I'm not in a position where there is much of important nature to buy with Bitcoin, which basically forces me to still conduct all my day to day transactions with fiat as basis.

I will start spending my coins once there are local merchants accepting Bitcoin, and till that time there is nothing to use other than fiat. On the other hand, there is not much to rush for since fiat is doing well enough.

People can say all they want, but it's impossible to have crypto compete with the convenience and usability of fiat, and it will take a lot to change that. Centralized platforms scale easier and faster than decentralized ones.

I hope that Lightning Network will close that massive gap.

Nothing is confirmed until it's confirmed.

It's important to let the market bottom out where it ends up bottoming out, which can take a month or two, but also a year. This market is perfect for long term accumulation, and I am making the most of it.

Dollar cost averaging on the way down will really help people forward, and it requires practically no market understanding since every rookie can do it and eventually buy the bottom.

Interesting is the fact that while the movements have been quite significant in the last few days, the volumes are still not convincing. The only exchange showing consistent and high volumes is Binance.

I bought just under the $6300 mark and I seriously don't care if it drops more. I just couldn't resist current prices anymore and had to act. If it drops down more I'll prepare my next buy and then the next.

It's pointless to keep waiting for a decline that may not happen, so the best thing is to act when you have the opportunity in your favor. People waiting for lower lows might be shooting themselves in the foot.

If you wait you will be able (if you are lucky) to buy 5-10% under current levels, which is nothing if you invest for the long term. Don't put all your money in yet, just a fraction, but definitely pull the trigger.

What you say is a possibility, but just unlikely to happen on a large scale. It also doesn't last as we have seen. Don't forget that the more professional the parties involved in Bitcoin are, the more strategic planning is involved.

If we look at why these crazy bull runs are separated by years, it becomes clear that accumulation is a very slow process in a market significantly lacking liquidity in all aspects.

Whales will only buy up the market with confidence if they have a significant number of coins already, which should make sense. Currently we're back at the initial accumulation phase, and we don't know how long it will take.

If people keep focusing on nonsensical reasons of why the price might have gone down, they will not understand the actual reason for this longer term decline. Stop being so ignorant.

The market is going down because there is more circulating supply than demand, and this process might take several months to take care of itself. I don't think we'll be seeing anything below the $6000 mark though.

If the demand can't even sustain the $6000 mark, then know that what we went through last year, will partly undo itself this year. It's actually very similar to how the situation was last year, but then in a different direction.

It's a reverse pump.

You can't stop people from using their credit card to withdraw a certain amount from an ATM and have it invested in crypto via an alternative route. It only requires one or two extra steps.

It's a desperate attempt to slow down crypto's growth. On the other hand, it might also be that banks do this for themselves. They are late to the party, so they have to sneak their way in without paying top dollar prices.

Banks have never feared to use their central position in the market against the average person. The only thing they care about is boosting their net income to please shareholders.

That directly explains why long term hodlers have massively started with liquidating a certain part of their extremely overpriced coins. These hodlers are slowly accumulating while the price keeps touching lower lows.

Result is that they increase their holdings and become more wealthy when the next bull run kicks in, where they then simply repeat everything. I can only have respect for everyone doing this.

Noobies buy your coins for $18,000 and sell them back to you for $7000. If that isn't enough incentive to hodl to the next bull run then I don't know what is. The average person doesn't stand a chance in this market.

Satoshi isn't the main developer. It's not meant to disrespect him, but aside from his financial influence on this market due to his coins, he is a nobody now and will stay that for ever.

He isn't and won't ever be able to contribute to Bitcoin again. Even if someone proves to have access to the address containing the legacy block reward, there is no way to prove it is actually Satoshi.

In other words, even the real Satoshi can't prove that he is actually the real Satoshi. This is exactly what gives Bitcoin its power. There is no main developer. Satoshi did the right thing to leave early on.

Something fishy is happening at BitMEX and I think they know that. They even have a research department providing analysis of everything related to crypto, but they refuse to research their own role in this market.

The lack of volatility is compensated by exploiting BitMEXs sleek tools. It's almost like free Bitcoin that whales are generating like this, which directly makes me wonder how deep BitMEXs coin reserves are.

How obvious do regulators need manipulation to be? Large sales followed up with gold like stability. If the market climbs up to $7000 it will stay there as long as these whales want it to stay there.

That's not true. All countries you listed require people to at least pay tax over their crypto capital gains, and depending on the country there are more cases where you are subject to taxation.

Japan can be seen as the most friendly Bitcoin country in the world, but they are the worst when it comes to capital gains. If you are a high gainer and fit in the highest tax bracket, you will face a hefty 55% tax rate.

I don't know why people think Bitcoin being legal or not legal grants you the freedom to not pay tax. It doesn't work like that. If anyone has paid tax before it should be clear, so these people likely haven't paid any tax before.

It largely depends on the coins that you are using. If you stick to the top coins in this market, which generally have stable networks, there is less for you to potentially experience problems with.

