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No one wants to stay on a sinking ship,
People will sell altcoins when they have to, whether to take profit or stop-loss. For popular altcoins such as xrp, many people are willing to buy it, different story for less-known coins which becomes object manipulation pump and dump in a short time, it won't recover again, that's why people won't buy when it crashes
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Whoever believes in bitcoin could hold as long as they want, even for years but the things are when the price rise and hit the ath, people can't resist the temptation to take the profit and buyback in the dip, moreover if people have an urgency in need of cash, sell Bitcoin is one of the options as a reserve asset.
However, for people who don't need to sell bitcoin, it's a good thing for them as bitcoin has huge potential to increase over time and possibly to reach $100k.
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Bitcoin reclaims $40k and should be able to reach $42k again, the daily RSI recently rebound indicates that the bullish momentum is increasing once again. it's just time matter, when bitcoin break that mark then it's going to reach $45k and $50k. Alternatively, in case of bitcoin can't hold its position above $40K, we can expect the first level of support at $38k, so whoever wants to purchase bitcoin, can buy it now or wait for a slight pullback to $38k.
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Bitcoin is a proven digital currency whose value increases over time, most of the cases due to the halving, scarcity and high demand drive the price to climb up, after the last halving in May 2020, bitcoin has reached $40k in 6 months, doubled the last ath at $20k in less than a month from mid-December to early January.
People who invested in bitcoin a year ago at $8k already have a 500% profit, let alone in 5 years or 10 years, who knows how much bitcoin could increase at that time but it always worth to wait or accumulate bitcoin as much as we can.
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Sounds like another headline for a news site, no matter if it's true or not, as long as there is another piece of news. I doubt that a person who owns such a large amount of bitcoins could in any way lose or forget their wallet password. In any case, such a number of coins will hardly affect Bitcoin in any way, because the loss is 7000, and there are 21 million of them in total.
Anyone can lose large or small amounts of bitcoin. It all also depends on how to secure the private key or password for a wallet with thousands of bitcoin assets. 7000 bitcoins will not affect bitcoin entirely, but not only 7000 bitcoins that cannot be accessed, but the possibility will also increase when people who have a lot of bitcoins suddenly forget and lose their private reserves. Whether it is true or not, this news can be a lesson for us that every password or private key for digital assets is very important to always remember and back up in other places. Even though I don't have thousands of bitcoins, but my privacy remains well kept and makes backups elsewhere separate and away from online devices. That's really a pain in the ass, many people are stuck with the same problem, in the early development of bitcoin people don't care about bitcoin and underestimate the value which was minuscule. The negligence to store the private keys or the password to access the wallet leads to the current problem after the value of bitcoin skyrocket. We can imagine how frustrating people that have BTC7000 in hand but can't access it, that's worth $269 million, you can retire with such amount of bitcoin. |
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I find it quite amazing after checking your site https://www.winrate.io/?80000-strategy starting from $100 and grows to $64,220 then realized that just a simulation  after watching the video, hopefully this works really well for you in reality. Notice the price movement today, the day's range fluctuates from $32,327 — $37,800. So I assume you have made a good profit so far, waiting for your portfolio in the next week. |
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USDT carries a huge marketcap, if something bad happens it will affect the whole crypto space big time but I'm sure bitcoin will be the first to recover, we can't deny the fact that Bitcoin is well adopted than others and some are even waiting for a golden opportunity to buy bitcoin for cheap price
The huge market cap of USDT should be the least of our worries, USDT has the combined volume of BTC and ETH, that should tell you how big it is and t makes sense, when people sell their crypto ideally they will like their fiat to go to their bank accounts, but with banks flagging and closing those accounts and taking days to get your money back to exchanges in which you can miss a big movement people prefer to use USDT instead so they can always jump back in the market and without it we will lose the best source of liquidity we have. if USDT would collapse, which means tether will lose its value, then people who hold usdt have to sell it and buy something better, for instance; bitcoin or any other stable coin. in this case, bitcoin value wouldn't be going down rather gain value thus the price of bitcoin and altcoins will increase. The collapse of the usdt will have an impact on the companies that issued it, as usdt backed by real USD or they claimed backed by [ traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”] so they have to exchange their reserves in order to cover every sellout of usdt. |
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LoL, I don't panic when the price fall but FOMO when bitcoin rise, can't resist the temptation to sell in fear of the price drop afterwards. Preserve the profit in case of a panic-sell may occur. However, the price isn't so easy to predict, we thought a point is a peak but it turned out to continue to increase. |
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I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?
I am thinking around 20K.
$30k is a good entry point' and if you can't get it, then below $33k is considered good enough. Don't wait for $20k, it will take forever for Bitcoin drop to that level, at least until bitcoin reaches $100k, because 80% drop = $20k Some popular predictions when Bitcoin at $40k are 30% and 40% drop, which mean $24k-$28k but the last correction bitcoin fell just 27% and bitcoin persist above $30k, we can expect Bitcoin to climb up again from this point. |
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A lot of people already claimed that the bear market already started even we just saw 3 days' red candles for Bitcoin. Even major media company, CNN already claimed it: Bitcoin plunges more than 20% in three days. It's now in a bear market. 20% dumps within three days are kinda huge for this price of Bitcoin, but if you are in the market for previous market, these kind of dump percentages are common which I am sure that it will make you don't get panic easily. For a big media company, they are too early to conclude that bitcoin has entered the bear market although it just a normal correction considering bitcoin price rebound to $36k immediately afterwards. People have predicted that bitcoin may encounter a correction of 30% - 40% after such an increase of more than 100% in less than a month, it really drops 27% though. Nonetheless, the support level at $30k still holds firm, and the demand for bitcoin in the market ensures bitcoin goes up in a short time. |
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The opportunity to accumulate BTC1 is increasingly difficult, although not impossible if you have the patience to buy bitcoin by easy stages throughout the years.
