We may or may have not yet reached the bottom but i'm just going to leave my coins and check next year 😅
That's the best option. At some point you have to understand that it's too late to act, even when there might still be some downward potential. It's not that long ago where people said to buy as many coins as possible if the price happened to fall below the $5000 level, and here we are, these people are nowhere to be seen right now. They are probably amongst those who are considering to sell at current levels rather than to stack up on Bitcoin. I loaded up above $5000, above $4000 and just above $3500 because it's an opportunity. I don't care if the price goes lower. I'll happily buy more.
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People do not realize how big of a gamble it is to do margin trading when you are not very well versed in trading and have high experience doing regular trading.
People are filled with greed. Crypto itself is crazy volatile by nature, and it still isn't enough for people. I used to occasionally invest in stocks before Bitcoin, and if I did well, I ended with 10-20% at the end of the year, which if you ask people what they think about these gains, they'll laugh right in your face. That's it? I make that in a week! That's the sort of reaction you'll be getting from them. However, they lack the knowledge and the fact that your money gets cashed out very quickly if you bet the wrong direction and leverage it too high like x100.
I frequently come across complaints from noobs claiming that they have been hacked or that the exchange stole their funds because their balance is gone. They are too stupid to realize what the features they use actually mean. They only see 0.1BTC x 50 = 5BTC = huge profit. I wouldn't recommend anyone at this point to go short on any crypto currency. It's too late already. Just sit it out and do nothing.
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I have been reading that thanks to Bakkt will be possible to pay for for example Starbucks with btc without all that fee It is why Bakkt is so important giving crypto chances for adoption
That's wrong. You won't be able to use Bitcoin in any Startbucks shop. The deal here is that you'll be able to sell Bitcoin to USD through Bakkt, and then use these funds to buy a coffee or whatever else that Starbucks sells. As always, it were the shitty news outlets trying to convince people they could finally spend their coins in Starbucks. In order to stimulate adoption we need stores actually allowing customers to pay with Bitcoin, even if they use a payment gateway. If you are converting your coins to fiat to spend them, what's the point of Bitcoin then? In that regard, you can just as easily keep using your debit card to conduct these transactions.
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The hype is over. I think people don't understand that yet. Everything that happened last year wasn't normal, especially not what happened with all the ICO's. I was shocked every $1000 we increased last year, because Bitcoin itself didn't reflect being worth that much, neither did altcoins.
Even if Bitcoin's own selling pressure is no longer an issue, the selling pressure coming from the altcoin market still is. Altcoins lack liquidity, so what happens is that altcoins get converted to BTC and then dumped for USD. It lowers Bitcoin's price even further, and thus altcoin prices as well since everything here is tied to BTC.
Considering that certain altcoins are still pretty expensive, we might be due for more dumps, but that's my personal view.
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I don't think that bitcoin has ever been a bubble.
Bitcoin itself isn't a bubble, its market has been turned into a bubble more than once due to people's greedy nature. People only pay attention to the price, and think Bitcoin is doing good or bad based on the movements of the price. They think that Bitcoin at $20,000 was doing better than it is doing now at $4000, but it's actually vice versa in this case, mainly because of Segwit and how services became more aware of how to properly utilize block space. Just look at the fees, they remained low throughout this whole month despite the dumps and fear going through the market. Bitcoin of last year during the bull run couldn't even say hello without stuttering. Me being generous with fees is $0.10 this year. Last year me being generous was $5-$20 lol. This is progress. Better value for money. Invest. Don't dump.
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Bitcoin's on-chain value activity in the last 24 hours is $6.8 billion or 1.75 million BTC. It's crazy if you think about it, because most of this very likely consists of massive OTC trades, and this has been going on for quite a while now. While people here worry if Bitcoin is able to survive or not, smart money is filling up its pockets silently.
Institutions have for once not been the first to enter an upcoming asset class, and they are definitely out to make up for that. What's easier to get rid of shaky hands by exploiting their stupidity? If you don't know what you hold, you will sell it in an instant when things seemingly turn ugly.
Another advantage is that new money is way more likely to enter at current levels. Fresh capital is what we needed, and we get exactly that.
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What makes it a "2.0" futures contract? Are there any details about the contract specs? I don't see anything in the article indicating how it would differ from offerings already on the market. It sounds like VanEck is just trying to stir up hype, especially since all they can say about the ETF is "soon."
