My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???
It is not an analysis but it's a mere opinion of the banker. Why would you guys listen to someone who probably owns not any amount of bitcoin? Listen to the people who have been holding it for years and have made a decent life through bitcoin. Bitcoin is here to stay so whether it burst or not, in the long run it will stay at the top and will show results that they'll regret missing of not buying it. |
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I think this strategy is different for each person. The most common thing is that don't be frustrated easily. Profit or loss in trading can be anything. But if you get frustrated easily, you will make more and more mistakes. In many cases long waits may be required to make a profit. In these cases you have to be patient.
It is a mental state. But you can't just tell it to someone that don't be frustrated easily because we all have our emotions and it can trigger easily based from our thoughts. If you're losing the first time, that's tolerable but the 2nd, 3rd and so on. You will really become frustrated about it. |
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For me, on the contrary, trading is a good way to make money. At least now this option suits me perfectly.
It is. But does everyone make money from it? No. The fact is that there are more losers than winners in trading. That's why you get to see those that are turning into investors and have seen that it's way easier than the other. |
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Do you have fund right now in your account exchange? I think right now is good time for buying many altcoin kinds support to invest
Not every altcoin you see is a good coin to invest with your money. Maybe you can look at that few that really has the potential. But, I'll be careful if you're going to invest with a lot of them because not all of them are going to be profitable. That's based on experience. |
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Comparing it with another company like Facebook. Total's FB marketcap as per https://companiesmarketcap.com/facebook/marketcap/ it's $917B. While bitcoin, total's marketcap on its current price of $57199 is $1T. Bitcoin's growth in market cap can no longer be hidden and these companies are noticing its growth. |
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Is timeframe really that important?
You could use any timeframe that you want and whatever is effective and profitable to you, do and use it. Such strategies that works for you must be kept and stay with.
You only need to execute it and see what happens.
Maybe yes and 5 mins is the perfect time for me for scalping time. With that low time frame of trading, it is also important if we use an automated tool for trading so that there will help us when we was away from the computer. So its a perfect tool to have in day training and 5 mins are the time frame that I want. If that's your way of scalping and time frame then that's good for you. As I said, whatever timeframe you use and whichever is very effective to you. Then you have to decide on which of those are very effective to you so that you'll get used to it and you'll make a productive trading. |
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I think you're already doing good. Having that said that you've been doing averagely, I think it's just a matter of more experience that you need to have.
Just think of the profit is profit mentally and you're going to do good and won't feel regret that you've sold early or late.
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It might be that the cycle and pattern have changed but it might also be not.
The thing is, bitcoin is always changing in terms of its price and even we have different predictions into it, time will come that it will be at the peak price that we're speculating.
As of now, it's on $57k.
Yeah, and with bitcoin fairly young market, we can't really conclude with any data that we have right now. So still a hit or miss. Others said that the 4 year cycle might will still holds true, but there are proponents who see that there could be 2 super bullish cycle. So we will see what the future brings, if we hit 6 digits at the end of the year then good for us. I'm optimistic that we'll get to see bitcoin hit a 6 digit soon and it's all on the hope of many. After that, then we'll go for sure see those predictions that are all in for the 7 digit. Too much and too high but this is bitcoin that has been very volatile that gives that possibility. |
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It's true that traders' money is prone to being used in a sudden due to unstable market conditions making it difficult to lend, but in my opinion in some cases there needs to be an exception especially if the borrower is his own family or close relatives. It may be necessary to make an allowance for principal that is not used as trading capital so that there is idle money just in case during an emergency.
I agree about the situation. If that's all about his family and needs, then that money would be borrowed for sure if a trader is too close to his family. But there can also be those traders that still won't allow. |
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There are already a lot of countries that try to ban crypto but no one succeed, bitcoin still keeps on going stronger and stronger.
And that will be the same for China if they repeat it. Bitcoin will continue to thrive despite their massive ban on it and they're unlikely to stop until they take many bitcoins in the world. Just like the typical economists that are saying FUD to bitcoin for them to accumulate at a cheap price. |
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Is timeframe really that important?
You could use any timeframe that you want and whatever is effective and profitable to you, do and use it. Such strategies that works for you must be kept and stay with.
You only need to execute it and see what happens.
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It might be that the cycle and pattern have changed but it might also be not.
The thing is, bitcoin is always changing in terms of its price and even we have different predictions into it, time will come that it will be at the peak price that we're speculating.
As of now, it's on $57k.
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It's just the same when bitcoin is starting out. A few believer against the world.
And with them, they're the first to have it as a legal tender but many countries to have it legally so they're not alone on this battle but the struggle is real for being the first mover.
