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hero member
Activity: 520
Merit: 11957
April 02, 2022, 06:13:24 AM
#39
I think the opposite is right. If it wasn’t for covid who knows if Bitcoin would of hit $69K or stock market making these crazy ATHs or if GameStop would of been bankrupt already.

People got a stimulus and stuck at home. They got bored and decided to invest in the stock market. Stock market went up like crazy due to retail participants.

Months later everybody started to follow crypto and it was the same. Lots of new adoptions and such. Lots of stimulus went into crypto and such. If it wasn’t for covid who knows where we would be in the markets.

Quite right. It was the pandemic that spurred the crypto market to large-scale growth, and thanks to the pandemic, institutionalists began to expand their investment portfolios and add bitcoin there as a protective asset against macroeconomic risks. And due to the fact that, due to the pandemic, the Fed began to actively stimulate the economy and allocate billions of dollars to maintain it, those people who received subsidy money, they spent it on cryptocurrencies, increasing the price of bitcoin even faster.

Americans, for example, very often spent $1,200 in social security payments to buy bitcoin.

full member
Activity: 608
Merit: 154
April 03, 2022, 01:58:18 AM
#35
It was the pandemic that spurred the crypto market to large-scale growth, and thanks to the pandemic, institutionalists began to expand their investment portfolios and add bitcoin there as a protective asset against macroeconomic risks. And due to the fact that, due to the pandemic, the Fed began to actively stimulate the economy and allocate billions of dollars to maintain it, those people who received subsidy money, they spent it on cryptocurrencies, increasing the price of bitcoin even faster.
It wasn't even "just" crypto that got that huge growth. I mean since money was given for free to people basically, everyone used that to either survive, or if it wasn't needed for that, then they invested with it. At one point Elon Musk worth 300+ billion dollars, Jeff Bezos was right there as well. Combined they worth 500+ billion dollars between just two of them.

This shows what the stock market was like, it is recovering right now as well and it's coincided with crypto increase as well. This means that the market is getting better, and everyone is looking at investing all over again, we just had a crash, both in crypto and stocks but that is becoming old news.
legendary
Activity: 3738
Merit: 1708
CoinPoker.com
April 01, 2022, 11:22:09 PM
#34
The only thing holding back bitcoin is the amount of money that needs to get injected.
The bigger bitcoin gets the more it needs to go higher.

For now COVID etc. has limited what people can invest and it's all been on the low low last two years.

Hope some ETFs and other financial instruments get released and adoption continues and bitcoin gets attention again ...

I think the opposite is right. If it wasn’t for covid who knows if Bitcoin would of hit $69K or stock market making these crazy ATHs or if GameStop would of been bankrupt already.

People got a stimulus and stuck at home. They got bored and decided to invest in the stock market. Stock market went up like crazy due to retail participants.

Months later everybody started to follow crypto and it was the same. Lots of new adoptions and such. Lots of stimulus went into crypto and such. If it wasn’t for covid who knows where we would be in the markets.
legendary
Activity: 1652
Merit: 1265
March 31, 2022, 01:15:58 PM
#33
The only thing holding back bitcoin is the amount of money that needs to get injected.
The bigger bitcoin gets the more it needs to go higher.

For now COVID etc. has limited what people can invest and it's all been on the low low last two years.

Hope some ETFs and other financial instruments get released and adoption continues and bitcoin gets attention again ...
sr. member
Activity: 1313
Merit: 302
March 31, 2022, 01:11:03 PM
#32
Bitcoin is still valuable and continues to survive because it is still actively used, with an ever-increasing community making the price and demand for bitcoin continue to increase, moreover more and more companies continue to adopt and develop bitcoin so that it is easier to use and makes demand continue to increase.

