I hope that the price doesn't fall again, today there was a small correction that made bitcoin another chance to drop below $20k, if this happened it would certainly cause panic like before, focus on the goal of profit, namely not to panic when the market drops.
I would guess that the price could go up and down a lot during this period, and we would have to face this fact for a long time and we will worry which direction it will go until it happens. Think about it this way, we had this for a long time but we recovered a bit right now, right? I mean remember the 28k-31k period? We had that and then it dropped to here, which shows that we could literally go down from here, and that is a reality we have to accept. At the same time, I remember a million other times when we got stuck between two prices and then went up as well. So, we have no idea which one it will, but both are possible and we need to be ready for them. |
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I believe that this trader is right that he continues to trade even in such a situation as now. Probably this is his only source of income, which means he needs to trade and earn. There is also another point, the fact is that now the prices for cryptocurrencies are very volatile, which is a great opportunity for an experienced trader to trade and earn income. On the other hand, if this trader is trading, he sees opportunities, and those who have stopped trading are probably just not confident in their abilities. In any case, everyone must decide for himself what to do, whether to trade cryptocurrency or not.
People who trade to earn, if that is their only income, should focus on maybe some other method for an alternative source of income during bear periods? I mean do not get me wrong, if you are a great trader then you could probably make money during this period as well, but that doesn't change the fact that you shouldn't really do something like this neither if you are not a great veteran who can do it. A person who has absolutely no chance of making a profit during this period, but normally relies on it to survive, will both lose money in a bear market, and won't be able to provide income for his life neither. That's a big risk, and I suggest finding an alternative. |
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Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.
The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.”
The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.
The Economic Daily report says the west is to blame for creating a highly-leveraged market that is “full of manipulation and pseudo-technology concepts” which it said was an “important external factor” which contributes to Bitcoin’s volatility.
Of course nobody cares about what china says in the macro sense. Not saying that they do not have the chance to make it go to zero, but it is clear that we are talking about a nation (or government in this case) that hates bitcoin and crypto to begin with and tries to do everything in their power to make it go to zero if they can do it. So, if they warn about it, that is nothing new, they would be warning obviously because it is something they wish to happen, just because they wish it, doesn't mean that it will happen. I personally believe that bitcoin will be going to 100k+ on the next big bull run, and China will try to do some things to prevent that for sure. |
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Few will understand this.
For sure that most of the people who are crying because of this small dump are those people who bought Bitcoin just for money. They don't understand innovation, how Bitcoin works and how Bitcoin will help our finance.
We should always have a long-term mindset here.
YES! This is so right and you are 100% correct on this one. People who come into crypto just to make money and that is it, do not understand anything about crypto and will lose money one day or another. People who understand why bitcoin is far superior and why crypto should be loved, all the features, tech, blockchain, decentralization and many other things, will understand why it is such a great thing. I personally love bitcoin because I hate banks and fiat and the unfair advantage those people have in the eyes of the law against people like us. Here, rich could get richer, but a poor person who holds will get rich with them, it is equal playing field and that is why I love it so much. |
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The Debt/GDP ratio of Japan has been known for decades. Did you recently find out about this info?
I'm not familiar with the structure of the Japanese debt, but it seems that there's no major problem with it, since there's no attention coming from the mainstream financial media. I assume that Japan has lots of domestic debt and domestic debt isn't such a big problem, compared to foreign debts. I also assume that the debt has a pretty long term repayment structure. Most of the payments are postponed for several decades.
The biggest problem of Japan is not the national debt. The biggest problem is the bad demographics: less young people and more old people. This will cause a drastic change in the Japanese economy and social security system in the upcoming decades.
I think I read somewhere that it was about how much of it needs to be paid asap, and how much money they had. So, let's make some numbers up, let's say you have 200 dollars in debt that you have to pay, and you only make 20 bucks, but only 10 bucks of the 200 will be needed to pay today, what do you do? You pay that 10, and have 190 left, and use the rest of the money you have to build something. That is why Japan might be doing fine, because even though they have big debt, due to inflation and many other aspects, the amount they have to pay asap is not that big deal for them. Many nations have that, USA has that as well, it is quite ordinary to have debt. |
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The dollar is not strong with an 8.6 inflation rate with sign of slowing down. Biden has compounded the federal reserve's ineptitude by incentivizing lockdowns through COVID fear/hysteria, large unemployment checks, and unnecessary spending to the tune of trillions. He's made the situation worse and the pitch for Biden was "not Trump." No one legitimately thought he could save the U.S. economy or reverse the spending that happened before his presidency during the 2020 COVID lockdowns.
