The general cryptocurrency market has been exciting, with Bitcoin gaining an all-time high of $46k since may 2021 in April Bitcoin made an all-time high of above $65k before correcting down to below $30k in mid-April.
Will $48k Bitcoin price be achievable this week?
If we sustain this area where we currently are, we might see $48k within 3-4 days but today bitcoin wasn't able to sustain the support of the 200 Daily MA, and now if it closes below the 44500$ area tonight then I don't think 48k is possible, there has been some bullish momentum in last few days but most of it has been met by equal bearish momentum, if you see hourly charts there are long green as well as red candles too, also we have a weekend in a couple of days and I am expecting a huge correction this weekend from BTC at least down to $40k. Also no way I am expecting a new all-time high in a year or two. |
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Before an altcoins get launched, most times they must have been several funding phrase that the general public aren't allowed to participate in and some are done without anybody knowing which means there's always people that we're just enriching each time we buy newly launched tokens either from market or pre-sale.
Judging from what is happening in the market, it's very obvious that majority of the CEO are just after making money from the industry but they'll not tell you that instead they keep decieving everybody that they created the token to solve world problem meanwhile there's no utility of that project only just it been tradable.
While we Invest in project, we shouldn't blindly follow what the CEO are saying regarding their project, always make sure you research and have been convince based on the evidence you see that the projects is likely to succeed like roadmap, etc and not rely on what the CEO will say because everybody thinks theirs is the best and get clouded by emotions. There's so many altcoins, don't get too attached to anyone that you'll be blinded and not see what a scam they are before they exist scam.
Good point, While this is quite obvious surprisingly a lot of people don't really know this, CEO and team are obviously the ambassadors of the project and many times I have even seen the faces of these people are just hired for the sake of the popularity and actual working members are someone else. But people just see past projects or Work Experiences of these people and make the decision of investing in the projects. Talking about pre-ICO investments, those are actually healthy but what happens is that the investors who invested at this stage try to exit as soon as the token gets listed which can lead to a huge fall in prices of the token, as these people have brought at lower prices they are actually able to easily do this. |
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Great article on Bitcoin.com that people should read. Crypto has the potential to usurp the banks, allow private, digital transactions, serve as a universal currency, escape from rampant fiat inflation, etc. People need to wake up, be more active in politics and be stronger advocates against KYC. “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” -Satoshi Nakamoto
...
With this new U.S. infrastructure bill (now moved to the House of Representatives which is on recess until September 20), the EU’s plans to track all bitcoin transactions and ban anonymous wallets, the massive momentum CBDCs are gaining worldwide as countries responsible for 90% of the world’s GDP research and trial them — it is clear we are on the cusp of something unprecedented. Even the sacred realm of decentralized finance (defi) is no longer safe, with U.S. Securities and Exchange Commission Chairman Gary Gensler recently calling for more authority to regulate defi.
Contrary to Satoshi’s vision for peer-to-peer electronic cash without the need for a financial institution, the picture taking shape is one instead of complete, centralized, coercive control of private finance. Privacy and autonomy in money, in other words, are being made out as relics to be traded in for antiquated ideas of kings ruling peasants, disguised as modern and sensible “regulation.”
I think many retail investors in the US are Robinhooder types that have a "Bitcoin go up - me buy!" mentality. They don't realize what the loss of utility from anonymous P2P transactions will mean for Bitcoin. If Bitcoin is KYC, DeFi coins have no hope of replacing the traditional banking system and CBDCs are everywhere, why use Bitcoin at all? Governments will likely ban it in the future anyway. China and the US infrastructure bill have already set a precedent for banning mining and development in those countries. The plans of government have always been this, where the world is moving more and more towards tracking and data collection, there is no chance governments are giving you free hand in your financial transactions, this data relating to your incomes and expenses alone is so monetizable for your banks and credit card companies these days. But these things set apart, I think Bitcoin's utility trajectory isn't going to be as Parabolic as its price chart, that's for sure. The main reason is that the mindset of the retail investors, today the mindset regarding cryptocurrencies isn't like an alternate currency but more like a tool for investment, and trust me 90% of them will support this ban on anonymous transactions because then investment in these currencies would become even easier but how profitable that only time will tell, because reducing utility of bitcoin would make its price just a bubble. |
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Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.