Now the price of bitcoin is around 47k dollars was not a less value.But if you trust the potential of the bitcoin,just hold the money.The price of bitcoin is not a expected rise now.The price will cross the 60k dollars in a couple of months.So just hold the money in bitcoin.When the bitcoin cross the value of 60k dollars,your profit percentage will be higher than now for sure.
legendary
Activity: 2618
Merit: 1181
March 31, 2022, 12:16:36 PM
#31
Such a group of people always thinks a lot and ends up buying at the very top. Cheesy Many people don't understand the basics of the market, that when everything goes up, you have to sell, and when everything goes down, you have to buy. For most, it's the other way around. Throughout February, the market gave people the opportunity to buy cheap coins, whether bitcoin or altcoin. But no one did. Everyone was waiting for some additional signals. And now, when the market has already grown by 30-40%, people suddenly began to en masse wonder what they would invest in. Cheesy
I think they know what the purpose of trading is but some of them are afraid to make a decision so there are times when they ask at the wrong time like when the market has grown better than before. Such people have no strategy in trading and will continue to depend on others for their decisions while trading is buying low and selling high to make a profit. But these people will also be able to profit if the market continues to grow better than when he bought which just takes a lot of patience.
legendary
Activity: 2842
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March 30, 2022, 04:35:12 PM
#30
probably when we hit $50k, there could be a new set of investors again, whether come backing to the market or beginners as retail investors.

We will see, the price seems to be fluctuating around $47k'ish in the last 24 hours, and the volume right now seems to be decent although it is not the same as we are in a bull run. But still good enough for the last week or so to go up and move away in the $30k range, vey good indication and hopefully it can go and and gather momentum for a April run to $50k.
I believe that those people are watching like hawks right now. They want to get in but they are not certain if the price will go up or not. They are looking right now to see if the price will continue to go up and will decide to invest in when the price does continue to go up. However what they do not realize is that this group is such a huge one that if they got in right now, they would take it higher themselves Cheesy.

 It is always a bit weird to tell people "you don't have to wait for it to go up, you could buy right now at cheaper level so that you could take it higher and make a profit thanks to yourself", because they never trust that others will do the same. If everyone did it, we would be talking about 100k right now instead of 50k.
sr. member
Activity: 1428
Merit: 252
March 30, 2022, 10:29:28 AM
#29
Bitcoin is still valuable and continues to survive because it is still actively used, with an ever-increasing community making the price and demand for bitcoin continue to increase, moreover more and more companies continue to adopt and develop bitcoin so that it is easier to use and makes demand continue to increase.
hero member
Activity: 2632
Merit: 833
March 29, 2022, 06:26:29 PM
#28
Yawn 48k, higher than when we started the year, time to say the original question of thread's answered or is that speaking too soon? Wink

Of course given. Smiley I think the accumulation phase, which lasted 2 months, is over and now we are expecting a surge in volumes, volatility and price growth. Bitcoin broke through one of the key resistance levels, thus marking the beginning of the bull run. As Glassnode predicted, selling pressure from short-term investors eased, and bullish faith was still strong, nothing is holding the price back from rising, even the aggravated geopolitical situation. I think we can easily conquer 50,000 and up in the near future. April should be bullish.

Yeah, I definitely buy the volume expectation too, I think there's been more than a few parties/people/institution who have been holding off on liquidation for a while now. First, when they caught the November ATH too late, and then those who were expecting Dec ATH (remember when every influencer was naming 31 Dec) and then now that we're back at that same position, some will have decided to change their mind and wait again for ATH.

50k is certainly going to look like a signal for that. Happy days.

Yeah, probably when we hit $50k, there could be a new set of investors again, whether come backing to the market or beginners as retail investors.

