that will never happen unless they are already getting pumped which doesn't happen every month! it is rare. all the other times, these altcoins will get dumped even harder when bitcoin price drops. and they even get dumped when bitcoin price rises.
the reason why it happens like this is not important if you are just looking for investment and making profit. you should just know that it happens. i have a couple of theories about why it happens, but the one that i like is the fact that altcoins are like penny stocks, nobody cares about them. they are only used as temporary toys to make more profit during bitcoin stable times. the rest of the times everyone comes back to trade bitcoin and leaves altcoins that is why they always drop hard like this.
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this market is more enthusiasm than logic when it comes to people. and these days it is even worse because unlike low prices, now a small percentage rise is a bigger amount. for example 10% rise when price was $200 meant $20 rise but now the same rise at $10,000 price means $1000 (same with drops) and people lose their mind over it just because the number is a big one apparently. but they forget that these rises and falls are the same rises and falls as before, the numbers are just big because bitcoin is now worth a lot more.
maybe we need to start reporting the price for a smaller amount like 1 mBTC or 1 satoshi even. that may remove this confusion.
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why are all these cryptocurrencies are going down?
because the altcoins are pump and dumps and they are standing on a broken edge, with a little wind they drop in the depth of the valley! and this little wind was the bitcoin price drop that we are currently experiencing. all the fluctuations that bitcoin has these days is attracting all the traders back to bitcoin market. obviously they dump their altcoins to get bitcoin to sell during the drop and then buy back after it ended to make a lot of profit using that dip. and money exiting altcoins means they get dumped hard like this. don't worry though, these alts that are getting dumped now, will soon get pumped if they reach the bottom successfully. some that don't drop much won't recover much either. but those that drop big time will recover big too.
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Futures would make the Bitcoin price much easier to manipulate. One major banking institution or other wealthy group could manipulate BTC users in pretty much any way that they want.
Since BTC has less of a clear value than most other stocks and assets, it means that investors could be manipulated to push the price as high (or as low) as they want.
However, I suppose that introduction to a more mainstream and regulated audience could be helpful, as it could theoretically free us from the emotionally unstable investors we have now.
i have heard people talk about this manipulation just because a futures market is being added but they never explain how. i mean we have had manipulations so far and lots of them. what will change now that these markets are opening up? my expectation is that in fact they will reduce the manipulation, mainly because that will make the market grow a lot bigger in the upcoming year as it gives good publicity to bitcoin. and when market is big, manipulating it is that much harder.
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This concerns all Bitcoiners. Your privacy is in danger
why should ALL bitcoiners even care what Coinbase is doing? Coinbase is a centralized service working with fiat and banks (obeying AML/KYC and US laws including tax laws coming from IRS), they can do whatever they want to do and they have been doing that. this news about IRS is not new. they have been doing it for years. need i remind you how they caught the owner of KickAssTorrents? and it certainly has nothing to do with ALL bitcoiners nor bitcoin nor it has anything to do with their privacy. if you don't like it, don't use Coinbase or any centralized service like that.
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it is because the number of bitcoins available is too small and finally will be limited to a cap and currently is being created on a slow rate. meanwhile the number of people who want to have some amount of bitcoin is increasing for many different reasons such as the media coverage, and the good performance of it this year. and with all the news about bitcoin going mainstream and Wall Street entering bitcoin these days, all the attention is to bitcoin.
apart from all of that, bitcoin is a decentralized currency. it is one of a kind. there are a lot of benefits in using it.
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every single altcoin out there is worth investing in but not always!
the key factor is timing in this market. and if you get that right you can become successful, otherwise you will jut lose money contentiously because you think they are "promising" when they really are pump and dumps. in case of bitcoin cash, you are late for its pump. now it is the dumping and then accumulating time. there is no reason for investing in it now. and there is also no indication of any upcoming pumps.
there are other coins with all these indications and some others with currently ongoing pumps. make profit from them then come to BCH when the time was right and the dumping ended.
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you are losing money because you are not trading altcoins you are buying and holding them! that doesn't make much sense to be honest. altcoins are known to drop specially when you buy them after their pumps, in other words when you buy into their bubbles like what you did back in May.
a word of advice: learn about stop loss. it can save your money a lot. and also more importantly try to invest only in those that have some real potential for rise not those that have already risen more than their potential. and then you have to remember to sell them to get the profit out before they start dropping.
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next? possibly a lot of media coverage (which has already started) then even more surge of new investors with fresh money in hand to in vest in bitcoin. this will lead to more rise, possibly a bubble forming up around $12,000 and then that bubble bursting and the correction starts. finally drop down to $10,000 again, it can be manipulated to even drop back to $9500ish for a couple of hours before jumping back up to $10,000+ again. this process can take the next two months.
next? hopefully better exchanges, more decentralized ones, more better centralized ones with regulations and less scam, more adoption among merchants, faster scaling solutions, less FUD, less big fluctuations, higher prices.
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Is now the time to sell up and move on?
sell and move on? i can understand why you talk about selling because of the price rise but what i don't get is what is the move on part about? move on to what? bitcoin is still the same decentralized cryoptocurrency that offers lots of things if you stop thinking only about the price for a moment! your article is also a short story of the same old thing calling bitcoin a bubble without any originality to the arguments.
