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Clearly it will not, the cryptocurrency doesn't have what it needs to replace fiat currency, trusted by everyone due to the biggest flaw, manipulation. The crypto world still in the early phase of development and will take more than a decade to become a stable market. The government may issue their own digital currency using blockchain technology.
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For starters. Try to study technical analysis. Download TradingView app in playstore or go directly to their website. They have a good tool for TA especially for newbie. There is also some ideas available there from pro traders that you can use as guide on your trading. MACD and RSI is the most basic and effective tool for newbie in trading.
Agreed, learn from experienced traders who share their TAs and prediction regarding bitcoin and other coins will be very helpful for beginners. Learn the basics of TA and mathematics, statistic, then applied it to the trading strategy, note everything even mistakes to create a better strategy. |
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yes people continue questioning and doubting the future of bitcoin especially when it comes to questioning the price movement these poeple always in hurry making conclusions, they think it was a real bubble when the price skyrocket from $500 to $20000.
and then suddenly make a decision to sell the coin they have on a discounted price like we see now.
That will happen repeatedly as most people see bitcoin as a trading object to obtain profit until the point bitcoin spread widely among people all over the world and fewer whales rule the market. Anything that pumps significantly within a short period will plummet in a hard way like in 2017. |
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There is nothing he can do against the current situation of bitcoin in the face of regulation as it has been set on stone, as long as people pay the taxes. Two conditions that may happen, bitcoin acceptance growing positively or be restricted to use it which unlikely as we have seen it before, bitcoin is unstoppable. And the government could extract the money from capital gain, win-win solution.
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^ But but what if a 3K sudden pump occurs?? I wouldn’t mind at all  Hahaha, I wouldn't mind either  5 days to go.... I'll place my bet on you @dragonvslinux $7187 on bitstamp atm. |
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$10K still far away ahead, bitcoin failed to breakout the resistance level recently, more likely the price will stay at this level $7xxx until the end of the year, 5 days left. The bitcoin market really volatile right now, the price constantly changing $100-$500 within minutes, one minute ago it was $7600 and the next minute it's $7200.
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Bitcoin is many things, some treat it as an asset, as a commodity, as a means of payment, or as a trading object.
Anyone can manage his bitcoin as he pleases, others can not order someone to just save or spend the bitcoin that he has.
I'm sure that most people in crypto-sphere buying bitcoin at a cheaper price and hoping to sell it at a higher price for profits, that's okay as well, just do whatever you need to.
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The sentiment in the bitcoin market already changed from "sell" to "buy" which show that the price increase over $7600 today and probably heading towards $8K and then $9K according to godmode technical analysis by dmwardjr, his analysis pretty accurate and interesting to follow his decision. Don't miss the chance, buy while it below $8K. |
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What happened in 2017 still arguable whether the market rises due to normal demand activity in the market or manipulation from a single market whale and using usdt. According to a Bloomberg report, two academics including Professor John Griffin from the University of Texas, and Amin Shams from the Ohio State University, jointly published a paper in 2018, which suggested that the 2017 Bitcoin surge was a result of market manipulation and not a natural market movement. sourceThe market still far far away to be claimed mature, susceptible to manipulation of whales, probably take another 10-20 years to make stable market, where the coins spread widely among people. However, what happened in 2017 more likely repeated in the next year or a year after the halving in 2021, reach a new ATH. |
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I prefer https://www.bitcoinblockhalf.com 143 days left, rather than binance 129 days left. Bitcoinblockhalf provides better information regarding bitcoin countdown with additional information such as total blocks and total bitcoins left to mine until next blockhalving, which used to predict the exact date of bitcoin halving on May 14th, 2020. |
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The best thing to stay away from most altcoins which classified as shitcoins, just pick some famous which tend to follow bitcoin path whenever it surges. Do not fall to the trading group advice to buy some altcoins, just check information regarding the development and acceptance or utility of altcoins, buy and be patient, it takes time to make a decent profit, that's why day trading isn't really profitable for small fish, whales who take the most.
