Crypto reclaim $1 trillion marketcap. A good sign

Symmetrick

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

There is nothing good in this, as, in other things, nothing bad. This is not a signal or a sign, it's just everyday life. Yesterday it was, for example, 980 billion, and today it has exceeded a trillion. What does it say about what you wrote? Well, of course not. This only means that a little more money was brought into the crypto market than was withdrawn from it. But does this mean that now the market is waiting for prosperity? Of course not, because this money can be poured into the crypto market for short-term speculation, but globally, as there was a bearish trend with an emphasis on total sales, it remains so.

It's like looking at the capitalization of bitcoin, and if it increases by 3 billion today, this does not mean that a bullish trend awaits us ahead, since tomorrow the capitalization may become less by all 20, etc.

justdimin

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. The fear and Greed index also moving to positive side.

An increase in the market cap can be a good sign that people are now coming back into crypto again, so it's also normal that the fear and greed index are slowly turning into green now. Not only to the hodlers but everyone that is involved in this space are benefiting of this small pump we are feeling right now but it's just that hodlers can gain more in the long run because they keep on stacking and then they don't sell from time to time but they will only sell once btc reaches its highest possible value.

Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market.

So, reddit finally joined the nft bandwagon, but aren't they late for this? Nft's are now slowly going down. And no, this was not the cause of the recent surge.

mk4

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

The fear and Greed index also moving to positive side.

Which.. is actually mostly a bad thing (fear and greed index not being an accurate gauge aside) because it means that people are starting to get too bullish again; and then next thing you know, markets are going to get frothy again at some point because of overleveraging.

Tellek Garing

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Quote from: hugeblack on July 22, 2022, 08:01:00 AM

Quote from: Tellek Garing on July 20, 2022, 02:28:52 AM

The word market capitalization in cryptocurrency market refer to all the coins and tokens capitalization . Many of us making comments are not traders but commenting to have posts count for the campaign. Bitcoin is now above $23000 and that was what I was referring to when opening this thread yesterday. Crossing $1 trillion again is a good sign at this bearish market. Long future traders are happy has a lot of bear positions as been liquidated in the past five days.

What I am trying to convey to you is that market capacity is a misleading measure if it is associated with all tokens/coins, as these tokens/coins can easily create millions of unreal market capacity by manipulating the quantity supplied while ignoring the effect of demand, something that does not happen in Bitcoin due to the proof of work and the limited number of Bitcoins.

So one trillion for bitcoin is a good signal and one trillion for the whole market is meaningless.

OK boss. I now understand the area you are coming from and my views was on the over all market conditions for some days using the available data. In case I said anything hurtful? Please let go as we are just saying the same thing from different views. Coins like ethereum, doge, litecoin still have really market capitalization and as a trader we use data and metrics from those markets to analyze the market.

stompix

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Looking at the top 10 coins, oh god...

Three of them totaling 140 billion are "stable" coins, two are centralized garbage (BNB and XRP), and another 60 billion, one is a meme coin worth 10 billion.
just scroll down a bit and I saw another Shiba face so, not even bothering looking at the rest!

Quote from: Tellek Garing on July 20, 2022, 02:28:52 AM

Bitcoin is now above $23000 and that was what I was referring to when opening this thread yesterday.

When you opened this thread you somehow miraculously managed to forget everything about Bitcoin and didn't mention it even once, but you took your time to mention some garbage nft that uses some garbage protocol and claim this is what caused the "bullish" wave when in reality nobody cares about those shitcoins.

Quote from: Tellek Garing on July 20, 2022, 02:28:52 AM

The fear and Greed index also moving to positive side.

Another thing that didn't happen:

hugeblack

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Quote from: Tellek Garing on July 20, 2022, 02:28:52 AM

The word market capitalization in cryptocurrency market refer to all the coins and tokens capitalization . Many of us making comments are not traders but commenting to have posts count for the campaign. Bitcoin is now above $23000 and that was what I was referring to when opening this thread yesterday. Crossing $1 trillion again is a good sign at this bearish market. Long future traders are happy has a lot of bear positions as been liquidated in the past five days.

What I am trying to convey to you is that market capacity is a misleading measure if it is associated with all tokens/coins, as these tokens/coins can easily create millions of unreal market capacity by manipulating the quantity supplied while ignoring the effect of demand, something that does not happen in Bitcoin due to the proof of work and the limited number of Bitcoins.

So one trillion for bitcoin is a good signal and one trillion for the whole market is meaningless.

