If any of you invest because of Musk's tweets don't come crying when you lose money. In fact you deserve to lose money if this pumper is your mentor. Nobody uses Dogecoin for anything but speculation. You can make money holding it but there are better coins out there if you want to invest. why elon is doing this?
Because he's autistic... |
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No way. stablecoins are like fiat money. there is a reason why they are called stable coins. there value increases due to purchasing power and decreases when not in use. bitcoin is a store of value just like Gold where any one can invest and wait for long term. it is an investment and a long term. Also it depends on what na dhow the investor tends to use it.
Stablecoins don't have to depend on fiat money. They can depend on other things like gold or real estate. If we get coins 100% backed by real assets instead of fiat they will be very useful and can take over that part of the market that now is XRP. For now I don't see how fiat backed stablecoins can be anything but a trader's safe haven. |
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They will be lost forever and add decrease the number of coins in circulation, making bitcoin even more scarce and more valuable  Maybe my family eventually comes up with an idea o access my wallet. The password is going to be among my private things o hat if they are thorough enough they'll do it with ease. Frankly I hope to be able to spend all my coins before I die so I don't think about other people accessing my coins when I'm dead. |
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I think it's because bitcoin is a relatively new concept that they have a difficult time wrapping their heads around. But they typically use fiat to make more fiat, introducing a crypto currency accepted globally undermines their purchasing power by taking away their fiat demand.
It's just like you said. Many of them were negative at first but then changed their minds. The guys from Shark Tank are one of those. Mark Cuban thought it to be a ponzi scheme at first. I don't remember exactly but he said something like that about 5 years ago and now he owns some bitcoins. Kevin O'Leary said in 2019 that bitcoin is useless and now he's planning to invest in green mining. These guys need a bit more time than we do, they're a bit slow and scared because they've seen many scammers in their line of work  |
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If there was no Bitcoin I'd probably be working my ass off to pay the bills and I'd be more scared. I'd sleep less and be more tired.
I wouldn't be able to say no to a job and simply pick the better ones out there because I wouldn't have this much savings and a small income from forum campaigns.
In a way Bitcoin saved me from having to live a hard life. It gave me choices I wouldn't have otherwise.
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This doesn't look like anything other than the same trend as the past 2 months which is going sideways even though the range became bigger in the past couple of days. The significant level is still $40k and until it is broken we will continue seeing price testing it and coming down then testing it again.
40 may look significant to you but it's not. The real important level is 49000. Going back to 40 would only be the beginning and could quickly turn into a dead cat bounce which we still didn't see in this bear market. That is of course if it really is a bear market and not a correction in a bull market. Going to 50000 and falling back to 30 would be a pretty normal fakeout so don't get your hopes up for a new ATH until we stay above 50 for a few weeks. |
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And third, regulations! It's one thing to run a mining farm in China, where you can do your own wiring and not care about inspections, and a different thing to try this shit in the EU. By the time you finish with the paperwork you two more halving have occurred and Bitmain is already at S61 with the gear. And all this paperwork costs money, money, and time which are essential.
And on top of that you need someone who knows local laws and speaks local language well enough to understand technicalities. Probably half of the citizens of every EU country have no idea of the laws and requirements to start a business and wouldn't know what permits are for what and which of them have to be filed where and at what deadline. Starting a business abroad is hard even if you speak English, which is supposed to be the universal language. |
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Its not an opinion. He is basically begging you not to sell. In other words he would like you to lose even more money. When you have friends like that, who needs enemies.
LOL are you for real? If you bought high and watched it go down to 50, 40 and now 30 thousand, the worst thing you can do is sell now. I know it's hard to comprehend if you're full of negativity but it's the truth. When you trade you have to make decisions fast and don't let emotions guide you. Selling when something lost 50% of its value is always a bad idea and even worse when its fundamentals are intact and the loss of value comes from someone's tweets and media spam. |
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I dont think China fake news will decrease the price of market,in my opinion its just to refill their wallets of bitcoin and just sell after they release positive news and the price explode
I feel like they want to discourage people from using crypto and make them use chinese centralized cryptocurrency. It's not like this was something unexpected. We all knew it was going to happen. The price did react because miners were forced to sell their saved up coins to be able to flee china and buy or rent places abroad. Nothing to worry about |
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The sentiment is always too positive or too negative. When they see it go to new highs they always think it's going to keep rising forever and when it drops they think it's going to stop at some crazy low values like 1000 USD which always makes me cringe
Bitcoin is going to keep growing in value because everything about it grows.
Users
Addresses with positive balance
Hash power
nodes
Lightning Nodes
Exchanges
Even power consumption that people see as something negative but it's the indicator of growth. Bigger factories also use more power than small ones.
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This is truly a missed opportunity for China!
The problem these guys have is they want to control everything
in their way,, and if they understood that cryptocurrencies are successful because they aren't under the sole control of one entity....I don't think they would be introducing a state owned coin because frankly I don't see it being as popular as decentralized coins like bitcoins.
This makes one ask if these guys even consult before making these decisions, do they have millennials to give them an insightful view of how crypto works...anyway these will be on the wrong side of history.
China is a crazy country where you can get executed in public and where they show off people on a death row to the public on stadiums. I wouldn't even try to explain their actions. It's important for people to understand that even if all mining in china were to shut down on the same day the network wouldn't become compromised in any way. Even if blocks slow down for a while it's not a bearish sign! What you're seeing is miners being forced to sell the coins they were stashing to have enough money to move their operations abroad. This was to be expected for months if you lived in China. All attacks on the network are a bad sign but they also make it more robust. Chinese government is stupid to think that banning all other cryptocurrencies will make people use their own centralized coin. The leaders are spoon feeding shit to their people and sooner or later they're going to puke it back at them. |
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Those who advocate hodling, when do you cash out?
