a bubble.
SB
Crypto is very volatile. If there aren't some major corrections on some (or most) of these altcoins in the not too distant future I will be very surprised. Things that tend to go up too quickly too fast often go out like a light. It's nice to have growth but it's unrealistic to expect something to keep going up by insane amounts like 10% or 20% in a day without there being a day of reckoning lurking around the corner.
Of course the only sensible way to mitigate some of the high levels of risk is to keep taking profits on the way up while the party is still in full flow. Set alerts on the chart so whenever the price moves up by a certain percentage one can continue to take profits in tranches. If investors do it that way then they could make many times their investment before the lights go out (if they are lucky). Getting the exit strategy right is just as important as any entry strategy. However, (anybody reading this) please be under no illusions that the music could stop at any moment. When something is moving up in a parabolic manner it's very unlikely to carry on indefinitely without a major correction at some stage (often sooner rather than later).
Dogecoin - Anyone on it? on 14:05 - May 5 by J2BLUE
Can anyone reassure me that Trust wallet and MoonPay etc are legit and trustworthy please?
I am planning to speculate with a small sum and if I lose it it's not a big deal but I don't want to put my bank details anywhere dodgy obviously. I'm looking to buy safemoon and bonfire. Maybe 2-3 others as well.
Oh and Pancake swap?!?! These names don't fill me with confidence...
Use Binance, bro. Best exchange out there, imo.
footers QC - Prosecution Barrister, Hasketon Law Chambers
Dogecoin - Anyone on it? on 14:05 - May 5 by J2BLUE
Can anyone reassure me that Trust wallet and MoonPay etc are legit and trustworthy please?
I am planning to speculate with a small sum and if I lose it it's not a big deal but I don't want to put my bank details anywhere dodgy obviously. I'm looking to buy safemoon and bonfire. Maybe 2-3 others as well.
Oh and Pancake swap?!?! These names don't fill me with confidence...
Dogecoin - Anyone on it? on 15:53 - May 4 by footers
Dogecoin is just Musk's plaything. Do it while it's cheap but don't expect miracles.
Ethereum is the smarter buy right now.
Plaything sums it up. Some of his tweets the last few months have been translated in gematria to say things such as "Buy XRP"...I'm sure we'll find out in time, but minus the SEC case, XRP looks really interesting in terms of real world use and a punt for anyone wanting to dip into crypto.
Dogecoin - Anyone on it? on 13:26 - May 5 by midastouch
BCH (Bitcoin Cash rather than BTC Bitcoin) is having a good day. It's currently up around 25% and is trying to take out its all-time high of £880. When something reaches a previous historical high it doesn't usually just sail through without meeting any resistance. If you look at what happened when it reached that same key level last month it rolled back over again.
It's only ever hit that £880 level three times, once back in 2018. Then not again until last month. And then again today. So will it be 3rd time lucky or will the £880 level hold the price in check?
Doge has taken out the 60 cents resistance level, the next area of resistance is 70 cents. It's up over 20% again today currently. That's a parabolic move and a half! Surely it can't keep up that sort of breakneck pace without a correction at some point (perhaps sooner rather than later).
And remember Ripple (XRP). That went crazy (a lesson in going up too quick too fast) for a while back in late 2017. Then it had a big crash but is slowly working its way back up and regaining lost ground. It's currently up 13% today.
I wonder if the same might happen to Dogecoin?
[Post edited 5 May 2021 13:29]
Theres a saying that when taxi drivers start telling you what shares to buy you know its time to quit the market.
I think the same can be applied to football fans on forums discussing breakthrough points of alt coins ;-).
No one can convince me that Etereum is worth half of what Amazon currently is.
I only buy this stuff cos I can see that the whole world is on a get rich quick band wagon. The selling timing will be important.
Dogecoin - Anyone on it? on 17:40 - May 5 by nodge_blue
Theres a saying that when taxi drivers start telling you what shares to buy you know its time to quit the market.
I think the same can be applied to football fans on forums discussing breakthrough points of alt coins ;-).
No one can convince me that Etereum is worth half of what Amazon currently is.
I only buy this stuff cos I can see that the whole world is on a get rich quick band wagon. The selling timing will be important.
Absolutely. We are gambling. Could make a fortune. Could, more likely, lose virtually everything. Someone is going to be left standing when the music stops just like with Football Index. It might be us.
There's some pros and cons. These videos will do a better job at explaining it than me. Have a watch if interested. Will save me a bit of keyboard leather! :-)
Dogecoin - Anyone on it? on 23:21 - May 5 by midastouch
Here are some of the crypto gains today:
Doge stayed around where I was kind of expecting as did Ripple. But BCH totally exceeded my expectations today.
It's based on nothing though and you're not addressing that. Pointing to chart analysis isn't justified as none of this is based on fundamentals, it's just hype and FOMO based trading.
SB
Avatar - IC410 - Tadpoles Nebula
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Dogecoin - Anyone on it? on 09:21 - May 6 with 2242 views
Dogecoin - Anyone on it? on 23:59 - May 5 by StokieBlue
It's based on nothing though and you're not addressing that. Pointing to chart analysis isn't justified as none of this is based on fundamentals, it's just hype and FOMO based trading.
SB
I'm not sure I fully understand your point here Stokie. The gains that are being displayed by Midastouch are real are they not? If you had invested £1000 in BCH two days ago you would have turned that into £1540 by close of play yesterday, and if you were to have sold at that point then those gains would have been realised. I'm not suggesting that people should be doing this without knowing what they are doing, but nonetheless there is real money to be made ( and of course lost ).
