In some very famous banks, they have put cryptocurrencies, the most common case that I always like to put it as an example is JP Morgan, because his clients were demanding that they could operate with crypto and he had no choice but to put it, Not without first mentioning that I didn't recommend it because BTC wasn't trustworthy. Likewise, in Spain, BBVA is managing to operate with BTC and cryptocurrencies, and not only for Spain but for all BBVA subsidiaries worldwide, to be able to enter with this service.
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for myself when explaining bitcoin to my friends who are just starting out or even new to bitcoin. I always say this is an unlimited investment and high risk . You can profit so much and you can also lose. However, losses will still be manageable if you know how to manage them. What is clear is that what you invest is something you must be prepared to lose. Don't invest beyond your ability so that when you fail you can still grow.
I have many friends who always ask me about BTC, that when it is better to buy than if they buy and then the price falls, the truth is I tell them what I know, that it is an asset that can rise in price quickly or fall, that there is an ingredient called volatility that you must know how to carry to operate and not lose. That if they enter with the mentaliadd of becoming a millionaire from one day to the next then they will fail, that this takes time, I also tell them to search YouTube, in this forum and read, to learn and have their own arguments, which I recommend as one Long-term action, it is a safe investment but it did not manage times of profit. That is the way I speak to them, some have got in, others have not, they are scared.
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I suppose that if, for the payments of different space travel (which are already in fashion) it is imperative to handle crypto and BTC, the amounts of money are enormous, and the only way to be able to bypass standard regulations with governments, banks and control entities it is with crypto. In addition, in an eventual fall of the world economy, I think that the value in crypto could be maintained, but in order to guarantee it, work must be done in a network that never fails the internet or the power supply, the rest I think is a matter of implementation and I do not see something impossible, it is a fact that it will be so. For me Blockchain is the perfect bridge for this world with many.
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In Colombia it was as a bill to legalize drugs, and it was something that impacts only to know it, under which they alleged that people are the owners of their actions, and if they are of legal age they know what the risks are, in the case that Many things are legalized could improve, so much so that even consumption is something medicinal and thus a meaningless network would not be built where a whole network of people is criminalized.
However, they did not approve it, I think that the business model is not only for those who make and grow drugs, but also for the police, and all those who do business to let drugs pass from one place to another, stop perceiving that Money would cause in many of those entities losses that they do not want to assume and it is money that they are used to receiving, of course they did not say that, but it is or what happens in reality, I know it from living in the border area with Colombia.
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My question is can Elon musk sustain this new found financial spot for how long? We have seen bill gate coming back to this spot from time to time and occupying it for a longer time. Now that Elon musk is said being the richest in the world , is he going to keep to this status longer or we are yet going to hear another story of selling off assets because Elon musk is now known as a public stage man So what do you think? Satoshi is holding 1,000,000 Bitcoins which if you multiplied it to its current price right now which is ~$64,000, it will be around 64 Billion Dollars. Almost 3 times as much as Elon Musk is. If only we know Satoshi then we might see him on the top of that but it will remain as a fantasy. Anyway, I think Elon will stay on the top as long as Tesla and SpaceX will work well. IIRC, him and Bezos are the ones who are fighting for the top spot months ago but now Elon cemented his spot on the top. Everything has its end though so we might see him on the top this year and not next year or in the next 2 years . Right. Elon won't be holding that title forever, so we may see changes replacing the spot after a year or two. We'll find out then when we get there. Meanwhile, we can't question Elon why he became the richest man in earth as he is known to be a smart guy, and is willing to ruin his credibility for the sake of huge profits. We'll, if he continues to be like that, no wonder he will be able to sustain his new spot. But there's no way people should envy him as he is not really a good model after all. I think the same as you, I really do not believe that the wealth numbers are not going to change to be higher and higher, as he says, for me in my particular opinion the richest being is and will be Satoshi, and BTC has reached a new ATH, hopefully it will reach $ 100k to set world records, Forbes published the richest beings in the world, but Satoshi is not taken into account, so what do they play? I think that humanity is waking up, Elon Musk may have a lot of businesses everywhere, but we already saw his vulnerable part with BTC and with DOGE, he is a very clever guy, but not so smart, therein lies the difference in his financial culture.
