Many expect the price to fall further below $ 3k. Bull run i would welcome (for the market it would be positive), but i do not think it will come so soon.
That's great for the market. The more people think like that and wait with buying, the harder they will fomo in when they start to realize that the price won't be going below $3000 at all. Investors especially the institutionalized one are going to come into cryptocurrencies market this year and because of that some of them have started buying bitcoin privately and if we start to see them buying bitcoin in public then we should expect bitcoin to rise in pricing.
Institutions have been in the game for years, so don't expect them to pump the price for you. They entered silently, and they'll do it again without anyone noticing. By the time we're going through another bull run hype they'll announce their platforms and products to make it seem like institutions are entering, but in reality it's just people and crypto funds fomo'ing causing the price to increase. |
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I think Tone is right and we are still not bottomed but we are near capitulation. The sub $1000 prices will be the obligatory group of people that are too pessimistic and are always around on every bear market and they get it wrong.
Capitulation doesn't have to play out in the way people think it has to play out. The more convinced most people are for something to happen, the more convinced I am that it will not happen. It doesn't mean we won't be seeing lower lows, but the probability for a counter move becomes more likely. We saw that before we broke $6000 as well. Only a few expected $6000 to break, while the majority was speculating about higher prices, and lower we went. The great thing about bear markets is that people have no choice but to become a hodler, and by the time they notice that the price starts to climb back up again, they are more inclined to keep hodling because there is no point in selling. |
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That makes absolutely no sense. Think about it. If a whale has a ton of coins, they want the price to go higher, not lower.
For example, let's say you are a whale with 100,000 BTC, currently worth about $350 million. Would you drive the value of your coins down by 20%, or $70 million, just so you can save $7 million when you buy another 10000 coins? Lose $70 million, but save $7 million -- sounds like a great plan.
People don't understand that there is more in this market than whales trying to manipulate the price to buy lower. I am sure that whales have done enough to support the price at certain levels to maintain their portfolio value, but it just wasn't enough with how severe the selling pressure was. Imagine if they didn't provide that buy support, we might have tanked way harder than what most people can imagine right now. A lot of selling pressure came from ICO's, and what people seem to ignore, Bitcoin miners themselves. They have to sell more coins in advance in order to make sure that they have enough liquid funds to be able to pay their bills in the forthcoming months. |
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Lots of support at $3500 which has yet to be tested so the range is still around 3600 - 3700 at the moment. No one knows which way it will break, could be here for a while
The support around the $3500 level dates back from 2017, so yeah, bots jump in to scoop up some coins whenever they get the opportunity to do so. It wouldn't surprise me if we end up replicating what happened in 2015 after the sub $200 bottom was in. It took like 10-11 months to break the $300 level, and it annoyed the crap out of people with how 'boring' the market was for them. These are very good times to average into the market over a longer period of time without having to worry about the price go up much. Anyone with +$10,000 priced coins should do the same as it will help to significantly decrease break-even points. Much better than waiting like a frustrated zombie for the price to reach $10,000 again. It's just a matter of logical thinking. |
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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.
I think that it isn't a matter of Bakkt not being able to get their platform approved, but more so that they are toying around with everyone by coming up with launch dates that don't make any sense. You can't say that you will launch this or next month when the possibility is there that the CFTC might need like 6 more months to properly look into it to make a decision. Bakkt makes people have false hopes, so it's better to blame them rather than the CFTC. The only thing they do by throwing around with launch dates is hope that the CFTC approves them before that, which clearly isn't happening. |
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They are asking for users verification paying $25, so, they shouldn't call it a giveaway. If they want to give money to their users, then ok, make a giveaway, but if they want to pay for their users' verification, then don't call it a giveaway because that's only a bait and not a true giveaway.
It's how marketing works, everywhere. Free money doesn't exist, people should understand that by now. The main point is that most people using blockchain or any other service, are not using it to ever spend money. What's the best way to increase the odds of having them become a potential paid customer? Right, offer them a giveaway in form of whatever crypto currency, and in return for that people 'only' have to verify themselves. By verifying yourself you basically take away a massive obstacle that stands between you and the exchange. Now you can participate in future giveaways, and more importantly, buy coins instantly and use other services that involve fees, which is what they want you to do the most because that allows them to make money. Business are here to make money, blockchain too. |
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I have been a bit too hard on technical analysis in the last months I guess. In the end, it all comes down to having it work in your favor to increase the probability of a trade to be profitable. In general, if you apply technical analysis the way it should be applied, especially during a calmer market, you are more likely to have more winning than losing trades.
Gut instinct is gambling. You can be right in the short term, feel like you have become an expert, but you'll likely get rekt in the long run and lose it all.
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You don't understand, Draper didn't actually participate in either ico. What happened was he got involved way early before either ico was held, and then when the actual icos were being held his name was plastered all over them for his belief and involvement in them. My bet is he was given a shit ton of free coins before either ico was held in exchange for his endorsement. That's the worst case, the best case is he got coins for a small fraction of what actual ico buyers paid. In both cases, neither pumped, they both raised outrageous amounts and have just bled down - in Tezos case ico participants were lied to and didn't get any tokens for a whole fucking year after the ico was held, instead of the Fall 2017 expectation.
