op said whether bitcoin will become the richest country in the world in 8 years so my question is now el salvador country is bankrupt or is their assets declining because bitcoin is now down?
Both, they're on the very edge of a debt default because of low foreign reserves while their crypto assets put a burden on the country's ability to pay off debt's interest since their avg DCA for Bitcoin is still quite high. Though, they are not completely out of options. El Salvador could ask crypto financials to help them with loans since El Salvador is everyone's favorite thanks to adopting Bitcoin. In short, El Salvador might be rich after 8 years if the Bitcoin price hit some kind of new high, $100k, $200k but they might not able to hodl to that point because of the pressure on their Bitcoin bag. |
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I can say that NFT is a new concept that is still being studied and perfected so that it has not been able to carry out public sales like ICOs. This is also because the concept of NFT itself is very different in function from crypto coin assets. But I don't think it will happen in the future.
It could happen in the future if the NFT industry would boom again. We'll see how their developments could pursue after the bearish market. NFTs could innovate and emerge in the future yet it still has a lot to prove since lots of NFT projects before have failed. In the current situation that we have right now, I don't think INO projects will succeed. A public sale of NFTs would look like auction bids. People place their bids for rare NTF, a ticket-based system where everyone might have a chance to join in the bid. A lot of things mix between normal NTFs trade and ICO to make INO. That's my take the chance for INO to succeed depends on what kind of NFTs are being offered. |
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ETC right now is the best coin to invest in. Cause once ETH POS goes live, any other POW coins will see a massive exodus and ETC is the closest to ETH's concept of POW. You may see the recent surge of ETC price, +20% as it takes into account and 'priced in' but there is a lot of room to grow.
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This is what I am doing right now, I do not have a ton of money but hopefully when the bull comes I will probably have a good chunk of money. This is why I am saving enough to buy as many bitcoins as I can. Meanwhile, I am working on a project idea, it is not shaped just yet but I know the general idea and if it works then when the time comes and crypto starts to go up, I will have enough money to hire people and build a project in the bull period.
This will of course both take a lot of money, but also it will take a lot of long hours but I have plenty of that right now, I am not even looking at the idea everyday now, like maybe once or twice a week, because I still have time until bull comes.
Great to see people take OP's thinking into action. Bear time is good for accumulating both crypto and knowledge. So later when it comes to bear time, you're better equipped with knowledge and fund to invest in crypto. Since I don't know what is your idea or project about but I wish you will find your long awaited success. |
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It seems to me that there is no point in guessing where the bottom is now, because if it hasn't happened yet, there will probably be a rebound soon. It is unlikely that bitcoin will suffer the fate of the dotcoms, so I don't think the price will return to very low levels. Even if we have to see 10k, I am sure it will not be long and will be a very good opportunity to buy more bitcoin.
I agree, bitcoin is the Google or the Amazon of the dot com bubble, they went down in value during that time but then they recovered, and if we take a look at the charts of those two companies the dot com bubble now seems like nothing but a small drop. So the same will happen with bitcoin, however it is going to take some time before the recovery begins and since that is the case then we need to take advantage of the circumstances and buy bitcoin as long as it is available for such a low price. Yes, I think we might see Bitcoin drops more but this isn't over for Bitcoin. If anything we've learned over the crypto market, dip and hard correction is a normal part of its cycle. If today we're bear then one or two more years, we'll back to bear. Those who see the market now, feel disappointed and rage quit are missing a big chance. 17.5K is the lowest now, maybe it will go lower than that but everyone has to agree there is a high chance it will back to higher in the next few years. |
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its done for Luna and time to move on at potential project in market. Alot altcoin price cheap now and dev team building in this bearish trend. Trust from investor totally gone no matter Do Kwon doing. Reserce protocol maybe have potency to pump in near future due their development peogress.
But for how long the backup protocol can develop and can have a pumping effect on the products built by Do Kwon is also difficult to know, so investors prefer to take a simpler and more realistic path by staying away from Luna and continuing their investment with other products and also with more convincing cryptocurrency products for the future. Trust is too important for altcoin and Terra/Luna/Do Kwon has lost it completely. If you are debate from an old altcoin that has lost the investor trust (aka Luna) vs a whole new altcoin, the new one win. Tho lack of trust for now but it can still build up over time. |
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Sure you can't destroy it but crashing it? Are you sure whales or any other entities that hold a lot of BTC can't change or affect the market? Say if FED turn back with more bad news, rate hike further, the economy comes to a true recession and looks grim, do you think BTC can stay steady?
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Bitcoin and ethereum have dominated the market since 2016, ethereum's main strength is being the parent coin of thousands of defi, nft and DEX projects thus creating a heavy dependence on ETH, when transaction fees increase but do not make users run away from ETH.
No, just Bitcoin has dominated the market since 2016, ETH just follows the Bitcoin signal. Back then, there was BCH, Litecoin as well to reduce the amount of Bitcoin dominance so the market back then split more than today. |
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Well, he bought it at spot so at least he can still convince his investors to keep it for around a year or two more. But he is slowly running out of time if Bitcoin price back to below $10k which put him at loss for all of his DCA (21,454 BTC @$11k and 16,796 BTC @$10k). Can we even call all of his investments in Bitcoin as DCA? |
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Anyone noticing new projects still raising millions of dollars? Mohash and Dynamic for example, I think new projects will replace lots of top altcoins in coming years and my advice to young investors is to find new projects to mix with their portfolio, remember that Matic, Polkadot, Avalnache are once all new projects in 2018/2019..
