XRP is in a tough position because even if there is enough short term demand for it, the thousands of bots keep selling it down as they follow the general trend of the market, and it has been down for a while now.

Another thing is that Ripple has been selling a lot of XRP, and chunks of these coins are being sold continuously. I'm sure if Ripple stops selling large numbers of XRP, at some point the downward pressure will diminish and the price goes back up.

In the last years Bitcoin had a tendency to increase in the latter part of the year, but that backfired hard in 2018 with how we were going through a bear market, and chances are that we replicate the same scenario also this year.

We're still up this year, but we're not far from a 50% drop from where we were some months ago.... knowing Bitcoin, it's kinda safe to say that we have more room to the downside, and that in a much more brutal way.

We have had a large dump the moment we broke out of the descending triangle, but it wasn't as severe/brutal as the one we broke out of in 2018 after a very long period of sideways consolidation above the $6k mark.

Bitcoin and China go very well together because the people there are truly in need of it with how their overly oppressive government is tightening its control over them year after year.

In most western countries the need for something like Bitcoin is limited because the people there are not being chased after the way the Chinese government does so, and the Chinese people are also subjected to a currency war.

In other words, this is the perfect environment for Bitcoin to thrive, and it does. I expect the Chinese government to come up with even harsher regulations, but that will make people even more attracted to Bitcoin as freedom tool.

Bitcoin is quite similar to gold in the respect that it is seen as a store of value, and less so as a form of money that we all are using on a daily basis. It just isn't convenient to use Bitcoin as a daily currency.

Bitcoin doesn't motivate anyone to spend it, especially if the value keeps going up, which is why an inflationary currency works better because you have to spend in order to not lose purchasing power.... hoarders of fiat are losers.

The "job" you are referring to that Bitcoin did is just to go up in value a lot. If we look at the actual use aspect, it's not really picking up much because it's much more profitable to focus on speculation rather than actual use.

I'm just being realistic here. I'm sure Bitcoin will eventually break its $20k high and potentially peak out somewhere close to the $100k mark, but that still doesn't mean it's going to be used as a daily currency.

Do you seriously believe that large miners will reply to any of people's questions? It's in their best interest to not disclose their plans because there are a lot of competing miners that could take advantage of that information.

All you have to do is look at the chart and see for yourself what the market did during the previous block halvings---chances are that the conditions will rhyme because of how repetitive the nature of this market has been throughout the years.

Close. Most people complaining about the fees of Bitcoin do that because they have used one of the many shitcoins with fast and cheap transactions, and then almost blame Bitcoin for being slow and expensive.

People don't understand that shitcoins don't experience any use, so the transactions are always fast and cheap. Bitcoin can't compete with that and never will, but the best thing is that it doesn't have to because it works well enough.

At the end of the day, people are free to shift to any other crypto currency, but they don't do so because they know that not many are accepting the fast and cheap shitcoins. Instead, they continue to use Bitcoin and continue to complain.

So just because they list a lot of tokens they are not a scam exchange according to you? An exchange wants to draw as many people as possible to their exchange, from there it only makes sense they list a wide variety of tokens.

I have to do a bit more research to figure out how many of the complaints and scam accusations seem real and not made up by a competing branch, but the reason you state for an exchange to not be a scam is just hilarious, really.

Overall, the thing with these lesser known exchanges is that I wouldn't feel comfortable using them, so I will stick to the reputable exchanges that have been in the business for years.... better safe than sorry.

Considering that most people don't remove their coins from the exchange they use, it's fair to conclude that they don't care about decentralization and secure transactions. They are here for the profits only.

I don't see much wrong with that.... it's their money so they can do with it whatever they want. Another benefit of that is the fact that you can have a more rational view of the market and where Bitcoin could be heading to in the future.

There are too many moon boys expecting the price to reach $1 million and up, which is ridiculous.

CSW isn't the genius behind Bitcoin, but he certainly is a genius when it comes to manipulating the sentiment within the crypto community to such degree, that news outlets love to write about him and donate him popularity.

If news outlets weren't money hungry sluts and didn't donate him exposure through their countless shit articles, CSW wouldn't be as "popular" or widely known as he is today.... news outlets made him grow out to where he is today.

In a sense even this thread contributes to CSW getting more widely known.

Bitcoin won't ever be "destroyed", even not if it ends up tanking back to 3 or even 2 figure levels---there will always be a niche market where Bitcoin will be the in-demand currency, similar to how Bitcoin was used within SilkRoad.

The trust you are talking about is relative too, because in most cases it's all related to the price action---where price up means people have a lot of confidence in Bitcoin, but when it drops by 10% the same people suddenly start to worry.