This is really a huge and extremely stupid mistake, even if I am bullish on my life that bitcoin will reach 50k still I would not go for 100x leverage because of the very simple fact of fluctuations. We all know that how much bitcoin fluctuates, and with 100x leverage, your liquidation point must be just around 40-50 points below the current price, which means you gave zero breathing space to your order. I hope this lesson remains in your mind forever, the only holy grail for making money in this market is protecting your capital and keeping risk minimal. Impulsive trading isn't trading it's just gambling. |
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I'd want to provide some guidance, particularly to individuals who are new to the market. You think you should buy in ALTs whenever the market is rising. And it's possible that you'll gain from it. However, the market drops after you make your investment. When the market falls, you believe you are losing money and sell everything. When you watch the stock market rise, you invest.You will continue to be harmed in this manner. As a result, anytime you need to invest, put a tiny percentage of your portfolio into it. As a result, even if the market falls, you will still have your portfolio. Never trade based on your emotions. Calculate carefully before investing.
I think trading without a strategy, plan, and system is just useless. You should have all three ingredients to make money in markets. A strategy would tell you the overall aim of your trading. What is the intent behind your trading and when are you going to add or withdraw money from this account. second is the trading plan which involves around the time of trading you'll do each day and what is your daily risk %age and daily reward expectation and make sure you don't go beyond both of them. Third is the trading system, system basically means the set of indicators or triggers which you will use to decide whether to enter a trade, trading should be absolutely mechanical, if your system says you buy a coin, you just buy it, if your system says sell a coin, you just sell it. |
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In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
I don't think things would change a lot only with physical money being removed and a digital currency system being implemented. The actual problem lies in the centralized nature of the traditional money where every central bank controls the money in their own country, Now to be very honest, an Economy without a central authority can be a double-edged sword to some extent. Firstly obviously, these governments won't be able to eat up our money in form of inflation and useless spending but at the same time it carries a threat that some large whales could create cartels in the economy and might act against the interest of retail consumers and we won't even have a central power to complain this thing. So it's really hard to imagine such a concept. |
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Has anyone used bots? Are they worth the time and effort?
If you can create a trading bot of your own, then obviously the bot is better because it's just you without the emotions part which is good for trading but If you hire it from someone especially in crypto space I have seen these things ending in just scams and nothing else, these are unaudited bots and often face script errors after some point which means you are facing a great risk on your money, also chances are these bots won't be able to compete against bots of big institutional investors. So in this case you as an individual are much better than a bot |
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I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
This actually is a big paradox even I have talked about this on the forum many times, In fact, this is a problem with every deflationary currency, if price of something is getting higher and higher in longer-term a person would obviously never like to spend it, which means people will keep on holding it leading to scarce supply and ultimately this spiral continuing again. It's actually called deflationary spiral.  Here is an image of a deflationary spiral starting with '"lack of demand" Some people suggest that once there is enough adoption of bitcoin chances are that its price will stabilize but the truth is that it can't happen because of the supply getting more scarce and the natural tendency of economic growth. |
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If anyone still has doubts about whether it is worth buying and waiting at least until the next cycle, take a look at what a new survey from Fidelity Digital Assets says. According to the survey, 70% of institutional investors intend to buy or invest in digital assets in the near future, with over 90% of them planning to do so by 2026. We have seen entrepreneurs who were skeptical of Bitcoin years ago change their minds in the last year. If what the survey says comes true, and it looks like it will, it won't even be necessary to own a whole Bitcoin to achieve a certain degree of wealth. Surely the $30K we have seen recently will never be seen again. Once again entry of Institutional Investors is both good as well as bad news! on one hand, it might make the market more balanced with whales of crypto on one side and Institutional Investors on the other side, but at the same time it'll make the market much more manipulative too, crypto whales already manipulate the market too much, the Institutional Investors would supplement this manipulation even further, therefore, making the market more or less like the stock market with a lot of insider information flowing around and manipulative. Remember these Institutional Investors are even more cunning than whales because they carry their decades of experience from stock market. |
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Actually, these hedge funds claim themselves to be risky, no hedge fund has ever said that you can invest with us at zero risks, it's just that when you are investing in bitcoin you are investing in technology or an asset class that hasn't been into existence from too long. While traditional markets have been here for years. It doesn't make anything bad or good but just risky and highly risky. also if you see percentages, Nomura boasts of a total asset base of 600 Billion USD while Credit Suisse has a total asset base of more than 1.6 Trillion USD so in front of that this loss looks peanuts to me isn't it? It's just like 1% of their total AUM so I don't think it's a really big deal.
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If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?