We will see, the price seems to be fluctuating around $47k'ish in the last 24 hours, and the volume right now seems to be decent although it is not the same as we are in a bull run. But still good enough for the last week or so to go up and move away in the $30k range, vey good indication and hopefully it can go and and gather momentum for a April run to $50k.
hero member
Activity: 2996
Merit: 609
March 29, 2022, 05:27:06 PM
#27
Yawn 48k, higher than when we started the year, time to say the original question of thread's answered or is that speaking too soon? Wink

Of course given. Smiley I think the accumulation phase, which lasted 2 months, is over and now we are expecting a surge in volumes, volatility and price growth. Bitcoin broke through one of the key resistance levels, thus marking the beginning of the bull run. As Glassnode predicted, selling pressure from short-term investors eased, and bullish faith was still strong, nothing is holding the price back from rising, even the aggravated geopolitical situation. I think we can easily conquer 50,000 and up in the near future. April should be bullish.
We are all eyeing on the next month to come to be bullish and it is true and most people had observed out that even on sentiments around like that War didnt really put up soo much effect on the overall

market which is a good indication that it could really withstood such scenario.Somehow im not that assure that we are on  that accumulation phase when we do able to stay on 40k price point or even
that 38kish kind of price.

Having some breakouts is a good thing but doesnt make out an assurance that we would be going back into that path once again but well impressions and assumptions could really vary.
sr. member
Activity: 783
Merit: 270
March 29, 2022, 05:00:20 PM
#26
I definitely buy the volume expectation too, I think there's been more than a few parties/people/institution who have been holding off on liquidation for a while now. First, when they caught the November ATH too late, and then those who were expecting Dec ATH (remember when every influencer was naming 31 Dec) and then now that we're back at that same position, some will have decided to change their mind and wait again for ATH.

50k is certainly going to look like a signal for that. Happy days.
I do believe that volume will definitely keep going because of the increase, and not because of the hold off. I mean sure there could be some places that had some USDT and waiting for it to get better, but there were also some people who didn't expected it to go up, saw it go up, they were shocked and they just got caught in the hype of it all and got in.

This doesn't mean that they were wrong, or doesn't mean that they were the only ones, it just means that these type of increases can't be explained by just one thing, it needs to be multiple things all together. I have to say that the best thing we could do right now is to focus on getting better volume and liquidity and keep it that high for the betterment of the price.
legendary
Activity: 2842
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March 29, 2022, 08:21:30 AM
#25
Yawn 48k, higher than when we started the year, time to say the original question of thread's answered or is that speaking too soon? Wink

Of course given. Smiley I think the accumulation phase, which lasted 2 months, is over and now we are expecting a surge in volumes, volatility and price growth. Bitcoin broke through one of the key resistance levels, thus marking the beginning of the bull run. As Glassnode predicted, selling pressure from short-term investors eased, and bullish faith was still strong, nothing is holding the price back from rising, even the aggravated geopolitical situation. I think we can easily conquer 50,000 and up in the near future. April should be bullish.

Yeah, I definitely buy the volume expectation too, I think there's been more than a few parties/people/institution who have been holding off on liquidation for a while now. First, when they caught the November ATH too late, and then those who were expecting Dec ATH (remember when every influencer was naming 31 Dec) and then now that we're back at that same position, some will have decided to change their mind and wait again for ATH.

50k is certainly going to look like a signal for that. Happy days.
legendary
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March 29, 2022, 04:14:39 AM
#24
Yawn 48k, higher than when we started the year, time to say the original question of thread's answered or is that speaking too soon? Wink

Some Bitcoin analyst has proven that Bitcoin don't have much acceleration or elevation in price this year, and the price will be revolving between forty thousand plus and low thirty thousand plus until the year is out of hand, so anticipating that Bitcoin price regulations can come up between the year or affect the crisis between two countries, from my perspective is not assured, because bitcoin increment is been determined by the demand and supply of market regulations.

Proven? What's there to prove that the market doesn't plainly provide for all to see? 30% gains in the last 30 days, that's not an accelerated gains compared to most other conventional markets?

If that's the best an analyst can come up with, I'm not sure you've looked around enough for youself.
hero member
Activity: 2632
Merit: 546
March 28, 2022, 06:11:07 PM
#23
Bull trend are more possible now, investors are just waiting for the right signal and if the price reach $43k, I can assume that bull is here and the price will start to fly high again. The war is still the reason for holding back, but since peace talk are possible happen and many adoption happened, bull will happen as well.
Some Bitcoin analyst has proven that Bitcoin don't have much acceleration or elevation in price this year, and the price will be revolving between forty thousand plus and low thirty thousand plus until the year is out of hand, so anticipating that Bitcoin price regulations can come up between the year or affect the crisis between two countries, from my perspective is not assured, because bitcoin increment is been determined by the demand and supply of market regulations.

