Its just a fud. For me its a good thing also that some miners will be out of China. So what if they did banned some of those miners. For what? (.....)
What my thoughts for this are other countries will start to explore Bitcoin mining, probably some businesses will try to explore Bitcoin mining in some other countries, not only in China. Since as we all know, China got one of the very cheap electricity and labor fee for workers. So, this FUD or recently negative news of Bitcoin from China will be a trigger to other countries about Bitcoin mining. FUD but there are good effects too.
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(...) If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.
We all know that China is one of the biggest top countries that got very lot of miners and they are very important too in Bitcoin network as a lot of miners are from China, an example is the FUD recently about banning Bitcoin transactions, minings there, it is one of the proof that China is a big player in Bitcoin now. For me, this is not totally negative for Bitcoin, this will be also great to neighboring countries of China that will start Bitcoin mining too, Bitcoin mining will start to spread outside China and possible that Bitcoin mining will grow and spread on different countries or places.
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Any expert can explain the reason behind those huge pump and dumped of BTC?
I'm not an expert but for me, I can say that that's how cryptocurrency very volatile. Especially we are still early now, the market cap of Bitcoin now is still very low compare to other assets, like Gold. What I can see is volatility at all. As Bitcoin is the most volatile asset in the world, so these huge dumps and pumps are really expected. It's just like what they say "What going up must go down, what going down, must go up". Manipulation could be possible these days, if you already read this article, about Bitcoin Cartel around 2018 -> 4th Dimension: Bitcoin-Manipulation-Cartel — Price-Suppression is the Goal, this may help you.
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To be honest, it is difficult to identify when we will dump. Some are basing on fundamental analysis like there is new negative news about Bitcoin or FUD, or some big personality having statements about Bitcoin. And the huge possibility is the whales in the market, where they are capable to make the price of Bitcoin move in a huge percentage. Another thing too is a technical analysis using different tools, like analyzing the volume, momentum indicator, open interests, etc.
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Most successful traders are making a lot of money because of technical analysis. And does not mean that if you do technical analysis, you will do trades every time. It's part of the analysis of when you gonna trade and when you are not gonna trade, and if you are a responsible trader, you gonna practice it. @OcTradism is right, most of the traders got different strategies, some are owning using low time frames while some are in high time frames. We can also consider that too during sideways.
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No matter what year, it will always be. No one knows what will happen in the future. So what is your opinion regarding this topic let us learn your valuable information.
My opinion always is to read, do research then decide on your own so you will not blame anyone if you ever lost your money and if ever you will not lose, you will be proud of yourself. Let's say if you will not invest "all" your money, then you could not lose your "all" money. That's why not going all-in always is never a bad choice.
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I already saw a lot of thoughts by Robert Kiyosaki, so I am 100% sure that Robert Kiyosaki will just add more Bitcoin to his bags, he already mentioned Bitcoins before several times, he is already a holder of Bitcoin for sure.
Speaking of the $24,000 price for Bitcoin to drop, is still very possible these days. But for sure, if ever Bitcoin could drop around that price level, I am very sure it will only a few seconds or just a wick of the red candle. A lot of buy orders are waiting below $30,000.
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What do you think about this? Who has some experience, more longs or shorts?
For me, we should consider the price action of Bitcoin around the last quarter of 2020 up to the month of January of 2021. The run of Bitcoin before was extremely huge too, imagine from $10,000 -> $20,000 move, that is already 50%. Speaking of shorts, these huge wicks or red candles are also causing by high leverage traders, or if you are familiar with "short squeeze". Lot of liquidations around $40,000 - $60,000.
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I don't alarm at all because of this China FUD. For sure, people who are affected by this regulation can make their alternative way to access Bitcoin, there could be a way for sure. Additional is, as we all know China's FUD is already a few years ago, and they always announcing this kind of bad news for Bitcoin but look now where Bitcoin is, this is why these kinds of news are called "FUD".
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Is it our friend Elon Troll Musk again?
I don't think so that we will see more Elon Musk troll posts for this price level. If you can recall that Tesla bought Bitcoin around these price levels, they could be now break-even or underwater for Bitcoin they bought a few months ago, but then again they already sold some around $50,000+.
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Let's be careful
All of these countries are poor and being hammered by a weak dollar. This could get messy if the US protects usd hegemony
Careful where? Bitcoin is decentralized so even the US will get into it, they can't control Bitcoin. The only problem here if a country like Paraguay will get into local business owners that are accepting Bitcoin and they will enforce it not to accept Bitcoin for payments, that's more the real deal.
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michael saylor have huge funding to realize his dream to make bitcoin price hit $100k. many time in every dip saylor make partially buying to drive bitcoin price again. but unfortunately what saylor doing was not enough to drive price higher and higher, alot of traders and investors still pessimist with current situation.
In the beginning, there could be some effect on the price of Bitcoin when these kinds of a huge company are announcing that they are buying Bitcoins. But if you can see, as time goes by, several companies or the same companies are announcing that they bought Bitcoin, the effect on the price as time goes by is not the same at the beginning. For me at the end of the day, the amount or how big the money will move in Bitcoin will matter, the price will probably react.
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I was able to watch this episode of Explained series. The episode is very great, first, they started with the history of gambling, like how it evolves. It is a very short episode and it was only limited to gambling, but they explained greatly how it works, like how it was connected in our brain. They more focus on dice games, slots, or like based on luck gambling. They aren't able to explain some sports gambling which my question is, it is still the same when it comes to sports gambling?
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Another simple way is, this kinda sounds dumb but in reality, it could work. How to know when to sell is very similar to how to know when to buy. You know when how to buy, you should also know when to sell.
Try to invert your chart, and if you using supports and resistance, you gonna know. Your chart is inverted, you will enter (sell) trade on the breakout or dip right? So that's the time you can sell too. Opposite of buying.
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A very simple piece of advice. If ever you are planning to quit or still continue. When you decide to quit -> You will not make all your losses back. If you continue -> learn from your mistakes, you will gonna do again what mistakes you did right? Capital preservation is a must too.
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Cheers mate! I'll take number 84.
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There are a lot of people telling that they should've hodl their coins rather than use them for trading. These days, it's like most crypto beginners' target in cryptocurrency is to trade, because they think doing cryptocurrency trading will make easy money, which they probably saw on random social media that telling crypto trading is to make easy money.
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I think OP needs some trading discussion and/or "how to use Binance" discussion or guide. There are already a lot of guides on how to use the Binance platform as the trading platform, google is your friend. Binance itself got a guide for how to use their platform to trade, you can visit their article too: A Complete Guide to Cryptocurrency Trading for Beginners.
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Do use Bitcoin and decentralized platforms like decentralized exchange will not make you anonymous already? Yeah, using privacy coins like Monero will just make you more anonymous. And VPNs too, it's like privacy coins and VPNs to me are like additional to make you more anonymous. So if you don't have really important purpose, you can not need anymore to use these additional tools or ways.
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Where did you found that they are starting to support cryptocurrencies? I visited their website, I don't find any cryptocurrency-related content, like an announcement. Their Twitter account is still suspended. Even on their Facebook page, they don't have the latest post that is announced to support cryptocurrency.
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