It is indeed a positive and a very unexpected month for cryptocurrencies and traders. I have seen the volume rising up since the last week of February yet I don't expect it to be bringing in such an early bullish movement this April. No organic positive news had been around for months now that could have triggered such a show, yet here we are, seeing the price go from $4700 to $5100 and it seems like there's no stopping it for the meantime. I'm into the notion that there would be a steep fall awaiting for us all, but that seems to be out of the question now considering that everyone is on full-bullish mode.
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I fear that this might be the case if FOMO kicks in harder and a lot of people would be wanting to trade their bitcoins to get in on the action. It has happened in the 2017 bull run, though during those times the LN wasn't deployed or not even fully operational, and we might see some changes this time around considering that the LN is already up to take a chunk of the network's transactions. Volumes rising, together with mempool rising with a somewhat unknown cause can be a great indicator of what's to come in the market, though it can always go either way, always.
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I don't really see what's positive in the blog post/statement released by the SEC but I do think that having one more institution reviewing the state of FinTech and innovation cryptos offer in the global markets is a good thing, knowing that the ideas and the rejections are not contained in just a single container anymore. Also, upon reading the article, it seems that the framework would be favoring consumers rather than services and businesses, which I think is a pretty good thing considering that the consumers are the ones who are driving the adoption forward, with services being the vehicles that will help us through. Anyways, I just hope that something good comes out of this collaboration and not just another regulatory shit show that further halts the development of crypto.
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I would say FOMO somewhat reached the market once more, though I don't believe that this will be easily converted into a full-on bull run as the foundations for a solid upward movement isn't there yet. Everyone just got triggered to buy since someone intentionally dropped a huge buy order on the market, and initially thought that everyone was already making the buy rounds while in reality, it seems like just a single entity did it all. Perhaps this is a good sign that something is up, and the recent steep rise is a confirmation to that.
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Volatility is certainly one of the greatest hurdles for investors and merchants that want to enter the cryptospace. Although volatility, is one of the greatest hurdles around for newbies and services alike, some do ride the wild ups and downs for profit, which I think wouldn't be disappearing any time sooner since bitcoin is still a great speculative asset and it proves time and time again. Legality of bitcoin and other cryptocurrencies used to be one of those hurdles, though it waned over time due to a lot of positive feedback and approvals from governments.
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This is where I'm quite baffled, about how much was needed really to push the price to where it is right now and who did the said market stimulation. Anyways, the movement seemed to have cemented quite a following on its way up, and support levels are being nicely placed in $4500 and $4300 respectively on the exchange that I'm working at. Perhaps this will be the start of a beautiful spring - summer season for bitcoin, as was the case for previous runs, too.
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Adolfin's got it mostly right. It's definitely a mix of: - price: how much better your prices are - feedback: how well or how badly others rate you - frequency: how often you've completed trades - volume: how much you've traded (this is unfair I find as it's in BTC, regardless of price!) - distribution: how many different people you've traded with - payment method: the less risk the better
I'm not sure of the weight or priority, but I'm pretty sure it's something to the order I listed.
I can confirm that these things right here are the deciding factors to get your ads on the front page, though feedback and distribution don't necessarily help a trader's ad to get in the front page as I've seen several traders with lower than 80% positive feedback still making it in front pages. LBC hasn't detailed how to get your ads in the front page even though they are operating for years now, but then I'm pretty sure that these things are the main ingredients, with feedback and distribution at the least priority/important things.
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I'm inclined to believe that this is the first leg of an incoming bull run, as the order books in exchanges seem to be fine (or at least I think they are in the meantime) and no counter-movement from the bears are brewing, just a couple of traders trying to cash out while sell orders are being eaten at large. The huge spike happened yesterday, out of nowhere, and it began from there. I thought we would be chilling @ $4700 in the mean time but the recent push to $5100 earlier this day proved me wrong.
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Personally I view the government as the 'bridge' for people who are concerned about the 'legal' status of bitcoin and other services linked with the said cryptocurrency. Sure, bitcoin can flourish without government intervention and such, and that is in an anarchic situation wherein no government is present. However, with the present society teeming with government intervention and control, people need to be assured that they are 'taken care of' even though in reality, they don't need the loving hands of the government to use bitcoin.
Although we know that it's a different case when it comes to third-party services that deal with bitcoin.
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This has surfaced for quite some time now and I don't think anyone in their sane minds would actually send KYC for a few pennies, unless some few desperate people who think that this is a good idea and that KYC is somewhat negligible for them, or those who have fake KYC documents stashed somewhere, ready to use in nefarious activities as soon as the moment is opportune. People should be wary that their identities are vital information that should not be shared easily in exchange for pennies as they might be framed up for theft and other illegal activities that nefarious people might use them to.
If you want to receive money from airdrop, choose those that don't require anyone to send personal information.
