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One thing I know. Stop looking at coinmarketcap. That is a hell of fake news for me.
There is not much of a legitimate market of one crypto currency.
I saw a lot of projects which are really good and yet they are ranked at the thousands number. It is disappointing to see more people are relying on that and they are doing some math with the market cap and whatever it is.
Even with the good exchanges listed by them they are still somewhere at the bottom.
The market price notice is just the algorithm of the website being programmed. The price of each cash flow is due to the market or the owner of the project that updates the situation. All information is just behind them, the reality is very different. Do not spend too much time listening to the market. Be prepared for your plans to achieve certain goals do not be too greedy... Do you think there's a bit of favoritism going on with some of these sites? Some false promotion in exchange for some coins under the table? It's insider trading like on wall street, except no one will ever know it happened. That's what you've really got to be careful about with crypto. It's not worth spending much energy crawling through these sites anyway. Learn your own criteria for judging the value of a coin and then invest little by little until you have enough conviction that it is worth that money. And certainly, don't get too greedy or it might all disappear. It is very likely that something like that is happening behind the scenes, no one likes to think about it because the consequences of such a thing for the market will be terrible but that is why it is not always the best idea to trade your coins, because if you find yourself in the wrong side of a manipulation of the market you could easily lose a substantial amount of your capital and it will not be your fault. It's too bad because this is what gives crypto a bad name. The supporters of fiat are quick to mention that there is no regulator to protect against price manipulations and that the wild swings are just used to serve interests of major powers behind the scenes (which could even be them for all we know). I don't really think altcoins are a good idea for the most part because of how easily they can be manipulated or taken over. They're actually great potential for short term gains, but you've really got to keep an eye on them if you don't want your capital going down the toilet. They need close supervision and firm rules for entry and exit. |
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If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too! Thieves can also take your bitcoin if it gets access. Consider the following tips to avoid losses:
Do you guys have a better idea to avoid theft in the wallet?
Your Knowledge and Ideas will be more helpful if shared.
Does Bitcoin really stored in a phone software? I do remember that Bitcoin can be stored in a ledger wallet which is a hardware and not a software. Bitcoin uses a private key which you can access anywhere and that private key is what needs security and not the phone. Yeah you can download a few apps for that. There's Mycelium, which is somewhat secure. It requires your pin every time you make a transaction, which isn't hard to figure out, but it's better than nothing. I'd keep it just for spending money if I were you and put the rest somewhere more secure, like a cold wallet on an external drive. Just don't lose it. The phone isn't the best place to keep a lot of money because it can be lost easily. It's better to be used like your wallet, with a weeks worth of spending money and that's it. |
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If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too!
Bitcoins are not stored inside a device. The private keys, which are necessary to use/move the corresponding UTXO's (which have been confirmed on the blockchain), are stored inside your device. A simple backup of your private keys (or better: seed) can counteract a loss of bitcoins if the device breaks. Do you guys have a better idea to avoid theft in the wallet?
Split your holdings. Majority in a secured cold wallet and a small stack on the mobile/desktop wallet for daily purchases. Or: Use a hardware wallet with seed being backed up in multiple secured places. The key is to reduce the possible attack surface to a minimum. And use your common sense. BTC's not only get stolen through digial/physical theft, but also through shitty ICO projects. Yeah the biggest thing here is not putting everything in the same account. I heard a story of a guy who lost his harddrive once and there was nearly a million worth of bitcoin on there. It got mistakenly thrown in the dump and he chased after it, went riffling through the landfill for a week but still couldn't find it. Just keep the main copy on an external drive and consider that your bank account. Make a copy on another external drive. Write down the seed somewhere safe. |
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I took advantage of the Bitcoin price flactuantion by investing 10% of my earnings. My $500 turned to $18k. I seeit as money multiplier
I want to hear about whats your stand now?since you said last year that bitcoin investing is money multiplier? Can you took advantage when the market is like this?remember that bitcoin volatility is the reason why we must be careful on investing because this is the way we can earn.but the same reason for us to fail Well I don't know what HS is doing, but at the times like this, when the market is falling, one may see the opportunity to buy again, to invest some more, with the hope it will rise again one day. Very good investment strategy. That's what people should be doing: putting a little bit in each paycheck and waiting for it to multiply. Now is a good time to be buying again. Can it really drop below the cost of mining? It will take some really heavy shorts to get that low I think. There's more money in mining to keep it up, and they want to keep the profit flowing in on the mining side. So it's probably not going to get much lower than this. Bitcoin is a good way to start a business. Put away small amounts of money that you want to use for your small business next year. You'll see it grow over time. |
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If the U.S.A. goes to war with North Korea — and thus brings in China, Russia, and even NATO — the bubble will pop.
