Bitcoin Forum

Bitcoin is at 16k$ again now, and the DeFi tokens and most of the Alts are in red mark again. What are your thoughts on this? Would Bitcoin break 16K$ and make its new ATH? Or would it have pullback again? https://crypto.co/news/crypto-markets-correct-resulting-to-defi-tokens-bleed-out/

So many people are believing if bitcoin will touch another ATH again maybe the first quarter of next year. The bleeding that happened with defi coins caused by so many people realizes if the defi trends have ended and they have been migrating to trade bitcoin and another major coin.
The weekly gain of major coins has shown it. They were looking for the more opportunity.

I'm not surprised, it always happens like this, when bitcoin is surging every altcoins suffers at one point and again bitcoin dominance is high too so I don't expect any big correction for altcoins presently but when bitcoin runs out of power I believe that's when altcoins will break the bear chain.

Defi's craze didn't took long. I knew it that they are like the ICO and IEO that wouldn't last and that's why I didn't focused and invested on it.
There will be a pull back as expectation every time that it breaks a high wall price. Each time it reaches the ceiling, the prices goes into correction.

We have been talking about this possibility for a long time, when the price of bitcoin is not doing much it is natural for investors and traders to look at other coins in order to make money and when there is a hype as big as the one that was generated by the DeFi coins then it was natural that a great deal of money moved there.

But most people care about their wealth in bitcoin terms so as soon as bitcoin demonstrated that it has the potential to go up in value all of that money returned to bitcoin and now those projects are being affected, it was not difficult to predict and now all of those still holding those coins have a dilemma, do they keep holding thinking the market will recover or they sell their coins and realize their losses?

The way things are now, it is better to be in Bitcoin until, it hit $20k, after the $20k phycological level, I believe Altcoins would rally hard. the issue now is that the Altcoin market is not decisive due to the recent correction, when Bitcoin settles down, I can see hard pump from Altcoins

The defi trend is almost out of hype.  Now is a very potential time for investors to collect bitcoins.  so it seems that the entire volume is geared towards Bitcoin and the top coins. If the situation is so bad, I think you should stop speculating with the current Defi projects. Let's wait for Bitcoin to cool down and investment will not be late.

IMO the DeFi bubble finally popping doesn't necessarily explain the current sea of red in the altcoin market. My take is that btc finally going past the 16k barrier (although it went down again) finally triggered altcoiners to dump some of their bags and buy some btc

But this is just a fantastic opportunity to buy cheap alts, kinda like an early Black Friday but in the altcoin market, fine by me, just waiting for Monero to go below 0,007btc and i'll buy some more (:

new ATH will created by bitcoin but not in this month, maybe next month or next year my friend
but i believe before bitcoin price surpass the past high price a little corrections will coming then most of good altcoins will grow including defi type project

its just temporary though. we all dreamt of decentralization and the development never stops, it started with DAO before BTC even reached its ATH. it took years to reach the defi status as of now.

the money just flow to BTC because everyone wants money. who wouldn't want money? i even sold my coins for BTC move out from defi and uni for now but many will still be back once again. defi and whatever maximalist shouldn't be divided since we are all in crypto after all.

I don't give F for Defi.

But for Altcoin, we are still on the normal situation because when bitcoin gain up then altcoin with bitcoin pair will gonna to down. But let's see from positive side, altcoin estimation USD raising month by month reaching a new level one of the example Ethereum.

I don't have any problem at all because of that.

You have to move your thread to this board https://bitcointalk.org/index.php?board=57.0 since you just create a speculation about bitcoin price movement and you have to be aware that now you are in an altcoin board.

As for bitcoin price movement, indeed bitcoin has touched $16.000 even I believe we can't see bitcoin touch below $15.000 in my prediction, it can't be wrong. The first target for all investor are $20.000 because previously we have seen it a few years ago and bitcoin should touch this price first before going higher rather it.

Now, this is a time for us to collect bitcoin as much as possible. You may have to hold it for a few months ahead and let see what will happen. Also, I haven't seen a correction that will come especially a big correction in the near time, so now we are in the accumulation zone that will make bitcoin price still increasing to $20.000 for the first target.

But be careful buying alts, only those with strong foundation and market presence. Not many alts are worth buying. And as you mentioned Monero, I believe that's a good alt to stack. And also, most DeFis are bleeding out because they don't have use case in the first place. Most of them are just pump and dump tokens and will disappear very soon. They are copy cats of copy cats. What more can you expect from a defi hype, with lots of crap projects?

If you are concerned about the price of the altcoins then you can do few things at the moment.
1) go, sell all your coins and do whatever you can in real life.
2) Flip your alts for btc or eth to take first mover advantage and when you see prices crashing you can exit again, sell with profit and enjoy your life.
3) another point that people here have started talking about is that btc can surprise us and reach new highs by the end of december.

alts just gonna gets crushed until it starts increasing its price. always like this and don't expect any alts to follow bitcoin's price trend because btc is taking up alts market cap proportion right now but btc's ATH is around $20k so if btc gonna hits new ATH it's still gonna take quite of time.
Just don't expect alts more specifically defi to be rising anytime soon because it won't. people are converting their alt to btc right and left.