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Because people find it useful and profitable. Humans are known to exploit just about anything regardless of the consequences or whatever negative outcome may result from their actions. That is, unless they are the ones at the recieving end. Not saying that everyone is like so, but just emphasizing how almost everyone is like this. Just look around you, all the things that people do and ignore that bleeds this world and almost anything within it dry. And for what? Greed. So unless greed is controlled, expect no change how things are going. Bitcoin isn't exempted.
If, in fact, greed is one of the greatest feelings that the majority have, the bad thing is that it is something negative, it makes many lose and others it makes them lose control of absolutely everything, in order to exploit everything, too, it is like taking every natural resource and plundering it, leaving it useless regardless of damaging it. Controlling greed on the part of others is a very difficult task, it depends on the conscience of each person, what you say is true but very difficult to combat.
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Today's life all things have to be paid for with money, from basic needs to hobbies so we must have money, every day people only think about how to meet their needs and increase their money so money is king for him, this is a phenomenon that has happened everywhere because the world currently always make a measure of value and price
This is as Robert Kiyosaki says, if you do not worry about money, money will not worry about you, many say that wealth is in other things, such as family, health and yes, but if there is no money there is no There is health, much less a happy family, I think that money will always be part of having the greatest wealth and in fact that is why we work to maintain a healthy and adequate standard of living for ourselves, our families, there are people that I have gotten and they say they don't care about money, but how do they eat? If you do not have money to eat, they do not eat, there are many concepts that people sometimes do not understand.
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In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.
This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?
In my country, undertaking is an obligation because if not the system makes you starve, the culture has changed a lot, after being a really rich country it became one of the poorest in the world, so normal work by companies or similar already It is not profitable, now what is most sought to do is any type of business, no matter which one, what matters is being able to generate money and produce, the bad thing is that the professional activity was totally affected, being a professional does not cause any kind of good life, what now arises is any type of business to survive and to look for particular improvements.
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Today there has been a new ATH price of $64800 but I believe new ATH now is the start of a bull run at least until it can touch $100k before the year ends, as long as bitcoin holders who have been patient and went through a difficult time some time ago, and continue to hold is a better option than selling now.
Today the ATH was $66930 as you can see it from coinmarketcap( https://coinmarketcap.com/currencies/bitcoin/). If something abnormal not happen then the price will go higher and expected $100k as you also mentioned it. Holding my assets to get more profit from it. Miracle will happen soon. You are right, however many people are waiting for the target at $ 100k, according to the S2F model it is a fact that the movement will take place and not only because of the S2F model, but also many analysts and investors on Wall Street who affirm and assure that the BTC it can reach up to $ 168k at any time, and if we look at the impact of the ETF it has caused it to emerge on its first day with more than $ 1000M, and it is a huge figure for an ETF. Undoubtedly this triggered a bullish trend for BTC and it is already happening, of course you must wait at least a month to see how much the price can rise and stabilize or simply continue to rise.
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This reminds me of Colombian characters, like Pablo Escobar and the occasional politician from Venezuela, which, if I think they are on the list of the world's most millionaires and that they are probably involved in BTC. Many who are actually narcos and their names do not appear on a list, but due to their growing economic development they cannot hide the money in the big banks, nor in Switzerland, so the best thing for them would be BTC, in fact in Venezuela the activity mining is regulated by the government, which means they are probably very into it. In the case of Warren Buffet and some illustrious people shown on the list, since they have amassed their wealth from years ago, I would think that these people have worked hard to obtain what they have, at least Warren Buffet's books are very demonstrative.
