How does that 'put bitcoin to the test' ? It's a future ETF, not a bitcoin ETF. Some may view bitcoin is facing a make it or break situation. As the starting foundation of crytpo it will be in the spotlight. With all the recent news many new to bitcoin are willing to jump in head first into shallow waters blinded by greed. At the moment fraudulent ICO's and other issues have proven the need of further clarity and expectations when it comes to investments. Having traditional platforms become the new norm will test its "metal" in the minds of more traditional and safe portfolio investors. Expect things like the above to be the testing grounds for how it will survive in the eyes of these old school investors. Tomorrow will be another milestone. Read more here. https://coingape.com/why-february-6th-is-significant-for-cryptocurrency-market/ |
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I know that in the past we were a small issue to most bankers. In fact bitcoin was refered to as "RAT POISON". However bitcoin its network and tech serves a greater need beyond how it is being used today. Also we have missuse via ICO's and altcoin trading pairs. Investment, monetary transactions, or store of wealth, are but a few applications for the tech. Dispite market manipulation to score that last dip. The future looks bright. http://business.financialpost.com/technology/big-changes-coming-as-bitcoin-futures-trading-etfs-launch |
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Sgbett, you have a crystal ball. Are you competing with masterluc to be a cripto-wizard?
We are really going to $4100. Didnt want to believe it, but now its clear by the charts.
"Bear or Bull" you cant ignore how monumental tomorrows proceedings will be for the cryptocurrency trading and investing. |
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It’s indeed time to call the bottom
1500 By Friday. Confirmed. Or perhaps even within the next 10 minutes. It's a toss up. Bear or Bull tomorrow there will be a slaughter. |
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@ STT Don't forget now that futures have been permitted, many expect that tomorrows dissensions will effect how exchanges operate. Read more here. https://coingape.com/why-february-6th-is-significant-for-cryptocurrency-market/"
The Senate banking committee meeting with the chief of US SEC and CFTC where they will appear as witnesses will talk about their roles to oversight cryptocurrencies that will highlight:
Cryptocurrency News 6th Feb:
On February 6, the Senate Banking Committee will be held and broadcasted live online
SEC’s chief Jay Clayton and CFTC’s chief J. Christopher Giancarlo will testify in the hearing
After India, South Korea, and China, it’s US’s time to be clear about cryptos
Agenda: “Virtual Currencies: The Oversight Role of SEC and CFTC”
On coming Tuesday i.e February 6, 2018, the Senate Committee on Banking, Housing, and Urban Affairs are going to have a meeting to discuss the regulations over cryptocurrencies. The heads of the Commodity Futures Trading Commission (CFTC) and U.S. Securities and Exchange Commission (SEC) will testify on the cryptocurrencies during this hearing.
Earlier this month, it has been reported that the CFTC chief J. Christopher Giancarlo and the SEC chief Jay Clayton will appear as witnesses. They are basically going to talk about the oversight roles by both of these Commissions on cryptocurrencies.
The hearing is entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.” This step came at a time when both the agencies are having heightened activity around cryptocurrencies.
There has been a number of lawsuits filed by SEC against allegedly fraudulent ICOs. CFTC is also scrutinizing the activities of Bitfinex and Tether among other cryptocurrency exchanges.
The US Senate Committee will be meeting both SEC and CFTC to discuss the regulations. This will give a regulatory opening to the larger financial institutions to invest in the cryptos. Or it will simply curb them. Whatever may be the effect but these regulations are surely going to come.
Feb 6th: More Regulations or Green Light for Cryptocurrency Investors in USA?
Some believe these regulations to be positive as control could help in decreasing the volatility while others think these regulations will block the innovation of crypto industry and would rather support creating own virtual currencies.
Recently India’s Finance Minister Arun Jaitley cleared the air around the crypto. Jaitley announced that bitcoin among other cryptocurrencies are not a legal tender and measures will be taken only after the report of experts group on the same.
South Korea has already made its stance clear on it by legalizing the trade in cryptocurrencies but only form real name accounts. Whereas in an attempt to kill the crypto market completely, China is blocking all the websites, domestic as well as the foreign platforms to cryptocurrency trading and ICOs.
In the US, the rules regarding cryptocurrencies are quite vague and this meeting is expected to bring out some clarity. Moreover, the governments around the world have made their stance on crypto clear. Now, it’s time that US provide clarity for investors.
The effect of this meeting on the market depends on the clarity it brings. It could either turn out to be very bearish or bullish. Without any clear set of guidelines, institutional investors couldn’t do anything. Hence, a clarity can also give a green signal to the bigger investors to get involved.