I think it is too early to say if bitcoin is going to be bullish, I also said that a $43k break out is a good indication that we 'might' be bullish. And since the price is going up in the recent days, climbing to $47k-$48k, now the right signal could be move to $50k. And if this is broken again, then maybe the investors are confidence again on the market. But I'm not buying into the bullish signal still, one negative news will bring the market down again.
hero member
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Cryptocurrency is power
March 27, 2022, 04:34:37 PM
#22
Bull trend are more possible now, investors are just waiting for the right signal and if the price reach $43k, I can assume that bull is here and the price will start to fly high again. The war is still the reason for holding back, but since peace talk are possible happen and many adoption happened, bull will happen as well.
Some Bitcoin analyst has proven that Bitcoin don't have much acceleration or elevation in price this year, and the price will be revolving between forty thousand plus and low thirty thousand plus until the year is out of hand, so anticipating that Bitcoin price regulations can come up between the year or affect the crisis between two countries, from my perspective is not assured, because bitcoin increment is been determined by the demand and supply of market regulations.
legendary
Activity: 2534
Merit: 1338
March 27, 2022, 03:35:29 PM
#21
At the moment investors are on the waiting end to see the next move of the trend. There have been no significant recovery after the last dip. We only had a shallow pump in match. For now no speculation on the next move is accurate until a new trend is formed and maintained. All the bullish news trend that was expected to cause a spike made no difference which is an indication the bears aren't exhausted yet.
Bull trend are more possible now, investors are just waiting for the right signal and if the price reach $43k, I can assume that bull is here and the price will start to fly high again. The war is still the reason for holding back, but since peace talk are possible happen and many adoption happened, bull will happen as well.
We are going to have to see if that is true, there have been peace talks but probably one of the most obvious things that two rivals do when engaging in peace talks is to stop fighting each other during the negotiations, otherwise the more resentment there will be among those that are negotiating the peace talks and the more difficult it would be to reach a deal, but this has not happened, which most likely tell us that Putin has no intention for the peace talks to succeed, affecting the price of bitcoin in the process because of the uncertainty.
legendary
Activity: 3472
Merit: 10611
March 27, 2022, 02:51:25 AM
#20
They have been reporting for months that the circulating supply is declining and that there are fewer and fewer bitcoins on the exchanges.
But this does not affect the price.
That's because similar to hashrate, the relationship with price is in the opposite direction. Meaning when price stabilizes and/or market becomes risky and unpredictable (like these days) there will be less incentive for day trades to trade bitcoin ergo they pull their bitcoins from exchanges.

Quote
Also, the tweets of Elon Musk and Michael Saylor that they are not going to sell bitcoin and that now is the time to invest have no effect either.
Evidence has been suggesting that the community no longer pays attention to "celebrities" who make statements about bitcoin specially if this is not their first attempt.

Quote
if there is some kind of impulse, then the selling pressure very quickly nullifies the entire bullish impulse and returns the price back to the values ​​that were before the impulse.
This is one of the main issues preventing the rise back to normal. This is fueled by the increased number of shorts, where essentially market manipulators borrow bitcoin to dump and prevent the rise from happening. It will only stop when their losses surpass their incentive to manipulate. That can take time.

The other big reason is the uncertainty of people who are too afraid to buy bitcoin because of the drop it had and the large amount of FUD they've been fed over the past months.
legendary
Activity: 2338
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CoinPoker.com
March 26, 2022, 11:39:17 PM
#19
(.....)
Bitcoin seems to be stuck in some kind of weightlessness, in uncertainty, or it is deliberately restrained and strong price movements are being prepared for some specific news or event that should happen soon. Who thinks about this?
For me, these past few weeks and now, the price of Bitcoin is normal. Because I can also relate this even on the stock market, even if you will see, most of the markets now are neutral, no huge dumps or pumps same with Bitcoin.
Volumes of Bitcoin to exchanges decreasing is a positive for me, less inflows of Bitcoin to exchange is good for me and more outflows.

