China might prohibit crypto mining:
https://www.scmp.com/tech/policy/ar...est-cryptocurrency-mining-farms-now-wants-ban
https://www.scmp.com/tech/policy/ar...est-cryptocurrency-mining-farms-now-wants-ban
This has been "happening" every year for the past 4 or 5 years... Aka "china fud"China might prohibit crypto mining:
https://www.scmp.com/tech/policy/ar...est-cryptocurrency-mining-farms-now-wants-ban
ETH retracing to 150-165 in the next week or so before another possible move up seems likely to me.
Would you say that we'll see another low or will the next few moves be the last in this price segment? Right now I'm planning to put in some money in my Coinbase or Bitpanda account again.
My current feeling is that ETH will retrace a bit, to at least the 160's, then move up to the mid-200's. Sometime after that, I see it dropping back to 100 or 80, and possibly making a new low. I expect BTC to hit around 1.9k sometime this year.
Before the 160's retrace, it's possible that it gets to the 190's but I am not taking that risk.
As always, none of this might happen. Trade at your own risk.
Any (price) point where this view will be invalidated? BTC hitting 6k? 10k?
Seems like a lot of people think the market has turned now.
Thanks for sharing your thoughts. Makes a lot of sense to me.The current bottom doesn't look finished given the severity of the bear market. I think it either gets retested at least once more, or breaks. BTC could go to 6k, 8k, 10k, and still come back down. But at the same time it would be unfortunate to miss such a big move up.
I expect BTC to test the 6k region, and possibly break it just to get more retail money, only to head back to 3k. This all could take many months.
If BTC heads to 10k before retesting the bottom, I think it comes back. If it retests the bottom first, 10k would be much healthier.
As always, this is just what I think. The market doesn't have to do anything just because I think it should.
I don't know man, you've been pretty spot on with most of your predictions 😁As always, this is just what I think. The market doesn't have to do anything just because I think it should.
ETH retracing to 150-165 in the next week or so before another possible move up seems likely to me.
Trying to predict when it'll dump and when it will pump, and by how much, is what traders do. Brandson is a trader. And some of us like to dabble in that too, so him sharing his predictions with us is appreciated. And it's not like this thread is getting any action otherwise these days...I mean, it'll dump again and pump again. You know how these things go. :P
Brandson, what TA techniques do you like to use (Elliott Wave, etc.)?
I use a few things. I have had success with fractal analysis, but it feels like voodoo sometimes and many people don't like it when I tell them I use fractals.
I don't like Elliott Waves because people can use them to draw any outcome. Although, the market typically moves in certain ways, consistent with wave movements. So while I would never chart out waves to pick an exact target, the market does often like to move in waves of 3 before correcting, on various time frames.
I primarily use 1D, 3D, and 1W timeframes for my analysis, sometimes watching 4H or 1H, but not usually making trading decisions on anything less than 1D. I observe chart patterns, but don't trade them in isolation. I like tracking more complex structures (fractals) instead. These markets tend to repeat, although there is something of an art in translating a prior pattern to the present. I like RSI a lot. There is so much you can do with RSI beyond just the simple overbought/oversold metric a lot of people use it for. RSI helps me in so many ways. Historical support/resistance levels and regions are also critical. I don't use Fibonacci levels much as I find it easier to just look at the historical levels and trends.
I like to try to think what scenario would screw over the most people in any given situation. Crypto moves by triggering stops, liquidations, panic, and fomo. I like to consider whether there is a good opportunity for any of those things to occur, and if not, what would have to happen to create the circumstances for those opportunities. In markets like this, the masses do not often win. So if everyone thinks something will happen a certain way, that's probably not happening.
Trading is much more than predicting where the price will go. Actually entering the trade, and staying in the trade through endless attempts to shake you out of it is the hard part. Trading psychology is not to be underestimated. It helps to have a plan for what you are looking for to buy/sell, and what would invalidate your theory.
Still sitting on my BTC from 2 years ago. Added XRP once it hit coinbase. And still have my pile of fucking ADC collecting dust!
It might finally be happening
Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege
https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic &&__twitter_impression=true
https://cointelegraph.com/news/bitf...ion-as-users-signal-exodus-over-legal-debacleBitfinex, which has the same owner as USD stablecoin Tether (USDT), has not publicly explained the reason for the withdrawals, which come as both companies face a fresh debacle over potentially missing funds.
Over roughly the past 12 hours, Bitfinex has moved large amounts of bitcoin (BTC) and ether (ETH) from its wallets to unknown addresses, along with smaller amounts of other coins such as makerdao (MKR), online transaction monitoring resource Whale Alert revealed.
There are potentially other legal issues related to Tether and Bitfinex that might come to light if the NY AG indeed receives the business records from Tether and Bitfinex that they are requesting for this investigation. I imagine that there will be considerable resistance to turning over such data and documents. If they get the data, this may very well be only the tip of the iceberg of what is to come.
If you decide to continue to trade crypto in the face of a potential slow-dismantling of Tether, consider the risks carefully.
We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain - we managed to execute 20+ smart contract transactions per second.
This is a massive achievement for our EMEA Blockchain Lab, VeChain and the DNV GL platform. We are #makinganimpact that matters and rolling out blockchain in production.
Cillian Leonowicz
Director, Consulting at Deloitte and EMEA Blockchain Lab Co-Lead
Yeah, I'll never touch Crypto again until all this stuff is dealt with.Can tether and bitfinex finally die so I can get back until the market please?