It depends on how you look at it. It's easy to say for an outsider that Bitcoin is a reasonable solution and/or hedge, which is true, but the majority of the people there can't do anything with Bitcoin.

You can't pay for your daily necessities with Bitcoin, which is what they actually need because they live from day to day not knowing what the next one will bring. News outlets have been fooling people about crypto adoption there.

If one local store accepts payments in Bitcoin, they directly refer to it as 'Venezuela Bitcoin adoption growing' where they add tons of gibberish to the story to spice things up. Not cool.

Could very well be with how the 200WMA offers support in pretty much every market, and that's exactly where the price bottomed last year. It might still be tested, but another bounce up will again confirm support there.

I'm already satisfied if we go up in a steady manner, because there isn't much to pump for. It will take some time to eat through the selling pressure in the next couple of months.

At every higher price level you'll have people selling coins to secure marginal profits and repeat that over and over again. It will be a new journey to break the $10,000 mark again, all based on non hype demand.

I agree. The thing that rightfully annoys people is that most services don't know how to properly run a business, likely because of inexperience, but that doesn't automatically makes them a scam.

On the other hand, we can't entirely discard to possibility of something shady going on here, Wirex is not a reputable business as Coinbase or Poloniex after all (especially the latter had to deal with a lot of account blocks).

It's quite similar to what happens when there is being browser mined. Not saying it applies to your case, but it is suspicious. Does the same happen when you visit other sites?

Fiat can be replaced with USDT or any other stablecoin. Yes, it's not exactly decentralized, but you can freely move the stablecoins without asking for permission, and that 24/7, which makes it a great alternative.

I'm sure that a lot people are open to stablecoins considering how strong and superior the adoption of USDT is. It's the only coin/token that actually does what it is meant to do, which can't be said about any other crypto.

The volumes USDT generates are twice as much as its market cap, which is pretty insane if you think about it, and that after all the shit and fud they went through. It's here to stay, regardless of what people think of it.

I don't think that Bakkt will be approved as it is (hope that I am wrong though). It will require them to ditch their Bitcoin backed futures and have them offer strictly cash settled futures. It stinks in every possible way.

One of the most reputable entities in the game can't get a simple platform approved, that should be a clear enough indication that the US doesn't want these big boys to offer you Bitcoin backed products. No way to get around it.

All they want is the market to be saturated with cash settled products to take away a large portion of the spot demand, and when you take into consideration that institutions and whatnot just want exposure, they won't care much.

Couldn't have said it better. It reminds of someone who said that in order to be successful in trading, you have to follow your heart and make the right decision, which is hilarious. It makes me laugh just thinking about it.

At the end of the day, trading is a guessing game. If you blindly guess you are more likely to be wrong. If you make an educated guess, you are more likely to be less wrong. Only a very few traders end their sessions with profit....

I know of myself that if it isn't a long term trade, like buy low sell high, there is no point for me to trade because I suck at it. I tried it, failed, then tried it with paper trading, failed again. I'm happy to distance myself from making mistakes.

I don't think newcomers are that frightened to be honest. If they really were, they wouldn't blindly use an exchange that has quite a bad reputation in the industry, which is very easy to fact check by using Google.

People nowadays Google everything, so there isn't much preventing them from doing the same with crypto exchanges. These exchanges are attractive because they list utter shitcoins other exchanges don't want to list.

It creates an incentive for people to sign up and send funds over to an exchange as Cryptopia. People like investing in shitcoins because they are cheap and pump harder than the top tier crypto currencies.

The crypto market being down, and further going down, is only a problem for noobs because the only thing they do is buy in and wait for the price to shoot up, which it hasn't been doing for over a year. It's a bear market after all....

There are enough platforms available allowing you to short almost every top tier crypto currency, so the decline we went through and so many people complain about could have been extremely profitable if you shorted.

I would say that it's too risky to still be short on the market and that it is better to stay out, at least for now. It wouldn't surprise me if we tank below the $3000 mark, but in the same way it wouldn't surprise me if we bottomed out already.

I don't get how they continue to stick to their flawed metrics that applied to 2017s bull run, by luck, but make close to zero sense today. It's like they completely ignore the crypto bear market for whatever reason.

Tom Lee ended up lowering his EOY prediction to $15,000 while it was more than clear that it was not going to happen, especially with how December and the first quarter of each year have proven to be a bad time frame for Bitcoin.

If Bitcoin did what it has been doing consistently throughout its existence, which is pump and dump hard, how likely is it that it will happen again? I would say extremely likely.

Charlie Lee (Litecoin creator) publicly called it before it started correcting.

Too bad it's always someone else that ends up suffering while those responsible for this madness have very likely done everything to hedge any potential negative consequences to protect their wealth.

Bitcoin offers anyone to do the same in order to protect their wealth, or at least a part of it. If Bitcoin wasn't an option I would buy myself into gold, because that was the best option we had before Bitcoin was a thing.

Overall, it was doomed to fail anyway. I strongly believe that we haven't even seen the worst. All we have seen so far is only a glimpse of what people will be going through in the coming years.

