Right now, looking at the prevailing trend lines from this year it looks like Bitcoin won't even pass $10k until late June or sometime in July. So I think July or August is the most likely time that Bitcoin will last be under $10k.
It doesn't matter when it will happen. The only thing that matters is that it will happen, and make sure you enter the market before it happens. In other words, current levels form a great entry point. People quite often waste a lot time waiting and wondering what will happen, but they don't realize how much of a blessing current levels are. Buy when the mass thinks the market is going down, which is right now. Institutions like to make the mass believe that the opposite is happening, and when they don't expect it, the market will go up hard, and the same mass selling now will buy back at higher levels. Psychological manipulation. It works really well the market has proven.
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If Paypal supports bitcoin now, bitcoin will become a better currency.
Wrong. If PayPal supports Bitcoin, PayPal will become a better and more popular service. Bitcoin doesn't need PayPal. Coinbase can function as payment gateway without any problems, and can do exactly the same as PayPal is doing, especially if they become a bank themselves at some point. If Coinbase is being granted a banking license, PayPal can just suck it up and see how they have wasted a precious opportunity to enter a booming industry. EBay ditched them, and now they refuse to make up for that. This is exactly what's holding back similar financial services. They keep waiting till at some point they realize that they are too late to join the party. First mover advantage matters, and they put it to waste........
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I honestly don't see any connection to Bitcoin in this case, and if the prices of both responded similarly in some ways previously, it's likely coincidence. I might have missed something fundamentally, but that's my opinion.
PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.
I'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.
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but if blockchain analytics is catching up and getting more sophisticated, you'd think mixers would need to up their pace to stay ahead.
Definitely, but that applies to ChipMixer as well. It's fairly easy to locate and monitor the fixed chip values, and from there I hope that eventually the chip values will change from time to time to become less common. Or maybe that we can initiate a mixing session and request a custom chip value to obtain a bit more randomness. But as we speak, the only mixing service I have confidence in is ChipMixer. Obviously, there is a bias from my side because I wear their signature, but it doesn't happen very often that people wear a signature from a service they are actually using and genuinely like. Bitmixer fits in there as well. In most cases people are only interested in the payments and they don't care what they advertise for, but I am happy that I can promote a service offering a fundamental necessity for the community. Privacy is precious.
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once 6K is broken (which looks likely now), next will be around 3K.
It doesn't look all that likely for the $6000 mark to break. After that we have a very strong base foundation above $5000 that will only break if the demand has plummeted to the bottom, which is unlikely. It however does feel good to have fiat ready that I can use whenever I want. That's the direct advantage of buying smaller quantities per time, which if you distribute your funds properly, will allow you to buy the bottom. My current buying schedule: $7000-$6500 15% of my current capital. $6500-$6000 15% of my current capital. (reaching these levels is the most realistic scenario I can think of right now). $6000-$5500 20% of my current capital. $5500-$5000 30% of my current capital. $5000-$4500 20% of my current capital.
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Whoever they are behind this, they started to took profit and we'll just do the same thing of buying again when it's enough for the price to buy back.
I do so too. External manipulation doesn't necessarily have to be a bad thing because of how we can take advantage of it as well. It's like they do the work for us, and we just ride the market how it comes. I can definitely understand that people get upset about current market, but that's what they bought themselves into, so it's up to them to conduct proper research before blindly putting money into something. Concerning the current manipulation, I observed very suspicious activity during massive on-exchange dumps and large short positions on BitMex just before that. If it happens nearly every time, it's no longer coincidence. It could allow you to do the same, but I am not into that sort of 'luck based' trading. I am not here to book quick gains.
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South Korea has been flirting with banning cryptocurrency trading for some time now. However, now it appears the country is backtracking. Bloomberg reports that South Korea's regulators have indicated that they will continue to support "normal" trading of the cryptocurrency.
South Korea has never been flirting with a crypto trading ban. It were corrupt government officials who tried to gain advantage of their authoritative positions by shaking up the market. It was pure insider trading. The thing after that was that all South Korean government officials were prohibited from owning any crypto currencies, which makes sense after everything that happened. It once again shows that manipulation isn't just happening by actively dumping or pumping the market, but also by using (abusing is a better term) high level positions. JPMorgan's Jamie Dimon did the same thing.
