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Bitcoin and crypto currency market is not regulated by any central agency who can step in during a fall or a correction. The crypto market shows the raw reflection of investor's emotion and speculation. That is the reason why it is more dynamic than any other market. The current fall in price is just a correction. Bitcoin went to 11k USD from 7k USD within just few weeks. No other market will have the power to do it in reality.
Lets not panic and don't spread your fear to others. This correction was necessary to maintain the upward trend. It is like a rollercoaster ride. Ups and downs are just a part of bitcoin market. There's no need to panic.
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I would suggest you to go for both. Bitcoin and ETH are two different crypto currencies created for different reasons. While bitcoin is a pioneer in the crypto world, ETH proved itself as a worthy contender of bitcoin. According to coinmarketcap website, the market cap of bitcoin is the largest at $175 billion and the second largest tag belongs to ETH at $43 billion. No other coin comes in between. Even though Dash and Litecoin was created long ago that ETH, no one could actually took over ETH in market cap.
For both Bitcoin and ETH, the future looks extremely promising. So I would suggest you to go for both. Even if you don't add other coins in your crypto portfolio, Bitcoin and ETH must be there for a healthy return in long term.
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If not HODLer, what do you choose to exit from BTC?
Fiat?
Tether?
Ripple?
Dash?
Current day coin positive uptrend?
How do you exit and stand on side line, to then re-enter?...
If I choose to exit bitcoin, probably I will go ahead either with traditional bank deposits in fiat or ETH among other cryptos. Dash also looks good for investing seeing at the upward price trend but ETH is technically much more superior than bitcoin or any other cryptos available in the market. ETH is the main contender to bitcoin if you factor in the market cap. So it genuinely has a greater possibility to become the next big thing on crypto world after bitcoin. I regret because I had a chance to buy ETH at 3 USD but I ignored. When I realized its potential, the price was sky rocketed to 300 USD. So I started investing in ETH at that price looking at future potential. So I am HODLing both bitcoin and ETH at this point. |
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I believe a lot of traders are trying to book their profit and exit from the position they had taken. That's the reason why some exchanges are facing increased server load. Coinbase is going through a maintenance. Kraken is somewhat running. With the falling bitcoin price, these kind of load was expected but at the same time coinbase decided to do the maintenance activity. I see no reason to worry just as yet. Give it some more time and every should be back on track.
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The website is under maintenance. The management of coinbase is constantly updating the status of the maintenance activity. Check the below link, https://status.coinbase.comI see no reason to worry as because the website was facing uptime issue with their servers due to increased load of new members. I don't use kraken, so probably some other member can update you about it. |
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That's treu and most of the crypto investors are aware of it. The market is reacting positively because of the positive adoption news coming from every corner of the globe. CME group is about to start their crypto futures contract shortly and many traders and speculators are betting high on it. So we all know that a correction is imminent. But we are also sure that it won't be long before the market bounds back. A little correction is needed to take the next leap and also it will give us another golden chance to score some more bitcoins at a cheaper price. The entire market is running high on positivity so the correction will only be a very temporary phase.
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Hey everyone,
I was speaking to a branch manager today from one of the top 5 Canadian banks. They were saying that there is now a directive going across all the banks that if anyone deposits money that comes from Cryptocurrency that their accounts will be frozen.
I wanted to ask you guys, especially the ones who have been into Cryptocurrency for years. Have you guys heard this issue before?
I look forward to your response.
Thank you,
BitTechNewbie
That's sad! Banks are seeing bitcoin as their biggest enemy now. The fear of loosing business to crypto currencies is engulfing them big time. However, I am sure you guys have many other banks in your country who are not a part of such a group. If possible close your account with such useless banks and move your funds to small co-operative banks. Also don't keep all your funds in a single bank account. Instead create two or three accounts with small banks just to be on a safer side. This type of hostile mentality is really sad. IT's your money and Banks don't have any right to freeze your entire funds, but they have the power to do so. So it is better you take away your business from them. |
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would you keep it to yourself or would you share the information? Are you of the opinion that he might be in danger if his identity were to be revealed?
I strongly believe that Satoshi is not a single person. Instead it is a group of talented computer scientists those who have created the blockchain technology. It is probably first ever implementation of the idea of decentralization. It's not just me, but I doubt anyone knows about this group or the person and I am sure they have done a great job by hiding their identity. Banks are seeing crypto currency as a threat to their business especially in the areas of cross border trades where a huge volume of money gets transferred every single minute. Banks believe that blockchain can take away such business from them as cross border transactions can be very easily done using bitcoin or blockchain platform. So definitely Satoshi would be in a great danger if his identity is reveled to the world. All regulatory and enforcement agencies will run behind him because organized financial sector will push the government to do so. I am sure, he doesn't deserve it. So it is better for him to stay under cover and live a peaceful life fore ever. |
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Bitcoin is gaining more global acceptance daily as compared to other cryptocurrencies. With Bitcoin, we can be sure of greater liquidity and it has made international transactions and businesses easier relative to other currency. The level of anonymity Bitcoin gives is unparalleled and the ability to transact businesses with Bitcoin at a relatively lower fee is unequalled. What do you think is needed to guarantee more wider acceptance?
Few good points you have raised. But the anonymity of bitcoin is not full proof. All transactions are recorded in a public ledger using blockchain and can be traced accordingly. So that's not a strong feature to vouch for. But yes, the cross border trades can be made easier by bitcoin due to it's low fees compared to what banks are taking nowadays. However, the transaction confirmation speed is what I believe hindering the acceptability of bitcoin worldwide by the big corporate companies. Secondly the legality of bitcoin is another issue. While countries Like Japan and Netherlands have legalized bitcoin, other countries are either silent or banned it. If other countries can legalize bitcoin, banks will face a huge loss because they won't have to mediate between two parties of a trade agreement. They will loose on commissions. So you can expect a huge protest from the commercial banks if any government plans to legalize it. That's another bottleneck for bitcoin. |
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Indian Central Bank or Reserve Bank of India is absolutely silent regarding any issue about bitcoin. They neither banning it nor supporting it. The trend is such that they have not even been able to draft a law for its regulation or taxation. This makes me quite dubious about future of bitcoin in India. It being a quite fragile economy is absolutely not in a condition to promote BTC. Still worried what will I do if it is banned.