It is really a funny feeling to see republicans trying to spin this on Biden. As a progressive myself (and not an American at all, thank God) I could see why this has nothing to do with Biden, but since you guys are just hating on democrats all the time, you would love to spin it for him. Dude took over a nation where Trump gave 3x more money to public than what Biden did, he did 800 bucks or something if I am not wrong whereas Trump did 2 checks of 1.2k dollars, and that is just to people, we are talking about something like 3 trillion dollars printed and distributed to the public. And now Russia and Ukraine is fighting, and oil prices are high EVERYWHERE and the food prices and inflation is high EVERYWHERE but yeah... Biden did it, sure...  . Thank God I am not an American. |
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Terra doesn't have the money to make amends. https://twitter.com/unifiedh/status/1538825838279663617?"stop asking me why i couldn't make it to NYC frens, this is why: the Korean government imposed an exit ban for all ex- @terra_money employees today" But many TERRA employees are not in Korea. I would guess that they are just trying to stall the situation, they do not want to get into jail, and they do not want to be found guilty and sued for a lot of money which they can't pay back, what happened just happened and they are going to have to face that fact already. I know it is not an easy thing to say and I know it will take time for them to realize this but at the end of the day if they can't accept this, and go to the court and defend themselves then they are going to be charged with something when they are not there anyway. Avoiding it doesn't make it go away, these people and mainly Do Kwon will be charged with breaking certain laws and that may have bad repercussions for the long run for sure. |
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As long as they are not greedy for profit, they can profit from bitcoin trading. The bitcoin market is still going up and down erratically and will continue to do so. People who already bought it at a low price can now sell it for profit but can also hold it for longer and only sell it when the price rises higher than it is now. Getting 20%-30% profit is enough because it is very difficult to make a profit nowadays.
The quick recovery is basically just the proof that we are in a market where 20k is pretty strong resistance. People know that it was the previous ATH in 2017 and they believe that we are not "that" bad right now and that is why buying when it is under there is pretty easy decision. Doesn't mean that it can't go lower, it can still go lower way down if people end up selling a lot, but there is a difference between 40k and then suddenly under 20k, it is easier to buy some here. I didn't do it unfortunately, I should have done it, considered doing it but honestly I didn't had the courage this time around because felt like maybe it would go down more, it was a mistake, wish I bought some more. |
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The markets are completely unpredictable and what better example of this than the last bull run of bitcoin, when the pandemic just was starting people were very worried about it and the price of bitcoin went down due to those worries, at the time it seemed as if the price would have taken a lot of time to recover, and instead what we saw was bitcoin finally breaking its previous all time high with ease, so it is possible things have to get even worse for the bull market we are waiting for to finally appear.
That made a bit of sense, I am not saying that it was the most wonderful idea, but it did made some sense. I have to say that pandemic caused a lot of financial problems, but the inflation was due to money printing, since nobody had a chance to make money, what happened was USA printed money and distributed for free, to everyone, and this means that people ended up making money for doing nothing and invested that into crypto. This caused it to go up, that is also the time stock market went up and gold went up, basically everything did. This is why FED increased the rates, trying to collect some of that money back right now to make sure it doesn't go bad. |
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Can you make more money participating in bounties or airdrops? I made the most money doing airdops so far, like the one from Uniswap, but long term, I think bounties like the one from candlelabsdotorg will pay off better. What do you think? Which of these methods of earning free crypto should I pursue?
Not all bounties are giving profit to everyone here, though I cannot deny there are some bounty are giving payment in altcoins, and some are via bitcoin payment. And for airdrops, I am not sure about this if we can still get a giveaways for this one. Just be wise in choosing the new bounty campaign here in the forum. It maybe a waste of time to others but for bounties are not a waste of time especially if you know how to determine the legit one new projects. The risky thing is that you are spending a good chunk of your time, but also you are missing out on entering another one as well. So, while you work hard and get paid nothing after 1 month of work, the person next to you may have spend the same time and effort and get paid hundreds of dollars instead. It's not just about not getting paid, that could happen and that's sad, but when you add the fact that you could have gotten paid, that makes it even worse. I personally do not join them all that frequently, I rarely do but when I do it, the only thing I care about is getting paid, so that I wouldn't be upset about all the things that I could have done and missed during the same period. |
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All we can predict a coin but certainty does not necessarily happen even if using different analysis, for shiba inu I think a project that can indeed develop for the future, but we do not know when it will happen and the predictions made are really very long maybe in that year we are already in the last phase and only some old investors can feel this, and for now there are other coins that we have to monitor to get faster results.