This is true! It is really hard to become the first specially talking about with adoption because we know that it is really close to impossible on adopting or making bitcoin as a main currency.On any angle you are trying to look at then it can really be hardly tell that this would be impossible but it turns out that El salvador did really take some risk. We cant say if its a good decision but for us people whom do support Bitcoin then this situation do really looks good and does signify that it isnt really impossible. Hope that they wont really be reverting out their decisions in near future soon. They could survive as long this market exist although volatility will really be your main issue on here. They've got plans yet there were citizens of them that have protested against their new law about bitcoin as a legal tender. It's understandable that they'll have such problems but I think that no one can stop them despite those problems and struggles that they're facing right now. And I hope that it will be the same to next country that will declare it too as a legal tender. |
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Although it's only an if situation because we know that it will never happen because there are other investment assets that will remain to be a high option for most investors. if it happened that all the money in the world went into the crypto market, in my personal opinion, this would be a problem for bitcoin, because there is no more freedom, what is certain is that if it did happen, it would definitely be controlled by the rich, and those who have power, so my movement as a middle class person will find it difficult to compete with people who have power, and have wealth, I think this is a bad idea..
This is actually happening everywhere right now. We're actually living to be with the whales and whatever they do to the market, we'll just be followers. |
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There will be no effect for now but I know as time goes on, the world government will have to scrap the idea of different currencies majorly the Fiat then the adoption of cryptocurrency in making payments and transactions will come in and there will be no need for the use of Fiat. The world system of Fiat as a form of money will soon end and I bet everyone to prepare for the new change of crypto system of money transactions.
It might end soon but we don't see that happening anytime near today. What would be the next payment? I doubt that they're ready to adopt bitcoin and other cryptos that they prefer. Many of them still can't the fact that this is money and investment that works perfectly for individuals that have been in here for a long time. |
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there is no chart that's exactly the same. The trends and patterns might be different which is why to succeed in trading one must have the skill set to make the market analysis from scratch and when required. Yes, there are similarities but also differences, and it is these differences that can sometimes be costly, so much so that when trading with large capital can be significant.
Not everyone can be an expert at putting together these trends and predictions but with enough practice, a good trader should be able to catch their wave.
I agree, they're all different because of the trends and they're changing most of the time. Understanding the market itself through these factors will give you the benefit and advantage towards the market. But it takes a lot of experience before you can have that almost accurate analysis. That experience is also something that needs to get refreshed as well, which is one of the hardest things people will have to do. You study hard to learn something, you get to a point where you feel like you can test it, then you start working on it a lot and then you become good at it and you feel like that's it. However that's not it, you do not just become good and stay good forever, even though you made so much money from being good, then you will start to be not as good, first it will not be obvious and then it will look like it is just a bad stretch but soon you will realize that you need to keep on working on your craft and keep on trying to get better. In order to do this, even while you are great and making bunch of profit, you will still need to read and learn and become even better, so that when things change, you wouldn't be left behind. Normally that we get to have some bad moments in the market. This will happen to anyone and by that time it happens to you, you have to realize that there's a lot to learn more so that you can understand the market. |
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The graph or chart itself is the one that you need to understand.
And, there is no chart that's exactly the same. The trends and patterns might be different which is why to succeed in trading one must have the skill set to make the market analysis from scratch and when required. Yes, there are similarities but also differences, and it is these differences that can sometimes be costly, so much so that when trading with large capital can be significant. Not everyone can be an expert at putting together these trends and predictions but with enough practice, a good trader should be able to catch their wave. I agree, they're all different because of the trends and they're changing most of the time. Understanding the market itself through these factors will give you the benefit and advantage towards the market. But it takes a lot of experience before you can have that almost accurate analysis. |
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Yes, that's what I've seen when I've said it's scattered on the web and can easily be searched.
I don't know the other offices that they have but for certain and known countries, I remember that they have some offices there but there's an office that they've closed, I forgot where it was.
Thank you very much for this information, I could not find their address. You're welcome. Everything is searchable through the web and all you need to do is go through every possible result that shows their address and other details that you're looking for. I wonder if there is at least one person from this forum who was physically in their office.
I don't think that there is. |
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And there is no alternative to price action trading to stop it managing your risk can be the most powerful tool that can ensure you remain neutral.
We tend to know how to manage risk. But there are moments that they can't really stop when they become emotional with their trades. And that becomes the reason for them to have their own short fall. By which it leads them to keep losing because they no longer can lose their emotion even if they know how to manage risk. |
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They will survive, it's not like they've done an all in with bitcoin that if it doesn't go where they want it to be, they're whole country will collapse and to be honest, I think that it's in our best interest that they're going to survive because if they become a success, more countries will follow and the prominence of bitcoin will rise much higher.
They'll surely survive. Whoever is the first mover does have the advantage and so El Salvador has all the advantages upon the declaration. It's odd for the other countries but we can't deny that they got balls, unlike the other countries. I can sense that El Salvador will definitely survive from its own battle. I know how they struggled so that everything will work out and with this bullish time, seems like this will pave the way for some citizens to value bitcoin more than fiat not just of its high price at the present but more on its countless benefits compared to fiat which is greatly affected with inflation. And the higher chances for this nation to come out successful, then this will encourage other countries too to start accepting bitcoin as a medium of exchange. It's just the same when bitcoin is starting out. A few believer against the world. And with them, they're the first to have it as a legal tender but many countries to have it legally so they're not alone on this battle but the struggle is real for being the first mover. |
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