It will be good to have some period of consolidation anyway after the market has been bared out. Over time, this could give time for accumulation, for the market to gather enough momentum and we can then see what happens next from there. I am still very optimistic the market will recover, but we cannot say when and we just have to wait for it anyway, so the little we have to play with now, that is good enough.

The 12k wall can be penetrable but that would be with some high volume and then we may have to need some good news to get that out of the way. I somehow agree with all that you have said, and I want to believe that we may actually end up consolidating for a while now until we are able to gather momentum. However, the more we consolidate, the more we still stand any chance of a 50:50 occurrence in the market of going lower or testing the hard resistances.

Yeah, you are new! So I can pardon you for what you have said. I wonder what you would have said anyway during the last year's fork when all altcoins got beaten badly as bitcoin dominance increased or when the whole china FUD of banning ICOs and some of the Chinese exchanges. I am sure you must have thought bitcoin will never recover let alone get to $19800 right? Well, there may be another surprise for you after this one, so do not lose faith.

I am sure he will not take any offence with that because he is actually holding some terrible shit coin. It is one thing to be holding shitcoins and it is another to be holding terrible ones and those ones are more than terrible.

I wonder if he did not do any research on those coins before deciding to hold them in the first place. 3 years and nothing, I am sure no one is trading those coins and he will be lucky to get any trader to sell them to on any exchange and if he can, he should better not waste time before the coins are completely dead.

Yeah, it is. One thing about having a product is that the coin you are investing in will have usefulness and you will at least be sure that you are investing in something real and the idea behind the product and how useful it is to the community at large and the global population at large is what would make it work. Any ICO without a product is more like investing in a company without anything to show for it, how will you know if the team will ever deliver on a promise if it is empty?

Product is a whole lot important. A lot of investors have ended up investing in empty promises and we all know how that usually ends up turning out at the end of the day. For a project that has product, that shows the team is ready to work, there is a whole lot to watch out for in the future as the coin or token becomes very useful and that is what really makes the whole idea of having a product sensible.

With the support that bitcoin has had over the years, the first movers’ advantage, and the fact that every other altcoin tags along with it, definitely speaks some volume regarding bitcoin. There is one thing I am sure of, and that is the fact that an inflationary coin cannot supersede a deflationary one. Yes, we may say no one knows the future, but sometimes, the future may be very glaring even before we get there.

What would one expect from an asshole that ended up getting a lot of users to lose their fund? People with the likelihood of always doing shady things will never stop and since all the avenues to not dump the in exchanges fell on deaf ears, it obviously shows how stupid he is. The funniest part is the inexperience management of the dumps, who does that? Then he gave the crap of making efforts to sell at high prices, seriously my dead grandpa have sense than this guy even in his grave.

It is a shame that 40,000 bitcoin and 1.x billion dollar is having a huge effect on the value of bitcoin. Yes, we know that the rise last year was actually uncalled for, but it just shows that bitcoin is trying hard to catch up with the selloff not affecting it hugely.

I guess we will need huge news to get the market up hugely in the coming months; otherwise, we will keep having a lot of resistances to deal with. However, looking at the whole thing happening with bitcoin, I feel it is still a good thing for us to have some period of accumulation, because like it or not, we are getting past this soon.

Yes, the reason why a lot of people get panicking is because they conclude a lot even at the slightest and little changes in bitcoin movement. The fact that the market is down now does not mean it will remain as that, and over time, things can change at any time, which makes the idea of speculating that we are going to remain in a bear market for a long time like the OP said is totally absurd.

Really I am not expecting much from bitcoins myself anytime soon, but it is good for accumulation anyway pending when the flight will eventually take off. From the look of things, we still have a lot of huge resistance ahead of us and we may keep bouncing back down from there several times, so let's see how it goes, but for now, I am still looking forward to what happens next with this our push back into the down channel.

Same here, I only day traded for a while and it was more like me punishing myself for the big cash. It is very profitable, but it is extremely stressful as well since you have to stay on the monitor during the time of your trade and make sure you do not miss a slight opportunity of buying or selling in any case it may be. It is crazy though, but at the same time, it is fun when you are good and you see the account increasing hugely.

Day trading is always highly risky and those that are into day trading also know that a lot, but with the level of profit you can generate in a day, I guess they feel it is good enough and it really is anyway if you are good at what you are doing.

I am not sure I can ever get interested again since I tried it once, and I am ok with my short term trading as that gets me what I need easily without much stress and to add, it takes a whole bunch of experience in trading itself generally to be able to day trade.

Even if he does not want to search the forum, or probably if the forum search is too complex for him, what happened to Google ? There is so much online for free for anyone to read and get going quickly and faster.

