How low will we go? Will we see early 2017 prices before the end of the year? Very likely. Will Bitcoin Cash finally take its rightful place at the throne? Good possibility, prepare your orders.
Usually an asset go for a long suppression state after such a massive rally. Unless, it's being widely adopted and scarce like btc. If you study bitcoin charts, all the indicators are showing more appreciation instead of any impending dump. Regarding BCC. Definitely bcc is good tech wise than btc. But still there are lot of alts which can outshine any btc fork on tech. A flippening will take place definitely, but it won't be any of bitcoin forked coin. |
|
|
|
|
We might see fiat as an inflationary and badly centralized currency. But we tend to forget that we need a centralized and stable currency for a better economic growth of a country. A decentralized currency is not really decentralized. For example, bitcoin, some few percent are controlling the maximum volume and can play with the market any way they want. Government needs tax for the nation development and taxing bitcoin isn't that easy. I don't feel unless a government launch their own cryptocurrency backed by something, fiat are going anywhere.
Fiat and cryptos are going to coexist!
|
|
|
|
Seeing the current bull trend of bitcoin, it makes me nervous each time it surge because I am thinking how low will it be when it makes the correction and besides that, it seems this signs are showing to what is happening right now. Maybe it will happen sooner or later or maybe it will be different this time around. Whatever happens, we should always be ready when the storm comes. I'd like to present the works on major bull trends by H.M Gartley who wrote Profits in the Stock Market (1935).
How to recognise a bull market ending.
1. The daily volume has risen to an all time high.
2. Wide daily fluctuations are a regular occurrence.
3. Nearly everyone you meet appears to be in some way interested in the market.
4. Most financial news writers and financial commentators can see no reasons for any important decline.
"The thought of a bear market being around the corner is not seriously considered".
"A bear who presents what appear to be sound and logical reasons why a collapse is imminent, is considered to be either an out-and-out dyspeptic, or at least a very unpatriotic citizen."
"He can count on being very unpopular".
"Each bull market breeds a crop of traders who fail to recognise the unmistakable signs of a storm." This is quite different, could be applied to GOLD, BITCOIN is not going away. Traditional STOCK in 1935 was just paper pulled out of their ass and traded on WALL-STREET, not unlike US Dollar fiat today, printed to infinity with zero cost to FRB BITCOIN represents a new shell, a new totem, a new way for mankind to represent his wealth and transmit it anywhere in the universe.
But why bitcoin? Why not any other better cryptocurrency? There are tons of cryptocurrencies better than bitcoin and have actual utility which bitcoin lacks. Bitcoin is just a store of value right now and a technology can't be a store of value because technology goes obsolete. I don't believe bitcoin will sustain it's value just on the basis of an alternative to traditional monetary system when there are better technological options available. A cryptocurrency is definitely a future but it won't be a bitcoin. |
|
|
|
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point. So here we can highlight three categories of people with negative attitude, based on their Сryptocurrency experience: - no experience, whose vision based mostly on rumors; - bad experience, those who previously failed in Сryptocurrency investments; - outdated experience, that comes from traditional economical and financial concepts. Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected. With "outdated" I intended to underline that traditional concepts are not enough to understand Сryptocurrency. And with that you are most probably targeting those economic experts who are constantly calling bitcoin a "bubble". Because those experts don't fit in the other two options and that is what I was talking about. |
|
|
|
|
Why not? What will sustain the value of bitcoin in long run? Is bitcoin meeting an unmet need?
I believe bitcoin and most of the altcoins won't survive for longer. There might be one or more cryptocurrencies that can make it big at the end, but that might not have been launched yet. Bitcoin just can't keep on running because of first mover advantage. Technologies go obsolete and hence bitcoin can't be a store of value. I believe market is such a mess right now that most of currencies you are holding for long term will go 0 in coming years. Here I am not talking about BERL (bitcoin, Ethereum, Ripple, Litecoin). But these are highly overvalued right now.
