Are people still paying attention to this silly being? He has been repeating the same nonsense for years now, where he waits for a bear market to kick in to "predict" the price to go down, which anyone can pretty accurately do.

In a bear market it's obviously more likely that the price goes down, so what you do from there is point out some potential lower bottom levels, and chances are high that at least one of these levels will be hit. It's not rocket science.

The thing is that people do both hodling and investing, where they use a small chunk of their hodl stash to invest in a project, all because that allows them to add to their Bitcoin position if their investment goes well.

Hodling isn't going to yield you extra satoshis.... all you're experiencing is a virtual increase in the value, and this is why people want to be more actively involved in the crypto space because there are quite some opportunities to benefit from.

Obviously, there are far more risks attached to actively investing your coins than to simply hodl them, but people are well willing to face these risks in an attempt to grow their number of satoshis.

I'm sure that Libra will end up being launched, the only questions are when will it launch, and in what form will it launch.... it's clear that regulators won't allow them to launch in their current form so they have to make adjustments.

One adjustment I can see them make is that the governments of each country they operate in will be granted a role in the whole network. It will lead to more centralization and governments will retain as much of their control as possible.

I find it quite a bummer how regulators don't let businesses just conduct business.... all we see them do is over regulate everything to a point where you can't even fart without a permit or some sort of a financial license.

It's not really a surprise to see leverage platforms do well, mainly because of how easy to access and use they are. It's also offering an advantage in the way that you don't really need volatility anymore.

If you want to increase your risk exposure for higher returns, then simply crank up your leverage count and this can be done in a matter of seconds. People somehow don't seem to care about the risk they exposure themselves to.

If you want even more risk exposure, apply leverage on already volatile altcoins and there you have the perfect formula that grants you similar odds as what a casino can offer you when you go all in on black. It's pure gambling.

Finally someone who understands how newbies are.... the part I don't really agree with is where you state that people don't care about good and correct trading rules, because they do and are willing to pay big money for it to "experts".

There is a thriving industry of social media influencers who offer courses on everything related to trading and investments, where some charge even $2k for a full course.

One must be quite desperate to learn how trading works to actually pay that much money to someone who pretends to be an expert but in reality only knows the basics. If people didn't care they wouldn't pay that much.

People are too lazy and dumb for that.... if people make a few profitable trades based on pure luck, they suddenly become a professional in their mind and start to act like that with devastating consequences in the long run.

The lazy part becomes clear when you realize how large some of the signal groups are with hundreds of thousands of followers. It's crazy how people just don't seem to be able to think outside of their own bubble of pure ignorance.

Both cash and digital money already existed for many years now, and that without blockchain or anything related to crypto. If there is going to be something related to crypto, it will still be issued by a government.

There is no way that we see governments use Bitcoin in any shape or form.... it makes no sense either because it resembles everything they have been trying to combat for many decades as they want to retain their full control.

The only reason people hope that governments adopt Bitcoin is that they think the price will go up a lot as result, but it's not realistic at all.... they haven't hoarded gold to not use that as backing. It will be used eventually, not Bitcoin.

I think that $6k is where the support will kick in.... at some point the bearish sentiment will be countered by the bulls where we hopefully get to bottom out and have that be a reversal point.

If we are indeed heading down to $6k we'll see it happen rather quick when we breach ~$7k because there isn't much support that I can see.... that's going to be a brutal shakeout but one we apparently need.

The worst part about corrections in my opinion is the sideways consolidation after we finally found a bottom as months of very boring price action will drive a lot of people nuts.

Yet another lame excuse to the price going down.... this, as always, is a technical drop and not related to anything else. Last year the signs of a bear market were very obvious, so they have been in the last couple of weeks.

Good thing is that because we didn't go up like 1000-2000% what we usually tend to do, the bleeding will be less and the recovery should happen not very far from where we currently are, unless the demand is gone completely.

The trading volume has picked up a lot today, but I'm sure it will drop significantly when we start to move sideways for a while until the next major moves resets the price higher or lower.

It's always the same when it comes to how this market behaves during a corrective phase.... the longer corrective phases drag on the lower the volumes will be, even when there are big moves that wake the market up.

The reason is that people don't want to touch an asset that tanks, so they either wait or just shift their focus completely and leave until they see Bitcoin make new highs on their local news tv channel.