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We could not talk about a final ATH when we have a big bullish BTC turn, sometimes we wonder the reasons why BTC goes up or down in price, but this time seeing everything that is happening after the entry of the first ETF of BTC is inferred that this is why: As of reporting, bitcoin was last trading at $66,408.37, up 5.84% over the last 24 hours. Over the last six months, bitcoin (blue line) has gained 69.92% versus its inflation hedge counterpart, gold (orange line), which is down -5.93% over the same period. Source: https://blockworks.co/etfs-fuel-bitcoin-rally-70k-on-the-horizon/Having these premises, I think that BTC is just beginning its bullish trend, it is likely to see the price of BTC this year at $ 100k.
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There are plenty of reasons why BTC is the best and is the King currency, if we go to certain experience strategists, those who recommend BTC do so with great confidence and hoping to see BTC very high in price, as shown. in this article: Wall Street Strategist Puts Bitcoin As High As $168,000 By Year-EndThe co-founder also explained the factors driving his price prediction for the digital asset. He drives the point back to the recent ETF approvals that bitcoin had seen recently. The first U.S. Bitcoin Futures ETF is scheduled to begin trading this week and Lee believes that the ETF approvals are the major reason behind the asset hitting the $100K price mark. Source: https://www.newsbtc.com/news/bitcoin/strategist-puts-bitcoin-at-168000/I am one of the believers of the S2F model, of course a Wall Street expert sees stocks and BTC differently, maybe he is right and it is very possible, anyway $ 100k is very likely to happen, but $ 168k it would be cool.
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For now there are some technical indications that may indicate that what is coming for BTC is a price that will reach the last ATH at $ 64k and can quickly surpass it based on the analysis: Bitcoin is showing positive signs above the $61,000 and $62,500 levels. The price is now trading above $62,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend rally and it might even clear the $65,000 level in the near term. Source: https://www.newsbtc.com/analysis/btc/bitcoin-breaks-key-resistance-65k/The best scenario for the analysis shown is $ 68k, however when looking at other prediction models such as the S2F it is very likely that this year it will reach $ 100k.
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Although it is not the right time according to the market direction, I think that a currency that can be very beneficial to have it in an eventual Bearish market is Uni, the reason is simple, has a great project, it supports it a great community, and is in the Cointelegraph analysis prism: Such a move could push the price to $31.41 and if this level is crossed, the rally could extend to the pattern target at $36.98. The 20-day EMA ($24.50) has started to turn up and the RSI is just above the midway, suggesting a minor advantage to the bulls. Source: https://cointelegraph.com/news/price-analysis-10-8-btc-eth-bnb-ada-xrp-sol-doge-dot-luna-uniI think that for now it can work that way of investment based on that the market continues to move so bearish. In fact, it's not just a good union to hold in a bear market. in fact, popular coins are the first recommendation to have when the price is bearish. It's been years since we've seen a bear market, and the prices of bitcoin, ethereum, BNB, and others to date have been very high. even some coins are currently approaching ATH, or even exceeding ATH. well, so what is recommended when bearish are coins like BTC, ETH, BNB, ADA, UNI, SOL, POLYGON, and others. You have so many choices regarding that. He is right, although for now one of the currencies that has given the most a lot of profit is Solana, in fact many articles have been made based only on Solana, and now with BTC rising better forms of negotiation are being established, the last ath of solana It was for 198USD, maybe if it reaches a new ath BTC it will easily reach 200-250USD, which is one of the best short-term that can be given, I do not say it, many investors say it, and I think not It is a very bad option, of course UNI has a great advantage but it is only the ones that I see that have made the most noise.
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I agree that the biggest problem of China is the local governments debt,not Evergrande. However,I think that the central government of China and the PBOC have enough reserves to support the local governments to pay their debts,at least for a while.The reserves aren't that big,the huge crisis with come,when China runs out of it's foreign currency reserves.AFAIK,China owns lots of US government bonds. They could sell the US bonds and get some cash in order to pay off the debts of the provinces. The economic growth of China seems like a bubble that will pop some day.I'm sure that the new Great Depression will begin from China,not from the USA.