Market is irrational right now and irrationality always ends in tears.
|
|
|
|
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point. So here we can highlight three categories of people with negative attitude, based on their Сryptocurrency experience: - no experience, whose vision based mostly on rumors; - bad experience, those who previously failed in Сryptocurrency investments; - outdated experience, that comes from traditional economical and financial concepts. Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected. This growth in bitcoin is not natural. How can a technology be a store of value? Market is running irrationally right now. Coins with actual utility are being dumped.There is no better proof of a market in peak irrationality when coins like emc2 got a Mcap of $500million while Ven, power, CVC are at half of it. No TA is working. Just a FUD or rumor can play with price. If bitcoin doesn't get stable soon or have a correction, it can be scary imho. |
|
|
|
Because of the problems and the brakes in the Ethereum network, the ETH course now reduced. It's time to buy it. But it could be another pullback (up to$ 400) if you look at the charts. Of course not like this. It would be better returned to the bullish trend
I have heard that the etherium network is very crowded these days since there is a popular cat game, I do not much about that game, but I hope this problem can be solved in the near future since I think it will limit the future of eth. Cryptokitties are partially clogging the eth network yes. However, there is a common misperception among the crypto community that this is stopping people from transact, which is clearly misleading and may lead to unnecessary FUD which in turn just compounds the original problem which is scalability. I personally think this is a lack of knowledge and/research since I conduct several eth transactions almost everyday and rarely get delayed after last eth upgrade - simply raise your gas to 450k and Gwei to 60 - yes it will cost you a bit more but at least you keep getting fast confirmations. So, in my view, the problem are not the kitties, in actual fact, I think they are positive to strengthen and grow mass adoption, gain new markets, push use cases into the "normal" realm that loves games/collectables. The scalability problem for eth has always been there and still is - same can be said of many other big coins, such as btc, kitties just happened to be the first Dapp that triggered this sentiment and sense of urge. |
|
|
|
http://www.bbc.com/news/world-latin-america-42217798BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto? Personally, I see more inflation and Petro failing terribly. If this is a cryptocurrency that Venezuela is controlling, then I don’t see how it would help. Their currency is virtually worthless from what I understand so the citizens value foreign currency like the US dollar or independent cryptocurrencies like Bitcoin that hold value. If it’s a cryptocurrency run by a bankrupt government, how can that hold any value? How are you even comparing Venezuelan Bolivar(fiat) to this cryptocurrency Petro? Bolivar is backed by gold whereas Petro would be backed by Venezuela's oil, gas, gold and diamond wealth as stated by Venezuelan president. Venezuela is oil surplus country. I think the crisis they are going through, trying this move won't hurt. It might be a successful step. They are in more than $100bn debt. Something is better than nothing to save this country from on going economic crisis. |
|
|
|
The government initially sought private financial records of approximately 500,000 account holders. In response to Coinbase’s continuing fight, the IRS significantly reduced the scope of the summons to approximately 14,000 customers
This IRS and Coinbase legal better is indeed turning in favor of Coinbase. IRS reduced the demand of 500,000 account to 14,000 which is almost 97% reduction. Also, Coinbase stated that the earlier demand of documents by IRS has also reduced significantly. Thus, a half battle is won. Bitcoin brought a culture of financial anonymity. This legal battle was an important step in view of taxing cryptocurrency. These exchanges are running on the promise of maintaining user privacy. However, they still need to give 14,000 records. But a small check by IRS over on going cryptocurrency transactions won't be bad as well as stated by IRS that it would in favor of customers only. I have been following this suite for sometime now. I understand that there are also some high-profile politicians who themselves opposed the move by IRS to demand the release to them the details of the said half-a-million customers as this can indeed be a big breach of privacy. The pressure became one of the many reasons why they reduced the demand to just 14,000 individuals. Any government agency can not just demand from any business to produce such gargantuan information out of the business' clients as there has to be proper proceeding that has to be meet first. Generalizing things may not be the order of the day. IRS have to be specific on what they are demanding. On the part of Coinbase, they are fighting this order because this order can cut into the life and blood of their business...when people feel that their information will never be secured then they would turn their attention somewhere. Coinbase is first in the league of going against IRS summon. They have themselves stated that many of the exchanges are giving IRS user's information without any questioning. They tried to fight against that for safeguarding user's privacy. So, it isn't like exchanges are really concerned about user's privacy when it comes IRS. Coinbase is bringing this issue on the floor and doing a better effort. |
|
|
|
The government initially sought private financial records of approximately 500,000 account holders. In response to Coinbase’s continuing fight, the IRS significantly reduced the scope of the summons to approximately 14,000 customers
This IRS and Coinbase legal battle is indeed turning in favor of Coinbase. IRS reduced the demand of 500,000 account to 14,000 which is almost 97% reduction. Also, Coinbase stated that the earlier demand of documents by IRS has also reduced significantly. Thus, a half battle is won. Bitcoin brought a culture of financial anonymity. This legal battle was an important step in view of taxing cryptocurrency. These exchanges are running on the promise of maintaining user privacy. However, they still need to give 14,000 records. But a small check by IRS over on going cryptocurrency transactions won't be bad as well as stated by IRS that it would in favor of customers only. |
|
|
|
|
Why there is a heated debate of bitcoin being a bubble?
