The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
You should include the source: https://philippsandner.medium.com/the-impact-of-crypto-currencies-on-developing-countries-dce44c529d6b" Crypto currencies have widely been considered as an instrument to support the growth process in developing countries." " as they can be considered as a medium to support the growth process in developing countries by increasing financial inclusion, providing a better traceability of funds and to help people to escape poverty (Ammous, 2015)." It's hard to expect most people from developing countries to adopt bitcoin since there are other circumstances like the lack of awareness and knowledge about it. Also, is a situation where people are struggling financially, they often lack basic education such as reading and writing ~~~
it sounds that you belittling most people in developing countries, lack of education? can't even read and write? Do you think developing countries means primitive countries containing cave people or those who lived only in the forest or in the desert? Although many developing countries do not have education that is evenly distributed throughout the country which causes a gap between people who are educated and those who do not have the opportunity to attend school, but most people in those countries can still read and write. |
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Finally, bitcoin be able to break the $16,000 resistance level today, the price fluctuates within $15,600-$16,100 although it still in danger of rejection.
this allows the support level of $15.500 to form and become consecutive, showing the potential bullish trend pattern to set a higher support level to reach $17K.
Based on the chart and technical analysis, bitcoin in bull run to reach $20K by the end of the year, just be patient until we get there.
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Despite all the positive things such as huge adoption from companies and investors, or pandemic and inflation,
Despite all the advantages and benefits of bitcoin as a peer-to-peer electronic cash system,
it happens because it's the time to..., bitcoin isn't always bullish, it's an object of trade. there is a time it will rise and fall sharply, or just doing sideways.
history repeats itself, bitcoin about to reach a new ath by the end of this year.
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Seems it's not over yet, those bitcoins keep moving, bitcoin amount in those wallets increases, decreases and divides into other addresses.
some addresses still hold a huge amount of money such as;
- 13DDaTNyfhhixDcMggrL2QucBHbmv731Kv = BTC3,276
- 1MkNCrojT4iThVUXuLmXd5v6Ed85zjEBvN = BTC3,277
- 1G4fjcAVtZCfU1yZQk673mbrVXjXgkEVcT = BTC13,913
it could be someone transfer bitcoin to other persons, to exchanges, or to his other wallets, could be anything.
while people are attracted to addresses that contain large amounts of bitcoins, other adresses which contain small amount of bitcoins probably the real transaction to pay something or to cash out fiat currency.
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More money for miners is fine by me. That way my cheap transactions are more accepted, I guess. I try to never pay more than 1$ even if sending more than 1 BTC.
As long as there aren't too many expensive fees on the mempool, it will take days even weeks for cheap transactions to be confirmed (based on experience). The most costly fee I ever paid probably around $3 and still have to wait more than 5 hours at that time when the mempool flooded, insane. it was when the price of bitcoin suddenly rise significant, or we can say 'pump', fortunately that's not the case lately as many people just pay 1-5 sat/byte |
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I thought it would take longer to break $16K, but it seems to happen in a few hours, so bitcoin sideway pattern is over today.
if bitcoin could close the day above $15,800 then more likely to reach $17K in the next few days because most of the technical indicators are in the buy position.
Look at a bigger time frame, bitcoin underlying hyperbola shows it could reach $20K by the end of the year, the bull run still on the track.
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Indeed, he is too exaggerated about it, bitcoin and gold can coexist, why not?
Gold and bitcoin, both have respective advantages, strengths and weaknesses.
The value of gold relatively stable for centuries, a safe-haven asset against inflation. Meanwhile, the value of bitcoin is very volatile, at some point could rise or drop thousands of dollars within days. Even if bitcoin value rises to over $100K, it wont cannibalizing gold in any way.
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I did not expect that the bitcoin exchange traffic is only circulating in 6 countries. I find it surreal to the point that it looks like bitcoin global adoption seem impossible. I can see my country although it is not in the higher tier which is understandable. ~
Nope, not only circulating in 6 countries, it just 6 countries traffic of bitcoin exchange combines makes it slightly above 50% which is 50,5% as mentioned. So, there is still the remaining 49.5% traffic from around the world, including from your country. Nevertheless, it's not an accurate data, just a representation of exchanges traffic because there are countries block acces to bitcoin or simply banned anything related to cryptocurrency. |
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The chances of betting on a collapse are much better than betting that the price will increase because we moved from 10,000 to 15,000 in a short period of time, so there must be a correction that brings the price back to 13,000 levels again, but when does this happen? The question is?
