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Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。
When it comes to investing advice it's always on individual preferences or decision as long as they know the risk and they know the market condition if your friend wants to buy because they believe that it's a good time to buy and he is investing what he can afford to lose, then let him proceed, in my experience, I always tell my friend to read a lot and fill themselves with the relevant informant that will help them to buy and sell at the right time.
The issue is that whether you want it or not you will feel good for him when the coin goes up, but the opposite is also true and you feel bad for him and somehow guilty when the coin goes significantly down. I have always refrained from giving a clear recommendation to buy and I did well with it. You can still phrase a recommendation in a way such that you don't really tell him to buy, but wouldn't tell him not to buy might be a better way to put it.
Usually, good friendships are above a recommendation even if it goes wrong because both parties knew that it could happen, but some will be mad at you certainly.
Exactly that is what is happening right now. The market is on the rise at a high pace. People who see this don't want to miss the opportunity of investing into cryptocurrencies and making a good profit. They are just FOMOing now. And FOMO is not a very good thing. It can make someone lose a lot of money in some situations. People should be aware of this before making an investment. Panic-buying is not your friend.
Where exactly do you see the high pace you are talking about? It just turned decently positive. That is what I would call it when you consider it from crypto's history and what pace we have seen before. There were days where the whole market jumped over 25% and that is what I call high pace. For individual coins it was much harder sometimes, they did several double ups in a day.
Problem face by every trader and bounty participants with gas fee because many project delay distribution when gas price up, I think good moving if any coin have both network between erc20 and bsc20 so trader or bounty participant have good choose when trading or investing. Right now many coin have both network BSC or ERC and we can choose which one is worth for investing and deposit coin.
Agree, some of my tokens also trapped on the wallet since i cant move it because the fees will just hurt me so much because the amount of the tokens is not so much.
The only option we have is just wait until the gas reduced to be rational amount.
But in a best case scenario that is going to happen fast or otherwise these tokens are also dying down in value probably. Then again we know that it will take quite some time until Ethereum plans to further improve its scalability. It is definitely a mess with the gas fees. Time and time again I check what the transaction would cost me and it is just not possible to perform it.
But i have no option since i have no ethereum left on my wallet, i should deposit it from exchange which already hurt me a lot, then fee for swap it on Dex after that i need to send back the Ethereum to the exchange. I dont think i have Ethereum left after such that activities
Oh yes bro, I hear you...
The withdrawal, the swap, the moving of the tokens, selling them, withdraw again to an exchange where you can cash out. That turns $100 into $10 at best right now!
A while ago I had some Ethereum stuck on Forkdelta because it was still deposited in a smart contract. My god I can tell you that was such a sweat to get it out. It wasn't that much, but you wouldn't want to leave it either. Then Forkdelta produced an error all the time until someone explained how to withdraw from the control command within MyEtherWallet. That was helpful, but still expensive. You first need to send ETH to the address, then use that ETH to perform the withdrawal of the smart contract, and then send it again to wherever you want to send it.
Bitcoin back above $50K once again. I would have stuck with BTC, but i only regret that it's a little bit. It's king and all eyes were on $50K. Indeed, this is just the beginning of a huge breakout. Let's hope it keeps pumping and pumping. Better to fill your bags and lets hit the moon together. Let's stop $64K
And back down again... It is not really the powerful push yet that we are looking for. Maybe the news about institutional investors signing up for ETFs or something that I read might help. But it is still not the real momentum that it sometimes has and it also doesn't feel like that.
I think that the way bak to the former all time high will be a bit more cumbersome. Everybody is cautious and doesn't really know, huge news are also not available.
Re: How to identify high-quality projects in the primary market?
The team members also if possible have identification and they have some way to be reached out to like emails or a LinkedIn profile, most anonymous projects ends up being a rug pull that dupes investors. In terms of investment, they shouldn't ask too big for their investors in my opinion because if it's a legitimate project, they can start small and slowly build up while the funding also goes up.
