ETH has dropped 10% within 24 hours, ETH is in real danger as it may turn bearish at this time. We can clearly see the bullish movement is slowly fading and this is also the lowest point. After a massive rally from the past two months now it's going to red zone, The eth ecosystem has to show some major improvement else I am sure bears will take control.
For me a single sell off is never an indication of the coin being bearish just like a single spike up is not an indication of it being bullish. Calm down. The trend is only reflecting the move Bitcoin did and Bitcoin is reflecting other markets. S&P500 took a hit 2 dfays before Bitcoin. |
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They can announce all they want. We all know that this virus was made in their own lab so instead of complaining how this is paralyzing their industry they should take responsibility for it and tell the world why they were researching a flu that has genes of sars within it and why their labs aren't secure enough to contain the pathogen.
The news is good. The world doesn't need another centralized crypto.
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Projects used to advertise through bounties but you should be aware that many projects don't really pay their people. They promise a huge amount of reward for the people to keep on advertising them.
Thus, many will join yet won't get paid. Bounty is just one of the means of advertising inside and outside the forum.
They allow themselves to do it because you, the hunters, just move on to another project instead of stepping up and makingthe scammers regret. When a project doesn't pay you should make scam accusation threads and make sure it gets reflected on the scammers profile (trust) and their ANN page. When people find that they're even scamming people who work for them they won't expect anything but an exit scam from the coin. |
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You should not only keep a record of your losses but also your wins! Don't look on it just from one side. You coud buy a bike with your lost money but what if you could buy 2 bikes with your wins?
You took a risk and blew your money but there are people who won and you can read their stories online. There will always be more losers in gambling not because casinos are rigged but because people don't know when to stop and don't know how to manage their money.
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I won't do it not only because I don't trust in my skills but also because in many casino games skills don't matter. It's more about luck.
How will your skills help you to win in slots or dice? You will win or you will lose it's all decided by the game itself.
If you play with your own money at least you won't have to ehplain things to other people. What if you borrow money and lose it? You'll feel so miserable kissing ass for another year while you're trying to earn it back working double shifts.
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Most big companies do it because it allows clients to stay longer and explore. People are explorers and they like to be entertained so the more you offer them the more they will do on your site.
Selling merchandise is buildin the brand. Somebody buys that cheap mug and takes it to work or offers tea to a visitor and you could have a new potential client. For the company it's money well spent, for you not so much.
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Sentiment too. The Fear & Greed index was getting greedy. Check out Bitmex open interest for the past 1.5 months too.
It needed to take a breather. The market likes to punish both bears and bulls, even if the prevailing trend is upwards.
You interpret this short term downtrend as a sign of a longer term bear market. That's where we disagree. I see it as nothing more than a short term correction to the December-February uptrend.
This is how I see it and that's why I like your interpretation. You can see this market mood even in the forum posts when people start to make topics about predictions of crazy analysts like Tom Lee and asking if we will break 20 thousand before the halving, which is a lottle more than 2 months from now. When there's too many leveraged long and too many newbies ready to buy at 10 thousand when a few months ago nobody wanted to buy at 5 you know that it will have to correct. OP sees Bitcoin scoring a lower high, I see a higher low because it will take a real worldwide epidemic for us to go below 6 thousand now and if we won't it's going to be another higher low following a pattern that started at 3100 USD. |
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I have a feeling that drop wasn't due to any virus. The stock market has been on a tear for years now and I'm surprised we haven't seen more of these 3-4% corrections--and hell, I remember when the S&P 500 was stuck below 1000 for the longest time. I'm sure a big event like a viral contagion can affect things, but I just don't think it's that in this case. Could be wrong, of course.
There was a website that showed the death toll from corona virus, but I forgot what it is. Is the number getting much bigger or what? In any event, I don't think it's anywhere near the death toll from 9/11, and that's a big event that actually did affect the stock market for quite a while.
Here's one of the maps, updated daily. https://www.nytimes.com/interactive/2020/world/coronavirus-maps.htmlI also don't think that it's the fault of the virus or the panic that follows. The panic is much greater than the risk because I'm in the EU where there are almost nocases of the virus and people are already storming pharmacies, concerts and other events are being postponed, in the news reporters are telling people to make sure they have some food and water stashed at home just in case. I know that this has nothing to do with Bitcoin and won't change my mind about investments but many people think that in case of an epidemic they won't be able to go to a bank or an ATM and may lose Internet acccess so they prefer to have cash. |
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versold doesn't mean anything. Bitcoin was in the oversold area multiple times in 2018 and ketp falling down.
I remember watching it decline and wondering if maybe this is the point where it bounces back and I did that at 6, 5, 4, and finally 3 thousand dollars.
What we can be sure of is that this decline has nothing to do with fundamentals, which is a positive thing. There's no big FUD circulating and it's not a reaction to a ban or an exchange hack. It's just traders fooling around. Nothing to worry about.
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1. How much BTC did you lose ever since you started using crypto? How did you lose it?
2. What was the biggest BTC loss you've ever had?
3. What do you regret the most ever since you started using cryptocurrencies? I haven't lost any BTC since I got my first coin. I've never bought alts with my coins, I only have altcoins that I got for free or for a bit of bounty work. The thing that I regret the most is not buying more BTC when I had the money. I was always cautious and tried to have some fiat and some crypto but going all in in 2016 would probably set me up for life. I don't regret holding altcoins because I treated it like a gambling bet. |
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Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all. Today I think BTC is a failed experiment. What are your thoughts?
