Pah. The people in this market are so pathetic and skittish that give it a $200 move upwards and it'll be back to '100k by Christmas' again.
After all this time I still find it pitiful how easily spooked or stoked people are.
That is just the nature of investors, they want to have an asset that gives them huge gains but do not want to accept the volatility that comes with it, so whenever the market moves in one direction or the other you see their feelings changing accordingly, but look at the bright side if it was not for investors like that it will be impossible to make money in the markets since everyone will be taking the right decisions all the time. You nailed it. BTC is one of the most interesting assets when it comes to how sentiment seems to move in accordance to price movements. Compared to traditional commodities such as gold and silver that are considered to be good stores of value historically, it seems like that market participants are much more eager to be pro-cyclical as opposed to be going against the trend or at least holding their previous positions. There is really no reason to be panicking right now about just a few weeks of negative growth. Even if we slip into another short term bear market there shouldn't be much of an issue at all, given that fundamentals have simply not changed. Bottom-calling is just what comes with bearish sentiment naturally. |
|
|
|
Pretty accurate predictions actually. You called the rally in Chainlink as well, kudos. Resistance at $8.2k is still extremely strong, it doesn't seem like BTC will very easily break through that level at all. There is simply not enough bullish momentum to get us going anywhere near the 5 figure psychological level that would signal the resurgence of a bull market at the moment. I think that the more likely outcome is probably a dip below $8k, testing the $7.2k support that you speak of within your article. If that holds up we could see a very slow and stretched out recovery, and if not, there could be an extended period of bearishness. But I wouldn't be so quick to call this market right now a bear market, though. |
|
|
|
|
I'd think that this is much lesser of a question about ideology, and more about practicality.
Do you foresee any government giving up control over their respective domestic money supply any time soon? Absolutely not. We've seen how they've reacted already towards FB's intentions on launching their own coin which could potentially disrupt the way that central banks implement monetary policy, and it's not overwhelmingly positive is it.
Fiat will continue to exist for at least until there is a grassroot movement to move towards decentralisation of the money supply, imo. It is still by far the most dominant form of means of transaction globally.
|
|
|
|
While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
We can't. Wash trading is going to continue to happen regardless of what users do. All that we can do is look out for obvious signs as traders, and simply stop using exchanges that demonstrate shady behaviour like wash trading, faking volumes, and manipulating or propping up token/coin values. There is nothing else within our power that can be done, really. The signs are not always that obvious either which makes it much more difficult. It's just something that you have to live with really anytime you use a centralised exchange, that statistics may be fixed and so may the markets. |
|
|
|
|
Assume that it didn't. It seems extremely suspicious that it would come from two separate email domains when it's from the same service, and plus it ended up in spam. And if you never signed up to HitBTC, why would you even bother clicking it open?
It's likely a spoofed email address and/or a phishing attempt, imo.
But even if it was real, HitBTC is an absolutely terrible exchange to be using. I wouldn't even sign up to it if you asked me to, tbh.
|
|
|
|
|
The Bitfinex case just seems quite fishy to me. The people that are suing them don't really have any concrete case, and they are trying to claim an absurd amount in terms of damages that probably will never be reimbursed to them (not that they would be the rightful people to reimburse, anyhow).
I doubt that Binance would get dragged into this case at all, because firstly, it's incorporated in Malta, which has been historically very pro-crypto. And secondly, it has nothing to do with any sort of stablecoin or any major allegations of market manipulation really.
But yeah, for Bitfinex users, this ain't good news.
|
|
|
|
Can we truly have a fully decentralized system? For example, we control our own money, properties, internet etc. If we can, how can we achieve this and what obstacles can we face? I want to control my money and I don't want my government to control what I see on the internet. There are ways of overcoming some of these but the whole internet is coming from the ISPs. We may have a satellite(Elon Musk) for internet which makes the decentralization easier for us.