That "unknown" thing is the reason why people end up selling these coins and moving to more known things. Shiba "could" do something magical and awesome in the future, nobody denies that but there is a possibility of that, we do not know if it will happen or not. This is why I totally understand why people would prefer to see it get done a lot quicker with other things that have a roadmap and could actually make a difference. Why invest into shiba for unknown reasons that may happen, when you can invest into ETH which will have a 2.0 for example? That is simply an example, you may have an answer to this but in the end there are too many examples like this. |
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I'm selling everything for Bitcoin.
Basically, there's no object in my life that wouldn't be traded for Bitcoin at the right price. I'm ready to live that Jedi life over here.
Your donator status in the forum says it all. You are one of the early adopters and you are still keeping the support for bitcoin. Keep it up. On my own, am doing the little I can do to save up the little I can in bitcoin. My problem is that I hardly can save enough. Yeah people who got in very early definitely did make a lot more in bitcoins and having a bigger trust in the system is easier when you made that much money. I will take it one step further, people like me who have been in crypto for as long as those people have been, but didn't made that much money, end up trusting it even more because we have seen what happens when we do not, if we did then we could have been pretty rich and we didn't and didn't become rich. Now, I am on your level as well, even after being here more than most people, I still save little by little every month, and then hoping that it would give me a good return in the long run. |
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To control the development of bitcoin or crypto, of course, it will be very difficult for the government, but the government can only make regulations that do keep crypto under their control without them being able to fully control it, now many governments are starting to regulate crypto as a type of investment that is indeed allowed as long as it is not used as a means of payment. Yeah, some of the government nowadays are really accepting little by little the adoption of the digital currency like Bitcoin or cryptocurrency, They can't stop this is true and can't be defeat by it. Although, the government of each nations has the power to ban it or not, where it will always depend in the leader official of their estate of republic. Governments will do whatever they think will benefit them the most. Tomorrow if banks all get together and decide that they would love to pressure the government to ban bitcoin and all crypto, then they will bribe all the corrupt politicians and we are going to see no crypto support from that government at all and even make it banned thing. This is why never put all of your trust towards any government or bank, they are only caring about what they make as a profit and nothing more. Things may look like it is regulated and doing great for the time being, but we have seen so many laws in all over the world that got overturned after a while. |
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The other day I heard sad news from my friend that he is borrowing from various sources from relatives and now cannot pay. Even though he has also been in this market for many years, I feel the temptation of money and wealth is scary. For many people, there is no end to the satisfaction with what they earn and then fall into financial debt. For me, the balance in life as well as investments requires thinking more carefully when you act. It will affect your life as well as your family's. Through that friend's story, I also hope many of us also need to re-evaluate what we are doing with this market.
That is a thing that many people do and I do not understand what the point of that is. I mean that is not really a terrible thing, but it is not an ideal situation neither. I have seen so many people who ended up doing such silly stuff. Even people who work in companies and responsible for the salaries of everyone and used that money for crypto and lose a bunch of money there and got fired and jailed for using companies’ money to do that. Moreover, I would say that the best thing for all of us would be to realize what we can do about this situation. The start is not doing it, but if we are going to get money from people we know, at least tell them that you may not be paying it back if it goes down. |
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Well I'm not trading when the market in this condition, but maybe for some people who are really the expert in trading still can make a lot of money when the bear market happens. I've heard that a guy who loses more than 50% recovers even if the market is in bear condition. Profit is not coming from bull or bear season but when you have a good strategy and your strategy is on point then profit will come to you.