Legal in what way? And how are you so sure that it will help get the price to increase? It doesn't work like that.... good news during a bear market has next to no effect. Bad news during a bull market has no effect either.

People need to stop hoping for miracles to happen and get better at understanding how this market actually works on a technical level, and from there focus on the charts, because there is a lot of valuable information to find there.

I would say that it depends on what the goal is.... if you want to dollar cost average, then it's definitely a good time to buy because the same amount of fiat allows you to stock up on more Bitcoin than the day or week before.

It's also a good time to buy for people with a long term view where their focus is to sell at $20k or higher. It makes not much of a difference whether you buy today at $7.5k or potentially next week around $7k or $6k.

Another thing is that you don't know for sure if the price will fall down more. I'm inclined to think it will drop more, but markets can reverse at any time without notice, so better make sure you at least have some Bitcoin in your wallet.

Bitcoin sets the trend and the altcoins follow.... that's how it has been for years now and nothing indicates that something is going to change here, so better keep an eye on Bitcoin's chart before investing in an altcoin.

It doesn't really matter whether an altcoin has a lot of utility or none at all.... what people care about is flipping coins for a profit where they hop from coin to coin based on where the money is to make. Everything is greed driven here.

If we however look at this decline positively, it could offer a lower entry point for you to lower your overall buying price in case you bought in higher. It will help you turn a profit much faster.

Wow.... as I posted in another thread stating that I expect the price to drop further, I saw this thread and quickly looked up the price, and it wasn't a troll trying to scare off people, but an actual dump of around $500.

Some times you just want to be wrong, but in this case I was not. I rather be right predicting the price to go up, but this is also part of the market after the massive run we had that started in April, which pumped the price from $3k to $14k.

There definitely is a chance for Bitcoin to reach $12k again this year, it just isn't very likely. I think that's a better way to say it. Bitcoin has time on time again proven to do that what people didn't expect to happen.

Right? I'm still flabbergasted by where we are today, because it's not even that long ago where the price was bouncing between the $3k and $4k mark.... we are still +100% above that after a +40% correction from the top.

I expect the price to take one more hit before we can start to focus on a recovery again. My guess is $6k and from there we will probably have some months of sideways consolidation to explode up and leave these levels behind for ever.

This. I have never seen him talk about being interested in buying Bitcoin or his personal holdings at all, it's just a continuous sales pitch to attract capital from people who are too dumb to invest themselves....

I rather pay a legacy banker to invest my capital than to allow Tom Lee to do it, because I'm quite sure that he will mess up the way he has been messing up for a long time now.... his whole crypto journey is one big failure.

I think you summed it up well. I'm sure that most people by now already know of Bitcoin's existence, but just aren't too interested in actually getting involved in some shape or form, and that's perfectly understandable.

Regulations play a big role in the sense that no-coiners think it provides them security and safety because a government body has granted the space or a certain business their approval.

People here might not be too keen on regulations, which is fair, but it's very important to attract the big capital in the long run, especially from wealthy family offices and institutions that are waiting for an ETF for example.

The accusations of wash trading are valid, but still, people continue to use these platforms for whatever reason. It basically means that the wash trading these exchanges participate in is paying off big time, therefore will not stop.

The only way to curb down on this effectively is to have index sites block these exchanges, but that's not happening either because index sites are being paid significant sums of money by these exchanges to keep them listed.

People are more than happy to accept Bitcoin, but they aren't as happy to spend their coins, which I can't blame them for because it's far more rewarding to sit on your coins than to spend them.

I'm sure that most people have had a situation at least once where they spent their coins to later see the price quadruple not long after.... those who have very likely won't be spending their coins again.

Bitcoin being a store of value is where most of the value will come from. Gold is a store of value too, and that while the industrial demand for it has decreased a lot because of the high price.

This. Up to last year I really believed that altcoins would trend down as the growth of LN on paper forms a major threat to any altcoin focusing on fast and cheap transactions, but I couldn't be more wrong.

Altcoins work as leveraged instruments both on the way up and down, and this is what people like about them, no matter how crappy they may seem. All that matters is to enter and exit with a profit and people then shift to another coin.

Buying random altcoins is also very exciting for people in the sense that it potentially may turn out to be the next Bitcoin or Ethereum they have invested in. It's a complete package that makes them interesting investment options.