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RE: Bitcoin (BTC) Evening Update: A Directional Resolution is Needed
Epic. The MAC can go down some more but I'm watching for it to level out... I think we'l be done with correction as the month is nearing its end. The same is true for many other coins
you mean it will last 2 weeks this correction?
Recent bear market lasted over a year. This may not turn around anytime soon!
No, we're all confined to Bitcoin hell forever !
We'll wait and watch till we have lost a third of our money, then withdraw and never come back, so that a) the rate stays low and we can b) tell everybody how we were led by the nose plus c) claim we were right from the beginning !
There's no way out of this without vodka ;))
Jamie Dimon said "The chickens who invest in Bitcoin will pay the price!"
He meant, the price needed to make it smooth going for Morgan Stanley.
So we oblige him of course, it's not that we didn't know that small folk are supposed to do their superior's bidding.
At least if you are correct, fees and transaction times should come down!
For what, Bitcoin ?
Well... I don't know anyone who cares about transaction fees for Bitcoin - when I hold Bitcoin, I hold it at an exchange, I never use it for transactions. If I would hold it for longer, I'd transfer it to a wallet but I haven't seen the need for that these last weeks, I went between alts and fiat and Bitcoin, and whenever I sent funds elsewhere, I used ETH. I honestly dont know anyone who uses Btcoin for transactions, so why would their price be such a decisive factor. Bitcoin is for investment only these days.
It was a joke!
But there is no way I would hold btc on an exchange. Mt gox and several others should demonstrate that’s an easy way to lose the lot. Especially given the crash! Let’s see who survives!!
Well, bitshares should be safe.
No, you sounded so serious ;))
I mostly use Bitcoin to buy other coins at the exchanges... I had some in my wallet till mid December, but sending them really is inconvenient... lets face it, Bitcoin at this time isn't the asset of choice. What it mostly does is bring down the rest with it... well you have to have SOMETHING at an exchange, can't be helped.
Safest is of course not to trade - maybe thats the reason hodlers ar hodlers...
I agree btc is not easily usable at present. But as an asset it’s fine. And all crypto markets are heavily correlated because investment is based on speculation. People are not buying based on the merits of the individual coin. They buy because they think it will go up! So when btc drops people (rightly) believe their coin will also drop. This will continue until people invest in coins based on their individual merits!
BTC prediction:
Bitcoin correction is just starting on monthly. At 11,8k now but I expect to see 5k before trend reversing back to bullish after accumulation.
E:Hoping to be wrong. Bitcoin is in totally different place now as it has been in earlier but we have been going up for a long time. Bear market is as natural as Bullish. If you just plan to hold, cost averaging is a good plan. No need to check the charts, just buy some every now and then.
I can see how you're the leading authority about everything on this network, so I guess that means bitcoin is out of business for many months now.
Till after "accumulation," of course. What do you say, should we all invest in Bitcoin Cash, because of the marvellous technology it offers, and its great future ?
Quite defensive reply. Top is clearly in. Just pulling your leg.
I'm not leading authority, just a dude pulling predictions out of a hat like haejin, or you, or anyone else. I haven't looked what the charts look for Bitcoin cash so you need to ask Haejin for guidance here.
Don't get me wrong, I hope BTC isn't in for a long bear market. But judging by its past history, what goes up, comes down as well and in crypto the coming down can be brutal hence the "bitcoin is dead" shouts.
Gotcha.
What you need to understand is that humanity is a bubble, "the economy" is us turning the environment into trash and selling the resulting gadgets to itself for intra-species amusement.
This just as a general explanation about what's going on in the "market" - the crypto market is an ideal example for this, people selling each other ideas and as long as they believe in them... believe in Islam and you'll happily go to paradise, for what it's worth.
Believe in Bitcoin, and Bitcoin will rise.
But there's lots of utter amateurs in crypto now, some on borrowed money - they are extremely paranoid and many are probably unable to wrap their minds around what's actually going on...
Though folks like @haejin will deny it, that is a decisive factor, it's THE factor - and the highly deliberate, almost reliable China FUD, the BCH action by The VersTM and talk like yours here are having a destructve influence on the morals of these people, this is why I'm critical towards the attitude, Elliott Waves and the rest of TA or not.
Because all prophecies are sorta self-fullfilling.
This is very satisfying for the doomsayers, as they can point at the results, saying : "See ? I was right "
But I have a solution, and it's really simple - all we need do is kill the batsperson...
So you're trying to hype the prices up? And trying to educate me? Wow. I've been there and I rather not live in that "bubble". Saw what it was pretty fast.
This kind of behavior will just end up making the people you wish to "protect" to lose money. No matter how many times you utter "up up and up", it doesn't matter. People can see the charts and will act accordingly. Joe with 20 dollars doesn't matter much in grand scheme. Smart money does. No amount of chanting together will change their opinion, as they don't care about what hope you're trying to sell to newcomers.
They will make money the same shorting as longing.
When even the mention of possible bear market is hissed at, you can tell what's up.
But to make it all right, btc to moon! Just repeat after me and it'll work.
No reason to get all excited ;)
You can't force a great portion of people to think for themselves, so either way you tell it, you will end up influencing them.
In this case, seeing things in a positive manner will actually help everybody profit, except those who have a bearish stance for a well-defined but rarely openly-displayed reason...
Because the ones you fear might be losing money will not do so as long as the rates go up. You may have watched that after haejin videos about Bitshares and the likes - I appreciate your way of Icarus-oriented reasoning but in a theater like the current one, no non-Cassandric harm is actually being done.
I'm only sharing my view on the markets, that's all. I'm not trying to herd anybody here or guide them to tag along. The sooner these newcomers learn to not follow others blindly, they will do better here and in life. And if they are using Steem, I want them to do well in both.
So for those who don't know what they are doing, no need to panic just hold. If you believe in the projects you have bought that should come easy. Crypto hasn't entered mainstream yet and you want to hold some when that day comes. Swings now will look like miniscule looking back then.
Corrections are healthy and I welcome them.
Since this is a place for trade talk: Where do you see support for btc in the weekly timeframe? I could see the next support being at 8k. So bounce there back to 10k or even 12k and people will be cheering but it will be just lower highs and the bear market will continue. In the end 5k looks like inevitable for me but I'm a pessimist. What do you think personally? It will be interesting to see how this plays out, that's why I'm commenting here. To come back and look is there any point for TA.
I like your way of thinking, really, but huuuge amount of money are coming from standard finance, even JP Morgan want put money in, and BTC is first mover (and will upgrade). They want buy cheap so they pump hard and dump slowly to induce huuuge dips. Just my opinion. Hope you are right for the end of the month, my alts are going down/correcting and I hope to see them go up as soon as possible.
" (and will upgrade). "
What makes you believe this fantasy? Blockstream is on the record as seeing $100 fees as a good thing, because it will drive people to use their off-chain (read: scam, centralized) solutions to make them more money.
Educate yourself before putting your foot in your mouth.
I'd rather have them go as low as possible before the upswing. Just keep adding coins that are promising.
I had been hoping for $8000 myself around Christmas when Mike Novogratz said "no investments before the holidays as 8k is a possibility" - but his wish did not come true, that was a month ago.
By now this shit is just being destructive and we're playing into the institution's hands.
I mean really, get a grip. Self-fulfilling prophecies. The institutions don't need big investments to keep the markets upset, a bit of FUD every day is doing their divide-and-rule job nicely. I've been in ads and PR for years.
The Russians did it. How hard can it be ?
BCH seems to form some sort of triangle, so bullish I guess ...
Almost everything is in triangles, all is bullish - it's just the prices that are going down. Who cares about a little detail like that ;))