Great news, however, who are these institutional traders
It could range from few million $$ local funds to multi billion $$ legacy hedge funds, or some wealthy family elites. If this level of institutional adoption continues, we see Bakkt come online, LedgerX grow further, an ETF somewhere in the next couple of years, the supply of available coins will sink to the absolute lowest ever point. Currently Square alone usurps 10% of the daily supply of minted coins, and they are a faily small entity within the Bitcoin ecosystem. I am quite sure that with the massive surge in recent interest Square usurps even more than 10% so I am looking forward to the next release of their sales numbers.
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Samsung set a pace by introducing cryptos featured smart phones here again apple launching it own bluewallet that is LN featured
Apple isn't launching anything here. It's purely BW that designed an app for the Apple smart watch ecosystem. this is indeed remarkable and a welcome development geared towards having a swift and quick transactions which had been an hindrance or impediment in few years ago as far transaction of bitcoin and other cryptos is concerned.
We always had quick transactions. All I need is to pull out my mobile phone and open an app. Smart watches at most make the process of generating a QR code a second or two faster, that's it. As far as I can see, BW doesn't ask you for a PIN before you open an app, which adds more problems than it solves in my opinion. By the time they do add a PIN, it will be inconvenient to type in the numbers on such a small screen, therefore you lose the few second speed advantage you had previously.
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No one actually knows on what basis those central banks were printing the money,if they are maintainig right money to be printed then why inflation keeps increasing every year?
Makes me really wonder if central banks actually know how much money they have in circulation right now. If you print money left and right for decades now, I am sure that a few hundred billion or perhaps a trillion is floating somewhere in the world banking system under the radar. There is zero transparency which allows fraudsters aka banksters to prop up the economy with hot air money. Some legacy investors even praise the federal reserve's ability to print money endlessly, therefore the US economy will never implode. So silly.
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In the past, a change of 4% was a normal change and did not pay for all that optimism.
It still doesn't in most cases, but when that 4% change made the price reach its highest point this year then it is a worthwhile move. Tether messing up should actually make the price go down, so from there it's not entirely surprising that people think it will. The fact that it doesn't happen hints at a market that seems to be ok with them being shady.
Coins being 51% attacked should make their price go down as well, but it doesn't happen because of how retarded the people here are. --- The market looks quite bullish, but I highly doubt that we'll see the price top $10,000 this year. $20,000 is out of the question. Price up = people thinking it will go up higher. Price down = people thinking it will go down lower. It's just the usual sentiment riding we see all these individuals participate in. Before we broke the $6000 level people didn't believe the bear market cycle would rhyme with the one of 2014/2015, and now suddenly they act like they predicted the 2018 capitulation selloff.
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It doesn't produce anything for him, neither for any of us here.
Bitcoin "produced" dividend income in form of shitforks. We have been generously rewarded in the last couple of years just holding it. --- Bitcoin and other crypto currencies for most people are gambling devices. People come here to turn $1000 into $2000 before the end of the week/month/year/etc. In the end, I think he generalizes the whole crypto space by using Bitcoin. In reality he's talking about the plenty of shitcoins that this ecosystem counts, and we can all agree that it's a complete mess. Scams everywhere. Call a spade a spade.
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I agree, we definitely do not want to see mindless spikes reaching beyond the $19k mark but a gradual increase with plenty of assurance through stability is the preferred route.
The good thing about these crazy spikes is that you can short them. In most cases what goes up hard comes down hard, so the odds do favor a short in that regard. It happens regardless of what our opinion is, so why not utilize these opportunities the best we can? Accumulating more Bitcoin is my main priority, and these crazy market movements are perfect for that. $6000 is what I want to see be broken or reject our current rally. We're so close that it's difficult to say something about the direction. If we do break it confidently, I'll open a long position and ride it out. If not, then I'm fine with my current short. In the end, we're either right or wrong, but it's important to put your money where your mouth is. We have way too many empty talkers here not doing what they believe in.
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There are many people who are bullish right now, and since we are at a critical resistance level, its not a good sign. However the market was pretty strong recently so there is a chance we might get more upside to the $6000 area.
It all depends on whether or not there is enough momentum to keep pumping. Back in 2017 every $500-$1000 increase people were calling tops, pointing at how overly bullish everyone is, and the market didn't give a shit. If this is somewhat similar, we could end up going well over that $6000 level and start correcting at a level most people here don't have a clue about. I am still short at the moment, but I'm feeling less confident about it now. I can however leave it open because the leverage is so low that I don't worry about it being liquidated.