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Who wouldn't? Seeing that their assets are worth more than what they initially bought, and knowing that some people who are stuck with their coins actually have seen some movement after a few months. While I'm elated that some strong bullish movement had been established in the past few days, I'm still somewhat wary that this might be a sharp push only to be met with an even sharper decline, just like what happened in the past few runs--though the signs are not showing yet. Order books are still in favor of the bulls, and we might be targeting $5500 within the next few days if the said rhythm and tempo is maintained.
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For simplicity and fast liquidity, Binance and Poloniex would be on my list for cryptocurrencies. As for direct bitcoin exchanges, I'm using Bitfinex for the meantime and our local exchange. For starters, you shouldn't be captivated with how well the exchange was designed or how good the platform looks. For starters, the UI's fluid functionality, paired with a huge volume is every trader's desire in an exchange. For the mean time, binance fills all of those, though I must say that the said exchange also has its own shortcomings.
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I'd go for mjglqw's suggestion on this one. TUSD is the only option you can go for if you want to avoid the hassle and painstaking process of getting KYC'd. Plus, you get to keep your stablecoins in your own wallet without entrusting the safekeeping into a third-party service which, for me is also sketchy at best. Or better yet, try getting some of your KYC documents ready because sooner or later, you might have to submit your documents if Binance's ToS changed, just as what other exchanges are doing every day.
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Their mini update was somewhat timely to the recent price surge we have had earlier this day so, coincidence? Anyway, what I like about Bakkt is they are constantly trying to keep folks updated even if they don't have a definite timeline. I myself have lost interest in Bakkt for months now though I still see that they are determined in getting their platform polished up to the last part. Perhaps CFTC would give them a break this time and let things pass, and I believe that this time, they would be succeeding for the platform. As for the price rise, it was a spectacle to watch, though the reasons up until now remains to be known.
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Google Trends is affected by price surges, not the other way around. You can't solely rely on Google Trends results and expect something out of those lines to affect the market movements. You might have seen the correlation between the two on those charts that you have posted, but again, as soon as the price drops, people's interest in bitcoin will also wane, thus Google Trends chart following the trend of the current market.
Oh and if you have posted this on TradingView, people will fail to see what kind of analysis you have put forth, no matter how hard the effort was.
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So in short, different spheres of trading would be created since each country would have their own set of guidelines for their local market aside from the global markets that are already competing with one another. I don't think this will pan out well, considering that there are a lot of arbitrage traders that are still existing and wants to get the better pricing/leverage for their investments, and for sure, this will stagnate the local markets and just propel the global markets, still. By following strict guidelines for an exchange to come in on a certain country, they need to edit and alter a lot of their terms and perhaps their structure, and that wouldn't be too pleasant at all. Also, knowing that bitcoin per se is a global, decentralized network, why do we need to divide the markets further into different clumps on different countries when we can just trade it altogether wherever our documents and KYC permit us?
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$1000 is a probable target, though from the looks of it, it looks like the movement has lost its steam and is now residing at the gentle arms of $4700 and won't be pushing any higher anytime sooner. The $800-$1000 price increase earlier was so abrupt that it looks like someone just bought a huge number of coins on an exchange and forgot that they might affect the market, although if that was the case, other people may have dumped their coins by now, but the price still stands to where it is until right now.
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Well at first I thought it was just another glitch in CMC, but after verifying multiple sources online, I found out that the recent run was true, and the sell wall placed @ $4500 on multiple exchanges has since been chomped by a huge volume of buys. Idk what to expect, or perhaps this is just another stimulation for a heavier movement, but it's just amazing that the price shot up $800 in just a span of 3 hours. We've tested $5000 earlier and in some exchanges, $5100 was recorded, though it was short-lived.
Looks like spring is going to get really busy, I guess.
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You wouldn't be getting far when you use your Android device/smartphone on mining. No matter how many cores and how fast your processors are (AFAIK Snapdragon 855 is the fastest today, and even that wouldn't take you to something) you still wouldn't be getting ample hash power to mine decently and you'll just end up with a toasted phone. Anyway, even though a single smartphone wouldn't be an enough producer of hash power, a ton of them would somehow be enough to mine a coin that has low competition, and this is what other people do: infect other devices with mining malware and use their phones to produce an okay amount of hash power to give them something, at the least.
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We are yet to see fully-functioning services that accept bitcoins directly, but until then we should be happy seeing that some people are already willing to meet compromises in order to learn about the tech, and how to possibly integrate it into their businesses and services as well. Perhaps with the return of bitcoin debit cards (the legitimate ones, of course) will we see the rise of interest in bitcoin again since that's one compromise we'll have to take if we really want to take our bitcoins somewhere, though I'm not yet affixed to the idea that it's the only way to get the word out.
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