All of this current price action is expected due to the bitcoin halving and four year cycles, of which I am sure you are aware. This current bull run is likely to continue for most of this year barring any significant unexpected World events. Short term trading in Crypto is undoubtedly risky but longer term investing based on the cycles is actually quite reliable and sensible if you pick the right projects.
As for fundamentals, I agree that coins such as Dogecoin are based on little more than speculation and hype but there are also plenty of other projects that provide real World solutions.
Theta for example provides blockchain technology to online video distribution and has partnerships with big players such as Youtube and Google. Cardano has recently partnered with the Ethiopian Government providing technology to assist the education department. Another Crypto project Chainlink has a partnership with UNICEF. For every Dodgecoin there is a project that is providing some real value.
[Post edited 6 May 2021 9:26]
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Dogecoin - Anyone on it? on 09:27 - May 6 with 2228 views
Dogecoin - Anyone on it? on 09:21 - May 6 by Harry_Palmer
I'm not sure I fully understand your point here Stokie. The gains that are being displayed by Midastouch are real are they not? If you had invested £1000 in BCH two days ago you would have turned that into £1540 by close of play yesterday, and if you were to have sold at that point then those gains would have been realised. I'm not suggesting that people should be doing this without knowing what they are doing, but nonetheless there is real money to be made ( and of course lost ).
All of this current price action is expected due to the bitcoin halving and four year cycles, of which I am sure you are aware. This current bull run is likely to continue for most of this year barring any significant unexpected World events. Short term trading in Crypto is undoubtedly risky but longer term investing based on the cycles is actually quite reliable and sensible if you pick the right projects.
As for fundamentals, I agree that coins such as Dogecoin are based on little more than speculation and hype but there are also plenty of other projects that provide real World solutions.
Theta for example provides blockchain technology to online video distribution and has partnerships with big players such as Youtube and Google. Cardano has recently partnered with the Ethiopian Government providing technology to assist the education department. Another Crypto project Chainlink has a partnership with UNICEF. For every Dodgecoin there is a project that is providing some real value.
[Post edited 6 May 2021 9:26]
My point is that chart analysis for crypto is very risk indeed because movements are driven by other factors such as whales who can move the entire market with their large portfolios. Applying traditional chart analysis which is based on fundamentals and known movements when people can't easily move the market is not something people should be doing lightly.
He's posts imply that people can use chart analysis to predict and realise these spikes but I am really not sure about that and people should be careful.
The moves in alts like DOGE aren't to do with the halving, they are entirely to do with speculation based on hype from people like Musk.
The examples you've given of real-world applications shouldn't be for trading though, if they are really to help in those sectors it should be purely about the application and not about the wealth creation.
Also worth pointing out that there are tax implications for trading crypto which many people aren't aware of. My general point is that people need to do their own research before getting into crypto trading and that traditional analysis doesn't really apply. Perhaps I am wrong but someone could have easily dumped loads of BCH yesterday and driven the price down regardless of what the chart analysis says.
Good luck to anyone who does want to invest though, only put in what you can afford to lose though as with all these things.
SB
[Post edited 6 May 2021 9:30]
Avatar - IC410 - Tadpoles Nebula
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Dogecoin - Anyone on it? on 09:36 - May 6 with 2208 views
Dogecoin - Anyone on it? on 23:59 - May 5 by StokieBlue
It's based on nothing though and you're not addressing that. Pointing to chart analysis isn't justified as none of this is based on fundamentals, it's just hype and FOMO based trading.
SB
You obviously didn't read my post above where I emphasised that it's unrealistic to expect such exorbitant gains to continue indefinitely without some major corrections ahead.
Dogecoin - Anyone on it? on 09:27 - May 6 by StokieBlue
My point is that chart analysis for crypto is very risk indeed because movements are driven by other factors such as whales who can move the entire market with their large portfolios. Applying traditional chart analysis which is based on fundamentals and known movements when people can't easily move the market is not something people should be doing lightly.
He's posts imply that people can use chart analysis to predict and realise these spikes but I am really not sure about that and people should be careful.
The moves in alts like DOGE aren't to do with the halving, they are entirely to do with speculation based on hype from people like Musk.
The examples you've given of real-world applications shouldn't be for trading though, if they are really to help in those sectors it should be purely about the application and not about the wealth creation.
Also worth pointing out that there are tax implications for trading crypto which many people aren't aware of. My general point is that people need to do their own research before getting into crypto trading and that traditional analysis doesn't really apply. Perhaps I am wrong but someone could have easily dumped loads of BCH yesterday and driven the price down regardless of what the chart analysis says.
Good luck to anyone who does want to invest though, only put in what you can afford to lose though as with all these things.
SB
[Post edited 6 May 2021 9:30]
I didn't personally interpret midastouch's posts in that way. To me he was simply providing some knowledge / analysis on the current market along with warnings / caveats around volatility, price corrections etc.
I agree that short term trading is very risky and nobody should be attempting it before they know what they are doing and only with money they can afford to lose. I appreciate you are looking out for people with your intentions but I genuinely don't think the poster was trying to encourage people to get involved recklessly.
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Dogecoin - Anyone on it? on 09:44 - May 6 with 2181 views
Dogecoin - Anyone on it? on 09:36 - May 6 by midastouch
You obviously didn't read my post above where I emphasised that it's unrealistic to expect such exorbitant gains to continue indefinitely without some major corrections ahead.
You posted that in a different post to the one I replied to which specifically used chart analysis to try to explain the moves, I just don't think that's entirely valid in crypto.
Good luck to yourself and anyone who are heavily involved though, I am sure there is still a fair bit of upside if one picks the right coins.
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