I do not think that if we head back to $9500 it will be any better in the short term. The more often the horizontal support gets tested, the more likely it is that we will penetrate it and visit much lower levels.

If you look at the descending triangle of last year, the current one looks kinda similar except for the fact that we haven't had a test of a major moving average on the weekly yet.

The 21EMA on the weekly is currently touching ~$9100 which will be what I am focusing on. A close below that on the daily, preferably on the weekly, is going to be the confirmation for me that we're done rallying.

Not enough people care about it to have it weigh in. Also, most people think of LN as something still in development and that it needs many more years to finally launch so that we can use it.

It will take off once exchanges start to expose their users to it by accepting LN deposits and withdrawals. Given how low the liquidity is, and how small the amounts are that you can move back and forth, this is going to take years.

By the time LN is no longer the beta version that it is today, we might already be using another second layer that is much more effective and way less convoluted to get into as average joe.

People here not being a financial expert isn't so much a problem. The real problem is that people here are so moon boy'ish, that they in most cases tell you what benefits their positions, which is to keep your coins.

Finding unbiased information here is like searching for a needle in a haystack. There is no shortage of people predicting $20k before the end of the year of even $100k just before or after the block halving.

If you tell people that the price might revisit $6k in the coming months, you're suddenly someone who's spreading fud just so that people sell and you can buy lower. That's basically the mentality we're dealing with here.

I'm actually not sure who is more mad, CSW going nuts like he has always done, or people and news outlets that continue talking about him. We're literally doing him a favor talking about his toxic practices.

Less toxic, why for example do you think Peter Schiff is continuously talking about Bitcoin negatively? It makes him the main topic of discussion. His social media following has grown significantly by bashing Bitcoin.

We are the nutters here, not them. They are effectively leveraging our combative attitude towards anything that doesn't align with our vision of how everything should be in this space.

That makes no sense. Not in a hundred years will someone transfer a billion dollars worth of Bitcoin to a non compliant exchange-- heck, no one will even send such a high value to a compliant exchange.

Most of the whales who are genuinely interested in selling a large number of coins, do that by sending a portion to Coinbase, a portion to Bitstamp, etc. All to not lose a lot of money unnecessarily due to slippage.

The pump from $4000 to $5000 was said to be initiated by simultaneous buys on Coinbase, Bitstamp and Kraken. It's to get the most bang for their buck. Using just one exchange will cost you millions with such buy orders.

CEX hasn't been any better looking at how many complaints I have seen about them since 2017. Their support seems a bit more responsive though, and they do have a forum rep here that pops up from time to time.

I would rather have a bit more patience and just stick to Coinbase or look for a smaller exchanging service. Smaller exchanging services tend to have much better customer support too because they don't deal with large volumes.

If you really want to look at other spot exchanges then Kraken, Bitstamp and Gemini would be the next exchanges to focus on, though, neither of them is going to offer reliable customer support.

OP is rightfully worried about the reason for these coins to be on the move, especially with how OKEx doesn't usually transfer coins that way. I hope it's just an innocent internal storage transfer but you never know with this exchange.

I would never recommend anyone to use either OKEx or Huobi. Both have been equally as crappy throughout their existence. OKEx even seems to be supportive of BSV, which is another reason to avoid dealing with them.

Possibly. Most people (me included) who used shapeshift never really had a problem with them until they forced people to verify themselves. I'm sure they lost at least half of their users after KYC became mandatory.

I find $10 a bit on the lower side still. KYC verification mostly takes two business days on average, so it's not like they're offering you an instant bit of free money. The offer at the same time is one of the lowest I have seen so far in crypto.

I have nothing against shapeshift but they lost their advantage. People who are verified on spot exchanges can already convert one coin into the other. Their advantage was how fast they were without KYC, but that's over.

You are right, but there is a but. My sub $4000 entry points at today's prices have a virtual ROI of 155%, BUT the thing here is that virtual ROI is meaningless if you don't actually sell or spend any of these coins.

OP has bought and sold repeatedly to capture the profits. It's definitely more risky than simply hodling your coins through a bull run, but the Bitcoin bull that I am will also hold during the crash afterwards down to its new bottom.

People however shouldn't focus too much on that 78% ROI that is pointed out by OP because it just as easily could have been way less. There is always a factor of unpredictability that can work against you.

People have been warned so many times about the risks of using an exchange as their wallet that it's almost as if you're talking to a wall. Most people just don't get it and will keep burning themselves because of their ignorance.

We also have a group of people who think that after an exchange hack the security is upgraded to such a high degree, that they assume that it has become a fort knox and for that reason won't be hacked again.

Another fairly common stupid "security measure" is that people don't use just one single exchange as wallet, but like three or four. The logic is that if one exchange gets hacked, then the coins stored on other exchanges are still safe.

