What about Bitcoin... :) | Page 33 | Forex Factory

Options

Go to
Permalinks
Print Thread
Attachments: What about Bitcoin... :)
Exit Attachments

What about Bitcoin... :)

  • #641
  • Jul 20, 2021 7:35am Jul 20, 2021 7:35am
Quoting michaelpelly
Last year at this time there was a hot topic - Bitcoin!!! I see it still moves towards $1 000 000 per coin! Why some people would never understand the meaning of the word “hype”!? And the simple rule - when a hype gets to the masses, all profit is already done. I have friends that lost basket of money in the “dotcom bubble” back in 1999. I have friends that lost tons of money in the “flip house bubble” in 2009. I have friends that hold some sweaty Bitcoins purchased at ridiculous price and we are coming to 2019. And they are still advocating......
I think that Bitcoin is just one among thousdans of active projects being developed around the blockchain technologies. Most of the governments are already developing innovation and development programs on it too. The future of cryptocurrencies does not seem short for now as it is supported by an increasing number of industries.

From the trader's perscpective the underlying market is unimportant, because we just try to speculate not worrying about what we are dealing with. Cryptocurrencies, most of them, are highly correlated and many times it does not make sense to trade more than a few at a time same as it happens with many usd pairs, for instance, in Forex.

But, in any case, a lot of people are going to eventually discover all the crypto-ecosystem and will be problably making a living from it or working for companies that are exploiting blockchain based projects, not limited to currencies, but also tokens, NTFs, public and private networks and countless decentralized apps.

I think that believing the crypto is a hype is not absolutely correct. The potential is unlimited, but the price depends on more factors than merely the market cap; so you need to understand the crypto and tokenomics of the asset you want to stake on.

Believing that one will get rich buying shitcoins or just applying to initial asset offerings may be instead more risky.

The problem with Bitcoin is that the mass got involved (as usual) just a few months or weeks before the last drop. But the mass is not a trading corpus but random actors surrendering their wealth to the markets so that others can benefit from it.
  • #642
  • Jul 21, 2021 5:07am Jul 21, 2021 5:07am
For me, Bitcoin and investing in cryptocurrency is a deferred case with a profit. Even if the price of bitcoin is falling and by the way is now near the lows. There is a very narrow amplitude and the MACD is near 0. I know that in the future we can see 100k and 200k, if the blockchain technology continues to develop and bitcoin and other cryptocurrencies will be able to replace our usual payment methods. In addition, I consider Bitcoin as a trading instrument, and the change in price, demand is a normal process, there is nothing surprising in its volatile movement.
  • #643
  • Jul 23, 2021 7:14am Jul 23, 2021 7:14am
Even the Bank of America decided to establish a crypto research team. The Head of global research for Bank of America Candace Browning revealed in the memo that the “Bank of America is uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise.” once and for all demonstrating the confidence of the bank with its actions.
Bitcoin has gotten big enough that even institutions like that are taking notice.
  • #644
  • Jul 25, 2021 4:30pm Jul 25, 2021 4:30pm
According to my forecasts, the bitcoin rate will decline soon, but then a rapid growth will follow.
  • #645
  • Jul 26, 2021 12:33am Jul 26, 2021 12:33am
Bitcoin might have fallen to a low, but it is already in the recovery process and I believe it will be back with a bang in the near future.
  • #646
  • Jul 27, 2021 7:06am Jul 27, 2021 7:06am
Bitcoin now is starting growth finally!! I'm excited. It's 37k already. Then it will grow much more. I believe in it.
  • #647
  • Jul 27, 2021 9:41am Jul 27, 2021 9:41am
Quoting louiseking
Bitcoin might have fallen to a low, but it is already in the recovery process and I believe it will be back with a bang in the near future.
There is no need to believe in anything, financial market cycles at the daily level last about 3 months. I said about.

The crack started on May I think, you will see a change in cycle between August and September.

