That 2 billion $ shouldn't have existed in the first place. They were there because of the ETF hype and now the hype is gone that 2B$ is also gone. Fork debates only made it faster.
Check the charts after the ETF decision. It dropped like %20 or something in seconds. (1040$) A smart person would know that recovery from 1040 won't last long.
This. When the price did it's fake bounce after the ETF was denied, smart folk took the opportunity to sell. |
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I still don't believe that split will happen, just some FUD to shake weak hands and we go up again. There will be no segwit nor BU
I don't believe it will happen either - I think the miners will move to just one version, in order to protect their interests |
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The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat, but those fears are now cleared after BUcoin collapsed. Now Core can keep doing a good job keeping our BTC safe, the price will keep organically growing, and let's hope that miners start being reasonable after this and adopt segwit, but with or without segwit price will keep going up because bitcoin is still insanely undervalued.
You are being overly focused on internal issues. People buy bitcoin for economic reasons. At present the Fed is raising interest rates - they raised in Dec 2016 and they just raised today. That means a stronger dollar - and that usually means other currencies drop against the dollar. Nothing to do with Core v BU at all! |
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The Steem price is down, so the market isn't liking it. Oh well.
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I'm going to go with the trusty US dollar, maybe some pounds and swiss francs as well as all of those are "coins" that have lasted more than 20 years. Add bit of gold in there too! Don't bother with alts or the euro!  |
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Steem is pretty instant. And there are no sending fees either. Most exchanges require 50 confirmations though, and that takes about 10 minutes.
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I don't have a crystal ball or a tarot card but by the looks of it and how the price of Bitcoin move lately, $1,300 USD is possible in a few days or weeks maybe and we may see a new all time high again $1,280 USD is the ATH recorded last March 04 this year and BTC is now being traded at $1,251 USD so $1,300 USD is within reach.
Last Friday I saw the price at $1325 and I heard it reached $1350 briefly. It's been over $1280 so that is most definitely not the ATH. That was the spike in the morning before the ETF decision came out - it went to $1325, and then went down to $1050 - they were taking out all the stops, and all the buy and sell orders. This time, i think that it might push $1250, but there will be selling pressure above that. |
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There is still the drama about the Chinese exchanges and whether they will allow bitcoin withdrawals. Recall they were supposed to allow withdrawals this week, but have postponed things.
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I want to buy some bitcoin, but coinbase is down for maitenance surprise surprise.  Well the exchanges are part of the problem - despite KNOWING that today would be a heavy trading day, they still weren't ready, which means the market isn't functioning properly because so many exchanges are down. Amateurs. |
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After a few days when the markets calm down we will see how much the price was driven by ETF approval speculation. I personally thought it wouldn't drop under $1000 but it did.
Almost all of it was ETF speculation - prices don't rise by 30% in a month just like that. Given the fundamental reasons they gave for refusing the ETF (manipulated exchanges), it is pretty clear that the other two ETFs won't be approved either. |
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I think they felt there was too much market manipulation. Hope people took profits in the last few days...
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People will make less transactions and surely less online shopping, Bitpay may have its days numbered as bitcoin's utility decreases and is mostly used for speculation and store of value.
A predict this will also affect colored coins build on top of bitcoin.
They have the option of allowing payments by alts. It is entirely possible that bitcoin just becomes a store of value, but purchasing stuff is done by an alt like doge or steem or litecoin. |
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http://www.newsbtc.com/2017/03/09/41578/Mounting bitcoin transaction fees make this payment method far less appealing as of late. Things have gotten so bad BitPay made some intriguing changes. As of today, the company charges a minimum transaction fee. This new invoice minimum is a direct response to the increasing cost of miner fees. Not a positive development for the bitcoin sector by any means.
...The decision by BitPay will receive a lot of criticism, though. The minimum invoice amount is now US$1 instead of US$0.04. In most cases, this will not make much of a difference. However, it sets a dangerous precedent for the future, Then again, with transaction fees rising, it will still cost US$2 to make the US$1 payment. Solving this transaction fee problem will be a different matter entirely, that much is certain.
BitPay refers to this decision as a result of fees having increased to bid for the limited supply of space per bitcoin block. While that is certainly true, it seems a solution is further away than before. With competing branches of development, no real progress is being made. Rather than trying to work together, both concepts continue to oppose each other. Until common ground is found, bitcoin fees will continue to mount at an accelerated pace.
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What are the volumes like? Are people on Bitfinex bothering to trade it? With alts, if your coin isn't being traded and generating fees, it gets delisted again.
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They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange? It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF. |
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I think we're due further falls no matter what happens in the short term.
The ETF is just another excuse for a rapid pump by the same old people a la Cyprus and all those millions, or dozens, of Greeks who bought all the coins.
If it does pass then it might be weeks or months before it's operational. When it is operational it's selling shares in coins that have been parked for years that have nothing to do with the active market. Eventually they will have to buy more but it could take years before that stage.
This. The speculators look for news on which to pin their pump. The news becomes an excuse for unusual moves. Then they take profits and it is all over. I hope some people cashed in when the price was $1270 or thereabouts. It was obvious that there would be a pull-back no matter what happened to the ETF. |
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How do Bitcoin traders know when it's the best moment to sell and then buy again?
How to get that moment just before the crash?
How do experienced traders keep holding and predict the best sell time just before the crash?
Nobody times it exactly and nobody knows the exact moment "just before the crash". The smart traders usually take some money off the table in stages - they set themselves targets and obey those targets and don't cry if the price goes up after they sell. I think it was the Rockerfellers who said that they got rich by "selling too early". What they meant was they were not too greedy and understood that it is impossible to predict the exact highs and lows, so you look for reasonable profits and book them. I hope people took my advice above and sold some of their holdings when BTC was at $1270... |
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I wonder what will happen to the bitcoins of those users who fail the AML checks.
Will China seize them, and then do auctions like the FBI does when they acquire bitcoins due to drug busts? Or will they just keep them? Or will they get dumped on some external exchange without warning?
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It is simple profit taking. If you have been riding this pump from mid Jan, when the price was around $900, then it makes sense to sell a bit and bank some profits. That way if the ETF gets denied you don't lose too much. And if it is approved, you still have some holdings left to profit that way.
The Rockerfellers used to say that they got rich by not being too greedy...
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The price crashed because the PBOC people made a statement. See  They are not closing the exchanges for the moment. That implies that if they find any shennanigans, they will close them. And they are blacklisting certain addresses (presumably those owned by people who failed the AML checks). |
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