What I like to focus on is the news and the situation on the market. If the dip is caused by something irrational like the fear of a virus that has a very low mortality rate I know it's time to buy not sell.

The other thing I like to look at is the time. Say I want to buy Bitcoin and it's in a bear market. If the bear market has continued for more than 6 months already and the price is at a 6 month low it usually is a good time to buy.

Are you saying it's a shame not to pay taxes? I haven't heard that one before

They are rich and have enough money to pay and even after paying they are going to have 10 times more than most people since the average American family has almost no savings just loans but does it mean we should accpt the government is stealing from them?

Many of you say it's all fine because they have money. What if it were you? The tax man will first take from the rich and then from the poor, he doesn't care.

So what? You have to pay to learn something, am I wrong? You pay for school, you pay to get a drivers license, you pay for your mistakes.

The only way to really learn trading is to pay just a little. Take 1% of your mnoney and start trading withot leverage and you'll learn much more than you would by reading comments and forum posts.

Nobody is saying you have to make emotional decisions or go all in.

OP please don't confuse merits with encouragement for newbies.

I see merits more like rewards for saying something others did not know or for making an interesting point in a discussion. They are not encouragements in the way that we see a newbie and react like this guy is new ahd has no merit I'll give him some so that next time he makes a better post.

Historically Summer was good for Bitcoin. It used to remain on the same level or gain value.
In 2017 the biggest drops were early on in January and the bull market started to gain speed in Summer and cintinued until the end of the year.
Then we had a bearish 2018 and in 2019 there were big gains in May and June. May and June 2020 also were good if you look at the big picture.

It's stil uncharted territory for Bitcoin so it's hard to say if we are high or low at this 10 thosand. 

When the market is undecided it usually comes down to the news.

Criminal groups are still very small if you compare them to normal users of Bitcoin.

OP is asking questions about their morality and life choices but should we really care what life choices some thieve makes? Should we feel bad when he gets caught or his Bitcoin holdings lose value when he's out of jail?

His situation is dire anyway because if Bitcoin goes to 100 thousand USD per coin in the next 10 years he still won't be able to spend the money because the authorities will be watching him when he leaves prison. If he buys a new car or a house they'll confiscate it because there's no way a released prisoner can earn money so fast. They'll know it was bought with stolen money.

It has been mentioned in the thread that moving coins would not be a proof of someone being Satoshi. It would only prove that this person has access to Satoshi's coins. It wouldn't be the first time that a wallet has changed hands.

If you saw your father's car driving down the street you'd assume it's him, but it could very well be his brother or one of his friends.

The real Satoshi disappeared for a reason. He's either dead or hiding and won't come out for fame like CSW.

There's a lot of similar cases in the crypto world.

BCH used to be named BCC but there was already a coin with that name (bitconnect), so they switched to BCH and BCC, which was a scam, disappeared.
There's an exchange named Bitbay and a coin with the same name that was created later. The exchange and the coin have no connection.

We could make a whole thread dedicated to those cases.

I've read today that some new guy trademarked the Bitcoin logo

That was the old PayPal CEO. He's no longer with the company and they hired a Bitcoin enthusiast in his place.

This shows how with new technologies the old must go for the new to be accepted. Old farts don't like changes.

https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

It's called geocaching and you can try doing it for fun. Image if nobody finds your coins and the price explodes. You'll have more and more people treasure hunding for that cache when they find out how much its worth.

I remember there were some promotional events where people were hiding coins all over their towns to make whole crowds of people look for them.

If the recent news about PayPal become true then there's a chance we'll see 15 thosand this year. It's really difficult to predict anything because Bitcoin has its own way where the price reacts to some news and ignores the other and all that people do is try to explain the price action after it happens.

An example of it are crosses on the charts. When Bitcoin reacts to it every single analyst says it's because there was a cross on 1h 4h 1d, and so on. But sometimes it completely ignores crosses.

There are some analysts who predict that if 10 thousand gets broken once again the price will not stay there but overshoot by more than OP is predictiong. It could be 12-15 thousnad this time.

It's very possible that this move will be followed by a sharp correction, just like OP is predicting but a small move right above 10 thousand would break the long term bearish resistance that stopped Bitcoin at 10500 in March, 10000 in April and again 9900 in June. Closing a day above 10000 today could start a FOMO rally.

It already is doing it. Many stores in my area have stickers on doors and on the counters saying that they urge clients to use cashless transactions.

I think it's stupid because store employees use masks and gloves so it doesn't really matter if you pay with cash or a card. If you're sick you're going to touch things around you anyway like shopping carts, bags, car handles.

I don't see Bitcoin becoming more popular now when countries are lifting restrictions.

There's no point in hodling usdt. It doesn't appreciate in value. It's like an electronic version of the dollar but much more unpredictable.

If Dollar goes up usdt will go up in value but if it goes down it will also go down. The scary truth settles in when you realize that usdt is a private centralized coin and if it goes down, disappears, goes bankrupt, your money will be lost but real dollar will remain unaffected.


My advice for OP: get rid of usdt. If you want to cash out get fiat, don't hold usdt!
If you want to invest buy some coins, but again don't hold usdt.

This is not always a sign of FOMO. Sometimes stocks are popular due to something going on, like Tesla was because it was launching a new model.
You buing without proper analysis is not a sign of market fomo, but your own.
This would mean that Bitcoin is in a constant state of FOMO
Again not market FOMO but your own.

Bitcoin was looking good after the first Covid dip because it recovered much better than stocks. There were even opinions that it's going to be like gold and rise when stocks are falling.

The second dip is looking much worse with Bitcoin and S&P 500 looking almost the same.

It's still better to hold Bitcoin than stocks though because it dips and recovers faster but I'll admit that I was expecting a slightly better performance.

Great explanation OP, but how does it relate to cryptocurrencies. We're talking about a market that is overwhelmed by the number of bots and wash trading. My opinion is that TA in cryptocurrencies is very limited and works out well in identifying bull amd bear markets but not in short-term moves.

Using your language we're in need of those dynamic traders. Bitcoin trading in a 9000 channel looks like it has no real depth just bots buying and selling the same coins over and over.

Technical analysis is useless with shitcoins. TA predicting future by observing past market action. New shitcoins don't have past action or have so little of it that you cannot do anything with that data.

What you have to do is check their site see if people involved are clean or maybe they used to run ponzis in the past. You can also look at fundamentals. What that coin is supposed to do. Is it unique or another clone of an existing coin.

I'd classify them this way:

Hardware wallets (if you can afford them)
Core wallet (if you can spare the HDD space)
Electrum (if none of the above)

And this is sadly a real regret when compared to the ones people who bought low but did not sell high have.

Really guys  not selling at 20 thousand when you bought for 5 shouldn't be a regret for you. You still made money and will make more if you continue to hold it. Those who lost their coins in scams and exchange hacks are the ones that I really feel for.