His way of seeing it pleases me and has a great point, sometimes I think that everything lies in the simple fact that in China they do not accept the fact that a hegemony of the dollar is still maintained, since the Second World War, this has been dominating, And from anywhere in the world, even if a currency has much value even more than the dollar, people prefer to have dollars even though if we compare it with the EUR it has less value, but it is what finance, business, everything prefer in Based on the dollar, I think for that reason it is the heart of everything, it may not be the corresponding reason, but it has a great weight.
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It is gratifying that Russia is accepting this activity, in fact the global hash rate of mining is increasing, and its fact that despite the fact that China banned mining, the options to migrate to other countries and go to practice this activity are are seeing very good results: The decline in the price of Bitcoin has impacted the miners, but due to the reduction in competition, some entities are capable of mining more BTC. Therefore, their hashprice and profitability increase. The report added:
If Bitcoin makes another run this year at an all-time high, we’ll see USD-denominated hashprice break its yearly high of $0.41, especially if the fee market picks up (more on this later). Source: https://bitcoinist.com/bitcoin-mining-metrics-continue-to-spike-in-most-profitable-year-ever/From the optimistic point of view, these things help the price of BTC a lot, it is likely that it will continue to grow in price, but we have to wait, as long as the mining activity continues, the BTC will have even more value. when prices go up, it's profitable. the more profitable the farmers are when electricity is cheap like in Kazakstan. this is good for US to take the place on top since China left. chinese miners fleeing from China. if they could just remove that regulation plan and let it grow for now and let it be adopted by people, it will make the senators learn how it all works. and when they know how it works, they will eventually learn where they'd put their regulations in place. Exactly, although at one point the price of BTC was very low that even the people who had the antminer S9 were about to put them aside for being obsolete, but thanks to the fact that the price rose it did not happen, however due to the restrictions and prohibition in China, in Texas which is a State of the USA, many miners have gone there, no matter that the price of electricity is very high and they are doing things from there, also from El Salvador they want to take advantage of the energy of volcanoes to generate mining, geothermal energy.
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Before all this I have a theory, and it may sound a bit crazy, but every time China prohibits something, the immediate effect is that Bitcoin and cryptocurrencies go up, because everyone will look for a way to enter and win, that's like telling people that money is a bad thing, do not look too much ... When people are concerned about money and are forbidden the ways to obtain it, they become irreverent and more so if it is by mandate of a government or entity that does not help its population to improve your private economy.
This is something simple that everyone is looking for, you cannot say no to people to make you more slaves, the market would react positively, at least I see it that way.I do not know if anyone agrees with my quick analysis, which may be merely speculative but cannot be ruled out.
And tell me - how is China connected with bitcoin? Mining? Until recently, Kiai owned almost 3/4 of all mining. Yes, mining, which was suddenly banned, would create panic, most likely the price went up very much. But this problem turned out to be not a problem - the migration of mining centers from China to neighboring countries, the same Kazakhstan, began. In total, if in 2019 China owned 75.5% of mining, now it is no more than 46%, and taking into account such pressure, it will fall even more. Miner production? Well, it is unlikely to be banned, or immediately transferred to Taiwan, Hong Kong, ... Therefore, the influence will be purely "synthetic", and soon the market will return to its previous level .. Or lower ... or higher You will always have a good connection, no one will pay attention to what a government impounds, however the miners have left there, but there are many investors, many traders who will continue in their activity, they will not mind looking for the best VPNs, when it comes to of money, I believe that no government can control individual economies, especially when they are benvolent. Sometimes the news makes us see other scenarios, a scenario that has nothing to do with reality, CHINA is such a large country and with so many P2P exchanges that control is almost impossible, and every time there is bad news, instead of Doing FUD increases the price of BTC, Bad News in CHina + Good News anywhere in the world = Price of BTC increases., that's the way I'm seeing it.
