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Fiat currency is a perfect choice for pension funds, not only because its value is stable despite enduring devaluation but it is easy to transfer and use at any time in the future for the elderly. Imagine if someone someday has to withdraw bitcoin as a pension fund that supposes to worth $85k-$100k in fiat but instead, it worth $20k because at that time bitcoin encountering crash, yes it may the other way around yet we don't know what will happen in the future with a volatile currency.
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The first correction has begun as the price decline to $18,640 as the lowest level today, yet we don't know how deep it will be by the end of the day. Bitcoin had the first attempt to reach $20k but failed to break the resistance at $19,5k yesterday, so this correction is expected, depending on how much it goes down, will determine when the second attempt to hit $20k, presumed by the end of this month.
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No, it's not ADA coin as the best 2 altcoins right now, it's at number 7. ADA price has declined 7% in the last 24 hours. However, the best coin is XLM, it has increased by 128% in the last 7 days, and XRP by 116%, followed by Verge (XVG), Horizen (ZEN), Nano, and Status (SNT). Source : coinmarketcap |
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Altcoins will rise eventually following Bitcoin because investors or traders who looking for a short time investment will take a look at the top 10-20 altcoins which have good potential to trade if they thought Bitcoin is already overbought. Since the history of altcoins shows that xrp has achieved the ath at $3,84 in January 2018, so many people expect xrp to reach that price if bitcoin makes it to $ 20k again.
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Alessio Rastani posted the ABC hypothesis tonight and I will follow up his idea in this post.
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1. BTC c wave to $2000 and below where traders expect reversal into parabolic uptrend in 2021
2. ALTs drop to multi year lows along with BTC during this great crypto deluge
3. Alts recover and flip BTC which does reverse but henceforth in zombie mode similar to ETC, vastly underperforming alts this decade
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1. Probably be the other way around, the uptrend in 2021 should reach a new ATH with some corrections but it will not ever fall to $2k considering the growth of bitcoin. 2. Altcoins exist to cover bitcoin's shortcomings, so it's expected that the price goes up and down following bitcoin. 3. Based on point number 2, that won't happen. Actually, ETH hit the ATH after the price of bitcoin fell, but as time goes on, none of the altcoins can withstand depreciation. |
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And full of sorrow when it falls  Whatever goes-up so quickly, will fall so badly. Hopefully, not the case for bitcoin. We always want a mature market, less volatile, and more adopters. $19k is just a beginning before the real Bull-run in 2021 when more investors recognize bitcoin as a digital gold as a reserve asset. |
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Actually Bitcoin had already reached that Level again though the value of Dollar is too low thats why the conversion did not fit to make it 20,000$ per btc but at least we have already achieve. Now what we are seeing is the close movement to run the 20,000 value again. Bitcoin already hit $19,243 ,that is 757 dollars to go and we will be on top again. The question now is How Much will be the Highest Price of Bitcoin this year upto next.
$19,442 is the highest point so far since Bitcoin succeed to break the $19k resistance level which means we can expect bitcoin to challenge the ATH at $20k in the next few hours if there is no big retraction below $18,6k. Many people predict that bitcoin may encounter the parabolic SAR at $19,8k, at any rate, we will know soon. However, $20k isn't the limit for bitcoin this year, the potential shows it can extend to $22k-$25k. |
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Basically, the platform where I will be trading must be safe. Then I want to trade on a trading site that charges a low fee. Another thing is that I don't need a signal provider.
Yeah, as his signal site isn't a good one for subscribing to, preferred to trade by yourself, by your own decision. The technical and mathematical analysis will provide a better explanation of the probability that will happen in the crypto market, and one more thing to observe, namely fundamental or trend analysis. However, not everyone can do those things, so there is plenty of analysis out there to be observed, following 1-2 top authors is a good choice. |
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Most popular one that every newbie should know will always be DCA. As long as you do DCA you will always be doing great. Personally speaking I have been using it for a long time now and anytime I get some extra money I invest it right into crypto and right now I am in a decent profitable situation.
