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Here is the reason why bitcoin tumbles in the first few days of bakkt
1. Rumors
while others are positive in the launch of bakkt some people are spreading negative rumors everywhere to pull the price down
note: I don' know what this people wants but surely they want to make profits or tho buy a lower price bitcoin.
2. Panic/
Since rumors are spreading all over now , more traders specially the new once panic and sold their holdings fearing bitcoin will go down quickly.
3. News
the most powerful tools in the world is news specially now we have the internet ofcourse news easily spread im sure you know that they don't care if its legit or not they are going to publish it no matter what, so it also give big impact to the readers specially the traders.
While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader
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Bakkt release and the whale who sold his bitcoin and the panic of the people who bought their token when it was like 10k usd , is the reason, and the news that are circulating make it worse
the price will probably go down but not really deep because if it happens I think one of the top 5 coins might take over at the top 1
we might see a down trend for the next few days before it recover
we hope this will not fall to 3000 usd because it will not be good
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Since its a trend people realize that they can make profits since its the trend, and they can take advantage of the situation kust like
with the crypto craze making lots of ico that are realy useless
but we really need that since there are lots of hacking going on specially in the exchange, but this will not go through if the government will not support the technology we are in
they need to realize that, we need laws that has an iron fist for the people who is doing the hacking,
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the reason is that there are company using the projects
as long as there are people patronizing ripple
you can't close q company, even with a few user
the good thing about them is that they make criticism
motivation, every now and then you can see attacks against ripple
publicly, even investors and traders do, but to see this projects still moving is amazing if that is a weak company they have close already
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The reason why bitcoin price goes down yesterday is not about bakkt , its because someone transfer a large anount of bitcoin to an exchange , I thinks its a whale or someone who wants to unload
and then sold it, and that makes others panic selling their bitcoin holdings, but at the this moment the price is still okay
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wala pa buwis or tax kaso ang problema hindi mo mailalabas yung pero mo nkatabi lang sya s either exchanges, kasi pagkakaalam ko pagnagdeposit ka sa bangko dba ngconvert kna s peso ngaun syempre minsan gusto natin ebangko less 500k paglumampas ka kasi dun yari sisilipin kna, masama padun bka mamoney laundering pa, pero alam ko pinagaaralan yan may mga news na s senate daw ha may nabsa ata ako na prang pinaguuspan na ung crypto, kaya pagtumagal bka meron na pero syempre para d matax quite lang low key lang ba para safe tau
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May mga guides papaanu magtrade, pero may mga iba ginagawa
or ung iba nagtatanung sa mga traders, ung sa stock exchange na may kakilala, pwede mo din gawin ung coinsph abangan mo lang bumagsak timing lang buy ka agad pero pwede ka rin magbasa basa muna news pagmay mga good news parating good to buy un
tapos pagpalapit na yung date ng news sell na ggwin mo, ganun
pwede mo din gawin ung etherdelta diko lang alam kung okay pa dun, dapat may etherwallet ka, lagyan mo kahit five hundred dun ka magstart para magamay mo dapat medyo stable din internet mo ha
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no altcoins are not in a good position since the market will base initially with bitcoin it means that if bitcoin is not healthy altcoins will go down, all of the holders will buy bitcoin , because they will get more profit on bitcoin unlike altcoins, that only goes up if bitcoin goes up
don't believe on blogs specially with no analytics or even a good research and content they are just doing that for views and spreading fake news
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Thats bad news for me I have some coins but maybe your right its gonna dump after a small and quick pump lets see,
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Binance is going to list ADA sounds a good news fo holders
but will this help cardano rally the price from its current state?
im a bit hesitant with this because mostly lots of holders will going to dump their holdings thus give a chance to another dip to the coin
whats your assesment with this one?
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We can never tell sometimes even with the group someone will run with the bag of money
but some way know if its a scam or not is to see whether there are already partners that
are already supporting the project and using its technology and tested it , with their clients
and that they have testimonials , legit testimonials sometimes scam crypto create fake accounts
you better research if its true, and also they have enough funds and support also from a big community of investors
that already make sure they will not disappear
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unlike before project are fast to be listed in an exchange and they can double their money like in just a week or so
but now they need to wait for months to be able to get their capital because of some scam projects
also now projects are always 50/50 chance to be launch in the market even a well advertise projects sometimes
fails even before they been listed to an exchange , because the developer sometimes disappear once they already
collected amount of money from investors, so we can blame them complaining because as an investor I want to get profit not losses
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we can never tell no one knows , specially in this time that people are now being smart
regarding trading, they know when to dump and buy, holders wait at the right moment
giving a call is so hard that market will fail you, I think sometimes we need a little luck in this
because we don't know when Ethereum will get back to its all time high price lets just hope that
when it happens we already have lots of token/coins that we can say that we can retire
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believe me it will be regulated because the government has no chance to stop digital currency
we will get there but don't buy too much because we don't know what will happen
maybe one day you wake up and the only coin that will be use is bitcoin or Ethereum
make sure what you are holding are usable in the future don't follow hearsay or videos
do your own research it will give you more knowledge and deep understanding of digital assets
currencies, because during this time self proclaim digital pro are all over the place spreading false news
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best way to protect your altcoins or bitcoin is to use the trusted wallets or exchange
or hardware wallets because sometimes exchanges even if you secure it , they got hacked mostly
sometimes inside job
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im not gonna make an overkill assessment of the price for btc, but 12K dollars is makeable at the end of the year, bitcoin price goes up
in 2017 because of the hype in the market and people also realize
that they can make money out of thin air, like what happen to btc, so people scrambling took time to invest and others takes advantage of the situation, pushing the price up, but if almost everyone adapts that is a different story we might be talking bigger price, but it will be also regulated im sure
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judging by the situation of ripple or xrp , im still also having doubts on it, but im holding a small amount just to make sure, yes they have partners in the philippines even coinsph also have xrp wallets
lots of them have good point of view on xrp future specially when it reach $3 almost hit $4 , but what I think hit ripple hard is the lawsuits they been through, and fails to depend it and yes speculations makes the price go up momentarily but goes down after
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sometimes it really make a good coin vanish even if its listed in a grear exchange, the reason why is that at the start of project where in developers needs funds for it, they will make an ico or selling of the coins to public well yes they get money and be able to list the coin to an exchange, or even shitty exchange sorry for the words,
but what makes the coin faith is decided by the holders and the creator, imagine thousands of the coin being dump in seconds , what will the other people think, its not a good project simply because a lot of the people holding it taking profit and leave the coin in dust that's really the truth no matter if its good or shitty exchange we the holders and the creator decides what will be the faith of a token/coin
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Now that lots of country is adapting the use of bitcoin slowly, korea
shutting down exchanges will not largely affect bitcoin price, since at this moment lots of banks are making its way to digital currency
and intstitutions are now beginning to realize that bitcoin will be tough to remove on the circulation, what they are doing now is adapting so again we can feel a small effect but will not drag the price to the ground like what others say
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