Whales simply use it as a playground. Even if there is a crash, you cannot rely on price movements. When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.
This is the advantage if you are a whale investor, which is the opposite of ordinary crypto traders because only a small amount can be bought in such a bear market. Whale investors have the ability to control the rise or fall of the price of a coin on an exchange, which most traders and have no opponent against such manipulation they do in the market. Unless you can read technical analysis you have a chance to keep up with the sale and purchase of tokens according to my own point of view and opinion. They could also accumulate for a long time without a worry and increase it whenever they want to as well. Getting like 50 million dollars, 25 million dollars or whatever wouldn't be noticed all that much, which means that we are going to see plenty of these people doing whatever they want and whenever they want. They got too much? They could then start to make sure that they could end up making a big of a deal and create a hype and the price go up. This is why I believe that whales could manipulate the market however they and that is known, but they could stay under the radar as well which is the biggest news and the most important part of the deal. |
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Congrats and great story! Hopefully, I'll bump for a random good stranger that's also into bitcoin about purchasing to his/her store and will pay in bitcoin.
Whether we're in a bear market or not, if there's really a need to spend our bitcoins for important things that will make our lives easier, it's okay to spend it. I've been there and thought of that it was a mistake but that was put into good use.
I think I know something like this personally. I mean it is "technically" not the same because it was a factory type of stuff. I do not know what it is called in English, it is not like a huge factory, but it is like a small shop type of place, like literally size of a decent size room, like a room and not a whole factor, but things are made there, with machinery etc. And a person bought that place for bitcoin as well. This was like a small shop that made fake jerseys basically, like a jersey place but for made up teams instead of real teams and for many kinds of sports as well, from soccer to football to baseball to hockey and so forth. That was quite surreal, love it. |
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Positive declarations about crypto will encourage citizens to adopt Bitcoin. We need to understand that Fed is not likely to make massive steps towards adopting Bitcoin. Even if they might make plans secretly about hoarding Bitcoin as it might become a global reserve currency, they won't disclose it publicly - you don't want other countries to accumulate at these low prices, don't you?
I'm not sure about laws and policies, but I think the government should announce if tax payers' money goes towards stacking, crypto right?
This is the right approach. I know that there are many people who will constantly be against crypto and that will continue to happen for a long time. But the reality is that if you keep an eye on bitcoin at all times, then you are going to be doing much better. I know that not many people will promote it, not the famous people who are known by the world a lot, not many Elon Musk type of deals. But this is fine, we do not need that type of people at all times, we should be able to feel proud with what we have and there is no need to do anything exceptional about this situation. As long as we are doing fine, that is fine by us and no need for big names to come. |
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I think portugal and spain have both endured youth unemployment statistics near to 50% for their age bracket of 19 to 24. It would seem parts of europe have already achieved 50% unemployment for some segments of the population.
Those are regional things, it's mostly because of particular situations and also a lot of mentalities of the populations. All over Europe there are different things, from low unemployment when it comes to women in Italy for example, to youngsters in most southern countries to overall less willingness to work in the true economy and more in the black, unregulated in the eastern parts...and so on Anyhow, when it comes to Europe the employment levels are sky-high, even in Spain, Spain sees record employment levels since 2008, the EU is experiencing the highest level of labor participation in its history, 74.5 %, it's full 10 and in some cases, even 20% higher than other countries in the world and I'm not talking about 3rd world economies. I do not think that it's regional all that much. Look at the USA, or the UK, I know some Asian nations too, and in places like Venezuela and Turkey they have it for higher range, people who are 25 or under, and people who are 50 and over all having hard time finding jobs. Young people because they lack experience, and older people because they can find cheaper alternatives that are 10+ years younger. Getting 40-45 year olds as high level managers, and executives, and getting 30-35 year olds as worker base. This is both cheap, and also has ab it of experience for most of them. It’s quite good business for all the companies, but ruins the nations for sure. |
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Honestly, not many expected it to be like this. During all of this chaos when everyone and everything looks to be going crazy and nobody knows what’s going on. It’s quite good to see them doing at least a bit decent. I have to say the best thing to do right now would be slowing down a bit, and checking what Celcius managed to do. This isn't a simple task neither, it’s a task that has happened very very well and it’s a big deal. I know that some people who were inside probably knew it, if you are invested into it, you follow it and you would expect it. But, for people who are outside and not really aware of what’s going on inside Celcius, we gotta say it’s a big damn achievement. Certainly, a reason to get a bit of it. |
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Hello, I am a nontechnical newbie with medical background. My coding or computer education is almost nil. I want to learn about bitcoin and everything in crypto. What are the suitable resources I can follow?
