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I see the bottom at 6k, strong resisstance zone...instantly bounced back from these regions in the past
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I believe that the market will quickly approach the bull after the SEC's choice has positive outcome but if the result has a harmful effect. Most probably the bitcoin market will stay fluctuation even it might go down yet again.
We don't need this ETF garbage, SEC will defining the position not this year. Please look on the technology and infrastructure development instead I also like to remind people to look at what has been build so far but few care about these depths...the masses is looking for signals from the regulations because they "know" that if there is green light then the big money is coming in...they might be right though. |
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I'm afraid it's too early to buy. The price is not stable yet and bitcoin may drop below $ 6,000. I think spring or winter would be a good time for shopping)
Even if it does drop below 6k, it will not stay there...the risk/return rewards are looking very much in favour of buying now |
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Is that the very bad news? its not really a bad new if the price of bitcoin isn't moving forward for the month of August. We just have to move on and look forward that this September is going to be another month that's full of hope. There will be downtrends but its not going to stay for long.
I also fail to see the bad news, since the entire year pessimists said Bitcoin will go to 3k...all just smoke and dust |
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I see a real possibility that this can happen. The ETFs wll get approved at some stage in the near future. With every new application we get a bit closer getting this achieved. Also note it got delayed, not rejected, in other words, the SEC does still consider it. In case it does indeed rule in favour I would say 30k is a conservative estimate.
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We have not really identified the market yet so it is best to wait at this time.
Speak for yourself. It's obvious that the market is setting lower highs continuously, which is what markets do during bearish cycles. People really need to accept that the current price isn't low, nor is it going to pump any time soon. The market had no chance to properly bottom out with how the ETF speculation fuels people's hope for another bull run this year, and then we have idiotic public faces throwing around with crazy high end of the year predictions. Seriously, what's wrong with everyone? Did the crypto market ever do things the mass was expecting to happen? Never. Did the crypto market ever do things the mass was not expecting to happen? All the time. Last year's bull run was so explosive because no one (including the most elite traders) expected it to happen. People had only one option at that point, which was to fomo in at any price. People right now have bought in already or are bagholders from last year's bull run. In other words, there is only selling pressure to eat through. Not a good environment for a bull run. i think it is mainly a confidence reason or lack thereof. people are still not sure about the short term result of bitcoin price so they are mainly waiting. someone said the other day that "only bots are remaining in the market" although i don't agree with it but it makes sense. investors are still not back in because they may be afraid of the short term fluctuations and the manipulation that may come with ETF rejection. if we didn't have that, we might have been seeing a very different market today. the delay of the decision regarding ETFs has certainly pushed bitcoin down, even below an important Fibonacci retracement zone. Technical Analysts recommend to get out of Bitcoin or alts as we head toward 3k. I would stay calm and rather this as a buying opportunity. The ETFs wll get approved at some stage in the near future. With every new application we get a bit closer getting this achieved. Also note it got delayed, not rejected, in other words, the SEC does still consider it. |
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We have not really identified the market yet so it is best to wait at this time.
Speak for yourself. It's obvious that the market is setting lower highs continuously, which is what markets do during bearish cycles. People really need to accept that the current price isn't low, nor is it going to pump any time soon. The market had no chance to properly bottom out with how the ETF speculation fuels people's hope for another bull run this year, and then we have idiotic public faces throwing around with crazy high end of the year predictions. Seriously, what's wrong with everyone? Did the crypto market ever do things the mass was expecting to happen? Never. Did the crypto market ever do things the mass was not expecting to happen? All the time. Last year's bull run was so explosive because no one (including the most elite traders) expected it to happen. People had only one option at that point, which was to fomo in at any price. People right now have bought in already or are bagholders from last year's bull run. In other words, there is only selling pressure to eat through. Not a good environment for a bull run. the delay of the decision regarding ETFs has certainly pushed bitcoin down, even below an important Fibonacci retracement zone. Technical Analysts recommend to get out of Bitcoin or alts as we head toward 3k. I would stay calm and rather this as a buying opportunity. The ETFs wll get approved at some stage in the near future. With every new application we get a bit closer getting this achieved. Also note it got delayed, not rejected, in other words, the SEC does still consider it. Well that's true however we do have a very good chance to actually break the lower highs on the weekly chart. It just needs more volume but it can certainly happen this time since we only have to break 8500$ and we are at 7000$ already. Some good FUD can do the trick, so far bulls have been doing ok in the past 2 weeks. i think it is mainly a confidence reason or lack thereof. people are still not sure about the short term result of bitcoin price so they are mainly waiting. someone said the other day that "only bots are remaining in the market" although i don't agree with it but it makes sense. investors are still not back in because they may be afraid of the short term fluctuations and the manipulation that may come with ETF rejection. if we didn't have that, we might have been seeing a very different market today. |
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Without a doubt it will hit 1 trillion. Bitcoin or the Crypto currency market never reached a marketcap above 1 Trillion. When the dotcom bubble was bursting, the new economy market has reached 10 trillion. We are so early days, we didn‘t even start to cross the casm if that term says something to. Otherwise research it.