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Might bitmixer.io have been involved in this? Their exit from the cryptospace was very perplexing. The owner's final message also sounded like someone was pointing a gun on his head. It was the first and most common observation in the forum.
Not intentionally if so. In the end every possible service being liquid enough could be used to get rid of tainted coins with how regulations we're pretty much nonexistent by that time. It involves so many coins, where back in the days the market was also a lot smaller, that we all (earlier Bitcoiners) may have contributed to complete distribution of the Gox coins. I am sure that the authorities know that innocent people hold a lot of these tainted coins, but what is there that they can do about it? You can't just seize everyone's coins because they are tainted. It's safe to say that the MtGox collapse is the best ever planned and carried out theft in the crypto space.
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Whatever it is that's pushing the price down, Tom Lee doesn't have that many credits left when it comes to his predictions. He keeps going on till he's right at some point and brag about how he was right.
If we look at some of the main points of the market in the last months, then aside from the correction that was due, we're experiencing a lower overall demand combined with range manipulation by whales.
Regulatory pressure is always an easy external force to blame. People should accept the current market, and just have peace with it. It's pointless to be overly bullish while the situation just isn't reflecting that sentiment.
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It's true the support is terrible but frankly, how many exchanges have good support? I got my questions answered almost 60 days after the request is sent - and for some of them I never get any answer. I personally spread my tokens across 6 exchanges to mitigate any such risk.
In most cases all exchanges are equally as bad, but the main factor is also the nature of your complaint and what balance you are holding there. It shouldn't matter in a perfect world, but exchanges do filter based on that. The lower the reply to reward ratio is of your complaint, the longer it will take to get a response from them. Some exchanges are worse than others in that aspect, but the fact is that it shouldn't happen. I must however add that tokens are a plague to this ecosystem with all their problems. The majority of the complaints have to do with tokens, which says enough for me. The situation will only improve when the ICO hype ends.
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Bitcoin according to traditional market standards will always remain a bubble, especially when you also take into consideration that ignorant bastards think it has zero value and thus should be worthless by default.
The more people speak of Bitcoin as being a bubble and not contain any value, the more confident I am that their ignorant nature will eventually result in a very bad ending for them, to use Warren Buffett's words.
The world is changing. Traditional market standards don't matter anymore as much as they used to matter years and years ago, but the old school investors have enjoyed a completely different form of education, so they don't realize it.
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I think your premonition came true today. Where it goes from here is anyone's guess....
It wasn't rocket science anyway, so it doesn't hold much value. After having failed to breach the $10,000 mark it was clear that there were only two possible options that could follow. First option is that it will reload and attempt another breach some days later, where the second option is the disappointment of traders not booking the gains they were desperately hoping to book. In both cases there is disappointment that the market has to go through, and exactly that disappointment forms a perfect tool for whales to push the market down in order to shake off weak hands. As long as the bottom holds there is nothing to worry about. Whales won't break their own field.
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MT.Gox funds status according to some tracker it's not moving so it means that there is another reason why the price decreasing and maybe there are groups of dumpers is trying to sell their bitcoin to push other holders to panic sell.
MtGox has likely never even affected the market noticeably. It's just that people make a big deal out of it, where admittedly, I was one of them as well, but that stopped after they obtained enough fiat to cover the debt. Having enough fiat means that there is no reason why more coins should be sold, and for that reason it's not happening (at least not through exchanges). As always it's the speculation making it more of a problem than it is. The larger dumps I observe aren't panic dumps, but more well timed dumps coordinated by a group of whales teaming up. In other words, I do believe that there is some manipulation happening right now. It may have been manipulation on the way up, and now they steer the market back down.
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At some point in the future, these cases won't even make it to the news anymore. We get it, these things happen and it once again shows that Bitcoin isn't the superior criminal tool the media thinks it is.