This is right, teams should have faces because in an anonymous space, you don't want to trust your money on people that doesn't have any faces, you won't be getting anything out of them especially if they started running away from the project. I have seen this kind of projects and they almost always end up in a scam.So far what I've learned, it's very difficult to find a really quality project. but there is 1 thing I think about, is where the project is advertised. because the place to market the product is very important, not only on bitcointalk but more on crypto related websites such as ico rating or coinmarketcap and others. the reason is if a developer dares to put an ad on the site is that they really want to make a big project and have the capital to start a project.
It's just a part of it in my opinion, being advertised doesn't mean it's a quality project. Remember thatscam projects can be advertised too so you better understand and evaluate what you're saying because it might lead you to the wrong path.I checked out one project with six team members and not a single linkedin link on the profile pictures worked. I reached out to them and asked what's wrong, so they added two functioning links and removed some of the links of the other profiles. Then I asked whether i could speak in the telegram group to the CTO, just a single question. Or whether they could do an AMA on Youtube. That is like 6 weeks ago and they haven't done it, yet of course claim to be the next big thing. But that happens all the time with projects, on a very frequent basis.
Re: Cryptocurrency: The Future of Finance in a New World Order?
In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
It is actually that with the trend of things that the world is moving towards the point of financial digitisation. Eventually, we'll get to that point when money would no longer be physical and we would no longer need the banks.
However, you should know that this will not happen anytime soon. Bitcoin and cryptocurrencies at large still have a long way to go in making this happen. We still have to deal with the problem of total adoption in the mainstream world and the problem of high translation fees before this can be effective.
You will definitely need banks because they are not only acting as financial intermediaries but also as law enforcement and regulatory intermediaries. The governments want banks even in times of digital money to collect data about transactions and the people involved in order to have a reasonable chance to fight money laundering and tax evasion. Without banks there would be no single institution as of now that could be able to handle the financial traffic of a country with both domestic and foreign transactions.
Re: Cryptocurrency: The Future of Finance in a New World Order?
In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
looks strange indeed if we look at the situation today . Like the impossible. But this could be something that could happen in the future . Needs force everyone to understand technology and the internet. So I don't think anything is impossible in the future. Depends on whether humans are able to develop this much deeperAnd crypto will be a good replacement for the old financial system because it's making the whole system more convenient and eventually more secured compared to our present system wherein transparency is not being seen and i think the government officials are even liking it for their own interest. Sad but it's really happening.
I think the governments right now are a bit desperate about how to move forward with their digital currencies. If they launch those currencies and force people to use them, it also means that if banks charge negative interests or fees, you don't even have a choice but watch your money shrinking because you can't pick it up and put it in a safe at home.
At that point they know they will see a wave of fiat money going into deflationary crypto currencies in particular. What are they going to do then? Everyone would start looking for alternatives, even those who were so far not interested in cryptocurrencies. They face a dilemma right now.
Re: How to identify high-quality projects in the primary market?
How to identify high-quality projects in the primary market?
1. The team background of the project,.whether the founding team members have other technical or operational backgrounds related to the blockchain icon project. You can learn about it through official white papers, official websites, communities, and other channels.
2. The investment institution of the project is extremely important. A good project seed will attract the participation of well-known institutions in the circle.
3. The technological innovation of the project, or a simple analogy of similar application projects.
Your description of Knowing and identifying high quality projects is adjustable and more work input need to be done before one can determine a genuine project without becoming crumbled at the early or media stage. In this recent time that scammers and money hungers are all over the crypto market looking for money by doing numerous things to scam investors of there valuable funds just to accumulate funds which can be used to further more scam projects exposing more investors with vast victims. 1. The team background of the project,.whether the founding team members have other technical or operational backgrounds related to the blockchain icon project. You can learn about it through official white papers, official websites, communities, and other channels.
2. The investment institution of the project is extremely important. A good project seed will attract the participation of well-known institutions in the circle.
3. The technological innovation of the project, or a simple analogy of similar application projects.
I think one of the major issues is that it is often too easy to hide for scammers. I like it when they give live AMAs, speak at conferences and obviously have a serious team shown with profile pics. You can often tell from the (missing) profile pics alone when that is a scam or not. They use so bad google pic copies of some people that it should be embarrassing for anyone to put money into these scams. Big conventions and conferences is a good sign that the team is at least serious about building something. Whether they succeed or not in the end... The statistics show that usually they fail.