I'd say that it's next to impossible to achieve an economy that is fully decentralised. There are certain parts of the clog that is simply unfeasible or inefficient to decentralise. You've seen how decentralised exchanges have performed, for example. Cross currency trading has always been an issue that we've struggled with despite the best attempts at decentralising the entire process. Escrow platforms (in broader terms, ebay, alibaba, etc.) are likely going to continue to be centralised to some degree, and they really make up a ton of global retail trade right now. It makes sense to remove the middlemen in terms of a currency and decentralising the currency supply, some other things we just have to accept that there is a degree of centrality with. |
|
|
|
|
I wouldn't say that alts are going to be bullish just because of this one project that I haven't even heard before until you mentioned it in the OP.
The project itself doesn't even look that attractive tbh, 8k wallets is nothing in the grand scheme of things when you have gaming platform ICOs that don't even do that well with hundreds of thousands of active users as their primary selling point.
I'd say that ICOs and alts in general will probably never return to their former glory days of 2017, where FOMO was at its highest and so was market sentiment in general. These days of easing funding is long gone. Although, I do think that the market will probably pick up for altcoins as bitcoin dominance is at a high accounting for the past few years, and will likely adjust soon.
|
|
|
|
|
Looking back on the crash last month, it seems like that the main reason that propelled it are:
1. The FUD regarding the bitcoin hash rate drop
2. $10k support in BTC not holding, which led to a greater psychological effect on the rest of the market, also propelling the entire altcoin market down with it
At the end of the day, what I see is just a panic dump due to irrational market forces.
There is no reason to say that we're back into a bear market just yet. We'd have to wait and see where this thing bottoms, or whether a recovery occurs straight away.
|
|
|
|
|
I personally think that all reversible payment methods are flawed from the beginning, and is a big part why Paypal has such a bad reputation. The benefits that a reversible payment protocol brings is far outweighed by the negatives that come with it, in my opinion.
Sure, BTC's irreversibility means that victims of scams may not be able to recoup their losses, but on the flip side, the fungibility of the currency being transacted is vastly improved, sellers no longer have to worry about chargebacks, and it essentially encourages prudent decision making much more than a payment method that you know you can chargeback later on down the line.
I'd rather take an irreversible currency any day, because I know it's much more desirable. The benefits simply outweigh the detriments, again.
|
|
|
|
One of the hottest and most anticipated upcoming technology trends for 2019 is the Fifth Generation (5G) wireless network technology. Rumored to start the new internet of things epoch! Knowing that there is a lot of crypto startups that are using blockchain for various interconnectivity applications and purposes, do you think this might be a good chance for crypto to go more mainstream implementing itself with the new opportunity for decentralized data storing and thus decentralized internet of things?
Not all technological advances are relevant to the development of BTC or adoption. BTCs can already be transacted even with the worst of the worst connections, so I'm not sure how improving already good connections in 4G covered areas (which will primarily be where 5G will initially be rolled out) will help mainstream BTC adoption. The improved bandwidth is simply not needed for the bitcoin network to be accessed, or thrive. |
|
|
|
|
It's interesting how the community has known about this all of along, while mainstream outlets report this as something sensational or just found.
But yeah, we can see case studies of this in countries that have authoritarian regimes and economies deep in trouble. The prime example right now is probably Venezuela. With Maduro and Chavez before him, you can probably tell that the economy isn't doing too well with hyperinflation and decline in petrol exports.
BTC can play a significant role not only diminishing the control of the government over how the population transacts, but also protects individuals from the imminent depreciation of the currency that they hold. Again, this simply proves critics of bitcoin who say that it has no practical use completely wrong.
|
|
|
|
Now that LocalBitcoins is enforcing KYC, I'm looking for a good alternative to cash out crypto to my bank account. If you guys can post the platform/services you are using, that would be great. It would be nice to find something that works quickly, I don't want to wait weeks to get my money.
