Unfortunately we have already moved away from the goal of bitcoin mentioned by Satoshi Nakamoto as we hardly use Bitcoin as a p2p transaction rather we invest into bitcoin for profit and since the institutional investments started pouring into bitcoin it has changed the course of game and I know still some of us use Bitcoin for P2P but there are other cryptos which provides faster transaction speed and almost zero transaction fee hence bitcoin is no longer utilized as P2P and rather an investment medium which has come under government's radar wherein they have already started implementing taxes on Bitcoin and trying to regulate it. We need to accept this fact and understand that the original goal has been ruined and it has been turned into more of a investment medium wherein corporates can change the tide anytime they want.
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Two well-known bloggers with a large audience are talking about the rise in the price of bitcoin. https://twitter.com/MMCrypto/status/1490958391048810496"#BITCOIN IS EXPLODING!! [finally]" https://twitter.com/TheMoonCarl/status/1490988524920709127"#Bitcoin to $100,000 this year or I delete my Twitter account..." According to the laws of the market, most participants lose their money, and I think that market makers will not raise prices now, because many people bought bitcoin in the range of 45-60 thousand dollars. I think that this is a big deception and a trap, after which the price will be reduced first to the range of 32 thousand and then even lower, for example, by 25 thousand. We shouldn't be giving importance to these bloggers who just predict things as per the current market situation and they never predict before a bear market or dip, they are not reliable. I don't think bitcoin will drop below $30k anytime sooner as it has already bounced back and approaching $50k mark, had it been a bull trap they price will not remain above $40k for even few days. I think we were going through correction phase and now it's in the upward direction once again. Market maker will raise the price now in order for them to take profit our of existing invetsment they have made when bitcoin was above $45k
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I think shiba inu will just stay at this current position because of the market capitalization that’s already tremendously high. in the future it could grow its market capitalization with strict requirement that the overall capitalization of the cryptocurrency market are also rising. regardless, these kind of altcoins like meme coins could always being replaced by its better version of meme coins that could be released in the future, surely very few of us expected that shiba inu could become a real competition for doge thats also the right reason to think that in the future we could see some meme coins repeating the same achievement that doge and shiba inu has.
Just like how Doge is stable between $0.15 and $0.2 after unexpected pump due to Elon's tweet and then dropping down i think Shibu has also found similar slot between $0.000025 to $0.00004 but we know that both coins cannot sustain longer as once the dust settles down the user will be looking for technology based coins or service related coins which hold value in our daily life rather than meme coins. I think Shibu coin have capability to pump in further bullrun but not beyond a certain limit like some users are day dreaming it to reach $1 which is logically impossible.
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We need deep understanding about the ground situation in Kazakhstan whether there regular domestic and commercial power supply has been affected by the power consumed by the miners or else what's the reason behind this massive surge in electricity charges and tax, if it's affecting their power supply or creating shortage then they have all the right and it's a sensible decision but it's just the greed of government to extort money from miners then again they have to migrate to a more crypto friendly nations.
The problem here could be the rich miners exploiting the cheap rates, there should be an MOU signed between government and miners to ensure it should be mutually beneficial.
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It seems that the trust wallet would be the best option they do not have KYC verification and Coinomi use 3rd party simplex that accepts debit/credit card. Anyway, adding this I found a big list of exchanges without KYC required and other P2P exchanges. Check them here https://bitcointalk.org/index.php?topic=5270416.0Thanks for sharing this list as I have found it really difficult to find a reliable exchange for P2P trading especially for crypto to fiat, it was good when localbitcoin.com was not enforcing the KYC but eventually it started forcing KYC on us to do KYC and those exchanges which don't mandate KYC either have higher fees or else volume will be too low. Hoping to find a better exchange with high volume and lower fees in this list.
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Why would someone go for a new project which doesn't have anything new to offer and rather a replica of one more meme coins which became mainstream because of an influencer tweeting about it .