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Certainly not gonna happen.You're way far from thinking mate. Existence of BITCOIN will do nothing. It is just a digital currency and it doessn't have anything to do with poverty. Don't be so unrealistic pal, POVERTY will never be gone and that's a fact even if you stay here a THOUSAND years longer.
Poverty can't really be disappear from this earth's civilization but at least if they learn what BTC or Crypto can they start a business from it.For example,there are many unemployed people in the real world but they do business in crypto,which is only through internet media.Gradually the balance occurs between the rich and the poor. That is also my view, of course a currency alone can not end poverty, also poverty cannot be ended if the rich get a bit more generous and pay the poor...it will only have a short term effect. Buying fishes for a homeless one is a nice gesture, but thousand time more valuable is to teach someone fishing. Crypto can be seen as a tool to catch fishes and people just need to start using it. |
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The situation is not going to be better for the next 10 years probably. Our currency devalued almost %100 in a few months and this is not just against USD but almost against every FIAT currency there is.
An instability in Turkey would trigger the next world war. That's how serious it is. Venezuela is in somewhere far away. So is Argentina. Turkey is just next to Europe. EU couldn't even handle a couple million Syrians. What would happen if ten million Turks decide to leave the country?
War.
USA is abusing this country since 1950's. I can't blame them for being assholes. Since they try to do the same thing to Russia and Iran too but somehow they failed it since those dudes appear to be smarter than the Turks. This is evolution. Survival of the fittest. Kill or get killed.
What I can do now is;
I can either buy physical USD & Gold (preferably) which I probably won't be able to use in the future if the situation gets worse as it happened in Venezuela & Iran or,
I can buy bitcoin and freely travel my wealth with me since it has no physical mass like papers or stones which is a huge advantage but It also comes with its own risks. (remember this shit is still in beta and we are its beta testers)
I've witnessed the evolution of Bitcoin since 2013 to today, I've decided to convert all of my monthly income into Bitcoin since March. I hope I will be able to find a hole to hide my ass when the shit hits the fan.
This doesn't look good. Not one bit.
This sounds very concerning. I hope it will not get that far. At least you are into Crypto and were prepared, it was a good move to convert everything into Bitcoin since March so you did not loose 100% of the value. The adoption of Bitcoin in Turkey is exponentially increasing based what I hear, at least compared to other regions and probably because many others are following a similar path. I am not sure what the Americans have to do with the devaluation of the Lira though. I agree the region would have been doing better without their interference. The weakness of the currency I believe is rather rooted in Erdogans money policy, which is similar to the American one of money printing and endless depth. I see many parallels at least. Do you see other reasons for the collapse? |
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DO NOT SELL! JUST HODL - You've not loss any money if you haven't sold.
Yes, this is true, you never lose any amount in your holdings if you do not sell in low.
just keep holding and make your self-comfortable in waiting for the Bull season.
we will get into that soon.
Your understanding of this is very limited and fundamentally flawed. By holding in a prolonged bear market you're not literally losing money but purchasing power because your coins are losing value. People are saying to hold and never sell at a loss because they believe in BTC and that this bear market is only temporary. That's what I believe too, but holding doesn't make you safer or smarter than the rest. What if the market keeps declining and right before it's about to recover something bad happens, like another blockchain bottleneck or a series of hacks? You'll end up waiting another 5-10 years for a recovery. What you're referring to is the opportunity cost of holding in a bear market. If your holdings are worth $5,000, you might believe they will eventually be worth more, but the if you continue to hold it could continue to trend lower and you would be better off selling now and buying at the lower price and earning more in the long run if you're right. The problem with this is nobody can predict day-to-day movements, so selling opens you up to risk that you're wrong about the price continuing to drop in the short term and then miss out on the longer term trend of rising prices that you ultimately believed in anyway. Short term trading opens you up to more inefficiency than simply holding and taking advantage of long term trends. I can the logic in both arguments, in the end people have to chose the option they feel suits them best. I burned my fingers in the past with short term predictions and trading these, so this time I refrained from selling even though we just went lower and lower...but I don't have to check my balances or checkin on coinmarketcap several times a day...if you can't get that bit of a distance and scratching your hair everytime your coins sink lower than indeed the hodl strategy might not be the most suitable one for you. |
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Nice. I personally love it. Every time i see that some service is available via crypto payments i do it that way. First i dont disclose my information, and it is quick and safe.
