There are many coins already with "better tech" and much faster confirmations, but people simply don't care about them. In this industry it's all about first mover advantage, and Bitcoin has exactly that.

Bitcoin is also going through the necessary upgrades. SegWit is a very important first step, where the next step is to have the lightning network rolled out. It's just a matter of time and it will spark adoption even further.

Great thing about current time is that people aren't using crypto as actual currencies, which means that Bitcoin has enough time to scale towards mass usage by second layer technology.

I remember a similar case here, but with someone who just didn't want to leave, and rightfully so. Eventually that person got paid what he wanted for his property and left to see how it later was reduced to dust.

It was far more expensive and time consuming to get that person to leave through a legal battle, so they went with the easiest option. As last person standing you can achieve quite a lot if you don't let them scare you off.

I'm however not sure how friendly the situation would be dealt with in Asia and Africa. People's rights there are of less value and you probably lose more by playing hard game if you're unwanted.

That will be a brutal dip. Imagine someone buying 1BTC with his life savings for $100,000 and it drops 60% in a matter of months.

Technically it's the same as when people buy Bitcoin right now with $100,000 and it drops 60% in value, but psychologically a 60% drop meaning 1BTC loses $60,000 is different from 1BTC losing $6000 with a 60% drop at current levels.

On the other hand, if institutions gain an upper hand in this market, we may not even see corrections of that magnitude anymore. It's very likely that we'll see exchanges enforce stock market security measures.

One way or another, the market will change, and if it becomes more stable due to these changes, it's a great step forward to make Bitcoin even more usable as a currency. Stability is key.

If that happens and we again break the $6000 mark, we will test $5000 shortly after. It will then look exactly like how the market corrected after the bull run in 2013. The similarities grow stronger every month.

The bull run of 2013 peaked over $1000 and bottomed out at $150. The bull run of 2017 peaked at $20,000 and may bottom out at $3000. This obviously is assuming it will follow the same path.

$5000 seems realistic with an ETF rejection and I'll happily buy that level. I'll probably buy it pretty hard instead of being conservative. We may not get another opportunity so we better make the best out of it.

I have seen various professional traders state that it doesn't matter what asset or stock you day trade, the only thing that matters are the fluctuations, which is something I do agree with.

Overall, bots don't care what altcoin you are trading, so why would manual traders care? It's clear that when it comes to altcoins the worst coins without any idea behind them perform the best in terms of profitability.

One moment people are focusing on Litecoin for example, then directly hop over to Dash because there is more action happening, and more action means more potential profits.

Altcoins are preferred for day trading purposes because of how you can still bank on them with a small balance. If you lose a few % then so be it because you'll move to another coin to try your luck there.

No one but Yobit itself knows. Positive sign however is that 7 hours ago BTG tweeted that Bittrex allows BTG deposits and withdrawals again. It means that the network is safe enough for exchanges to work with.

If Bittrex can do it, then an utter garbage exchange with far less to lose can do it too. I don't believe that Yobit will keep the coins, so no one has to worry about its coins to be stolen. People just need patience.

Institutions will enter silently without anyone here having a clue about what and when things happened. I however hope for people that institutional influence doesn't hit the market with full force.

The higher the price is the less incentive retailers have to buy it. Owning a whole unit of something is psychologically very important regardless of the value we're talking about.

People aren't interested in owning a small piece of a cake, they want the whole cake. There was also discussion on having the Amazon stock ($1800 per share) split up to allow retail money to flow in that stock.

Not sure if it will happen, but it's definitely interesting to follow.

Bitcoin offers you the ability to hedge their overall reach, which is the only thing that matters for me. People are afraid of governments, but we shouldn't forget that governments are more afraid of Bitcoin.

The last thing they want to do is push people away from them, so they have no other choice but to embrace it or at least tolerate its existence in a way that it isn't limiting people too much.

The only thing I hope for is that they take the time to understand what this whole industry is about, because maintaining a healthy relationship with regulators is a great benefit instead of a disadvantage.

One way or another the coins merchants generate from sales have to be sold to reduce the risks the volatility exposes them to. Merchants need to have a constant flow of liquidity in fiat to operate.

It's practically impossible to completely discard a central entity in the process. Only when merchants can restock themselves and pay their rent and all with Bitcoin they might not have to convert anything to fiat anymore.

That's however not the case right now. I obviously hope that we'll reach that stage later on, but don't count on it. I'm already happy that more and more merchants accept Bitcoin, which is good enough for now.

Firstly, you can't trust any prediction. Secondly, there is no such a thing as 'legitimate information' when it comes to the crypto world. Every detail is highly speculative and not worthy of relying on.

If even the traditional experts who really know their own game can't predict the movements of this market, then how are noobs not knowing anything supposed to conduct proper research? It's impossible.

If noobs focused more on hodling than trading worthless trash coins they wouldn't keep losing their capital. In stock markets 90% of the traders are losers, which is probably even worse here.

