The Tether drama didn't do much other than potentially making people cash out profits a bit sooner. The premiums on exchanges other than Bitfinex aren't that significant which indicates confidence in the stablecoin.

It's going to be very interesting to see what will be happening now we're so close to $6000 on Coinbase and Bitstamp. I personally believe a massive wave of sell orders is going to be triggered soon.

How often does it happen that such an import area breaks with its first attempt? Not a lot, and when it does the demand is strong enough to eat through all the sales. Seriously considering to add more to my short position....

Because you are a high volume Gazprom client to enjoy the benefits from their *potential* utilization of blockchain tech? If that's not the case, there is no good news for any of us here.

People act like the blockchain tech will revolutionize economies, but financial institutions and other entities will NOT share the efficiency benefits with their clients. People will continue being used as cash cow.

It will also not legitimize this space as long as the mentality is still leaning towards "crypto being frauds but the underlying tech is an important breakthrough". Be careful what you wish for.

There aren't any banks using crypto currency transactions. It firstly isn't appropriate to do for financial institutions due to the instability and the lack of legal classification. Secondly, the transactions are irreversible.

Financial institutions always need the security of having the option to reverse transactions, which is also the main reason some financial institutions are looking into the development of private blockchains they completely control.

I think that you severely overestimate people's ability to recognize scam attempts. There are still people who receive phishing mails and send their bank card with the pin included because their bank has told them to do so.

Once their bank accounts are wiped clean and there is not even a single penny left, people finally realize that they have been scammed. For us it's hard to imagine that people fall for this, but it happens a lot.

What also happens a lot is that mostly Indian scammers pretending to be Microsoft or Apple randomly call people telling them that they urgently need access to their desktop or laptop in order to patch critical bugs.

It did hold, but the thing with support levels is that the more often you test them, the more likely it is for them to break. We have had two tests of the 200WMA after the bottom already, and I prefer to not see it be tested again.

Currently the 200WMA hovers around $3600 and a break or a wick could easily retest the previous low (double negative in my opinion). The close after that will tell what the market will do, but again, I rather avoid these retests.

Doing the opposite of what the mass is doing has almost always done its job well. People were bearish before the pump to $5000 and a massive pump we got. Some really believed we would hit $1xxx levels....

Currently the mass seems to be overly bullish, which is why I am still short. I still expect a sub $5000 correction and I don't think we're that far away from it. The market is overbought and doesn't seem to be that strong anymore.

Of course, I can be wrong and we break through $6000 effortlessly, but that in my opinion is very unlikely. The massive resistance there will keep us busy for a few more months at least.

It's not over yet. During the next bull run people will be paid out on a long term basis due to how much new money enters their platforms, and this will motivate noobs and influencers to hype the shit out of it.

I am strongly of believe that we will see another BitConnect pop up too, and with even more victims afterwards. People lose their mind during bull runs and we have 2017 to function as an example of what we can and should expect.

People also think ICOs are done and over, but that's only the case right now. With ICOs bubbling up so does people's greed. 100-1000x returns is what they are after and they don't shy away from burning their life savings on these scams.

It's admittedly very hard for people to focus on things other than the price action with how the price is all you hear and read about. Most old timers here started out as speculative get rich quick noobs, don't forget that.

In all cases, people will end up finding out what Bitcoin really stands for. Sure, it might take a year or two, but we have to remember that this isn't a sprint but a marathon we're participating in.

If all people valued Bitcoin based on what its built for, then we already would hover over the $1 million mark. This opportunity for me means a long term process of accumulation. I appreciate the opportunity.

Renewable energy is already a big thing in the mining industry, but even if Bitcoin's entire energy consumption consists of grean/clean energy, those who are against Bitcoin will still refer to it as energy waste.

The problem isn't the energy consumption at all, it's just an excuse they can fall back on to point out how harmful all that energy consumption is. Politicians and other haters don't like Bitcoin and will use anything to put it in a bad position.

The battle against Bitcoin won't stop until even the politicians acknowledge and actually use Bitcoin themselves. It doesn't have to be as a currency, but store of value as digital gold is fine too.

The first part is purely the result of ignorance. While the older generation is difficult to get on your side being Bitcoin, it's not impossible at all. It will require Bitcoin to be more user friendly first, the rest comes later.

In order to be better than fiat, you can't endlessly leverage the decentralized nature of Bitcoin being a selling point, because most people don't care enough about it. Bitcoin needs to be exponentially more useful than fiat to make them switch.

The second part are fools. There are always people who can't stand new developments. Gold bugs are quite similar in that regard--they'll always look down on Bitcoin because they can't accept that it's better than gold in every way.