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in just the last 3 months, cardano (ADA) has skyrocketed, both in terms of price and in terms of volume, from $1.30 to $3 and now $2. In my personal opinion, cardano is one of the coins that we can save for a long period of time.
cardano is a potential token but very unlikely to reach $200 as the OP thinks crypto-assets that are not in interest will not be able to enter the top 10 of the marketcap a few weeks ago I bought some Cardano as my middle term investment, hopefully before the end of this year ADA can break to $10 It all depends on what period we are talking about. Of course, it is very risky to say that Cardano can reach this level in a matter of hours, weeks, or even months. However, there have been many cases in the cryptocurrency market in which the coin reached up to 5000% in a short time. It is possible that Cardano will have this result, but it can take longer. You are right, in fact the possibilities that there is a season of altcoins as many are waiting for it may occur, and this is the one that in my opinion indicates to me, which is the definitive bullish trend of BTC to reach its Distribution stage, the BTC has had many rises, and for now the altcoins as well, but they have not gone green as in 2017, which is an indicator that still has a long way to go, this guarantees that Cardano can rise as much as the bulls if they decide to give him the push. Cardano is a coin that has remained there resisting everything in the market, its ups and downs, its bulls have been defending prices in the dip. If the price of BTC continues to rise, I think there will be no bears left, because at those times is when the supply will stop and the price rises precipitously and may reach ATH with great intensity. For me it is only a matter of time and waiting.
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~ The pressure coming from day traders continues to harden the process of breaking this barrier; I was thinking that after breaking $61K
it will be much easier to continue moving upwards, but it's not. It is hard to predict how the market would perform, i was also monitoring the market to see how the market would go as i too wanted to take my position and i was expecting huge sell off but there is a decent buy wall and lets see how the market will perform in the next two days and will take a position. With the way the market is performing we might hundred thousand by the end of this rally. Yes, the truth for me is uncertain to know what is the reason why BTC continues to rise, I have been watching the chart by tensorcharts.com, which I like a lot because it is a platform that gives real-time negotiations with the correct volume according to The Exchange, I have also reviewed the Shorts and Longs in tradingview and they are neutral, the truth is I think it is one or more whales that are buying and buying, it is for that reason that BTC continues to increase in price. Of course this is my perception, in my opinion it may be influencing the entry of ETFs, perhaps the emotions of the traders is increasing, that is what I speculate for now.
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Exactly, we must also highlight the fact that with cryptocurrencies you are not being monitored by banks or governments, you can handle any amount of money without being told anything, without asking for permits and the best thing is that the transactions are fast and very safe. The Fiat is good because we live in a system where it must be managed by FIAT, but with crypto you can make yourself more anonymous, the only way for others to realize that you have something is because you make it known, otherwise no. And the biggest advantage of all is that you don't need a set schedule to withdraw your money or move it from one place to another, it is open and active 24 hours a day. I do like crypto over fiat, because I can manage my own finances. Because unlike fiat, which does involve a third party every time I make a transaction, it sometimes makes the transaction process take a long time. That's why I prefer to use crypto when sending money abroad, because the process is faster. Moreover, crypto is proven to be able to make money and is also anti-inflation, this makes me entrust my wealth to be stored in cryptocurrency. Maybe I still use fiat because it is to buy daily needs, because in my country crypto is prohibited as a means of payment. All you say is the reasons why cryptocurrencies should not be prohibited, is that no government can tell you how much money you should have, that is where freedom comes in, and financial freedom is much easier to achieve with the economy that cryptocurrencies offer, and that is something that no government will like, governments like to keep their people under their rules that no sheep is derailed, because that prevents their control and they invent that crypto is bad for money laundering and all those things that we they are accustomed. The ways you have to be able to make a good exchange is to consider P2P exchanges, or through remittances.
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