Perishabull Posted May 26, 2017 Report Share Posted May 26, 2017 Cryptocurrency markets are still very immature, arguably they started when the first Bitcoin trade happened, back in 2008. My history in terms of trading is that previously I traded options, then futures, I didn't achieve any real success with futures, so I pulled my money out of my brokerage account December 2016 and started taking a serious look at the Cryptocurrency markets, since I'd bought Bitcoins back in 2014 and they were doing very well. BTC - 10d : 2mos : 32-months : all-data : Some sites I use; http://www.cryptocurrencychart.com/top/100 https://coincap.io/ https://coinmarketcap.com/ My original intention was to make an assessment of the top 100, but there are far too many, so I initially looked at the top 20. Of those I bought; Dash at about $20 on 19th February Ether at about $20 on 2nd March Ripple at $0.01 on 24th March (nearly an historic low) PIVX at $1.88 on 13th April (close to the top) Stellar Lumens for $0.045 on 16th May Humaniq for $0.052 on 16th May (a few days after the ICO) The largest positions I have are in Bitcoin, Dash, Ether and Ripple, I only put 1-2% of my funds into the others. What happened? The charts begin at the point I bought. Dash went up 750% so I sold a third on 24th May (for Bitcoins) Ethereum went up 2000% so I sold 20% on 24th May (for Bitcoins) Ripple went up 3300% so I sold a third on 16th May (for Bitcoins) (the next day it went to 4200%!) [/url] I sold the PIVX for a 45% loss (was originally small hedge for Dash and very small position of 2%). I sold a third of Humaniq on 24th May after a 300% increase to take my risk off the table. I also sold some bitcoins for cash. I am now in the very fortunate position of a having a free ride in the Cryptocurrency markets. These are the craziest, most captivating and lucrative markets I have ever seen in my entire life, these gains are completely absurd. The majority of money in these markets is pure unbridled speculation so there is a very real risk of a huge collapse here. It's very very tricky to value these assets, but because these are new assets with in some cases great characteristics, use cases, communities and backing, they could potentially become extremely valuable, one day. But not yet, I believe it's too early. I think that yesterday may have been a top in the cryptocurrency markets. Why? This is a chart of the marketcap of the top 100 crytpocurrencies. I can tell you from experience that this is not a sustainable direction for asset prices. These assets are overvalued. Current valuations for these assets I think reflect the value they should be once they have significant penetration and use in real world applications. Present valuations reflect an overly optimistic view. Here is how the Cryptocurrency markets looked on 27th November 2013 Very few have survived. There are some incredible dynamics in current cryptocurrencies that bear the hallmarks of reflexive processes. The market price history certainly seems to evidence this - I will try to explain this and post more on this later. Also I will explain what attracted me to the ones I bought. Advice - DO NOT store significant amounts of currencies or funds in exchanges. Anyway - I Must DASH (I used to post a lot on these forums however family work, other interests etc mean I can only pop in now and again.) Link to comment Share on other sites More sharing options...
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