(.....) So my question is for trading veterans here do they use it or is it really overrated thing which serve no purpose in real time trading?
These basics foundation of trading are the ones I consider important too. And the things that other traders don't care about are the things that are important too for example is the candlesticks. Using candlesticks and analyzing will help you to analyze the next move of the price or the market structure which you will also use if you are doing other analysis like support and resistance analysis, you will be able to use candlesticks there to help your analysis more precise or good.
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First of all, before bitcoins run out in mines maybe I won't be in the world anymore, and won't know or experience new things in the future because technological advances will continue to develop that we don't know about. So I can only enjoy the benefits of bitcoin as long as I exist. (...)
Yeah, the effect of limited supply or how the Bitcoin works like the mining rewards or transaction fees from miners is not, so noticeable especially during these days, Bitcoin created that the will stay for long term. For example, the Bitcoin block halving event on Bitcoin which the rewards per block that being mined is reduced for some period and that is how the supply or difficulty of having Bitcoin generated is slowly as time goes by.
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and will lower transaction fee.
The latest information reaching me is that the merge will not have any reduction in fee, which is disheartening to me. But the other advantages are still welcome developments. You might want to read this: https://ethereum.org/en/upgrades/merge/Good that they have this article which is more likely a FAQs. This will help some people who are having hopium about the good effects of The Merge to the network of Ethereum. The Merge seems the first step before the Ethereum network will totally become cheap in transaction fees or fast transaction speeds, and based on the article which clearly says it's like transitioning from proof-of-work to the proof-of-stake mechanism.
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Will they hold them or not sell them at once? This is the important point. No problem if it doesn't sell. (....)
For sure those Bitcoin are not forced to sell immediately with the market price once become available. Even those Bitcoin will be sold to the market, who cares? There are still a lot of people buying Bitcoins these days. There are still buyers. This could be a FUD also that they are spreading.
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El Salvador made bitcoin a legal tender, Singapore has not made bitcoin a legal tender, the second country that makes bitcoin a legal tender is Central African Republic. (....)
Exactly! Bitcoin being a legal tender in a country is a different story compared to other regulations from some countries, Singapore is the best example by OP. El Salvador's current situation on Bitcoin is superb compared to other countries even as you say crypto-friendly country. So, if Singapore will start using Bitcoin as an "official" legal tender, that's the time I can consider Singapore followed El Salvador.
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(....) Many people are asking why I bought this coin as the price is slowly decreasing. Yes it is normal because it is estimated that bitcoin price may cross 30000$ this year. And another advance I can say that those who want to trade should buy bitcoin now if they can, they will see big profit very soon.
I'm glad that there are like you that are not expecting the price of Bitcoin will go in just a short period of time, especially before this year will end. Avoid listening to those people who got have negative thoughts at all, you bought it because you analyze it and you are believing in it, it's your own opinion. Your price target for this year is almost the same with me, it's on between $20,000 - $30,000.
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Is it possible for ethereum to be dumped even lower than its yearly low price that already achieved last months? i don't even think that was possible to happen. Ethereum likely to go even higher rather than the current price. POS was a key to make it happen. Why don't you buy when it was at the bottom? you are talking to buy that when it was reaching at the bottom which is impossible to happen for sure. I believe on it.
We still can't be guaranteed that the POS or new update of Ethereum will have a good effect on the price of Ethereum right now, the pump could be already finished at some point before, it's like "buy the humor, sell the news". The price of Ethereum is really good, especially since it is already doubled the price from its yearly low this year. For me, 50% from its yearly low is a good buy for me, which is around $1300-$1600 I think.
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This is very difficult to answer because overall we don't have a general/official basis of how to say or identify if a market is on a bear market or bull market at all. With the recent pump of Bitcoin touching $25,000 it could be just a bull trap, we'll never know. Some people are also telling or before they satisfy that bear market is over is when there is new all-time-high created.
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https://www.coingecko.com/en/coins/hathorIs this what you mean OP right? I just checked their websites and yeah, this project is really new. I saw their own blockchain network, there are already blocks and a few transactions. Their transactions are still few or not active at all, there are some transactions by minutes/seconds. It seems they are transparent at all. They are already listed on Kucoin for now which this exchange is using by a lot of people to find a hidden gem.
