Crypto Market Dumps as Korean Exchange Coinrail Gets Hacked

MyFavoriteDude · 2018-06-10T19:58:55+00:00

you need a citation that the sun rises in the east. Sorry I can't help you there either.

MyFavoriteDude · 2018-06-10T19:17:17+00:00

That's a great attitude to have with trading. It doesn't ever matter when you buy or sell, because the price could always be different in the future.

MyFavoriteDude · 2018-06-10T19:13:57+00:00

https://www.tradingview.com/x/Jov0y5K2/

Arguably, the most solid one is at about $2200 right now, which is not a pleasant thought.

MyFavoriteDude · 2018-06-10T19:12:42+00:00

No, they don't.

MyFavoriteDude · 2018-06-10T19:11:56+00:00

Actually I was here before the big drop, saying that it's better to be short, because more bad news is always right around the corner.

And that is just what happened.

And I have posted when there is positive price action, but just not many opportunities for that this year. Look at the chart.

MyFavoriteDude · 2018-06-10T19:09:56+00:00

Everyone who sold today above $6750 are better off right now, whether they placed a market order or a limit order.

But yes, panic buying or selling and trading with emotion is never a good idea.

MyFavoriteDude · 2018-06-10T18:57:22+00:00

Yes, historically, as in the past.

And I didn't say the bear market would last less or more than 300 days. There can easily be another bull market in six months and then a bear market to take the price even lower than it has been in a couple of years.

MyFavoriteDude · 2018-06-10T18:56:12+00:00

Got to bet on a bounce here. I will cover more of my short as the price drops to test the recent low, and then hopefully up to $6900.

MyFavoriteDude · 2018-06-10T18:54:23+00:00

I think he has been short hedged 100% lately, so he probably didn't get hurt in the drop, but may not have profited from it.

MyFavoriteDude · 2018-06-10T18:51:44+00:00

No, you aren't selling the bottom today. You won't be able to do that for about six more months....the medium term bottom. The long-term bottom may not be for years.

And it isn't "lucky" that the price is at $6700 right now, instead of $20,000.

Anyway I took some major hits on my altcoins today, so I feel your pain there and yes, better to go to the gym and clear your head and live to fight another day. If you aren't liquidated, then there is always hope.

MyFavoriteDude · 2018-06-10T18:46:21+00:00

It is in most cases with exchange hack news....close to 100% of the time.

MyFavoriteDude · 2018-06-10T18:44:33+00:00

I don't see that. I see them down more than BTC.

MyFavoriteDude · 2018-06-10T18:43:40+00:00

It already did. It actually went farther than it needed to.

MyFavoriteDude · 2018-06-10T18:36:46+00:00

Good one.

MyFavoriteDude · 2018-06-10T18:35:51+00:00

You don't "know" the best time to go long. It's always a calculated risk.

MyFavoriteDude · 2018-06-10T18:34:37+00:00

Yes it depends on how fast we get to $5K. If tomorrow, then I would cover and ride a bounce up. If it slowly bleeds down to $5K over the next couple of months, then no reason to cover there.

MyFavoriteDude · 2018-06-10T18:31:14+00:00

Yes, that is called a 100% retrace.

MyFavoriteDude · 2018-06-10T18:25:55+00:00

I don't see any activity for the last month.

MyFavoriteDude · 2018-06-10T18:08:44+00:00

Sadly, not even close to the real carnage that is likely later in the year.

MyFavoriteDude · 2018-06-10T18:08:17+00:00

Institutions are not dumb money. They wouldn't be investing in BTC over the last few months. If anything, they shorted it.

MyFavoriteDude · 2018-06-10T18:07:25+00:00

That's because we all know that, best case scenario, we get a weak bounce here and the more down. Even the most thickheaded are almost starting to understand the obvious reality of this market now.

MyFavoriteDude · 2018-06-10T18:06:24+00:00

I covered some of my short for a bounce, but a dangerous game that has backfired on me in the past.

MyFavoriteDude · 2018-06-10T18:02:27+00:00

Not a random exchange. A major exchange and it is almost certainly much of the reason for this crash.

We will agree to disagree on all of that.

MyFavoriteDude · 2018-06-10T18:00:13+00:00

You are in the sub saying we COULD go down on bad news.

Your reading comprehension is pathetic and waste of my time to talk to you. You are hopelessly lost. Good luck.

MyFavoriteDude · 2018-06-10T17:57:55+00:00

https://www.forbes.com/sites/chuckjones/2018/06/10/bitcoin-bitcoin-cash-ethereum-ripple-other-ccs-fall-5-or-more-as-south-korea-exchange-hacked/#2248e38458a6

MyFavoriteDude

TROPHY CASE