If banks pull another “Too-big-to-fail” maneuver and the government must bail them out — which will lead to another global recession — the bubble will pop.
If Yellowstone erupts and blankets half the U.S. in ash, or if a truly worldwide cataclysm occurs to sink our economies — the bubble will pop
But I’m not.
There is another bubble growing right now — a bubble ready to pop. It’s a global one, affecting people from developed and underdeveloped countries around the world. When it pops — Bitcoin will change forever.
I’m talking about the: “Bitcoin is a bubble” idea.
It may sound silly but bear with me. All around the world we hear reports from big banks, financial guru’s, government figures, and more so-called financial experts. They keep saying Bitcoin is in a bubble. They say this with so much conviction, and on so many news networks, that people believe them.
The higher Bitcoin’s price rises — the more they believe it’s a bubble. But the price of bitcoin — keeps rising.
These ‘financial guru’s’ are left clueless. Why does the price keep rising? Why doesn’t it just pop already?
These gurus like to say things enough times until it becomes a "truth". They feel that if they repeat certain mantras, like "bitcoin is a bubble" with enough force, then they can cast a spell on society that will actually work. They are gurus, after all. But they are so burried in their own shit that they cannot even see the light of day. The sit in caves and circle jerk each other in groups of virtue signalling orgies. I'll tell you that you're really intelligent and good at predicting markets if you tell me that I am too. Hopefully no one looks at our track records.! |
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You can never time the market thats no.1 and is better to buy bitcoin when there is blood on the street, but future is bright for sure! Problem was that whole crypto market grew too quickly too much, but there are signs of technology and adoption catching up with the price. Here is take of our CEO about when and how can we expect next bull run  Institutional investors leading the bull run“It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures because I think it is an alternate store of value.’” — Rana Yared, Managing Director, Goldman Sachs "It resonates with us"?? Oh Goldman, you guys think way too much about yourselves. This looks like they want to just "fit in" with all of the "cool kids" on the playground. Too bad no one likes them. Sure, all of this institutional investor hype is fine and dandy, but I'm not so sure it has positive long term implications. I think it'll boost it for sure in the short term, and then it'll settle itself down at a more comfortable level. Besides, these institutional investors are just salespeople at the end of the day. They can't have you buying all of just one product. They need to sell their other shit as well. |
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We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated. Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.
The centralization of Bitcoin may seem at first like a threat to its existence, but it's probably the only way to effectively accomplish the things that you mention. Bitcoin doesn't really have the ability to be widely used as a currency at this stage like you said, but it has features of anonymity and tax evasion that will continue to attract people to use it. I can't exactly see it being widely used for day to day transactions, however. Cash will still reign I think because it is what makes things get done. You can get better prices, faster service, more favorable conditions with most vendors if you pay in cash. Digital money is still clumsy as well in my opinion. |
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I'm expecting a new crisis to arise in the next 4-6 years, i think what's happening in the loan and reposition industry creates a pathological state.
Banks are still feeling too safe for what they're doing, their mistakes will sooner or later bring on a decline.
