It’s all good news for Bitcoin next week. HODL on!

in bitcoin •  8 months ago

It's all good man.png

Hello my fellow Steemians and Crypto investors,

This week Bitcoin has been on a struggle to go over or maintain 11k. Just yesterday we saw a correction that bottomed at about $10,200 and it’s now ranging between 10K and 11K. Another, possibly bearish, mini crash could even take it below 10K this week.

However, on the background, positive news are brewing for next week that can quickly reverse this minor correction and continue the general bullish trend. Coinbase and Bitfinex have both announced their readiness to implement Segwit. Bitfinex is already rolling it out and Coinbase will start by mid-next week. Bitcoin fees are already very low, so this will make them even cheaper soon.


Segwit.png
Segwit transactions continue steadily increasing on the Bitcoin network, even without Coinbase and Bitfinex officially adopting it yet

Also, brewing in the background is Lightning Network. It already has over 800 running nodes and counting on its mainnet implantation, which is a little crazy, considering it’s still in its testing phase.


LightningNetwork.png
800 nodes and counting running Lightning Network on mainnet

So far, we haven’t heard of any major screw ups, except for a few bugs here and there that developers are working on. This is very encouraging for a nascent network of such proportions. The longer the Lightning Network simply exists, the more valuable it becomes, just like Bitcoin, Ethereum and other Crypto platforms that age well like that :)

Conclusion:

Even though we are experiencing a bit of a rough correction right now, barring any unforeseen black swan events, we should continue on the general bullish trend next week. Don't be foolish and panic sell on small corrections like these. Always wait for strong confirmation on the trends.

Speaking of HODLing, I leave with this super funny viral video which I found thanks to fellow Steemian and Crypto Investor @Chesatoshi Thanks man!



Original post by @Chesatoshi: https://steemit.com/cryptocurrency/@chesatochi/great-hodler-video

Keep on HODLing my fellow Spartans! Regards a tous!

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Tell me what you think of this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!

Follow me for updates news and commentary on "sane" crypto investing.

Happy crypto investing!

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I find it a little interesting that the sell-off began as soon as the news about Bitfinex's bank account @ ING came out.

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Do you think this could turn into a black swan? Do share links to info with news about this. Best regards!

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Here is one of the articles: https://www.reuters.com/article/us-crypto-currencies-bitfinex/ing-says-cryptocurrency-exchange-bitfinex-has-an-account-with-it-idUSKCN1G42MU

I find the last paragraph in that article to be hinting at more complications for Bitfinex. The Tether drama is still weighing on the market and any news regarding Bitfinex and Tether usually causes a sell-off.

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It's too early to tell if this will actually bring any real regulation or how long it would take. Markets are jittery like this though so it could be contributing to the current correction in prices.

Finally a good news.
I am dying to see bitcoin going up because I have been holding some and I have to buy laptop for me.So when it goes up then only I can buy otherwise it won't be a good move for me.
I have so many hopes from lightining technology because otherwise that, bitcoin's survival wouldn't be possibel.

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buy litecoin it have to increase 1000$ in 2018

THIS IS WHERE WE HODL THEM
THIS IS WHERE WE CRUSH THEM
THIS IS WHERE WE PROVE WE ARE REAL STEEMIANS
THIS IS WHERE WE WIN.
THIS IS WHERE WE WIN.
GOOD MOTIVATION
Keep on steemin'

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Haha, It's all Good Man! This is Sparta!

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i hope in the HODL!!!! i hope it is a mini crash i was just getting back in the black!

That video was awesome!! That's how intense owning Bitcoin really is!! Great post and thanks for the laugh!! :-)

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yes, awesome

This sort of scenes is what I always picture in my mind when looking at the armies of buy and sell walls battling each other in real time, that 300 video was awesome, glad to see I'm not the only one with these imaginations!

To me both pictures below look identical...

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I see exactly the same thing! Haha, epic times indeed!

I can't wait for the next run past 20K!!

I believe bitcoin will hit $20,000 by summer even though it will be volatile and then $50,000 by the end of the year

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I'm with you on this. Seems like this dip is hanging on a little longer. I just can't see this downward/sideways trend continue much longer.

