When will the cryptocurrency market recover?
I know this is the question on everyone's mind right now, so I decided, why not have an open discussion about it.
When do you believe the market will recover, and why do you believe it will?
What will cause the market to come roaring back like it did in fourth quarter 2017, or is it just a fourth quarter thing, and we'll all just have to wait?
What do you think will become of Bitcoin once all the huge exchanges adopt fiat parings, will it still be as strong as it once was?
I know, I know, I'm just full of questions today... but I am after-all a very curious fellow.
it's hard to say. usually, there are periods where you have no chance of predicting what the market will do (what's happening now) and other times it's flatlining and predictable. I think the market will recover at summer time (as in not be a rollercoaster) as that's what I remember it doing the last few years.
just my opinion.
This will be my first full year, so I am only learning, but I have gone over the historical charts a few times, so I could see this happening as well.
it is so hard to even try to predict. we could have major news that results in a total market crash (i think this happened in 2015) or we could get a ton of news that is good for us and the price skyrocket. we could also just stay stable with small fluctuations etc.
Either way, it should be fun to watch... so I'm excited!
true that.
It's hard to say how the market will swing and when the sentiment will change. In fact, it may have already changed,Bitcoin's market cap was $37 billion less than it is now. But perhaps investors shouldn't be worried about short-term price fluctuations and instead focus on the technology.
That is true, but we can already tell that the price has nothing to do with the technology, because now all the big boys are implementing SegWit, and Lightning is just around the corner.
I think it's will take like 3-4 weeks as right now there are a lot of short term traders who looking for fast profit
in 3-4 weeks time the market will be much higher and more stable
Yeah, everyone keeps saying second quarter for some reason, but is there a viable explanation for that?
ETH seems to have 20 to 25 days between bottoms (daily chart). I’m using EH since BTC has been more erratic. But even with BTC, I would not be surprised if we reach a new low in 5 to 15 days.
I will look for 2 things to start buying: 1- completion of last leg of the Elliot wave ( C ). 2 – as a confirmation, a sushi roll reversal confirmation (a simple engulfing pattern using 10 da1ly candles instead of 2)
Ha ha, was all that jargon real, or were you just fucking with me? 😀
Sounds totally stupid, but it’s for real.
Ha ha, just wanted to make sure you weren't fucking with me. 😀
I did a post on the sushi roll
https://steemit.com/cryptocurrency/@appone/sushi-roll
Great... now I'm hungry. 😀
Never any viable explanation here cos it always changeable @tolkatore
True, but there's gotta be some reasoning...
Ya obviously @tolkatore
I cannot imagine that this current sideways movement could last any longer than a month. I assume that by April there will be significant growth by both Bitcoin and altcoins. Thanks for the post!
I hope so too, but do believe Bitcoin will be as strong, even with most exchanges adopting fiat pairings?
The fiat pairings, if and when they come, could still be limited to a couple of majors. BTC and ETH will still be the points of access for most alts.
What would prevent the exchanges from going full fiat paring, I mean it would make sense, plus they would pull customers away from on-ramps such as Coinbase and Gemini?
The same reason they have not done that yet. Once they handle fiat, regardless of what country they are in, they will need banking type licenses and have to comply with much more regulation. The big ones will get there, but may take some time.
The word on the street is that a lot of the big ones are not even operating on the correct license, and that in order to conform to regulations, they will have to file for the same license as other online trading platforms such as E*Trade.
Exactly, and they are making $ billions. What are the incentives?
Do you think even the old world boys will get in on the action, like E*Trade trading Bitcoin and others?
It is so hard to make any prediction. I have no idea when the market will make a big comeback but i'm pretty sure we will see a good year for crypto with a lot of ATH. But it's probably going to happen like in 2017, towards the end.
Yeah, that's what I figured too, but for now, my strategy has changed.
I am now using a healthy combination of dollar cost averaging, and stop-loss technology.
With movements of over 30% possible in one day, aren’t stop-loss points just traps? Are you doing trailing stops?
Well, I should have explained more, I am not a trader, so if my stop is hit, I stay out until things begin to make sense. I an't going to pull my hair out every night, trying to chase prices... that shits for the birds.
I agree, since you are in for a longer term, no need to worry about short term movements, but why even have stops?
Well say Bitcoin goes to $12,000, and then back to $6,000, I would get back in at around $6,000. I sell out of, and buy in on massive dips... to lose out on that much money would just drive me mad.
Sounds good, but can you time so nicely?
Not too difficult to time, but it does bump up quick once it hits a new big low.
@tolkatore Hi what do you think about cashme?
It had some massive gains in the last 7 days.
Gains to me don't mean anything short-term, it's long-term value that I look for mate.
Hmm... You may not think that's a very long time, but given how fast the cryptocoin market moves, this is not some temporary flash crash. It's a hefty correction that threatens to turn into a bear market, akin to Bitcoin's slump in Jan. 2014, when price went down for about a year before they started rising again. So wait for that moment when the cryptocurrency market recover. @tolkatore
I don't know, with all the competition around these days, do you think Bitcoin could really afford to slump around for a year?
Actually i'm confused but hopefully it will start rising maybe not confirm in cryptocurrency @tolkatore
A 70% “correction” is a complete trend reversal and hence a gear market. In cryptos things move fast so a new change in trend could be happening soon. The way I see the BTC and ETC charts, the last down leg of the Elliot wave pattern is now underway.
Once this is complete, the trend will reverse.
What do you mean reverse... to the downside or upside?
We are still in the downtrend started January 14. The wave C (which is where we are now) should be the last down movement and then a reversal to the upside would start.
Ahh, you're getting me excited bud... and thanks!
Get that cash ready, we're goinna have some fun soon
Working on it at the moment, and truth be told, I've been noticing that Monero is a good coin to use as a safe holder... your thoughts?
I like it. There isn’t a lot of buzz around it. In the “privacy coin” world, where there are a ridiculous number of players, it seems to stand out among the top 3. (Dash and Zcash possibly the other two)
More and more states welcoming the cryptos like Georgia, Arizona ,tel Aviv,Wyoming,looks future bright for the crypto currency to me.
Can't predict the right moment but hopeful of future economics will rule by crypto currency only.
Yeah, adoption is key for sure, and let's hope more and more follow suit.
Positive, smaller jurisdictional legislation is paving the way. If a bunch of states put out laws which are pro crypto assets, it will be harder for Federal laws and agencies to rewrite everything later. One can hope that they will wait and see how things play out and then follow.
In reality, cryptocurrencies would bring in more money for not only the states, but also the government as a whole, so I don't see why not.
Mainly because banks control the politicians and banks are threatened by cryptos. How many times does the government do what makes sense vs what seems stupid but it turns out to be agenda driven?
All politics are agenda driven sadly.
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Nope... I think I'll pass.
Forgive him for he knows not what he does.
Oh... he knows. 😉
He he he..... :D
Bitcoin still remains the largest cryptocurrency, with a market capitalization of around $137 billion dollars. This means that it still has a large amount of control on the prices of most other cryptocurrencies.The past few months have seen a large amount of bullish investors come into the market in an attempt to make a large profit off of the high amount of returns that have been characteristic with cryptocurrencies.I think market will recover soon...Thanks for info about referral link click scam info.One of my friend face this problem 😞