You knuckleheads still don't get that the supply gets lower and lower as we speak.
Lower just like people interest in bitcoin. You knucklehead are not reading what we are telling you. Although supply is important it is not the ultimate factor. Besides there is going to be a limit on how much a bitcoin can be worth. People saying bitcoin 1 million dollars are delusional. |
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OP, I'm not a believer in technical analysis by any means, but don't most people who actually call market bottoms do it after a market has started to recover from the bottom? A lot of folks called the bottom of the stock market back in 2009, but it was only after the Dow had fallen below 7000 IIRC. I don't think at this point any of us have enough info to be calling a bottom in two months.
Having said that, if it did come in September I'd be very cool with that--but there's a world of difference between hoping something happens and actually thinking or even claiming that it's going to. And hey, if you truly believe we're going to bottom out in 9/2018, then put your money where your mouth is and load up on bitcoin...once it starts dropping again, because it kind of looks like it's already started to rebound. Could be a dead-cat bounce, though.
Anyone who claims to know when and what a bottom is going to be is a fool. Technical analysis is not meant to guess exactly the price and date of a stock. You can only make educated predictions based on percentages and it's never going to be: Bitcoin 7345.32$ in 23 days and 4 hours. The best way to know if it's a bottom is to indeed wait for it to form and then look for confirmation, for example a double bottom like we had followed by good bullish volume and candlesticks. |
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These days it is just a battle back and forth with bulls and bears trying to determine short term market direction which is giving us some pretty good wicks at tops and bottoms of candles and makes it just a bit too choppy for our trading style. We should wait until a more clear direction shapes up.
''G20 Calls for Crypto Regulation Recommendations By July'' This month is probably going to be heavily affected by the new regulations. So far it looks ok short term because of the double bottom and good follow through but I'm fairly sure the g20 regulations will be a key factor and ultimately determine the trend for the rest of the year. |
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That's cool but it doesn't matter. Any other coin with less supply should be worth more then using your argument. Bitcoin still needs to have value somehow, otherwise it doesn't matter even if the supply is only 1 million. Who is going to buy if everyone thinks bitcoin is worthless? |
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Last year, when bitcoin sat at $20k, there were many specialists emerged and stated that Btc will reach $50k, 100k and even $1mil, lol. To date, after more than 6 months diving into bearish market, btc still haven't been easily confirmed whether it has bottomed out or not, but its market price is very low. So, specialists emerge again and announce stupid words. Omo
''specialists'' There is no technical analysis or fundamental analysis capable of giving you an exact value on an exact date on any market. The so called specialists that like to make extremely accurate predictions are stupid. You can't predict the market to that degree. You can make educated guesses like now for example, bitcoin is bullish after a double bottom and we are most likely going to break 6800 and 7000 in the next week. Most likely means something like 70% to 30% Saying bitcoin will break 7000 for sure in 2 days is stupid. |
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Purely based on technical analysis bitcoin is bullish right now, even if it's only short term. The recent double bottom and follow through of the bulls confirms this. If we can break 6800 and 7000 in the next leg up, bulls can be really confident that we are in fact entering a bullish uptrend again. Time will tell.
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There still needs to be demand.
Exactly, this ''argument'' is absolutely wrong. ''The number of unretrievable lost bitcoin is growing every second and the trend is never going to stop.'' That has always been the case and yet we had 2-3 years of bear market not long ago. DASH has less supply than bitcoin and yet it's not worth more. Any bad news, like making bitcoin illegal somewhere or tough regulations will prolong this bear market for years easily. Demand. Here it helps to see it as a relative rather than absolute factor. For example, I utterly dislike facebook. But it couldn't drop 99% of its value because even I myself would buy the heck out of it once it's dropped 98%, i.e. I would become the demand in that case.. Well if something drops 98% you would be a fool to buy that. In this case I don't think demand is relative since bitcoin does not have any application whatsoever, it's not like gold where you can use it to create stuff. Industrial use of gold is minimal and is a highly irrelevant determinant for its price. Ok give me 1 other factor a part from demand then. Bitcoin works purely on demand, it's not a currency, it will never be, people call it the digital gold because that's what it is. I don't see any other factor influencing bitcoin other than demand. It's not like you can do anything with it. |
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There still needs to be demand.
