₦airaland Forum

Spider20:
Everything will get back to normalcy, No call for panic.
For BTC to reach a mark of $100k, A massive dip will occur at an early stage which I guess is happening.
Don't fret, stay calm above all be Patient....

I'm not calling for panic..... I've seen more brutal selloffs on Bitc0in
There are two sides to every market and I'm discussing both

Ibime:
The Eithy capitulation is shocking boss. Eithy behaving like a microcap. That ain't good news for alts since Eithy is their standard bearer

I think the pricing in is best judged from the NASDAQ (down 5% this week) and it may not be finished. I would expect a pricing in of such event for equities to hit 10 to 20%. Since BeeTee is the last buy and first sell for institutions, there may still be more downside.

Sometimes Asset markets will oversell to force the FED to choose between Asset markets and the real economy, so I don't think the rate rises are locked in. If inflation stays fairly manageable or improves slightly, we may start to see less hawkish tones from the Fed and a reversal of their stated intention. Fed always acts politically as no Administration will want to be the one that affected støckmarket and everybody's 401k, so they may still go doveish if Asset markets throw enough tantrum. I don't think the tantrum thrown so far is enough to forestall a reaction to 7% inflation just yet though.

Baba... Eithy go still respect it's oga... The loss of 40k was telling... Even a proper bounce didn't happen.. Either way, I'd expect buyers on eith to turn up 1.8 -2k level...

Good take on traditional markets. The stock markets still have room to dip... Not so much for Bitc0in. If they continue tanking next week, then obviously crypt0 may follow. Na why this weekend selloff dey one kind..... It's still a weekend move though and weekend moves are usually transient.

Let's see how today/tomorrow goes... But so far, I'm not trying to catch the bottom... When a proper bounce happens, it'd be obvious it has... Just that exchanges fit don go offline by then...e dey follow save market

Ibime:
Whether likely or not, you buy zones.

I planned to make my purchases at $32k and another one at $30.5k but I may start to DCA slowly at $35k. I even had a small order at $38.5k trigger today which I quickly sold at $39k when I saw the strength of the downtrend

I also have another thought which is the conservative side of me kicking in. Just fear of interest rate rises have brought BeTC down to $36k, and four rises are planned this year. Each one will hammer down on the price and we are already not far from $30k

Bosses in the house like nonut, nna777, Singapore1, Jedisco etc what sort of capital allocation would you consider for the $30k zone? Would you go all in, or save some capital for a worse scenario.

Hehe... Bitc0ins brutality no be here...

The significant levels on Bitc0in are 40k, 36k, 30k, 28k, 25k and 20k.
36k is really important... The capitulation on alyts at Bitc0in dipped below is telling... I'm watching to see if it can crawl back above or if it'd reject off it and head for 30k... Eith looks weaker and 2k seems locked in.

The rate and manner of this decline is making the final capitulation wick - one that flushes the market likely.

Alot of folks are calling 30k, but my thinking is that if bitc0in wicks to that level (without a very strong bounce), it's likely eventually flush the whole range....i.e take out 28k too...

Regarding the interest rate hikes, my take is that markets adjust and price in such events... For whatever reason, in any big market, it's extremely unlikely to have 4 capitulation events in a year... Even 2 sef.. They are capitulations for a reason. There's a good possibility that Bitc0in is currently pricing in those moves and would either just remain boring for a while or even rally into those hikes. Same way it sells off after each halving (which is supposed to be bullish)

It's difficult to call this one as Bitc0in can bounce at any of those levels... With Bitc0in, the bottoms are always obvious in retrospect.

phenzy:
Jedisco sir
What do you think about cream ?
Is it a good buy right now

What category of coin is cream and why are you interested in it?

Tyche:
Probably nothing

Hehe.... Harmony needs to really get good dapps up and running... I'd rather it does that before it starts building hype... Just like Luna
FTM has a strong community too

Sometimes, Bitc0in does run in weekly cycles...A pattern I've seen on many occasions.


I'd explain...
If bitc0in starts shooting towards resistance at about Monday and is still struggling to break that resistance by Wednesday/Thursday... Then usually they'd be a pullback to retest support below before another trial say the next week (if support holds).
The reverse is the case when support is being tested....

Not very often does a breakout or breakdown successfuly happen after 4-5 persistent days of trying.

Now to the issue at hand, Bitc0in has been testing 40k for a number of days now.... If things don't start breaking down today, I'd hazard a guess that there'd be a weekend pump before another attempt in the coming weeks... Just like 30k, the battle for 40k will be hard fought....

Malix:
I appealed and click on escalate, no so Binance block him account.
He called me today and return my money sharp sharp.

Should have done that immediately.
Tomorrow, he may come and say binaz blocked him from p2p. That's why I always ask anyone who says an exchange blocked them what they did.

Sometimes it may be a false alarm from the exchange, many other times, it's due to something they've done.

hustla:
Hello everyone

Abeg which app can I use to call Nigeria at cheap rates?

