Although I am hopeful, the recent patterns just aren't speaking too kindly for the future of Bitcoin at the moment, and it does seem like the word '"down" is in its immediate future.
All of the trading patterns of late just seem to be robots, doing what they do, with little to no real people action anywhere to be seen in my opinion.
Manipulation at its finest if you will, is all I see currently across the board, and sadly, due to the fact that all of the other cryptocurrencies are in lock step with Bitcoin, there really is no safe haven to escape this bot madness either.
I mean when you really think about it, how hard would it be for the giants of old money to really take down the cryptocurrency market?
They have the money, they have the resources, and Satoshi knows they have the hate and desire to see it through.
Hell, one of the evil giants of old, maybe the biggest, Goldman Sachs is already predicting the worst for the bruised and battered Bitcoin, so who's to say they aren't in on this?
I don't know guys and gals, but shit ain't looking good for Bitcoin... your thoughts?
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I still think we going sideways for a bit. I'm gonna take a wait and see approach.
Well, you're very smart then, because I think a bunch of people are trying to time this thing, and are being majorly burnt in the process.
I feel a strong deja-vu from 2014-5, when all cryptans seemed like a Cargo Cult members sitting calmly and waiting for iron birds to arrive. But they didn't come.
Ha ha, I hear that, and what are your predictions for this year on Bitcoin?
Goldman Sachs keeps on bashing Bitcoin and crypto in general while buying Poloniex through Circle for 400 millions $. Banks are funny.
Funny they are indeed, and notoriously good at buying the number one spot in any business, so I'd keep an eye on them bastards.
Yeah. I think that it might be really profitable to hear what their predictions are and go in the opposite direction lol.
And in my opinion, Goldman Sachs never does anything until they have bought and paid for the outcome they want sadly.
“Goldman Sachs never does anything until they have bought and paid for the outcome they want”
This is perfect. I am keeping this and posting it in my quotation blogs. Credit will be given, of course.
Ha ha, when my eyes were opened a few years back, I saw the truth all around me, and that my friend... was one of those truths.
Many more are taking the red pill. There is some hope that, in time, enough will be aware of the reality around them.
But again, it may take so long, we’ll all be dead by then.
Today in Cointelegraph:
Goldman Sachs: Bitcoin 'Has Potential' To Drop Below February Low Of $5,922
Hmmmm. They must be buying, or looking to buy.
Like I said, everything they do is calculated.
Is it a smart move to play follow the leader with Goldman? I mean, if they are manipulating markets or at least throwing their weight around to influence things, wouldnt it be smart to ride their waves?
Usually when Goldman plays, only Goldman benefits... so be careful.
Did anyone notice that the weekend when Wall Street is only doing hookers and blow, the entire crypto market was doing great? Then about 9 AM the shitstorm started and BTC dumped almost $1,000, and of course the alts followed.
Coincidence??????
There's no such thing as coincidences, so I do believe Wall Street is playing a much bigger roll in this market. I mean when you break it down, the cryptocurrency market is the perfect swing slash day trade environment.
Haha...there is an uncertainity in this game....is there anyone who can further predict something???:p:p i dont think so... Because the present value is full of mess...:D hope for good now✌️
Reminds me of the GFC "Gold rush" where people with huge gold holdings or investments in gold miners kept saying how everyone should invest in gold, that the dollar was doomed..... then sold all their gold at record high prices. Now we see them creating artificial negative sentiment so they can get in lower....
You are right! Shit isn't looking too good. I for one would be really shocked if this was the end of Bitcoin! I mean, it looked like we were just getting started now with the hope to get some mass market adoption. We just wait and watch where it goes :)
It can only go down to zero but there is no upper limit ;)
If it goes down as low as some are predicting, it may never recover, but hopefully we can finally get rid of Bitcoin, and focus more on coins and tokens that have an actual purpose.
This was my calculation of worldwide probable adoption rate based on the Korean petition to the government against banning cryptos:
S. Korea has one of the highest crypto assimilation rate in the general population. They got 218,000 petitions signed. The population is 51.25 million. That means 0.425 % of the population cared enough. Lets assume that is 1/10 of the crypto users.
