Other Coins - Price & Trading topic

It’s very simple. There are more people who buy than those who sell. The weak hands let go, the strong ones catch. The cycle repeats. That’s really all.

3 Likes

You’re saying that the demand for bitcoin went up because of cyclic price movement and not because of reaction to news and recent events?

That’s surprising from my perspective, but maybe I don’t have the stomach for serious crypto investing anyway, when such massive price jumps are a normal part of the cycle…

I’ve heard crypto investors have a very different mentality from traditional investors, and that crypto markets are affected differently/less by global news. If this demand spike is just part of the supply/demand cycle, it would definitely serve as evidence of that theory.

Or, again, maybe I just don’t have a good intuition for the psychology of the markets, and I should just stick to computers :laughing:

1 Like

The majority of people in crypto have bought crypto not to use it, but to sell it to the next people at a higher price. In the Bitcoin wallet you have only 1 button - send. There is nothing else to do but sell it…

So you have people who can only sell and people who can only buy. The whole crypto is just that. A speculative tool.

Of course, there are a small number of people who really use it, such as Iran, North Korea, criminals, value storage, etc. but the average man uses it only for speculation.

When people expect to be able to sell at a higher price, they stop selling and wait. The price goes up as there are more buyers than sellers. There comes a peak in which things turn around. People start waiting to buy at a lower price because the price is falling and this continues until there are more buyers than sellers.

1 Like

Depends very much on the wallet you choose, btc core wallet has far mor functions than just send.

This is an often repeated phrase with regard to markets, but it is a bit of an annoying misnomer to me. Every trade has a buyer and a seller after all. To expand the phrase, it should be more people are interested in buying than in selling, so the buyers need to increase their bids in order to find a trading partner.

There are a few things going on. On the Bitcoin side, we have a recent halving of block rewards, which has historically preceded a bull market. We have the “money printer go brrr” meme in full force given government reactions to COVID. And another driving force is increased institutional involvement, like MicroStrategy, a publicly traded company, converting their cash reserves (~$450M) to Bitcoin, and Square also buying some.
There is expanded retail access with players like PayPal getting into the crypto game. Grayscale had also been buying a lot of BTC for it’s clients.

On the Ethereum front I think some of the run-up has been due to the beacon chain launch, along with the general crypto bull market.

5 Likes

With automatic market makers, you have no other side. If you sell wBTC in UniSwap for eth for example, you take the ETH, but your bitcoin stays there…

The AMM is the other side.

Let me try to explain the difference. We are both in a exchange. I have put 1 bitcoin up for sale. You come and buy 1 bitcoin. I’m leaving with your money, you’re leaving with my bitcoin.

There is nothing left on the exchange. It’s as if our deal didn’t exist.

Imagine the same scenarios in UniSwap. There is 1 bitcoin in it, you come and buy it. Your money stays in UniSwap for the next person. There is a difference. A very important difference that changes the game. The difference is in the price. The price exists for the next person to come to trade.

1 Like

yes the market is just being irrational. In times like these I think the best strategy is to remain logical and counter trade what these other cartoon characters are doing.

2 Likes

You’re right that people merely buying and selling is too simplistic an assessment. Fortunately, @drehb has already covered all the main points I would make. So, I’ll just (re)iterate: 3 simple things

  1. Halvening as reflects historical, cyclical performance
  2. Institutional position-taking/making as evidenced by PayPal, Citibank, etc.
  3. Uncertainty in global/traditional economic markets as evidenced by performance in fiat currencies, unemployment levels, etc.
5 Likes

Called it. :woozy_face:

Looks like the traders are happy with their mega gains, last few suckers pulled in by these $300,000 headlines… LOL.

We’re going to see $4000 again soon.

2 Likes

Hope you made a few sats to buy more maid :+1:t2:

2 Likes

:frowning:

Not a trader.
Not a bitcoin owner.

All in, full hodler, of Maidsafe.

5 Likes

No offense, long term maid holder here but you should better diversify it.

I have cash + maid.

Any good tips for diversification crypto wise?
Ill have a read over the holidays.

I think bitcoin is too hot at the moment though.

Whatever other crypto you take helps make the world a better place. The only way to change the Fiat system and stop the theft of value from future generations is if the crypto manages to attract enough money to build an alternative to the Fiat system.

I recommend you to study cosmos atom coin. I think It has a decent business model with good technology. But may I have a conflict of interest so do your study. :slight_smile:

https://info.uniswap.org/pair/0x684b00a5773679f88598a19976fbeb25a68e9a5f

Radix ltd. token eXRD did nearly +100% so SwissPrivateBanker is good influencer, or it is promising company :slight_smile:

Since when? Compared to what?
If you bought it right at the beginning (on his shill), you could buy 1 eXRD for $0,18, therefore it’s -60% (if you haven’t provided liquidity). But if you did, you got a reward which compensated all the loss and did put you in slight profit (in dollar terms).

Based on game theory, any price under $0,06 not very likely ever and if liquidity provides, you can triple your investment in 6 months (even if the price stays the same).

If you buy now, and liquidity provides, you are almost in exactly the same position as people who bought on 17.11. for 18c. As I calculated, if you buy for less than $0,071, you are in exactly the same position.

Just my 2 cents + no investment advice!

2 Likes

Thank you for info. UNIswap calcutations are little over mine head.

1 Like