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I'd suggest doing manual trading with low capital and get used to the market. You will eventually feel a need to use a bot.
Why would he eventually feel the need to use a bot? Because he will suck at trading? I'm pretty certain that OP (not to disrespect) already sucks at trading, else why look for a bot? If he was such a good trader he would be manually trading already. Bots are worth it if you have zero expectations of guaranteed profits. I have seen a lot people lately assume that bots are the key to guaranteed x % per day or week. That's false, and if (re)sellers of bots claim that, then they are flat out lying. If that was the case, they wouldn't be selling these bots, but use these bots themselves to become filthy rich.
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People always tell how horrible it is that banks make you wait a few days, but on practice it's actually not that bad - if you need to move tens of thousands of dollars, it will most likely not be urgent. And all those additional versifications are actually security measures, and they seem to be working quite well - you don't hear too often about people getting robbed of their savings from their bank accounts, while with Bitcoin it happens all the time. You could blame it on users for being "stupid", but if a product doesn't work for "stupid" people, how will it reach mass adoption?
I'm not per se against banks, but their service is just horrible when it comes to cross border transactions. That was basically my point. I right now calculated what it will cost me to send €1000 to the US. The fee for a non urgent transaction is a flat €28 where on top of that, 1.5% in conversion fees are added, which means €29.5 in total. Settlement ~10 business days. An urgent transaction is €55 plus the 1.5% conversion fee. Settlement ~2 business days. As Brad Garlinghouse, the CEO of Ripple prefers to say; it's faster in most cases to fly the money to whatever country yourself.
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people stupidity is endless and bitfinex keep using it. i really hope they go insolvent and stop operating really soon and government (ironic or not) to start regulating and jailing people who run exchange and stable coins that operate so shady like them.
Bitfinex is already insolvent for the most part. They are going to issue a token to raise $1 billion to fill up their gap. As reward, people will get their arse tickled again at a later point. It's so frustrating to see how stupid people can be. If Tether and Bitfinex manage to recover from this, what will be able to get them down? They then survived the worst of the wost, lol. hopefully, dexes can get better really soon so lots of people will use them (and no, binance dex doesn't count imo).
I was quite excited about dexes in the past, but no longer am. It's just not viable to expect them catch up on cexes to such degree, that people will shift. People won't even shift if dexes are almost as good as cexes. Dexes must be exponentially better to make people shift. And yeah, Binance dex is a joke. CZ is a champion in marketing his products in the best possible way.
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Loaded is cute. Instead of ignoring the dust in his address he consolidated every input and paid $0.57 as result. If he just spent his 40,000BTC input it would cost him only $0.03-$0.05 depending on the state of the network.
Try to do that with a legacy bank account (after explaining why you want to transfer an amount this large, and who exactly the receving party is), it'll cost you an arm and a leg and a few business days at the very minimum.
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I would convert my mining equipment <GPUs> into ASIC hardware now, before the demand for those ASIC hardware goes up again.
I am quite sure that the prices will come down or at least somewhat stabilize. Bitmain's plan is to deploy 200,000 miners themselves, and if this turns out to be real and not just a plan on paper, they will squeeze out most miners buying their gear right now. Currently the hashrate has been showing a solid uptick with much higher lows. We used to bounce between ~50Eh/s and ~36h/s, where the lows hover around 44Eh/s right now. This surge in hashrate resulted in more block inflation, and also explains why the number of transactions has increased. It's not related to Segwit adoption picking up like people think, but purely more block inflation. In the end, more mining equipment being bought is cool and all, but it only matters when they are put to work, so it's going to be interesting to see if we can get a peak to 70Eh/s this month (we had a 60Eh/s peak this week already).
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All in all, Bitcoin could be greatly undervalued if one takes into consideration all of the lost coins on the network. It all comes down to supply and demand. If the demand isn't there, which is what we had last year, then the price will keep going down. As long as most of the coins are being used for speculative purposes on exchanges, it doesn't really matter how many coins have been lost or people hodl for the long term. With how thin the orderbooks are on most exchanges, a relatively small dump can still tank the price down with ~10%. Coinbase alone holds almost 1 million BTC on behalf of their users. Lets say that half of that is just a few clicks away from being sold. That's a scary thought? There are so many hardware wallet options out there that there is no reason to trust Coinbase with that many coins.