Since February I have really expected these kinds of price movements for Bitcoin, more sideways are expected for the coming months.
full member
Activity: 686
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March 26, 2022, 08:56:43 PM
#18
If according to technical analysis, the price of bitcoin is currently still in a safe zone to enter the bullrun again,
it is currently experiencing a decline because at the price of $45000 it is a heavy resistance from Bitcoin,
3 times the price of $45000 has failed to penetrate, I hope this decline is a healthy correction , and Bitcoin can break through $45000 again.

For sure it will happen $45000 will still be reachable by bitcoin price for this month or next month.
Every decline that occurs there will be a reciprocal correction in the future.
member
Activity: 669
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March 26, 2022, 10:32:44 AM
#17
If according to technical analysis, the price of bitcoin is currently still in a safe zone to enter the bullrun again,
it is currently experiencing a decline because at the price of $45000 it is a heavy resistance from Bitcoin,
3 times the price of $45000 has failed to penetrate, I hope this decline is a healthy correction , and Bitcoin can break through $45000 again.
legendary
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March 26, 2022, 08:19:44 AM
#16
Which only strengthens my opinion that it's still retail strength, not institutional, that moves the market, at least in shorter or medium term instances that are more noticeable. These are fundamentals, ever increasing, ever growing, regardless of market situations. The last crash we had, for example, or the last ATH for that matter -- all happened regardless of use, security (hashrate and difficulty), upgrades, adoption, which continue to strengthen Bitcoin with every passing day.

Price support, market floors, I guess are what benefit the most from fundamentals. Whether or not price fulfills potential is still down to average Joe in numbers as he either ignores or is ignorant of fundamentals (altcoin markets also prove this).
sr. member
Activity: 1988
Merit: 283
March 26, 2022, 07:38:36 AM
#15
So long as we maintain above the 50 day average it should mark general bullish action. 
yep, as long as it respecting the 50 day average it will always maintain the bullish trend. But of course since there's no enough demand in the market on this current situation, fluctuation is always expected after making higher highs.

And if this isn't fake news for sure it a big help for the growth rate of bitcoin aside the adoption in other countries. Terra (LUNA) Co-Founder Reveals Massive $3,000,000,000 Bitcoin (BTC) .
full member
Activity: 529
Merit: 101
March 25, 2022, 10:13:57 PM
#14
Since 2021 there is good volume of bitcoin being accumulated. Around the range of $20k institutional investors like MicroStrategy, block, made big accumulation even earlier. Those volumes were still under the accumulation status. Those outflown bitcoin being under the status of hold until now there is parabolic curve formation. Similar parabolic curve formation took place when the price of bitcoin was around $8000. By then there happened bitcoin reaching its ATH. For now this can be a beginning point for a new ATH in comparison to the previous similar incident.

For now it is the institutional investors, small scale investors and the ongoing acceptance and increasing usage is the one that holding back the price.

It's most likely true as you said that this is the beginning of a new ATH for bitcoin price rising back to $55k price.
And now there is also a lot of other growth for bitcoin to rise again like bitcoin adopters in several countries and this is also a sign that bitcoin is increasingly needed.
STT
legendary
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March 25, 2022, 09:38:26 PM
#13
The recent highs for BTC are near to the 50 week average which is not resistance but indicative of a full price recovery from the lows.   We are bullish I think, we had a good reaction previously to the 50 day average as on this chart and its risen since passing that:


So long as we maintain above the 50 day average it should mark general bullish action.   I would not state price action as being held back but developing over time.
hero member
Activity: 2282
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March 23, 2022, 11:56:34 PM
#12
Since 2021 there is good volume of bitcoin being accumulated. Around the range of $20k institutional investors like MicroStrategy, block, made big accumulation even earlier. Those volumes were still under the accumulation status. Those outflown bitcoin being under the status of hold until now there is parabolic curve formation. Similar parabolic curve formation took place when the price of bitcoin was around $8000. By then there happened bitcoin reaching its ATH. For now this can be a beginning point for a new ATH in comparison to the previous similar incident.