Exactly, this ''argument'' is absolutely wrong. ''The number of unretrievable lost bitcoin is growing every second and the trend is never going to stop.'' That has always been the case and yet we had 2-3 years of bear market not long ago. DASH has less supply than bitcoin and yet it's not worth more. Any bad news, like making bitcoin illegal somewhere or tough regulations will prolong this bear market for years easily. Demand. Here it helps to see it as a relative rather than absolute factor. For example, I utterly dislike facebook. But it couldn't drop 99% of its value because even I myself would buy the heck out of it once it's dropped 98%, i.e. I would become the demand in that case.. Well if something drops 98% you would be a fool to buy that. In this case I don't think demand is relative since bitcoin does not have any application whatsoever, it's not like gold where you can use it to create stuff. |
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There still needs to be demand.
Exactly, this ''argument'' is absolutely wrong. ''The number of unretrievable lost bitcoin is growing every second and the trend is never going to stop.'' That has always been the case and yet we had 2-3 years of bear market not long ago. DASH has less supply than bitcoin and yet it's not worth more. Any bad news, like making bitcoin illegal somewhere or tough regulations will prolong this bear market for years easily. |
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Short term: Bullish.
First of all, we had a double bottom on the daily chart, which is a bullish pattern. We also broke the lower high on the daily charts which is also a bullish signal. So far in the short term it seems like we are going to see a small bullish run. We are probably going to see a higher low now at around 6.2-6.3k and then hopefully break the last higher high of the daily chart. If not we could enter an equilibrium pattern with lower highs and higher lows.
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As a natural deal in the market, sellers always want to sell high and buyers always want to buy low. But the reverse seem the case with those sellers who dump their Crypto coin or tokens for some very low and ridiculous price. Thus that's not a natural market deal. What really is the reason why people dump? Have they got enough crypto gains that they need no profits no more?
''very low and ridiculous price'' How do you calculate or determine what's a low price? Is 6k low? It's low compared to 20k but it's high compared to 1k. Your post makes no sense and you clearly don't understand the basics of trading or investing. If someone bought at 5.5k and sells at 6.9k does it mean he sold low? It might be low for you because you bought at 10k but it's a lot for him. Why would anyone hold forever? You realize that at some point you will have to sell. Unless you truly believe bitcoin itself will become a real currency which doesn't seem like it's going to be the case. |
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Tether has already been proved as a scam, if it crashes, the entire price of bitcoin is going to go down like rollercoaster, so i think that buying tether is not the wiser thing to do
I don't think the huge volume of daily trades in USDT across exchanges agree with your scam accusation and the price of Tether is pegged to $1 and not Bitcoin. How is the entire price of Bitcoin going to go down like rollercoaster should Tether crash? They recently released some sort of proof that they actually are a 1:1 to USD. It was still a sketchy proof but better than nothing. ''Tether Finally Conducts Third-Party Audit, But Not by an Audit Firm'' https://www.financemagnates.com/cryptocurrency/news/tether-finally-conducts-third-party-audit-not-audit-firm/ |
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No, I think the price is driven by idiots most of the times. News can heavily impact this market because most people are beginners at this. People that have a lot of money and invested in bitcoin aren't usually trading, look at the winklevoss brothers, they are not trading, they just hold, they don't give a fuck about the fluctuations. People on the other hand do.