This isn't actually a new thing, rich billionaires have been doing this forever, especially ones running their companies. They hypothecate their shares to take loans for their homes and luxuries and can get it at cheap rates, they even save taxes on this because no capital gain is realized until the asset is sold. However in your case, the problem is the volatility, if the price of bitcoin falls by chance, you will be in a very bad position. Even the lender will ask you to return the loan back. But one thing I am confused in your idea, how will you earn interest?? you will have to pay interest and you will earn from bitcoin's price moving up, the difference between both will be your profit. or do you mean something else? |
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Since El Salvador became the first country to approve Bitcoin as a legal tender, it has become international news and has attracted attention from the market, especially the cryptocurrency market. Many countries are paying close attention to this big move. Using Bitcoin in El Salvador can bring meaningful social benefits to many people who do not have a bank account and cannot access basic financial services. People can benefit from the potential of low-cost remittances and durable savings accounts that are not affected by money supply expansion and hyperinflation. And with the advent of the Lightning Network, using Bitcoin as a payment method has become more feasible. “We build our own future. So why do we have to resign ourselves to a dystopic future?” said President Bukele. “This will be a huge game changer not for El Salvador but for the world. It’s beautiful to be part of a huge change in humanity.” The whole world is watching the important first step taken by El Salvador. Using Bitcoin is not just a trend, other countries will eventually learn that Bitcoin can increase national wealth, and some even keep it in their treasury reserves. With Bitcoin the longer you wait, the rewards will start to decrease. Countries at a disadvantage may consider taking measures as early as possible to give them an advantage over other larger economies. So will more countries follow El Salvador to use Bitcoin as legal tender? https://www.forbes.com/sites/lawrencewintermeyer/2021/08/05/could-developing-nations-follow-el-salvadors-move-to-bitcoin/?sh=e930afe28b70I know every crypto lover would want this but unfortunately, it's too difficult. It was easier for El Salvador due to a very basic reason, it didn't have any other currency of its own so its bank was not regulating the very primary function of controlling currency in circulation. Other Central banks, on the other hand, have a huge role in controlling the currency in circulation of their own legal tender and this plays a major role in the economic growth rate. So countries already with their own currencies aren't going to keep bitcoin as a secondary currency, it just defies their own currency too much. Developing countries are much more serious about this because they have to keep fiscal deficits higher to keep the economy going at a fast pace. |
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The central bank of Nigeria (CBN), has reportedly set October 1 as the commencement date for the trial phase of it's digital currency project, dubbed "Project Giant". This digital currency project or the "e-naira" is expected to use the hyper ledger fabric block chain.
The revelation of the launch date for Nigeria's central bank digital currency (CBDC) comes just few months after the central bank governor, said the digital currency will soon come to life. It also comes after the CBN suggested in June that Nigeria would have it's own C DC by the end of the year. With this revelation when confirmed officially, Nigeria will become the second west African nation to announce the pilot phase of it's own digital currency in 2021.
As previously reported, the bank of Ghana is the other country from the region to announce a date for it's digital currency project. In the meantime, the report reveals some of the focus areas that stand to benefit from the roll out of the e-naira. Some of these areas include cross border trade, monetary policy, tax revenue collection and remittance inflows
Nigerian Government is the only government that gave very interesting and valid points in favour of their CDBC which no other country's government gave so far. They stressed the fact that how they would "increase financial inclusion via this and reduce the number of fees spent on inward remittances from abroad". While IMF considers this a shortcut towards financial inclusion, governments around the world are pretty sure this is the best way to beat developed countries in the inclusiveness of their financial systems. Also, CDBC is the only way you would be able both regulate the financial system and enjoy the benefits of cryptocurrencies. |
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It may soon change due to inflation, but as of now we live in a crazy world with the Euro - it is called the wonderland of negative interest rates. For those who are not in the loop, it works like this: You lend me 100 euros and I promise to repay you 99 euros. My first question, how much would you like borrow under these conditions? I was speaking with a friend that wants to buy a house, mostly on credit as it is usual in many places. He was saying that he wanted a 25 year mortgage because he would like to have the house paid as early as he could. However, my take on this is that given the ridiculous interest rates, I would rather do like Europe or US and have that debt ... forever  Sometimes I don't understand how people think, first of all just because fiat is carrying a negative interest rate, taking loans doesn't become attractive, because this means money spent today is less valuable than money spent tomorrow, which means no one would actually like to spend, why would you buy a house if you think tomorrow the same house would be available cheaper as the purchasing power of your money would eventually increase? But however, life isn't purely theoretical, In practicality, such a situation won't last long and banks would ensure they lend only at a floating interest rate so that if tomorrow the interest rates rise again bank can earn money from you once again. Also in such times credit availability is easier because the government wants more and more money to flow in the market to reduce the value of your money. So you will still not be profitable at the end of this whole scenario. |
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I am a beginner in trading and have just entered the field of cryptocurrency and tried trading.Mainly through youtube tutorials and some encrypted websites to view indicators and encrypted trading strategies.I think I may have found some reliable technologies while searching and learning, but it takes time to research, and I don't know what to do with these.
