i completely agree with the first part. i also don't want ETF to be the "bull trigger" and unfortunately people keep on hyping it up but in reality ETF means nothing for bitcoin. I just don't think it is payments right now. We have alot of credit cards, bank cards, qr codes and online banking apps that are fast, instant and/or free.
but i disagree with this part. all the things you named are centralized while bitcoin is uniquely decentralized and that puts it apart from all of them. and that is the "killer app" that bitcoin has and has been increasing its price so far.
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you are asking about adoption not production of something. when you are producing something you can get an ETA for when it will be done but when you are talking about when people are going to decide to use that thing it will become impossible to do because you can not predict what people are going to do.
and it is not just that, there is a lot of other factors to consider too. and people also are affected by that factors. for example the fact that bitcoin price is still pretty volatile which makes the incentive so that people hold it instead of spending it. and altcoins are super volatile and highly risky which makes people not even think about spending them.
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the price of bitcoin has dropped to the price of $ 7200, it is very likely that the price of bitcoin will continue to fall until the price of bitcoin falls below $ 7000. But I hope that will not happen.
why is it likely? that is the important part where you failed to explain. just like back a couple of days ago during the rise, this is the same. just because price moved a little bit in a certain direction it doesn't mean it will continue fast and big in that direction. as i said before just because it went to $8k it doesn't mean it will go to $50k this fast.
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Believe it or not the price decrease of Bitcoin is more technical in nature rather than anything related in the news as of lately. In the past week or so we saw how Bitcoin had rallied back up above the 8,000$ level, at first we thought that it is all good but what a lot of cautious traders see is a price rally without any volume backing it up which means that the price increase is not healthy and BTC going back below 8,000$ is an inevitable thing to happen.
no it has nothing to do with anything technical. and it also has nothing to do with "cautious traders". it is all about the hype and it being a fake hype. the rise was about to happen when everyone started making it about ETF then as SEC started to reject them one by one they started losing that hype and selling. this will also go away and we will be back on track with the rise soon.
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both can be good as long as you know how to steer in the market in a way to make profit. for example in a bull market you need to be able to get in before the price reaches the top and sell be fore it starts its correction. then on a bear market the reverse of the same thing but also there is margin trading for that. in the end it will come down to your experience and willingness to try some strategies.
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There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it.
WHAT? almost all the newbies are looking at what coinmarketcap calls "bitcoin dominance" and it is completely meaningless because it does NOT represent bitcoin's dominance. it is only representing bitcoin's market cap (a false characteristic imported from stocks market) with the total market cap of 1500-1600 altcoins. From all indication, it could hit above 50%, even 60%.
no bitcoin dominance will remain near 100% as it has always been there and will be for the foreseeable future. but the bitcoin market cap divided by the total market cap will continue to go down as new shitcoins with huge supplies are released.
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Rootstock is an open source project working on top of bitcoin as a side chain. you can see the source code and everything about it here: https://github.com/RSKSmartbeing trusted or not should not depend on who is developing and what partners something has. it should be about the code and what it does! and this is not just about Rootstock but it is true about everything else including bitcoin itself. Don't you think that could be said about Btrash too? I believe they are open source as well but that doesn't mean much with the people behind it. that's the whole point. the people behind something should not matter at all. the "thing" itself should matter. in other words you should not be against bitcoin-cash because X and Y are supporting it and you don't like X and Y. or worst of all you shouldn't be against it just because others are against it. you should be against it after you understood what they changed and what the benefits or downsides of that change was, look at the network and see how centralized or decentralized it is, and a lot of other things and then decide whether you want to be against it or not.
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cryptocurrency in general can turn into a Tulip mania bubble thing because in case of an economic crisis there will be a rush to buy them and since there is a lot of them (practically an unlimited number of altcoins) they will be in real big bubbles which will burst and damage the whole economy in general too! and it can even make things worse.
on the other hand things such as Gold and Bitcoin will shine in this situation because of their scarcity and security. specifically bitcoin because you won't have to rely on anyone for holding the gold you buy and storing bitcoin is easier and safer than storing gold! people would choose the easier and safer option meaning bitcoin and it can turn into their haven which has happened to some extent in the past too.
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i feel like i live in a different world after reading this topic. suffice it to say that it is not a developed country and the inflation rate is high! Who is going to live in your apartment when everyone around you starts to own a spare one? There's not enough people coming to towns to satisfy the market.
not everyone is going to buy real estate and there will always be people who want to buy it so there is always demand and there will always be others who want to rent. it also depends on where the real estate is. for instance in big cities and capitals there is always going to be a demand and increase of real estate prices. there is also the case of Up and Coming Neighborhoods. it is an investment after all and you always want to invest in something that has a potential of rise or is already rising instead of buying something that might rise or not! it is like buying altcoins, you don't want to buy some altcoins that is already big and pumped. you buy an altcoin that has not yet been pumped and is starting to get hyped up. new ones are cheaper than the old ones. Why?
i have seen cases of houses that were old but more expensive but that was because of the location of them and the demand for that location but generally speaking the new ones, specially the brand new ones that nobody has been in yet is always higher.
