Personally, I would like to see BTC carve out a solid bottom from here and go into a prolonged range, preferably a tight one without crazy swings up or down.
That seems like the best condition for the alts to start growing again.
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HODLing all the way.
Market is rebounding with a vengeance today.
Those people who think they can time the tops and bottoms of a market will ALWAYS end up broke and bitter. Only a matter of time.
Buy when price is cheap and never, EVER sell untill it's expensive!
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ABSOLUTELY DO HOLD YOUR ALTCOINS!!
Market is on a new tear today. People who sold yesterday will weep like beaten dogs 😀
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Seems like everything in my portfolio has shot up by 35-45% in the last couple of hours. Not sure if we're out of the short-term downtrend yet, but very unusual price behaviour nevertheless, considering the last month's constant downward pressure. We made a low close to the 20 month exponential moving average in BTC/USD so this could be at least a temporary bottom. Let's see what the altcoin market does from here ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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The US dollar is a note, promising the holder that the US government will pay said holder the denominated amount in gold.. ehm.. no, wait..in oil.. eh.. no, that's not it either.. in taxed slave labour! Yes, that's it!
How is THAT not the biggest Ponzi-scheme ever invented?
Precisely, they seek every little opportunity to denigrate bitcoin whereas there are countless systems of fiat currencies in existence being controlled by some world governments which are never criticized but because bitcoin isn't under their control like those they will always badmouth and make denigrating statements against it. Yes, the attacks on bitcoin intensifies with every little tick up in price. Hopefully we'll soon see these people go back to their wonderful Fiat system where money is 100% controlled by satan-worshipping pedo banksters while the rest of the world leaves them behind in their own filth, in conjunction with the decline in popularity of bitcoin for the next few years until another intermediate top comes along..
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The US dollar is a note, promising the holder that the US government will pay said holder the denominated amount in gold.. ehm.. no, wait..in oil.. eh.. no, that's not it either.. in taxed slave labour! Yes, that's it!
How is THAT not the biggest Ponzi-scheme ever invented?
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Look, anybody selling their investment when it has lost a lot of value, really isn't much of an investor, are they? If you want the outsized returns in crypto-currency, you will have to deal with the volatility. This specifically means ACCEPTING that price moves BOTH up AND down. Where is the price most likely to go from here? Down until all crypto-currencies are worth zero, or up again some time in the future, like it has done every time before? This really isn't rocket science; Buy Low, Sell High. If your investment is LOW now, you wait untill it is HIGH again before you sell. Simple enough, no? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Bitstamp!!
There are MANY highly disturbing questions raised in this thread and you are just HIDING from your paying customers like this?
Totally unacceptable behaviour.
I will NOT transfer any of my COMPLETELY LEGAL funds to my account in Bitstamp until I see some very serious effort on your part to divulge everything about your shady business practices!!
Shame on you, Bitstamp.
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This is great news in my opinion. Both on the ability to cash out or park in USD in stead of Tether and also because a lot of the decline we've witnessed in crypto lately have been driven by the ability of a few whales to tank the market at will without new buying being allowed to absorb the manipulation. Could also be a signal that Bittrex realize that unless they want to try to make money in a multi-year bear market, they need to let in the fresh money being kept out of the market. Hopefully Binance and other exchanges who have shut out new signups will follow suit shortly. https://cointelegraph.com/news/major-cryptocurrency-exchange-bittrex-to-add-usd-trading-reopen-new-user-sign-ups
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On days like this I KICK MYSELF for not having any more available funds to buy MORE crypto!!!
AAAARRRRGGGHH!! 😵😵😵
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I was thinking something along the same lines. People are behaving like crypto-currency is going to somehow just go away again and fade into the sunset like an old cowboy. It's not. Just like paper currency didn't go away just because some people took longer to abandon gold and silver as a means of exchange. Those weak hands abandoning ship right now will tell everyone when they're old how they almost made it big from crypto back when it was still in its infancy.. but they didn't. Because they were too scared to put their money where their mouth was. Oh well, more cheap coins for the rest of us! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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I voted 4700 because the 20 month exponential moving average sits at 4963,71 today.
