Don't buy the dips yet because the Elon-ic drama is not over till now, he claimed that Tesla didn't sell btc which is more destructive as when btc could rally down so quickly even without Tesla selling it, imagine where will btc go when he will sell? Wait for more action and let btc retest and touch important support points. All altcoins will start dumping when anything unusual happens in the markets, then you will cry considering that why did you buy?
Agree, though many institutional investors have been hoarding btc during the dips but it's still not really safe and indeed the fact that elon himself disclose of tesla still not selling btc is such a huge red flag but some people based on their TA said that the price point around $42K-$41k gonna determine whether the bearish market gonna come and btc gonna get dumped hard again or instead it comes back to bullish market again. I personally still try to hoard btc as well regardless of all the possibilities and I guess many people do the same since many also sold their alts to move into btc. |
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Yeah, exactly. Individuals need to quit talking with him. He is playing with everyone, think about it. He has the power to manipulate the markets, since he adopted it as a business model and he abuses it. He could make significant changes with just one tweet. Be cautious with what you read and get emotional about.
The thing is, despite all what he has done people still follow him regardless but I doubt he will stop his act anytime soon, not until he make thousands percent of profit lol and actually I think many whales just following the flow by taking elon's tweet as a guide therefore why price could dump so fast. but regardless, many institutional investors still bullish about bitcoin regardless of what elon musk saying, meaning probably many have predicted that the price could climb up again though who knows right? |
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There is no proof that Elon Musk has sold his Bitcoin, so he is in the same sinking boat with us. I dont believe that Tesla suspended accepting Bitcoin due to mining influence on the climate. Perhaps that excuse was only for the public, and real problem are legal issues. His decision made Bitcoin lose 10% of its price; same amount it gamed after Bitcoin as a payment announcement. But he did not say anything yesterday, and we see a -$5k drop. Who is responsible for that?
Yeah, can't entirely blame it all to elon since the correction itself already expected since we hitting the new ATH but honestly he isn't as dumb as making his own asset gets dumped like that, I'm sure he has some method to somewhat gain something from his feud in twitter regarding energy consumption etc. I'm myself believe that elon holds big amount of doge and btc at the same time and maybe he has dumped some amount to the market and decide to spread fear like that. Not a biggie though, pretty sure the price gonna get back up in a few months. |
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the Relative Strength Index in the market was 99 at the time when we're still above $55K and it's just obvious that this dip is imminent but if we could bounce back then maybe there's another bull run
but yeah, people have been wondering where's the correction since ages ago now that it has come people are being panicked and influenced by fear meanwhile it's just healthy dip in my opinion
and probably could prepare us for a better price point in the future and I definitely gonna HODL hard.
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Only temprarily though, not to mention if you look at the chart from longer time frame it has more fluctuation than bitcoin meanwhile bitcoin is just doing sideways for the past few weeks and only now it got price dumping.
But then again, is there really such thing as stable decentralized crypto though? I definitely doubt if there's any and each crypto has their own time of being very volatile same thing with doge, this week it's stable next week it could move
so significantly.
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exactly, it's always funny when some people gonna find a way to take advantage's of elon musk's tweet to their benefit even if the tweet is the most obscure thing in this year.
though, even if right now btc is dumped if you see the chart from 2009 we're still far up and this kind of correction is to be expected, I remember when btc hits $60k people keep asking where's the correction and here it is.
though, i'm sure it's gonna go up again by then bitcoin market will be immune to elon's tweet.
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This is not humanitarianism. He is giving away useless tokens. It is money created out of thin air and given to him for free. It is performative charity and nice publicity for ethereum but it is an action that cost him nothing at all. I guess it's better than buying lambos and Rolex watches, which is what all the other shitcoin developers are doing with their pre-mined wealth.
You guess? Even if he didn't cash out, he literally owned that money. Way to undermine the effort. I feel sorry for those Shiba holders or investors, it might this coin now dumped and Vitalik is their big whale.
IMO, feel bad with the people who went into Shiba investment to gain profits and then realizing just after their glorious celebration, one of their biggest coin investor has been sold to be donated in India. Like seriously? How on earth did Vitalik decide to do it?