Generally, in the long term, the price will rise, so these temporary crashes do not mean much, it is difficult to see the price below $ 10,000 again.
Anything is possible obviously, bitcoin in a sideways pattern right now but doubt it will drop to $13K anytime soon, probably a retrace to $14,400 like the last time. it took years to break $14K resistance, so it will most likely act as strong support level. Bitcoin in a positive trend on the market and it's not over yet, holding the support level at $15K due to great correlation between the equity markets and bitcoin create upward pressure to have a much better probability of returning the rally within the next few days. |
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There's nothing to convince me that Biden has something to do with why the price is going up or going down, we are just looking to connect at this event and speculate on it, if Biden announced that he will stop Cryptocurrency or make it illegal then we have something to worry about, the market could crash, but Biden seems to be kind of guy who is very open to anything, and he would like to unite things.
So let him take his seat and wait, I will still see the market still going up and going down even before he takes his oath and after he takes his oath.
A president's policy on economic growth will affect bitcoin directly and indirectly. If a policy could support a part of the bitcoin ecosystem, mining, exchanges, bitcoin trust or bitcoin ETF, then the price will definitely skyrocket and vice versa, because the US has the most traffic for bitcoin. Or at least he won't do anything about cryptocurrency, just leave the market as the way it is now, nothing will harm the growth of bitcoin. Now you see, we hope he will support crypto or doing nothing about it. |
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~
Inaccurate information. What you gave is inaccurate in the past 8 hours. The screenshot is for visual mempool size last 8 hours. At its highest, the total size is less than 12 MB. One block will take 1 MB from the tip of mempool size. Get visual plot last 8 hours there: https://jochen-hoenicke.de/queue/#1,8hIf you want to narrow the window you can choose 2 -hr, and you will see the temporary size of mempool is 1.6 MB. With fee rate at 1 satoshi / (v)byte, your transaction can get first confirmation next 2 - 3 blocks (half of an hour). I've tried it myself half an hour ago but my transaction still not confirmed, I paid 14 sat/byte, the transaction will be confirmed in 7 blocks (1.78 vMB from tip) You can check it here: https://bitcoinfees.net/ for total unconfirmed transactions on mempool (updated every few seconds) Why don't you check it by yourself if 1 satoshi/byte will be confirmed within half an hour.  |
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I was taking a look at the mempool now and I noticed that.
Anyone could get a confirmation with 1 sat/byte. But there are a lot of transactions paying 20,30,200, even 400 sat/byte.
I don't know if those transactions are miners spamming the network, or just newbies using blockchain.info and similar wallets?
Wonderful, current total mempool transactions are 1516 with an average transaction fee only $0.33, even with fee 14 sat/byte will be confirmed wthin an hour and 3 sat/byte within 6 hours. Seems like the calm after the storm, since last week it was insane. Strange to see many transactions still push it to a higher fees, I check auto fee on electrum is 62 sat/byte, so probably some people are spamming the networks. |
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This is the right time to get in because I think 17k will definitely happen before 2020 ends. There was a slight drop in price today but that is not a sign that price will fall soon. Bitcoin has been trading in this area in the last few days and it seem a bit difficult to break the resistance level above it. But who know, many prediction can even be broken only if market demand increases. There are lots of risks to be aware of when entering during high price, but whatever it is bitcoin has the potential to hit a new ATH. It is not a good idea to say that this is a good time to enter, people need to have a good analysis before determining when is the right time. Actually it was a huge drop if I may add, - 6%, we even went below $15k for a brief moment, then I was surprised to see the price bouncing back to $15,500, so it means that we are in the bullish phase and that $17k could potentially hit by the end of 2020. Yes, there is always the big risk, but past history tells otherwise. Put in into perspective, during the last Presidential election, the price of bitcoin is just around $600-$800, forward this 2020 and the current US election, the price is around $15k-$16k. The market on the uptrend right now showing a great potential to keep the support level above $15K, and bullish trend continuation pattern shows bitcoin may reach $16K-$17K in the near future, probably within 1-2 weeks. There are some institutional-investors are showing up and assume they will hold until at least $20k+, watch it closely as sell frenzy may occur at that point. in 2017 bitcoin price went up 4 times and then get corrected 30% afterwards drop to $13,700, we can expexct relatively the same conditions in the future. |
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I believe this will throw BTC under $11k next week itself because whenever a positive "news" came, BTC always got defeated downside. I hope I'll get a chance to buy BTC "cheaper than this" once again. I would like to know whether you made your decision to purchase the coin when you started the topic, i did not expect this rally but you had a hunch that it might go higher, it was crazy ten days and i have no idea where this is going. Even i was waiting to enter at a cheap price when i get my payment and this pandemic has ruined everything for me. if you look at the chart, bitcoin started a significant rally since 19 th October from $11,500. 20 days later bitcoin succeed reach almost $16K, despite a brief dip bitcoin still be able to manage its position above $15K. Bitcoin at the strong position right now, imagine what would happen 2 weeks later, bitcoin may reach $18K and $20K by the end of this month. |
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The efficiency of the vaccine must be tested for years and it's safety for decades. yeah, sure... 8 months of deadly virus and here you are -magic vaccine from big farma.