Honestly everyone is in a decent profitable position if they bought months ago, so mine is not that shocking but what mine helps is that when bitcoin is very low, I still buy and that drops the average a lot which makes it that much profitable. My latest purchase was at $16k and my lowest entry was at $5.6k and my average right now is around $11.1k or so, which means I have done not so bad for myself with this new increase. I would suggest all newbies to try it, it is very simple.
The simple way for newbies is 'buy and hold' obviously, no need for complex trading strategies, just a fundamental understanding of how the market will grow and the chances in the future. Buy at a lower point and sell at the higher target, for instance; buying bitcoin even for the current price as the entry point still profitable if someone patiently waits until bitcoin reaches $30k or $50k, it will take months to reach that point, but bitcoin surely will get there. |
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I guess that if somebody types 82000 instead of 18000 kinda deserves his fate. I mean, when one works with money, he should double check.
Well, after such a costly trade, I am sure that next time he will... if there will be a next time.
Did somebody wants to put the order at $18,200 but accidentally didn't press the '1' button, or is it a bug in binance system? However, news media has contacted binance, but they remain silent about what happened, in this case, more likely not a human error placed the wrong order number. Decrypt has contacted Binance about today’s $82K BTC wick but we’ve yet to receive a response. source |
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For me personally, reaching that goal was not so difficult because I have been involved with BTC since 2014, and then the price was quite low compared to today. Like many, I started with faucets which then paid very large amounts in terms of satoshi (it was easy to earn over 500 000 satoshi with a few refs a day), then it was the time to join some signatures and twitter campaigns, and I promoted some crypto exchanges that proved to be a good way to get some extra income.
I find it quite sickening sometimes looking back when a few btc was tossed around like it was nothing, and then seeing it reach highs of 15k does put in into perspective that maybe holding is the correct way to do so. The fact that faucets once upon a time rewarded multiple Bitcoin for simple tasks is also crazy to consider. ~ Yeah, I can feel that too. Can't resist the temptation to sell bitcoin at a higher price, but the truth is bitcoin continues to grow even higher, left regret in my heart why I sold it previously at $1000, $2000, $3000, $5000, and so on. The first faucet I ever involved paid BTC0.02, it was nothing at that time, only worth probably $0.18, but look at the rate now, quite valuable. However, BTC1 at the moment feels too far away from the standpoint, not sure when I will be able to accumulate it, maybe in the next year. |
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Not everyone is privileged enough to stay calm when the economy crashes or even when the pandemic started. Even those who had businesses, savings, stable job had suffered, what more for those who are just depending on basic salary or those who are on the minimum wage class. Even if we know this will come soon, even the government is not prepared for this, but everyone is coping-up and starting to rebuild.
Indeed, people deserve a good life, they have worked and tried, but the Pandemic has had a huge impact on the world economy as a whole, there is no other choice but to lose their jobs. So it is a natural thing for people to complain about the situation in their country, because from the beginning a country did not issue policies to be able to control this pandemic until finally it became widespread. |
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My concern gets even bigger now with the bitcoin price looks so bubble.
Could explode anytime and especially when the vaccine distributed and feel works handling the virus
That is the moment where everything decided.
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The vaccine has been found and being tested around the world but bitcoin prices remain to increase steadily towards new ath. However, it will take a long time for the vaccine and the world to normalize, predicted in early 2022, despite bitcoin may encounter a big drop before 2022. The real crash probably when bitcoin reached the peak point and the world economy is running ordinarily, investors will cash out and switch to stocks once again. The Covid-19 vaccine is just one medium to control the spread of the virus and it takes time to completely stop the spread. We can expect the world economy will begin to recover by the end of 2021 and begin to normalize in 2022.
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I think Covid-19 did not affect on Crypto market and it will be not wrong that during lockdown Crypto market remained in a stable position and 2020 Q3 and Q4 is also the best season for the crypto market.
