I would like to believe that the technical analysis always works. I know that it is very useful in short periods of time - a few hours, a maximum of a few days. Unfortunately, long cycles on the cryptocurrency market are different from the behavior in large markets, where technical analysis works. I hope that when the crypto market cap grows a dozen or so times it will be a useful instrument for longer periods of time.
I don't think this is a problem for Bitcoin and the larger coins. There is sufficient market liquidity such that all classical TA applies to Bitcoin just as it does to stock indices or commodities. The long term is actually much easier to analyze than shorter term (day trading) time frames. Over short periods, the noise-to-signal ratio is very high. I find that signals based on 1-day or 1-week candlesticks are very reliable in Bitcoin. Also, TA will never always work. It's not a crystal ball. It helps you know when reversals are occurring, when to cut losses, when trends are being established, etc. but it's inherently about hedging risks and probabilities. There is no 100% successful method. I agree with what you are saying but with the addition that if for example TA works 80% of the times in other markets like stocks market then it means TA only works 50% in bitcoin market because of the size of the market and the severity of the manipulation that exists here. here I chose 80 and 50 numbers arbitrarily but the point is that effectiveness of TA is reduced in bitcoin market to a point where most of the times it raises the question of why bother with it. |
|
|
|
|
bitcoin's bullishness is not going to look like this ever! it will be a big shoot up to above $6k from this $4kish price and that triggers the come back of money and investors to the market as the manipulation is lifted and the price is allowed to rise as whales either run out of bitcoin to dump or fiat to dump for bitcoin off the market.
|
|
|
|
the network is just too big to just shut down because of holidays! not to mention it is global and not the whole world is celebrating Christmas. on top of that many nodes are hosted on servers (like Amazon) which will never shut down. and if that is not enough there are a lot of businesses that run 24/7/365 that run nodes as long as they are up and running. if you can't find connection the first assumption should always be that something is wrong on your end, which in this case it is. simply go on one of these sites that were mentioned in this topic, take an IP address of a well connected node and use the "addnode" RPC command to add it manually and see what happens: https://bitcoincore.org/en/doc/0.16.0/rpc/network/addnode/or use one of the fallback nodes: https://en.bitcoin.it/wiki/Fallback_Nodes#IPv4_Nodes |
|
|
|
this "lie" is nothing new. it has been a couple of months that people have been spreading similar stories online about bitmain and so far we have not seen anything happen. about 3.5 months ago a big story began about how Bitmain is bankrupt and is going under and nothing ever happened. now it is again starting with a random tweet from some random dudes on the internet and is being spread like wildfire on the internet  I think it mostly started when they created bcash and then intensified when they started their IPO. all the while Bitmain is earning millions... |
|
|
|
many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle.
you pointed out one of the problems that bitcoin has been facing, it shows itself as volatility but at its heart it is this. bitcoin is being adopted, and as that grows the price grows and with it comes big profits. as a result it attracts a certain type of people who want that profit and nothing else. this group increase the volatility of bitcoin which was supposed to be a currency and that damages the adoption and slows it down dramatically and also makes bitcoin harder to be used as a currency. |
|
|
|
|
I opened this topic excited to see some juicy drama in it but I was disappointed to see OP is just quoting the price and probably showing the fact that he didn't have much of an idea about what he should do in bitcoin market!
besides as it was mentioned perfectly earlier you shouldn't even be asking what "people" think. for all you know they are misleading you so that they can make more profit themselves. it certainly is a clear case of these days as everyone is trying to convince others that the drop is not over which is pretty strange if you ask me considering we are in an 80% drop and below a major buy support!!!
|
|
|
|
|
bitcoin has always been a game of big ups and downs and only a handful of wiser people who accumulate during the dips while enjoying the big rises that come afterwards. the holding is only true and working if you are among those who accumulate during the times when every idiot on the internet is talking about how bitcoin is dead and then sell a small portion of the coins you acquired cheap back to them at a higher price when they beg it from you!