To be able to find projects such as Polkadot, MATIC, BNB, ETH and so on, of course, is very difficult, maybe because there are too many scam projects that make us sell immediately when we are profitable, this is what makes patience rewarded with a high value, and from this of course we must focus on observing new projects that have the opportunity to become the next BNB, MATIC, AVAX, etc. Raising millions of dollars doesn't 100% guarantee success though. Terra LUNA case, for example, raised millions but still crash and fail pretty hard. Any above projects could be too if they ain't careful in how to manage their project or development. |
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El salvador is going to default soon on their sovereign debt and this is what their leader thinks of doing lol BTW, nobody in El Salvador uses bitcoin https://www.youtube.com/watch?v=ig3UN1GYmY8He's just embezzling taxpayer's money Yup, I'm sure most El Salvador citizens don't give a shit about Bitcoin when their country slowly dig it own grave in socioeconomics. But of course, they can't do anything to him, tell him to stop doing that because they're a failed state, a banana republic all and all. |
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I want to vote for a crab market. Price going to hover over this $20k wall for quite some time, maybe dip to $17k like you said but still, a crab market it is. Too many people were anticipant it will go to $10k or around that. But unless some really bad news happens or FED stupid enough to crash the stock market, it will be hard to meet that price mark cause strong amount of buy orders there. Plenty of hedge funds are still DCA in crypto too.
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For NFT users, yes. This might be their best time to avoid certain fluctuations again in Ethereum-based projects like games or just investments.
There are still more out there who uses the ERC20 and I don't think they will be changing that sooner.
Buy some Ethereum and keep it or directly use that Ethereum to buy NFTs.
An opportunity that might not happen again soon. Not until the Ethereum 2.0 comes out. So for those in rush I'd prefer this cheap time and maximize it as much as possible.
NFTs are a real bargain these days. Especially when their price in ETH terms are unchanged. You can purchase cheap ETH with Fiat to buy NFTs at a huge discount. I'd advise anyone to do as many operations on the ETH blockchain as possible before gas fees rise back to their previous levels. That said, bear markets are a great way for you to expand your wealth in the future. Who knows if we never see sub $1k ETH prices again as the Ethereum blockchain becomes more popular than ever? Just my opinion  Expand your wealth by buying NTFs? Come on, don't make it like there are no risks in NTFs. The ETH's price at low doesn't seem to be a good chance to invest in NFTs just because those NFTs are priced to a fixed rate of ETH. |
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Weak hands are usually new traders looking for short-term profit. I bet most people who sell at $17k range were the same ones who bought when it was over $20k beforehand, thought they could make a profit when it goes higher than $20k and that was the lowest point Bitcoin could get. But when Bitcoin dropped furthermore, along with FUD news, they rather cut loss instead of keep holding.
Without a doubt those people are weak hands however there are simply too many types of weak hands, there are those that bought near the all time high as they thought the price of bitcoin will go up forever and they decide to invest at the worst possible time and then the price went down, however instead of cutting their losses early they refused to accept the reality and kept holding until the price reached a very low price, and instead of simply accepting their mistake and becoming long term holders and use DCA they decided to sell at the worst possible time. Aside from new traders being weak hands, Panic also set in when they experience a big dump from a price that they have never expected to be reached. Mostly, New traders doesn't know Market Psychology which is an aspect of trading, Having it unknown can make a big impact on trading especially on the current market situation we have. Yeah, panic is also another force at play here in those weak hands mind. Really, I wonder how can people FOMO so easily when there was DCA strategy that gives you a better way to risk management and lower risk overall? Why would you buy something when it was already increased +xx%. 'It drops down -xx%, can not be anymore lower' and went full in? Panic, FOMO all are the recipe for a disaster. Reject Panic and FOMO, embrace DCA. |
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Why polka-dot? Any particulate reason? Cause I dont see polka-dot having any edges over other altcoins in the market right now. If you're looking for altcoins advice then I say ETH and BNB seem much better than polka-dot.
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If it took him 2 years to understand this mechanism of buy low sell high then I think he's still young and has much to learn. His thinking is quite simple and only works when the market recovers quickly after a dip. If he can't time the right dip, he will be stuck holding a bag when the price drop lower. Cutting loss too early when it was on trend to bound back, fake bear trap,... Yup, still a greenhorn.
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There are many altcoins which might explore in the future but people are afraid to invest in altcoins due to what happened the last time they hodl altcoins for long term. It was really a big loss to the long term investors who were happy and putting their hope in Luna to make a bullish run in the coming years, only for the project to drop and makes the investors to liquidate their accounts. I urged anyone that the dip have affected financially, they should try reinvesting in altcoins like BNB, XRP and even ETH. These coins will pump to the moon, it's all just a matter of time.
I never had any confidence about XRP, I believe that for the long term it will not serve, however, bnb, eth (after they correct the issue of high rates) I believe it will have a very long future. XRP usually has a history to upset the trend for whatever the reason behind it was (too centralized?). So XRP is good for anyone looking for something else, short term profit in case the crypto market goes down. |
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Hope means nothing when we have a war ongoing that could threaten and drag the whole world into it. I just want to be realistic, 20k is okay for now but I don't see much hope on BTC able to keep over that line for long.
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It makes sense if your goal for that coin is long-term hold and staking helps you to get more of that coin in a passive way. It also provides an incentive to holders to keep on hold the coin even though the crypto market has high volatility.
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