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Will Bitcoin dip back to $8K again? Many are still expecting that.
Bitcoin is bouncing into some key resistance areas and we've not seen the big follow through day yet.
There are some signs of strength of the shorter term time frames so we need to consider a few different scenarios. I'll go in depth as to what I see and also review a few alts that look strong here.
Wouldn’t touch IOTA or VeChain. IOTA is a disaster waiting to unfold tech wise. VeChain is a flash in the pan alt that will descend down the same path as most useless alts do as companies will create their own blockchains to track their goods to market like Kodak recently did.
I actually believe that after a BTC had a 5x run in the second half of 2016 and then a ~14x run through 2017, we will be fortunate to leave 2018 positive. In fact, I believe that it will take about 2 years to fill in those gains before we possibly go higher in 2020. You don't get a 70x run-up in ~20 months without having significant pull-backs and sideways action for a long time.
Wicked vid - cheers for sharing !!! :)
I need a time machine to fix the mini-mess I'm in - never invest more than you can afford to loose - can laugh or cry...
I'll laugh at my mini-mess, cheers !!! :) You can laugh at me too !!! :)
You’re referring to the CBOE futures contract I suppose as the CME already expired. We shall see, there aren’t that many contracts to begin with, so to effect Spot price that much is a stretch. Not saying it isn’t possible, just not likely. Guarantee you one thing, on the Feb contracts they will go long on those contracts, so I expect a run up......
J.T. Irby bro if you look at the chart it seems to go below 9k and buy walls are set by whales, they can change it anytime but again chart analysis are just a prediction with a hypothesis, so you cant be sure of anything but its highly possible to go down to 8k or 7k.
Why would it matter whether its a long wig or long green bar. Its the same action. It only depends when the low was. Even hours or between even hours (or whatever the time unit is). Why would that make any difference.
A long green bar shows sustained buying. The long wick's show that the majority of the buying was countered with selling. On the other hand a long wick on a red buy is nice to see because it shows that buyers rallied during large sell offs. Quite simply it just shows who won the bar and by how much (bulls or bears).
I feel like all the hype is around alts right now. Most of this new money that's been flowing in is ill-informed and they see bitcoin as outdated and useless. Until that sentiment changes, I don't think btc is gonna go on a run.
Yup. And this is exactly the hype that is gonna cause new alt money to flow into btc. But I still think the alt party isn't over yet. Alts will have at least one more extremely exuberant run this year.
James Youkhanis - Lightning Network is LIVE on the Bitcoin blockchain and growing at a rate of 42% a day. It is capable of handling MILLIONS of transactions per second and at a cost of a FRACTION of a penny.
James Youkhanis that would be one possible way to give newcomers a reason to support bitcoin, but I think a better way would be to somehow get the idea out there that bitcoin doesn't need to solve the scalability problem right now and that for now all it needs to be is a store of value. The problem of scalability hasn't been solved by any coin, and it's possible that we haven't achieved the level of tech innovation to make blockchains scalable yet. People need to remember that bitcoin's code basically allows for anything to be updated, and so it's not the case that a different proof of work cryptocurrency platform will be able to become scalable and overtake bitcoin -- because bitcoin will simply adapt. Another thing people need to realize is that the only way cryptocurrencies can hold true value is if the network protocol is proof of work. It sounds odd but it's quite true that since bitcoin was the first cryptocurrency built upon a proof of work blockchain protocol, it simply cannot be replaced by a new proof of work cryptocurrency.
The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.