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heavey (59) in cryptocurrency • 7 years ago (edited)

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7 years ago by heavey (59)

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pbgreenpoint (68) · 7 years ago

I'm going to stay diversified. I'll probably just hold throughout...I'm a long term believer in Cryptos, so I have the patience to wait through some turbulence.

heavey (59) · 7 years ago

It's your call mate :) I do believe in holding long term but I also think that holding is not always the best option

For example, in the last crash, if you had sold and bought back in again at the bottom, you could currently have twice as much in comparison with just holding :)

pbgreenpoint (68) · 7 years ago

Great point, but I have no idea how to find the bottom nor the top. I would just be guessing. Hindsight is always 20-20.

heavey (59) · 7 years ago

Nobody does, that's the the fallacy of it! I do my best to find near to the top and bottom though; anything above 60% is very good really. If you were to consistently manage that in a market, you're going to make some very good profits :)

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laurikoskinen (30) · 7 years ago (edited)

I'm just grabbing NEO on the fire sale it is right now and keep pumping that GAS!
Lisk is my other pick for September as it's rebranding should be finished by then and they are also launching a massive advertising campaign.
I see BCC quite risky, as recently 97% of it's hashing power was held by an unknown entity.

laurikoskinen (30) · 7 years ago

September there are also several ICOs coming on the NEO platform.

heavey (59) · 7 years ago

Fair play mate. Personally, I think that how good a cryptocurrency is makes very little difference if the market crashes. Even the best ones are dragged down when the whole market crashes, just like last month in the lead up to Segwit2x but each to his own I guess :)

laurikoskinen (30) · 7 years ago

I suspect we won't see such dramatic crashes anymore. The influx of new money (especially institutional) is already so massive and steady that it mitigates the impact. Koreans especially seem to pour fiat currency in all cryptocurrencies currently available to them.

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jungleblockpower (34) · 7 years ago

This is my first resteem. Im isually drawn more to positive outlooks about the crypto market, but I like your simple solutions to the btc issue. Im a head in the sand type of person because I usually feel better doing that, but something rang true about your write-up. I like that you stayed optimistic about the crypto market as a whole. Overall it help the community morale and is more inviting to newcomers. Great post. Am following you starting.....Now.

heavey (59) · 7 years ago

Thanks pal, yeah I 100% believe in the crypto market and I know it will rebound just like it did before but we might as well take advantage in the meantime!

It's very hard to predict though, especially with Bitcoin Cash being so unbelievably new, and I've kind of gone out on a limb with my prediction so don't invest everything! I'm only committing 5% and this won't be for another few weeks still :)

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razyfired (25) · 7 years ago

This is such a critical point i liked from this post. I think optimistic approach for cryptocurrencies and crypto markets is proving to be such an important factor that is imperative to be considered especially for people who have know-how and some belief in its underlying use.

Speculative nature of these markets makes it hard for anyone interested in crypto and its uses from monetary standpoint even if they find the technology ground breaking. It genuinely helps the crypto community as a whole let alone any new coin on the block.

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glutton4info (45) · 7 years ago

Great post. Love the information and honesty. Look forward to your repost on this topic in Sept. I tend to agree with you on most points.... Cheers ... Upvoted

heavey (59) · 7 years ago

Thanks pal, I will make sure to write another post when I actually decide to make the switch :)

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deesunshine (48) · 7 years ago

What do you think? Will people go scurrying to Ethereum? I have even heard people predict that Ethereum will overtake Bitcoin.

hotsauceislethal (64) · 7 years ago

Bitcoin has the first mover's advantage BUT Ethereum came in and said "Hey I can do everything Bitcoin can do AND more for less, oh and it'll be faster too." Pretty much a game changer once they implement the next phase in Ethereum's roadmap...

heavey (59) · 7 years ago

Could do mate. I can see the possibility of that happening but I think it's a big risk as Ethereum actually crashed harder than Bitcoin last time.

For me though, the best currency to back will be Bitcoin Cash because it's price does the exact inverse of Bitcoin; when one goes up the other goes down. As I believe Bitcoin will crash, I think BCH will go up quite a bit :)

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deesunshine (48) · 7 years ago

How does that work? That Bitcoin cash goes up if Bitcoin goes down?

heavey (59) · 7 years ago

Bitcoin Cash is viewed as the alternative to Bitcoin within the Bitcoin community. Therefore, if people become concerned about the future of Bitcoin, investors will often switch their investments into Bitcoin Cash instead.

It is because of this that their prices are inversely related :)

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deesunshine (48) · 7 years ago

Thanks for explaining. I'm a newbie and this crypto world is bewildering. It reminds me of the first ever time I touched a computer, back in 1994.... my noodle is getting blown again. I wish I had a nerdy, eloquent friend who would help me through all this, especially as I am trying to buy some cryptocurrency, and it seems like a minefield.

heavey (59) · 7 years ago

Haha mate I know it's not easy! I am leaving uni soon and will be researching and posting full-time so hopefully you can learn a thing or two from my posts too :)

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cryptostache (60) · 7 years ago

Great evaluation on the upcoming 2x implementation! I think you are spot on with most of your predictions, but I don't know about moving investments to Bitcoin Cash.

Will you be moving back to Bitcoin during the downtrend for a profit then?

heavey (59) · 7 years ago

My plan is to switch some of my portfolio to Bitcoin Cash in a couple of weeks before the crash that I believe will happen. Once the uncertainty surrounding Bitcoin is lifted after this, I will most likely sell all of my Bitcoin Cash.

However, I do also believe it's possible Bitcoin Cash will overtake Bitcoin, depending on how the miners react to the upcoming Bitcoin changes. I'll be following it very closely though and will assess nearer the time :)

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cryptostache (60) · 7 years ago

Hmmm I hadn't thought about that last scenario... Bitcoin Cash taking over Bitcoin, that would be crazy indeed!

heavey (59) · 7 years ago

Yeah, it's unlikely and probably won't happen but I do think it's possible. Most likely though, I think Bitcoin Cash will just surge during the uncertainty surrounding Bitcoin and then Bitcoin will recover it's position once things settle down.

At this point, Bitcoin Cash will most likely fall as Bitcoin rebounds. I plan to try to take advantage of this change in the market. However, Bitcoin Cash is very new and nobody really knows though so I'm not going too heavily into it :)

stygai (25) · 7 years ago

Thanks for this thorough article, upvoted and resteemed! I'm quite new in the game and last time when the market crashed I lost a lot and had no grasp on what to do. Now I think I have a better chance to survive the next fork.

heavey (59) · 7 years ago

Good luck to you mate! Just remember to remain well diversified throughout the entire time and don't go all in on Bitcoin Cash.

After all, I'm the one who think BCC will spike and even I'm not all in on it!!

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linetrash82 (42) · 7 years ago

I knew about cryptos for a while just never got into it. I'm just starting to and this was some very valuable info that I will be looking to and comparing in the future. Thanks and God bless

heavey (59) · 7 years ago

Thanks pal! I post regularly about these sorts of things so don't forget to follow if you're interested :)

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kouba01 (81) · 7 years ago

The frok is estimated to will be happen in November

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heavey (59) · 7 years ago

I think you may have not read the article haha

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hilarski (76) · 7 years ago (edited)

I am not worried about it one Satoshi.

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booster (68) · 7 years ago

This post has received a 11.60 % upvote from @booster thanks to: @heavey.

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randowhale (67) · 7 years ago

This post received a 4.1% upvote from @randowhale thanks to @heavey! For more information, click here!

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