With the increase in the financial volume of a currency, we no longer see severe pumps and dumps in the price chart of a currency, but there are reasons that this is not the case with Bitcoin, despite the fact that the financial and trading volume of Bitcoin has increased significantly compared to previous years. What do you think is the reason for this?
We see pumps and dumps all the time. We just went from 29k to 47k in a couple of days. How is that not a severe change in price? I think you need to look at the price charts again because it is still very common for severe price drops and rises to happen. I think people still look at digital currency as a tool of entertainment or a joke, and that's what happens. Ilan Mask's tweets can be ridiculously considered a fundamental factor, or a conflict between a financial institution and a developer of a currency can cause a lot of changes in the price of that currency.
In short, we can not see a change in the situation until the general public changes its attitude towards digital currency and looks at it more seriously and professionally.
Why will it be considered a joke? Elon Musk news is old and he has recently said he supports Bitcoin. Bitcoin is a currency and I do not know any one who thinks it is a joke even those people who dislike it. They know that serious money can be made from investing but they think it is to risky not a joke. In short, we can not see a change in the situation until the general public changes its attitude towards digital currency and looks at it more seriously and professionally.
I would even say that the stock market itself is sometimes a pump and dump market. You mention Elon Musk and pick the 6 months chart, it jumps up and down between $750 and $550 like mad. Keep also in mind that Elon Musk does not have any specific interest in making people crazy about Bitcoin. He even twitters about his own companies. He said in a video or live stream that he thinks the Tesla shares are too expensive or that he has a consortium buying Tesla shares out for a certain price and it wasn't true. Which CEO would do that? The guy is just insane from time to time and I think that's it.
Bitcoin breaking the $60,000 level will cause a major rally in cryptocurrencies. Therefore, the cryptocurrency market has great potential to rise from here.
As of now, bitcoin is trying to move towards $50,000. This is the major resistance as well as the weekly resistance area. Thus, if bitcoin breaks the $50,000 mark and makes a sharp bearish move, the next target will be $53,000 and $56,000 area.
As of now, bitcoin is trying to move towards $50,000. This is the major resistance as well as the weekly resistance area. Thus, if bitcoin breaks the $50,000 mark and makes a sharp bearish move, the next target will be $53,000 and $56,000 area.
Yeah, I'm expecting once ATH is revisited, we'll see everything that's NOT Bitcoin press high, fast and furious, ETH probably leading that charge and then all those *cough*defiscam*cough alternatives. And when that winds down, Bitcoin will begin its move up in earnest, once more carrying alts on its back. Before that, though, the first sign of exhaustion from revisiting the peak and yeah, we'll be checking in frequently with the 53k range
It could indeed happen that some whales push the shit out of some micro cap defi scams and then give them the rest once and for all. There are some decent projects, no doubt about that but right now it feels like a damn plague. With Bitcoin going up a pump on those scams could make sense. However, that might take a good while until Bitcoin really gets moving.
It feels like all these scam coins follow the exact same strategy when you follow their telegram channels or see the ANNs on Bitcointalk. Even if they only make a couple of thousand per scam, if you pump them out like a maniac one after another, that is a profitable business model for scammers. Long live Bitcoin!
Not anymore Bitcoin is very close to reaching their $50k level and it's possible that before we enter the fourth quarter of the year we are going to enjoy Bitcoin hovering $51k to $52k level, not even the recent hacking news on Japan exchange can bring down the price of Bitcoin, the market is doing great right now, FUDS are still there but the market manages to move upwards.
Right now Bitcoin seems rather to be fighting hard at just below the $50k level. I wouldn't be too sure that we are already close to another breakout in the positive sense. There is also less hype again and not really the greatest of all news, but rather just no news. There are more pressing issues in the media like the crises we have all over the world. Insofar I think that this doesn't feel like a moment where Bitcoin would indeed break out. It is also still summer time, people might be less trading and more travel. I would expect to see more speculation and price action in the months after August, perhaps October November when people spend more and more time in house.
Looking at the cryptocurrency market it is obvious that all other coins are bitcoin dependent. When the market for bitcoin goes up, the price of all other coins goes up. If the bitcoin market collapses again In the coins There is a big change in the price.
I agree, but its a chance that this thing will be changed in the future it Bitcoin lost of the domination in the crypto market.