I am not surprise with this, people saw how bullish bitcoin is so they take their money out to invest in bitcoin. Believe me, once bitcoin's pump is over and soon there will be correction, slowly some of it will go back to altcoins and will try to make the market still lively again despite a possible bleeding of bitcoin once correction starts.

I believe BTC would hit $20k this year and when it does the Altcoin rally would start, let BTC does it thing, we all agree for now BTC is the king and no other Altcoin is there to truly challenge this. If I were you, I would focus more on research and the good projects I'm looking to invest into, Altcoins are on sale now grab yours

I am looking at the coinmarketcap rankings, coins, tokens, all, and everything looks fine? Why would they bleed out just because bitcoin went up? Why would market gets a correction when it is still going up? I feel like things are looking mighty alright for everything so far. Obviously that could change later on but for now everything seems to be doing just fine.

Maybe in the future when defi becomes something boring and there is something much better come along that could cause them to bleed out but in order for that to happen we need a better tech to take over (just like how ICO was done and defi became better) until that happens we are not going to see any change. Do not hope for coins to go down, that is bad for the whole market, hope it either goes up, or at worst stays same.

Yes, that's what's happening lately.

Money from the Defi projects is going out and being sold for bitcoin. And those investors are wise because they don't want to be left by the train. We can say that it's not yet over for defi.

Because once these investors are all together and start selling, money probably will come back to defi.

Defi tokens, mainly uniswap is just starting out, I am giving you example of uni because that is the biggest and most known one but obviously there are tons of other big and small defi tokens that we could take as an example here. The big ones, the ones that are used and has a utility and basically all around a demand for it, will continue to rise, maybe not right away but for a long term investment they are great because they are used and there is a reason why it should be bought and not just for investment reasons but for using it.

So, if you wait long enough it will be used and it would definitely cause them to go up. However this may take some time, I don't know if it will happen today or if it will happen in a year but these are steady increasing coins just like BNB.

I dare to suggest that it hasn't been long before DeFi projects can reach their full potential. As always, the first excitement was very strong, because a hurricane began to happen around these projects and, accordingly, cryptocurrency users flocked like bees to a flower to be the first to collect the best pollen. But further growth will continue only at the expense of the leaders in this industry. I guess the next in line is King Swap.

A lot of predictions were made and everyone expected that next time bitcoin would hit ATH again and break through. Through this growth, the Defi market will wake up to its true worth, projects with the hype from DeFi that have not been able to operate will have to end and it creates a market with many quality projects than.

Those quality project and with real use case for sure will stay in the market. That's given already a lot of predictions happen, so you always have to be updated about the market value. This is not a suprise actually once bitcoin increase the alts decline. So this is also an awareness to do some research before we could invest and go with the trend hype of this defi.

But atleast it's gonna show the true worth of these defi tokens. Usually the useful defi project ones are not gonna be affected that much but the shitty ones gonna have a hard time but i agree with your statement that price decrease in most of defi tokens doesn't mean the hype dies out it's just bitcoin have significant effect to its surround altcoins that it's obvious its gonna affect many of projects including defi ones ofcourse.
However once bitcoin has reached its peak maybe these defi project gonna start rising, even as of now when bitcoin kinda stagnant some of defi projects already regaining momentum

An uptrend marker still ongoing, as we can see bitcoin price hasn't met a big correction. Different with has happened a few months ago when its price met a correction, it price just decrease to $10.000 after its price up to $12.000.

We still hoping it, but the focus all investor is $20.000 as its previous all time high three years ago. At least by reaching this price, we can prove to everyone out there that bitcoin is not a bubble. Bitcoin will always has a value no matter how big the price crash but we recover it.

As for altcoin price movement, I think you are wrong if you say its price just decreasing when bitcoin price is increasing. I see the market movement, altcoin season will come when bitcoin price has tried to increase and meet a correction. When thr correction comes, we will see almost altcoin price are increasing.

Obviously it is going to take sometime to just get back to what it was during the early days, tokens like uni token reaching over 8 dollars was silly because it didn't worth that much and it shouldn't have, but it is doing fine right now and with time it will worth that much, doesn't matter if the price will be there or not sometimes things are undervalued compared to what it should be, but UNI will be over 8 dollar in value for me, even if market disagrees.

This however will take sometime, we need to have a bit of settling the dust and seeing what could happen before we could actually start dealing with these things. And I would love to tell people that they should invest into them right now and take advantage of the future potential but people should also be very careful about scam projects in defi world as well so it is a risky move.

Correction is happening right now but no one can know if this is just a normal correction or a way to go down deeper again, and the situation of altcoin is normal since Bitcoin is pumping. DeFi is not done yet I believe and I know they will continue to increase until the end of the year but only those good project will recover again. Bitcoin have to stay above $15k to protect the up trend, or else another downtrend will be seen.

Market right now is just kinda consolidating Looks like we might hit some bears before things begin to really pick up but still I wont expect bears to last any long Just dont let weak hand deceive you Market still bullish from the look of things

Well, yeah lots of investors gone crazy mad with the Defi and putting all their investments in it without thinking of the risk they are going to. And what's worst is that when they lose they can't do anything but to just rant. And even the Defi Airdrop they are really enjoyed participating in it and in the end, they just lose with the gas fee they used. So sad that they easily got lured with this Defi hype projects.