We should refrain from investing in such project and look for projects which offers promising technology to ease up our life and there are so many coins out there in the market which just replicate other projects especially meme coins. It's time to stop caring about shit coins and look for better technologies.
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Looking at last few months I think the market is at the verge of either rising further and moving towards new ATH or else it will drop further to a new low (very unlikely) but it will not hang on to the current zone of stability. I am using Bitcoin as a reference as it will either break $50k and rally towards $70k or else go back to under $40k as it cannot stay over $40k and below $50k for longer period of time.
I will not go deep into further analysis as most of the time they are inaccurate hence would like to go ahead with market emotions. What's your take on this? Are We at the most crucial part situation between major rise and bear market?
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If we are to talk about old smart contract project that's on par with ETH in existence term it will be Tron, how can Tron still be value at few cents since released? What's holding this project back? Transaction fee is cheap and transaction speed is faster, I'm just surprised how matic, Polkadot and Avalanche that are new projects beats Tron TRC20.. is Justin Sun to be blame for its failure?
No doubt that fee in tron is truly cheap. But projects are free to choose for their own networks and it's that there are projects that still rely on decentralized network of Ethereum. The co founder of tron even said that it's centralized and that's the reason that holds them back. Sun has already resigned or retired as the ceo of it. But the damage has already been done regardless Justin Sun has retired or left the Tron, TRX was once pitched to be the successor of ETH and would become #1 Altcoin but things never picked up for TRON due to the controversy involving Justin Sane and I don't thing it can be revived without a radical changes which would be required for it to grow further and what the point of having supply when the value has not given.
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Overthink is the perfect word to describe the mindset of people as you said either people will say bitcoin will cross $1 million mark when it rises by 10% or 20% and start posts like bitcoin will takeover fiat, etc and at the same time there are the other set of people who will always find an opportunity to diss bitcoin who will post stuffs like end of bitcoin, bitcoin bubble about to break whenever there is a drop of even 10%.
We need to be realistic as bitcoin or let it be any crypto they can never takeover traditional fiat and even if any country splits and adopts crypto they will have their own digital currency and will not be risking by adopting Bitcoin as their currency.
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It will help us to avoid scam projects but we have various ICO ranking site which does validation still people don't buy in those validation due to favorism which has happened in the past for ICO rankings and it's obvious that people will not believe them different sites have different info like one ranking site rates a project 4/5 while other says it's 2.5/5 then we cannot rely on them as either one of them is giving our false information. If CMC or coingecko starts doing it then it would be helpful and there needs to be a standard protocol which should be followed and they should list only whose ICO's wherein team verification has been completed.
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Those who are going to panic sell should take a look at this post before they sell under pressure as they often miss out to look at broader picture. This applies to all those who just wants to invest and wait without doing much because they will be in gain if they don't sell and we should consider the period between beginning of January 2018 and end of 2020 as an example how bitcoin can eventually comeback even after a terrible bear market. I am sure most of us though bitcoin will never cross $20k when it dropped below $5k in January 2019.
Thank you sharing this wonderful post, some of us might not agree with the post stating Bitcoin is unpredictable but I thing we have the facts and figures in the chart and that's enough for smart people to understand how bitcoin works.
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Staking gives you a return on investment (passive income) but if we hodl we will not be able to earn anything extra as the amount will be resting in your wallet. But staking comes with a tie in process wherein you stake it for some duration and there are chances that one may end up with lesser amount than what it was at the time of staking period because prices might come down and you might not be able to sell it due to lock in period which is not the case with hodl.
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2021 was one of the best years and learning curve for me and i have the following plans for 2022 based on 2021. I will be investing into top altcoins like ADA, MATIC and Solano as these coins have almost dropped by 3X from their ATH and it will take just one bullrun to go reachieve or even break the previous ATH. As its proven that too coins will always pump back regardless of dip and also bitcoin investment is must. I will always use stop loss and OCO by overcoming greed. I will not be investing into shit coins or meme coins and stay away from low volume exchanges.