I think its possible since many altcoin rightnow have great position in the market with their own investor that believe on the fundamentals of the altcoin.
I severely doubt that Bitcoin will ever lose its dominance in the market. The only little realistic chance I see is for Ethereum to ever become bigger than Bitcoin, but even that I doubt. The dominance might decline, that is quite possible, but that has nothing to do with Bitcoin becoming bigger, but rather with the number of coins joining the market and also catching a share of the total money invested. We are already at more than 10000 coins and Bitcoin is still doing very well, which is a strong sign.
I think people were expecting too much from the London hardfork implemented on the Ethereum blockchain in August 2021. They thought the transaction fees would be very low, and they would send cheap ETH transfers and swap ERC20 tokens on DEXes.
In fact, Ethereum miners are now earning little money from transaction fees that exceed the base fee per gas. However, they are interested in burning as many ETH coins as possible in order to make the supply more scarce on cryptocurrency exchanges. The whales will also likely try to add deflation blocks burning more than 2 ETH in order to publicly report about the useful feature introduced recently.
In such a situation, I guess the transaction fees will remain quite high in the near future.
In fact, Ethereum miners are now earning little money from transaction fees that exceed the base fee per gas. However, they are interested in burning as many ETH coins as possible in order to make the supply more scarce on cryptocurrency exchanges. The whales will also likely try to add deflation blocks burning more than 2 ETH in order to publicly report about the useful feature introduced recently.
In such a situation, I guess the transaction fees will remain quite high in the near future.
That's interesting and obviously a detail I missed to understand about the fork. Is there a ratio or statistics available of emission vs. burning per day? Are we talking substantial numbers here or does the daily emission still outcompete the actual burning rate?
Also, would it ever be possible that the supply becomes deflationary due to that feature? From what I understood it wasn't really the goal for Ethereum to become deflationary, so maybe you can enlighten me here.
Problem face by every trader and bounty participants with gas fee because many project delay distribution when gas price up, I think good moving if any coin have both network between erc20 and bsc20 so trader or bounty participant have good choose when trading or investing. Right now many coin have both network BSC or ERC and we can choose which one is worth for investing and deposit coin.
Agree, some of my tokens also trapped on the wallet since i cant move it because the fees will just hurt me so much because the amount of the tokens is not so much.
The only option we have is just wait until the gas reduced to be rational amount.
But in a best case scenario that is going to happen fast or otherwise these tokens are also dying down in value probably. Then again we know that it will take quite some time until Ethereum plans to further improve its scalability. It is definitely a mess with the gas fees. Time and time again I check what the transaction would cost me and it is just not possible to perform it.
Problem face by every trader and bounty participants with gas fee because many project delay distribution when gas price up, I think good moving if any coin have both network between erc20 and bsc20 so trader or bounty participant have good choose when trading or investing. Right now many coin have both network BSC or ERC and we can choose which one is worth for investing and deposit coin.
The worst thing about the high fees is that using Uniswap really is no option. You can't make any smaller trades as the fees are higher than the trade itself. It is almost never less than $25 when you want to use Uniswap. I don't know how they calculate the fees, but what is annoying is that usually transactions are lower in price. Uniswap takes quite the cut.
Actually, when bitcoin goes down people are in fear and they also attempt to sell other altcoin too, cause they believe in bitcoin most but don't believe enough altcoin. people do panic selling that's why all crypto market goes down in a sudden after btc dump. that's why you will see when bitcoin goes down 1x, another alts are goes down 10x fold, all of this are happened for panic selling.
One reason might be that whenever the market goes down, Bitcoin also represents the exit currency when they want to sell, thereby also putting pressure on the price. Bitcoin is also the best indicator we have when the whole market gets into trouble. It would usually hit Bitcoin first. By now there are USDT pairs but who knows what is going to happen when one day there is some kind of bank run on USDT because Bitcoin dumps hard. Nobody knows what the reserves look like for USDT and whether they could serve all customers in a quick fashion.
So generally I would say that yes most of the coins are dependent on Bitcoin, maybe not entirely but to a significant degree.