No intrinsic value: ✓
Not much utility: ✓
According to Wikipedia
"An economic bubble or asset bubble is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value."
So yes, the major concern of bitcoin being a bubble that went intense recently due to insane increase in bitcoin price is indeed justified. Thus, many are comparing it with the famous .com bubble.
But bitcoin is not a company that can fail. Bitcoin is not centralized that can be controlled or crunched by banks or governments. Bitcoin is providing a completely different outlook to financial landscape. I believe, to measure bitcoin growth using available economic indicators is wrong. Bitcoin is like a revolution that have given people monetary freedom from centralized institution (that a person would never have realized). Bitcoin might not be extensively being used as currency but people are parking their dollars in it to save their money from fiat inflation that we have seen recently in Zimbabwe. So, many have followed!
Bitcoin is certainly not a bubble!
|
|
|
|
|
I am interested. Can I get an idea about how much you charge per tweet?
|
|
|
|
Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?
Altcoin market is full of amateur and teenage traders who are mere copying others. Whales are running and manipulating the market, can pump any coin anytime and exit with profit. Technical indicators are worthless here, tbh. Market is highly being run on sentiments. A single rumor has enough power to dictate the market. Earning through day trading is indeed enough for financial freedom. You can easily get 10%-50% on coins by just following news along with some TA. But do keep above points in your head and do trading with less amount to get the idea of the market before jumping in completely or leaving your job. Even I am preferring day or short term trading right now because of Bitcoin's bullish movement. Alts are behaving oddly since October and same will go for more months. So, better to stay for short term except for some large cap coins(long term hodl coins). Good luck! |
|
|
|
|
Definitely not sure about year end price. But the next leg of pump for BCH might start today or tomorrow. BTC difficulty adjustment is in 10hrs. I expected Bitcoin to correct a bit due to this, but that doesn't seems to be the output and I think this all because of tether scam. Some 5 hrs back there was a 1k BTC buy wall for BCH at 0.2 BTC. Speculation is that miners will jump from BTC to BCH just before the adjustment, this will clog the mempool on BTC and BCH party will start. Good go for short term traders.
|
|
|
|
 What the hell is with tether volume? All the technical analysis for Bitcoin are going in vain because of this. Yesterday I was looking at hourly charts that was clearly indicating a correction in Bitcoin price. But what I have realized is that when Tether's 24hr volume> marketcap. Bitcoin FOMO irrespective of technical indication. |
|
|
|
|
I was analysing Bitcoin's hourly chart. It has just formed a death cross on hourly basis that indicates a correction to $7500-$7600 level. But Bitcoin has strong support at $8050-$8100. If Bitcoin breaks $8050 level, then a correction might take place. But that will be of short term. After that Bitcoin will recover and can easily make a $10k up to Christmas.
|
|
|
|
|
I am quite doubtful about the second part of the OP. I don't feel long terms traders are at all nervous of Bitcoin bullish run and are exiting/booking profit. Recent tether and Bitfinex scam was pointing towards another Mt Gox, but so far everything seems back to normal. I don't think there was any major confusion or mess among traders. But I do agree with bubble statement. The figures are indeed correct that Bitcoin won't be in any bubble atleast until $5 B marketcap.
|
|
|
|
The popular Indian bank State Bank of India(SBI) is embracing the use of blockchain for it's smart contracts related to KYC.
This is surely a positive move towards cryptocurrency for India since using the blockchain would need a cryptocurrency.
This move will then be followed by 27 other banks which will create a positive impact in Crypto community. Although this is a good news India don't trust on Bitcoin as it is not much secure and stable as said by them and hence they will be creating their own coin for doing the transactions.
We hope that this will bring them closer to understanding that bitcoin is safe and a very good thing. But knowing what poverty level there is, at most 20% of the population will be engaged in bitcoins and it is still unclear. India is ranked 2nd with almost 35% of its population as internet user after China. Even if 10% of 1.3 B people get into crypto that gonna boost the demand to very high level. India is an emerging market for cryptocurrencies. This crypto trend has increased a lot recently in India with almost all the local exchanges going through high traffic issues and also Bitcoin is being sold at premium there. If SBI(the largest public sector bank of India) is going to adopt blockchain, then that will definitely raise awareness among Indians regarding cryptos. |
|
|
|
|
Show Posts