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You may always go back and edit your post as it took a while to understand what is being posted.
Now if you have 1 BTC which is trading at $42k then you have 1 BTC whose value is equivalent to $42k. If you hold it for ten years and it's value increases by 10x then you have 1 BTC whose value is equivalent to $42000 *10 = $420k . If you hold it for ten years and it's value decreases by 10X then you still have 1 BTC whose value is equivalent to $42000/10= $4200.
Let's keep these calculations aside and discuss about what matters the most which is patience and controlling our emotions when bitcoin dumps and rises and starts dumping. Only if we are able to hodl bitcoin for such long time we may be able to relate ethe above calculation else we would just be regretting after selling it off
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Bitcoin has pumped by 30% in last two weeks as the value of bitcoin was $32917 (lowest on that day) on 24tg January 2022 and it touched $43000 today and this can't be bull trap as its a sure signal that Bitcoin is rallying towards $50k once again.
I thought it's a bull trap but there will not be a leverage of 30% for bulltrap and I have decided to invest back into crypto and infact cashed in once it crossed $42k. What's your take on Bitcoin price?
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We shouldn't be going with analysis provided by others let it even be an expert or influencer because they cannot predict it before dump and once the market dumped they started predicting bear market except few, vice verse for bullrun as well.
We may compare their analysis with ours to understand if we are on same page or why do we differ, i have seen youtubers stating Bitcoin will cross $70k with some golden triangle analysis and next week it dumps hard so noone can predict they can just share their point of view.
As i have said in the past this time it's too confusing and we are left with only one options and they go with the market flow and avoid investing any new funds.
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If we consider last two days chart we can say that Bitcoin would rally towards $100k but if you look at last 2 months chart then it will drop. Now it's been two days since bitcoin has crossed $40k and if it sustains to stay over this mark for an extended period of time and rally towards $50k then we may consider bitcoin hinting a new ATH. But on the other hand if it stays around $40k and gradually reduces then we should be ready for one more bearish run.
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Bitcoin has made good progress in last two days, we all know that altcoins will follow the same path and some Altcoins like Binance have already started to surge so I feel this would be the right moment to invest into Altcoins like ADA, Solana and ICP which are ready to explode any moments, what's your take on this? Things will be in our favour of we choose the altcoin's wisely and better to invest now rather doing r when it reaches the peak. But my only worry is what if it's one more bulltrap.
Keep doing the analysis first when you want to enter the market and you should buy gradually even though currently the bitcoin price has gone up to the level of $41k and it could be that the current increase is a bull trap because if we look at the bitcoin price since the beginning of this year, the bitcoin price has experienced strong downward pressure, so I'm not too sure whether the current increase will continue until bitcoin returns to its previous high. That's what I am stressing here even though this doesn't look like bulltrap but we have seen gradual reduction in last few months which is not a good sign as as I type this post Bitcoin is well above $41k which is still 11% less than what it was 30 days ago (5th January 2022 it was $47k). I have mentioned some scenarios which describes the current market situation for bitcoin. Bitcoin dumps by 10% After a while bitcoin pumps by 4% Then again bitcoin dumos by 1% for 5 days in a week Bitcoin again pumps by 2% This is how the market has been trending thus making it difficult to come to a conclusion whether to invest or wait for one more opportunity. I am talking about short term as long term invetsors don't have to bother about these fluctuations.
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Bitcoin has made good progress in last two days, we all know that altcoins will follow the same path and some Altcoins like Binance have already started to surge so I feel this would be the right moment to invest into Altcoins like ADA, Solana and ICP which are ready to explode any moments, what's your take on this? Things will be in our favour of we choose the altcoin's wisely and better to invest now rather doing r when it reaches the peak.
But my only worry is what if it's one more bulltrap.
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@kentrolla
Please make full week. It makes it easier to validate then.
Sure Thank you
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