A ‘bloody crypto’ Memorial Day weekend?

[johnarb]

I trade quite frequently penny stocks, it's just that the algo I wrote seems to favor these types. Crypto kind of reminds me of penny stocks - the speculation, volatility, strong breakouts, acceleration and backed by nothing other than optimism.
The thing with pennys from my experience, they can languish a year or two and drive active traders crazy. So, much patience required for holders. The other thing, trading pennys,

 

[They]

Crypto kind of reminds me of penny stocks - the speculation, volatility, strong breakouts, acceleration and backed by nothing other than optimism.

But with more volume and 24/7

 

[themickey]

Not looking healthy

 

[johnarb]

Not looking healthy

Could be a good time to stack some sats while it's still below 1 US cent?

https://coinmarketcap.com/currencies/satoshi/

 

[themickey]

Could be a good time to stack some sats while it's still below 1 US cent?

https://coinmarketcap.com/currencies/satoshi/

I'm out of my depth here, but isn't Satoshi perfectly correlated to BTCUSD?

 

[johnarb]

I'm out of my depth here, but isn't Satoshi perfectly correlated to BTCUSD?

It is! A satoshi is 0.00000001 btc

1 penny per satoshi means $1M/btc

 

[Saltynuts]

 

[Ed48]

Not looking healthy

Agreed. It doesn't look like just a pullback. It started to run out of steam in March and by April it looked like exhaustion was starting to set in.

The 200-dma gives quite a few false signals but it's not a bad bellwether.

https://bitcoincharts.com/charts/bitstampUSD#rg1460zigDailyztgCza1gSMAzm1g200zm2g50zl

 

[MrMuppet]

Welp prolly because most trading is done by US speculators who have money to burn.
I mean, it is BBQ season.

Nah, that's not correct. Most speculators are in Asia. I mean, US citizens aren't even allowed to trade derivatives

 

[Pricechange]

Why do I get the feeling themickey uses this forum to troll up anti chinese emotions when all we want to do here is learn to trade Unemotionally? Australia had NO complaints back when the Chinese were buying over priced beef and over priced wine and over priced real estate ect... let the Australians fight their own battles themickey and leave this forum to trading. themickey getting to be an expert at trolling and baiting emotional daily Posting.