I'm not a fan of the wave theory, but it sure looks plausible and logical. There's a number of market theories right now and one of them states that we're going to be in a constant bull market with corrections within the bull trend from now on. If you look at the charts and zoom out back to 2017 you'll see that every single bubble (or FOMO ) market ended with a top and a very steep 50% drop. In 2017 it all played out in a month. We needed about a week to correct 50% and another 2 weeks to reach -75%. This time 3 months in and we are barely touching 45% correction. For me this is a sign of strength in the market. Note that charts can be very misleading. Even if we were to form a lower low here it's not over because this is driven by external conditions (the stock market). A bounce back on stocks will drive bitcoin up no matter at what level it will be. Check out the chart below. S&P500 had a lower low in 2008/9 and recovered. This whole part between 95 and 09 looks very much like bitcoin from mid 2020 until now.  |
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Else, the talks about this possible fight will die and there would be no interest that will come from any venues of social medias.
It's okay if the attention will eventually die for this match because the reality is that there's no match for Logan and Mike that will happen. They need to act and find the suited way to promote and to make this fight happen.
It's from the team of Mike that had verified that there's no match for these two that will happen. That's as per report from the links that have been posted on this thread, the latest posts. At the same time latest articles from this week say that it will take place in February. Did someone get cold feet? Mike's at the age when you never know how you'll feel tomorrow. When you go to bed you don't know if you'll wake up. The guy is a legend, but when you're pushing 60 everything weakens starting from reflexes and ending with bone structure. He could really damage himself with this fight. |
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There are bull and bear markets within a single big bull trend. To see it you just need to zoom out a bit  Somebody did the math for that and the average yearly profit from holding Bitcoin over the last 12 years was close to 100%. This means that if you held the USD you got -2% a year, If you held the Lira -10% and that stupid little bearish bitcoin was averaging at +100%. My way of checking what's up with BTC is comparing the yearly lows. https://twitter.com/DocumentingBTC/status/1412516711040000002/photo/1 |
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It appears that it's possible to mine cryptocurrency using Tesla's built in graphics card and it can be efficient, but you still need free power and a tesla. This means that you need to spend $5k on solar panels and buy the car, that isn't cheap and all you'll get from it is ~10 bucks a day. Sohmers, who says he was the first to crack into the Model 3 in 2018, tells CNBC that profits that high just aren’t possible.
“The best estimate I would have for the hashrate for the GPU in the Model 3 would be around 7-10 MH/s. Currently, at 10 MH/s, that would generate revenue of about $13.38 worth of ether, before any expenses,” Sohmers told CNBC. Also, hacking into tesla's OS voids warranty, so there's that... Might be a god idea if you already own the car and solar panels and get sick/break a leg and can't drive for a while. If the car just sits there and collects dust it can at least do some mining. |
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Thanks Ultegra134. We were getting signs of sideways accumulation period at 40k, but the recent stock market drop pushed us over the edge. I don't think we can call it a crash yet, but it's bad for some co0mpanies like Netflix that lost over 20%. If you look at US stocks, they had their highs last year, just like Bitcoin. The demand will continue to rise the lower we get. For instance, the rich keep buying. Just take a look at what this address is doing. It kept adding to its balance every time Bitcoin had a drop, since November. It bought at 50, 40 and now 30k. https://btc.com/btc/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQThere was also a huge (1 billion) USDt transfer to binance today. We can divide BTC price action into fueled by internal and external factors. Internal ones are usually problematic for the long run, like the Gox bankruptcy. External problems may look bad at first but are really a great entry points even for the short-term investor. A good example of such external problems was the US lockdown crash of 2020. |
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Will we never fall below 29k? This is too optimistic and presumptuous. Of course, we can dive much deeper than this mark. For a cryptocurrency, a 50-60% drop is generally a miserable amount. In cryptocurrencies, even stablecoins sometimes fell by 50%. Stablecoins!!! And you want bitcoin, a highly volatile asset, to keep its value above 29k all the time. He has a great potential to drop to at least 20k - 15k. It's such a volatile market that any derivatives exchange could break it if they start a cascade of liquidations. In March 2020, Bitcoin couldlose 99% of its value in one day. And if Bitmex hadn’t forcibly turned off the exchange, you would have easily seen the price of $0. Read the post-mortem of these events, you will be surprised how fragile the bitcoin market has become due to the development of derivatives markets. Therefore, saving 29k is very optimistic. By the way, in 2021 there was a failure on Binance Futures. Price just fell to the range of 10,000 - 13,000. Another indirect sign. As for the theory of the cyclical nature of the bitcoin market. No one was able to oppose anything to the graphics that I posted at the top of this thread. Just continuous subjective rejection of obvious information. Now, if the annual candle of 2022 closes in green, then it will be possible to argue that this cyclic formation does not work and you should not rely on it at all. Until that happens and the market (for now) draws a red annual candle, this formation works whether you like it or not. I don't think that 20k is impossible, just that IMO we have 50/50 chance of holding 30k, or going lower towards 20, but IMO 15 is improbable for many reasons like moving averages, bitcoin history of always holding the last ATH when it's been breached for the second time, round numbers like 20k being key targets for most people, crowd mentality and so on. That 13k you're pointing at was a pandemic flash crash when USA announced total lockdown. It was something we call a black swan event, pretty much comparable to a big terrorist attack, beginning of an armed conflict and so on. I don't think we can simply bleed for a year until we finally reach 13k again. Since Bitcoin is not really backed by anything other than trust of the people, then I have always lived with the idea that the absolute bottom for Bitcoin is somewhere near 1$. In the current situation I do not find it likely at all that it would reach that, but I would also be very cautious about relying too much on historic data about Bitcoin performance. It can be a useful indicator for sure, but it gives us no hard rules about the current bottom.