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Investors of Shiba Inu may be like investors of Doge coins who expects that the price of those meme coins will be higher again like the previous ATH. They wil expect much moreover in the next bullish era. The question is whether they are able to reach it or not. (.....)
Just an example of how hype works during the pre-bull run season - bull season. I am now excited about how Shiba Inu now will play versus the original meme coin which is Dogecoin. Which is like Bitcoin versus Altcoins. I can't wait for the people tell me that in the future, I rather bought x coin than a Shiba Inu coin, the x could be the dogecoin, to be honest. Dogecoin is already here for long time, just like Bitcoin.
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(...) Now I am thinking about getting into meme coins or nfts. (...)
Since you are doing only tradings, I think you stick with it for now. No matter what pairs you are trading even shitcoins/meme coins as long as you are still applying your trading skills or knowledge there like doing some technical analysis, especially on the charts, it's all good for me. You started really well you must stick with it for some time because it means you are doing the right things.
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(.....) But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
Price action of Bitcoin for me right now since last month is really superb for me, very natural and looks healthy. Less huge candlewicks on daily candles which for me a healthy market right now. After the dump from it's all-time-high, I can feel the correction is already done and we are now creating a very long horizontal support around $20,000 - $30,000 level.
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For me, I have a buying zone. It is around $1600 or below of that price. When Ethereum touched the $2,000 level earlier and it seems rejected, if you take a look on EMA 180 on daily timeframe, it is showing that is the resistance right now and it was tested earlier but rejected. For me, we will test again the $2,000 before visiting the $1,600 level.
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(.....) I learned about NEXTSHIB from this review. I just bought 1 million coins, but I don't know if I made the right decision... Pure hype only just like the Shiba Inu which is just a copy-paste of a well-known meme coin called Dogecoin. But if you are just here for profits, you can gamble on those random shitcoins called meme coins, if you entered at the right time and sold at the right time also without getting losses, congratulations. But because of these kinds of hype, a lot of people losing money because of these random meme coins.
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There are also lot of traders who called the local top is already the $2,000 recently and everytime Ethereum hit that level, they are shorting the market. I am afraid again that the effect of upcoming update of Etherem which is The Merge that will become "Buy the news, sell the humor" which probably the effect of The Merge on the price already happened earlier.
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(......) It is possible that we can see Shiba Inu coin to be traded against USD at 1:1 ratio.
Hahahaha, this is very impossible to happen. for me, Shiba Inu is just a impostor of Dogecoin. Dogecoin is like Bitcoin of meme coins, where Dogecoin will always stay and other will vanish where they are just pure hype, and the original will always stay.
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It is just an assumption, a baseless statement means nothing. You can't just simply think this NEW project that you have mentioned will become known and beat old coin ADA. (.....)
Exactly, that's why Cardano (ADA) is still on top even how many years passed by, before Cardano (Ada) versus Ethereum (Eth). But for me, Ada is really far away with Ethereum. But now, Ada versus any smart contract platforms. For me, Reef could be a quality project but for me, it's too early to assume, Cardano (Ada) is already far away ahead compare to other non-ethereum blockchain platform.
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(....) I hate altcoins, they made my dad lose money and they are just imitating bitcoin, a lot of altcoins are just to scam money and then disappear, and the real king is bitcoin. So I call on everyone to join me and only believe in Bitcoin, abandon those altcoins that cheat money, and just follow it!
Most of people who started in cryptocurrency especially those people few years ago for sure lost lot of money buying random altcoins, even me , I can admit it. If I just hold Bitcoin instead of buying those altcoins, I have no losses at all and profits were good. This is the power of Bitcoin, the highest market capitalization on cryptocurrency market.
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The even U.S. or any government will continue to print unlimited fiat without considering other things? It looks like a bricks that will fall. Supply is still unlimited, it's still difficult though. For me, there are still lot of ways how to overcome if you will start from your self, there are lot of ways.
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Since the beginning of bitcoin it is basically in a very volatile uptrend. It is not likely that it stays like this forever (50+ years). (....)
I am thinking that more volume or market cap on Bitcoin even if the price is not that so high, will help the price of Bitcoin less volatile compared to what we experience for the past few years, and even now, volatile is still huge for me compared to other assets that already got high trading volume, it's just a sign we are still early.
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