It's clear by now that there is no way to please the SEC other than stop coming up with new ETF proposals. They don't want it. I can't blame them, it must be frightening for them to stimulate this industry.

It wouldn't surprise me if they completely ignore coin backed ETFs and solely allow empty cash settled ETFs doing nothing but functioning as price tracker. It's the safest option in many ways and it translates into less spot demand.

In terms of Tom Lee's prediction about the S&P, it is perfectly possible that it bounces back up. His crypto predictions are rubbish, but he's not a joke when it comes to traditional markets, so don't write him off yet on that front.

Bitmain will not dump its BTC other than what they have to sell to cover operational cost. The rest is capital they need to strengthen their portfolio, and don't forget that they need BTC to artificially keep Bcash at a certain price level.

People blindly assume that CSW owns a lot of coins, yet don't have any actual evidence to back it up. In other words, they believe what this con artist said is true, which is exactly what he wants.

He thrives on chaos and idiots on the internet believing everything he tweets. He must have had an amazing time with news outlets continuously donating him valuable promotion, and that for weeks straight. Smh....

China has done enough to not be much of a factor for the price anymore, and we should be happy with it. Also, the fact that news outlets barely cover China related news articles helps decreasing its importance as well.

People need to accept that there doesn't always have to be a reason for the price to increase or decrease. It's a free market where any entity with deep enough pockets can move the price.

It's always when the price is going down that people blame manipulation, because that's when they are losing. Manipulation in form of increasing prices is perfectly fine, and you see no one complain. People are funny.

It's pretty high for sure, but still, people will use it just for the sake of not having to deal with annoying exchanges asking 1001 different questions before you can withdraw your funds.

I assume that with enough growing volumes, and more importantly, more competitors, the fees will come down significantly. If you are the only fiat entry point locally, that's a pretty solid advantage right there.

Another thing is that with a bull run increasing the demand significantly, people won't be too picky because they want to buy the coins they expect will quadruple in value, so that 7% is peanuts.

I haven't heard of that yet, but it's horrible for sure. Average joes aren't capable of making investment decisions, and we are being presented the evidence of that in the most brutal way.

These are usually the people who look up to experts a lot, and back in 2017 when everything kept going up these experts were right all the time, which for average joes might have been the reason to trust their opinions.

At least, those who got burned will likely not make the same mistake again. If they play it well, the next bull run will be where they sell into rathet than buy into. We all started as a noob and improve as time goes by.

The crypto winter isn't even over when we hit $5000 again. People turn bullish the moment we go up a few % and turn bearish if we go the other way. Since when is noob sentiment an indicator?

It's going to be interesting to see how the market reacts to a retest of the 200WMA, which it nicely respected the last time. If we fall below that there is still the $3000 physiological barrier that will trigger buy orders to come in.

So far, each time the volumes went down significantly there was a dump taking the market down, which seems to be an interesting enough development to exploit as trader. But you'll see, when I go for it, I'm rekt.

$6000 was what people referred to as boring as well, and now we have the same being said about the current price. Maybe that a dip below $3000 will show people what boring looks like....

I'm sure if we hit sub $3000 levels, we'll see them dump and maybe that will help us to get rid of these get rich quick noobs. People somehow are really begging for a shakeout, and it wouldn't be bad at this stage.

If you aren't here to use Bitcoin or to learn about it, you'll end up being bored even at $50,000 in the far future. Probably a sign that most people sit at home all day doing nothing.

Coinmarketcap doesn't care about any type of bad actor in the industry, so they definitely won't bother doing anything about a fairly reputable platform such as BitMEX. It's the most liquid exchange in the industry as well.

Within a very small range there is millions worth of liquidity, which is unseen here and won't likely be replicated any time soon. Probably not even in years with how people don't trust exchanges to provide liquidity.

At the end of the day, people aren't forced to use it, and their volumes and pricing is excluded, so there is not much harm it can do even if BitMEX wanted to. People need to grow a thicker skin. Welcome in crypto land....

In case of Bitcoin or crypto currencies in general, the timing is very important. If you run advertisements of any sort of crypto (or even an exchanging service) during a bear market, it could very easily work against you.

The majority has seen Bitcoin in the mainstream media pump to $20,000 and tank to $3000, and those who got into crypto in 2017 are rekt right now. In other words, the first group will laugh in your face, and the second is still angry.

I would say that Bitcoin related promotion followed by education is good, but pure marketing strategies to hype up the industry not. It will yet again lead to an influx of get rich quick noobs while we have so many of them already.

One of the most corrupt countries doesn't see much value in using blockchain technology to fight corruption, sounds about right. Governments rule by breaking their own laws, so why should they try to implement something to fight it?

They will run on private blockchains without anyone knowing. For you nothing will change since the services they offer are still the same, but everything on their end becomes more efficient and easier to cheat.

I never believed that corporate or governmental blockchains have it in them to prevent corruption. It's a tool that allows them to become more crooked than ever before. You really need decentralized blockchains for that.