I'd like you to find a single piece of evidence that would prove that coronavirus is responsible for a correction in BTC's uptrend. If you cannot do it why do you talk about it like it's a fact? Bitcoin is following the traditional markets. Look at S&P500 chart. It begun to decline 2 days before bTC. |
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???wonder do you guys still think that market is recovering
Of course. Bitcoin always moves in waves and as long as the lows are higher everything is good and we are still recovering from the 2018-19 bear market. The first rally was 3000 -13000 and we corrected to a higher low of 6500. As long as we're able to defend that level and start another move up it's a classic recovery pattern. Usually its not even that good for traditional assets. They sometimes go up and down in a chanel for many months. If stocks continue to crash for another month or two Bitcoin will probably follow but in such case we can expect a rally after the halving. |
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There are many experts telling everyone that the corona virus and its effect on the global market was the cause bitcoin's dump. I reckon that it might be also these whales who were pumping for an ETF approval that did it. The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
In a filing posted Wednesday, the securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin (BTC) market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for the ETF last summer with NYSE Arca.Read in full https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bidSure... The "experts" and their "deadly" virus that managed to kill 60 people outside China in a timespan of a month while many times more die of cancer and other things every day. Only smart people know and understand the reality of this virus. If you're already sick or senile and contract it you'll probably die but not because of the virus but because you cannot handle high fever and stress. Any other type of flu would have the same effect on you. Bitcoin crashes every 2-3 months and it doesn't need a stupid reason for it. |
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I'm not a very superstitious person bt i feel like every time Tom Lee makes one of his super bullish predictions Bitcoin really shows him the middle finger and goes down.
There are good analysts who predict big moves and are right 60% of the time and there are bad analysts who can never hit their targets but Tom is on another level. When he says 20k Bitcoin goes to 5. That's how accurate he is.
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6. Halving means btc is no longer profitable for many miners, difference this time, those miners can switch to BCH or BSV.
Two reasons, their lower hashrates means more profit from their already existing infrastructure.
Both have larger blocksizes, which means the miners can potentially earn more from transactions fees with BCH & BSV per block than BTC.
According to analysts , Miners have to increase transaction fees in BTC to a minimum of $21 per transaction to offset the loss of rewards,
due to it purposefully limited blocksize by bitcore devs.
Fees will be much less per transaction but more total fees possible in all altcoins including BCH, BSV,
due to their increased transactions capacity which the ASICS miners can also mine.
Your other points are pretty laughable but this one should get an award for the dumbest explanation of why BTC is not going to reach new highs  In short, for those who don't want to read the quoted part: He thinks that halving will make mining unprofitable and miners will mine faketoshi's scamcoin instead, just because of lower hashrate and bigger blocks. Blocks and difficulty means nothing if the coin is barely worth anything and you can't earn a lot from transaction fees if there are almost no transactions. I can see all miners switching to a centralized shitcoin owned in 70% by Calvin when the value of newly mined Bitcoins doubles... You'd have to be a moron to do it. |
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It's very hard for coins that dumped hard to recover and ZIL is scraping the bottom right now and is obviously not an oscilator (doesn't follow crypyto market pumps innitiated by BTC entering bull market).
In 2019 it was trading for 0.02 USD per coin and in January it was at 0.005 so it lost 75% while BTC was pumping from 6 to 10 thousand dollars. It was in fact worth more during the prolonged bear market in 2018 and 2019 than it is in 2020. It's a clear sign that there's not much interest in this coin.
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Before you start to go hungry OP, there's an important rule you need to be aware of: past performance does not guarantee future results. You can only try to project the past onto the future but there's not enough data here because Bitcoin is still very young.
You saw 2 bull cycles and you think there's going to be a third now? If it was 20 and now we were waiting for nr 21 then maybe. With a third there can as well be a big dump.
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You only need to find crypto trader manager with good reputation near you and use his skill to make money. Many people don't agree with your post but I believe people have their own way. They free to choose method that will bring bright future, any success person using your idea? the answer is yes. Make time to search the manager and I hope you find it and get better result than using your own skill.
Like this guy? https://www.youtube.com/channel/UCFvfB1RUooxOoXTE0Jk1FOw You want a manager, you got him To all the newbies out there: this is not a real manager, but a scammer. Don't send him money. |
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i've done it several times. but the problem is i have to connect internet from a general wifi of the office. that makes me feel uncomfortable. i don't know everybody in the office and it looked kinda risky for me.
Why would that be risky? Unless your boss or your officemates are hacking through your PC or phone. To be honest, I am doing that at work but I am not always trading. I trade when it is my partner's shift but when it is my time, I just check the movement or the price changes that are happening. I think that is not risky since there are a lot of applications that you can use for that. You probably don't know how easy it is to intercept packets that go through wifi. Read about packet sniffers. Also you never know what people have been doing on computers at work. There can be some spyware installed and you don't want some random coworker to know your password. |
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OP should really read the statistics. Most coronavirus victims and probably all who died in Italy were old and sick people who already had health problems.
This virus is very much like a normal flu and you should know that flu is not being treated by antibiotics or anything like that. When you get the common flu you are usually sick for a week and have high fever and muscle pains. All you have to do is drink a lot of water, lie in bed and keep the fever low by taking ibuprofen or other common painkillers.
7 people died from coronavirus. Car accidents claim over 3000 lives per year in Italy. Should we dump our BTC because of that?
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