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ethereum is too broken to be able to overtake anything in this market. its market capitalization is huge because it is fake. it has more than 70 million coins in premine which is contributing to about $35 billion of fake market cap and then there is the fact that ETH is currently pumped and is in a bubble. if the bubble bursts we should see another $40 of its market cap vanish and it go back down to $5 billion market cap. if then you remove the fake premine supply you will have a $3 billion market cap coin which is the real value of ETH at less than $100
Fake? Pre mine is fake to you? Ethereum conducted an ICO and the devs got money thanks to the pre-mine, it doesn't mean it's fake. Plenty of coins have pre-mine. Bubble? What bubble, the market already crashed, are you living in 2017? The real value of ETH should be much higher simply because so many tokens depend on it. I agree with you that the real value of ethereum should be higher as 80 to 90% of the token on the market uses ethereum Blockchain. But as per OP topic I think ethereum will not overtake Bitcoin. Bitcoin have total supply of 21 million out of with 17.2 million have Been in circulation and still 3.8 million of Bitcoin still to be mined. Looking at it based on supply only is meaningless. What matters to me is the real value of the token/coin. Honestly bitcoin itself doesn't have much intrinsic value right now, you can use it as a store of value but it's extremely volatile. |
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Are you just copying articles and posting them here? You have to make at least a comment of your own, otherwise you are breaking the forum rules.
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ethereum is too broken to be able to overtake anything in this market. its market capitalization is huge because it is fake. it has more than 70 million coins in premine which is contributing to about $35 billion of fake market cap and then there is the fact that ETH is currently pumped and is in a bubble. if the bubble bursts we should see another $40 of its market cap vanish and it go back down to $5 billion market cap. if then you remove the fake premine supply you will have a $3 billion market cap coin which is the real value of ETH at less than $100
Fake? Pre mine is fake to you? Ethereum conducted an ICO and the devs got money thanks to the pre-mine, it doesn't mean it's fake. Plenty of coins have pre-mine. Bubble? What bubble, the market already crashed, are you living in 2017? The real value of ETH should be much higher simply because so many tokens depend on it. |
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I really don't think they straight up plagiarised the paper, and also plagiarism is only illegal if the source file is copyright, which is probably unlikely otherwise I doubt TRON would have done so. All cryptos are just amalgamations of other crypto concepts or coins, the first innovation was Bitcoin, the second was Ethereum, everything since is a copycat with spinning rims.
I cite my source again ... draw your own conclusions: They did not copy the whole paper, but some key concepts were taken out of the IPFS whitepaper. That would not be a problem if they made that clear, i.e. cited IPFS as a source. And as IPFS is an open source, free software project, they can use the code like they want while respecting the license. But for whatever reason - maybe simply negligence, but it would be worse if they intended to pretend they invented key IPFS concepts - they omitted to cite the IPFS paper as their source. In most countries, all texts with some originality are copyrighted. If you cite larger sections of an original paper, you must refer to the source, otherwise it's plagiarism and illegal. In contrast, Ethereum's whitepaper mentions Satoshi's Bitcoin paper several times and cites it correctly, like it's standard in the academic world. But it seems that they copied different things from several other projects not just one: https://bcfocus.com/altcoin/tron-trx-developers-plagiarised-code-from-other-crypto-projects-researchers-allege/16077/''They apparently plagiarised code from Ethereum among the other projects and then changed filenames. It was done so that identifying the source of the code becomes difficult'' That seems pretty shady to me. |
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At the end of the day no one is going to get rid of emotions entirely. Its mostly about controlling them. Best way is to have a strategy and follow it.
Exactly, no matter how professional you work as a trader, there will be always those times when you will lose hope because the market price is dumping very hard and the only thing you can do is to hold your coins to avoid losing more of your investments. Well, not that, if you are a trader you wouldn't be holding coins when the market is dumping because you would always have stop losses to prevent that. It's mostly about not following your strategy and forcing trades. |
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That is because some lines in the tron project's whitepaper were copied from Ethereum network's whitepaper, so the realization of this fact is that tron should not have copied the whitepaper, although i do not think tron is a scam but vitalik's perspective was based on the plagiarism in tron's whitepaper.
Not only the whitepaper, other things have been found to be copy pasted too. Now, obviously that doesn't make it a scam directly but it's definitely some shady behavior. At least laziness. Their excuse was also pretty bad, personally I just don't see why anyone would invest in Tron at this point, risk:reward ratio is not there. |
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Ethereum is in a way more important than bitcoin. So many tokens depend on it and also ethereum has all the token pairs too. It definitely has the potential to overthrone bitcoin. In fact before the huge crash ethereum was approaching bitcoins marketcap.
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