Crypto over card payment every day!
Same here, funny enough I started using crypto in real life after I speculated at the exchanges...it should be the other way around. I spent a lot of time looking for merchants on the net that accept crypto, it's still the vast minority but the list is growing. |
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I don't agree with OP about a real job being better and more stable. It all depends on your working conditions, the country you are in, many other things.
I'll give you something to compare:
Guy 1:
Living in a country with an average net income per capita of $2000 a month.
Has monthly expenses (food and bills) of $1000
Earns $1800 a month in his day job working 8 hours a day (has to drive an hour a day to work, pay for fuel, sit 8 hours a day in an office).
He gets into mining and trading part time, earns $1000 a month on the average. Starts thinking that he might turn it into a full time thing, double the profits, stay at home, cut fuel expenses. Undecided
Now this is hard to say if he should or shouldn't do it. A stable job is always better if the only thing you'd be getting out of it is more free time and no need to drive to work every day, although in some cases it might be better for him like if his wife is working and he could stay home with kids instead of hiring a nanny or asking grandma to do it.
Guy2:
Living in a country when the average income is $600 a month
Monthly expenses are $300 a month.
Earns $500 a month working his ass off every day working for 8 hours + overtime in a physical job like driving a truck or unloading packages in a warehouse.
Starts trading, writing in a signature campaign, investing in ICOs, claiming airdrops. Earns $500 on the average.
In that case it would be advisable to quit that day job and focus on cryptocurrency. Physical work always strains your body and there's a chance of getting hurt while doing it.
It's not worth risking your health in a job that barely covers your monthly bills and food while you can get similar money sitting at home, sipping tea, watching the charts. There's also a high chance of doubling your profit.
If you have a career and a chance of climbing the ladder at work, stay there. If you're at the bottom and barely earning anything quit and focus on cryptocurrency while you're looking for something better.
This OP started with some really good comments and examples, unfortunately in the recent pages it dumbed down a bit and got one sided. Therefore I would like to highlight this brilliant comment...it is not that black or white people. I all depends on your specific situation. |
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A lot of good points. Many have said that fiat is necessary now. Well, obviously, the question was whether fiat would be necessary in the future.
Fiat has been tested for how long period of time,while virtual money was just here for only 10-15 years so please never compared the two because they are two different thing that has single purpose and that is to serve the people
Fiat has not been tested for a long period of time, maybe 75 years total. Before that it was gold or gold-backed currencies. This discussion has been coming up everywhere recently. Although,I do not support the phasing out of the Fiat currency, I can't really find a point to back its existence. But I still think it's asking too much. Even if cryptocurrencies would replace Fiat, it would take a lot of time. But before than happens, some things must be taken care of. Take for example the volatility of cryptocurrencies. Such variable makes it too difficult to be made a major means of exchange. This is only one of the issues that I have in mind.
Volatility is not an issue, the volatility has been going down every year and will continue to do so. Given the risks involved, l don't see a total switch to digital money anytime soon. Besides, an increasing acceptance of digital money comes with some compromises. The government in South Korea demanded that crypto accounts not be anonymous, but use actual name. This will facilitate taxation, and trace corruption. These and a number of measures will be taken by governments around the world. Besides, do you see the internet connectivity rate being 100% all around the world? What of those places without access, how do they functions?