you have point. But even though it's not backed by anything else probably those people who always can get benefits in it will not let bitcoin to go back from the starting point especially big holders because it's a big loss for them as well. Just imagine if bitcoin suddenly fell from $1 seems the end of journey.. But i believe the real principle still useful and will always the real key to make bitcoin shine no matter what, wherein there's no way it will not keep holding every support level as long as there are still some people believing that bitcoin still a worth it than any cryptocurrency in the market. Please... Google how many times in the last 10 years people said that it's over and the next stop is $1, 0, or some other low number. Global mining is worth billions of USD, we have more investments in the space than we've had at 10 or 15k per coin. We have more users, more hash power, more companies involved. If we couldn't reach $1 in 2014 when Mt. Gox collapsed, we will not see it now. In fact, a $100k bitcoin is much more probable than a $1k bitcoin. I find it to be funny that this time last year people were celebrating 30k USD and today everybody is sad because we're only at 30k. Curb your expectations! Buy now and don't look at the price until 2023 and you'll thank me for it. It's always darkest right before the dawn.For all of you, who are scared now, here's a thread from last year, when people were saying the same thing, that it's all over, it's bear market, we will keep falling for years, and 3 months later BTC was at a new high. https://bitcointalk.org/index.php?topic=5331595.new#new |
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A heard the same thing on the news a few hours ago about Russia and some traders were saying the bitcoin price has gone below 40K because of this negative news, since I'm not from Russia I cannot say anything or confirm this news but still all we know is bitcoin cannot be suspended by any government due to the decentralization of the network after China banning bitcoin it was expecting to see Russia doing the same thing because they are more close together politically than the USA, however regardless of Russia government, I don't think if the effect of this negative news is going to be stay for longtime.
They have no idea why it went down so they look for any news to explain it. I don't believe the price crashed because of Russia, especially since the country has been known for its hostility towards bitcoin and attempts to create their own centralized cryptocurrency. They had pretty much similar attitude as China since like 2018 or 19. The stock market is crashing and it's dragging everything along with it. Oil prices have dropped, gold and silver went down, stocks and cryptos went down. We're not the only ones losing money on the global markets. |
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Things to consider:
1. 4 year cycle theory is IMO less plausible than the lengthening cycle theory.
If you're not familiar with this one it basically compares how many days it took Bitcoin to reach the top from the bottom of the bear market and in every cycle this number is higher.
2. Big bear market lows like those 70-80% usually happened after an overheated top, like in 2017 when we had 20x gains from the previous ATH. This time there was no such thing and you could see that in the fear index reaching values below 20 after a 25% correction.
Usually big gains mean deep, prolonged corrections, but the last bull run was pretty weak, which suggests a weak correction.
3. As market matures it's natural for the fomo rallies to become less common and less volatile and it's the same with corrections.
4. Most people overshoot with their predictions.You could see it in the last bear market when know traders and youtubers were expecting 1k and it all ended at 3k. It's the same every time and right now a lot of people expect 20k, which is why I believe we'll never get there.
IMO 29k will hold. The lowest I'd expect to see would be 20k, with a possible wick down to 19k with enough panic, but there's going to be such a wall of buys at that level that if we start going towards 20 it will get short squeezed to 25.
Long term I see 2 options. We hold 30k and go back up to 40 and if that breaks to a new ATH.
We'll lose 30 and go down towards 20 where the correction will end.
It will all play out in the next 3 months. I don't see a 2 year long bear market ahead, unless the stock market goes -50%.
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Wrong section mate.