The same basically applies to HitBTC and Yobit. If you look at the majority of the complaints, it always concerns shitty coins and tokens. These exchanges should be used as dump exchanges only.

Top tier exchanges mostly have strict AML/KYC rules to abide by, which is causing the problems for people, and not so much the regular problems Hitbtc and the rest seem to suffer from.

Applying basic TA points out that we are in a very important phase right now. There isn't much room anymore within the main triangle, which means either an upper or lower breakout can be expected.

I expect a range within $6000-$7000 to form and remain up for at least a day or two, but I am confident in the $6000 mark to hold. We'll see how my confidence gets trashed or holds through as per my expectations.

If $6000 doesn't hold then everything below that mark can be seen as a solid buy.

It largely depends on the current economy. The more the economy messes up, the more incentive there is for capital to be parked in Bitcoin. In other words, the downfall of the global system is Bitcoin's gain.

It's pointless to throw around with numbers as to what the price will be. If there weren't any problems in the world, banks were fair, governments were fair, Bitcoin would be close to worthless or never even invented.

It will likely follow gold's patterns in the very long term. If gold's market cap remains $8 trillion, then it means Bitcoin needs to be worth $380,000 to have a similar market cap. It's not entirely impossible to be honest.

Bitcoin is more versatile than gold in almost every way. More versatility means more uses and more uses means more utility value.

It's impossible to exactly figure out since we depend on third party information sources, only because energy suppliers won't ever want to be associated with this form of environmental 'destruction', as some people like to call it.

There are several aspects of energy waste that are being calculated, but if you Google energy waste, some articles point out that there is more energy waste in the world than usage. If this is real, then it's pretty shocking.

If we purely focus on energy suppliers, then it's probably safe to say that at least 10% of the energy is wasted before it even reaches its destination. That alone is a pretty significant percentage already.

Don't forget that our electronic hardware at home is wasting energy as well, even when they are turned off.

Nah, it's just whale manipulation as always. It would be quite pathetic if a hack in Asia, which isn't even that severe, will cause the global market to plummet. This isn't 2014 anymore.

I am quite sure that whales will accumulate sub $7000 coins before they lift the market back up to repeat the cycle. They did it before where they kept the price below $7000 even when the market wanted to go up.

Good news is that we can take advantage of these lower prices as well. So yes, accumulate as many coins as possible. I don't see any reason for the $6000 bottom to break, so we know the range will be $6000-$7000.

The tool isn't the problem, but people are as always. The average joes are horrible when it comes to being productive and have that work for them in the way that it helps them increase their wealth gradually.

Crypto is for them a way to compensate for how they never managed to reach a state in their life that would allow them to become successful and wealthy. It's like a poor man's way of trying to become wealthy.

It perfectly explains why the average joes are going nuts on crypto, and then mainly the lower tier coins. These coins pump or dump hard, which is why they go for it. 5% of them hit the jackpot, and 95% loses everything.

It perfectly shows that it all comes down to how many equal minded entities there are in a certain market, which definitely applies to forex and to a tiny lower degree stock markets.

I must however point out that currently there isn't all that much fud and fomo going on in the crypto space, which means that it will allow TA to become a useful indicator, and the firm range pretty much confirms that.

There are less noobs trading right now, and less noobs dumping for no reason. I like how calm this market is and hope that it will last for a longer while. Sending $100 worth of Bitcoin today means it is still $100 next week.

How can someone dislike that?

Don't let yourself get used to empty predictions. It seems to be a hype where everyone feels the need to outbid other predictions by expecting even higher levels before the end of the year, but it's all nonsense.

What we see happen is that most of these predictions are being lowered after a while, all to make sure they will be closer to the reality with their predictions. So called experts don't know more or less than we do.

The market does the opposite of what people think it will do. Once all these predictions slow down an lower themselves significantly, the market will move up. That's the way it works here.

Retail bubbles will soon look like peanuts when institutions create their crypto bubbles. I think that the input of retailers will hold importance for a few more years before it's largely done and over.

The only thing that I can see happen is that utility platforms will significantly contribute to that market cap when we are 5-10 years away from now. The further we go in time, the more advanced the usage becomes.

Ethereum is such a utility platform, but I don't think it will manage to hold its position as dominant player in that industry. I am looking forward to the battle between Ethereum and EOS.

If EOS ends up pumping hard, it will be done with funds coming from Ethereum's ecosystem.

If governments stopped being utter hypocrites, and acknowledge how damaging losses of unused power are on a global scale, they would be happy with how Bitcoin avoids billions worth of energy waste every year.

Miners would glady consume energy waste, especially if it's priced way below regular rates. It's either losing money on this energy waste or making a decent buck out of it. I would definitely know what to do in that case.

It would be extremely funny but also interesting when power suppliers start up their own mining farms. What other profitable way is there to follow if they don't pass it to miners? Energy waste becomes big business.