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https://m.imgur.com/gallery/AGfUKag
📊 Why did I decide that?Because if BTC will dump to test the $6,000 support I will open another long position in order to have the liquidation below $5/4.5k as far as possible from the MA 200 on Weekly TF. It seems more likely not happen, there is no winter but summer is coming instead. Bitcoin briefly drops to $6500 but quickly rebound above $7000 even before I could buy the dip, thought it was going to stay below $7K for a few days but it didn't. We can expect to close the year with the price range within $7K-$8K, I guess. |
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Most likely not, even though there is a trade war between two mega countries partly to blame. The effect is just a global economic slowdown but many countries still in good condition and could manage to generate positive annual GDP.
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So recently the market has lost 30-50B in market cap , So i'm assuming that institutions are buying BTC and then dumping it on the market whilst shorting it. If they made a bunch of Fiat Backed Crypto currencies (Through "QE") , Couldn't they just buy up the tokens , Long the price and then Sell the tokens and short it down again? Is that what is happening in the market right now?
Is there a better metric than Market Cap or is this the only metric that is used to measure the actual value of BTC ?
Correct, huge influx of money from institutions could change the market cap if they trade on exchanges, buy so much bitcoin then dump it next week, the price will change significantly, however, the price may differ on other exchanges as the transactions only occur on one exchange, it happens a lot. I wouldn't really care about market capitalization metric to measure the actual value of bitcoin, simply judge it by the supply and demand on the market, just check it on exchanges. |
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If we are talking about a " high quality" exchange then we are talking about company operated exchanges like Binance or UpBit these exchanges are run by companies with thousands of employees and they make sure that they have the best thing to offer for their users.
That's wrong information you've there mate. There is no way a company like Binance will have thousands of employees. If they did, it wouldn't take them ages to answer user queries or get "hacked". Don't know why one believes these are proper white label corporate companies. They're just temporary operations that have no certainty about tomorrow. I mean check their webpage they're too afraid to even disclose their team. Indeed, no need to have thousands of employees to run a high-quality exchange, even with 7-10 people will be enough for the start. The most important thing to run exchange is sufficient funds to fund all initial and continuous exchange needs. Start to offer the services within a country, taking care of legality is the main thing for running a business. However, kyc and AML policy maybe required. |
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Bitcoin is a very useful money. I think it's the best way to send money over long distances. You pay low fees and the transaction takes place quickly. I use bitcoin for this purpose. I also bought games from Steam with Bitcoin.
It is nice to send money quickly, however because of the price changes you would need to sell the bitcoin instantly. First question; how do you earn bitcoin? Since you've been using it on a daily basis for years. Don't you think using Bitpay debit card is just another way to convert bitcoin into cash? While you don't need to, but bitpay did it for you. Yes, not every merchants and groceries accept bitcoin payment, but the acceptance for bitcoin still quite low in many countries, lucky for people who can easily use it as a payment instrument instead of just keep it in the wallet. |
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BTC supplier? I'm pretty sure most of the coins are held by traders at this point in time. And miners have no choice but to adapt to how the coins are currently priced by the market.
I really doubt that theory. Who's have BTC1 Million bitcoin that he generated through the mining process the first time? Then more people mining as well, early adopters are the miners, so we can conclude the miners have so much bitcoin = or we can call them the real whales. Traders buy bitcoin from the miners but still, they (miners) have so much left in their wallets and keep coming from the mining process. |
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It's true, bitcoin suppliers generate so much bitcoin everyday and sell it in their best interest to cover the mining expenses and earn profits. Meanwhile, people keep buying bitcoin due to their interest, one hope to get profit if the price rise and some using it as a payment instrument, and others act as traders to buy and sell it for profits as well.
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Don't necessary to choose one, we need both for now.
Fiat money and crypto have their own advantages such as instant payment with fiat currency in the form of cash and no boundless transactions across the world using cryptocurrency. If we can spend crypto as easily as using fiat money and everyone accepts this payment instrument, then crypto is more convenient than fiat.
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Even bitcoin didn't fall below $6500, seems people still don't want to sell at a cheaper rate, I don't want either. Whenever the price drop, buy the dip is more rational at the current price, the year the potential of bitcoin to reach over $10K in the next year, it's $3000 profit. Then, what will happen after the halving? Bitcoin surely reaches new ATH.
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