That is always a possibility but I am not really convinced that is going to happen, the enthusiasm that we are seeing in bitcoin is increasing and while we are not yet at the levels we saw in 2017 we are getting close, the 20k level is getting so close that people can even smell it and they know that soon we will get there, the only way I could see this not happening is if all of this was a plan by the whales to try to hype the market and then dump their coins and make the market crash.

But such a strategy will come with incredible risks for them as it is possible they will not be able to get out of the market in time and lose money in the process as well, so I do not think this scenario is likely, what I think will happen is that once the price hits 20k people will go crazy and buy all the bitcoin they can making the price of bitcoin to go up and the price of altcoins to crash as more money from the altcoin market comes to bitcoin as the potential for profits becomes higher in bitcoin than in the altcoin market.

This is really hard to predict right now, because most altcoins was really struggling to go up higher. As bitcoin soar higher it pulled down the value of other coins, and there's no progress happening because it still not growing a good price. My thoughts isn't that good, but we need to be strong for the holdings that we had and don't panic. If we lose hope then nothing will happen but failures in the end. So have a strong determination and don't give up as long as cryptocurrency still exists in this world.

Defi projects are like ICO'S before thier season is so short. Thats why it is better to invest in long term projects like bitcoin and some strong altcoins if they want continues profit, and not on defi which is pure hype then dump.

If you are concern about Defi's Falling then all i can say is that time has come and those manipulators already taken their bags of money.

Like what happen in 2018 that many has predicted this few months ago it is the time and look at them,almost every defi coins are going back to the value they have before the pump.
and also others are seems to be dying lol.

I think this is from those who rides the popularity of Defi recently and from bitcoin they transfer their funds to Defi thing to make easy money.
And now that the party is over they are withdrawing from Defi and returning back to Bitcoin and some alts.
This has been expected because of the unbelievable market shake from Defi in which not normal  :o. But happy now that we are going back to legit coins in holding.

I believe that this will be the end of defi project trend if the Bitcoin continue to increase more of the new project from defi can't survive this since altcoin will be so much affected in price correction. there are altcoins that can survive but most of them cannot and this time no one want to spend money for hype project like defi if they don't want to experience the  same in 2017-2018 ICO trend.

It's better to secured your money to Bitcoin or other popular crypto currency than in defi .

most of them are already been bleeding even before when btc starts moving out of its 10k comfort zone but there could be new coin additions that starts to bleed by the time btc pass the 15k usd mark and i think btc just break 16k but this wasnt its new ath . last ath was at 20k if im not mistaken so btc needs to push over than that point to be able to official claim that btc reach its new ath . lets not hope for the worst that could happen such as pull backs because this does happens all the time , it was inevitable and annoying at the same time

Why do people expect altcoins to suddenly drop, what makes you think that way? I mean it is obvious that they are not dropping, so why focus on altcoin prices dropping when in reality it is not dropping at all?

Maybe it is because once upon a time when bitcoin first went up a month or so  ago, altcoins went down instead but that shouldn't really change your minds from the facts we have, ever since bitcoin moved from 10k to 18k now, we are seeing altcoins rise as well or maybe even better, ethereum literally went from under 300 to nearly 500 at the same period, how could you not see that as a win? In any case, if you think bitcoin will go up while altcoins go down, just invest into bitcoin and that is fine enough, but I am going to keep my investment in altcoins.

This is my problem with DeFi projects, they sell themselves as if they are the next big thing and yet by the time that you hear something about one of those coins the coin is already on his way out, and I'm not talking only about the price I'm talking about everything surrounding those coins, as soon as the project becomes popular enough to gain some of our attention the project is already dying so I do not really know how the developers behind those coins are expecting to make any kind of mark in this market when their projects only last for a few months.

So I'm not really surprised that as soon as the price of bitcoin went up and it did in a way that was sustainable a great deal of the interest in those coins disappeared almost overnight because people know that whatever profits they can get in DeFi projects are going to be offset by the losses in other DeFi projects.

Im not sure about that will happen easily. people were getting scared caused by defi seems easy to be exploited by the hackers. Did you see the latest case about the defi hack? So many people were talking about that and they have been thinking to never join in any other defi trend again. 20 million dollars got hacked from the defi project.

Bitcoin has already set a new ATH and as expected a lot of altcoins are suffering from it and not only Defi projects, and this is seen in the high dominance of Bitcoin which has been increasing so far which also means that, investors finds Bitcoin a more better and preferred choice. Therefore with the high dominance of Bitcoin, many altcoins will still keep bleeding especially those with nothing good to offer, hence the Importance of reviewing our holdings to make sure we are holding the right altcoins. Lastly, the whole attention in the market seems to be towards Bitcoin and a little to top altcoins, therefore any upcoming DeFi project without any good use case will be at the mercy of the market, since there have been divided attention already and a lot of people are not ready to pull out of Bitcoin yet.