True! We haven't yet heard anything from our Central Bank or the finance ministry yet on bitcoin. Which makes bitcoin's legal status unclear in India. It's neither legal nor illegal. It's good till the time they stay neutral, because if they start thinking about bitcoin, most likely it will be banned because our Central Bank runs under political pressure. Also we will see a lot of pressures coming from the commercial banks supporting the ban. So till the time they are silent, it's good for us. |
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I thought it would take until the end of Dec to reach the five-figure mark but it looks like it will be up to the mark tomorrow itself.
Will the price decrease after 10k? because many people are waiting to sell if the BTC reaches the 10k mark.
OR
Will it's price is going to be increased more after that!
Is it too risky for a middle-class person to buy 1BTC now because of the stakes!
We are just $30 away from 10k mark while writing this post. So probably by the end of today we will see $10k mark breached by bitcoin if the global demand stays robust like past few days. Someone correctly mentioned that "CME adoption news did its job", and I too believe that. This is the first time a big financial institution is jumping in to the bitcoin market with a huge stake and the bitcoin price must move in to the positive direction, and that's exactly what is happening. However, despite all the positive news, I see a correction incoming. But this correction won't last long. It will be a temporary impact by the traders who will sell their stakes to book the profit. This correction will make the bitcoin price upward again after gaining some strength and set the next expectation higher than the current level. So if you have a long term goal with bitcoin, go ahead and buy. |
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I'm currently investigating how to stay under the radar with regards to the profits made from crypto.
So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.
Added, I stay in a corrupt country where large scale government corruption is the norm.
Any help will be appreciated.
PS: Is the idea of crypto not to be anonymous.
Every country has their own norms on money laundering. Like in my country, if I get 1 million (around 15.5k USD) in my local currency, my bank will immediately report that transaction to the government. Similarly your country may also have some kind of cap on the maximum amount of transactions. Find that amount and make a transfer below that cap. However, then also there will be a chance to get reported to the government if your previous earning pattern doesn't match with your current transfer. So, instead of making a huge transfer to your account, make small transfers every month as per your requirement. That's what I do. I make small transfer every month to my bank account and use it for investment. That way you will be safe from the regulators. |
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That's not just litecoin or bitcoin. The entire market has increased. Along with litecoin, ETH and bitcoin has also reached their all time high. There are few coins like NXT or Monacoin which have increased to 44%. So the entire market is on bullish mode. It's time to earn some good amount of profit from trading. However, the market will see a correction soon because it is hard to hold on to this price. Even with the increased market cap, the market will soon see a correction and will give us another opportunity to buy at a cheaper cost.
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Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...
What's your take on this, should I go ahead and quit?
Thanks
Absolutely not! leaving job and going full time on bitcoin is not advisable. Every person needs money to live a proper and a decent life. You job will pay you a fixed income every month using which, you can survive and your daily requirement of money will be met. Whatever you earn from trading will come as extra to you which you can use to save for the future. Unlike the real world stock exchanges, bitcoin market is open 24/7 so you can trade during your free time and during weekends. I also have a day job and I also trade during weekends and during my free times. So whatever I get from my trading, goes directly in to my savings. My salary help me to meet my day to day expense. |
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Why has china banned its local coin exchanges in the past few days the value of bitcoins has fallen can this adversely effect the bitcoin market ?
That's a pretty old news! Why suddenly you brought this up after so many days. I believe, it is overall good for the crypto currency market. Chinese people are very manipulative in nature and their exit had a positive impact on the bitcoin market. Even though China hasn't yet banned holding bitcoin, but with new adoption news almost on a daily basis, will eliminate the need of Chinese people being in the crypto currency market. |
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Who's banning crypto? All countries are implementing it and making relevant laws.
Not all countries are legalizing it or making any relevant laws. There are a very few countries who have legalized it and majority of the countries are not sure what to do with it. Either they don't bother or they are too serious about the negative impact of bitcoin. I am sure the majority of the governments are not taking bitcoin positively. Not all countries are progressive like Japan. However, I believe legalizing bitcoin will help the mankind as a whole. A lot of new business will open up. A lot of new job opportunities will be created. More over, a lot of money will be infused in the economy which will increase the purchasing power of its citizens. It will have a very positive impact on any economy if a country legalize bitcoin. But they are facing a lot of pressure from the Banks and main stream financial institutions who wants to ban bitcoin. But the legal status is still unclear in majority countries. |
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We are working on GR for solving such cases.
Do you mean that you are working on a government resolution for bitcoin? If yes, may I ask which country are you from? Also what the government is thinking about bitcoin? Can you please shed some light on it? |
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I think this is a good idea, Ico complying license will reduce the the fraud . And this is much better advantage for us as investors.
The ICO that has license will sure be more reliable to the one that doesn't have , so this must be implemented ..
If you guys do have any suggestio or opinion let me know . But for me this is a good idea and must be implemented.
Absolutely! I will be happy if an ICO require a licence and also if they need to report to the regulators of their respective countries. It will certainly reduce the fraud and bring back the trust in crypto currency market. ICO market has now become very liquid like ponzi market. Which is why a lot of investors are reluctant to invest in ICOs. A licence and a reporting requirement will help to Change the current picture. |
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