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this was mostly report of some gloomy incidents in bitcoin and some of them weren't really that significant or even untrue. there were a lot more news about bitcoin in the first quarter of 2020. for example the French news about adopting bitcoin as a legal way of payment or the Indian government ordering banks to loosen their grip on their customers regarding bitcoin trading and some more positive news which were more significant than COVID, altcoins or some whale moving coins.
I think that it wasn't included as it didn't affect the market much and maybe CD was trying to mention the most significant things that straight affected the price.
Quote
⁃ The number of BTC whales (who have more than 1000BTC in their wallets) did not decrease on March 12, which indicates that the sell-off probably was not concentrated among the largest holders of long positions of the bitcoin.
that is completely wrong because we have no way of counting the number of whales in bitcoin. addresses that have a certain amount of bitcoin do NOT represent whales.If the number of 100+ wallets remained the same, it would suggest that if the coins were being exchanged it was not done on the markets but rather through OTC trading.
This means that big whales were not adding fuel to the fire during this crash.
It's a well known fact that the market price does not represent the real value of Bitcoin, simply because only a few percent of the supply is being traded. In other words, most Bitcoin owners do not trade and a lot of it is wash trading where the same people buy and sell the same coins over and over. I'm not a big holder, but the coins I got in 15 are still on my wallet and have not been traded at all. The majority of Bitoin owners do not actively trade.
What do you think, what price of BTC is fair currently?
I think this conclusions are pretty obvious by now, but the good thing is that the crypto market has survived and will remain resilient. I don't know when the author wrote this article, but halving is less than a month from now. And we should move forward with the current flash crash. As one poster have said, it is depressing, but I guess everyone should look at the bright side, we have survived and I guess everyone is looking at the next big event - block halving.
What are your forecasts?
The conclusions are depressing, and this seems only the beginning.
Well, we'll see it shortly
the conclusions and forecasts made by analysts of one of the largest crypto resources.
99% of those who you think are "analysts" are newbies who have very little understanding of this market!Quote
⁃ On March 12, ETH survived its biggest daily drop in history — nearly -45%.
that was nowhere near the biggest dump of ethereum. during mid 2017 alone it had lots of 50% dumps not to mention that 64% crash of 2018 in February. by the way this -45% dump was not a daily drop it took more than a day.Quote
⁃ The sudden drop in prices triggered snowballing liquidations.
⁃ All major crypto assets have experienced significant pullback (XTZ ~ 48%, BCH ~ 45%, XRP ~32%, LTC ~37%).
that's just altcoins getting dumped faster and bigger than bitcoin, it is normal. it is exactly liquidation it is panic sell.⁃ All major crypto assets have experienced significant pullback (XTZ ~ 48%, BCH ~ 45%, XRP ~32%, LTC ~37%).
Quote
⁃ The number of BTC whales (who have more than 1000BTC in their wallets) did not decrease on March 12, which indicates that the sell-off probably was not concentrated among the largest holders of long positions of the bitcoin.
that is completely wrong because we have no way of counting the number of whales in bitcoin. addresses that have a certain amount of bitcoin do NOT represent whales.Quote
⁃ Correlation with S&P500. Those who believed in bitcoin as an “uncorrected asset” were probably disappointed with how quickly the situation changed in March 2020. Bitcoin may return to an uncorrelated state, but its positioning as an uncorrelated component of the portfolio has been questioned.
anybody who has looked at bitcoin charts ever has been surprised about how well bitcoin performed during this time. a 30% to 40% crash in stock market or any other big market for that matter is a big disaster but in bitcoin the same percentage drop is just another normal moderate drop.Quote
⁃ Bitcoin transaction fees remained low during the market turmoil in the first quarter. Low transaction fees reinforce its potential use as a payment and transfer system, especially for sending large amounts.
wrong. fees increased up to 40 times during the 3 days that price was going down from the minimum of 1 satoshi/byte to up to 40. and they stayed up most of the same week and the next but not as high.Quote
⁃ Halving will take place in less than two months when the reward for bitcoin block generation will be halved
there is less than 27 days remaining to halving!Quote
⁃ New functionality for crypto networks will have a direct impact on adoption among users. First of all, it is the implementation of PoS for ETH,
switching from PoW to PoS is not a new functionality. it is a desperate way to save a centralized network and create some short term hype to pump the coin. and in the longer term it is to make free money for no work for those who have millions of Ether stored for free such as ethereum foundation and Vitalik who own the premined coins.Thanks for your comments. These are just take-aways from CD report, as CD is often considered as very reputable source. Your thoughts on this?
CoinDesk’s first quarter 2020 report has been released. The time since the beginning of the year was not easy, the more interesting are the conclusions and forecasts made by analysts of one of the largest crypto resources.