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Believe it or not, Bitcoin is STILL in a bull market.
This is what a correction is. Price moves too far from its median and mean reversion sets in. It's normal and healthy.
BTC/USD's 20 month exponential moving average sits just above 5000. This indicator has proven very powerful in the past on a wide array of assets so I put a lot of confidence in its reliability.
For Bitcoin to actually enter a bear market, price would have to close below the 20 month EMA on a monthly basis.
I expect Bitcoin's price to touch 5000 or maybe briefly dip slightly below this mark, but then move back up and begin a new rise. When this will happen is anyone's guess.
But right now we're witnessing 'The Purge' of the dumb money who bought BTC on credit or sold off all of their belongings to buy in at 18-19-20,000$. These people will lose it all to the smart money, the early adopters and developers sitting on obscene amounts of bitcoins mined for next to nothing a decade ago and the smart money will hoard and scrape every last bitcoin out of the wallets of the weak hands who don't understand the market mechanism of Buy Low, Sell High.
Once 'The Purge' is over, we will head higher again for the next cycle. Like spring follows winter, so will another bull run follow this correction.
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Thank you for the great illustration! The 20 month exponential moving average for BTC/USD sits at 5000 and some loose change. I would not consider this as anything more than a much needed correction until we have a MONTHLY close under 5000. The whales are shaking the tree branches good these days and a lot of easy bitcoins are falling straight into their bags! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I'm liquidating a core position in stocks to get more crypto exposure during this fire sale.
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Joined. Signed up on the platform, followed on twitter and joined telegram group. More details on how/when the air drop is supposed to go down would be great ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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I TRY to participate in as many air drops as possible. But only about 20% actually pay out the promised coins so that would make the remaining 80% scammers.
With a scammer-rate as high as 80%, no wonder many people are wary of joining and the whole KYC thing is not only complete overkill for a handful of coins worth .04$ each, its also criminally stupid when 80% of the air drop campaigns are run by scam artists.
That being said, I completely understand the frustration LEGITIMATE campaigns must feel when they're being swarmed by fake multi-accounts and this tendency obviously hurts regular crypto-enthusiasts like myself wanting to support exiting new projects.
I don't have a solution, just airing out my thoughts on this subject..
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Of course they are.
Do you really think anybody will be allowed to set up a financial business in the EU funnelling literally hundreds of millions of euros without the tax authorities of eu member countries making sure they know exactly where all that nice tax revenue is going and to whom?
Government today is solely about one thing, and one thing only:
The hunt for taxes.
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Interesting perspective.
I think bitcoin's value lies both in its ability to move wealth effortlessly across borders as well as being the digital equivalent of the US Dollar, in that the other crypto-currencies are traded against btc, just like commodities are traded in dollars.
But what if it becomes like a new "consumer prices index"? What if Bitcoin becomes the new Zero? Numbers existed before Zero did. I'm not sure I understand what you mean with New Zero, but if you're asking if I think bitcoin will one day be worth nothing, then yeah, anything can become worthless. I just don't worry too much about bitcoin going to zero because a. I don't own a lot of bitcoins and b. If it goes to zero some other crypto-currency will have replaced it due to being more useful. Personally, I see a lot of merit in the argument that we are in the beginning of the process of moving from fiat currencies to crypto-currencies, just as humans moved from precious metal currencies to paper. Doesn't really matter what happens to bitcoin in the long run, crypto-currency is here to stay, IMHO.
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Interesting perspective.
I think bitcoin's value lies both in its ability to move wealth effortlessly across borders as well as being the digital equivalent of the US Dollar, in that the other crypto-currencies are traded against btc, just like commodities are traded in dollars.
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This definitely lends credence to my theory that Chinese market manipulation is still rife in crypto.
Everybody have been acting as if the Chinese suddenly took all of their bitcoins and vanished into thin air in September when exchanges were banned in mainland China, whereas the reality is they just moved their coins to exchanges located outside China.
Expect to see more shenanigans like January 15 from the Chinese in the future..
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