Tesco international calling app- charges £0.08 per min
Just came across Yolla. The rate is $0.095 per min though I've not used it

jedisco:
Still on the highway....
Why is this place so quiet and slow over the past few days?
Buy the dip, buy the dip... When the dip comes, all man go logout... Hehe

Hehehe....we still dey express but fight don start.
Who remembers the fight at 30k? E be like say na when market red wey people dey like fight.

BTW lets do a quick poll..

Like if you think 40k will not hold

Share if you think it willl

frenzydilz:
All ri. Thanks. I’ve got 117USDT there. Please send me the link

I was expecting this response hence I put in the search phrase I used. Surely, googling it wouldn't be that difficult.

frenzydilz:
They said I churned bonuses. I don’t know what that means. They never gave me any bonus.

I did a quick search of 'churned bonuses bybit' and it seems some others have has similar issue. If you have funds there, they have a subreddit where moderators answer people's queries.. If no funds there, you can as well let the exchange be.

Chikacha:

The fear now is where is the bottom of this dip?
No matter how you DCA the dip just seems to swallow it up and ask for more. Bottomless dip.

Hehe.. when the dip keeps dipping

jedisco:
Still on the matter...

Who remembers pi coin mainnet launch scheduled for December... Any update?

Seems the airdrop gang has taken over from the pi crew

Still on the highway....

Why is this place so quiet and slow over the past few days?
Buy the dip, buy the dip... When the dip comes, all man go logout... Hehe

jedisco:
Really contemplating if I should take profits on Ada at 1.6 and re-enter at 1.4..... just for some quick bucks... Any advice house?

This happened so quick I didn't even have the chance to trade it... Mapping out a plan and trading it are two different things

frenzydilz:
Stay away from Bybit. If you already have funds there, don’t attempt to withdraw.

Which of their terms did they say you violated?

Mumben:
@ jedisco, pls what's ur take on One, I saw a news about it on binax today but I don't understand it, they talking about emergency upgrade. Is now a good time to buy?

Yeah... The network was experiencing some issues...From what I gather, it looks like it was spammed by excessive transactions. Teething problems for a new chain I'd say. Good it's not affected price so far

jedisco:
Took most profit against usd between 0.36 and 0.38. I still have 2 sell positions open. The first in usd at 0.395 and the last in bnb at 0.0..8 (hope it hits). I plan to compound my position by scaling back in in USD at 0.3. If that dip happens, I wouldn't be selling this level on another rally up as I don't want to miss a breakout. That said, most alyts will struggle to break and maintain new highs with Bitc0in being well below it's weekly support.
Also to note that the portion of $one I'm trading has been already allocated for that purpose. About half of my $one bag is being staked and not traded.

Regarding entry, I'm still sticking with plans in my quoted post. Bids at 0.3 and 0.28

Dtruthspeaker:
Which is Proof of the Fact that people do not Fear God.

And that they only run to Him because of they do not have good things!

Not true... Even those with good things still fear God

Kaybee7000:
@Jedisco,abeg dey try put it in simple way for people like us to understand!!! As in is the coin describing should b bought or not!!! TENKS for ur effort sir

My advice to folks who ask this is simple.
Split your money in 2, buy Bitc0in and eith with each portion. You'd outperform over 75% of folks in crypt0

Kaybee7000:
Lolz I wish I understand all these things here cos only thing I always look for is where a specific coin is stated either to buy or not but find it difficult here

In everything, striving to get knowledge is paramount.
Are you saying that if I say go and buy coyn A, you'd go and buy without asking why?

I understand alot of people came into crypt0 in early 2021 when everything was pumping. But as you've remained this long, then it's your money we're talking about and if you're investing significant funds in crypt0, you should be ready to do the hardwork.

You are the one who'd justify the reason why you want to buy a coyn
Crypt0 is very rewarding to those who spot the trend before it becomes obvious.

True talk... Most items Nigerians fast and pray for are common things in other climes. E.g travelling and praying against kidnappers or armed robbers

@house

Asides binan and kucoin, what other CEXs allow p2p for Nigerians?

Tyche:
Cc Jedisco.

Lmao

Hehe

Ada needs to put its house in order. Layer 1s aren't smiling....
If dapps don't start getting deployed soon, it might just go the way of oltc, bch and the other dinosaurs.
Cos at the end of the day, even when it's smart contracts are up, it'd likely still be the usual defi yield projects we're used to.

DieRich5:
it's going to be long AF I go happy for Dem if Dem can sell it
the rate people are waiting to sell is too much self, it's one time pump Dem everyone will sell off

Hehe... I believe when it goes mainnet, folks would see it's tru value and stop wasting their time in the name of mining. For now, na to hope say e go blow

XaToXi:
DCA it is then.

It might take a major btc dump to see Ada at $1 though.

Probably when btc revisits the $39k-$36k areas.

