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no because nothing about "people" would ever change. they would only use a different tool (bitcoin in this case) and continue doing the same thing that they have been doing before and nothing will ever be solved. not to mention that bitcoin is too small and not even adopted yet by more than 0.5% of the world to want to change economy of country!
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i don't understand!
you invested in a bunch of altcoins that got dumped and you lose money because of their dumps and because you were bag holding but your title says your bitter experience about "bitcoin"! how is that even relevant to bitcoin?
i have also been trading altcoins, in fact the same altcoins you named have been in my wallet at some point but i have been trading them and i knew what i was doing. i am not saying i am an expert but i am saying i KNEW what i was doing. i knew i was trading, i didn't have delusions of becoming rich by bag holding altcoins.
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If we are still trading cryptos with the hope of btc reaching All time high now and carry alts along, it might not happen soon.
it will never happen. we have seen many times that when bitcoin rises altcoins will drop instead. and it has been always like this. even years before 2017-18. but for some reason this year people think things can be different and they are disappointed! Now how do we make money off btc dump?
When btc dumps you simply buy ustd when btc begins pump you sell off ur ustd and hold btc. Repeat and rise
bitcoin is not some shitcoin that you are calling it "pump and dump". also using USDT is a risky move. nothing may every happen but the risk doesn't go away and it only happens once and in that one time price of it will go to zero. |
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...ICE aims to transform bitcoin into a trusted global currency
what the actual fuck?! who do they think they are LOL. bitcoin is already a trusted global currency because it is decentralized and secured and more importantly because it is working without needing station in US exchanges to make it so  kidding aside, this is not all a bad thing. at least they see bitcoin as what it actually is (a currency). |
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If the ETF doesn't get approved, we may see a price decrease but the only reason for that is that people pay too much attention for this kind of events even though they're not that important.
For the long term though, nothing except the active development will bring bitcoin to a higher price.
We will see a run up leading to it just like we did previously, we now know we only need one more sec commissioner to get on board to have it be a 2v2 call though. The next ETF is more likely based off who is filling is the rumor right now. but the real question which OP is also asking here is whether we even need ETF for the rise or let me add one more: should we even care about ETF? i'd say ETF is more damaging to bitcoin than it can do good for it. and maybe it is time to stop waiting for it and go back to the way things were before meaning everyone focusing on decentralization and adoption of bitcoin while showing the middle finger to all the centralized entities including SEC. |
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This year the price of bitcoin has dropped for a long time
don't know how long bitcoin will be like this.
well the drop stopped about 1.5 months ago so you already know how long it was like that! what you can't know is whether the drops would start again and if price goes any lower. and that is where speculation comes in. my guess is that there is no reason for price to drop anymore and even if it does, it won't go any lower than previous low we had in June. |
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airdrop is meaningless. and it is used by these useless projects to get newbies to pay them a small attention for a while during the time when they are pumping the coin. otherwise there is no reason to give away money like that to get people to get in.
additionally airdrop is a method of distributing the supply for those coins/tokens that have 100% premine.
the early days of bitcoin was Satoshi mining bitcoin and some others like Hal Finey running a node and also mining bitcoin. then people saw the "idea" and got interested and started joining in little by little.
the pizza story that was mentioned above was years after that.
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it is not market "valuation" it is market "capitalization" which is a meaningless and false metric to even use for cryptocurrency markets. more importantly it has nothing to do with "value" of the market. Whos there a day trader ? This is a big chance to earn lot of profit  only if you want to short these altcoins. otherwise there is no point in trading most of them these days. |
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you shouldn't be thinking about what others are doing and what everyone makes or loses. instead try to focus on what strategy fits you best during each market cycle. if you think you can't make profit during the drops or can not figure out how to do it then don't trade during the drops. it is that simple.
and if you want then you have to focus on where the money has gone. try watching the price of different coins and see which one is rising among thousands of them dropping.
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People are allowed to sell at any price of their choice at exchanges. This is collapsing some tokens value and has contributed to pump and dump.
wrong and wrong. it is as you said a free market, people are allowed to sell at any price they want and they chose to dump those tokens because they decided that they are not worth much and they didn't see any future for any of them. pump and dumps is a very different thing. and it seems like nobody these days dislikes them anymore. people actually starting to love pump and dump since it can make some shitcoin they were holding worth a lot more! This do not reflect the actual values of some of the tokens.And investors make loses.Some investors buy cheap with huge bonuses at private sales so together with some hunters contribute to low prices at exchanges. The private sales buyers are one of the major dumpers because of the huge bonuses they get.So if there are limitations on the price at exchanges, it will help.
your main problem is that you read some bullshit that these ICO advertisers told you about their token and you are now thinking they have actually been doing something real! in reality they are all terrible and this eventuality that you are seeing was expected from them. it is not really weird to see them getting dumped like this! |
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They will first legitimize some crypto (like XRP, made by them) and then make the rest illegal.