Reid

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And almost half of that is from Bitcoin. Yet, some says it's a good sign for the whole crypto market. I don't agree.
Some altcoins like memecoins also takes a part of it while they don't really have use case.
We cannot say it's a good sign just by looking at it, it would be better if we look at each cryptocurrency individually especially their projects behind it.
It's not always about the total money being counted.

adaseb

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Yes crypto seems to be recovering and stocks are also recovering. Tesla had earnings during and is up 10% and Netflix lost like 1M people and still stock went up.

CPI was horrible but last week spy finished positive and bonds are stable which means that people are assuming the fed will raise rates a few more times and then begin to cut them.

Also the hint here was the price of crude oil which dropped. Now most likely CPI prints will be lower than before.

Mr. Magkaisa

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

Maybe for others that can be a good sign but for most it's not, just like me, why? because have you forgotten that the market is so volatile that its prices can fall quickly and can also rise and no one knows when that will happen dude. It is still difficult to compete, it is still good to be wise and careful in what to do as a holder or traders in the crypto industry.

BobK71

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

Such small bullish trends often lead to large losses. So investors should take some more time and should wait for next signal. The market is now bullish but the confidence has not returned yet so it could go down again. The current cryptomarket capitalization is $1.11 Trillion which is growing slowly.

jrrsparkles

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

When it happened previously there was positive but now this happened just because someone printed token from nowhere which boosted the total marketcap value but its very difficult to keep the NFT value at the same range for long term so I don't think we get any positivity from this happening.

Tellek Garing

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Quote from: hugeblack on July 19, 2022, 01:08:43 PM

It is the market capacity of the whole market and not for Bitcoin, which is very misleading because many of the trading volumes in alternative currencies are unreliable due to the change in the quantity supplied according to the developers and the change in demand for it, which is related to Bitcoin.
So it is not a good indicator to rely on for building analytics.

The word market capitalization in cryptocurrency market refer to all the coins and tokens capitalization . Many of us making comments are not traders but commenting to have posts count for the campaign. Bitcoin is now above $23000 and that was what I was referring to when opening this thread yesterday. Crossing $1 trillion again is a good sign at this bearish market. Long future traders are happy has a lot of bear positions as been liquidated in the past five days.

Bitcoin_Arena

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization!

Well it happened a few days ago if I recall properly when Bitcoin was entering $21K but to me total market cap means nothing if project or token owners are just going to mint billions of tokens out of a thin air. At least for Bitcoin, you get to realize that the process of putting a few Bitcoins into circulations requires a lot of investment and energy.

milewilda

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

All of those positive things turns out to show up that this might be the indication for this market to have some reversal but still not an assured thing to happen since this market is totally unpredictable.
If the market had reclaimed that $1T marketcap then its good but we shouldnt really be that confident that this would go head on continously.Expect the unexpected and mind off that this wont
really be a smooth sail ride as always.So better position yourself if you do see that this might be a possible bottom price or something that we cant really see these levels on upcoming years to come.
So as an investor or trader then always set out risk limitations and proper planning with your investment and capital.

hugeblack

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It is the market capacity of the whole market and not for Bitcoin, which is very misleading because many of the trading volumes in alternative currencies are unreliable due to the change in the quantity supplied according to the developers and the change in demand for it, which is related to Bitcoin.
So it is not a good indicator to rely on for building analytics.

hd49728

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Quote from: Tellek Garing on July 19, 2022, 02:40:42 AM

I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders.

You are misusing crypto marketcap. A high or low number of crypto marketcap does not decide its contribution to society. If you consider it like this, it means society actually receive true value from all crypto projects. In fact not all crypto projects contribute real values to society.

Their marketcap can be multiplied 10 times, 50 times, 100 times and can be divided quickly too. So crypto marketcap does not have real contribution to social marketcap.

Quote

The fear and Greed index also moving to positive side.

Not positive man.

Oshosondy

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Crypto market is highly volatile, because it hits $1 trillion marketcap again does not mean it will not get below that market worth again for now, crypto is not yet matured to the extent that the crypto marketcap will not get below $1 trillion again, maybe it would be mature above that after the next bitcoin halving. We should be mindful not to fall under bull trap this time.

Tellek Garing

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I just checked on coinmarketcap now and discovered that we are above $1 trillion again in market capitalization! To me this is a great sign of good things to come especially to holders. Reddit's nft may be a game changer this time around as they used polygon network to louch the Nft and since this news hit cryptocurrency space we have been seeing bullish momentum all over the market. The fear and Greed index also moving to positive side.

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