For now it is the institutional investors, small scale investors and the ongoing acceptance and increasing usage is the one that holding back the price.
full member
Activity: 784
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March 23, 2022, 07:53:38 PM
#11
I see it not as a restraint but a sustained bullish momentum in the long term... bitcoin has rallied from $34,000, but has yet to see a short term macro rally due to many  intermediate market management measures such as war, Fed interest rates, etc.  Bitcoin has already started to react from demand at $42k - assuming bitcoin now breaks out of the winter bear market and begins its bull cycle again, that's no surprise
full member
Activity: 2086
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March 23, 2022, 05:45:37 PM
#10
At the moment investors are on the waiting end to see the next move of the trend. There have been no significant recovery after the last dip. We only had a shallow pump in match. For now no speculation on the next move is accurate until a new trend is formed and maintained. All the bullish news trend that was expected to cause a spike made no difference which is an indication the bears aren't exhausted yet.
Bull trend are more possible now, investors are just waiting for the right signal and if the price reach $43k, I can assume that bull is here and the price will start to fly high again. The war is still the reason for holding back, but since peace talk are possible happen and many adoption happened, bull will happen as well.
legendary
Activity: 2534
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March 23, 2022, 05:18:03 PM
#9
I believe that people are not sure if this war should impact it the good way or the bad way for bitcoin and that is the problem people are having. I mean it should be looking not so bad, but it should also have some sanction passing methods as well. So, people do not know how to approach it.

Maybe west will hate crypto next, who knows? Or maybe people will love it because of Ukraine donations?

Basically, we are stuck between few thousand dollars and go up and down and there is nothing serious and obvious that would make it go one direction. If it was just one deal, then we would have gone that way but we all know that it is multiple options available right now.
I think this is creating uncertainty in the markets, the possibility of Russia using bitcoin to at least lower a little bit the strength of the sanctions imposed against it represent a risk for bitcoin, as the US and other European countries may use this as a way to attack bitcoin once again and try to destroy it once and for all, so people are nervous about the future of bitcoin and are taking a wait and see policy, which is not very conductive to massive growth.
sr. member
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March 23, 2022, 02:01:21 PM
#8
At the moment investors are on the waiting end to see the next move of the trend. There have been no significant recovery after the last dip. We only had a shallow pump in match. For now no speculation on the next move is accurate until a new trend is formed and maintained. All the bullish news trend that was expected to cause a spike made no difference which is an indication the bears aren't exhausted yet.
hero member
Activity: 1344
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March 23, 2022, 12:48:14 PM
#7
I guess it's a waiting game for investors now, sort of feeling it out, if they see that there is buying around then they will jump on the gun and doesn't want to miss out things. But if the market is what we are seeing right now, then obviously not much is going tot happen. There should be some kind of catalyst that needs to surface to make the investors pour their money again and push the price to maybe $50k at least.
legendary
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Blackjack.fun
March 21, 2022, 10:58:56 PM
#6
Quite an interesting situation. I constantly monitor various on-chain metrics and analytics from major data providers. They have been reporting for months that the circulating supply is declining and that there are fewer and fewer bitcoins on the exchanges. Recently, Glassnote published fresh data that clearly shows that the bitcoin's exchange balance has fallen to record lows in the last 3 years.

I would take the data coming from Glassnode with a ton of salt, they have a long history of really screwing statistics up simply because they want to show you something that they have uncovered, like that time I will never forget where they claimed the Paypal news was the reason for an increase in volume when if you zoom out it was just the usual Sunday-Monday difference at that time.
Second, it might be possible that some exchanges have moved a lot of coins from their addresses to new and smaller more manageable cold storage wallets, for example, Coinbase had,  according to some pretty reliable news exceeded 1 million coins in storage, yet there was no label anywhere on those addresses, nobody knew them, not glassnode not chainanalysis.