|
|
|
|
|
being on a downtrend doesn't mean you can't make profit. being in an unpredictable market means you can no longer make profit. for example in case of bitcoin there was no way of predicting price fall below $6k that could last but as soon as it started and the manipulation became evident price crashed below the major support line and by then you could be sure that it continues more. and that could have been your chance of making profit before we enter the unpredictable stage again where you can't tell when the manipulation would be over to let the price shoot back up again.
|
|
|
|
you can't say that amount has "entered the market" because it hasn't. like many other premined altcoins, these coins are also considered premined and like all of them their "market cap" which you are basically reporting here is fake too. what "enters the market" is the volume that is being in use not the total coins they have created. It's elegant way for institutions to buy crypto assets, without big reliance on BTC.
why would anyone in their right mind would want to do that?!!! there are going to be two categories of those who enter the market: 1. those who want to enter some altcoin for some weird reason! these will buy it directly with fiat since there are enough ways of doing that. using these centralized tokens means paying twice the normal fees while taking a huge risk of using something that is NOT stable and can disappear any moment! 2. those who want to make profit on their bitcoin. they obviously don't care at all about these centralized tokens unless they want to transfer funds between exchanges in which case they would use the most liquid stable coin which happens to be Tether! |
|
|
|
That's just a coincidence.
it is not a coincidence anymore it is people's expectations that shaped this trend exactly like the previous one! in other words there is absolutely no similarity between the two scenarios, as you said it was MtGox and all that back then and there are a lot of other differences that makes them completely different. but the problem is that majority of the market participants were speculating purely based on previous trend and have been expecting it to happen. about 12 months worth of speculation is documented on this forum, reddit and tradingview where people tried so hard to put the two charts on top of each other and will the market into going that route. and guess what, when enough people speculate something it actually happens because they will not just speculate it, they will also sell because of it and wait to buy back when their targets are reached. |
|
|
|
|
that is kind of an obvious statement to make in my opinion.
you may not know where the bottom is or when this manipulation is going to be over. or you may not have known when the rise last year was going to end and when the ATH due to FOMO buys were going to be. but with bitcoin, one this is always certain. and that is the fact that it will continue to rise until it reaches mass adoption. and looking back at the 10 year history you can see that bitcoin is staring to form up repetitive cycles. and as much as I hate saying it but it seems like history is going to keep on repeating itself.
what that means is that we will see 2-3 years of rise with a final huge rise and huge bubble which bursts and the market enters a prolonged bear mode before it starts rising back up again.
|
|
|
|
It has already dropped lol! Price is really flaky right now, but to get it to a new higher floor is good news. $4000 is much healthier than $3300 where it was tantalizingly close to a serious death spiral
Exactly, the price is now just hovering $3800 so the celebration was short lived. We did touch $4000 however, there's not enough momentum to push to $4200 levels and support @$4000 is not that strong that's why the price easily goes down. We might see it tank again for a long time, unless manipulators play with the market again to cause newbies to join and enter the market thinking of a imminent bull run, which they all have been waiting for. once again it proves the uncertainty and the fear that exists in the market because of the previous couple of months of manipulation. people always focus on the price and the profit they can gain from each drop and rise but they forget all the damage that the manipulation is causing in the market and to bitcoin itself. the volatility, and the uncertainty has nearly halted the adoption |
|
|
|
Let's all be prepared ,the way I'm seeing things I think bitcoin hasn't find its bottom yet ,I'm guessing around 2500$ before we see better recovery ,always remember cryptocurrency is never for the weak ,be prepared and do what you do best ,things will surely turn around but good things never comes easily .
