It shouldn't dip below these levels since they represent bottom on top of another bottom. If it would get broken through then it will indicate that the demand as a whole has significantly decreased.

I am however glad that it's not like that and find it even more of a confidence boost that bottom formations didn't break throughout the last years. It's not for nothing that the correction stopped around the $6000 mark.

Bitcoin will keep growing, but the main point is that people shouldn't expect bull runs or a revisit of all time high levels. There are different market phases all serving their own purpose.

People should learn to accept and respect that even Bitcoin isn't a straight rocket to the moon.

If people think this is bad, then look at how the market will turn into one heck of a regulated legal circus.

Governments and their regulations while in some cases are helpful if fairly implemented, are an absolute plague to a free and healthy market development. It's perfectly showing how nervous the current system is.

Funny is that I can buy as many precious metals from whatever site as I want, and that without sharing any details aside from shipping information of course. It's solely meant to slow down crypto.

I can also start trading stocks and securities without verification, so the risks and financing of terrorism authorities always point to as being the reason is just nonsense. Just say it, you are afraid of crypto. 

The far majority of the hacks and similar acts of fraud remain unpunished, and it will stay like that for ever. It's always the smaller fishes that end up like this, which is a good thing of course, but doesn't solve much.

The big boys with their hacks involving many millions remain free and unharmed and for that reason can keep doing what they are doing unfortunately. The smartest remain free, that's the whole point.

If you somehow end up like the hacker this article is pointing at, you made a mistake and got busted because of your own incompetence. Just look at all the exchanges that got hacked, nothing has ever been solved.

Not even inside theft has been subject to discussion with how there wasn't any trail left behind.

It has been like that years ago, and it's still like that today.

Charlie munger years ago said that Bitcoin was rat poison, and then he updated his statement to match current prices, he said that it's more expensive rat poison now, which is actually a very good joke (while it's not a joke).

I wonder what he will consider Bitcoin to be once it smashes through the $100,000 mark. He definitely has to come up with something different than *even more expensive rat poison*.

On the other hand, it may very well be that he won't ever be seeing Bitcoin reach $100,000 in the coming years. He's 94 years of age and still thinks he's needed in a time where his input is no longer unbiased.

I get it that one doesn't have to like something that others do like, but just keep your mouth shut. Calling it names while Bitcoin keeps growing only makes him look worse. It has an opposite effect.

The thing with endless money printing is that governments can basically keep stretching (delaying) the destructive effects, but eventually the system will implode where the entire world economy will suffer badly.

It's not for nothing that those who are smart enough use gold as preferred hedge. In recent years Bitcoin has been gaining importance as hedge as well, and that awareness will only keep increasing.

Physical gold requires people to store it in a bank's safe deposit box, which in some cases applies to paper gold as well, and so do I think Bitcoin will end up like that ~ people just don't feel comfortable holding that much wealth.

It definitely wouldn't surprise me. I know people who store their hardware wallets in safe deposit box, which is definitely a no go for someone like me.

That, and the far majority of the minted coins won't even end up being sold on the regular market at all.

In case of the largest farms generating the most value out of their efforts, they very likely sell coins outside the regular market when needed or when they accumulated enough coins to fill high value orders.

If there is one thing miners want to prevent, then it's their supply affecting the exchange rate. The smaller miners liquidating their holdings are too insignificant to even dent the market.

Once the block halving has done its work miners will form even less of a problem, especially when you calculate forward how this market will attract more capital. It will only further solidify the market.

I doubt the market has been going down because of this. Sure, it's a decent sum of coins, but the reaction of the market has been too extreme to be related to just over 8000 coins.

I absolutely dislike the way the shitty news sources try to cause panic in the market while they have no idea what happened with the coins. Some times I do feel bad for newbies who freshly joined the market.

They have somewhat of an authorative position in this market as news source, but have no problems misleading people with click-bait articles containing nothing useful. It's only their revenue they care about, and it shows.

People don't want to be responsible for that. It's not for nothing that they prefer to use online wallet platforms. Soon every platform will offer people to 'securely' store their funds offline like what Xapo is doing.

It has become so popular, that Xapo holds $10 billion in Bitcoin in its vault. It's mind boggling that one service holds that many client funds, and that while it was heavily losing market share in its own core business activity.

I will never ever allow any central party to hold any of my coins. It just feels wrong and I wouldn't be able to sleep well thinking about all possible scenarios of what could potentially happen in case of a hack or inside theft.

It's not even a 10% drop, so there is really not that much going on. For that reason it's quite funny when the price goes up like 10% people don't find it interesting, but when it falls 10%, they start freaking out.

Get your shit together and hodl through. It's normal for these price swings to happen, especially with how thin the market is. It only requires one relatively smaller dump to push the market down.

If the price falls down closer to the $8000 mark, which might not even happen at all, I will probably start buying some extra coins. The price broke through my buying range too soon, so this could be an opportunity for me.

It is whatever you want to call it. It really doesn't matter since it's different for each person individually. Trading is an investment on its own, and an investment is also trading. The only difference is the time involved.

At the end of the day, the purpose remains exactly the same, which is to buy at a certain price level, and sell higher. It can be one minute after buying, one hour, one week, and the list goes on.

The name of your actions isn't important, the profits they generate are. In the same way, Bitcoin's name (currency, asset, commodity) doesn't matter either (aside from tax purposes), the use it enjoys matters.