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There is a huge psychological barrier between the 17-20k mark. In order for it to reach 50k people will have to not sell off most of their BTC when it reaches that mark and also buy in DESPITE what happened just a few months ago. Consider all the people who currently regret not selling their BTC back in December who could have retired on their initial BTC investment? On top of that, the people who bought in at or near the ATH thinking it was mooning to 30K and beyond and will sell as soon as they can recoup their investment and thank their lucky stars they didn't go bankrupt. Id expect a major dip if it hits 17-20k in my opinion, maybe even a panic sell that drops it by as much as 10k in as little as a couple days. At the 15k mark I would expect a ton of volatility and it will begin to clean out some of the weaker hands.

Also remember some mysterious entity bought 400m worth of BTC when it was at 10k, if it hits 15k and they sell between 15-17k, they are set to make 250m on a 400m investment in as little as a few months. This is assuming they are not a long term holder of course. We have no clue what their intentions are but with that kind of buying/selling power, they could easily be manipulating the market and basically just doing a pump/dump of BTC.

Im only approaching this from a psychological perspective though. Im not a professional trader, this is just something to watch out for as BTC prices go up and we near these price points.

It's at the bottom end of the channel, if it bounces from here, all is good. If not we may be in for a lower low. But in the scheme of things, none of it matters in the long run. The future is bright and lucrative!

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There could always be black swans along the way but the Honeybadger of money don't care hehe. He's going for the moon

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Hope so, people that bought coins (esp alt coins) when BTC was at $14k+ are deep in the RED for 2-3 months now...probably the first time in history that you could buy coins and 3 months later be down (instead of being up 300%+ for example), so a fundamental change has happened due to the mainstream exposure and flood of new investors.

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All coin will bounce back, this is our generation's revolution. This cannot be stopped, it will not break, it will take awhile to grab a hold, but once it does, the world is going to change. And as with all revolutions it starts small and then it explodes into something that changes the way we look at the world.

Hi @thecryptoeagle, thanks for updating everyone with this news. I work full time in the industry, and I know that it has been a rough start for cryptos in 2018, with a few good patches in between.

I think that regardless of the rough start, there is positive news coming for the market in 2018. It should be really interesting to see how the lightning network improves the network as a whole once it is out of testing phase.

I'm currently reading up on a technology that may solve every single scaling issue that blockchain has.. I'll be posting about it in a week or two so keep an eye out if you're interested in scalability!

Hello @thecryptoeagle,

Thanks for the update. I am waiting for the dip this weekend to take my position :)

amazing update news share you man.Thank you so much.

well i am really waitinf for a good news ...

Alrighty @cryptoeagle I fuckin love your enthusiasm. Lets HODL them together!

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Frankly Bitcoin is risky business and it goes so high because of zero interest rate, printing money etc... when they will stop doing this BTC go down... but when not... i agree that it can go to sky :D

Thank you for collaborating with me to promote this post as explained at https://steemit.com/steemit/@jerrybanfield/10-ways-to-fund-a-steem-growth-project.

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Thanks you Jerry for boosting the up and coming Steemians! regards

BTC is bit confusing for me I always get on nerve the fall down and can't have more courage to HODL BTC but you are right that we should hold it for the best result in the future. We all have faith that it will go moon soon.
Let's see what happens in the next week. The video is amazing to watch :)

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Just buy, stuff it in a hardware wallet where you can't get to it too easily and stop following the news. Check in a few months later!

i love that someone else uses the 300 quotes. i LOVE them. they are so fitting. I think bitcoin is going to do great things this year, i think it will pick up when people get tax returns back but then i think it will table top for a while or even fall since a lot of credit card companies are not letting poeple invest in crypto with them now. this will take a lot of "possible buys" out of the market. I am also very interested in how etherium is starting to do its own thing here lately, it is not such a close mirror of bitcoin recently. It took quite a drop days ahead of bitcoins start down.

Once you have read the BTC whitepaper and fully understood the power behind the technology, you will stick to hodling and feel at ease every time the market corrects.

You got a 7.58% upvote from @postpromoter courtesy of @cryptoeagle!

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Thank you for sharing this. The Sal on main image is a good touch! ;P

I completely agree on panic selling, many people lost alot of money doing that. I believe that patience is the key if the investment was proper.

Keep up the good work, i appreciate it alot.