Let’s just say that Vitalik was able to help a lot of people in need, but I don’t think it has to be investors and the people who stayed in the cryptocurrency who has to suffer and get punished for it. This might be the main reason why Shiba went to the floor and this is really hurting their heart. Well, this is how it is so I think we just had to handle it and I hope the money will put it into good use and that's a great help to them.
They would have suffered eventually. "Investors" knew the risks and it would have crashed eventually as it didn't have any serious use case or reason to exist. Shiba Inu didn't bring anything new to the table and everyone knew this. Maybe people will learn from this but i doubt it. Saying is: "Your keys, your money" and everyone who bought in, bought in knew that Vitalik owned more then 50 trillion tokens. Somehow they thought that Vitalik would endorse a token that has zero innovation and makes this whole space look scammy. Agree, not to mention that the devs intentionally sending the token to vitalik's address meanwhile we all know that vitalik's address is relatively active, why don't the developer just send it to burn address if they truly want to burn the 50% of total supply? doesn't make sense at all, now that vitalik dumping it every one crying so hard, meanwhile if they are true investor they should know the consequence of someone owning 50% of total supply, ridiculous. |
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Mark Zuckerberg can't fool us with a name, he knows too well that there is something more to to naming of his goat bitcoin than meets the eye.
It could be a secret message telling the world bitcoin is the G.O.A.T and people should jump on it while isn't not out of there reach or his saying his endorsed crypto which is the future of money.
He's probably just doing what elon usually does, you know testing the water on how much influence he has over crypto and it seems most of people just missed the news or just doesn't care. I know there's hidden message of that image but it's not really relevant to crypto though, if mark zuckerberg want to get involved with crypto he might as well implement crypto into his company or atleast using crypto to diversify his portfolio, otherwise he doesn't put much effort. |
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I always hear people talking about NFTs on platforms like twitter,facebook etc but the funny thing is are they that popular here on the forum...am afraid not.
And for someone like me that spends much time here it gives you the community am likely to be found in, short answer NFTs are just not for me.
NFT mostly talked in telegram as far as I know and not to mention NFT platform usually have their own channel of discussion so in here maybe it's not being talked a lot though at the time when the first NFT was released it's such a hot topic here but considering the amount of transaction made from many NFT platform each day i can say it's still a thing, NFT not only limited to art but games as well and the games are being played a lot by people. |
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the question is, why should the government destroy the stable coin?
if the government wants it then the government only needs to make a ban regarding the use of cryptocurrency in its country, that's over. without needing to destroy anything, it doesn't seem classy anyways. The decentralized network is seen as a threat because the government cannot fully control and supervise, while for those who aspire to freedom, decentralization is a solution.
Stablecoin could potentially become a threat for government's CBDC and there's some countries out there which has rather controlling government and that kind of countries have the potential of banning stablecoins simply because they can. But, I doubt any country gonna ban stablecoin in the long run, after all these stablecoin legally established and there's private company behind it who gets taxed by the government each year off their profit. Maybe if government want to escalate into banning all crypto except the government's then it could happen. |
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I don't really think this time around the bearish gonna be like 2017 though but it is definitely possible, as to the question, I don't think the bullrun is also over either. Take it simply, many company still trying to make an entry to crypto, every week there's a brand new news coming out regarding some company making an investment not to mention the defis that's so used it burdens ETH's network as well, that also could affect bitcoin market. if any it's probably down -25% of current ATH in my opinion. Given the state of all that is going on, is it a feasible idea to think that we may see a sub 45k price point for bitcoin?
Depends on many factor, sub 45K definitely possible but the market is solid enough to make people buy around the dip, some people definitely gonna find the dip as an opportunity to buy because with institutional investor also holding big bag of bitcoin most of people gonna feel more secured I guess. |
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I think this kind of move made by VB to dump the shit out of these memecoin market was simply because VB doesn't want this address to be taken advantage of by these meme coin developers as mean of advertising. Just see these meme coin always trying to boast the fact that they sent 50% of total supply to VB meanwhile if their intention was to burn the coin in the first place why don't just reduce total supply of the ERC20 token first before even deployed.
