After some sideways price action over the weekend, will Bitcoin and the Cryptocurrency market go Bullish or will it go Bearish?
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Technical analysis is cool, but it is 'reactive' so to speak. The fundamental case determines the real momentum and price action. The lines on charts are more so just coincidences, evidence of similar mindsets in buyers and sellers. That being said, it's hard to call the future for crypto's. Personally do you see BTC forming new highs? I know crypto traders love the gains from the rapid price appreciation, but it really defeats the viability of any crypto as a dependable currency. Tbh all the cryptos seem to be acting more like commodities (like gold) than currency.
I'm not convinced that "tax season" in the US is really going to make any kind of difference. Most of the action in crypto is in Asia, and there was little to no price action linked to Chinese New Year despite so many predictions that there would be. So why would taxes in the US affect global crypto prices?
Its said that when it feels like the bear market will never end it is near to doing so,and i would add in abscence of any horrific news is likely to end,big neo conference in amsterdam in april,consensus in may with palm beach reports saying 5 trillion ready to scale in the market,last years ico`s main nets and some new like augur and zilliqa coming on line at the very least it is a possible buy the rumour sell the news price cycle n cheers for the content dude
Despite tax season there’s been an influx of new investors and new fiat coming into crypto. Most likely the tempting prices. The big/smart money seems to be on the sidelines waiting for the bottom. I’ve said here before I think the bottom will likely be between 5500 and 5800.
The USD continues to gain strength. Uncertainty amongst government and the waffling on "regulations," etc. People like Vitalik Buterin and his silly ideas... These are the things pushing people away from Crypto and causing the "crash." Will it recover? Yes, I do believe it will. Don't be scared now just keep moving forward folks.
see now i don't think any trade action that occurred before the december or january highs can be used as support or resistance lines any more as anyone who was involved in all that trading has long since sold out, taken profit or whatever but after january the 18th it was basically just a big market reset
Too many lower- and middle-income people who couldn't afford to lose money jumped on board as it was rising and made it rise again, but when it fell back to 10k then 6k they lost their money and their exuberance for crypto. My theory is Wall Street used its massive money to manipulate the market and shake them off like a rat terrier in order for people to start using banks again and invest in the stock market again. The only problem is, bitcoin and other alt coins still work as a replacement for banking as long as you buy and sell while its stable at whatever price or sell before it drops. And ya bottom-feeding day traders, short sales, bots, fuck em all for ruining it for everyone else.
Ok fair enough - I just got burned and perhaps I was unfairly venting a bit. You state your case well. I definitely want to see crypto thrive and grow and see de-centralization of everything including currency and authority. I want to do my part to assist that evolution.
Hello ,bit harsh on the traders and the bots there dude,short sales are indeed evil,a financial instrument that is the primary physcological weapon against humans,but i would say it is the big algo`s,your massive money, doing that ,traders we need,but the mental discipline(stay calm,buy dip,sell peak,shit happens)is not for everyone,and rather than just hodl the stuff bots can help get your money active,or trading platforms,or staking/nodes/masternodes/mining or even investing all of it adds value to the system and we have to as an individual and a community as a whole actually use the tech in/on the blockchain it is literally up to us to help ourselves/eachother and strengthen the market internally i reckon.And yeah i do day trade and ico invest and but i have not to date used bot programs but likely will in near future to a degree.
Great show as always B! I think what we are seeing is just a continual stair stepping down to about the $2-3K price area for BTC. The pattern will be severe drops followed by consolidation and head fakes (mini bull traps) as we stair step down to $2-3K. All of the alt coins will eventually lose about half their present value until BTC bottoms. Look back at last year for three months from May to July. The volume accumulation is tremendous over this period of time. This is the strongest and most sustained volume and price support for the past two years. Most of the smaller whales (that dwarf the rest of us) took positions at the $2-3K price area. Also I understand that the average BTC miner breaks even at @ $2K. One has to be especially skilled and patient to eek out gains in this kind of brutal bear market. My strategy has been for the past few weeks to be in fiat 90% of the time. Occasionally I am buying some BTC after confirming a sudden dip is done and quickly getting back to USD or Tether after about a 2-3% gain for the day. I can't wait for the fire sales on BTC and the quality alt coins when BTC bottoms, probably in April or May. Best of luck to us all!
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.