It's a healthy correction combined with a mild ETF rejection hangover. If you see the price go up from below $6000 to over $8000 in a short period of time, then know that some traders will secure profits.

Who doesn't want to secure a proper 30-40% increase? I'm not a short term trader, but if I was I would have gone for it. With the Vaneck ETF still in the game the price will rise again.

I just hope that the SEC won't yet again delay their decision. I rather see them reject it right away so the market can get rid of the ETF speculation that's baked in the price currently.

Well, technically you don't lose anything if you don't sell any of your coins below your buying price. As long as you don't buy into shitcoins you should be able to recover with patience because the long term trend is always up.

BitMEX is pure gambling since you can lose all your coins, which happens quite frequently. People don't realize how dangerous 50x or even 100x leverage is. With 100x leverage you can lose everything in a matter of seconds.

On the other hand, people need to lose money in order to realize they did something stupid. If you do stupid things and get rewarded for it anyway, you'll never learn that there are severe risks involved.

They have no choice but to act like they don't know anything. If they are found guilty of participating in an obvious scheme their careers are over. The only thing they can do is hope for mercy.

Overall, people need to ask themselves how this all happens. Is it the fault of this scheme? I don't think so. It's the fault of people themselves, because they solely are responsible for creating this demand.

Without people creating demand for schemes there won't be any schemes. People's greed never fails to surprise me, which is quite pathetic if you think you have seen the worst already.

Technically it's possible, but it's highly unlikely considering that bull runs that significant never follow each other up that quickly. The market needs to get rid of the circulating supply before it can properly recover.

The power of last year's mega increase was that no one expected it and for that reason were forced to fomo all the way up. Currently that's completely different with how people are ready for it.

People being ready means that they are ready to sell if we go up high enough reaching their target price. Reaching the $10,000 mark will be the main target this year, which requires a great deal of momentum.

I wouldn't put too much confidence in that Forbes article to conclude that the ETF next month will not be rejected. The overall market has been maturing somewhat, but it's still a shitshow mostly and thus poses too much risks.

The only aspect giving me some confidence is that CBOE is trying to get it through just as hard as Vaneck and SolidX. That's directly why other ETF's by default don't stand a chance.

The Winklevoss ETF has turned out to be a wasted effort. In all the time they had there hasn't been one fundamental change that could have granted them higher odds of approval. They have only themselves to blame for.

May I ask how old you are? I'm asking this because if you have ever paid tax, you know that there isn't anything in the world the government can't tax you for. Even if it concerns your shoelaces, taxation applies.

I however do believe that governments will rewrite certain areas of their tax brackets to make it easier for average joes to understand. Even the people buying and selling Bitcoin in 2011 we're legally obliged to pay tax.

Most of them probably didn't bother to pay tax, which is entirely up to them and perfectly understandable, but there is just no way to get around it. The government is everywhere with their taxes.

I hope that the SEC keeps rejecting all the ETFs throughout the years. Yes, the price will go down but if the increase in price is solely related to an ETF then we simply don't deserve that growth.

Institutional adoption happens way too fast, which is great for those interested in the price alone, but not for those interested in actual usage taking place. We'll see where it goes from here but I'm not convinced.

If we today for the first time would have reached an all time high of $3000 we wouldn't see any of the current craze and mainstream media hyping. $20,000 should have been reached somewhere in 2020 or later.

I get your point, but what you are describing hints at people who shouldn't have invested in Bitcoin in the first place. These people are clearly not made to expose themselves to the hostile nature of this market.

People tend to see this market as a joke or a fun side hobby that could pay off big time, but it's not and it won't because of people's ignorance. Markets don't go up endlessly, which is something they don't understand.

Overall, whether average joes are bag holding or buying high selling low, they'll lose anyway. It happens in almost every market already, where crypto as always is even more extreme with weeding out weak hands.

On one side I'm quite happy with these financial instruments, and on the other side I would prefer them to not exist at all.

The positive side of having these instruments is that it grants Bitcoin legitimacy, which is a very important factor when it comes to shaking off altcoins that are slowly catching up due to people's stupidity.

The negative side is that it will turn Bitcoin into a market controlled by institutions just like how they control the prices of stocks and other assets. Bitcoin has grown too large to not be noticed by institutions.

Overall, with or without an ETF, the price will break new highs later on anyway. It only requires a bit more patience.

My thought exactly. The industry has been infested with get rich quick noobs and we definitely don't need more of them. I rather see them flow into altcoins and put their money to waste there.

Bitcoin seems to be less attractive for noobs and I actually like it. Most of the people investing in Bitcoin do it for the long term or they use it as store of value. The rest has left to altcoins hoping for better returns.

I remember how people here were excited to see celebrities promote Bitcoin, while now rightfully don't like to see it happen. Bitcoin is not a statement of luxury and shouldn't ever become that.