after the recent drama with Bitfinex and their Tether shenanigans which causes a short term backtrack we are once again on the rise heading over to $5600 to try and break it.
if it succeeds today we can see a big wave of FOMO to shoot the price above $6k easily in less than half an hour.
so far it seems like the buy power is strong enough to break it today. what do you think?

this was a funny find where Google twitter handle says they don't believe in legality or long term viability of the altcoins such as ETH

we all know about the centralized coins that are always pretending they are decentralized. for example XRP is the most centralized coin of all times but every time they advertise it they claim it is not. the same with a lot of others.

so i was wondering if there is a centralized altcoin that accepts it is centralized and is transparent about it?
i am interesting in knowing how successful a centralized but transparent altcoin can be compared to a centralized but lying altcoin.

[629%]

what everyone keeps talking about these days (which is during crash) is how big crashes used to be and how big it will get now,...
example: Historic BITCOIN crash

but something is neglected in my opinion and that is the recovery that always comes after these "crashes". so lets assume this is a crash and i don't care how low it may or may not go. lets talk about the recovery, whenever that might be:

here are some examples based on bitstamp prices:
2012 recovery, August: $2.25 to $16.41 => 629%
2013 recovery, April: $7.1 to $259.34 => 3552%
2013 recovery, December, also a fake pump: $45 to $1163 => 2484%
2016 recovery, June: from $152.4 to 778.85 => 411%
2017 recovery, December: from $465.28 to $19666 => 4126%

where will it go to in the future after the recovery? 5000%? to $400,000?

as you may know bitcoin cash hard fork on August 1 is a possibility to happen and a couple of exchanges said they may add it.
from what i have been hearing, people will treat it mostly like any other airdrop altcoin and will start selling.

in this topic i want to explore the scenarios that may happen because of it.

1. people sell BCC to fiat and use that fiat to buy bitcoin or at least use some part of that fiat to buy bitcoin and bitcoin price rises. which is already rising and this can be in anticipation of that.

2. this scenario only works under one condition: there should be NO BCC/USD market and only BCC/BTC market. in which case people may sell their BCC for BTC then sell that BTC or part of it for fiat and that may cause some dips in bitcoin price.

3. it doesn't matter at all. bitcoin price is already rising, nobody is taking BCC seriously and bitcoin price will continue rising because it had all its FUD and downtime already and SegWit is coming...

i say #1 is the most probably scenario. tell me what you think?

[Blockchain congestion detected]

i just realized that bittrex (the exchange that always use) have disabled all ethereum deposits and withdrawals with the warning about Blockchain congestion detected under it.

and meanwhile the price is dropping fast and hard.

this is not exactly the best practice but for all the altcoins, specially those known to have serious problems such as ethereum, it is best to always keep them on exchanges to dump them fast and always cash out the BTC or USD to cold storage.

to all you who have your deposits stuck and are losing money, you have my sympathy.

edit: i can see other exchanges have done the same. Coinbase is saying "investigating..." (https://status.coinbase.com/) and i have heard that poloniex has also been experiencing issues.

a serious bug was found in Coinpayments.net's Ripple wallet that helped many users to withdraw excessive amount of Ripple without even having the balance to support it.
and apparent this bug was exploited by a lot of people. and when people do that, they go ahead and sell those coins before they get caught.

so how low do you think XRP will go because of this dump?

so my suspicions were true.

ever since the news came out the volume coming from China has picked up and now the 24 hour volume is even higher than USD markets according to bitcoinwisdom.com

and the price has actually caught up with the rest of the world. currently bitcoin is worth 15850 CNY which is equal to 2300 USD which is nearly the same everywhere.

by the time the news came out there was about a $300 gap which is now gone.

so it seems like Chinese exchanges fate are finally coming to a conclusion. the AML laws soon to be applied to these exchanges and they say Withdrawals will possibly start in June.

so how do you think this affects the whole market, with all the Chinese big exchanges being out of the game and now a lot of hungry Chinese traders coming back with their price being much lower than USD value (practically free bitcoin at this point).

currently ~10100 CNY = $1,463.25

link: http://www.newsbtc.com/2017/05/10/chinese-bitcoin-exchanges-may-resume-btc-withdrawals-june-new-regulation-introduced/

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

i have always said that it is not easy to predict bitcoin price, and future is not clear. but some things are just dumb.

for example saying that price will go to $10,000 in a couple of months to a year just because there was a rise.

the same thing goes for saying price will fall down to $500 just because a price correction happened after a fast rise to $1160
now that a couple of weeks passed with price above $800 and entering $900 range now, all those users saying things like "Crash", "since there was a drop it will drop more", "$500, $400, back to $200" have disappeared, waiting for another tiny drop to come out and start saying the same stuff again!

with the new change in price moving up to 760-770 USD i think $800 price by the end of this month is easily possible now.

what do you think is needed for this rise to happen or ensure it?

i want a free - open source bot that i can use for trading altcoin on major exchangers

can anybody introduce one to me?