Funny though how people didn't expect this kind of thing to happen meanwhile they should understand it very well once the coin sent to VB's address it's his.
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This problem regarding electricity and bitcoin's waste of energy actually could push people forward to invent any energy generator that could sustain bitcoin while at the same time we find a way for bitcoin to solve its own problem of energy inefficiency.
I know there's plenty of solutions and that's already proposed to the bitcoin community but how about mini nuclear reactor to power the mining rigs, anyone?
Maybe we need something like PoW but better in managing the energy so most of them doesn't get wasted for nothing. However I personally like the idea to incentivize miners with renewable energy.
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Trust me, panicking is the reason for dump to become more longer, it's just 10% dip and we're still around $50K, remember just few years ago bitcoin priced around $8K what's with all the fuss?
If the reason of the dump is truly because of tesla, for sure the market gonna be recovering once many people realize that they don't really need bitcoin to be accepted as payment method for buying tesla because it's just unnecessary at the first place and the market will be moving on.
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Yeah that really ridiculous it looks like a gambling, people just throwing money hoping it gonna give ROI of thousands percent and if fail to do that due to rugpulls or anything the money just lost.
I know it's their money to be recklessly spending it like that but what I dislike is when the newbies get into the fomo train and turns out the coin they invested fail to meet their expectation they gonna blame cryptocurrency as a whole
while it's clear that these coins made just for pump and dump. Now many have done rugpulls and people don't seem to get tired of it.
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what can I say except it's gonna go even higher, just think about it, the halving that decrease block reward + people losing money to some random wallet because of mistake which I know is not a good thing but dirrectly affect circulating supply, I could imagine the scarcity of bitcoin increases while adoption also doesn't seem to be stopping until now. If from the recent halving it could rise as much as 533% there's no stopping it from rising more than 1000% in the future. Moreover many people also trying to create defi for bitcoin by taking advantage of "bitcoin sidechain" like RSK.
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In my opinion, it is very unlikely that the Facebook company will adopt bitcoin, didn't they previously say that bitcoin is not good for investment because there is no guarantor for the asset, so they make their own stablecoin called libra and which can guarantee our assets like conventional currencies in general , but so far there has been no sign of launch.
Anything is possible mate, and maybe they just trying to diversify their portfolio and put some of them to cryptocurrencies including bitcoin, even mark zuckerberg has recently teasing people by naming his goat facebook though maybe it's just merely a tease and nothing more. their libra coin also seem to be stagnant these days, maybe the company just playing safe and wait until CBDC out first then they gonna release their own version of stablecoin but IMHO the most logical scenario is that their company just follow other company that try to invest in crypto alike. |
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I think it's because most of bitcoin holders aren't really moving their coin that much not to mention most of people nowadays prefer coin like tron, etc to make payment online so the transaction fee kinda low, ETH in the other hand having many dapps hosted on top of its blockchain and the ERC20 tokens too, it does make sense for ETH to have significantly higher fee if you compare it. Transaction fees on Ethereum blockchain is crazy now. Sometimes, it needs more than value of a altcoin. Yes, you're right that we don't focus properly that we are spending more on altcoin. At this time we should use Bsc and Tron for saving some extra money.
Most of the dapps that are created on top of ETH blockchain executes rather many smart contract code thus the gas quantity required is astronomically high but it's indeed already high even just sending money definitely not a solution for ordinary people. |
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It will be better if elon instead allow payment for his upcoming spaceX starlink internet service using doge or bitcoin so that way cryptocurrency could also get consistent demand while elon could also reaches wider coverage of customers.
I heard their service provider gonna cover the whole earth so I'm expecting that elon gonna open service internationally as much as possible thought there's something like regulation etc that holding it back but just imagine, an international internet service that accepts cryptocurrency not just sending satellite to the moon.
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It's always better to hoard btc instead of alt and most of people investing in altcoin usually just to speed up their ROI but you also must remember that alt also have significantly higher risk of vanishing into thin air
Maybe just divide your portfolio and allocate some of them to altcoin but I personally once the alt i'm holding giving the ROI that i've targeted I gonna convert it back to BTC to increase my btc holding.
But the sideways of btc already happened for months I'm sure it's gonna change very soon.
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