I mean, dying hodling is not the plan, is it? Eventually, you'd need to enjoy the fruits of your patience, right? When is that, when someone says "hodl"? Is it a savings plan? A retirement fund? What does it mean to hodl?
Never. Why would I cash out? I don't need to exit into fiat money if I have a currency that appreciates in value, can be held as long as I want without the risk of theft and can be spend in stores without me having to pay taxes. I'll convert my coins into goods whenever I feel like it. I'm in profit more than 400% so I don't feel any pressure here. |
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It's now $32k plus while posting this I didn't even witness the $28k drop price. If you've bought while at the price of $28k it might you've already your profit now. Bitcoin was in a V-shape formation and the fast recovery was about an hour ago seems like when Bitcoin dropped. Sad to say that most of everyone here predicted below $25k below within this month, whereas I don't believe that it won't happen. Even though the announcement of China was really shaken the price of Bitcoin but as we saw now there's a fast recovery which we think that the whales were successfully manipulated the price. But if you are long-term holders, there's nothing to worry about. I also did not even watch it happen. I don't care that much about short-term volatility. I sometimes check the price in the evening, before going to bed, but that's not every day and I try not to watch if I'm not planning to sell. People predicted even 20 thousand because it's possible that we'll go back to touch the previous ATH but because so many people wait for it to happen it's probably not going to happen. Too many buyers would want to buy at 20 so maybe 22 thousand as the lowest possible price of this correction before we at least try to go back to the top? It's strange that we did not go back to retest 100 day MA yet that is at 50 thousand USD. In the last bull market of 2018 we did confirm the bear market by bouncing back down from it. Maybe this correction s not natural but driven by news? We should at least go back to 50 thousand before we fall lower. |
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Governments understand the value of bitcoin, and that's why they do it.
Most governments do not and will not ban Bitcoin. Many people see the value and possibilities in Bitcoin like the President of El Salvador or the governor of Texas and other politicians who support Bitcoin. China was always one of the most authoritarian countries in the world. Do you remember what they were doing in Tibet? How they're threatening Taiwan and Australia and how they were developing new viruses in Wuhan? It's a country that still executes prisoners in public. It's really nothing new that they're opposing every bit of freedom in this world. |
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Earlier, the dump that happened was already under $30k, and many people panicked because of it. even though the bitcoin price is now above $31k again, almost all altcoins are still affected by the recent dump. I think, in order to recover the market, the bitcoin price needs to go up and stay at $45k, and I think the altcoin price will start to recover.
Price would be above 43 thousand if there were no continuous bad news flowing through. This is a set up made to dump the price as much as possible and I'm not going to dance to heir music. We were at a top showed by a pi cycle indicator and most traders saw there was a weakness and lack of buyers above 60 thousand. Think about it for a second. There was no FUD when we were breaking 30, 40, 50 thousand and then everything started all at once. Musk hating on bitcoin, the sec considering regulation and china banning mining. |
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I don't really care about the big dump because i want to hold my assets for very-very long term and my goal for bitcoin is more than $100k, i know it will be very long ride but its ok, i don't really need that cash right now.
Its easy if you didnt need cash, sadly most of us cant hold with that condition. Do you have plan to averaging down while dump happen or just a pure hold till the price pump? I always make sure that I have enough money saved up to survive 2 years without having to sell anything. The last bear markets taught me to do so. There are some things that you can be certain when it comes to crypto. One is that it always comes up and down, so if you feel bad and at a loss just hold it and it will eventually go back up. The other that when you feel like the world is coming to an end because you've lost like 60% of your money it usually means that the sell pressure is coming to an end. Don't make the mistake of selling when the market is down 60%. |
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No, he doesn't manipulate the market through his tweets but all those ideas made several people rant on their assets.
OH, so that's why the SEC is after him and that's why he had to pay a fine to them 2 years ago, because he doesn't do anything wrong and it's all people saying bad things about him. Elon was only speculating, and I believed that he also holds bigger quantity of cryptocurrency.
Yes, he was speculating for his own benefit and at other people's expense. |
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Why wouldn't it continue to soar in case that happens? Early on, Dogecoin was made just for fun. But now, things have gotten really serious. Elon Musk helped it rise a lot. Now, it is a well-known cryptocurrency.
Musk helped it rise and then he helped it fall. Whether you'll see dogecoin soar will depend on the price you bought in. It will probably pump again but whether it'll go to a new all time high is another thing. Manipulation like the one Musk did scares off investors and makes them avoid an asset. IMO musk did more bad for doge than good. He mad it pump fast but destroyed the image of the coin by doing it. |
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It seems that, I often see the same movement between the two, it looks like bitcoin determines the direction of the altcoin next time, you can see for yourself, if understanding this secret it seems like trading cryptocurrency is not difficult. but you have to know when to enter and not greedy.
And there's a simple reason for that. The market depends on investor attitude and bitcoin is the trust builder. If Bitcoin falls it's seen as loss of trust towards cryptocurrencies and people get rid of everything. Laws around the world are also made for Bitcoin but they affect the whole market. If a country bans bitcoin it will probably also ban altcoins, but if it legalizes bitcoin it will not make altcoins illegal. It works both ways. |
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