We can assume many things affect the cryptocurrency market this year, global pandemic is one of them. Why? because during the Pandemic, many companies can't run their business, hence it affects the course of business and profits, so that the stock price drops and investors look for other ways to get profit during the Pandemic, bitcoin is one way to invest because this year is the right time due to halving, multiply the profits for investors. |
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Jeff Bezos' networth is 190 billion. Satoshi Nakamoto could be owning around 1 million Bitcoins. If 1 Bitcoin would cost more than $190,000 than his networth would be more than that of Jeff Bezos', assuming it won't change, for the sake of argument. There are other individuals who hold a lot of coins, but still much less than a million coins, so Bitcoin would need to cost millions of dolllars for them to become the richest person in the world.
A long way to go, bitcoin may reach that price within 3-5 years I guess, considering stable price growth over time, it is possible. Nevertheless, bitcoin belongs to Satoshi Nakamoto is considered as 'lost coins'. We don't know what happen to him all this time, whether he is still alive or he has thrown the coin away for good, delete the private keys. in this case, no one besides Satoshi Nakamoto could become the richest man in the world by holding so many bitcoins. |
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Can someone point me to where I should begin?
And one more question: What is the minimum amount of money needed to start?
You'll find a lot of guidelines about how to learn to trade bitcoin or cryptocurrency. Here for example; Bitcoin trading guide, teaches basic things about trading and investing, day trading, swing trading, scalping. about fundamental analysis and technical analysis, you'll understand after reading some references but basically price movements often follow trends on the market, which may either be long or short-term. First, you have to open an account on one exchanges such as Binance, Coinbase, Bitstamp, etc, preferred one in your country to facilitate/make it easier to deposit fiat currency. There is a minimum amount of depositing fiat money, it varies depending on the exchanges, you can check it on their site, usually around $20-$150. |
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In recent years, investing in Bitcoin has been seen as a possible way to diversify one’s investment portfolio.
As a result of COVID-19 and what’s happened to the stock markets, an intriguing question has been brought up:
is investing in Bitcoin as good as investing as gold?
Bitcoin vs Gold, what is a better investment in your opinion?
We can't say for sure that investing in one of those is better than another. Because gold is a safe-haven asset against inflation with less risk while investing in bitcoin could be very profitable if someone buys at low and sells at high, and vice versa for people who buy bitcoin at the ath then the price crash gradually decline. Nonetheless, investing in bitcoin for a certain time very likely to gain more profit than invest in gold. |
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I think there would be a correction, but it would likely be a minor one. I also agree that the seasonal cycles of pumps and dumps, would soon give way to a more matured and less volatile market; so rather than having a period of pump followed by a long retraction which lasts long with the market losing 50%+ of its value, we would experience a more balanced market with less volatility, a minor correction (<30%) would still most probably occur between spikes.
We can anticipate bitcoin to confront correction at $20k, however it should be less than or max at 30%, it would be $14k at the lowest support level. Nevertheless, $20k isn't the limit for bitcoin in this year moreover in 2021, according to many predictions and technical analysis, bitcoin could be able to reach at least $50k in the next year, so prepared for some corrections but don't sell all of it. |
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There are two lessons here: First, land, buildings, etc., are fixed/illiquid assets, and it usually has the largest proportion of one's wealth. Second, diversification is good, and Bitcoin is a form of money. So we can use Bitcoin to construct a portfolio of liquid assets (money or near money). My guess, it was his "gambling money" since the amount is less than 10% of his net worth. But, it is still good for adoption though. Yeah, 10% of liquid portfolio isn't that much to lose, doesn't mean he invest with intentions to lose his money, we can assume, he just testing the deep of the water. While make it sound through media makes other investors consider bitcoin as a diversification for a short period or long-term. invest in bitcoin at the current price isn't too late as bitcoin seems to have a great chance to at least reach a new ath over $20k in a few weeks and $50k within months. |
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Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
The financial system and cryptocurrency are tools for people to transact and move their funds, it's not against each other, both coexist to provide more alternatives for us. There are several advantages and disadvantages for both systems, hence both should be used to collaborate in order to complement each other's deficiencies. Although not all countries issue comprehensive regulations regarding the use of cryptocurrencies, several governments have issued rules regarding cryptocurrency transactions, although most govern transactions on exchanges, kyc, money laundering, and taxes. |
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