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because there is nothing wrong with bitcoin and legalizing it. many countries have already done it and also adopted bitcoin. people want bitcoin and it is best to legalize it rather than making it illegal and have people still continue using it. besides adopting bitcoin helps with creating new jobs, helping the economy too.
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we are all curious about how things will be in the near future with bitcoin price!
what i am expecting is actually a lot of sells "before" the $10,000 mark. most people think price may fall after the 10K so they act faster and try to sell before it happens and get out, it delays the rise and after a while when they are out price goes above 10K and by that time there is no one left with this expectation to sell so price continues to rise. that means those who sold see their speculation was wrong and come back and cause the price to jump up about 5-10% more.
same thing happened with $1000. there were a lot of sells at $970-$980 with a lot of downtime then after $1000 was broken, for days price only went up until it reached the ATH of that time ($1150)!
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the way i see it is that ETH is a pumped altcoin not a useful one with real demand, and these altcoins like this can get pumped to unrealistic prices such as the current price or even the higher prices like $1000, but these never last. they keep it up artificially with fake ICO demands, high smart contract costs and burning lots of tokens to use it and reduce the supply somehow but in the end when the pumping runs out of steam the rise stops and the catastrophic drop starts. i say "catastrophic" because it will be a bubble burst and they are bad in altcoins when the panic sellers begin dumping their held tokens and ICO owners panic and dump their free raised ether too.
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no because "the rise of bitcoin" i not a new thing, the speed of the rise i not that new either. it has grown a lot this year but the rate at which price rises is similar to all the previous rallies. the amount is bigger though. and the whole market is not changed that much either. there is bitcoin, with its solid rise and all the FUD that is surrounding it, then there are altcoins which are the same old pump and dump schemes that many lost money in and some who know it make money from them. short or long doesn't matter either, as long as you can speculate about the market you can be successful in trades that you make otherwise whether price is $10 or $10,000 you will lose money.
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I thought it would take until the end of Dec to reach the five-figure mark but it looks like it will be up to the mark tomorrow itself.
it seems like the CME news did its work and now there is no stopping bitcoin rise. soon the market itself will also be active and there may even be more rises by then. Will the price decrease after 10k[/glow]? because many people are waiting to sell if the BTC reaches the 10k mark. OR Will it's price is going to be increased more after that!
well, we don't see the future so we can not tell you for sure. so far the rise seems powerful enough with a lot of demand. also when you check the news and reports you can see there is a lot of money coming in these days which means the rise is really strong. there will be some correction at some point and price will drop. by how much and when is not possible to say. maybe price goes to $11000 then drops to $10000 or maybe it goes to $10500 then drops to $9500 then up again and down again like most of these round number targets. Is it too risky for a middle-class person to buy 1BTC now because of the stakes!
there is no law in bitcoin or on exchanges to force "a middle-class person" to buy 1BTC, they can buy smaller amounts too!
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i can see some worries about bitcoin because it is a new thing and it is decentralized and is somewhat anonymous and because of that it is hard to trace or control unlike fiat. that much is understandable but to say things like this, about "corrupting kids" is just dumb. and of course the media is always exaggerating the reality a little and when it comes to bitcoin they make it even bigger and make it more dramatic.
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whale in what coin?
bitcoin? it is impossible to say! maybe 500BTC at least but the market is growing every day and the order books are no longer small enough to be easily manipulated with a small amount of money.
altcoins? there are altcoins that are small and you can be a whale in them with probably a small amount such as 0.1BTC. you can pump them with that much or dump and kill them if you sell that much worth of that coin! but there are other coins that are bigger and you will need much more amount of money to be able to put a dent in them.
besides, a whale is not just someone who has a lot of money. you also have to know the market direction in order to be able to manipulate it. going against the market will make you a small fish in no time, no matter how much money you have.
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there are mobile wallets that are currently supporting bitcoin gold, you can use them to import your private keys and spend the BTG in them. i have not done it myself but people are saying they did it easily with Coinomi wallet. https://medium.com/@coinomi/collecting-your-free-bitcoin-gold-btg-coins-da937d4255d1
you can also see the rest of the wallets here: https://bitcoingold.org/downloads/but i suggest not trusting anything coming out of Bitcoin Gold team meaning official wallet or the web wallets they list on their website. they have already released 2 scams (1 fake web wallet and 1 malware in their official wallet). they are not to be trusted.
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I want to buy some ether & waves coin.. Because the future of ether and waves is looking good....
Waves is newer and right now it is small with fewer pumps and also smaller bubble, maybe even no bubble. but ethereum is old, big and in a big bubble. i personally prefer investing in other coins which have the potential for bigger rise not the old ones with potential for either a small rise or a big dump. besides right now it is best not to buy any altcoin at all. they are all dropping again because bitcoin has started to rise. with $9000 resistance broken the altcoin panic dump will start and last for a while. if you want to invest then do it at the bottom.
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IT WAS AROUND $8,400 AT THE BEGINNING OF THE DAY THIS IS INSANE
welcome to bitcoin. this rise is a tiny rise because it is only a little less than 7% rise. if you take a look at bitcoin's price history you can see rises like this usually happen in matter of minutes not a day. these days we are very slow when it comes to rising, a part of it is because the number is big! and another part of it is because market has grown so big in the past year than it is much harder to move around, both up and down have more resistances.
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