Do some fucking research on these, Draper comes out stinking like a fucking swindler in both situations. He took no risks, used his reputation for his great call in 2015 for a 2017 $10k price to get people to buy these shitcoins and he shouldn't be given a free pass - his reputation and credibility are damaged to anyone watching. I wouldn't listen to a GD thing he ever said again, and I'm sure I'm not alone.
Did anyone force people to invest in these ICO's? Nope. It's up to you to do basic level research, and to not invest in anything just because whatever well known entity owns a large chunk of it. I value what Draper does for Bitcoin, and that's a whole lot more than what most of the so called Bitcoin maximalists have contributed to Bitcoin combined. He wants Bitcoin to do well, invests money into startups aiming to build on top of it, and that's something I value a lot. Whatever he ends up doing with shitcoins or ICO's is not my problem because that's not something I am interested in. |
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Bitcoin's decentralisation makes it extremely volatile, and this reflects within these short term price swings. It will get better in the future as more adopters enter the market, though.
Not sure what decentralization has to do with this, because the coins are being held on centralized exchanges and from there dumped to tank the price. Volatility is the direct result of illiquid orderbooks, which has been a problem for years, and I don't see it change unless legacy players run spot exchanges and from there attract traders who do trust them with potentially hundreds of millions. Coinbase as most regulated exchange has difficulties attracting capital, so imagine how that is for the exchange below Coinbase. It's clear what needs to happen in order to have Bitcoin become a more liquid market. More legacy players, Bakkt could be a decent start. |
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Draper endorsed two of the biggest ico flops of 2017, Bancor and Tezos. Anyone buying either because they trusted Draper's opinion and involvement most likely ended in terrible losses, so for that he lost a shit ton of credibility afaic. Now he says $250k by 2021, so if it doesn't happen he's in the same boat as Tom Lee and Mcafee as people not to listen to in my eyes.
Tim Draper is a venture capitalist, so it's safe to assume that he pumped money into way more ICO's. If people bought into these ICO's just because Tim Draper has invested in them, they have only themselves to blame for in case they lost money. I like Draper too, a lot actually, but that doesn't mean I have to follow everything he does or invests in. It doesn't matter who you are, there is nothing in the world that you can do or say to tempt me to invest in ICO's, even when there admittedly is potential for insane profits. I prefer to stick to Bitcoin, sound money. Nothing can offer me that. And in case Tim Draper isn't right with his $250k prediction, which I honestly don't see happen this soon, then it's still fine. |
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At least the government of Thailand see's the potential of getting huge taxes out of crypto and who knows, the kingdom will develop as another crypto hub in Asia. It's a democratic country so it's easy from the outside to see them really friendly to their population.
I'm not sure if the term crypto hub holds any sort of importance. If we have to believe news outlets, every country with a relatively open mind is marked as crypto hub. Japan has an advantage for sure, and they seem to be working towards a self regulatory body system within crypto, which is great for Japan, but no one outside Japan cares about it. It's not that Japan as 'crypto hub' has done much to boost further growth. If we look at their volumes, they are pretty insignificant, and the largest exchange by volume Binance left Japan (motives for that move aside) which means there is even less liquidity over there. The US is the only country investors (regardless of where they are) focus on. If we talk about crypto hubs, then the US is definitely it. |
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Anybody who keeps their bitcoin’s on a computer where they download files is awking for trouble. Sure it’s ok to use it for browsing etc but you are seriously asking for trouble if you even think about downloading torrents.
There is no cure for idiocy.
People somehow blindly assume that when they use a desktop client, they can't be hacked anymore, because hey, using Bitcoin Core as the most secure client (or pretty much any other reputable desktop client) will make sure their funds are safe. It's like folks in Africa believing that if they expose themselves to certain substances, that they can't be shot or stabbed anymore. It's so retarded, that you can't even think of a way to help them other than having them get rekt/hurt first. The deeper we dig into mainstream adoption, the worse the people entering crypto become, and we have seen that in 2017/2018 already. This is why banks and payment services such as PayPal will always have a dominant position in the world economy. People can't take care of their own finances. They need a central party to do it for them, and that can reverse transactions in case of malicious activity. |
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But painting your QR on a wall can be risky in the long run, some thieves can just replace it with their own address very quickly. So, if anyone plans to donate, verify that the scanned address indeed belongs to the artist.
It's an IQ test. If you can't do basic level verification, you have to learn it the hard way, which mostly means that you have to lose a buck or two. On top of that, those who donate are very likely anti state Bitcoiners that know how things work, because it's very unlikely that random Timmies will donate any amount to something that works on their nerves. Average joes are not keen with everything that's happening over there, so they won't throw around with pocket change to "support" something they don't support. |
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At the end of 2017 there was a price increase. Then until that moment there was a gradual decline. So again there will be a rise soon! Am I wrong? It seems to me that everything is very simple, you just need to follow the laws of the market.