What do you think the February 6th hearing will bring forward? Would it be in favour of crypto market or will tighten the noose further? Let us know your thoughts in our comment section below!
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss." |
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RSI down 30, bitcoin heavily oversold.
I suspect the shearing will be complete after tomorrows delegation. https://coingape.com/why-february-6th-is-significant-for-cryptocurrency-market/"The head of the Securities and Exchange Commission (SEC) Jay Clayton and his colleague from the Commission on the US Commodity Futures Trading (CFTC) Christopher Giancarlo co-wrote a column for the Wall Street Journal about the crypto industry problems it the field of market regulation. In particular, it was considered the potential application of the existing legal framework to regulate the economy of digital money. Clayton and Giancarlo note, many compare the blockchain technology with a steam engine and the PC, which at one time was the driving force of the economy. Cryptocurrency initially positioned as an alternative to fiat money to speed up payments, however, underline the leaders of market regulators, their perception and promotion with a role of investment assets have a negative impact on their native intended function. Clayton Giancarlo urged investors to be vigilant because of the high risk, noting that part of the market participants does get a substantial profit. They also compared crypto boom of market with dot-com bubble in the late 1990s. At the same time they are not in any way seek to prohibit investments in crypto industry, because they believe that regulators should maintain technological progress. However, Clayton and Giancarlo are concerned that many crypto platforms do not comply with the requirements of the current legislation and do not even registered with the CFTC. Most of these platforms have positioned themselves as the payment system and not subject to oversight by the SEC and the CFTC. Thus, according to officials, it is necessary to question the effectiveness of the existing regulatory framework. In addition, they are reminded of the federal legislation is applied not in all cases, which complicates regulation by the federal authorities. Running Bitcoin-futures on the CBOE and CME was approved by the Commodity Futures Trading Commission, which has access to the data for tracking unfair practices on the market. The SEC, in turn, has focused attention on the market of ICO "intends to actively pursue those who break the law in the field of securities." Summing up, Clayton and Giancarlo acknowledged that blockchain can improve the performance of economic processes and lead to further technological progress in the financial sector. So, for example, is preparing to launch Safinus platform that will allow investors who have no experience in blockchain industry to invest without risk to become a victim of fraud. It will use a unique mechanism of joining the investment portfolios of experienced investors. In addition, the Commission intends to scrutinize the activities of companies that are "suddenly" started to be blockchain based from the traditional business sectors, then their actions demonstrated exponential growth. Recall, CFTC recently filed lawsuits against two companies about fraud and deception of cryptocurrency investors." |
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I have read some speculations that bitcoin price will possibly go down until $3000, because most investors sell bitcoin and put it in bitcoin cash, I don't know if that is true, if that is true maybe bitcoin cash will increase its price, I think ETH is also a good investment today.
Your best bet is to analyse the "Historic" charts for the past few days to see how BCH is the "NEW" tool to help blead alt coins like dash / eth / zec / and others trading valuation vs BTC. We have to also look at the ASIC mining hardware that is being introduced in the new two months and how it will effect the difficulty and operating costs. If you use history is an indicator emotion & day trading is not a good mix. |
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With all this miss information going around it is best to be weary of anything people say at this time. There is special interest groups that are both attempting to push their agenda. BCH to alt trading pairs have been for the last few days devaluing ETH and attempting to justify some speculative charts going around. What you have been seeing is nothing new. This time of year since the introduction of "alt" coins people have been using those trading pairs to pump / dump. We have exchanges that are not audited and verify the amount of BTC they hold and may be doing fractional reserve trading in 5x leverage. We have new from December floating around as if its news about Tether potentially being a fractional reserve. We have India's finance minister saying they are cracking down on how cryto is to be used being used illegally. While at the same time saying they are looking on how they can use it responsibly. We have facebook and other social media outlets cracking down on "scam" ICO offerings much like penny stocks have been used to defraud people of their life savings. WE have a big evening on Feb 6th that may prevent such shady trading translations that are occurring on exchanges, such as insider trading, collusion and out-rite fraud. ALL THIS, Gives fuel to over zealous market makers - "Market Takers" to pump and dump their own agenda. In an unregulated bear market with the shorting potential, try not to for get that there is money to be made especially if you can "steer" or "manipulate" the market in the direction you wish using what ever tools you can. In other words FUD.  |
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Look. We're now well into a 15-minute chart correction and the market is as calm as a sleeping baby. Not a hint of the panic of the last 48 hours. That shows you. It was all market making by ultra-aggressive shorters. They had their covering level targeted the whole way down and once reached, left the building with their "winnings". That's why we got these pummelling dumps on the turnaround from the bounces on the way down.