That still leaves us with a crypto participation rate of 4.25% of the population.
If S. Korea only has 4.25% of the people in cryptos. The world at large has to be no more than half that. And I am estimating large here.
Conclusion: we likely have no more than 2.13% of the world population in cryptos, or better said 97.87% still waiting to come into the space.
THERE IS PLENTY OF ROOM TO GROW
I am bored and no longer optimistic, so seem to be most others. When we get pissed and downright pessimistic is when things have hit the bottom.
Legacy Evil money can manipulate bitcoins as well as they manipulate every other market. And since they no longer ignore cryptos, we have to approach this with the assumption that they do.
That's why, my tactics have drastically changed, until the big banksters grow tired and bored with cryptocurrency, and go destroy something else.
I think they’re just getting wormed up. You will be waiting a long time. The problem is that if they can manipulate it to make money, they’ll never move on to something else. They will just add it to the list.
This up to $10,500 and down again can only last so many cycles before too many people are burned and fed up, eventually, they'll be no more fools left to steal money from... then they'll leave.
I so hope you are right.
But they are doing the same in the commodities market for many years, and I don’t think they’ll ever stop. In on stocks, bonds, energy, carbon, politics…you name it. THEY are not leaving anything untouched.
No they aren't, but if and when the technology becomes useful, that they won't be able to stop, and the prices will reflect.
Even with them playing around with numbers and gaming the crypto markets, I agree that the time bias is positive.
On a long enough timeline…
I've been kind of fearing the day that bigger institutions and robo traders get into cryptos...that's a large part of what turned me off of short term trading in stocks, options, and other derivatives several years ago. Big money can and often does drive prices in the opposite direction than actual fundamentals would which makes it harder for short term, small time traders to profit. This is why I'm doing this long terming, buying dips, and holding indefinitely.
Long-term really is the only way, but I personally want to buy at the very lows before setting and forgetting if you know what I mean.
Oh for sure. I understand your sentiment. I've been guilty in the past of entries that are too early but eventually end up in the green and the crypto markets are no different (I did manage to get in before the big December rally though).
It'll be interesting to see what kind of prices are offered up to us in the coming weeks. I could make a case for either scenario but I think a bit more red is more likely before we see another serious rally. So I've resumed my dollar cost averaging on a small scale for now and am holding off on any larger buys for a really good price.
I don't blame you, and dollar cost averaging is a real sanity saver.
I started buying in November and everything was going up so fast then, Of course a massive crash happened right after. It's weird how this market goes and I'm with you I'm 100% sure there is manipulation is in this market.
There can be no other explanation, and sadly, it is even easier to manipulate then traditional markets, because all you need to do is manipulate Bitcoin, and the rest will follow.
Very sad isn't it. Same with pump and dumps but hey at the end of the day this could be one of the fastest way to get a quick ROI and I'm not complain right? I appreciate how you communicate with all your comments, you do have a lot
Comments are what I live for on here, because I can actually learn something through them, which is something I very much love and appreciate... even if it's something I don't want to hear.
Since I am just now learning crypto I am betting on an upswing in general.
I think Bitcoin in particular will bounce back over the summer.
That maybe so, but not before it bottoms out pretty badly... but who the hell knows?
Still with a bit of education on the topic it could be better odds than a lotto ticket.
We can wish each other luck and keep on reading I suppose.
Yes, let's do that, and good luck!
Definitely not looking good. But patience is virtue. Who knows, this might be a pull back to finally get the bull run started. I think you are overthinking the market situation from past few days.
I hope you're right, but I have been noticing a downward channel for months now.
The downward trend is surely looking bad but I think BTC has seen worse than this.
Compare it's worse downtrend to this most recent one... what are your results?
Coinbase allegedly did not implement SegWit properly and is losing people's bitcoins
Source?
https://amp.reddit.com/r/Bitcoin/comments/841hl5/coinbase_allegedly_did_not_implement_segwit/#click=https://t.co/hR45JQUf3Q
The market need new money, more development and more crypto user-friendly apps to help newbies.