According to CNBC, Gurbacs said the forthcoming product was “a regulated crypto 2.0 futures-type contract,” which brings about “new standards for custody and surveillance.” Those comments were made in a panel discussion at the annual Consensus conference in New York.
https://hacked.com/vaneck-confirms-nasdaq-will-launch-bitcoin-futures-2-0-next-year/It's basically a futures product that's physically backed by Bitcoin, which as it is right now, hasn't been done before, so in that sense, it could be seen as a 2.0 futures contract. Bakkt doesn't yet have an approval, so we'll see which of these entities end up having the first mover advantage. I initially thought these futures would be granted an easy approval, but now I think about it, these are physically backed, and just like the SEC, the CFTC might not like that idea.
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It's either traders are trading now as never before or something else is going on the market I can't understand. I just looked at CoinMarketCap's page for BTC and I couldn't believe my eyes: If I remember it correctly, the trading volume is almost always below 1 million BTC, and I don't think I've ever seen anything above 1.3 million. Am I missing something or are we at the ATH regarding daily trading volume? Trading volumes are definitely higher than in the last couple of months, but that shouldn't come as a surprise with how the market has been shaken up after breaking through yearly support of $5700/$5800. I do however have to note that CMC's trading volumes are pretty inflated and don't represent that what's actually happening. Asian exchanges are experienced volume cheaters to have their brand rank up on CMC, all to attract newbies looking for a high volume exchange. It's basically their way of taking care of marketing. If you want to focus on volumes that matter, and are less likely subject to wash trading, focus on exchanges as Coinbase Pro, Bitstamp, Kraken, Coinsbank, etc. True USD exchanges.
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He won't shows up. But I think we need an improvments on Bitcoin network.
Bitcoin has already been improved, and is still being improved as we speak; the next release of the Core client will bring even more features to the table allowing Bitcoin's throughput to increase. Also don't forget the ongoing development of LN that no one here seems to care about. If you only focus on price action, you'll keep missing out on developments. We and BTC need a help.
Who is we? You? Bitcoin doesn't need help. People need it, mainly to understand that developments take time, and that Bitcoin isn't a centralized platform you can scale endlessly on-chain.
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On one hand, it's more clear now the potential bitcoin has and it's closer to achieving that so there's less risk, but the upside is lesser because of the already higher price. Alternatively previously the potential profit was much higher but the risk was more. I'm not sure which was a more attractive investment proposition.
If we look at most of the newbies here, then they don't really mind the risk considering that they have been going nuts on shitcoins to find the next Bitcoin or Ethereum. If you also add that most people by now have figured out that pretty much every altcoin goes up more than Bitcoin does percentage wise, it's an easy choice for them. In the end, it takes time for people to appreciate why crypto has value in the first place, which is why bear markets are great. Instead of focusing on gains, they can now read into Bitcoin for example, engage in discussions here, etc. Almost every person here started as get rich quick noob, people often tend to forget that.
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It's quite interesting how despite the huge "bust" there hasn't been one single recent statement from the Bulgarian government regarding these coins, and what their plans are. I honestly wouldn't be surprised if this turns out to be a hoax, mainly because of how easily you can follow everything that happens online, and literally nothing indicates that these coins even exist. In the worst case, if it's true, and the coins are sold or kept (hope they are sold), then it's likely distributed amongst corrupt state officials. If it was put to good use, or to reduce their national debt, they would have proudly shared that with the world.
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Wow,lots of hatred about bitcoin and the crypto world.
Good news it is. Not that long ago people were still convinced the price would hit $20,000 before the end of the year, and now they are bears. The more trash talk, the more fear, the more Bitcoin's doesn't work hurr durr, the more bullish hodlers become about the short term. Tom Lee & Co are an absolute plague to this ecosystem with their retarded way of thinking and predictions. Corrections are wake up calls for the stupid to understand that chasing easy money results in losses. Looking at how valuable altcoins still are, we may have some room to the downside to shake out the most persistent bagholders. Let it drop.
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honestly, I prefer that bitcoin be accepted in the world as a means of payments, I would be very happy if one day I could go to the market and buy things that I like using bitcoin as a means of payments, this is the growth that I consider.
Ditto. I can't wait to see Bitcoin become a user friendly way of conducting payments, especially when LN is ready to serve the mass. Added benefit of LN is that we no longer depend on the mainchain, which miners usually tend to mess up, either because of their hashrate movements slowing down block times, or them on purposely utilizing less block space for whatever shitty reason. It's going to take years, perhaps even a decade or so, but we'll be there eventually. All we need is more liquidity and a relatively stable price.
