Not possible life without bank because many people need to borrow money from the bank and make their business, not available for borrowing in bitcoin and altcoin and then not have institution available for every one could borrow bitcoin or altcoin, now day many country have several bank kinds and give good service for every one to save their money.
Yes its not possible for now because banks has a participation to our economy to boom. Its like a cycle giving and taking. So crypto and banks will co exist and that would be beneficial for us right? There's no need to get rid the banks because its essential part of our lives and economy. Banks aren't that important for those persons which are only dealing in cryptocurrencies but if someone wants cash then they somehow always need a bank in the process. Also for the people who doesn't know about bitcoins and what cryptocurrencies are, they always need banks and are an essential part of their lives. There should be a way devised to remove the necessity of banks for selling and buying cryptocurrencies in general. If a project is developed to solve this problem then I bet the ICO will raise tremendous amount of funds. Well, those who invested or dealing in cryptocurrency only will need banks soon. When BTC hits ATH, they will convert it now into fiat and where do you think they will put that huge money? definitely in banks. Banks always serve as a great part, especially in our economy. It has a lot of advantages and makes it very important that must exist in a community. I was also saying the same thing that banks will be needed in the process if the seller wants a safe option of selling his coins or maybe e can convert his coins to USDT for some time until he finds an alternative. Although exchanging bitcoins for cash in person is also a good choice but the privacy factor and security gets compromised in the process and it is a concern for many people while dealing in cryptocurrencies as they prefer to be anonymous most of the times, but if they want to skip the banks as a mediator then they have to sacrifice the anonymity. |
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Right, this could trigger a mining war, but I guess the one that going to benefit is us, bitcoin enthusiast. And perhaps mining companies now are gearing towards the next four years of bitcoin mining and then wait for the imminent bull run. It might take longer than expected though, but at least they are going to be prepared, making bitcoin mining business a billion dollar business. And for sure competition are going to be tough as well.
A few years back this used to be a business for all and anyone could have profited with it with a decent computer. But now this is only the business for big boys club and other small players are also exiting the market because of the unprofitable market for them. The number of huge data farms is also rising in remote areas with a lot of hash power just for the purpose of mining Bitcoins. I guess for other people who own small rigs they should now move to other coins and hope to make a living with it. |
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Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.
Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.
As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.
Even after more than 10 years of its existence bitcoin is still considered as a new currency and many people say it is digital gold which also holds true. Bitcoin is actually a safe heaven when it comes to both, the finances and security as well. Bitcoin wallets are more secure than traditional bank accounts as they can only be accessed by the password of the owner or the private key that they have, they can't be bruteforced by someone(at least there isn't any known case of it happening in the real world). In terms of your money as well it is a safe heaven as it is always rising in value and it will continue to do so because of the code and rules on which it is built upon. |
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Not possible life without bank because many people need to borrow money from the bank and make their business, not available for borrowing in bitcoin and altcoin and then not have institution available for every one could borrow bitcoin or altcoin, now day many country have several bank kinds and give good service for every one to save their money.
Yes its not possible for now because banks has a participation to our economy to boom. Its like a cycle giving and taking. So crypto and banks will co exist and that would be beneficial for us right? There's no need to get rid the banks because its essential part of our lives and economy. Banks aren't that important for those persons which are only dealing in cryptocurrencies but if someone wants cash then they somehow always need a bank in the process. Also for the people who doesn't know about bitcoins and what cryptocurrencies are, they always need banks and are an essential part of their lives. There should be a way devised to remove the necessity of banks for selling and buying cryptocurrencies in general. If a project is developed to solve this problem then I bet the ICO will raise tremendous amount of funds. |
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The market for altcoins might change int he 2nd half of this year if the ETH 2.0 will be successfully launch.
I know there's no definite date yet as Vitalik has not confirm the launch date, but people are already speculating and they want it sooner since they have been waiting for too long. When ETH dump, the rest or most of the altcoins lose its value, so maybe ETH would be the answer to bring back the bullish market for alts.
You are right people are waiting for ETH 2.0 for quiet a long time and it can lead to a bullish price of the entire altcoin market, but the problem here is that if ETH 2.0 doesn't get released quickly then this upgrade won't have any effect on the price if released on a later date, or maybe the price can also fall due to more delays in the update. There will definitely be more delays in the update due to Covid as the pandemic is still affecting individuals in living their normal life and do their work. |
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Yes the corona virus was really affecting the market but we can still trading as long you know how to make profit with the situation. For now the market is stabilizing so it is good to trade.
Market isn't stable at all in this time as bitcoins are changing a lot hands and a lot of accumulation is going on, bitcoin is preparing for its next move and most probably it will show us a bear market which will make people loose a lot of money if they won't trade with this mindset of a bear market and have a lot of longs open. I myself is having a few shorts still running from $10k price from the past week and I am hoping for the price to fall further in $8k range for an even greater profit. |
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True! Coronavirus brings both positive and negative effects on the cryptocurrency market. I can't stand watching people say that our market isn't affected by the global pandemic. That's ridiculous. There's no market can get rid of these effects from the global economy. Everything is connected in some ways. Obviously, our cryptocurrency market is not being affected as much as other markets but it doesn't mean there's none!
