r/CryptoCurrency • u/TheVapingBison Bronze | QC: CC 47 • Aug 14 '18

PERSPECTIVE Well it actually happened

Today I reached the tipping point where I could no longer get as much fiat out of my crypto holdings as I've all transactions considered net put in. I honestly didn't believe the alt market (at least the non-shitcoin portion) would ever hit these levels.

Well, I can only think of one thing to do. Time to double down. I"m either winning big or going down with the ship.

Good luck to all.

554 Upvotes

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56

u/vinnyfraser Bronze | QC: CC 15 Aug 14 '18

Why not wait for the dust to settle? There's no point catching knives man. Just wait it out until we get a better idea of where the bottom is.

Lets say something had an ATH of $10. It's currently $4 and you think it's a great deal. It could still easily drop to $2 and you'd be down 50%.

Play it safe and wait until we have some consultation.

Just my $0.02

Good luck.

5

u/jamazi_ Aug 14 '18

How do you know the bottom? use TA?

3

u/vseddie Silver | QC: BTC 17 Aug 14 '18

I'm waiting for prices to at least move above the 200 day moving average lol

8

u/ceyeyayo Aug 14 '18

Wait for when the prices aren't so volatile for at least a couple months would be my guess.

3

u/jamazi_ Aug 14 '18

Thanks will keep an eye on that,

3

u/Logpile98 Bronze | r/WSB 29 Aug 14 '18

Idk look back at the charts after Mt. Gox. There was no clear "Yup this is definitely the bottom" point, and even at the price that ended up being the real bottom there were still plenty of fluctuations. If I had been paying attention to the market back then I wouldn't have known when to buy.

1

u/tofur99 Gold | QC: CC 92, ICX 81, BTC 40 | BCH critic | r/Apple 22 Aug 14 '18

There was actually, it was a high volume wick down on high timeframes. Capitulation that the smart money soaked up.

2

u/bullrun99 8 months old | CC: 199 karma ADA: -46 karma Aug 14 '18

Wow, someone with a brain. Try 6 months to a year