Thanks in advance..
you can view that links which links you got from first 3 post on this thread. and for more information you can googled as your needed. and you can also watch youtube video about bitcoin. and i will advise you read about bitcoin on this forum. you will get many info about bitcoin & cryptocurrency here . just you have to search hardly yourself I would say that even googling itself would be enough. But at the same time, you do not really need to go into too much detail to know what you need to do in order to profit, do you? You buy bitcoin from one of the places in your nation, you hold it, and eventually the price recovers and you make a profit from it, that’s about it. I do not know why people are making a big deal out of all of this, "non-technical" is a weird thing to say when we are talking about money. Do you need to be a technical person to use fiat? Of course not, if you are not purely cash type of person, we handle all of it with digital apps on our phones and crypto is not harder. |
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it is important that you should not be wasteful with the money, bitcoins or stablecoins you have left for investing. The market might be bad for months, years or longer. Be cautious and do the research. Invest in good development teams.
I believe that there must be a million projects who are waiting for the bull period right now. I know some of them, they are literally just waiting for the current situation to pass and that way they would be able to get it out when the bull comes. It is not going to be a perfect time, but it is not going to be impossible to wait neither, it is just simply waiting. They keep on improving and making it better and better and better basically. This is why I believe that we shouldn't be shocked about the fact that there aren't that many projects these days. Believe me, the moment we pass 30k there will be some, and when we pass 68k, there will be a thousand more coins for sure. |
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I don’t want to name some specific number of token though, but I think they have made me a millionaire in Philippine peso that time even if it was in a bear market trend (well, I am talking about 2018). It was the reason why I have traveled more often for 2 freaking years in both local and international before the COVID-19 pandemic began.
Right now, it’s just hard to make millions in crypto unless you are so lucky that one of the coins or tokens you’ve bought has made 100,000x or something like that.
In my country, if you want to be a millionaire in our local fiat, it is like just a bit over ten thousand dollars I believe, maybe like 50k? Probably not even as much, don't know the math to be fair but it is definitely much easier. This is why I can easily say that if you move around and find the nations where you could live a lot better, for cheaper then you will be doing fine. But, when it comes to stuff you need from other nations, that's the trouble. Like yeah you can get meat, pay bills, get a fish, get blanket, buy a couch whatever all for local purchasing power levels. But when you want PS5 or the new iphone? That's going to cost a lot. |
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We need to understand that there are all kind of actors that want us to get rid of our coins, the media wants for us to lose money as this creates more juicy stories for them, the government wants the same because they want bitcoin to fail and by having people losing money they delay the adoption of bitcoin and even whales want us to sell our coins as this generates a cheaper price for them to buy all the bitcoin they want, and as you can see the only ones that lose by selling bitcoin are ourselves which is why we must not do it.
Well, it is understandable that media would want to do whatever they want to do because it would benefit them. You need to understand, media is the most powerful tool right now, it could be a "media" such as a tv channel famous in a nation which is a giant, but it could be a simple youtube channel discussion politics or economics or whatever, even gaming has that. This is why I believe that if you own a media channel, you would get rich one way or another as long as you are viewed, even if you spew lies. Because, someone would fund you to spread those lies. In this case, bitcoin will die is a profitable thing to people who are shorting for example, simple as that. |
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But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
depending on the assets you want to collect. in a long-term investment, I think you don't need to think too much about the base price. just collect some according to your ability. and plan well. when you see another dump happen, you can buy it again according to your ability. and do your long-term investment planning again. If you look at the history of the crypto market, I think you can plan your long-term investments more wisely. This is how people should approach to long term investment. I mean if you do that with Luna then you had a trouble but if you are not doing it with something that will go to zero, then why would you be worried about it at all? Just get bitcoin or ethereum and keep buying it when you get some more money to spend. I once did this with food and entertainment, wasn't sustainable. But, whenever I wanted to order something like McDonald, or pizza, or whatever, or when I want to go see movies or anything like that, I just took that money and put it on bitcoin instead. Of course you get bored of it eventually, but for 2 months I saved more money than I usually save. This is how I approach things now. |
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I think in all honesty, it's too early to tell. Because it's also never possible to tell if a bottom has occurred unless there is some form of confirmation (hindsight is a beautiful thing). In the context of current price movements, I think if $19K support fails then price can go significantly lower. Likewise if price can reclaim $23K, then the possibility of $17.5K being the bottom significantly increases, even with the bear market continuing.
My only issue with comparing previous draw-downs with the current, is that previous 80% corrections occured after a parabolic blow off top, something this cycle lacked. Despite macro economic factors being very relevant to suppressing Bitcoin's price, the reality is it's only relevant until it's not. There is only correlation with stock market until it breaks. I wouldn't rely on this factor alone for further downside.