On Ada, if deploying fresh fiat, I'd want a very good entry.
It's smart contracts have been slow to get going and other smartchains are moving forward quickly. Crypt0 moves very fast and it needs to get those running soon. Those will drive demand cos now, it's beginning to look overvalued.

Still on Luna...


Recently, I moved part of my Luna from a cex and staked it on Loop finance which is one of its native defi apps. The process was so easy and a joy to use. Cant compare it and offerings on binaz smartchain.

Brings me to the main point which I've raised before. That for a smartchain to survive, it really has to do something better than eith. So far, the selling point for most chains competing with eith has been quicker transactions with lower fees- which to me is not enough. With eith 2.0 set to address these, most of the smartchains might not survive well into the future. So far, Terra (Luna) seems to be the only other chain that has clinched a niche for itself. Their synthetic coyn offerings are fantastic. Even DAI which is a synthetic stable coyn on eith doesn't hold up to Terra's UST.

Another thing is the amount of dapps on Luna. While other major chains are encouraging developers to deploy many dapps, Luna seems to have taken the path of quality over quantity. It's Station mobile wallet is fantastic. It's major dapp called Anchor is the best stable coin defi platform out there. Easy to use with an apy of abt 20%. BSC on the other hand has lots of dapps that are pretty much useless or repetitions of others.

My 2 main concerns with Terra are decentralisation and regulators. It's far from being as decentralised as eith and which gives regulators a centralised body to challenge. Similarly, I believe synthetic stables would challenge the thinking around current fiat currencies we know and it's only a matter of time before regulators come knocking.

Jerry59:
Impressive analysis Jedisco.

Luna below 65 is juicy enough

Yeah... I'd agree...

But looking at the monthly chart, I get concerned. It's been 7 months of straight green... Sooner or later, things would stall around a local top and reaccumulation would occur just like early last year. The chain is fantastic and has room to grow. Hopefully 100 USD is not that local top cos I was relatively late to Luna

Just noted than TVL on Luna has surpassed that on bnb. With Luna having a much lower cap, this gives it a juicy mcap/TVL ratio....
Of course, other factors need to be considered but with the amount of ust printing going on, things aren't looking bad for luna. A 60 USD Luna (if it comes) should be a good buy

Thoughts?

1

Still on utility and selecting tokens based on underlying tokenomics...

I'd take the binaz token (bnb) and it's smartchain bsc and look at its tokenomics...
First, it's an exchange token meaning that during any bull market, it's exchange would pump it to attract more retail. Also binaz is the largest exchange and trading fees are lower if paid in bnb. So more demand

Second it's also a layer 1 for it's chain meaning that all fees on the bsc chain are paid in bnb. Also some of the bnb used to pay fees are burnt. This also means that bnb is the most traded asset on it's chain and holding bnb would give one room to get different airdrops. More demand

Thirdly, it has agressive underlying tokenomics as half of its initial supply of 200million tokens would be burnt eventually. This is done routinely every 3 months. The last one just took place and over 1.5 million tokens were burned. Less supply

That's alot of utility. It's obvious that bnb would outperform any bsc token in the long-term- It's just common sense. Hence why most of my bsc allocation is in bnb.

Now to the cons of the chain...

It's still seen in the wider crypt0 community as being too centralised. This has kept major developers at bay. Hence some of the best defi projects e.g aave and curve are not yet deployed on bsc.

Also, the chain does not stand out in any way. For most chains to survive the long haul, they need to do something different asides faster transactions and cheap fees. Take terra for example, it has connered the market for synthetic coyns and doing it well. The main synthetic stable coyn on bsc which is VAI has been unable to maintain its peg to the dollar for months now.

Lastly, when one looks at the TVL to mcap ratio, it has the highest score which makes it bnb look overvalued at it current price. To explain, The market cap of bnb is very high but the value of coyns on it's chain has not kept up as much. So far, I'd put this down to two things; Viz binaz unlike other chains is mainly retail driven. This is not the best as projects can be overhyped. The second would be the underlying tokenomics of bnb explained above which means that the valuation of bnb is not based on it's chain alone unlike other layer 1s

EmmanuelScott1:
Bro jedisco, I want to ask something, did you check 5yrs chart too?

The highlighted 5y means the timeframe that should bevisible on the chart... It's a monthly chart as each of the candles represent one month of pa

XaToXi:
Playing it level by level sounds like a good plan as Ada is known to respect levels.

However since January is Ada month, I'd leave a moon bag in case it shoots past 1.6 :

50/50, 60/40 or 75/25.

I agree, but then, ada can surprise, but after weeks of selling, it might have formed a bottom... It's so far from its previous ATH and hence it's got lots of room to rally
Personally, I was waiting to get in at 1 USD....

SolarE:


Someone mentioned it here, that is good for a long time investment, that is why I ask boss.

Thanks Man.

Then it's worth looking into if you're considering it.
Of recent, I'm more keen on coyns that have some underlying utility with potential of being deflationary in future. By this, I mean layer 1 tokens who are used to pay fees on their individual Blockchain.