It's not just about health I guess but economics as well. After they made the announcement, the stock futures rise significantly. I'm quite skeptical about vaccines, yes the safety has to be monitoring for decades to make sure there are no adverse side effects. Just cure them who have been invected and let's see if it will works. |
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There is still a long way to go before the end of the year. The way Bitcoin prices are rising will not take long to meet this target. Bitcoin will soon cross $20k if this continuation of inflation continues.
Seems the bitcoin uptrend may push the price to reach a higher mark by the end of this year, the target for 2020 is $20K IMHO but the technical analysis and market trend indicate it will rise over $21K. After the attempt to break $16K resistance, although it fails but the price drop only to $14,400 and then strong support bounces back to above $15K, it will easily close above $15k today and will try to break $16K tomorrow. And the rally goes on. |
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As I said, 20k was reached with less institutional investors.
Now, with them present, a new ATH is a matter of time. I won't say how bit it'll be, but it may be really big.
Just keep something also in mind: institutional investor may also become very big speculators and may play (us) big with price ups and downs. But since this has also happened already without them I'd say I don't expect anything different on short-medium term.
The only difference I expect is on long term and that should be much higher level of price and much lower price volatility.
But this time retail investors aren't coming en masse, so there's a scenario where a new ATH won't come. I can totally imagine guys from Microstrategy selling all their coins at $18k, because getting 80% profit in a few months is already crazy good. Institutional investors, unlike many retail investors, who are often noobs, understand that this market is prone to bubbles, so it's important to take profit fast, before the bubble has popped. Institutional-investors considerably influence the price of bitcoin to rise since they announced bitcoin purchases. They can sell it at any point, whether at $18K or $20K but the cash flow into bitcoin market will always continue to increase over time. However, Microstrategy adopt bitcoin as the primary treasury reserve asset, the CEO; Michael Saylor claimed that he didn't buy bitcoin to sell it. read more
Saylor also said that BTC is the best asset to be invested in, calling it “the only thing we can find with a positive real yield.” source |
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Do not blame destiny or something that you have missed in your life, at least you know about bitcoin right now. Too many opportunities in this forum if you want to earn bitcoin, keep looking at the information provided and work hard to achieve it. There are many ways to Rome, you can sell goods or offer your skills/service on the internet, there are a lot of them such as; sell photos online or offer your service at : Fiverr., Upwork., Freelancer., PeoplePerHour., TopTal., Codeable.io., Outsourcely., Truelancer. < just add .com |
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If a president of the world power is a trader and in support of bitcoin, It will affect bitcoin positively, countries,people will now start to legalize bitcoin on their own.
If you were in any way subtly referring to the new man in saddle at the US Whitehouse lending his support to Bitcoin to make it grow, then you've missed the point. Bitcoin is community driven as a decentralized asset. Not the main point of bitcoin as a decentralized cryptocurrency, but any support from a President still a plus point for bitcoin community to encourage more people to at least learn about the advantage of bitcoin. No single person can manipulate it. Otherwise, Bitcoin wouldn't be as relatively stable as it is today.
bitcoin isn't a relatively stable coin, the price could change thousand of dollars in matter of hours or days, not to mention how much it fluctuate in months. Because it can be manipulated by whoever have huge capital to do so, or by people who hold the title as bitcoin whale, they can dump it. Bitcoin is an object of manipulation, it isn't stable. |
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Chinese people have been using wechat payment or Alipay for a long time, and most people pay on those platforms using barcodes just like people using apple pay, it's easy as using only a smartphone or credit card.
if digital yuan completely works and easily used as mentioned above and could displace paper money, in case of economic control and efficiency it will make Cina even more powerful because they can control the flow and distribution of money within their country, no one can lie about their finances or evade the tax.
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