Right. recently many people are flocking to buy bitcoins when the price continues to soar. Even those who used to think bitcoin was over, are now starting to invest again. Although not buying when the bitcoin price fell to $30k but now you can still buy bitcoin because in the future the bitcoin price will set a new record. Hence bitcoin holders, in the long run, are the winners.
They are buying because they are hoping to earn since they believe the bull run is coming back again and we need to avoid doing this since its really dangerous to get FOMO then buy when market keeps pumping since we never know what will be the ending of it and might we will bag hold since we bought at the top. Yeah I agree although the long term holder is always a winner on this but the question there is does those people who bought at the top can handle the market stress? if yes they might be lucky but if not well to bad for them.
But this is where a high number of potential buyers might get excluded if they can't afford to hold for 3 years. You are right given the statistics no doubt about that, but we won't have these amazing returns anymore. Bitcoin going from $1000 to $1000 was more likely then Bitcoin going from $50000 to $500000. It's tougher to invest now depending on the returns you are looking for, but these outstanding returns are less likely. Most can only afford a fraction of a Bitcoin and that might also feel different and somewhat depressing. No idea, we will soon find out where we are going.
This week started with much anticipation for Bitcoin price analysts such as myself with high hopes that we are going to see a 50k Bitcoin price at the end of the week, we saw how Bitcoin price reached above $46k during this week before correcting down to $44k at the moment and the weekend is almost here.
What are your Bitcoin price predictions are we going to enter the weekend in green and what is your price prediction this weekend.
The resistance is without a doubt there however I do not really think is going to take long for bitcoin to surpass that level, after all even if it seems a key level for many I really do not think that is the case because it is too close to the all time high, so at the worst I expect a few days or maybe a few weeks in which we are going to be near the current levels and then out of nowhere that resistance is going to melt as if it was never there.What are your Bitcoin price predictions are we going to enter the weekend in green and what is your price prediction this weekend.
And since this is going to take so little time I do not really see the need to be worried about it unless you are a short term trader, if you are an investor then it doesn't really matter if bitcoin surpasses that level in a few days or weeks, we know that it is going to do it so just relax and let bitcoin do its thing.
Hm who knows, it could be similar to the $30k level we just had. Was going back and forth there, too. It looks healthy however, but those who got burned buying at $65k and selling again when they panicked might not be willing to risk it and burn their fingers again. I would like to know who the buyers are at these levels. Institutions, people who own Bitcoin anyway, or people who are new to crypto and now deem this a possibility to make some profit because they know where we came from?
Imagine, $1 invested in Bitcoin in July 2010 is worth $800,000 today.
Twitter: https://twitter.com/michaelbatnick/status/1348071853617782784
Look at the value of $1,000 invested in bitcoin five years ago
Twitter: https://twitter.com/JonErlichman/status/1373638414227156992
Not HODLing can be hazardous!
Twitter: https://twitter.com/adam3us/status/907404159179268096
A lesson for a lifetime. I learned my lessons, how about you? are you?
This is a nice topic that I obviously overlooked all the time. The last graphic is so true, holding vs trading. I made that mistake over and over again. Sold because I hoped to buy back a little bit more in BTC at cheaper prices when it dips. Often times my timing was bad and it didn't dip and I ended up buying back less BTC then I sold for the same amount of money. It is tough though to really hold and just do nothing but wait and believe in something. You can't even considerably contribute like you can when you are an entrepreneur. Sure you can spread the word, but the influence one has is marginal. Congratulations to those who really showed they have balls of steel and just held onto their BTC no matter what. That deserves a wow.
This week started with much anticipation for Bitcoin price analysts such as myself with high hopes that we are going to see a 50k Bitcoin price at the end of the week, we saw how Bitcoin price reached above $46k during this week before correcting down to $44k at the moment and the weekend is almost here.
What are your Bitcoin price predictions are we going to enter the weekend in green and what is your price prediction this weekend.
What are your Bitcoin price predictions are we going to enter the weekend in green and what is your price prediction this weekend.
This is going to be exciting now whether we will see a heave fight at the $50k price level or not. We could also just blast through that level potentially, but nobody knows of course. I hope we won't get stuck for too long and leave $50k behind us as quickly as possible. What is also possible is that $50k becomes kind of the next check point in the market where we will go sidewards for a while without losing or gaining much from there.