So the market is taking a hugh dump with bitcoin dipping to the 8K area and this is the time to take a look at what is a actually going on.
The last couple of weeks was filled with fud after fud after fud and usually at a key resistance areas.
First We have India - they have declared that crypto is ilegal! well not exactly - The goverment just announced that they will fight illegitimate use of crypto currencies but the media as the media like to do is running a ahead by saying that its ilegal.
problems with USD Tether and their connection to bitfinex.
3 . South Korea is stricting their regulations against crypto and enforce some new rules for crypto currencies.
At times like and as long as bitcoin stays above 8k you should not look at the price but rather at the buying opportunities - everything is on sale right now and its time for shopping :)
The funny thing is that througout november and december 2017 the fud being spread about the lighting network being vaporware was high, the segwit transactions per second was stalling , we had very high fees for both bitcoin and ethereum, congestion, Yet the growth was insane!
Now things are a a little bit different - the tech is advancing - The lighting network has 400 nodes already over a thousnad channel opened - this will make bitcoin one of the most advance crypto currency, atleast for value transfer, unlimited transactions per second theoretically ! fees are down, confirmation times are faster. Japan is integrating more bitcoin payments. Korea has long terms positive regulations in place .
robin hood - the famous stock trading app has entered the world of crypto currencies and has over a milion users signed up to use the beta https://crypto.robinhood.com/
congestion is down
and so are prices
so you can see everything here is news related and very irrational . If you like you can take a look at some comforting viral tech analysis which will maybe make you look at things from a different perspective :)
its just another dinosaur formation, no need to worry!
just blur the highs in your charts and you actually mooning here no?
For a summery I would like to say the crypto currency market has made a massive and needed correction and most of it was because its needed to clean all the "dirt" from it as ponzies and scams like bitconnect which has fallen down recently. This will make room for more legitimate projects to bring in new strong hands into crypto and the inevitable growth of this amazing invention will continue.
Crypto maniac out
I agree with you completely.
This is exactly what I've been telling my friends and family. These corrections are necessary as we prepare for a new ATH. Cheers
I wish i had more fiat to buy buy bitcoin with i would be buying everything! lol
It's time to buy Bitcoin on 8-9K$)))
Dear oren730, make such content again)
Lol this is so funny
It is sad how many scams there are in crypto. It really is,
Stuff like this also doesn't really help boosting the image of crypto currencies. I can to some extent understand, why non-experts are rather sceptical about crypto without even knowing the backgrounds of it (most people don't even know there is more than just Bitcoin).
But I don't think the biased media coverage about the whole topic is fair, at all.
Government-controlled media is a bad thing, folks...
Facebook banning crypto advertising is bad for crypto. If there were not so many scams it never would have happened I don't thing since facebook said they banned advertising because of it,
nice dinosaurs formation
i have upvote on ur post. nice work mate..
please do upvote on my post please.
Well done. Best analysis I read in ages.
The FUD is really much more pronounced now
Funny enough it's a perfect time to buy and HODL
That's good news. So with time the price of Btc will come back up and soonest, it's price will be higher than it has ever been.
Thanks for sharing @oren730
Finally a chart I could understand
hahaha nice
Well good luck to everyone out there. I hope it goes up, but imho it’s too risky to try and catch this. Been burned too many times trying to catch falling knives and hodling. (Still holding some silver when it hit 40s. Makes for a good momentos and reminder.) for me to get back into btc it would have to go back to 15000. The downtrend is pretty much apparent, and this story sounds all too familiar, from 3D printing to gold and silver to all the way back to dot com. These crooks pump and dump, and the market is destroyed for years, if not decades. Futures market for bitcoin only spells doom to me.
If anyone is interested in another boom, I would suggest weed stocks. It’s stilll pretty early in the game and nice pullback is occurring.
Right now is basically the time to invest, I guess. How often have the media reported "Bitcoin value is going down!!!", but it always managed to re-gain value. I'm sure it'll happen this time aswell.
dear @oren730 it is very bad
thanks for upvote
sure this is time to buy different cryptos. But there is also the risk so whatever currency we buy we must do research about it. i think for this time bitcoin will be good to buy for now as the prices are very low. But and you will see within few months you are making profit
Way to keep a cool head in the midst of all this FUD. This thinning is a sign that the institutional investors are about to get involved. Some very strong hands will be in play soon :)
so sad to hear. really :(
Is this the bitter end for Bitcoin? For cryptos? Well, no, probably not. Get your head screwed on right and you’ll see that (for better or worse) many coins have seen unprecedented growth in the last six months to a year, even with Bitcoin’s price halved from holiday highs closer to $20,000.
(: Follow : @thecryptobetter :)
Man the "dinosaurs" pattern is really something else. I saw triangles, curves, but not his one - yet. But indeed it is Jurassic times in crypoto where there seems no rules apply, and basically you don't know what to expect in the next minutes. But that's why I love it! Still, the fact that India or Korea is having such a big influence on it makes me uncomfortable...
Its a HUGE fiat vacuum - cleaning out Ponzi scheme fraud.
Its ALL going to ZERO (0) for a COMPLETE RESET - and Global Debt Jubilee.
You got me at the dinosaur bro! Keep it up! LOL
Nice dinosaur! 😂
Thanks for this info oren.
Thanks for sharing this new, Value of bitcoin will go up soon just wait and hold
very interesting analysis, good job
Hilarious yet compelling content. But, tbs, they really should need to create a water-tight security if they want crypto to bloom rather than wither with all those insidious scams running rampant around the net - they are throwing mud at cryptocurrency's value and worth. Netizen are skeptic about crypto, laymans are crying because they've lost money by being scammed by some 'I'm-a-black-hat-guy'.
good points.
Thank you for this information.. One needs to be alert, so we know how we invest in stuffs like that
@dandida - isn’t this your work?
Refreshing view. Love the dinosaur. Great time to pick up more BTC and shopping spree, as everyone crosses fingers that it doesn't dip below 8k. Viva Bitcoin!!
lol very cool, i enjoy reading this one :-) Hope everything will rise above the head of the dinosaur in the near future!
If scams in crypto would continue, it would result from the Cryptocurrency market to fall downwards. This is a sad news for the crypto investor. Thank you for sharing this information @oren730.
Very nice article. The sort of post I like reading. I recently invested in a good amount of ETH, and am hoping that the market starts to spike on it soon.
Thanks @Oren730!!! Patience is a virtue and mainstream media love to prowl on the impatient and they don't like to see dinosaur curves :)
What do you think of ArcBlock and Blockchain 3.0?
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When breaking B because it is strong support and if the model fails the price rebounds from them.
Bottom line:
Price control on the 4-hour friday ..
Simply (the highest price support buy buy-down download down the support selling the decoction)
and do all this on the friday only 4 hours
Top support = buy
bottom support = sell
If price break The last support will be downloaded to the 6000
7000
areas in case the price will go back to 13000
Upvoted ☝ Have a great day!
Very valid observations. like @cyberblock wish i have more fiat to buy more cryptos!
I agree with you completely
That's been my advice for family and friends, we are preparing for another ATH. Time to buy cheap.
Cheers.
It definitely will rise again and rise higher than previously.
Cryptosaur, just like Dinosaur: It is gonna extinct or evolve?
nice post thanks for sharing i follow you
Yo that is hilarious thanks for the laugh 😁itll be fun watching the attempt back but those exchange issues are all that matter for now ... they know what they are doing as they hold the loans in one way or another 🙄 ehh
Great post thank you cor sharing
lol yes true I think there is still a very obvious growth pattern, and there sure will be bigger bursts here and there (in the future)!