Remember 2017 when we used to pay $50 for a simple transaction on the Bitcoin network. Nobody talked about it then in the media. I think it’s mostly due to the fact that most speculators never actually use the network. They either buy some ETF, or futures or they just leave it on their Coinbase account.

Same is happening with ETF. And their fees are more or less inline with what happened with Bitcoin in 2017 and nobody in the mainstream media complained about it. Most likely people are just in it for the big bucks and not really concerned how it actually works. Same with the people who buy certain stocks, they barely know the company , just like the company name and invest.

Looking at the chart, it looks like it entered bubble territory in 97 and didn’t actually burst until 10 years later so not the most reliable indicator. Kind of like most indicators for Bitcoin prices when it goes parabolic, sure it’s overbought but can be overbought for a very long time before it starts to peak.

What’s going on now with Evergrande and Zillow won’t really affect home prices. At least not in the near term. What can affect home prices is perhaps fed rates which I think would make home prices for flat rather than trend up like for the past few years.

I don’t think the legal debate between Craig Wright will have any effect on BTC price. After all with all the evidence presented, most people know he is not the real Satoshi. I think people are thinking that it’s wise to buy his BSV coin because he will dump all 1.1M BTC on the Bitcoin network which would cause the price to crash.

A bigger issue is the Mt Gox distribution which will happen in 2022 sometime. This might have an effect on price because most likely some people will take profits and sell. At least some of their coins and when the time line is released, many will sell their coins well in advance because they think price will crash.

All those groups, free or paid. Are just pump and dump scam groups. They post some low cap coin which they already own and then they pump it on the channel. Tons of people buy and it might pull a 20-500% move while the  pump group already sold. And there is somebody left holding the bag.

Usually the ones who get in early and get out quick profit but most of the people end up holding the bag which ends up becoming worthless. You won’t find any hidden gems that go 100x in those groups. I would stay away.

Yes I heard they were going to dump and he posted why on Twitter and complaining something about the fees. And later on he apparently changed his mind and sent it back to his cold storage wallet.

I am assuming he wanted to sell at a higher price and never got it filled. The markets took a huge dump due to Omnicron news and he probably bought more on the dip and withdrew everything back to his cold storage.

Next month, who knows. At $5K ETH he might send it there again to sell.

First of all. Crypto trading is different than stock trading. All of crypto trades are based on a percentage fee while stock market trades are more of a flat fee per trade rather than actual volume.

So in crypto you can buy $10000 and if you got a fee of 0.1% your fee is $10. If you do double the volume then it’s $20

With stocks it’s usually a flat fee so if you buy 100 shares of a stock worth $100 which makes the value $10000 you can get charged a flat fee of $10. If you do 200 shares it’s still $10. But if you buy 1 share then it’s also $10.

CRO seems cheap because it’s less than a dollar however the market cap is already huge. We are at $0.60 but we got a $15B market cap. So if you are expecting $3 that would mean that the market cap would be like $75B which would make it pretty much the #3 coin unless tether keeps printing more and more market cap.

It would still be less than BNB which is at $100B however how many people do you think use Binance compared to Crypto.com
Sure they got great ads everywhere and stadiums however I think most advanced traders rather use Binance for trading than crypto.com

They are however a good way for new retail traders to enter the space. Very user friendly and everything.

This is one of those situation where people are saying that “all gaps must fill” like with the CME futures. Basically if you do some testing you will find that most of the gaps are eventually filled. However there are some which are not.

So even if $1150 was to eventually fill, you have no idea on the time line. It might end up filling finally in 50-100 years and that won’t help you. I also assumed in 2018 when we were at $3K that $1K would be a perfect area to long because it’s a textbook technical analysis level and many others did too and it never went there. Those waiting missed the opportunity.

It’s hard to say what will happen in Q1. If you look back at 2018, most assumed that Bitcoin and other cryptos would keep rallying but it was the exact opposite. Kept dropping until the tax deadline date and then started to trade sideways for the rest of the year.

Now look at Q1 2021, most assumed that it would drop due to tax selling like 2018 but it was the complete opposite. It had a very healthy first quarter. So it’s hard to say how 2022 will look.

Right now the ways it’s trading it’s hard to see a new ATH this year however you never know with crypto.

This move was largely in correlation with the stock market. It started on the day after Omicron was becoming an issue and it just got worse and worse with all that tapering and raising fed rates talk. You can easily compare the two chart and see that when BTC was rallying and then all of a sudden the stock futures were red, it started to sell off also.

And a few days ago the stock market started to rebound and so has Bitcoin. Most alts already recovered and BTC looks like it will retest that $53K resistance soon. So I can see some upside from here.

