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Author Topic: CAN ANYONE PLEASE SHED SOME LIGHT? WHAT'S WRONG WITH BTC?  (Read 396 times)
eann014
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February 05, 2018, 01:56:40 PM
 #21

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.
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February 05, 2018, 02:08:18 PM
Merited by Gatorelf (1)
 #22


OK, I'll cut straight to it. I see all these people saying "Yeah it will be fine" and "it always bounces back".. etc etc..

But ARE these people just saying it with hope or actual knowledge?

Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?

As far as I knew from last week (or so the news went) Saudi Arabia was going to be highly involved in btc and I presumed the price would boom again. I love BTC and I love anything to do with crypto, but I'm truly scared and anyone that says they're not I think are either just trying to keep a straight/strong face, and are basically all as scared as me.. (well I hope they are, as this shit is getting serious).

I'd love to hear some truth and real thoughts.

Cheers'
Paul

Are you 5 years old?

Do you read what you write? You ask crypto community to tell you for sure, based on actual knowledge that everything is going to be fine with crypto?Huh??

If you need somebody to hold you crypto hand during harsh times, I think you re definitely in the wrong industry and should stick with traditional banking.

So you can either grow some balls and patience, go through this red tide shit with the rest of us or you stay scared.

It s up to you. I AINT SELLING!

Yes I got balls thanks.. lol

Been in this for far too long to sell all I have, but I'm being totally honest that I'm shit scared. Are you not in the slightest?

Have been there and spent enough btc in the past years to be happy, but I wanna have the big bucks.. the big toys.. You know "living the dream" etc

Looking to sell the domain or business partners
- BTC Escrow business opportunity (http://www.btcescrow.com)
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February 05, 2018, 02:35:16 PM
 #23

Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?


Yes, they are. We are going down to $2500, perhaps to $1000. Some bears are saying we can be back to three digits.

The institutions are mauling it to the ground. Some users, to feel more confortable, are saying it will bounce back in some days, but it will not. I myself have hope it will recover before march and reach a ATH right there.

But I admit, its more hope than a rational understanding, because one fact is very clear here: big money have entered the market. Its not tether, because Ifinex probably already recovered whatever they had used to pump the price (its 2.3 billion against a 100 billion drop). Its not the chinese new year either, because crashes in other years were milder and shorter than this one.

Its simply... death. Thats what big finance did to gold and silver, and they are doing to cryptos right not. They are shaking it very hard, so that when they open the Nasdaq futures, they are in control of it. If you read the news, they are not sure yet if they will open futures in Nasdaq. I guess they will only open if they have dominance of the market.

The situation is scary, we can be close to zero in a matter of weeks, but the fundamentals are still there. Question is, should we sell now to buy back lower? Or are we close to the bottom? When it was 10k, people said it was the bottom. Then theres the user support at 8k. Now we are going to miner support at 5k, and after that, what will be?


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February 05, 2018, 03:01:14 PM
 #24

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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February 05, 2018, 03:08:00 PM
 #25


OK, I'll cut straight to it. I see all these people saying "Yeah it will be fine" and "it always bounces back".. etc etc..

But ARE these people just saying it with hope or actual knowledge?

Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?

As far as I knew from last week (or so the news went) Saudi Arabia was going to be highly involved in btc and I presumed the price would boom again. I love BTC and I love anything to do with crypto, but I'm truly scared and anyone that says they're not I think are either just trying to keep a straight/strong face, and are basically all as scared as me.. (well I hope they are, as this shit is getting serious).

I'd love to hear some truth and real thoughts.

Cheers'
Paul

It's ok to be scared about this deep dropped of bitcoin price mate, i think the majority of all bitcoin users are also scared on what's happening to its market value. But it's actually a normal scenario, bitcoin price is really has a high volatility that makes it so predictable. But this unique characteristic of bitcoin is one of the most important factor that attracts so many investors to invest with it, because of the possibility of making a huge profit from it. But it takes so much risk, that can be hard for those small time holders to take the risk because of lacking of capital.
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February 05, 2018, 03:12:51 PM
 #26

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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February 05, 2018, 03:17:24 PM
 #27

Nothing to be worried about, BTC is very vulnerable to issues. Bad things always happen and the cause is a negative issue from influential countries.
China and India this month banned crypto trade. this makes everyone panic.
Be patient and hold it until the storm ends.

India also bans their population from free use of gold, especially across borders.   Every country has a self interest in seeing their population do not have access to use of money which is not issued and centrally controlled by the party in political control of the country.   

These are not new factors or any failure in bitcoin itself.   The biggest effect right now is the retreat of speculators who had no interest in usage of bitcoin.    The largest ongoing effect internal to the protocol is the sensible handling of transactions at a fee that is cheaper then credit card use, at present bitcoin is not allowing people to use it without excess cost which discourages any growth.

Without growth we cannot expect price to rise.   Look out for greater segwit and lightning network and for fees to drop.


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Sitarow
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February 05, 2018, 03:29:00 PM
 #28

@ 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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February 05, 2018, 03:45:16 PM
 #29


OK, I'll cut straight to it. I see all these people saying "Yeah it will be fine" and "it always bounces back".. etc etc..

But ARE these people just saying it with hope or actual knowledge?

Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?

As far as I knew from last week (or so the news went) Saudi Arabia was going to be highly involved in btc and I presumed the price would boom again. I love BTC and I love anything to do with crypto, but I'm truly scared and anyone that says they're not I think are either just trying to keep a straight/strong face, and are basically all as scared as me.. (well I hope they are, as this shit is getting serious).

I'd love to hear some truth and real thoughts.

Cheers'
Paul


Because this has happened multiple times before.

Right now some great long term bull news is passing under the radar because in crypto bear markets all anyone cares about and the news that gets spread around the most is all the negative things. We've had several hacks recently including the largest in crypto history, you had the fizzle out of wall street bitcoin futures as people got all excited about it then it was kinda like yeah who cares its not a huge market when the futures markets actually started which was a kinda of buy the news sell the event situation, you had coinmarketcap excluding korean exchange prices from their tallies so one day it suddenly looked like crypto had dropped a bunch which caused a huge panic, you had fake news about korea banning crypto, you had people reacting negatively to the real news about korea highly regulating crypto, you had fake news about india banning crypto, real news about india wanting to highly regulate crypto, you had the bad news about bitcoin transaction fees skyrocketing in december and january and transactions taking forever, we just had a bunch of major credit card companies decide to no longer allow crypto purchases with their cards, we've had various people in the financial industry say awful things about crypto, and today's news that again made the market crash is China is completing their ban by blocking foreign exchanges so chinese citizens are completely shut out of the crypto trade, we also had news about some places like Steam not accepting bitcoin anymore.

Meanwhile quietly without making any effect on the market cuz right now people only care about the negative news, we've had a series of things showing the long term growth of crypto. Square started doing crypto buying and selling to select users and now they just opened it up instant crypto buys to everyone. Robinhood will start gradually opening up crypto investing to its users this month. Those are basically the first two competitors for coinbase. That's huge bullish long term news. LN is progressing and some people are even already using it on the bitcoin mainnet, though it probably won't really be ready for production until late this year I'd imagine. Blockchain.info, coinbase, and bitcoin core wallet are all working on implementing segwit and by summer segwit should be used for most bitcoin transactions, thus greatly alleviating the transaction problem for the short term. Coinbase also said it is working on batching their transactions which will also greatly allevaite scaling issues for the whole bitcoin network. Everyonce in a while you hear about new stores starting to accept bitcoin. Occasional good news about other Bitcoin upgrades making progress. Korea just said while they are strictly regulating crypto, within those regulations (to make sure things are done legally) they want crypto to flourish in their country. China with todays total ban will have less ability than ever to negatively affect crypto once this news passes in the next 24 hours.

Plus we're also back to where bitcoin was before the last boom in november and december. We could be right around the bottom of the market now. Might still be a few months of ups and downs as things as the trend reverses, but I'd say if you take a view for the whole of 2018 then by the second half of the year we'll probably be well past this bear market.

I write about bitcoin, crypto, money, and early retirement. Become a Medium member to read all my content:
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February 05, 2018, 03:53:44 PM
 #30

Theres over a million traders waiting for Robinhood to turn on crypto, these aren't just newbies. Expect a lot of buy orders to eat at the current sell wall, I am not sure if Robinhood will use its own exchange or how it will work with the flood of users it should expect.
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February 05, 2018, 03:58:25 PM
 #31

Here is a news article that covers the probable underlying cause of this drop.
Their price predictions are likely overly bearish but otherwise I found it interesting.

Bitcoin could fall below $5,000 if this report on a mysterious cryptotoken is right
https://qz.com/1196866/bitcoin-prices-could-be-40-lower-because-tether-propped-it-up/

That said I wired some money to my BTC exchange today. I am going to try and time the bottom of this one.


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February 05, 2018, 04:04:27 PM
 #32


OK, I'll cut straight to it. I see all these people saying "Yeah it will be fine" and "it always bounces back".. etc etc..

But ARE these people just saying it with hope or actual knowledge?

Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?

As far as I knew from last week (or so the news went) Saudi Arabia was going to be highly involved in btc and I presumed the price would boom again. I love BTC and I love anything to do with crypto, but I'm truly scared and anyone that says they're not I think are either just trying to keep a straight/strong face, and are basically all as scared as me.. (well I hope they are, as this shit is getting serious).

I'd love to hear some truth and real thoughts.

Cheers'
Paul

It's ok to be scared about this deep dropped of bitcoin price mate, i think the majority of all bitcoin users are also scared on what's happening to its market value. But it's actually a normal scenario, bitcoin price is really has a high volatility that makes it so predictable. But this unique characteristic of bitcoin is one of the most important factor that attracts so many investors to invest with it, because of the possibility of making a huge profit from it. But it takes so much risk, that can be hard for those small time holders to take the risk because of lacking of capital.

The main difference between this drop and the other drops we had before is that this time the world is watching.
The earlier drops years ago nearly nobody noticed. I did not notice. That makes me say that we have a new scenario, and we can not conclud form developements we have seen in the past to developements in the future.
When people say it will bounce back that is a hope which I share, but nothing more.
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February 06, 2018, 11:55:47 AM
 #33

In a nut shell... competition, country acceptance and power consumption.   
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