Also considering austrian cycle theory, i'd say we're in the boom. Soon gold and solid cryptos might be the go-to when it comes to keeping your money safe.
How long do you guys think we have until we face the next crisis?
Only time can prove the Gobal financial crisis because some cycle says that we are already in the gobal crisis period and we would see a global crisis soon and some say it will be come in next 2 years, but i don't think it is to come in coming 4 years of time span in all over the world. Unites states might be in little bit of panic moe but other countries like India, japan are experiencing their best economical market conditions righ now and its going to continue for another few years. Japan is experiencing their best economic market conditions? In whose dream? Spending is so low in Japan that they are experimenting with negative interest rates to entice people to buy things. That means you actually lose money you keep in your bank account! As if banks weren't criminal enough already! Japan has been in a spiral of deflation for that past few years now and is starting to get desperate. Rumor has it they were even thinking of trying helicopter money, which is basically dumping free money on the entire country in hopes that someone will spend it. In the past this has only managed to cause inflation to skyrocket out of control. Good luck Japan. |
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There will be a new financial crisis and it's going to be soon. In less than 10 years soon. The housing bubble of 2009 is going to repeat, as can be seen from house prices.
Also there is a car loan bubble.
So we're in double trouble!
Put your money on Bitcoin on the double.
And then there is the incoming realization that climate change has irreparably lowered our future ability to produce food on planet earth. This will be self-evident to everyone in a couple of years. At this point, most climate change deniers will act as if they knew climate change was real all along.
These 2 things happening simultaneously (financial & ecological crises) will not be good for any of us. But bitcoin, if it can scale and become more private (lightning network & CoinJoin) will be awesome to hold.
Alternatively if the lightning network isn't ready, bitcoin could go from the moon right back down to earth and in spectacular fashion.
Yeah that car loan bubble has been kind of swept under the carpet. Not one will see that one coming. I don't think it could have as bad of an effect as the subprime mortgage did in 2009, but if the two trigger together, then we'd see it even worse. The difference now is that the banks can't bundle these loans up as AAA anymore. So there won't be as wide-reaching of an effect. But there could be something else that we didn't see coming. Maybe these loans are all tied to our individual accounts and we'll have to "bail in" |
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There have already been several shocks[1], and the world has been able to control it, so I do not expect a global economic crisis was leading to the collapse of the entire financial system. A breakdown may occur for some individuals, banks, large corporations or even countries, so diversification of the economy is the only way to avoid bankruptcy. Gold[2] and cryptocurrencies[3] considered as an alternative economic pattern of the current system, so if there is a global crisis will be offset by a wave of rising/falling of other systems. So far cryptos have not gained sufficient confidence as a guarantor of value, so it is better to invest in gold. [1] https://en.wikipedia.org/wiki/Financial_crisis[2] Macro-factors on gold pricing during the financial crisis[3] How Would a Financial Crisis Affect Cryptocurrencies?An entire collapse is unlikely with the system that we've built up. It's so intricate that it could never completely fall apart, it would just have to be restructured. Worst case scenario a "bail in" where tax payers rescue corporations... again. Gold doesn't necessarily gain value during a crisis. It spikes during times of high risk, along with Franc, Yen, and (now sometimes) Bitcoin. It gets monkey-hammered by major banks though so never retains value. And it doesn't carry interest, so isn't that popular for institutional investors. That's not to say you shouldn't buy it, I always make sure to have some gold hanging around. Just don't expect it to skyrocket. |
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I do day trading, so I want to know , How much time better for day trading analysis ? 15m , 30m , 1h , or 1d which time best for day trading analysis?