The strategy remains the same, buy the dip and sell at the peak if you believe history may repeat itself, that bitcoin could reach $100k and the time will come when bitcoin plummet after reach the peak. Even someone who sold at $40k yesterday can save $10k to get bitcoin at a lower price if he manages to buy the dip at $30k.
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Bitcoin provides a better way as a hedge against the confiscation of wealth, not only in China but for everyone, as long as you know how to do it properly without being noticed by the government. However, there is no point stand against a country if you live there, they can enforce the law to someone and dig deep for anything someone might be hiding, especially communist countries that have a terrible track record in human rights.
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Binance has the highest liquidation volume ($903.31 million) followed by Huobi ($523.53 million), and Bybit ($494.55 million).Such a big cash-out could intrigue the snowball effect that caused people to panic-sell as well, it happening on most exchanges, seems like the whales have a connection to selling simultaneously. However, we can judge that the time has come for bitcoin to get corrected, it went on a rally for months and be able to leap from $20k to $40k in 22 days. The most important thing whether bitcoin could hold its position above $30k or decline to $28k as the lowest level, but bitcoin appears to be recovering above $32k right now.
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This isn't anymore a price correction. The price drop has begun, because at the moment the market drop is found close to 18% which is very big. Ethereum hasn't seen to drop big, however the values have been falling continuously. The price of bitcoin has reached arou $34000. People have missed the opportunity, who set the target as $40000 will be now enjoying the buyback.
it's the same thing, a correction = price drop. This is the first correction since the last one at $19k. based on bitstamp, today's price range $30500.00 — $38261.39, which mean -$7761 or -20%, if we count the ath at $42k = -27% it can fall even deeper to -30% or -40% though if the prediction will be the reality but the support level at $30k seems to persist so far, it can rebound or continue to decline at any moment.  |
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What's your take on pump and dumps? Does it make you feel uncomfortable knowing that traders outside of the circle will likely make a short-term loss, while those within the circle will mostly make significant gains?
People who have involved in trading know about it and we should aware that trading isn't simply 'buy and sell' but Trading is a war among everyone who wants to get a profit. Someone can not earn profit without others lose their money, this is not related to ethics and the like, it's just a strategy and abilities to read the market and predict the outcome in the future that will determine whether someone will gain profit or lose. |
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Bitcoin has got high Transaction fee. This is the reason why Bitcoin hasn't gained importance on daily transaction. Maybe this scenario will change when bitcoin becomes a supportive platform for micropayments. Right now the increased usage is on gambling, trading and large volume transactions to eliminate the usage of banking procedures.
That has been an obstacle for years but not always the main problem as the transaction fee can be paid only 1 says/byte and will be confirmed within 10 minutes, but whenever the price increase and too many queues on mempool then the fee goes up like crazy. Nonetheless, whoever wants to spend bitcoin on daily basis can do it with the lightning network or check the mempool before transact. |
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her real problem is that she banks with a small credit union who was declining all her transactions. that is not the typical experience at all---pretty obnoxious that she is framing it like this.
she also lives in NY (bitlicense) and is listing off services like blockchain.com and binance.us that would never have served her in the first place. none of that applies to the rest of the USA. things are definitely worse in NY than anywhere else in the country, with the exception of maybe hawaii.
Yes, she did mention this as the main problem; the customer service agent tells me all crypto transactions are “considered very high risk” and declines them, no matter whether I assure them it’s a transaction I want to make or not. How nice to put your money there but they decide to block all the crypto transactions, darn it. Especially after FinCEN proposed some new requirements of disruptive changes for digital currency transactions, makes it even worse for citizens in US to deal with cryptocurrency and exchanges. |
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Be Smart. Define points to sell and transform the numbers on your wallet on FIAT. Chances are you will see it crash and go much lower than your exits. If you are a holder, then this will allow you to buy cheaper.
The price surely will be corrected at some point, there are some minor corrections yet the big one seems to have not come up to the surface. everyone who has sold at $42k maybe obtains a considerable profit right now, but what if bitcoin hits $50k this week? they could have made more profit, you can sell some portion but do not sell all your bitcoin at once, instead set the target at a higher point, probably at $100k during the bull run market or at least until Q4 2020 that the value might hit the peak. |
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It's not categorized as a crash more into a minor correction which is normal in this bullish market. actually, the price fell $7k in a day as the highest price was $41,4 and the bottom at $38,3k but it could recover to $38,4 right now, indicate the market still persist in bull mode. Bitcoin demand during this Pandemic continues to increase mainly due to in-bulk acquisitions by institutional investors because fiat values tend to depreciate as long as the world economy does not work normally, they want to hedge value and it seems bitcoin as the good alternative.
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Bitcoin price supposed to increase over time because halving makes it scarce, the real bitcoin value can be measured by the mining cost required to make it run all the time, we can't say it is for the long term that bitcoin always sits above $40k but the price may remain above $20k as the basic price until the next year. As long as the institutional investors don't dump all their bitcoins at once, the value will continue to increase.
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