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I'm certain DB will get away with it after firing those who supposedly were involved, and of course the multi million fine that comes with it.
It's what banks always do and have prepared themselves for. These cases are collateral damage and nothing else. The fines they happily pay for crossing the line is nothing in comparison to what they have made before, and will continue to make in the forthcoming years. It pays off to conduct illegal activities, and there isn't much that you can do against, and I'm certain that the authorities don't even mind it. It's another paycheck for them after all.
Bitcoin isn't a tool to eliminate every trail of corruption and criminality.
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I'm not saying everyone can buy the bottom and sell the top, but nobody in their right mind should be settling for 10x in a Bitcoin bubble. There's no way we're topping out at $30-40K on the next run, not if history is any indication!
People here are mostly keyboard hodlers. As soon as the price has gone up like 50% from where they bought you can bet your socks that they will cash out. Let people fomo in on peak levels and appreciate the view on top for a while, because there isn't much to see once the mountain crumbles to the ground. Only true hodlers manage to hodl through pumps and dumps, because they care less about fiat. Fiat is only useful when it comes to selling peaks and buying back lower. It serves no other purpose in this market, or at least, not for me.
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The decline of more than 30% without a convincing reason prompts you to feel a kind of manipulation, especially with the influence of the nonsense "BCH, BCH ABC, SV", and other attempts to affect the prices as a whole.
I don't believe it for a second that these clowns were related to the sharp fall, but I don't mind people thinking they were. If you look at how much hate is going towards Roger and Craig right now, it's very amusing. They basically made sure their shitcoin became worth even less + people really hate them now. You got to love how they shot themselves in the foot. People's shock mainly came from seeing the $5800 level get broken through. It could have been manipulation in an attempt to trigger stop loss orders that were stacked below that level, or it was a whale legit looking to dump thousands of coins at once without thinking about the consequences. Both options are plausible.
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I doubt that there is an increase in demand for BTC futures product. An increase from a dozen persons isn't significant lol. Perhaps for institutions but for the average Joe, I don't think there is an interest at all. Well, I can be wrong of course, but so, they will all want to create their BTC future. Regulation isn't what people are looking, they want to invest in Bitcoin mainly because they don't really know how to.
It all comes down to competition. In the next couple of years we'll see more legacy players try to claim their cut of the pie, and yes, it's largely focused to serve wealthy entities rather than the average joes sitting at home. In terms of the demand for these futures, I think it's pretty decent if you compare it to actual top tier USD Bitcoin exchanges; CME $133 million 24h volume. Coinsbank $100 million 24h volume. Coinbase Pro $91 million 24 volume. Bitstamp $68 million 24h volume. Kraken $50 million 24h volume. Pretty impressive stats from CME if you ask me.
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When Lightning Network is out of beta alpha, then this could create another short-term exponential rush into BTC. Interesting times ahead!
LN = utility, not a short term price booster. In a space as driven by speculation as crypto, use picks up very slowly. I wish it was different, but we can't change the way most people here think. By the time LN actually starts affecting the price, people won't even notice it's LN's utility doing it. In their mind it's probably this or that shitty institution entering the space by offering empty products we don't even need. Most of the growth as always comes from idiots buying into the market because the price is going up, further inflating it to insane levels, then we're going back to levels that are easy to support and people consider healthy enough.
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Most of the exchanges nowadays have a hidden orderbook feature for market movers, which is what whales are usually hiding themselves behind. You'll only notice that buy/sell walls are there when traders are buying or selling into these orders, because of the volume generated around the levels these orders are placed at.
That's why you shouldn't pay much attention to an orderbook. It can be easily manipulated visibly, and in the way it's not visible for you with hidden orders.
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I'm not sure why so many people are complaining about it. I for one am happy that it's getting green and I hope it continues on this path. It may be dead cat bounce or not, we don't know but being optimistic helps.
People are realistic, that's a better term to use. If you look at how much the market has gone down in terms of percentages, current bounce up is nothing more than a tiny improvement of the sentiment. I would even like to say that the current bounce up is a textbook "recovery" before we are heading down again. Of course, I hope that I am wrong and we are actually working on a recovery, but it seems too easy at this stage. As we have seen in the last couple of weeks, what people thought would be bottoms are now levels we are far away from. I like the volumes though. There is plenty of activity going on which is what we want to see in crypto. Volume = interest.
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