Can you give an example what negative effects the Corona virus on the Crypto market? I think it just gives a positive side to the Crypto market. Because people start to stay at home so that makes them bored and confused about how to make money, so they learn Crypto trading or learn various knowledge about Crypto world. You are right, Corona Virus makes many working people stay at home and they are in a confusing state whether how to make money. Crypto market is another source of income and risk with the cryptocurrency is also the same, people who have knowledge towards trading will make a profit through trading. I was thinking that the Corona virus may lead to decline in the daily trading volume of bitcoin, but your opinion sounds more logical and now I think that there will be an overall increase in trading volume of bitcoin. Also the number of people signing up for trading courses will also increase exponentially because they will try to increase their knowledge and if people related to wall street also start to seek interest in bitcoin then it can also help in pumping up the price of bitcoin. |
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For experience in cryptocurrency trading, I have traded this coins and find out how volatile these coins could be, to avoid this loses, you as a trader must develop a strategy to trade positive. Although the first time I traded was a laughing stocks because I lost all my trades. But getting the needed tutorials from good traders made me up to were I am today. Now, I can trade cryptocurrency for gains and am into daily trading of cryptocurrency.
This is what we should learn from our losses, most people are afraid after they loose big for the first time in their trading career and then probably they quit trading because of that loss and also because of loosing again, but instead they should search for their mistakes and try to improve those mistakes because if they won't learn from their mistake then there are high chances that in the future they will again fall in the same trap and can loose an even bigger amount. |
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That's not impossible to happened, because not every people knows about bitcoin or cryptocurrency many are believing in the rumor that bitcoin is a scam that's why even though they already heard about it they just ignore it. I think that's your time to introduce or explain how bitcoin or cryptocurrency works.
This is due to the numerous scams and in the ransomware attacks which asked for bitcoins as a payment method. Moreover the news channels also describe bitcoin as a currency that is used on the dark web for illegal purposes, after watching this do you believe a person can try to buy bitcoins. Also there should be media campaigns that should advertise bitcoin as a currency and as a method to send money across borders without any significant fees and also we need to change the people's mindset towards digital currencies so as to increase the awareness and acceptance world wide. |
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Not effective way how to stop covid 19 because until today not country success getting medicine for this virus, maybe we need waiting one years will effective virus covid 19 could stop and get new way to resolve all problem right now. Many people waiting for when they can travelling around the world and many countries open for tourist.
Without any proper vaccine this won't be possible at all, because then the quarantine will be necessary for every person who travels to other countries so as to stop the spread of COVID. Moreover the cases are also rising day by day and this can be worse if the poorer countries also experience an increase in number of COVID cases which rise exponentially by community spread. Vaccine trials will take much more time than expected because of human trials and other formalities. |
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The combination of babypips and YouTube video of technical analysis will go a long way in helping you out, there are some cool dudes on YouTube who give a well detailed explanation on it, the reason I prefer video tutorials to babypips is because it tends to be less boring
YouTube is having tons of information about crypto investing and technical analysis along with the explanation of how they got the resultant graph that they are showing in their video. Also there are a lot of things that we can learn from traditional trading books, many things are also same in crypto just like trading stocks. Also practice is the most important in learning along with the theoretical knowledge that we gain from the books, because you will make many mistakes when you enter the market that you learn to rectify with the experience that you gain with time. |
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Actually, it's common to see such prediction especially if the price movement is doing great or if someone invested a lot, of course he/she will create a hype. A lot will be happy, including myself if this thing will happen but I really don't take such prediction seriously. As of now, a 6-digit price is still a dream for me, unless will beat the ATH and will pass atleast 50-100% of it.
Happening of this is also going to be a big deal for the market as it will double the gains of many people and they will be thinking of selling their coins for taking the profit which can cause the bull run to stop for a while, but if enough people hold on their coins and there will be a small number of people selling their coins then surely the price of $150k is really achievable. But not in the time range as said by the tweet, cuz its a lot of gain that is speculated in a small time period. |
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I think it could possibly dump, we never know actually, bitcoin was just stable between $9k to $9,400 but it happened that it dumped, so we never know what's coming but I have a feeling that bitcoin will not be bullish until the end of the year but I don't also think that it will be trading below $5,000 again.
It's either we end $6k by the end of the year or above $10k.
for now, no one can predict the price of bitcoin specifically and for certain. we can only guess. but, I don't think that the price of bitcoin will fall to the price of $ 6k. however, maybe the worst possibility is the price of $ 7k, well that is my prediction. it's just that, I still believe that the price of bitcoin can reach more than $ 10k by the end of this year. The higher possibility is of bearish market which is going to happen in the coming months and I also believe that the bearish market will be of only short term then the price will rebound and will reach at least $15k by the end of the year or maybe in the first quarter of year 2021. Could we expect the market to continue to surge high, definitely, not? The market will still nowhere to go, ups and downs are a usual thing to see around.