Move this to Marketplace > Goods > Digital goods > Invites & Accounts
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Trading is gambling. There’s no doubt about it. You can already see he's biased and full of regret. Trading is not gambling, but it's not for idiots either. You can be a trader who trades with 10% of his money, waits for a big positive signal to buy and a trully negative signal to sell. Like when you buy after the price breaks the old ATH and don't trade with leverage, that's pretty smart. Holding long term and exiting with some money every time the price goes 2x is also smart. Going in with all your money on a trade with 20x leverage is the fastest way to a homeless shelter or a rehab and this guy is a living proof. |
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I don't find it boring because there's always some drama brewing, like it used to be with BCH and BSV. Now there's this ETH will flip Bitcoin narrative. If you have a lot of money invested and care enough to follow the price and read the headlines it's not boring, believe me. Gold is boring too, stocks can be boring if you invest in government stuff. It can bore me as long as it's profitable.
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Do not be worried. Most of this crash originated on 2 exchanges conveniently located in Singapore, so the Chinese were selling exactly on the day when El Salvador officially recognized bitcoin as currency. This was a move to scare people, not some coincidence. The crash was too fast and it's going to happen again because of low liquidity on exchanges.
Manipulation matters only if you allow yourself to be manipulated.
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A certain amount of value in fiat currency that you put into bitcoin does not change over time. You could put $1 in Bitcoin in 2012 and you can do it now and percentage wise your rewards are going to be the same. If bitcoin pumps by 100% you'll have $2 and if you did that in 2012 you'd also have $2. It's good to set yourself some goals like the one to reach 1BTC in savings but don't be discouraged by prices. Your profit is proportional to your investment, that's all there is to it.
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It's all about how much money you have and how much you want to have in future. People who live day by day and barely have enough to pay their bills will not think of alternative investments like btc. Those people will not think of investments at all, but when you're rich and see inflation eating up 5% of your wealth every year your perspective changes.
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There is no accidental plagiarism only ignorance. If you recite or get your information from another source please include the link. If you're paraphrasing and building your arguments based on some research you've done it's probably still better to include the source.
OP mentioned a situation with a wrong source/source link. I guess that can qualify as unintentional plagiarism. I don't believe someone who gave wrong sources for their quotes or did not quote all copied texts, only some of them, would be banned on this forum. Surprisingly, never got caught.
He never knows when it will come back to bite him. There was a case of a guy in my country who plagiarised his master thesis and it came out 20 year later when he became an MP. |
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99.99% of every altcoin is just a clone with a different name and supply. There is no point to most of them. In fact I'd go to offer and say most of the people who create them have already created hundreds of others, they profit and move on. That's the game. Ignore them and it won't bother you anymore
This is true that most altcoins are clones of some other coins, just like BCH, BTG, BSV and so many other coins were made to profit from bitcoin's popularity. That said, they create diversity. If you had only one coin to choose from you wouldn't know how good it really is. Thanks to shitcoins like BSV you can see how good BTC really is and how lucky you are to own a decentralized coin that isn't linked to some weird individual who goes to court every time someone calls him out in the Internet. |
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Op, would you like to get points for starting a discussion that other people continue, just because?
If people see a response in your thread that they like and merit it, should they also merit you?
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I used to trust banks but when they begun to steal from me with negative interest rates and growing card fees I changed my mind. Not to mention what happened in Cyprus.
At this point I hold 90% of my money in cryptocurrencies and I'm happy with the results of this decision. I chose to invest years ago and have not sold when we were at 3k, 6k, 10k... I don't mind price fluctuations that people are so scared of. Once you go through it you become immune.
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I strongly believe that cryptocurrencies give you the highest chances of becoming rich out of all investments. Nothing compares to it if you do the math. Stocks, bonds, commodities, real estate, currency trading... cryptocurrencies beat it all and will continue to do so for years. The problem is that the entry level is getting higher and higher. In 2015 you could enter the market with 1k usd and make a lot of money, in 2013 you could enter with no money at all and make a lot of money just by spending some time on the forum and claiming free giveaways and airdrops. Now you need a lot of work, a lot of money or both, but don't be discouraged, it's still an opportunity of a lifetime.
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I'll tell you what's going on. The stock market is down and it's dragging down cryptocurrencies due to investment funds dumping crypto to balance everything. They're down on stocks so they dump everything. That's how stocks are related to cryptocurrencies: most big funds have a portfolio in stocks, bonds and crypto. There's a threat of another covid lockdown and people anticipate a situation from 2020 when everything crashed. Personally I think it's not going to be as bad as in 2020, but we'll see. If there really is a crash it's going to be a great opportunity for those of you who missed the 2021 bull run.
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