OGs have always believed in Bitcoin's capabilities as decentralized/censorship resistant money, where the price was less relevant because they didn't see it as an investment asset, but as a tool to obtain freedom.

Looking at the chart of DOGE, it looks like there is room for more growth in the coming days, or at least in the coming weeks. Not many other altcoins show bullish signs as much as DOGE do.

I do however have to point out that it's going to be very important to follow Bitcoin's price action closely, because a lot of it will depend on that---if Bitcoin takes a dump it will translate into a broad altcoin dump fest.

As long as Bitcoin moves sideways, DOGE will keep doing well at least in the short term.... long term speaking I'm not too sure because DOGE always has these massive ups and downs to settle at its lows for a very long time.

Everything comes at a risk, even Bitcoin. It's impossible to say that Bitcoin is a low risk investment because there are so many aspects and variables that come into play. People lose money left and right by making stupid decisions.

Long term speaking Bitcoin is by far the best option, but if you're out to swing trade it, then there are just as easily many risks involved, especially when you mess around with high leverage trading.

The thing altcoins have going for them is that they can pump hard in a short period of time, but for that you have to understand how TA works plus have some luck to go with it.

Regardless of how much potential projects have, trading their charts is all that matters and for that reason it's so important to understand the workings of TA. Fundamentals matter much less.

It's bull food.... whenever they need an argument to claim a desperate "victory" over any more profitable asset during the last few months or years, they point out how much Bitcoin has gone up since its inception.

In a similar way, there are altcoins that have gone up millions of percentages too because they started at nearly zero. News outlets love these numbers because it provides them content for yet another crappy article.

Firstly, when compared to crypto volatility gold looks very stable, but outside the crypto market gold movements of 2-3% are considered big and they do affect whole industries relying on the metal.

Secondly, the price of gold doesn't increase each year---it has gone through a multi year bear market and has just woken up in the last 12 or so months. It's still far away from its all time high of $1.9k per ounce.

Prices can go down a lot in Bitcoin too, so it comes down to what side of the trade you are on..... luckily for people they can make money regardless of the market sentiment and direction thanks to platforms such as BitMEX.

That's not really the case based on how many Chinese investors have either crowded the local markets to buy Bitcoin, or found a way to use foreign exchanges to trade and speculate.

I have read an article about how a lot of the Tether in circulation is held by Chinese investors. It kinda makes sense as well because it provides them the freedom they need to trade without fear of confiscation.

I'm really glad that people in China don't let their government dictate their way to the degree where they can't trade Bitcoin anymore. People have that freedom with Bitcoin now and they happily use it.

As long as Bitcoin's price is valued in dollars, it's clear what the dominant currency is---that is the dollar in every shape or form. I not even for a second thought that Bitcoin would ever replace the dollar....

If we at some distant future see the dollar come to an end, it will be replaced by something yet again issued by the US government.... neither Bitcoin or gold will become a standard even though a lot of people hope for that to happen.

Bitcoin is fine being an alternative. Whenever you need censorship resistance, it's there for you to use at any time of the day, while fiat will continue being the main standard of payments.

It's not smart if your sole intention is to see the price go up. If you're long term minded enough, you can choose to keep hodling your coin regardless of the price because you have a target in mind. That's what I do.

There are some ways to reduce the risk of hodling though---there are people who short a small percentage of their hodl stash with a low leverage count to hedge a decrease in the price.

Whenever the price drops, that short position will function as insurance so that you don't get to lose too much.... going through a 50-80% correction without that short would definitely stress you out all day.

Neither. I know that OKEx is a wash trading exchange, but I have never heard of BKEX before.... considering that very likely most people haven't heard about that exchange, they must be wash trading their way into the top.

I remember that Coineal did the same when they popped up for the first time---hundreds of millions in volume but very poor traffic stats and no one heard of that exchange.... a report later exposed them as wash trading exchange.

They are. For years straight their volume in number of transactions and us dollar terms, has seen a net growth. If it wasn't a good company it wouldn't be doing this well for years straight.

I know that people here don't like PayPal and want to see it go bankrupt, but that's a very toxic point of view IMHO. I rather see them do well and further stimulate competition between legacy financial institutions.

At the end of the day, Bitcoin won't be any different if PayPal is doing good or bad---we are building towards a store of value asset rather than a transactional medium of exchange.

That's not going to happen. People's hope that it will get back to its all time high isn't backed by anything than another ICO boom scenario, similar to the one have had back in 2017/2018.

Ethereum was the only one back then, now there are many more platforms capable of doing the same. It had the advantage that all the money couldn't do anything but flow into Ethereum because of people's greed.

It's much more likely to see XRP surpass Ethereum's market cap and push it to nr 3 for ever. XRP has so many coins in circulation that it probably won't take much more than one altcoin boom.