Topic: Global Crypto Bear Market - page 6. (Read 6707 times)

The flaw in your thinking is that Bitcoin is in a bubble.

Where's the enthusiasm?

The euphoria?

Exponential growth? x10? x20? x30?

You want to see a bubble, look at alt coins, especially ETH.

We have a long way to go, unless a chain split happens...

Time for some quality technical analysis.

2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png

2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png

This is shitmarket. Honey trap for people who are greedy enough to invest in coins and project without any serious background o premise.
For most ICOs word 'blockchain' is only a buzzword, for companies completely outside the blockchain area.
They will use the name "blockchain",  as a keyword to raise capital without need to comply to traditional securities regulation.

Just because you don't know how to do it properly doesn't mean that it fails to function effectively. That's like blaming a television for being defective because you forgot to put batteries in the remote.

Your TA meme analysis does not work. Technical Anaylsis is bullshit.

FTFY

This is good to refill on those cheap BTCBTCBTC

what you are saying about altcoin hype leading to bitcoin rise makes sense but i can't wrap my head around one thing.

lets assume your scenario was right.
people buy bitcoin with fiat and bitcoin price goes up.
they use that bitcoin to buy altcoins, so altcoins prices go up in alt/btc market.
then they stop doing that and take the bitcoin + profit and sell on btc/fiat market and price crashes.

this is what you are describing right?

but here is the thing. i see two types of altcoins, those on top which have both alt/btc and alt/fiat market and those small coins.
the small coins don't really get new money, it is a fixed amount of money that travels from one to the other and never exits other than from time to time the pumpers taking out the profit only. so i don't see this affecting bitcoin price that much.

about big altcoins if what you say is true, their prices in alt/btc market should drop because as we said people stopped using the BTC they bought in day 1 and now are selling that. but this is not happening!
for example LTC/BTC price has gone up about 10%
ripple went from 9K to 11K satoshi
NEM is still around 7700-8000 with little drop
ETC is still the same
Dash is still 0.066-0.067
ETH is probably the only one that dropped a bit.

in my opinion this shows the BTC has not left altcoin market for some reason it is the fiat that is exiting because all the altcoins i named are dropping hard in fiat value.
ETH -16%
XRP -13%
NEM -15%
LTC -6%
DASH -13%

Remember 2013 between the bubbles...  price fluctuated between the last ATH of 160 dollars to around double that number before finally breaking out into a new bubble.

If history repeats itself over an extended time line, we could see fluctuations between 1 and 3k USD for another year.

Definitely agree on the point that there's a lot of newbies throwing money on Bitcoin without knowing anything. My neighbours cousins friends grandma just invested in Bitcoin due to what I said, does not seem to make a lot of sense but it is what it is.

As for August 1.. We are definitely in for some interesting times ahead of that. I believe we will go slowly up, but it could, as you say, go either way and the brakes could come off without a brick wall in sight.

Time will tell, as with all things.

Price overall in crypto has been rising a too fast as of late.  Too many newbies who don't understand the tech or the cycles ("weak hands") bought in, and so the correction at the peak is turning into a bubble pop for the whole market.  Not the end of crypto or bitcoin by any means, but not surprising.  Weak hands are in it to make a quick buck, and are far to skittish to handle the crypto markets.

Once the market finds a bottom, I expect experiences Bitcoin trades to buy back in at a steep discount.

Nervousness could also be triggered or affected by the approaching August 1 UASF, and again, lack of understanding of markets magnifies this effect.  Going to take  while to settle down after that date, no matter which way it goes.

Correction for 2 week  That can easily push price to below $1500 support level, I think we will see some green candles by tomorrow morning and price might stabalized with some buy support at $2500.

Correction's are fine but I really don't want to see the bitcoin price fall much more than it already has over the last 2 days.

That's fkt up. But thank you.

It's still rather unnerving though since BTC value is going back to the values where I first started. I guess I just happened to get into the scene whilst everything was in the middle of a huge wave.

Wouldn't the nearing of Australia's adoption help get it back into an uptrend though? Or is this somehow just a good preparation for it to be bought for cheaper prices?

this - https://en.wikipedia.org/wiki/Denial-of-service_attack

applied to an exchange so no one can trade, but sometimes insiders still can.

I'm rather new to btc. can anybody be kind enough to explain what a "exchange ddos attack" is?

Also I'm very glad to see allot of members still sane despite the sudden drops. If this happened 1 month ago, I'd probably have just sold everything and quite BTC all together. It just so happens that I took a leap of faith, and read enough information here to somehow convince myself to mostly hodl in the long run.

Definitely due to the hype around alts right now. I never really understood the run up to almost $3k after the fact that ETF got denied.

I agree with you that Scaling needs a solution. Quickly. Perhaps if all the big shots could stop being egotistical power hungry children they could solve it together. Guess we'll have to wait and see what happens with the Forced SW and perhaps imminent HF.

Do you base that on a gut feeling? Why 150%? Why not 10, or a decrease of 50%? How do you come up with these numbers?
How do you know it will not last longer than two weeks if a bear market has actually started to take hold - as it appears?

IMO prices will hit 150%  rate per year soon. We are in correction mood and it will not continue more than 2 week.

Bright side. We are still up 120 percent for the year. Name me anything in the stock market with a performance like that!
Also the blowhards slamming bitcoin and touting ether as the darling of the crypto world can now take a seat as they have taken a hit as well