There are far better crypto alternatives to do the job (obviously not stimulating anyone to use them for criminal activity), but not everyone has figured that out yet. I am however glad that this criminal has been arrested.
It's the job of the authorities to go after these people, just like how it's their job to do so when it involves fiat. Stop wasting time blaming Bitcoin, but actually invest time in getting these criminals behind bars.
Bitcoin is nothing more than a tool. People abuse it.
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No mention of Gox yet? That's the mystery that really intrigues me. Incredible that after all this time so little is still known about it.
It was set up in such a way, almost perfectly done, that there isn't anything other than trail taint they can follow. In reality, we all have likely been distributing tainted Gox coins, so how exactly can you prove that they are one of the masterminds behind the theft? BTC-E, Bitstamp, Bitfinex, they all are in a similar situation. The only difference is that BTC-E has always been more open and free for people to sign up and use it solely as mixer. The only limitation was that you can only withdraw 100BTC per day. That's something you can easily bypass by dumping BTC for LTC and other coins to withdraw them all simultaneously. I think BTC-E can use that as a powerful shield to defend itself. In the end, there is no real proof.
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it's not about trust, or luck, just like many people said in here before, it is about skills and market knowledge, you can not expect to make huge gains only by having trust on yourself, that is shit and no one can do that
Market knowledge isn't always a helping factor, especially when you take into consideration that the market with all its variables is very unreliable by nature. In the end it requires a combination of everything to profit. Trust by default is worthless, so that should never even be mentioned when the subject is trading. Luck is actually a significant factor, and it gains even more significance when you are heavily into day trading. If skills and knowledge were the sole leading factors, this market would be easy to profit from for the majority of the traders, but that's not the case. The unpredictability of this market can't be beaten with skills and knowledge.
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It hopefully will function as benchmark for other financial institutions to do the same. Currently they are still trying to prevent Bitcoin from gaining ground, especially within their industry, but resistance will prove to be pointless.
Eventually the main goal will be that financial institutions allow these transactions to be initiated from within their own platform rather than to rely on external parties. This is probably going to require proper regulations.
It's mind boggling how Bitcoin in its entirety has managed to grow this large within such a short period of time. Financial institutions labelled Bitcoin as fraud in the beginning, and now they are using it, how ironic.
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it could actually break out to bull trend after we seesaw who knows maybe finally a big news will come.
I honestly can't think of any news being able to motivate the market to move up beyond its current major resistance levels. If the market makes a big move up, it will be completely unexpected that can't be linked to anything. Currently we're approaching the $8000 mark again, so let's see if we can bounce back up like how we did it a few days ago. I am not that deeply involved in TA, but the charts don't look good if it drops below the $7800 mark. It's great obviously if you plan to buy the dip like me, but it's not going to help when it comes to the overall sentiment that will dip alongside the price. It may even result in a situation where sub $7000 prices will return.
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in fact the US dollar has been printed massively and the only reason it's not going down dramatically compared to other currencies is because other currencies have been printed in an even more massive way.
The main reason the mass printing isn't severely effecting economies is that the US dollar is a base currency, just like what Bitcoin is in the crypto market. That significance is giving the US dollar a great deal of value. It's enough to somewhat undo the damage of mass printing, and that's all because of how governments around the world consider the US dollar to be worthy of being a base currency. Basically everything in the world is tied to that currency. If the US dollar didn't had that global backing, things would be completely different and the US economy would likely have imploded already. We gave the US dollar that value.
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The best is for everyone to be ready to key in this, rather looking for ways to criticize and pull it down without even giving it a chance to prove itself.
The problem isn't really LN, but the general idea that Bitcoin makes a step forward towards mass adoption. Some people just can't and don't want to see Bitcoin progress and become a mainstream instrument. After LN we'll have other implementations that people will jump on and try to talk down on it. I'm used to how everything goes and can only laugh at how desperate these attempts to tarnish Bitcoin are. I'm sure that even when Bitcoin has surpassed gold and does everything better in all aspects, there still will be skeptics trying to talk it down. Just let it go. Some people just can't be pleased, regardless of what you show them.
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