Kind regards,
Anna, @arhitekt

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Thanks so much Anna! Regards

You got a 10.04% upvote from @buildawhale courtesy of @cryptoeagle!
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Totally aroused seeing haw Lightning will completely shuffle the whole market!

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("how")

I agree with you @cryptoeagle, Bitcoin is correcting now and should hold the 10K level if not then a it will be bearish again. Bitcoin stay between above 10K to maintain its bullishness and momentum. Or this could be a prep for Bitcoin for another run.

Thanks for the update on the Bitcoin's movement next week.

Really hope it will continue to rise after the slight hiccup! @cryptoeagle

I think there will be a bounce somewhere between 9900 and 10100. Then we will continue the general uptrend we have been on. Though, even with the best TA, you are just casting a net in a full moon instead of a new moon in Crypto...haha.

This post has received a 25.4 % upvote from @boomerang thanks to: @cryptoeagle

this is hardly a correction if you compare this with the one prior...
but it is what it is.

What are your views on sbd it is showing a good resistance at $5 level

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It follows BTC very closely, good news for BTC is good news for all crypto

I have a couple of thoughts in why Bitcoin is down today:

  • Trader Profit Taking
  • Weak hands breaking even
  • Selling for fiat to pay taxes
  • sell the news (SegWit)
  • Technical
    I’m trying put some detail together to also make a post.

hello friend I'm new here, finally good news is really nice to know that the bitcoin is increasing so you have to be prepared to get the most out of what comes that day. regards @crytoeagle

breathing text 2.jpg

I found the correction to be almost a perfect Fibonacci retracement of 61.8%. After all the FOMOing around Christmas and the New Year, honestly, it was needed. Now the nice steady churn up to a TRILLION DOLLAH can be STEEM-witnessed and appreciated!

wait a min, I was taught to buy the hype and sell the news ... why are we all selling on this hype? are we buying on the news new week? /s

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Neither buying nor selling, HODLing!

Agreed, I think once we finally move past the 13k level, we can say we have a breakout. We had the start of a false breakout when BTC was flirting with 12k. My thoughts!

Hope your Words come true @cryptoeagle
and what about other cryptos, Especially Steem?

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Steem follows Bitcoin closely, any good news about Bitcoin is good for Steem so we'll see how next week turns out. So far the general bullish trend is intact.

Oh thank God my prayers are coming to reality.

great news update..
thank's for the news to share..

love it

Who else would like to see this dip season end?

In the past people got rich investing in crypto, now just holding for months trying to break even...it's all luck and timing.

If you are a bitcoin Trader, you should be a good hodler, Bitcoin Gonna break all previous record but you will have to wait some time.

when we though bitcoin is not longer will be our first choice in the end of days we see is the best

it hurts because i have released my btc

Amazing news sir... 😍 thanks for sharing sir...✌

Its very useful post dear@cryptoeagle

This post very nice.,,i appreciate your blog..thanks for sharing this post
Nice post keep it up sir

That's really good news..
Hodl like the Spartans..
Hilarious video

great post..thanks for sharing..i follow you @cryptoeagle

thanks for the information...

Thanks a lot for discussion about bitcoin...Keep it up..

this great post I appreciate your crytocrrency news thanks for sharing.. best of luck.. resteemit..

valuable post for us. good news.
Thanks for your helpful post.

Bitcoin is KING!

Ok sir. As we hold it in crises. Then this is time to enjoy with profit.

Really Good News.......
Thanks a lot for sharing....
Keep it up bro.........

Oh this is really a great news... All the crypto investors can now be stressfree.

The year 2018 will definitely have a lot of surprises in the crypto world for us ! I think now is the best time for everyone to get in

Your posts are very interesting......bitcoin one of the most famous coin.......i like bitcoin....

wow very nice excellent steemit post

Wonderful update news man....Thank you so much...

Great news update. thanks for the sharing news.

wow bitcoin i like your post. i wait for your next post carry @bijoy123

I know a person who is trading in bitcoin From a while, he told us that at the end of feb or in the start of march bitcoin will go below 10k again, but then i'll start rising.

Thanks for the information sir.

well going sir keep it up the regularity of your information is superb actually its helpfull

I have so many hopes from lightining technology because otherwise that, bitcoin's survival wouldn't be possibel.

thanks for updating everyone with this news.

@cryptoeagle i wish whatever i am reading here goes exactly the same