It looks simple afterwards, but it's a completely different story right now. Suddenly all the so called experts have nothing left to hold on to, and they figured out that it's better to lay low for a while, because saying nothing is better than saying something that with a high probability is wrong. In 2017 things were different, everything positive you said about the market with a high probability became reality. You could buy ANY coin without paying attention to fundamentals or how shitty it is, and do extremely well. Seriously, it was harder to lose money than to make money. Crazy time it was.  The only ones back then complaining about the fees were no coiners, because that gave them something to trash talk Bitcoin and point out how it can't be a currency. Most people here didn't give a damn because they gladly paid the fees, because their rewards greatly exceeded that what they 'lost' in fees. |
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I hope this is not a fatal blow. Lot's of coins in maintenance for far too long indeed.
It may sound harsh, and I obviously don't want anyone to lose money, but this being a fatal blow to that exchange means it can no longer harm new users. It was only a matter of time before they either would shut down and take a run with people's money, have the crap be hacked out of them, or that regulators would shut them down by force. Having to worry about one of these aspects is already a reason to not use them, having to worry about three of them is just asking for problems. It's one of the shittiest exchanges in the space. What do people seriously expect? |
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Haven't you heard of fractional reserve ? it's where banks lend money that they dont actually have then charge you with huge interest. That's why bank runs are currently happening right now. Soon your proud fiat system will crumble.
People unfortunately are subjected to the same nonsense here in the crypto world. I'm certain that if people withdraw every satoshi from their exchange, that the exchange just can't have them all be processed. Now people have their fiat locked in the banking system, and their crypto locked in unregulated exchanges that could choose to disappear tomorrow. People have a lot to learn when it comes to respecting how precious Bitcoin is when it comes to taking care of your own finances. Eventually, when everything around these people starts to implode, they will finally realize the importance of Bitcoin. They say that you're never too late, but I'm not sure if that applies here.  |
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Also, these numbers seem to have been pulled somewhere in thin air.
Must be. Crypto is one of the hardest asset classes to value, so it all comes down to personal bias in the end. If you have a strong dislike towards certain coins, you will automatically value them much lower. In my case that means BCash's 'fair' value is between shouldn't exist and a buck. Obviously, that also means that coins you like will be granted a much higher 'fair' valuation. In the end, the latest market rates are what people want to pay for them, so that's the only form of 'fair' value crypto can have. If people don't want to pay $3700 for Bitcoin anymore, it will drop to levels they are comfortable buying in again, and that applies to every crypto currency. Money speaks for itself, thoughts about crypto being worth more doesn't. |
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don't worry mate it will never go below 3k stage. And this pattern? for me in my view probably this is just a correction which temporary and soon for sure it will be fine. Just accumulate instead of worrying mate and relax because indeed 2019 is just starting and i have doubt there's a big wave will emerge soon.
Just like how the price according to people couldn't go below the $6000 level, surprise surprise. I don't expect Bitcoin to break $3000 but don't discard the possibility of it to happen either, because there is nothing that prevents large holders from randomly tanking the price which will very likely trigger loads of stops. People who assume that certain price levels will hold don't have any respect for the market at all, because traders and investors who respect markets are fearful, even in times there is nothing to fear. I still expect sideways movement for a couple of more months between $3000-$4000 and from there hopefully a positive breakout. |
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Tom Lee should go be an Uber driver, he killed his reputation with idiotic predictions. If bitcoin doesn't cross 6 figures in a couple years, Mcafee and Draper will join him as crypto analyst clowns.
Tim Draper puts his money where his mouth is, plus he is actively contributing to make Bitcoin become more widely known and accepted. His latest investment in OpenNode is a great example of that, where it will utilize Bitcoin's Lightning Network and compete with shitty services as BitPay. That's why I find it funny that Tone Vays wants him out before the market can finally bottom, lol. Idiot. Tom Lee and McAfee are nothing more than fools, that I can agree with. Both have done nothing for this space other than providing nonsense analysis in case of Tom Lee, and in case of McAfee it's promoting scam ICO's that people lost a lot of money with. The funny thing with Tom Lee is that his legacy market analysis was fairly decent up to a certain point, but it became shit the moment the stock market started correcting. |
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I have seen allot of traders being millionaire so I am also hoping to improve my status and good trading tip is to be patient and hold to trade for long time.
Where and who? It's very unlikely to see a lot of traders become millionaire over here, and those who actually are a millionaire, won't just openly talk about it on the internet because they have a lot to lose. Don't believe the fools on social media with tons of followers saying that they are a millionaire or even billionaire. Richard Heart fits in that category as well. This dude claims to be a billionaire, while no one has ever heard of him before crypto, there is nothing on the internet hinting that he is very wealthy, etc. He almost cried in one of his videos because being a Bitcoin maximalist made him lose out on 'tons' of altcoin gains. Now he is hardcore shilling his soon to be launched shitcoin called BitcoinHex, which will run on Ethereum. Says enough. |
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