I said a change, not a rise necessarily. It could be a consolidation or even a reaccumularion, no one knows. But it usually should be different from the last cycle most of the times.
  • #648
  • Jul 27, 2021 12:13pm Jul 27, 2021 12:13pm
Looks like Jeff Bezos decided to repeat the same trick as Elon Musk. Or they are a couple )) If so, then they will be fixed higher than the last high. It can be seen that below 29,500 they will not let in yet.
  • #649
  • Jul 27, 2021 12:33pm Jul 27, 2021 12:33pm
Quoting RichClaws
Looks like Jeff Bezos decided to repeat the same trick as Elon Musk. Or they are a couple )) If so, then they will be fixed higher than the last high. It can be seen that below 29,500 they will not let in yet.
The crypto market is littered with fake news and manipulation. It's a very shady space. Money can be made in this market, but one must have extraordinary patience to ride out all of the BS.
Learn from your mistakes and march on.
  • #650
  • Jul 28, 2021 12:49pm Jul 28, 2021 12:49pm
Quoting here2there
{quote} The crypto market is littered with fake news and manipulation. It's a very shady space. Money can be made in this market, but one must have extraordinary patience to ride out all of the BS.
The veracity of the news doesn't matter. It is important to understand from whom and why it comes.
  • #651
  • Edited 1:07pm Jul 28, 2021 12:55pm | Edited 1:07pm
Quoting RichClaws
{quote} The veracity of the news doesn't matter. It is important to understand from whom and why it comes.
The veracity of the news does matter! And both are important. There is a reason why websites like this exist.

It seems you are new to this space. How long have you been into crypto?
Learn from your mistakes and march on.
  • #652
  • Jul 29, 2021 12:12pm Jul 29, 2021 12:12pm
Quoting here2there
{quote} The veracity of the news does matter! And both are important. There is a reason why websites like this exist. It seems you are new to this space. How long have you been into crypto?
Cryptocurrency is a new trading instrument. Everyone is new to it. I fully calculated the rate of growth of bitcoin from the first tweet of Elon Musk. He made three verbal interventions to break the resistance level. On the third attempt, he had to admit that he was holding positions and the level was broken. I think he was taking between about 20 K and 30 K. He closed all position in the region of 50 K and 60 K. After that the market froze around 30 K. Now, from the bottom, Jeff Bezos began to do the same. I think they will start fixing profits in the region of 70-90 K and another price collapse will begin. It is necessary to pay off flights into space.
If you are not new to trading, consider this. FED, ECB and other Central Banks will allow cryptocurrencies to replace fiat funds ? How, then, will they be able to regulate the state economy? How will aggregators, interest rates and everything else be affected?
  • #653
  • Jul 29, 2021 12:20pm Jul 29, 2021 12:20pm
Quoting here2there
{quote} The veracity of the news does matter! And both are important. There is a reason why websites like this exist. It seems you are new to this space. How long have you been into crypto?
P.S.

Notice how Musk or Bezos' statements will appear at every resistance where Bitcoin gets stuck in order to break through the resistance level.
  • #654
  • Jul 29, 2021 12:27pm Jul 29, 2021 12:27pm
Quoting RichClaws
{quote} Cryptocurrency is a new trading instrument. Everyone is new to it....
If you have less than two years of experience trading crypto, then you are new to this space. I've been in this space since 2017. I know my way around it. I've also endured a painful bear market, which taught me some valuable lessons.
Learn from your mistakes and march on.
  • #655
  • Jul 29, 2021 1:09pm Jul 29, 2021 1:09pm
Quoting here2there
{quote} If you have less than two years of experience trading crypto, then you are new to this space. I've been in this space since 2017. I know my way around it. I've also endured a painful bear market, which taught me some valuable lessons.
What is your prediction for Bitcoin the next six months?
  • #656
  • Jul 29, 2021 2:16pm Jul 29, 2021 2:16pm
Quoting RichClaws
{quote} What is your prediction for Bitcoin the next six months?
I don't make predictions.
Learn from your mistakes and march on.
  • #657
  • Jul 30, 2021 10:29am Jul 30, 2021 10:29am
Quoting here2there
{quote} I don't make predictions.
And on what basis do you trade then?
  • #658
  • Jul 30, 2021 11:07am Jul 30, 2021 11:07am
Quoting RichClaws
{quote} And on what basis do you trade then?
I take it one day at a time.
Learn from your mistakes and march on.
  • #659
  • Jul 30, 2021 1:22pm Jul 30, 2021 1:22pm
Quoting here2there
{quote} I take it one day at a time.
Samurai has no goal only the path )
  • #660
  • Jul 30, 2021 1:35pm Jul 30, 2021 1:35pm
Quoting RichClaws
{quote} Samurai has no goal only the path )
Do you want to know what is on my mind concerning Bitcoin and the crypto market in general? I believe we are in a bear market. This recent move up probably won't take us far. I believe we will likely see Bitcoin test its 2017 ATH for support. It's possible it might even go lower. This is just my belief. I could be wrong. Time will tell. But what I can clearly see, from the Weekly chart, is Bitcoin is ranging and is still in a downtrend.
Learn from your mistakes and march on.
2 traders viewing now