This way, they will get a % on each trade and tax the crypto economy.
oh how i wish that they do something like this. that would be the best day of my life because that day finally we can see how much this market and the people in it are really worth. we can see how many of them truly understood the power of decentralized money and how many were here like blind sheep following the money. we may see drops but those drops would be like a purge cleansing the market from dirtbag weakhands  |
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No further updated on when the bearish market will last, The downward movement of bitcoin and other Cryptocurrency will still continue,
i have no argument with altcoins going down because most of them are going down. but bitcoin's downtrend stopped a while ago and we haven't really been going down for at least 2 months now. price reached the bottom at $5900ish and then went back up to current nearly $7000. how can this be a bearish market and a downtrend? |
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no because of a couple of facts:
- the world still sees cryptocurrencies as investment instead of being a payment system and a currency. it is understandable for altcoins since they were created that way but not for bitcoin that was created as a currency.
- the world still doesn't understand what decentralization means and looks to the government to green light using of cryptocurrencies
- the market is still small and that makes the price volatile and that makes it difficult for businesses to directly want to accept cryptocurrencies even bitcoin as payment. then again the previous point is here too. they wait for the government to regulate it before they accept it.
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The potential use cases of bitcoin and what could be built on top of it is what makes me excited, along with other crypto tech. I’ve been listening to coinfi and flippening podcasts, and both share their thoughts on the utility beyond the payment without trusted third party use case. For example, imagine unlocking all the private investment space in the form of tokenized assets. You can have fractionless ownership of art, property, companies before they go IPO etc. imagine getting an etf of downtown Manhattan
I think we are a few years away from some of these, but given that ICE (owns NYSE) is involved, and how much engagement there is, something truly amazing will come out of crypto industry. Once the exchanges adopt some of the investor protection rules (rule201, luld, etc) + custodian solutions, you can see the pension funds of the world feel more comfortable investing
i am not sure what to say about this news about NYSE. in a way it seems like a positive news with a lot of potential in its near future for adoption of bitcoin and in short as you said it sounds amazing but also i never liked these centralized industries entering bitcoin. they had their chance of doing so but they never did for years and some even spread FUD about bitcoin. then they saw they can't fight it so they got on board.!!! |
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it really depends on the coin and the market situation at that point.
for example there are tiny coins that are worth 1-10 satoshi. if these coins go up 10% it is nothing, and nobody gives a damn. they at least have to go up 100% to be "mooning" and they can go up as much as 10000% and it has happened in the past. these are easily pumpable coins.
then we have big coins with huge market cap. if they go up 10% that is their moon!
also during those times where you can call it "pumping season" these percentages need to be higher to be considered mooning because everything is getting pumped.
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now there are only newbies, whales and high risk takers in the market. it is not just bots!
Maybe you need to open your eyes and analyze the trading activity that's going on, which has been going on for months to put it more precisely. It all (at least the far majority of the activity) reeks of algorithmic trades not caring about anything other than the fundamentals the chart is offering them. Bots don't care if we're in a downtrend or uptrend, they just try to squeeze out every possible penny if they see an opportunity. yeah, bots exist and sometimes the market is taking effect because of them but you are still over exaggerating their effects on the market for the past few months. |
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I hardly think CBOE ETF will happen in this August. A friend told me it was denied by the SEC recently and that is the main reason why bitcoins declined below 8000 USD price recently.
It was the WV ETF that was rejected, not the one from VE & SX. Perhaps it's time to surround yourself with better friends. Bitcoin seem to have declined because there simply is no demand around $8000 and soon we'll see how little demand there is around the $7000 level. Almost no one is active in this market aside from bots trying to outsmart each other, which indicates that bagholders are waiting for an increase, and those who were expecting an increase have bought themselves some coins already. It would be hilarious if the SEC just because of the declining price would let the ETF come through. It will at least combat sell the news sellers, which was a problem last year with how CME went live during peak bull run levels. the problem is ETF has created a lot of false hype in the market and since from the start there was little to no hope of SEC to approve any of the ETFs. this meant we never saw a big rise when the hype began and we are not seeing the money come back. which is why you think there is no demand. investors are mostly waiting for this nonsense to be over because they know the market is going to react irrationally to ETF nonsense news!!! now there are only newbies, whales and high risk takers in the market. it is not just bots! |
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in the past people have spread FUD and then succeeded in making the price go lower so that they can buy cheaper bitcoins and made a lot of profit from it. that made them want to do it again and again every time there was an opening.
eventually everyone else saw that and started bullshitting on the internet hoping that they could get the same results. that is why the internet is filled with nonsense about bitcoin during each small dip!
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Something like this already happen many times, but people who need/want decentralization, anonymity pseudonymity, immutability, uncensorable or simply fiat alternative surely will keep using Bitcoin.
Looks like trader/investor still easily manipulated with FUD/negative news.
It sure is off with the big news of ICE trying to bring a new solid steady Bitcoin third party with Microsoft and Starbucks backing it a simple GS sentence is enough to drop the price 6%. that is hardly the reason in my opinion because this news came out late and price was already on a small downtrend before it. not to mention that it really ins't such a big bad news targeting bitcoin. it is focusing on "cryptocurrency" in general which mostly includes altcoins which i even partly agree with since they are really useless! |
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bitcoin price is gradually becoming worse nowadays
worse? really! 2+ months ago we reached $5900 and then came back to $6000-$6400 and stayed there for a long time. and now price is $6900-$7100. how is it "gradually becoming worse"? most btc holders are really frightened to keep holding because it seems have no chance to recover again.
those who have been frightened have already panic sold their bitcoin. that is how we had the huge drop from $9000+ to $5900. |
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