You can either just keep creating new LBC accounts (probably against their ToS so do at your own risk), and bypass the entire verification process altogether for your first $1k trading volume, or use Paxful. I've used Paxful plenty of times before. Can't say that it's as good as LBC is or was, because of various reasons including worse rates, a scam attempt where a seller tried to sell me a stolen credit card, and just a general lack of reputation compared to LBC. But if you're seeking a quick alternative, then Paxful should be completely okay. Otherwise, try trading with Bisq, or Hodlhodl. I've heard good thing about them both but haven't tried them myself personally. |
|
|
|
Fair value is a concept that seems really good on paper to form trading signals, but in reality, probably doesn't even exist. After all, at any given moment, the fair value is really just the market value of an asset. The demand and supply come together to form the market value, and that should be the market's equilibrium and that given moment. I'd say just look at sentiment for starters, if you want to find whether a coin is overvalued or undervalued. If sentiment is bullish and people are FOMOing, then the coin is likely to be extremely overvalued, and vice versa. Finding "fair value" requires a ton of modelling that I don't think casual traders are simply up for. |
|
|
|
Guys, do you know good trading chats where traders share their ideas, discuss trading and so on? I know some in russian telegram, but wanna join english speaking community.
Also, how do you think if it is worth creating my own chat for traders? I see a lot of high rank members leaving comments on my topics and I see here some guys making market review on daily basis.
A lot of clever community members. As for me, trading is my passion and I have russian telegram channel where I give my thoughts on market and entry points with stop losses.
Can we cooperate to discuss trading, sharing some experience? Tell me your thoughts.
UPD:
Based on feedback I will try to create healthy community and let's see if it works
Guys, I don't want you to buy something from me, let's discuss trading . In pinned message I've described my experience, road from 0.1 to 4btc, road from 100$ to 5000$ and comission cashback offer.
Here is link @golstrim_trade
There is a ton of trading chats. I echo the sentiment of others in commending the TradingView chat, it is one of the most entertaining chatrooms in regards to crypto speculation there is, and probably one of the most active as well. My problem with Telegram chats is that most of them quickly turn into just a shill breeding ground for a particular altcoin that the admin/mods are sponsored by, or it doesn't encapsulate sufficient opinions from a true cross section of traders so that it creates sort of an echo chamber. There probably isn't a lot of value to be had either by creating an entirely new chat, because you'll likely not attract any seasoned traders per se. If you enjoy it and don't mind putting in the effort for probably little to no reward, then go ahead. Otherwise, just hop onto tradingview. |
|
|
|
Is absolutely no one noticing what terms the users are subject in order to just withdraw their funds? Obviously you, as a trader, are encouraged to withdraw your funds as soon as possible. Our team stands ready to help you get a smooth withdrawal process, however, the rules regarding identification (KYC), as stated in the terms of service that you have accepted when opening your account, must, and will, stand.
No identification - No withdrawal.
It is as simple as that. Even though trading will close, we must comply with the law, and make sure that all funds end up with its rightful owner.
The Nova platform will be open for regular withdrawals for one month after this announcement; that is until October 25 at 23:59 (CEST). After that date there will be additional fees charged, and we can’t guarantee at what rate we can accommodate your requests. It might take up to 30 days, depending on the load. So please make your withdrawals at your earliest convenience and DO NOT deposit more funds in the now obsolete addresses that you have used in the past.
- Starting from October 28th until November 27th, there will be an equivalent to 0.0001 BTC custody fee charged at the time of the withdrawal request.
- Starting from November 28th until December 19th, there will be an equivalent to 0.005 BTC custody fee charged at the time of the withdrawal request.