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On the other hand, Bitcoin maximalists believe that there should be one cryptocurrency in existence.
Bitcoin maximalists mostly aren't that rational, especially not when it comes to BSV minions. Even if Bitcoin scales for the entire world, people will still use other crypto currencies just because they can, or offer more upwards potential. What's the difference between those who say Bitcoin should be the only currency or governments saying there should only be fiat and nothing else? Nonetheless, I believe that Bitcoin is a religion in many ways. But not everyone thinks the same depending on their point of view. What matters is that Bitcoin is a useful decentralized cryptocurrency for the world, rather than just a movement. Just my opinion It's a subjective matter indeed. I personally don't see it as a religion myself, but have seen many in the BSV and XRP camp who do so.
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Now stock market does look like it increased way more than it should but at least its a really legit system and even if it falls it can rebound back easily. That is why they are not similar to previous two bubbles.
As long as money on its own isn't worth much due to the very low interest rates and excessive money creation, stocks will very likely continue to go up. People rightfully expected the US stock market to crash, and for a short while it looked like it was doing so, but it rebounded and kept going up since then. Eventually the market will implode, but when that eventually is remains to be seen. It could easily continue pumping for a few more years. I rather not go short on any US stock unless the underlying company itself turns shit. Bitcoin compared to most stocks is such a steal, but that's not how most traditional bobos look at Bitcoin. It's firstly too risky in their book, and they still aren't comfortable buying into it.
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If he did that during January when bitcoin hit as low as 3400 or so from 20 thousand dollars of previous year than he would have been at the right moment but today we are on a big run so its not the proper time to do this.
He assumes that people can only make money when the price is going up. That might apply to noobs, but most well thinking traders know how to utilize downtrends and make money in the process. There are enough platforms where you can short the price of most top tier coins, so there is no excuse to not make money during crashes. People like OP are usually those who rekt themselves, then hope that others rekt themselves too. It's like ' if I don't make profit, you shouldn't too'. Silly.
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I do believe that the price has bottomed, but I don't rule out another sub $4000 visit. You don't know for sure beforehand if the bottom is actually in, but I put my money where my mouth is and that's between $3000-$4000. If it isn't in, I'll buy more, it's that simple. Last year the price also went up quite hard in April, and it started tanking in May, which I believe was around the time the Consensus event was going on. It failed to break the $10,000 level at that point. This month we will have another Consensus event, starting May 13th. I'll closely watch the market behavior around that time and see if we will have a similar situation play out. Unfortunately, I don't have good skills to determine if that year will be the low year.
It's not your fault. No one has the skills to determine where the bottom is. All we can do is guess and long/short based on what we think will happen. We're either right or wrong at the end of the day.
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even when investors hyped up in 2017 the price only reach 20k,
That was mainly the result of the incompetence of fiat exchanges. I am quite certain that if we would have had the current level of adoption back in 2017 in terms of fiat entry points, the price might have gone up to $40-$50,000 as well. People act like it was such an obvious top, but talking in hindsight is always easy. It's funny how some people on social media pretend to have sold the exact top and bought the exact bottom. Yeah right buddy. If you all had a single braincell you would have let it dip to 1K by now and bought where it was supposed to go.
People buy when the price goes up, and sell when the price goes down. I'm not too bothered by what others do, and at the end of the day, dumb money is what you sell to during tops, so there is really no need to complain about it.
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Investing in Bitcoin is cool and all, but if they don't believe in Bitcoin, they'll dump just as hard as they initially bought in. I like the Grayscale's ' drop Gold buy Bitcoin' campaign ad. It's the first time a wealthy entity actually does high level marketing for Bitcoin, which is petty neat. Time will tell whether it will help them attract more capital, but it's at least raising awareness, making Gold bugs react to it in a not so friendly manner. Some people got their teeny weeny triggered. Grayscale at current levels holds $1.2 billion in Bitcoin, which is just over 210,000BTC. Not a joke.
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The premiums on exchanges other than Bitfinex aren't that significant which indicates confidence in the stablecoin.
That just shows how stupid people are. Bitfinex has time on time again proven that it is a super shady entity, and people still use their exchange and stable coin. People are begging to see Tether implode in their face and their thousands or millions in Tether become worthless overnight. Their "confidence" in Tether will end up making them hate this space. Bitfinex guys must be laughing hard at how they can play this market without any serious consequences.
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