But this does not affect the price. She doesn't seem to be affected by any news at all. Reductions in the circulating supply, the adoption of bitcoin in the Swiss city of Lugano also went unnoticed by the market. Also, the tweets of Elon Musk and Michael Saylor that they are not going to sell bitcoin and that now is the time to invest have no effect either.

This indeed is a bit weird, I honestly thought that the Lugano news would fuel up the price a bit more, we were on a trend to erase losses from that crash, there were positive bits here and there that should have succeeded in moving the market. Looking back, the fake amazon news, even with the consequent retracement did push the price higher than all these combined.

I think we're in for a long period of nothing when something really major must happen! But since I'm also more wrong than right on prediction one can get ready for a rollercoaster too.

The global inflation and the war in Ukraine created some kind of uncertainty and many traders are still afraid to take risks.

I think we're looking at the wrong indicator by looking at volume and traders, traders are not long terms holders, they make their profits and they dump it, looking for something else, a better indicator would be the amount of $ flowing into changes, but that's one thing we will never know unless some major one gets hacked.
It might be that the lack of coins on exchanges is actually balancing a low demand too.
Or that simple some traders who were doing arbitrage or scalping are simply giving up and moving to more volatile markets.
legendary
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CoinPoker.com
March 21, 2022, 10:40:14 PM
#5
What is holding Bitcoin back is the high inflation, end of tapering and beginning of fed rate increases. Even today JPow hinted that they might do 50bps rate hikes if required and the stock market took a huge dump and at the same time Bitcoin followed.

Right now it’s highly correlated with stocks. So with more rate increases it will have a hard time going up. Especially with how bad it is with inflation right now. The last rate increase was only 25bps due to the war in Ukraine. If that war never started then the last weeks rate hike would be 50 bps instead of 25.
legendary
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March 21, 2022, 02:32:38 PM
#4
I believe that people are not sure if this war should impact it the good way or the bad way for bitcoin and that is the problem people are having. I mean it should be looking not so bad, but it should also have some sanction passing methods as well. So, people do not know how to approach it.

Maybe west will hate crypto next, who knows? Or maybe people will love it because of Ukraine donations?

Basically, we are stuck between few thousand dollars and go up and down and there is nothing serious and obvious that would make it go one direction. If it was just one deal, then we would have gone that way but we all know that it is multiple options available right now.
hero member
Activity: 2968
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March 21, 2022, 08:04:02 AM
#3
It seems that the stars are aligned for a Bitcoin price pump,but there's isn't any event,that could cause the beginning of a FOMO wave.Such event would be another Bitcoin ETF or maybe some major corporation adopting Bitcoin(just like Tesla,Paypal,Microstrategy,etc.).
A FOMO wave is a situation,in which the BTC sellers stop selling their Bitcoins and start buying and the BTC buyers start buying even more BTC.There is a "snowball" effect in this process,but there's no event,that can trigger this "snowball" effect right now.Greed should dominate over fear in the "Fear vs.Greed" index,which isn't happening right now.
The global inflation and the war in Ukraine created some kind of uncertainty and many traders are still afraid to take risks.
legendary
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March 21, 2022, 06:54:45 AM
#2
Historically, compared to the moment of the last halving, this should be a period when the price goes down without hopes for recovery.
One guess would be that traders are aware and afraid of that possibility, hence overly cautious, no matter how many news-that-should-pump are coming out.
It may be one of the moments when the price can break the known cycle... or not.

The hash rate keeps going upwards and I expect pretty soon the miners look more carefully to the price they sell at and maybe decide to risk and hold.
The currently grim geo-political status is also one of the the moments people distrust fiat the most.

Still, I can't tell what's going to happen next. I agree: everybody seems to look around cautiously and wait to see what's going to happen next so they can just follow the trend.
hero member
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March 21, 2022, 06:37:28 AM
#1
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