theres also korean news on the horizon, they pre empting a favorable decision https://www.forbes.com/sites/billyb...-looks-to-nuture-cryptocurrency/#2dfe6f817411 80% of bitcoin buy power comes out of asia, not sure the eft plays that big a part but like most things crypto, who knows.
Do you think Bitcoin ETF will be buying/selling real Bitcoins at the back end? Or is it just going to be some derivative of the Bitcoin price?
I agree, i don't think the ETF's are the driver either, but like you said, who knows. Well i guess all the youtube guru vlogers know
Why do you have to see the bottom, isn’t the best time to buy when it is bonifide bubble. though this does look another another dead cat bounce based on volit8lity. I plan buying 20 maybe more, when btc slowly builds steady 10% a month increase over six months or so.
Looks like the last phase of the crash is about to begin. Hope this is the big one that flushes out all the crap.
I'm going to predict the bottom at around $110 billion total market cap. Market is still too over heated for my liking. What does everyone else think?
I guess it comes down to how much you think BTC dominance would be As of now MC is 208M and BTC is 105M at 50.5% dominance If dominance gets to 55-60% of a 110M MC then that would have BTC at around 3k I'm not sure it will drop that low, but it's dominance could certainly go above 60% which changes things I hope we don't get to 110M, so I'll try and be a little optimistic and say 175M, but I do hope that we see a lot shitcoins get flushed out
Have any coins actually completely failed and gone to zero yet? I'm kinda surprised so many stick around. What would it take for a coin to become practically worthless?
I think there is always going to be "fanboys" or similar for every coin in existence. When a coin is worth next to nothing people just say "Well I might as well just hold it because there's no point selling" but they'll likely never ever be worth anything. You'd think that at some point there are going to be hundreds and hundreds of coins with market caps of next to nothing, but not zero
That was my thinking as well. There will always be people willing to buy a million coins at 0.1 cents each just for kicks.
So when total market cap gets over $1 trillion in the future, does that mean there was never a crypto bubble at the end of 2017 beginning of 2018?
Hey, SliverDJ. 'Have any coins actually completely failed and gone to zero yet? Answer: thousands and thousands! Look up the 'necronomicon. list of dead altcoins' on Bitcointalk.com. That list had been abandoned even before the launch of Eth et al. spawned who-knows-how-many 'smart contract' coins, certainly three or four thousand. The failure rate of alts has thus far been roughly 95%. 'What would it take for a coin to become practically worthless?' Posts on the community's threads dwindle to nothing. The volume on the crypto's exchanges likewise (and the buy-sell spread becomes insane as this happens). Then the wallet stops working. Here's an example: https://www.dobbscoin.info/ And you guys will see that I am trying to make my bones on this site, So: if you think cryptos have a future, you learn to pick a crypto that is way down in price/volume, but has good prospects. Then you get accounts on its exchanges, and a wallet, and some Bitcoin as 'fuel' for the project. Then you join its community, to stay abreast of events. Now, the Bottom-Line Rule here -- it's surely the same for bullion markets -- is that you can't trade on volume that isn't there. You can only trade vis a vis the volume that exists. Okay. Then you start trading the coin in question. For a couple of thousands bucks, you can sometimes buy a serious chunk of a crypto. Then you just sell madly into every spike, and buy all you can when the price drops. And if you stick with it long enough -- three or four years -- you can make a lot of money.
Bubble? insane bubble!! B u t . . . 'bubble' is a term suggesting 'ultimate collapse and demise,' like the tulip mania. The reality of cryptos is that it is a powerhouse technology emerging at the right moment in history, and doing so in the face of stiff establishment resistance. But the more immediate context is the lack of regulation. Cryptos are presently, so to speak, a 'loophole' in the global financial system. So crazy s##t is going on there. Hence extreme volatility. But no 'ultimate collapse and demise.' Ain't gonna happen.
I look at Crypto like I did the Tech boom/bubble/bust of late 1990s/ early 2000s -> Cisco, Microsoft, Amazon and Intel all tanked BUT thousand of other Private or Publicly traded tech companies disappeared etc But it took 9 years for MS to surpass their tech Bubble high in the late 1990s, 11 years for Intel and much longer for Amazon