Depending on how much coin you do handle. If you do only focus on 1 coin lets say you are into bitcoin then 15m would be a good spot or depending on your time that you can lent where you can utilize your skills. If you do find out that you arent effective on 15m then you can go with 1hr chart. In my own way no matter which timeframe if i do see some good entry points i do usually make an order. Yeah this is another very important point. You've got to think about the volume and the leverage because if you're trading on really long term positions, you might not be able to handle high volume/leverage trades that could move against you. But if you want to take a big position on a shorter time frame, like the 15min, you can take that higher risk knowing that you would have a stop loss in case it went the wrong way. And those kinds of trades need to be babysat. You cannot really walk away from them. |
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Yeah it's always a preference thing, but I prefer to place longer trades because they have greater potential for immense profits. So I'll start with monthly (not very useful for crpyto though), then weekly, daily, 4H, and decide from that point if there's something worth investigating further. If I can see a clear reversal forming or a low risk high reward opportunity, then I'll go down to 1H, 30 min, 5 min for an entry. Sometimes it doesn't even matter at that point, as long as you give yourself enough room to be negative for some time. But if you're looking for real precision, you can work on the 5min charts.
1 min charts are quite aggressive and you won't find much in bitcoin because of the decentralized nature of it.
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Any time is a good time! Now is looking pretty good, and the time the OP wrote this was also really good. It all depends on your own timeframe. How long do you want to put the money in it? a month? a year? a lifetime?
You should define your own goal for the money and what you expect it to do for you. That will have your answer.
But make sure never to buy after it goes up quickly, unless you are very fast and catch it right away. Or if it's got a really good reason to go up and will keep going up for a long time.
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Finally a bitter truth. Its true that weak handed people drive this market lot of times. I mean most of the time they will drive this market to negative side and will try to dump as much quantities as they could. See, the effect of this panic sale all the time. Whales are always ready to buy no matter what happens with the market, because they know very well this situation is temporary and it will be back to the normal. They keep this attitude and that is why they are whales of this market. They are hungry in any way and keeps buying when weak handed sale. That is the way everyone should be reacting to market.
That's part in reason due to how easily people are influenced by other opinions they read about these things. Governments have known this since we carved words on stone tablets and have taken advantage of it to sway public opinion about things so they can more easily get what they want. If the people weren't so easily influenced, we wouldn't have central banks printing money and driving up inflation while giving us savings percentages worth half the value. We'd have fewer sheep and more wolves. But perhaps that's the dangers of economy, with too many wolves, there's nothing left to hunt. |
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One thing I know. Stop looking at coinmarketcap. That is a hell of fake news for me.
There is not much of a legitimate market of one crypto currency.
I saw a lot of projects which are really good and yet they are ranked at the thousands number. It is disappointing to see more people are relying on that and they are doing some math with the market cap and whatever it is.
Even with the good exchanges listed by them they are still somewhere at the bottom.
The market price notice is just the algorithm of the website being programmed. The price of each cash flow is due to the market or the owner of the project that updates the situation. All information is just behind them, the reality is very different. Do not spend too much time listening to the market. Be prepared for your plans to achieve certain goals do not be too greedy... Do you think there's a bit of favoritism going on with some of these sites? Some false promotion in exchange for some coins under the table? It's insider trading like on wall street, except no one will ever know it happened. That's what you've really got to be careful about with crypto. It's not worth spending much energy crawling through these sites anyway. Learn your own criteria for judging the value of a coin and then invest little by little until you have enough conviction that it is worth that money. And certainly, don't get too greedy or it might all disappear. |
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This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Very true point I think. The banks can just look around for new "assets" to buy in order to "back" their currency. Sure, bitcoin is capped at 21 mil, but there are always new ones that they can gobble up and then use that as a reason to keep printing (or issuing a digital version) dollars. The only thing I see holding them back is risk of snapping up an unworthy coin. Or being tricked into snapping up an unworthy coin by someone who knows exactly what they're doing. This could cause a bit of chaos as the coin collapses or turns out to be a ponzi scheme... |
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Cryptocurrency is safe enough, but human is the weakest part of any security system in the world, so first of all, you need to be very careful about what you are saying and posting wherever it is happening, they can use everything to get your money!