- Starting from December 20th until January 27th, there will be an equivalent to 0.01 BTC custody fee charged at the time of the withdrawal request. This screams predatory behaviour to me. I highly doubt that they would have any issues processing withdrawals without conducting KYC, when they had previously done so with no problems when the site was running smoothly. It's just an excuse for holding funds, imo. Furthermore, the "custody fees" is completely unreasonable to me, especially for people with smaller balances. Firstly, it doesn't cost that much to hold funds in a cold wallet. Secondly, it's not the user's choice that you're shutting down, it's your own. It does seem like Nova is planning on reopening in some way shape or form according to the wording of this announcement, but I would avoid it like the plague. They've proven to be incompetent in keeping themselves relevant or even offering basic customer courtesy and service. |
|
|
|
|
I still think that bitcoin will likely retest the $8k support once again, and potentially fall under that before a rally in the latter parts of Q4 as we have seen historically to be the case.
The sentiment is still bearish, and I wouldn't jump to conclusions either way as to which direction the next move is. We're seeing sizeable rebounds once BTC dipped below $8k, but also quite some resistance when it comes to testing the $8.5k barrier.
There is really in no way a bull run. Markets are still consolidating and the signals are mixed right now. I'd say that if there was a dip under $7.5k we can safely say that we've entered bearish territory for good, but if BTC recovers above $9k, this could be the start of the recovery.
Either way, it's much better to focus on longer term stuff and fundamentals as opposed to this, imho.
|
|
|
|
The third quarter of 2019 has been completed. Prior to this quarter, we saw one of the strongest quarters in price increase in Bitcoin's history. Somehow it is therefore not illogical that we have seen a correction during the past quarter. If we look at the price evolution of the last three months, we see that the price has made a sideways movement, indicating an equilibrium between buyers and sellers in the market.
However, the price has seen a double-digit decline in the last week of September. There is a 40% difference between the peak at the end of June and the current daily price. This is significant but it is important that we look at everything in perspective.
Bitcoin is still the best performing asset in the world in 2019 with a return of + 100%.
We have also seen in the previous cycles that corrections between 30-40% in the upward spiral are not exceptional.
This can be explained by the fact that investors with an investment horizon want to realise their profits in the short term. This puts a negative pressure on the price since the supply exceeds demand in the short term.
We want to emphasise once again that our vision is based on the long term. As HODLers, we want to avoid missing out on the ultimate appreciation in price by briefly reducing our exposure to the market. Absolutely well said. People seem to make too much out of this completely natural phenomenon. It's not just the BTC markets either, if we see significant bullish rallies within any commodities or asset market in general in a short period of time that is obviously unsustainable, it shouldn't come as a surprise to anyone that a correction due to profit-takers, weak hands and short term speculators trading on leverage will occur sooner or later. The magnitude of this correction is clearly over-exaggerated. I don't think that it makes much sense at all to be speaking of this correction as some sort of fall out in the markets whatsoever. 40+% corrections are not unseen. Short term sentiment can vary extremely given the volatility of the BTC markets. |
|
|
|
I personally think that SC is relatively undervalued at 20 sats, both in comparison to its historical values as well as the fundamentals that it has, in relation to what other projects offer. They do have a nice community and active development, as opposed to a lot of projects which are created solely for the purpose of pump & dumps. However, I don't think that the upside is that great unless a crypto-wide bull market actually hits. If the markets do turn bullish and there is a degree of FOMO back into the altcoin market, then SC definitely has the potential to rally to 100+ sats (not unseen before, mind you, given the ATH of 800+ sats). |
|
|
|
I already got a nice reward from them a few years ago and it still running until now. But I don't know how good they are now because I don't invest with them again, and I receive the rewards only. I call bullshit on this. What service were you with? If it generated a profit, then it would have likely been a ponzi scheme first of all and you may have simply been one of the lucky few first investors that had your investment returned to set up the latter stages of the exit scam. And even assuming all the best, including the fact that you really generated a profit and the cloud mining company was actually mining, it would have probably came in the very short term where BTC or the altcoin you were mining was rallying hard. But in that case, investing in such tokens would still not be worth it since you would have definitely made more from simply buying the coin that rallied itself. |
|
|
|
|
Show Posts