Briefly, the conclusions about the state of the crypto market in the first quarter of 2020:
⁃ Global disruption caused by the spread of COVID-19 caused a downturn across all asset classes, including a 30+% pullback in stock markets. Bitcoin was also in a knockdown, plummeting 40% on March 12.
⁃ On March 12, ETH survived its biggest daily drop in history — nearly -45%.
⁃ The sudden drop in prices triggered snowballing liquidations.
⁃ All major crypto assets have experienced significant pullback (XTZ ~ 48%, BCH ~ 45%, XRP ~32%, LTC ~37%).
⁃ BTC futures is not the biggest market, but the activity on it has not decreased. The volume in these markets rose sharply on March 12 and returned to the base level, equal to or above previous levels.
⁃ The number of BTC whales (who have more than 1000BTC in their wallets) did not decrease on March 12, which indicates that the sell-off probably was not concentrated among the largest holders of long positions of the bitcoin.
⁃ Correlation with S&P500. Those who believed in bitcoin as an “uncorrected asset” were probably disappointed with how quickly the situation changed in March 2020. Bitcoin may return to an uncorrelated state, but its positioning as an uncorrelated component of the portfolio has been questioned.
⁃ Bitcoin transaction fees remained low during the market turmoil in the first quarter. Low transaction fees reinforce its potential use as a payment and transfer system, especially for sending large amounts.
⁃ CoinDesk expects that the amount fixed in DeFi and the ETH price will rise in tandem. In the short term, restoring to previous levels will mean restoring confidence in DeFi systems.
⁃ Halving will take place in less than two months when the reward for bitcoin block generation will be halved — from 12.5 BTC to 6.25 BTC. After two previous halvings, the price of bitcoin increased and compensated for the loss of bonuses for miners. The March drop in prices so far puts the upcoming halving on uncharted territory.
⁃ New functionality for crypto networks will have a direct impact on adoption among users. First of all, it is the implementation of PoS for ETH, as well as Schnorr signatures and Taproot for BTC.
The full article is here: https://medium.com/@baloyan/coindesk-first-quater-2020-report-457073e302bb
What are your thoughts?
Briefly, the conclusions about the state of the crypto market in the first quarter of 2020:
⁃ Global disruption caused by the spread of COVID-19 caused a downturn across all asset classes, including a 30+% pullback in stock markets. Bitcoin was also in a knockdown, plummeting 40% on March 12.
⁃ On March 12, ETH survived its biggest daily drop in history — nearly -45%.
⁃ The sudden drop in prices triggered snowballing liquidations.
⁃ All major crypto assets have experienced significant pullback (XTZ ~ 48%, BCH ~ 45%, XRP ~32%, LTC ~37%).
⁃ BTC futures is not the biggest market, but the activity on it has not decreased. The volume in these markets rose sharply on March 12 and returned to the base level, equal to or above previous levels.
⁃ The number of BTC whales (who have more than 1000BTC in their wallets) did not decrease on March 12, which indicates that the sell-off probably was not concentrated among the largest holders of long positions of the bitcoin.
⁃ Correlation with S&P500. Those who believed in bitcoin as an “uncorrected asset” were probably disappointed with how quickly the situation changed in March 2020. Bitcoin may return to an uncorrelated state, but its positioning as an uncorrelated component of the portfolio has been questioned.
⁃ Bitcoin transaction fees remained low during the market turmoil in the first quarter. Low transaction fees reinforce its potential use as a payment and transfer system, especially for sending large amounts.
⁃ CoinDesk expects that the amount fixed in DeFi and the ETH price will rise in tandem. In the short term, restoring to previous levels will mean restoring confidence in DeFi systems.
⁃ Halving will take place in less than two months when the reward for bitcoin block generation will be halved — from 12.5 BTC to 6.25 BTC. After two previous halvings, the price of bitcoin increased and compensated for the loss of bonuses for miners. The March drop in prices so far puts the upcoming halving on uncharted territory.
⁃ New functionality for crypto networks will have a direct impact on adoption among users. First of all, it is the implementation of PoS for ETH, as well as Schnorr signatures and Taproot for BTC.
The full article is here: https://medium.com/@baloyan/coindesk-first-quater-2020-report-457073e302bb
What are your thoughts?
Re: To late to invest in Bitcoin or other cryptoCurrencies or related products?
Nothing is late if you do not act, from here to 2021 Bitcoin will explode again, and this time may be much larger than the previous times. Trust me.
I'm believing it this too!
Got some questions: what are you raising money for? What's the global plan? Also, it seems to me that the project is really interesting (Uber in private jets), but who are your main rivals? As I think there are some existing companies that offer private jet bookings,
Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Have a nice day!
For the record: we at Etcetera are running our own campaign. Etcetera is a new start-up with the idea of selling cryptocurrency gift cards in local stores worldwide.
You can join our bounty campaign here
Have a nice day!
Thanks! Enjoy your subscription!
Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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Re: BOUNTY-HUNTERS - the best place to find or launch bounty campaign
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