That is true, knowing when the bottom happened is not something we could ever know until it is too late, because if we did know it, we would simply just sell all of our possessions and buy it from the bottom. You would literally take out the biggest loan you possibly could, and get bitcoin with it. I believe that getting somewhere close to the bottom is enough, and when the price declines to go any further down, it looks like maybe that's the bottom? Exact bottom is unknown, but thereabouts is something you could find. Like if it is 17.6k, then maybe it is fine to get it at 18-19k range right? That's what you can find and that is not too bad neither if you ask me. |
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No chart, price model, or price in general can dictate if bitcoin has topped, bottomed, or any other sort of "signal". We can use such chart as information on how high or how low bitcoin went, but I don't think we should be making decisions solely based on it.
It is because of this that trading is not only a science but an art, we cannot just take a look at the numbers and then take a decisions based on them, and while this is better than what the majority of the traders do those which are the best also try to consider other factors when taking their investment or trading decisions, the chart presented is an useful one but I think there is still potential for the price of bitcoin to go lower, however the current price is a good starting point for a DCA strategy. That "art" part is a bit wobbly though, and that's kind of the trouble. The science part is about the data, and you could make calculations based on that and it wouldn't be too hard. But, the part where it is art becomes a bit harder and harder every year. This is why I feel like it's not going to be that easy to convince people to stop what they are doing with the data part, and start focusing on the art part as well. I personally do a long term investment and I have no headaches because of it. However, when I trade, which is a small time thing for me, I still focus solely on the data and yes sometimes I am wrong but that is worth it, much better than just winging it. |
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A good way to make the old supporters remember and for the new ones to learn. If you are just looking at a chart one year ago it won't be enhanced like this.  I have no worries because I never forget. Even at my age, it's still fresh for me what happened back on those years. A decade ago. Not the exact numbers though but the broad amount of change in its price which made a lot of investors panic and some optimistic that it's a chance for entry. This could also be the same as those. I agree that when you look back on it that much, you know how it is going to be. I have been in crypto for many years now and I can easily say that it is not going to be that difficult to find a way to get it better. I know that it hasn't been great for a while now, but I have passed through other not so great times before and I can easily say that it wasn't that difficult to wait it out. Like 2018 for example, it is famous for being terrible and it crashed hard and everyone felt terrible, well 2015 was the same but not many people remember that year, because most people weren't here back then, but 2015 sucked as well, then 2018 did too, and now 2022 is doing the same, I guess that it will happen again. But, they all recover, always. |
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The United States is misusing the position of USD as the global trade and reserve currency. This position enables them to take loans worth trillions, at extremely low interest rates. In short, US is getting rich at the expense of other countries (who use USD for international trade). But there is no alternative available as of now. Other fiat currencies (including EUR and CNY) are even more prone to inflation when compared to the USD. I would prefer a decentralized currency such as Bitcoin, but only two countries have made it legal tender till now.
I would guess that getting cheap interests on trillions of dollars worth of debt is not "misusing" at all, they are using it exactly how it should be used for them. It is the other nations that allow them to do that, so it is wrong for those nations, and if they do not accept it then they would not be getting such a bead deal. You want to really screw with USA? Go work with China. Sure China is not a good nation at all, weirdly enough one of the only few nations that could be considered worse than USA, which is rare because there are so few of that. But then USA would realize their mistake and would recover their relation with you for sure in that case, just so you would stop working with china. |
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You have asked a lot of questions in single post. This is bear market and it may last for couple of years. I am saying this on the basis of previous data. Also , no one know the exact bottom, we can only speculate. It could reach 12k or under 10k.
Regarding bitcoin price stability, it may never happen as at times bitcoin dumps while other time it pumps.
I do not know if it will take couple of years. Usually, it is just one year that is bad, then it is in recovery mode, sure it won't break ATH in a year, but it will probably start to recover soon. We had our ATH in October of 2021, so by October 2022 which is in just a few months, it is going to be a full on year where it kept going lower and lower. I guess that by the end of 2022 and start of 2023 we are going to start having some good recovery. Will it reach 70k+ prices? I do not think so, but I believe that it is going to be fine. This is why I believe that in about half a year we are going to get a start, and from then on for a whole year it will slowly and gradually go higher and higher. |
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There was enough time for POS to prove itself as something better, but I don't see any cryptocurrency using it that is better in any way, especially if we take into account the security provided by POW. People who advocate this transformation are mostly those who believe that Bitcoin consumes too much energy with an emphasis on dirty energy, and actually do not want Bitcoin to become greener, but to gradually destroy it.
I hope that reason will prevail and that this will never happen, because there would be no end to radical changes - I'm sure that after that the max supply change would follow, because there are a lot of people who think that 21 million Bitcoin is not enough for Bitcoin to be successful...