Thanks for sharing
Don't forget some semblance of stability as well, that's very important as far as a currency is concerned.
Yeah true, regulations are a must, people need to feel safe in their investments, right now crypto is the wild west
It definitely needs something, that's for sure, mostly more new money.
I suppose it depends, do they want to destroy it now or profit from it? I hate this sideways trading, I keep thinking I should sell my positions and then buy them back in the next dip, but I’m convinced as soon as I sell the bull market will finally hit and I’ll miss the boat.
Are you hodling? Or trading?
The only thing I am in now is Steem, Steem Backed Dollars, and cash my friend... I see nothing but bad news for everything else going forward for awhile.
Bitcoin is going down and at a very high rate. I don't know the current status of the BTC market. We will just hope for the best. I have a feeling that BTC is going to go up again but u know who cares about those feelings. The truth is that we don't need to stick with the Bitcoin. We still have other options and a good survey of the market would help in better investing options and plans.
No, you are so right... we most definitely do not have to stick with Bitcoin.
Will go up to 10k by the end of this week and the to 15 by the end of the month is the way tp 50k i the end of the year
An optimist... I like that!
A few weeks ago I also saw Bitcoin at 50.000$ by the end of the year. My optimism faded a bit. Still possible obviously but not easy.
I always saw Bitcoin as being on a deadline, because once all the exchanges implement fiat pairs, coupled with the death of ICO's, which is coming soon, that Bitcoin will not be necessary anymore... so $50,000 to me just seems absurd for a coin that has no purpose... hell Monero is a 100 times better than Bitcoin.
Calm is followed by strome, I think the prices will go up. What do you say?
I have no idea, and never did with Bitcoin either... it has no rhyme or reason.
Same thoughts Bitcoin isn't looking good , keeping in view recent ups and Down.
Hopping for better results in future
Yep, as am I, but it's got one hell of a fight.
I think ,
Bitcoin and other digital currencies have always been
volatile, so a big daily drop is as usual.
Long-term downtrends are different though, but we'll see how it all plays out pretty soon I'd gather.
Yeh @tolkatore...
It play out pretty very soon...
It has been quite some time now that steem has been stable but we hope that the storm is in our way and steem rises all time high.
Steem's day will come, but mass adoption needs to come first.
For mass adoption we need to educate many people... We have seen many advertising ways to gain attention of many people..
The outlook does not look very good now or promising, but in the past it has gone down and it has recovered.
If anyone is having a bad day with crypto's market, Remember that today in 1976 Roland Wayne sold his 10% stake in APPLE for $800. Now its worth $58,065,210,000
So KEEP CALM & HODL ON!!!
really scared we see the cycle of bitcoin now, the drop is very drastic, surely many traders lose big, so if we always rely on bitcoin
We need to stop relying on Bitcoin, but it will be a hard drug to stop, that's for damn sure.
Goldman Sachs is a big critics of bitcoins but still i think with all odds bitcoin is the currency of future. It has tendency to go rocket high. Let's hope for the best. keep sharing @tolkatore
I just hope for rise in its value only....its value has been decreased terribly from past days...every prediction failed..now hope to see some good days ahead or in your language.."huge storm"
Up would be nice, but we'll just have to sit back and see.
Thanks for your valuable and informative post.
As they say if it has a "start" it means it has an "end" .
BTC will arrived at destination suddenly like bursting it.
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And we have no option other than to sit at back and see. Hope to see some good days ahead.. thanks for providing info regarding such important factors..
Resteemed so as to get maximum points from holders.
Like it or not, the future of cryptocurrency will be determined by bureaucrats.
Digital coins don’t fit traditional regulatory definitions—what policymakers do about that will determine where the technology goes from here.
@tolkatore I also think that. Hope it's true. Otherwise, the stock holder will face a huge loss.
Some good names are looking to invest, I heard... So it's gonna go up.. Will it?
I've always guessed that bitcoin is not always as expected, now its position is down drastically, "be careful" maybe that word we deserve now to say bitcoin