This is a good point. If crytpo is decentralized, and if all the governments use it, doesn't it mean, all economies are one?  No, all economies are not one, because governments will have different overall tax rates, will tax different things (income tax vs. corporate tax vs. sales tax), have different deductions, different agreements with each other for mutual taxation, will decide to spend the money on different purposes, etc. Hey! What you are saying it is great, but what is the reason for such a switch? I don't think that governments are ready to work with crypto instead of fiat money. Moreover, fiat money give them several tools to manage economics. For example, interest rates, money supply etc. By increasing the emission, by lowering rates or by QE programms, central banks stimulate business activity. I can't see such a possibility when using Bitcoin, for example, as the emission is limited and the very crypto is out of reach for central banks
I don't see that any of those tools work to manage economies. By changing interest rates and the money supply, ostensibly to "stimulate" the economy, governments have created massive bubbles with catastrophic results. The thinking is that consumer demand for products needs to be increased during a recession. But most of the products people buy are junked within a few years and the individual has nothing to show for it, while savings rates are very low. It is nothing more than a transfer of wealth from poor/middle-class to corporations. How does that benefit the economy? Also the money that is spent to "stimulate" the economy is money that could have been spent elsewhere - eg, infrastructure, education. So I would say that direct money spent has had the effect of enervating the economy by diverting it from more productive use. At least 2 good points - difficulty in in-person, small, retail transactions, and internet connectivity issues. But even these are potentially solvable in the future. The technology to collect crypto could become so cheap that even small retailers and stalls could accept crypto, also internet connectivity improves all the time, maybe there will even be backup internet connections available at some point. But even so, it is good to have fiat as a backup currency. Very well put together, some arguments make sense but if you look at the pace of technology, in a few years every retailer probably will have a manchine (Pundix?) that converts any crypto to a currency of they acceptance, people will have embraced crypto currency a lot more and use for commerce, at least there is a high degree of probability. I see another concern from a different direction, most of us typing here live in so called privileged countries, not only do we have fresh water, but also electricity and even high tech such as smart phones...however we are in the minority. Large parts of the planet does not have these luxuries, not even clean drinking water or sanitary installations. |
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Turkey might be too small to trigger another bull run but Turkey is just one country in financial turmoil and there is more to come.
Many experts see a high degree of probability that after a 10 year bull run on the stock market, it is time for a collapse. Also due to the fact that this has been a phony recovery enabled mainly through government bailouts, massive depths and money printing we have never seen in history before. And even if there is no stock market crash, many European countries like Italy, Spain or Greece are facing similar issues regarding their budgets. One collapse could lead to another and there we have it, the next financial crisis.
This time many governments will not be able to save the failing businesses or banks due to their massive depths which are partly a consequence of previous bailouts, government bonds and quantitative easing.
It is just a logical result after years of quantitative easing (money printing) in combination with creating record high depths that we have never seen before, especially in the US but also many other countries.
Do also some research on the Great Depression and you will find striking similarities to where we are now. Artificially low interest rates for years, inflated stock market and a recently started trade
Financial institutions are aware of these risk and look for alternative asset classes in case the stock market collapses and we head into a bear market and financial collapse.Therefore they are pressuring the SEC to approve an ETF.
At the same time we are nearing the bottom at this point (around 200 Billion Marketcap) and slowly certain Institutions will go long again which will relief the price pressure, also supported by "real liquidity" flowing into the market, increased volumes as more retailers will accept alternative payments. Soon you will be able to buy your Starbucks coffee with Bitcoin.
There are also many other data points that indicate we will soon see another bull run, we already explained that it is likely that it will be possible to buy ETFs (Exchange Traded Funds) and this would mean a real flow of liquidity into the markets. There were previous filings but the SEC rejected those in the past.
They will not be able to continue to say no for much longer. Pressure from all directions, especially leading financial organisations.
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I see this as a life changing opportunity, not only for me but for millions on this planet who want to go a different route than work-eat-sleep-repeat. If you do not need a lambo but have a regular living standard and know some insights you can make a good living already with just a bit of savings...and in the future this will become even more easy and accessable for everyone.
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ICO projects running out of funds and had to liquidate some of their Ethereum. This seems to be consensus in the community. So basically nothing is wrong this Ethereum, this is just a temporary oversupply and best time to buy it cheap.
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I like NEO, but so far it seems NEO is mainly adopted by chinese projects. Outside of china and maybe Korea, I still see mainly projects on Ethereum, despite the faster trnasactions of NEO and it is also easier to develop as you can use Java Script...so why do so many project still rely on Ethereum instead?
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I prefer Ethereum.
Ethereum prices are cheaper than Bitcoin.
But the technological capabilities of Ethereum are quite good.
Currently, there are also many Ethereum-based platforms that make it easier for Ethereum users to make transactions and Ethereum transaction costs are quite cheap.
I also think that price is less important, actually higher prices bring more stability and protect your wealth better. Especially in downturns like we see now. Overall Ethereum has much more capability while Bitcoin is just a currency. |
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This is good, but I think this is aimed at the campaign, I'm not sure there are effects that will affect market turnover. do you agree that politics in America will bring about changes in crypto development? Wow, this is big. Someone who is a real progressive. Never heard about that candidate though. For sure a reason to support that candidate, if you are happy with his policy ideas. But it would be a change for America towards digitisation and the end of fiat. |
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