Offering a stable and honest platform would be a good start and ultimately a necessity. Also, asking people 1001 different questions and continuously rejecting their verification attempts can be done different as well.

More transparency from your side will help not only users save time (and money), but also yourself. This is a fast moving market--trolling people with silly questions while their funds are frozen is NOT acceptable.

It's not your fault. Most people here think they are experts and don't need valuable input from others when it comes to trading, fundamentals or other important indicators that matter in trading.

Dominance has been quite an important metric so far, which I wanted to trade on, but unfortunately didn't do. The moment Bitcoin's dominance tanked to almost 50% flat it really looked like Bitcoin was undervalued, and it actually was.

Round total market cap in billions also matters a lot, which in Bitcoin's case was almost $100 billion and this time I did trade that event by shorting Bitcoin, and it worked out well for me. Some times you have to take that risk.

You're right, but the thing is that when the majority of the people pay attention to the same sites, regardless of how good or bad they are, they will matter. In case of Coinmarketcap, it really does matter.

There is the so called first, second and third page effect. The higher up the list you are, the more traffic you can expect, and thus more people will be tempted to invest in your project.

I dislike seeing these sites have that much importance nowadays, but things are as they are. Coinmarketcap is currently in the top 500 websites of the world, ranked as nr 478 right now.

$1000 is highly unlikely, but $3800 isn't that unrealistic. We could reach $3800 and still have a higher low, and it might even be quite healthy for the market to plunge from where it is right now.

Fomo by definition is not really a good thing. It means that you either waited too long because you're too conservative, or you miscalculated the trend entirely and discard everything you initially valued just to be on board.

That being said, patience is the most important aspect of trading and investing in general. Even if you missed out initially, if the trend is up, you can still ride it up for a longer period of time and still make decent profits.

Their trading volumes went down because whales left that exchange. Currently there is less than 90k BTC left in their main cold wallet, and this for such a 'large' exchange is very alarming.

The premium there indicates that there is a lot demand to sell USDT for BTC and withdraw directly after. It wouldn't surprise me if we see another 10-20k BTC being withdrawn from their main cold wallet this week.

Anyone still using that exchange is a retard--you're basically begging them to pull off a scam on you. The only thing this exchange should do is disappear from this ecosystem. Today rather than tomorrow.

At some point the elasticity of the price will decrease because of how much we have gone up already. Bitcoin won't continue doing x10-x100 bull cycles endlessly. I'm sure we have a few bull runs left before we get there.

Gold is at that stage already. In order to combat the lack of volatility, brokers offer x500 leverage multipliers, which make BitMEX's x100 leverage look like a joke. Bitcoin will follow a similar path in my opinion.

I actually enjoy the wild swings of this market because they offer an interesting trading opportunity, and it reminds me of how relatively early we still are. These revolutions happen only once every few hundred years.

People have gotten too sensitive to everything regulating bodies do. What people don't understand is that they are in place to protect investors, and they will do everything to make sure the rules are respected.

They aren't working against crypto services, crypto services are working against themselves because they fail to comply with regulations. Seriously, how many trash services do we have in crypto? Too many to count....

Look at Coinbase, they do everything the right way legally and have even been granted approval for their own coin backed fund, which is something legacy institutions can only dream about right now....

If you do the right thing, legally, there is nothing to worry about.

If we want Bitcoin to be everyone's currency, this has obviously to change. It's great and all that millennials are on the upper hand, but I would like to see the generation after that consider Bitcoin a viable option too.

Bitcoin as it is right now doesn't scale, is too difficult to use and doesn't provide much utility over fiat currently. I'm sure that with time things can and likely will be different, but with time isn't now, and that's important to remember.

Same here. I can't stop feeling somewhat worried whenever I have a trade open and go to bed, but I do accept the risk I expose myself to, and I always use relatively small positions.

People seem to have a strong dislike towards banks, but they at least know what they are doing, and you enjoy some degree of insurance over your funds, which can't be said about one single crypto exchange here.

Overall, I think it's only a matter of time before banks start taking over by utilizing their existing position in the financial system and even outcompete crypto exchanges by closing their bank accounts.

How can you expect a government to have a positive outlook for crypto? The first thing on their mind is having the centralized ecosystem become regulated one way or another, and this will definitely be felt by people.

Governments have been extremely slow with catching up on crypto, so the more "crypto friendly" they become, the more likely it is that their improved understanding of this space will lead to harsher regulations.

Japan is a great example of that. It started out as a Bitcoin friendly country, then suddenly turned into something that even Binance as the largest exchange couldn't handle, which is why they chose to leave Japan last year.