Looks like the usual shenanigans to me? Flash panic followed by a pump back to previous support, now resistance. It's why I keep saying this is 100% a trader's market now - rinse repeat till the bottom.
The markets did the same thing last time. Monday it will probably erase all those gains and then some like last time too. But then again it could have a better week before it drops more who knows.
My point. There's been lots of calls that BTC is racing to the bottom, yet it holds at around support.
Well, the way I see it is that it's impressive that there are still suckers out there chasing that little dopamine hit of a price rise, even when the trends are so obvious and they're being taken for a ride like the trader crackheads they are.
Another "Satoshi Nakamoto" should launch a new (improved) Bitcoin and never reveal himself to the world. Then people will believe that the ultimate decentralized, uncontrolled, totally independent P2P crypto coin was born and will start buying it. "Business coins" like Ethereum, Cardano, Solana can simply be shut down (the projects yes, but I know there will be a bunch of coins circulating around the world already). Their creators can be taken to Guantanamo for "vacation" and that's it! Watch out for the next CBDC. Will it be Chinese, American, Russian? Saudi, Indian, European Soviet Union coin perhaps?
I need coaching on the libertarian perspective here. Is decentralisation and freedom of speech compatible with throwing scammers in the slammer and/or tortured? OR does it just warrant a greater degree of caution for the unsuspecting investor?
Don't let your eyes of the market if you're interested in a buying opportunity. If 10-11 k will be the bottom, it will prolly last just a few days max. I don't even think it will take longer than a week to bounce back from there. EVERYONE considers that the BIG BOTTOM. Tits are bearish, bottoms are bullish. As for the global economy, energy crisis, the war... I think it will not "return to normal", we can only hope there will be some form of new stability. Until then, the more things shake, the more people will run away from volatile assets (or pseudo-assets) like cryptos or shares.
I dont know where capitol would flow from and especially after this crash its had. Why would btc diverge from the Nasdaq and start going up at 10 or 11k? Its going to hit that level for sure now with nothing to stop it but doesnt mean it stops there of course. Will be interesting to see if it holds!
I don't see the point of "exchanges", since so many soft wallets and hard wallets allow exchange and purchase of crypto. So, why would people use CENTRALIZED intermediary companies for swapping, trading crypto? More so: why the hell do people have to UPLOAD (store) their coins on the exchanges? (yes, I understand very little about the crypto market, but curious and still learning, reading about how this works)
I got myself lost in understanding cryptos correlation with stock markets and/or commodities (PM's especially). It seems like it's just buzzing around like a crazy fly. It also seems like this market has no rules (forex technical analysis is what all "experts" use, but this market is a lot more volatile, unstable than forex). It might not stop at 10-11 k. It might go to 3 k, some say. And I can believe that IF the global economic-food-energy-political crises keep continuing like this. I think cryptos are good during a PEACEFUL environment, where pretty much everything is OK, people don't feel danger (because then they'd rather buy food, a house etc.). No-one knows where it stops. What I am watching now (beside the price) are: 1) MARKET SENTIMENT (yes, the FEAR and GREED index) and what "experts" (no, not the permabulls) say about where it will go: https://alternative.me/crypto/fear-and-greed-index/ 2) The LOGARITHMIC growth scale - see how it dips, whether it diverges too much: https://www.lookintobitcoin.com/charts/bitcoin-logarithmic-growth-curve/ If I look at the logarithmic scale, then 3-4 k bottom (around 3,700 $) might be the lowest possible level. But I think it'll bounce back fast from there. DCA-ing from 10 k downwards might be a good idea. ONLY if you have excess money to throw out the window (like funds for gambling and to try your luck with). I am saying DCA from 10 k downwards, because it'll bounce up fast if 3-4 k will really be the bottom. Where the funds will come from if it goes that low? -> 1. it's important what the big fat (and ugly) super rich do: they always have some funds -> 2. other funds will come from those who sold high -> 3. and even more funds will come from those who sold on other markets (commodifies, forex, real estate...): they cash in and move into crypto
Funny thing, while all this shit was happening with FTX, London was having a Crypto conference. Investors and developers are very much in tune with the long term of the industry and eco-system. Everyone realises that regulation will be hit pretty hard now that a big exchange has fallen. Most want regulation for VC's to come into the space. Until regulation takes place, it will be a slow grind. But it's not the end of the game. I see this as an opportunity to clean out some of the dead wood. From what I have read, SBF had this well planned from the start. His contacts and associations with the Democrats, Garry Gensler, the CFO who was a convicted poker cheat and his ex-girlfriend made CEO of Alameda. She looked as though she couldn't tie her own shoelaces, let alone run a multi billion dollar company. The hack after FTX and Alameda was liquidated. Then the great escape to the Bahamas where Sammy boy is holed up in a well fortified compound. It will make a great Netflix series as further chess pieces fall and more gets unravelled. Much more exciting than Do Kwon with Lunas fall from grace.
'I don't see the point of "exchanges", since so many soft wallets and hard wallets allow exchange and purchase of crypto. So, why would people use CENTRALIZED intermediary companies for swapping, trading crypto? More so: why the hell do people have to UPLOAD (store) their coins on the exchanges?' The “exchanges” built into wallets are exchanges. Many types of wallets – dating back a half a decade – have Other Stuff built in: chat rooms, internal email, a ‘portal’ to exchanges. Why do people have to upload their coins to exchanges? Well, in order to use those exchanges. Now, to keep this post under 10,000 words, here’s the nitty gritty: ‘centralised’ and ‘decentralised’ is enormously more complex than just the one or the other, than just ‘You’re a dingleberry if you upload your coins in order to trade.’ (and as usual, mmm…shiney’s answer was good). There are issues of KYC/AML<>libertarian values, security, design, interoperability, speed, volume, availability of trading-pairs, trading fees, depth of order books, standing/non-standing orders, idiot gullibility vis a vis The Latest Thang, slippage, UTXO/non-UTXO atomic swaps, mandatory reporting, quality of GUI, and associated development initiatives. (OMG! If only someone could explain all these to us!)
Gee -- what's this? Well, it's a screenshot of an atomic-swap DEX. It's unique in cryptos, a mile ahead of the crap-design Latest Thang sites like PancakeSwap, where you blow your dough on fly-by-night tokens. I understand about 5% of AtomicDEX -- okay, maybe 3%. But see the little green dot at 0.062? That's my atomic-swap order for 100 BLK for 6.2 KMD.
Christmas-Bitcoin-Price-Guessing Competition. Since 2014. Post your bids. The prize is kudos. You can change your bids. Guesses close on Dec. 10