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i think it depends on the person itself and also on how you've gotten that money. some people have that characteristic of being lazy. it is in their nature and becoming rich out of nowhere would push them towards that too. but some others are not. if you give an active person money enough to make him rich he will still remain active.
as for the way you get that money, coming into a large amount of money would be a shock that some people may not handle. for example someone who has worked hard all of his life suddenly becomes a millionaire (inheritance or lottery,...) they wouldn't know what to do with their lives anymore since all they knew was work, work, work.
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we had something very similar to this last year too. there was a period of time where ETF was getting hyped up a lot (it was Winkle bros ETF!) and we even had a rise and everyone was basically making the same prediction that with ETF= moon and without ETF= dump back to $900.
and you know what happened! SEC rejected their ETF and we saw a small drop then a couple of days later as the drama vanished we started seeing the rise begin again!
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The market is really sensitive to these ETF news now, so the current price moves shouldn't be surprising. The media have convinced noobs that we'll have a new bull run this year fueled by ETF approval, so speculators are selling every time an ETF gets rejected. I'm going to trade with small amounts just for fun and to test my skills, so far I've sold a bit at $8,300 and planning to rebuy at below $7,000.
So, plan short-term profit trading could be safe option for now, isn't. With price now below $8k, many people should be ready to take buy position before price bounce back, ETH affect always being media consumption that makes market react fast. you mean ETF not ETH! and i don't know there is still a chance that by the deadline of this hyped up ETF we see a drop and up until that point we may see a lot of different things inclucing a big rise. if you aren't already in then maybe it is best to wait because this is one of those times when market is mostly unpredictable.
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In my opinion, now, due to the fact that the rate BTC is falling, the growth of investment in bitcoin has slowed. But already in terms of circulation this cryptocurrency is included in the TOP 5 world currencies.
Well honestly that number might be too low but if you will analyze deeper then you will realize that the number is still good. We all know that bitcoin is still developing so having a trust from 2% of americans is already a good number to start. I hope that time will come for that number to rise and get high. It would be awesome to have many americans in this system. i'd say it is at least twice the amount that it should be. meaning below 1% and unlike what these news sites keep saying, it is not 2% of Americans nor American investors. it is 2% of a small group that they chose from. read Franky's comment above. it is their group that is mostly interested in bitcoin in my opinion. and the real number of bitcoin investors is a lot less than that which is clearly seen on the low price of bitcoin!
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This is the proof that bitcoin will not fall in price, but only go up. The number of bitcoins are constant, and those who want to buy more and more.
first of all you just bumped a very old topic. and secondly how is that proof of never falling?! how much bitcoin is mined so far is only shows the supply of bitcoin and the fact that bitcoin has lived strongly for about 9 years. other than that it doesn't prove anything about the price. that requires "demand" to increase which happens that it is increasing but you can't make that conclusion based on this topic!
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it is important to know FUD that when some untrusted source talks about "bitcoin ban" your first assumption should always be that they are lying to you and it is always correct. the fact is only one or two countries like Bangladesh has already banned bitcoin and the rest of the countries in the world (99%) have not done anything like that. your Indonesian case is a clear case of FUD.
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22000 is the zoomed out, aggregated result of many buy orders not just one so you can not call it a "wall" exactly. people aren't placing orders with $10 steps.
the real order is about 400-500BTC which is still pretty huge. and it was pulled. since this was just on bitfinex and nowhere else, i wouldn't really put too much thought into it because even if you manage to manipulate the price in one exchange, the others would go the other way and crush you while arbitrage traders eat through any size of wall if a difference is shaped.
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unfortunately for these people, investing in altcoins is not diversification. it is taking bigger risks for smaller rewards. a real diversification of your money is what you are doing which is basically investing in other markets like stocks market as the alternative.
altcoins, from what i have seen so far, are only good for day traders and pumpers. otherwise it is not such a good investment to go in an altcoin, specifically the ICO tokens which have no future.
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all these speculations are correct but why now? it is way too soon to talk about the halving which is not going to happen for another 2 years (in 2020) and until then we are going to have a lot of changes in the market. i will grow a lot by then. we may be at $500k and the market may be big enough so that things like halving doesn't cause big rises anymore.
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based on what i have seen in 2+ years of being with bitcoin and mostly on this forum and reddit i have to say this percentage is upside down. in other words 80% or even more of what you read on the forums are wrong. and when you are just analyzing them for statistics like this article you have no way of distinguishing trolls from FUDsters and real speculators and the forum is filled with them.
as a very recent example you can check the comments during June, if the 80% accuracy were real then price should have dropped below $6k and remained there probably around $3k that a lot of people were advertising for!
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Rootstock is an open source project working on top of bitcoin as a side chain. you can see the source code and everything about it here: https://github.com/RSKSmartbeing trusted or not should not depend on who is developing and what partners something has. it should be about the code and what it does! and this is not just about Rootstock but it is true about everything else including bitcoin itself.
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