That is the general population, you can see that from the volume as well, because it is not traded nearly as much as it used to be. That means that we are talking about a market where most people are trying to stay away from as much as they possibly can. This isn't going to change in a single day, but it will certainly be something that will last a while. People like you and me and many others will stay away from trading until it is a bit better. I still do investments, but that is different from trading, I buy and hold but I do not buy and sell right away, I am waiting for it to go towards 100k before I can even consider selling it, that is still valid for me. |
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i did not buy yesterday at 18k because of the crash , i was affraid it will go dow further quickly , was waiting to see if breaks the 17k-18k support . then its started bouncing , MACD indicating HUGE oversold trend , so i waited for it to confirm . From 17.8k to 19.5k , was a good bounce confirmation for me . (we are still at very low levels comparing to 69k , the futures shorts orders will close soon )
It makes sense, it is important that you have a plan and you know what you are doing, and if you invest in the long term (2-3 years) it will not matter so much whether you bought at $17 xxx, or $19 500. Now the question is how the situation will develop further, because as things stand now, the price is in the green and goes towards $21 000, although one should be careful not to fall into the trap. Technically speaking it would matter because the return would get greater. I mean someone who buys at 17k, would double it at 34k, whereas someone who buys at 19k would double in 38k, if you bought in 17k, by 38k you have extra 4k profit. If we look at "really long term", if it is 190k one day, someone who got at 17k would have a 20k profit. Obviously, this is not what we usually think, what we think is just making a profit, and I believe that if you treat bitcoin like a retirement fund, then you should be fine at all prices and you would not feel any trouble at all about this. It is going to be a tough thing for most people to accept, but it is going to be pretty fine in the long run if you profit. |
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Anything is possible, but be honest with yourself about the possibilities as well as the worst that could happen. I am not a big fan of short-term trends as our opinion of them will be different if we experience the benefits and risks they have experienced. After many years of accompanying this market, I see new projects appearing on the top list and maintaining it over time is not too much, although 2050 is the timeline many people here will be. I can't go through, but I'm not too vague about the prospect of being too far away from my present life and being honest with it. Profits will be realized later; only time will tell.
I do not know if I will be in crypto by the time 2050 comes, not that I am not saying I won't be alive, none of us could know that unless we are already on the veteran age side, but as for me, I will not be a weird number, I would be entering retirement by that age and I have to say whatever happens to crypto, after 2050 I won't care about it. I will just focus on whatever I can, just be an old person who likes to entertain the hobbies he has without worrying about money. This is why I am investing so heavily to crypto, but "shiba inu" is not one of them. By that time, it will still not be 5 bucks, because until then it will die somewhere from here to there. |
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Every time bitcoin falls too much, there will always be those expectations that it's going to be the end of it. Let's just stop thinking that when the bear comes or when a correction gets in, it's the end of bitcoin. It won't end and have been told to be dead so many times and it ain't dead and it won't be. It's here to stay and no matter how low it can be, there will always be takers that would want to have those cheap bitcoins that have been sold in the market. That's the reason why remove it on your minds about bitcoin being dead.
This kind of condition is actually still in the normal stage and when compared to 2018 of course at that time it was much worse, so as you said its better not to worry too much and think this is the end of Bitcoin, I'm sure it's only a matter of time and stay patient waiting for the bull market 2018 was basically the worst of any crypto period ever. Maybe on early days there could have been a bigger fall I do not know, but that wasn't just about the fall. There was literally hopes lost in people when it first happened and that's the biggest trouble. Just realize that what we are doing right now is much better because there are people with hope all around the world, back then it was literally hopeless situation. It took us years to get back because it took us years to trust that we could earn some more, and that is why we need to realize that it's not going to be that simple, it's going to take a long time to get back to a good price, but won't take as long as 2018 did. |
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As for the 200WMA, we have closed weeks below it numerous times, such as in late 2015 for mutiple weeks in a row as well as in 2020, so a single week close below doesn't confirm so much imo. However breaking the $17.5K, and continuing further down would likely confirm a true break of this support, but fortunately this has yet to happen. For reference sake it's only the 50 Month MA that price has never closed below.
I think that would be a bit difficult to break under 17.5k that quickly. I mean it's not impossible but for that to happen we need to really see it go down a lot more. The best thing for the time being is not to have hopes from the indicators but more like having a bit of trust in the system itself. That way we could be doing a lot better in the long run. Does it mean that we should remove indicators completely out of our lives? No of course not, just means we should not make predictions based solely on the indicators and what they are showing, sometimes other stuff could give you a lot better results as well and we could take a look at all of them. |
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I also have a lot of problems with this market manipulation by the big influencers in this market, not only for dogecoin but other things when someone says good or makes FUD about it. Although to be honest, Elon is funny when he talks about Dogecoin too much, and it is also an excuse for other bad guys to manipulate prices and negatively affect the market, creating trends that I find ridiculous. kid. But the person affected by the loss should also learn to blame themselves rather than blame others. When the decision is in your hands and you are taken advantage of, it is easy to blame.
I agree with you, I hate that these big names (and he has like 100 million followers so it matters) manipulating the market and that is a terrible thing. But the crypto world is not in the financial security of any specific nation, it is an independent thing. So, places like SEC can't say that he is doing manipulation, SEC can't sue you for manipulating Nigerian stock market for example, or like British stock market, those are out of their jurisdiction and they can't do anything about that. This is the same thing with crypto as well and it is not up to SEC to see if Elon manipulated or not, even if he did that doesn't say that he did the wrong or right thing. |
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