So you think a 2500 USD price is "the worst"?Are you kidding me?Last week,many people here were predicting a 1500 USD price at the end of the year,I don't even think that a 1500 USD price is something bad. Just don't be so pesimistic.Haters will always hate,fudsters will always FUD. most people who start a topic like OP or comment on the price, are not sharing their speculation about what price can be. they are instead sharing their wishes about what they want price to be. and that is the clear case of this topic. OP is calling it a "guess" but the correct word is "wish", he is wishing for price to go to $2500 for whatever reason. the problem with times like this is that market becomes unpredictable. we have seen price drop sharply down and a couple of days ago we saw it shoot up in a big ass green candle! |
|
|
|
the emerging waves plattform will make it easier to aquire cryptocurrencies, its however still quite though to load your account with communal fiats
that would still require you to convert your fiat to some other digital form (crypto token) then use that to enter that platform to trade. so the step one is still the same and that means it is changing nothing apart from introducing a nice platform for traders who want to do some decentralized trading while having anything but fiat. |
|
|
|
next publishing is going to be cryptography for kids where they teach them the fundamentals of cryptography and cover topics like hash algorithms and number theories. so in a couple of years we are going to see kids that are still waiting for their potty training but can encrypt secret information better than NSA |
|
|
|
the link says "can not be found"! While it is true that the 2017 bubble was the largest in Bitcoin’s history,
was it really the biggest bubble? note that being a big bubble is not about being in the highest price but having actual big BUBBLE. I personally consider $10k to $20k a bubble which means it really wasn't that big. in fact it can be considered one of the smallest bubbles. even if you consider current price as the bottom and take the 80% drop as the bubble burst (which it really isn't true) that still doesn't make it the "biggest" because we have had bigger bubbles in the past. the market capitalisation of both Bitcoin and the cryptoasset ecosystem still exceeds its January 2017 levels –-
I am sure this will happen for bitcoin but it will not happen for at least 80% of the altcoins and the rest of 20% will have an extremely hard time to reach their previous ATH because most of them have already lost their place in the market and are being replaced by newer altcoins. |
|
|
|
A precise transaction of 249.999 BTC is something very unusual.
Well, actually there are also 299.999 and 199.999 transactions there too. And yep, I'd say the same. Somebody (person, institution, consortium, whatever) is accumulating. And the 0.999 part most probably comes from deducting the withdrawal fee by the exchange. this has been going on for a while actually. I have seen many cases of this recently which is why I mentioned the possibility in my above comment. there are many big transactions like this and when you follow them back you rarely find any of them link to an exchange wallet which proves this new sneaky way of accumulating bitcoin without letting the market find out about it and go up. |
|
|
|
This might suggest that there will be a surge for BTC and other cryptocurrencies?
why "other cryptocurrencies"? this is bitcoin moved and no it does not suggest that at all. neither does it suggest a drop. people always tend to get over excited about seeing a large amount of bitcoin moved (this is not large though lol). generally all you can say about these transactions is either: - a service is moving coins in or out of their cold storage like exchanges combining lots of inputs into one and putting it in one place - a whale bought some coins and moved it to their cold storage. which is usually them buying coins off the market so that they don't push the price up, they keep it low while buying elsewhere... |
|
|
|
No one deny that he did not receive money. There is no scam in bitcoins if you have the bitcoins in your wallet it is 100% yours.
This is inaccurate, there is scam in bitcoins, and your wallet can be hacked amd your assets stolen. Never 100% trust any system or technology. Just maintain the highest level of security. he is talking about confirmations and the fact that bitcoin does NOT have a charge back option which means when a transaction is confirmed and is deep enough in the blockchain (usually that means 3 confirmation but 1 confirmation is 99% safe too) there is no way it can be reversed so the certain scams that involve charge back are not possible with bitcoin. you are talking about getting your wallet hacked which is not a bitcoin related problem. |
|
|
|
|
that is a very unfair comparison, unfair to stocks of course because when it comes to profitability you can not compete with a new up and coming technology like bitcoin that has huge growths each turn like last year and still has a lot of potential to grow a lot more. of course that comes with higher risk but the reward is high enough to justify taking the risks involved.
|
|
|
|
|
Show Posts