It was to be expected with how low the volumes were today. We got an uptick on low volume that just wasn't going to hold, where the weekend made it even less likely for the price to break out.

CME closed the day in the red after a pretty firm rejection at $11.1k, which I think is healthier in case we do see the price bounce back up tomorrow. Most of the gaps we have had have always filled quite consistently.

Currently we're still being supported by the 21EMA on daily chart, but I'm not sure how long the price can be held above $10k-- one more sub $10k dive might lead to a massive dump where we take out the $9k mark.

It really depends on what time you invest in altcoins. The high risk you are talking about we have seen hit people hard this year-- a lot of the altcoins have gone down over 50% in terms of their BTC ratio.

People believed that when Bitcoin would start correcting altcoins would start to regain the lost market share, but that hasn't been the case so far. Almost every Bitcoin dump lead to an altcoin dump instead of a pump.

And then we have a lof of people looking at the 'low' altcoin prices and think they won't be going down any more. Reality is that they can go down a whole lot more than what people consider super low already.

Binance is known to collect donations for various charities, so it would be cool if they took the initiative to set up a rainforest charity fund. CZ with his influence could gather a million without too much effort.

If you're referring to BitPay blocking a $100k donation, then it's not really the fault of BitPay. They have changed their terms to comply with legislation. In this case it's the fault of the person donating.

Every compliant payment gateway would have blocked that donation and ask for more information. I can't wrap my head around the fact that someone doesn't read the terms before sending such a large sum of money.

I don't think it's fair to compare decentralized mixing with decentralized exchanges. The latter will not ever take off to the degree people want it to take off because most people have no problems with KYC verification.

Thousands of people have even sent their personal information in form of ID scans, utility bills and bank statements to shady ICOs just to participate in the initial token sale.

Mixing has always been a niche, especially with how most people aren't aware of how valuable their privacy is, and there is still the 'I am not a criminal so I don't have to use a mixer' sentiment amongst these folks.

Every country has its advantages and disadvantages. I for example am taxed annually over my net worth even when I haven't utilized it. It's ridiculous to pay tax over the same capital over and over again. It's pure theft.

More positively speaking, I am not being taxed when I spend my Bitcoins, regardless of the amount. This allows me to legally avoid taxation. Not many countries in the world are that lenient on spending Bitcoin.

I'm not aware of your net worth, but if you consider the option to leave your current country then I assume it will be more than worth it for you. I can't see myself do the same where I am in life.

The altcoin space seems so depressing that Binance came out and said that they expect Bitcoin's dominance to go back down to 60 or 50%. They make most of their money from altcoin trades, so this is very bad for them.

It's going to be interesting to see if altcoins will yet again face a massive selloff when Binance stops serving US residents next week. In this specific case I don't mind regulations to clean this space from all the garbage coins.

Smart traders and investors have sold their altcoins to Bitcoin the moment critical support levels were broken, while the yolo get rich quick noobs think it's a good thing to show how tough they are by hodling them.

Buy the dip is quite overhyped within crypto. People think that you have to buy every single dip without looking at the charts to see how much more potential downside there is. In 2018 people rekt themselves hard that way.

If you know how to read a chart and lower your entry points you'll develop a much better buy the dip strategy. Buy the dip has become a meme due to all the noobs that kept buying the price down from $20k to sub $4k.

Amazon will not accept Bitcoin unless it has proven to be able to process hundreds or thousands of transactions per second. The volumes they generate are insane. Bitcoin doesn't stand a chance unless LN grows much bigger.

PurseIO allows you to purchase items through Amazon and use Bitcoin to settle the payment with a pretty discount, but the downside is that you're then filling the pockets of Bcash'ers following every step of Roger Ver.

It's more likely for Amazon to accept Libra (if it ever sees the light) than Bitcoin. People have been dreaming about Amazon accepting Bitcoin for many years and it seems that the dream will last a couple of more years.

Of course hashrate matters. It's everything. If suddenly a large percentage of the hashrate is gone, it means that it will take the miners that are still actively mining much longer to find blocks.

If it takes longer for miners to find blocks, it takes longer for the difficulty to be adjusted so that the block times become normal again. It then also leads to much lower transaction throughout for obvious reasons.

In the same way, more hashrate being added means faster block times and therefore faster difficulty adjustments. I find it a bit disturbing to see how easily you wipe the hashrate aspect off the table.

He probably should have put the emphasis on Bitcoin not being functional as currency for the mass, but it's perfectly usable as currency on a smaller scale, which we here on this forum have proven for years now. It works.

What I like about Jack is that he is putting money into development of LN, which isn't something you see wealthy Bitcoiners do. What has Barry Silbert done for Bitcoin in that regard? I don't recall him financing development at all.

Jack allocating money to LN development means that he is serious about getting Bitcoin to reach that mass currency stage. I really wish more wealthy Bitcoiners did that instead of just waiting for the pride to go up.