I need some help or direction in terms of process and strategy. Any guidance on encryption knowledge and any suggestions are welcome.
Skills and strategies are all secondary, your primary focus should be entirely on gaining knowledge about money management, position sizing, stop loss and psychology. These are the main pillars of any trader. Making strategy isn't that difficult but following it religiously and making a mindset to improve it and take losses is the only thing that can make you successful at trading. By the way encrypted course( assuming you mean paid courses/indicators) are good upto some extent only, the one available freely are equally good it's all about the right mindset. |
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Extremely useful and correct at the same time. But a major question that I have is that have you or any of your acquaintance have encountered any such incident? Or are you just giving a normal SOP that the banks and vigilance follow whenever such a thing happens? Because honestly speaking I have never heard of anyone stuck so bad that his account froze due to these doubts.
Also if anyone gets stuck in this situation I think it really won't be easy to get out of it especially if you have done it through telegram or even the forum.
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Hello Everyone.
I want to know your opinion on margin trading is it good for beginners or not? is there any high chance of losing the money?
No not at all. until you understand money management and risk management doing margin trading is extremely risky. Everyone who started this way has blown up or been quite close to blowing up their account. It simply doesn't works because at the initial stage your intent is to predict the movement of the market correctly on which you can only be correct upto 70% now if you don't know money management correctly you will sell off the wining positions too early and will keep on holding losing positions forever. Basically making your trading unprofitable. |
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One of the sure-fire ways to build wealth is by investing your money, especially in stocks from a company with strong fundamentals. Interestingly in recent times cryptocurrencies most especially Bitcoin has been the talk of the town due to its massive ROI.
Warren Buffett is one of the most successful stock investors, in the world. Yet, Buffett has said he won’t ever buy the cryptocurrency for several reasons . Other hand Michael Saylor, an early Bitcoin investor and proponent has been credited with institutional Bitcoin boom in December 2020. He has made billions of dollars from Bitcoin.
There are others like Mr Buffett and Mr Michael all over the world.
Truth be told both investors are doing very well. My question now is , Who is Happier? Is it the Stock investor or the Bitcoin investor?
I have just one reason why I feel the stock market investors are much happier than crypto investors, it's that on weekend the stock markets are closed therefore ensuring that you get a peaceful sleep or two days when you can enjoy your life. On the other hand crypto market is open 24x7 which means you are constantly connected to the market in some way or the other, no matter how much you say you don't at the end, if there is a big move in the market you'll definitely go and check if you want any trade or want to close any trade. In this context stock market investors are much more chilled. |
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Covid shows us you must know When to finish.
When your business doing too good you have to sell it.
Many people who sold their assets before covid was right about.
Good example are all kind of business with debt and own rent money to landlords.
Conclusion: dont Stay on something too long know When to finish and Move on!
Lesson learned dont stay too relaxed cash out and Move on!
This is the reason why I don't advocate HODL entirely. It's always better to sell when you think we are on the top. Or best is to use a trailing SL when we break an ATH. My personal experience has been that opportunity lost will always come back again, those who regretted missing buying btc at 30-40k got their chance again if they preserved their capital but if they went in on a higher price, they have actually lost money actually. People shouldn't be afraid to take advantage of market movements obviously unless you have such a huge amounts of btc that withdrawing it on an exchange could pose troubles. When i was just noob back before then i do really have that kind of fixed mindset where i do really need to hold which it isnt only on Bitcoin but also into those altcoins that i do tend to hold or bought on. I do always have that impression that when you do hold then its guaranteed that you would make money in future years to come but thats not the case happened to me on where i did really earn some but most of coins ive been holding is on the negative side and i did have that kind of feeling of regret when i do missed up those pumps and never came back into that level which would really give you that regrets that you cant really easily to forgot. This actually is a problem faced by majority of new investors, in the greed of exponential returns they go for highly risky projects which claim great returns but once they get their funding, the project and work is stopped immediately, petty investors lose a lot of money in this, secondly most of the people started Cryptos during the bull runs which means they had brought most of the crypto at higher prices and then cried and even sold most of them during a bear run and brought again during a bull run. This Phenomenon has led to most loses or negative returns among new investors despite HODLing. |
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20% exposure is huge. This indicates two things that one government is slowly trying to accept Cryptocurrencies especially in form of an investment and secondly which may sound bad to some people but they want people to invest in Cryptos through government regulated mode only, because otherwise people would have directly Brought Cryptos and keeping a track of that would have been difficult, but when you buy a fund you have done proper KYCs which means your Crypto holdings are directly under the supervision of government.
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