If all that he is looking for is how to trade, I am sure just that phrase alone will bring him a lot of things he would need for his trading adventure, but it seems some people just prefer the difficult way out uhn ? Even if he is looking for book, he should just type books for trading on Google and he will get all the necessary ones if he is a real book reader.

It is normal to always face some level of resistances when there is a huge disruption that has to do with the financial sector where a lot of fraudulent activities have always been going on. They can keep resisting but one thing I know is that a time will come that they will realize how much of their resistance has been totally pushed down the drain. Some are already beginning to accept the fact that it is a war they cannot win, but for those who are not, i guess they will have to learn the hard way in the long run.

Yeah, market volatility is always normal and not only in cryptocurrency but generally. I trade stocks and Forex too and I see a lot just as this, so the way I see some people responding to the market downtrend in cryptocurrency obviously makes me understand why the whales are always playing with the market well, knowing there are so many weak hands in the market.

Well, it is one of those things, and there is nothing we can do about it. Those who want to lose will keep losing and those who want to win will keep winning. This is a complex but a strong market and anyone that cannot see that is their loss.

Well, it is not all about having huge amount of capital as I would rather have huge amount of knowledge than just capital. One sure thing is that if you can make the best decisions with your trade and make use of all the available tools in making those decisions, you will be swimming in profit, but if you do not, you will be swimming in huge loss and you really do not want to see your huge amount of capital going down the drain. Day trading is even worse for someone without knowledge.

Lol. Are they not doing that already ?
They have seen the space as a way to make more money and unfortunately those who are dumb enough are really falling for this. It is understandable that since it is an unregulated environment and a decentralized one, they may see it as a platform to do what they like.

Now that they are gradually getting in, I guess the manipulations we are seeing are just about getting started. Biggest manipulators ever! I really hope we are not heading back to those dark days with these guys in the picture.

Certainly because they feel threatened and I am not surprised with a country like Nigeria where corruption and Monopoly has really gotten so deep, and even the house members from what I heard even get paid more than the president of some countries, coming to try to sway the attention of the public from cryptocurrency.

It absolutely will not work, as these guys are in dire need to survive and as long as the government is not giving them that, they are busy outsourcing by themselves. However, China is even doing worse than this.

I do not even have an idea how people even started having such a notion in the first place. People conclude whatever they want to conclude after putting just one or two things together and the fact that the market has always gone down before the Chinese New Year Festival, and then respond back after to a good level of recovery, it has always been assumed it has something to do with the Chinese. I would drop all my bitcoins if I find out whales are not involved in all these.

No country in this world has a huge impact on the price of bitcoin as far as I feel. The market sure responds to news but we have to consider the fact that this is a decentralized market and the whales will always have an upper hand. With the way the market responds sometimes, you will definitely know that it is somehow controlled, and if some group of people just wants it down, there is nothing stopping them. May be all these would change in the future, but for now, it just keeps happening.

Pretty good point. Normally, if we are to look at the real meaning of gambling in the literal sense, trading can easily fit in, since it is still a prediction and we are busy awaiting an expected outcome which sometimes may not even dance to our tune irrespective of our analysis, but we get it right most of the time and that is what differentiates it from the real gambling where you have no strategy or information to make quality decision and all you rely on his luck. So with that, we may call trading a good or smartest way to gamble.

Since gambling is all about luck which is what makes it different entirely from trading. I understand that we may see it as a higher educated form of gambling since we are speculating and predicting what an outcome might be based on the indicators or analysis we do, but still, it is nothing compared to a total game of luck.

I really do not even understand what he is trying to drive out. If no one is buying, what is driving the price upward? These same kinds of people like the OP will see the $6000 and will still be waiting until they miss it. It is crazy how people think. You wait for a low to buy, you have it and you still want to keep waiting. The same way people get greedy jumping in when the value is dropping is the same way they get greedy to buy in when the price has dropped.

Greedy kind of mentality some people had when the price was $6000 and they were waiting to see if it would go down further to $4000. When looking from the spot the market has been dropping down from the top, I would not consider this a bad time to buy. You should ask yourself the difference with the person who bought at $19000 and you that is buying now. If you are going long, then this is a good time to buy.

But you would still come back with more money to gamble later on right? Just kidding! I agree with you on the fact that self-discipline is very important and if you want to gamble it is always good to have a limit and maintain that limit so you do not get burned losing all your funds totally.

Moreover, I got to see that gambling should just be a way to just pass some time with some free cash, because at the end, you will end up losing it anyway unless you are lucky to win big.

There is no doubt we have all had this kind of though running through our heads. Although, I never really thought about it mostly, but whichever way, I still ended up finding myself opening several accounts to gamble until I realized I was even losing more and I would rather just have the whole bankroll in one account and then have a limit on it. The thing is that, it is either luck speaks for you or against you and most of the time, I have learned not to rely so much on luck in things.