That's true! Cryptocurrencies are as safe as you want them to be. By design, cryptocurrencies like Bitcoin are safe and secure against attacks from hackers. However, due to the carelessness of humans, they expose themselves to become hacked easily either by using online wallets, centralized exchanges, sharing their private keys, or even the inability to secure their computer with the latest antivirus software and a good firewall. If people want their cryptocurrencies to become safe against unwanted theft of hacks, then they just need to follow the necessary precautions to avoid such things from happening in the future. Generating keys for a wallet without being connected to the internet is a good practice to help secure your crypto funds. In addition, using a hardware wallet would also protect you against undesired situations with your crypto funds. Therefore, by following such practices, you could avoid your funds getting hacked with ease. I myself, have been into crypto for a couple of years now, and have never been hacked because I always depend on cold storage, hardware wallets, and never disclose information about the amount of crypto balances I have. But, it's true that hackers always find a way to trick you and get your money, which is why, it's advised that you keep yourself updated against the latest threats to prevent your funds from getting stolen in the future. Good point. The trouble that people seem to be having with crypto is because the onus is on them for security. Up until now, the only security we've had to deal with is the pin number for our bank cards and the login password for online banking. Now, things become more complicated. This is why people shouldn't be outraged if money is lost. The exchanges aren't perfect, they can only do so much to keep their environment secure. Although if they want to preserve their reputation, they should most certainly have a team of fraud prevention experts working full time people have so much money in those accounts. |
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Quantitative vs. qualitative, right? Market cap doesn't mean anything in terms of crypto, or even stocks for that matter. Certainly, it's good to have a high market cap. But just because one is higher than the other doesn't necessarily make it superior. It might even mean the trade is crowded!
There are more important things that investors should consider, like the security of the system. The transaction ability, the blockchain, the protection. They want to make sure that their money is safe, not that everyone else puts their money in the same place. This kind of ranking is hard to do, however.
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After calling for a 7750 retracement in BTC as an optimal level to buy back in, there is another bullish possibility we are toying with right now, which we cannot ignore.
Although optimally we prefer the 7750 level, if this count posted below is correct, we may not see that level for another week or so, which means our plan at the moment is to re-enter Bitcoin now at current prices with a 25% weighting of what we originally had planned and buy more if we do see the lower levels as originally forecasted.
This means we would have to have wider stop losses at 7200, hence the smaller position size.
I think you're right on that one. It looks like it finished the retracement and is preparing for another leg up. I thought that it would be going down to the .618 fib level at the 7720 region, but it didn't quite make it that far. Someone seemed to have placed a massive order because the price just jumped all at once. Depending on how it reacts to this over the weekend and once the futures markets reopen, I'd expect it to be making another run up, at least to the 9000 region. That would be the most likely next profit target. |
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Still bitcoin is surviving
bitcoin has been surviving all along and it has nothing to do with the news and certainly has nothing to do with its price! it is surviving because of its usefulness, security, decentralization and a lot of other things. BTC had bumpy ride as the price goes. This is not the first drop in price and certainly not the last. It is just the matter of believeing in new technology. If you the technology is useful and revolutionary then you will hold. Blockchain technology is the most secure way for transaction. That's why bitcoin is getting popular day by day I don't think you can say that 'blockchain technology' is necessarily secure. Bitcoin is pretty secure because there's a very large tangible cost that needs to be paid in PoW for someone to try a double spend attack. But that's just Bitcoin. That's not something that is inherent to 'blockchain'. It's just a data structure. Yes, good point, because blockchain does not necessarily equate to bitcoin. The tool that the mechanism uses does not always amount to the same solution. Because one bank uses SWIFT payment system or IBAN does not make it as robust as another one. They have different operating standards which differentiate them from one another. I think there are lots of potential vulnerabilities in blockchain itself still, but bitcoin is more secure because of how it structures the data and has higher standards in terms of requirements for approval. This, consequently, also makes it somewhat slower than other crypto currencies, but in the end it is worth it. |
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