The worst thing in this case is that their support team isn't capable of actually solving people's issues when it comes to approving pending withdrawals. It's something only the operator can do for (likely) security reasons.

Everything related to withdrawals and other important things have to be forwarded to the operator to actually pull the trigger, and that we know can take an awful lot of time. Patience is the only option unfortunately.

Regular support is only allowed to provide informational support, which isn't helpful at all in these cases and only slows things down unnecessarily. Smaller exchanges always struggle with paranoid operators.

Yobit fits in that category as well.

Exactly. I don't understand why people keep focusing on banks or fiat to be replaced, while it's not entirely possible in the first place, and it's not even needed. Bitcoin is here to serve people, and nothing will change in that regard.

People always try to come up with things Bitcoin needs to do, while it doesn't even make sense mostly. Bitcoin is nothing more than a layer that works on top of the current financial system, but completely independent.

It's a powerful tool allowing people to obtain the financial freedom they always wanted to have, but were never allowed to have. Bitcoin changed that years ago, but some people still haven't realized that. They will eventually.

Same here. I stopped making use of hardware wallets as long term cold solution too because of how many times they have to patch potential vulnerabilities. I am full in paper wallets right now, and it feels amazing.

I don't depend on any piece of hardware and I don't depend on anything centralized. It's just me and my private keys, and that's the only thing that matters. I just need to find something more durable instead of paper.

I was thinking about a hard piece of platic having my private keys engraved. Or maybe precious metals for even more durability. I need to figure out what's the best option since I want to do it myself. I'm too paranoid to let an external party do it.

I find it pretty ironic that the upcoming elite is teaching the old elite how things should be done, and that while they very well know how to use futures or options to short Bitcoin and basically the entire crypto market.

I hope the one leading the next interview with Bill Gates to remind him of how he can actually short Bitcoin, and actually pressure him to say something about it. I would love to see what Bill's response to that is.

I'm quite sure that within 10 years the wealthiest individuals are no longer the basic billionaires that kept ruling the top lists for years, but will consist of crypto multi billionaires as well. It's only a matter of time.

Not sure if Warren Buffett and Munger will ever get to see that happen. Maybe it's better for them not to.

I agree. In recent times we had a massive influx of these news articles where banks and hedge funds plan all kinds of things, while in reality it's nothing more than a thought they are working on, or think to go work on later.

That being said, everything is better than the loads of fud and negativity we have been dealing with for months. Every bit of positivity helps increasing the sentiment, and that might guide us through the $10,000 mark soon.

By the time they are actually working on it and nearing completion, I just hope that the regulatory framework will allow them to launch their services. Regulators are incredibly slow with catching up on crypto, that we know.

We'll see what happens. I'm still waiting for the first ETF.

I am also still waiting for the collapse of the US Dollar that was due years ago already if we had to believe so called experts. In the same fashion there are many other events they failed to predict correctly.

If these experts don't even know how to predict their own market, how on earth do they think to know something about crypto? They are just trying to gain popularity by surfing the crypto waves, and they suck at it.

Bitcoin wasn't a good buy at $100, wasn't a good buy at $500, etc. People kept ignoring Bitcoin for quite a long time because of that, and they last year realized how much they missed out on, and it won't happen again.

The only thing that actually matters is that Bitcoin reaches a $1 trillion market cap, and this is just a matter of time.

The problem with altcoins is that their total supplies artificially inflate the total market cap, which is the exact reason Bitcoin's dominance is only going down. It's nothing more than a waste in my opinion.

Bitcoin can only lose with how many ICOs, forks and coins pop up. If this continues with its current pace, Bitcoin's  market cap dominance will sink below 10%, but I can gladly say that it doesn't change anything.

Altcoins and tokens can use their total supplies in their advantage as much as they want, but they can't artificially create actual usage and adoption. I hope noobs will realize that one day ~ market caps are the tool of the fool.

I don't think it's right for the forum's staff to ban people just based on fud or an opinion that the majority of the users here don't agree with. It would result in an unhealthy situation where people can't say what they want anymore.

Also, scammers don't get banned on this forum, so from there it wouldn't be fair to ban people based on their opinion, even when it can be seen as fud. People here just need to grow a thicker skin.

At the end of the day you are supposed to separate fud from that what's actually happening. In other words, it's your fault entirely that you fell for fud. It's a lesson. It happened once, and likely won't happen twice now.

I would just keep any kind of expectations on the lower side when it comes to them solving the matter, or at least know what's going on. There are enough people out there waiting for months without any update from support.

I find it difficult to understand that with everything that's going on with this exchange, which goes back all the way to last year, it still grows. Somehow people keep using it and keep registering.

I get it that they are flooded with queries (which is the result of their incompetence), but this is just crazy. May I ask if you are just patiently waiting for them to respond, or are you actively forcing through a reply?

Poor people might produce cheap labor, but robots are way cheaper and can continue doing their job 24/7 instead of regular working shifts that employees are subject to. It's a process that is already ongoing and picking up pace.

Those behind the factories don't care about creating job opportunities, they just want to get everything done in a way that keeps every penny in their pocket if needed, human labor is too expensive.

There are numerous examples of factories representing various industries being +90% automated, where the only human input comes from those looking if everything works as it should. It's just the beginning.