I would guess that POS proved itself as better in the sense that it is not spending any energy. That should be good enough to think that it is quite good and understandable. I personally believe that the best thing about the world is that we have only one, and if we keep ruining the world then we are not going to end up with making a recovery, it is not the crypto market, it is not going to get better. So, with POS at least we are staking and not using energy and that means we are going to end up saving the world from all that excess energy that mining causes. Sure there are other stuff as well but we shouldn't really be focusing on anything like that at any given time soon. So, just go with staking. |
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1.Yes, the Federal Reserve has enough power to stop the inflation and put it under control. A big enough interest rate hike can stop the inflation. The problem is that the politicians don't want to cut the government costs and reduce the gigantic US federal budget deficit.
This will cause the Federal reserve to restrain from big interest rate hikes, because it will become difficult for the US government to borrow money and pay debts with higher interest rates.
2.The US economy has been running on steroids for several years(money printing, stimulus packs, Trump's tax cuts). A recession might be healthy for the economy. Lots of bad businesses will go bankrupt, lots of "bullshit job" positions will get shut down. Unfortunately, the "too big to fail" banks and corporations will receive government support again.
I honestly believe that the best thing we could do right now is pressure the US government and FED to increase the rates as much as possible. If they do that, then the whole world would have to follow and do the same otherwise it is going to hurt a lot. This is why there is a good chance that we could end up with a big problem if things keep going like this, inflation can't be sustained forever. We need it to go down a bit, maybe not 2% of course , not right away at least, but we need it to go down for sure. At the end of the day, it is all up to them, it's out of our control and we should go back to crypto, to see what we can do and that would be much better. |
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Happy birthday there mate! Wishing you more birthdays to come and more stories that you will share on this forum.  About the topic, it's really shocking how the inflation rate went up fast this year. Taxi and other public transport drivers here in my country are the most affected by the gas hike because most of their profit at the end of the day only goes to the gas for their next day trip. They only manage to bring very small amount of money to their families. As a private vehicle owner, I can't just go somewhere anytime I want unlike before. As much as possible, I maximize the usage of my car like buying groceries and paying bills at the same day to lessen the gas consumption. Yeah, it certainly did go up. And the sad thing is, not everything went up like that, and some stuff stays the same and that is creating some problems. Like lets say if you had a chance to make a contract with someone for 2 years, and the cost was like lets 100 dollar per week, and then you have been doing that for the past 2 years? Your cost literally could be higher than the price we are in right now. This is why I highly doubt that it would ever be something similar to this, and I doubt it would ever be valuable enough to say that inflation is equal for everyone, it's not. For example, a friend of mine has a renter, he has a contract with them, and they pay rent 50% lesser than everyone else, why? Because they made the contract before the pandemic started. Unfair if you ask me. |
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Traders by definition have to be an active bunch, after all you need to read several charts and you need to do it more frequently the faster the chart moves, after all you need to interpret a chart of 15 minutes 4 times in the same period of time that you will interpret a chart of 1 hour only once, so I do not really agree with you unless you are actually talking about investors instead, investors can afford to be more passive in their approach to the markets as they are more interested in the long term than in the short term.
That "activity" should be something that could be risky for the trader at the same time. There isn't really a big deal at all if you just end up doing a long term investment where you hold it for a decade or more. Whereas a trader would have to be active and constantly do something and that ends up being a terrible situation. So, just focus on what you are doing at that moment if you are a trader and be always ready for the current situation and always be ready for a drop, so have your stop loss and so forth ready. This way you could limit the loss as well. There isn't really a good deal to be trader to be fair, just be a long term investor and you would be fine. |
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Yeah, well, a $1B paper loss or unrealized loss.
Way back when Saylor first started buying Bitcoin, I remember someone on the forum meandering something like, "time will tell if he's a madman or a genius." This is going to depend a lot on the behavior of the Bitcoin price.
It's the price of course. If today the price of bitcoin was $100k then people would say him a genius if they call them madman now. He is not genius nor madman, he is an investor. An investor do not throw away their wealth. They have strategy and they follow it. Unlike 99% who think they are highly skilled traders and when price is skyrocketing they make some trades with positive gains against dollar, the real investors analyze the data for longer terms. I would guess that it would actually be like that one day when it happens. This is why I believe that we should be focusing on what "could" happen and not what has happened. "If" the price was 100k right now he would be considered a genius that is for sure, but it "will" be 100k for bitcoin for sure, it is not going to happen to be right now, but it will happen in the future and when that happens he will be called a genius. Definitely he hasn't been called one right now because of the price fall, but just because he is not called one right now, doesn't mean that he will not be called in the future, those are irrelevant stuff and that is why I believe microstrategy has a great strategy (pun intended). |
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