I could see the last prior ATH of $20K being retested, after all we came to $28K in the Summer. However I don't think we will retest the $1K ATH, if ever or for a very long time. I think if bitcoin actually went that low it would be due to some major event. For example, if Craig Wright actually was indeed satoshi and he sold all his 1.1M BTC at the market.

However I don't see that scenario happening. The $1K retest was possible maybe in 2018 and we came close to $3K. However I don't see it actually pulling back what 98.5% of its value, even the crappiest altcoins didn't go down in value that low, I don't think BTC will. Maybe $20K is possible, maybe $18K however not $1K.

Do you live in Venezuela ? I heard they are cracking down on mining there because the power is subsidized by the government and they don't want their power used for mining. I don't think this will be easy because these days there are easy ways to find miners.

One way miners get discovered is just by looking at the electrical consumption. Many early miners got visits by cops because their electrical bill went up and the police assumed they were growing weed. Another way is by thermal imaging, usually some helicopters fly around and look for any areas where there is massive heat where it shouldn't be.

Keep in mind that technical analysis won’t help you alone. Basically at any point in time on the chart with price there is some indicator that is selling you to buy and sell at the same time. You need another reason why.

My advice follow the general trend, also look at fundamental. And what really seems to work in crypto is looking at the funding rate. When too many people are bearish at the bottom, go long. When too many people bullish at the top go short or at least don’t buy at that time.

If it was just as easy as looking at a moving average then everybody would be trading and the markets wouldn’t exist.

So since BNB chain is pretty much centralized by cz. Any word if they will Blacklist those addresses and tokens or are they already sold and converted into ETH.

This is actually the only one good thing about a centralized token or blockchain, when thefts happen they can freeze the funds. Like when Tether got hacked a few years ago they just blacklisted those funds.

The stock market futures just opened and it’s almost up 1%. And crude oil futures are up 2.5% and most important there wasn’t much Omicron news over the weekend. Seems that people are starting to move on.

So there is a good chance the stock market will start to rally again after this sharp sell off and cryptos will take off afterwards. There is still the issue of tapering and fed rates however that will be a larger issue towards the end of Spring.

No idea when the OP sold his GALA or SAND but those already at one point took a 50% hit from ATH. And it’s only been 1 week. So there is a chance that his alts that he sold will be worth 90% less than ATH in about 6-12 months. So I don’t think there is any GPU he can buy today that will lose its value by more than 90% within 6-12 months. So I think he did good.

I remember there was a website in the past which showed alts coins and their drop from ATH and majority of them were >85% and many were at 99%.

Remember cryptopia? They would list an alt and when it reached 1 sat they would start an LTC pair and it would again go to 1 sat in LTC. Basically lost 90% of its value and another 90%.

Hard to say what it will be at the end of the year. Most likely where it is right now. However I am pretty sure at the end of next year it will be something like 99% from its ATH price.

This is a meme coin and basically it’s like a pump and dump stock. Don’t hold it long term. Now it’s on support and might rip higher to a new ATH but eventually it will be one of those coins which is at 90% loss from ATH like we had in 2018-2019. Be very careful with Shiba.

It’s hard to tell what can happen. Usually there is less trading going on closer and closer to the holidays. And I don’t think crypto is going to go anywhere unless stock markets find some support somewhere. Currently there are many traders which are losing tons of money and getting margin called.

Since Bitcoin is correlated then it usually leads to a sell off in crypto assets also. So unless we got some confirmation that tapering is post poned or that Omnicon variant is nothing to worry about , then we will either keep dropping or trading sideways.

Yes I also assumed that $69K wouldn’t be the top. I figured either the $74K fib area or $85K which was another fib projection area or when CAD and AUS pairs are trading at 6 figures. Didn’t think $69K could be the top. But you know how it is. We all assumed we would get one more rip into ATHs and we would all sell before $100K and instead the opposite happens.

Now with the holidays coming and then tax harvesting selling, I don’t see it happening in December. Maybe in Q1 if there is some catalyst such as Elon musk accepting Bitcoin again. Either way this was a flush that we needed. Way too many bullish people recently.

Unless you are playing with money you can lose then you always need to have an exit plan somehow such as a stop loss.

Imagine seeing Bitcoin go to $69K and you bought the dip at $67K because people on the internet promised you $98K Bitcoin at the end of November. And it kept going lower and lower and lower and lower. And most likely you couldn’t take the losses anymore and you would sell at $42K like last time. If you used stops at like $65 or $64K and reevaluated your situation you wouldn’t be in this mess holding a huge bag.