No, the market won't go up now because a lot of factors are pointing towards the start of a bearish market now. A lot of times the bully tried hard to cross the bar for starting the bullish trend but failed to do so. I am having all my funds ready to purchase bitcoins once there is a big red line in the market and I am sure of it that it will happen in the near future for sure. |
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Is this "Buy the dip" method still working now?
Buy the dip method always works in the crypto market, even a few weeks back when the market crashed and bitcoin price went below $9k then also buy the dip method was working. In the past market dumps also you could have made a decent amount of profit trading the dips. Flash crashes are the best for making sure money in the crypto market and has never failed me in my career till now. I also brought about $700 bitcoins recently when the price was at $8100 USD and I am in profit now. the risk of losing assets is something that must be accepted for those who are ready to trade. it is a must. many people who have been looking for ways to avoid these risks, but failed. so, everything you need to prepare, especially risk. I agree with that statement.
But with some market education and by reading books related to trading a person can always lower the risk that they are taking and make money with almost no risk at all. |
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A lot of people run away in trading because they mostly don't understand what they are doing, they usually think crypto trading is easy as pie but in reality trading is not that easy. Specially if you dont have any patience and risk management in trading.
Those people were running away from trading, of course once they had earned money from trading. Who's given up, after all again everyone will start trade. I don't quit trading because trade profits are always possible. patience is the key to success. My patience is becoming low when the price drops. To recover from these losses, I have to accept losses or hold coins for a long time. In trading altcoins there are always high chances of you getting REKT, also many a times I have been struck in pump and dump schemes holding that hyperinflated bag of coins. Instead what I do now is margin trading as in it I only have to do technical analysis of a single coin which means more focus on that particular coin and hence less chances of failure. Moreover people also move away from trading because of the fact that they loose big time in trading or it went bad and then they got afraid of loosing it again. |
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There are several traces of newbies finding signals here and there to trade, but it is wrong. Believe me If you want to trade consistently and profitably just learn how to do it yourself no matter how difficult or how long it takes.
You can subscribe to signals if you're the type who wants to earn while you learn but long term.... Learn trading by yourself
People use trading bots now a days to do trading and also those who sell the bots advertise the bots as a method of earning profit over your investment. This is a pretty bad choice as there are many instances when people loose due to bots, in which they don't know why they loose their money and won't learn anything new from their mistake, but if they do the trading personally then they will always know what went wrong and will improve on their weakness and not let it happen again in the future. |
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Nowadays, it is very hard to earn money. One of the saddest part of being an employee is your company cannot afford to five your salary so you will be fired by them. I know I am lucky because it did not happen to me. But knowing that there many people who can't afford buying anything they need to survive is such a heart break.
While the Government is trying to find funds for those helpless, it is also a heart break that a country's debt is multiplying.
That is case in mamy countries. Governments try to help but their sources of money are also limited despite the loans and similar and businesses are strughling to service. They are trying to cut all expenses they can and very often that applies to employees too. Yes, good decent paid job will be harder and harder to find and I'm afraid we are not even at the begininig of real crisis. As the economy reopens around the world we are starting to enter the era of financial crisis, already before the corona virus spread the experts were saying that there is going to be a financial crisis in the near future and now due to COVID this fire will spread on an even faster pace then ever before as a lot of people have lost their jobs, businesses are shutting down and there is increased Border tensions around the world, all of these factors will have its impact on the world economy and thus the start of financial crisis. |
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Apologies if this comes up a lot (as I'm sure it does) but when / how often do you feel is best to buy the dip?
I know its not an exact science but I've heard a few different preferences on this such as:
- When the price decreases x% on the weekly/monthly candle
- When the price moves below the weekly/monthly negative average
- Only a couple of times a year after a major correction
- Just look at the chart and go on your experience / gut
I mostly follow my guts and sometimes I follow a few of the experts that I follow on twitter. Like the time when there is a flash crash in the market when bitcoin price falls more than 20% then you always know it is the right time to buy bitcoins, at that time I buy bitcoins as at this time I am sure of getting a profit on my investment because bitcoin will surely go up in the future. Also when the price isn't moving up for a long time I usually sell a large part of my holdings as there are high chances of a market crash. |
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Okay guys, and any platform that works with signals that come from reputable traders? As I said I used these platforms in the past, but didn't get promising results, so I would like to get tips from guys that already using them and have profit.
Thank you!
You getting profit from the signals totally depends upon many factors, whether that coin is prepumped or not, are you fast enough to trade that coin, are you holding that coin even after the peak of the pump. Many people who provide signals always buys first or do whatever is told in the signal first and then sell it to general public and this always guarantee profit to those people who are providing the signals other people are the ones on whom they are dumping their coins that those managers brought a long time ago. |
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