I wouldn't be surprised if there's still a significant part of the market that's short and yet to cover.  I am 100% in agreement. |
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Dint notice that at all.
Glued to price action.
Gaving you all my merit. For noticing that..(Unfortunately had only 1,lol)
It is not the first time. In fact its almost clockwork during this time of year. First time I noticed was back when LTC gpu mining was a thing and dodge fun coin was created. |
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down we go.
Word to the wise and caution for thew new ones. The crypto market can be easily controlled by special interest groups using techniques such as conclusion, misinformation, and insider trading that would net them some jail time in the traditional stock or currency markets. For the last 48 hours it's obvious how both ETH and LTC are slowly being devalued against BTC via the introduction of BCH trading pairs between BCH/LTC BCH/ETH BCH/DASH BCH/ZEC. Coins such as EOS that only have BTC and ETH as trading pairs have remained untouched and have gained in BTC valuation. It works with those fud charts that become a self fulfilling proficiency with just a little help from old market manipulator... Wink wink nudge nudge know what I mean? Remember oldschool and new day traders regulation that has helped the "traditional" market manipulation is not present in the crypto currency exchanges. Perhaps on Feb 6th we will know more on how steps will be enforced adopted into this market. Market manipulation to devalue XYZ crypto coins in favor of abc coins leave behind clues that may get such participants in trouble in the forthcoming months. |
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Now that Bitcoin is gaining tracking traction by the old boy's expect to see more of these overlooked Loopholes plugged.
My only advice is to avoid exchanges that don't comply with common sense rules that crack down on fraud and other "market" exploits such as insider trading.
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The next wave of the crash is expected to commence when $11,325 is crossed below; and, it would psychologically only just begin the "fear" stage once $10,700 is crossed below. A speculative short position entered at $11,325 with a stop-loss at $12,100 may serve as a favorable aggressive risk/reward swing trade to ride the next wave down to approx $8,000. A more conservative entry would be to enter when $10,891 is breached. Prices quoted are BTC/USD (Bitfinex).  Thanks for fueling the pump down males for easy BTC accumulation. |
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Just buy the dips and profit. |
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funny how the 40% bch drop took the pain out of the btc drop. go bitcoin go lol
IMO after the locked up bch was released. Those cashing out or selling bch and exiting to fiat is what caused this mess. |
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If you think liquidity is an issue now. Just wait until the big boys start to realize they need to balance their holdings with actual BTC so that they can play in the market. All other alts will benefit.
The big boys just want to short it to the ground, to keep their status quo. They will pump it, of course, but the dumps will be even worse. Get used to it, this will be normal now. Do you think they want a rich Earth, where the work is done by robots and everybody lives in comfort? Thats a programmer pipe dream. They can mostly manipulate from 10k up... before the futures were not announced. Many bought the dip now, so if they want to manipulate the market again, they need to spend more (plus, we will become more prepared as they continue to do so) Maybe some hodlers fail to hodl at 10k, but let's wait and see A good indicator is always to look at the total crypto market cap. As you can see with the recent release of BCH from coindesk that "moved" out of the crypto ecosystem into fiat of choice. Also year end is a big player not to rule out the Elephant in the room groups attempting to take over BTC. That coup d'etat that fails but never gets a hint will add further disruption. |
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If you think liquidity is an issue now. Just wait until the big boys start to realize they need to balance their holdings with actual BTC so that they can play in the market. All other alts will benefit.
The big boys just want to short it to the ground, to keep their status quo. They will pump it, of course, but the dumps will be even worse. Get used to it, this will be normal now. Do you think they want a rich Earth, where the work is done by robots and everybody lives in comfort? Thats a programmer pipe dream. In all seriousness the status quo is going to take a huge hit. Back in 2008 when there was a credit liquidity issue we did not have the Bitcoin (BTC). The next global reset in 2020 is were BTC and this technology will shine. One of the most important things that we have seen since 2009 and unfortunately the worlds greed snaked its way into this project early on. BTC had a solution for it as greed does have a place and helps motivate people. However fear is another tool that is used to manipulate. That fear is when those in power show up with rules to bring "order". Add in projects like lightning and the value that BTC brings to the issues we face just 2 years from now will be so obvious even legally blind economists will see the possibilities. |
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If you think liquidity is an issue now. Just wait until the big boys start to realize they need to balance their holdings with actual BTC so that they can play in the market. All other alts will benefit. In 2020 it will be 20/20  |
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all coins are in red...this is crazy
It's WONDERFUL! Mine mine mine mine mine. Om nom nom nom. |
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