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
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Cryptocurrency |OT2| Money's New ERA Shoots for the Moon! | Read OP for Thread Rules
- Thread starter breakYODAy
- Start date
- OT
This has been "happening" every year for the past 4 or 5 years... Aka "china fud"
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 Brandson.
Original tweets:
https://twitter.com/pewdiepie/status/1115651267076947968
https://twitter.com/OfficialDLive/status/1115691156958928896
Original tweets:
https://twitter.com/pewdiepie/status/1115651267076947968
https://twitter.com/OfficialDLive/status/1115691156958928896
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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.
Thanks for sharing your thoughts. Makes a lot of sense to me.
I don't know man, you've been pretty spot on with most of your predictions 😁
Here comes the pump... 5.5k breached.
Edit: well that didn't last long. Word on the street is we heading to 4.6 - 4.8k
Edit: well that didn't last long. Word on the street is we heading to 4.6 - 4.8k
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Low of 159 now. Not a bad call. That might be it before a little bounce but I feel it's too risky for me right now. I want to see how it develops a bit more first.
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...
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 also look at sentiment, data on leveraged positions, and various counter trading signals intended to influence buyers and sellers (like CNBC). While I wouldn't trade based on any of those in isolation, together with what I see in the charts it can make me more confident in my strategy.
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.
I'm also learning all the time, studying my mistakes and figuring out what I missed.
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.
So I use a lot of things, throw it all in the mix, and try to come up with something that makes the most sense to me. I like confluence of analysis all pointing to the same thing. If I'm not confident enough after all my analysis, I tend to sit out and wait.
There isn't always a trade for me right now, but there will be eventually, provided I keep watching.
I feel the same way about this.
i only started lightly dabbling in trading very recently. I don't understand any TA techniques, but I follow a bunch on Twitter and YouTube and make decisions partly based on what they say and partly on what I think/gut feeling. But yeah I sometimes struggle sticking with a plan and not changing my orders
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
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
Yeah, I exited my crypto position on this news. Managed to act fast enough to avoid the stop loss waterfall that followed. My short term projections for eth are all invalidated because of this now. Looking to revisit the lows and possibly see 1.9k btc later this year, which I was expecting anyway, but I think it will come a bit sooner now.
The court documents make for a pretty interesting read. If I understand everything correctly, Bitfinex was solvent until they got screwed over by CryptoCapital, who "lost" their money or something, starting in mid-2018 -- and things turned ugly in October or November when Bitfinex realized (?) they were fucked and couldn't process withdrawals anymore without "borrowing" Tethers from themselves.
What's pretty hilarious is how many people -- or, well, bots -- are now dumping their shitcoins for... Tethers?
Edit: What I don't quite understand is, how transfering Tethers to themselves helps Bitfinex processing fiat withdrawals. I guess they could have used it to buy crypto (big pump happened on April 2nd-4th which would kinda fit the timeline) and then sell that crypto for fiat... but where? And if they sold it off, why didn't it impact the price? Think I'm missing something here.
What's pretty hilarious is how many people -- or, well, bots -- are now dumping their shitcoins for... Tethers?
Edit: What I don't quite understand is, how transfering Tethers to themselves helps Bitfinex processing fiat withdrawals. I guess they could have used it to buy crypto (big pump happened on April 2nd-4th which would kinda fit the timeline) and then sell that crypto for fiat... but where? And if they sold it off, why didn't it impact the price? Think I'm missing something here.
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Hold on to your butts
"Bitfinex Withdraws $89 Million From Cold Wallet as Users Signal Exodus Over Legal Debacle"
Let's see how it pans out. Don't think that this is the final dagger to USDT and the start of market chaos though.
"Bitfinex Withdraws $89 Million From Cold Wallet as Users Signal Exodus Over Legal Debacle"
https://cointelegraph.com/news/bitf...ion-as-users-signal-exodus-over-legal-debacle
Let's see how it pans out. Don't think that this is the final dagger to USDT and the start of market chaos though.
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.
If you decide to continue to trade crypto in the face of a potential slow-dismantling of Tether, consider the risks carefully.
Rode a good portion of the rally, near the top I was about 10 dollars south of ETH hitting 190, which would have gotten me back to my ATH in USD value.
As it stands, I've managed to basically get back to my portfolio value in pure USD from last year this time. Now that Tether is likely going to kill this run, I'm just gonna sit on the sidelines and see how ETH reacts to key price points.
As it stands, I've managed to basically get back to my portfolio value in pure USD from last year this time. Now that Tether is likely going to kill this run, I'm just gonna sit on the sidelines and see how ETH reacts to key price points.
Holy crap, its been 15 months since I sold out and stopped paying attention and we are still watiing for the Tether scam to be shutdown?
Sorry but no. NY AG is not conspiring with Bitfinex for their profit. You can't lose investors money and cover it up with your own other money, and thats putting aside the joke that is a Panama company named Crypto Capitol supposedly losing those control of those funds and the fact that they used Tether reserves to do it.
I can see the argument that this benefits Bitcoin eventually (people dumping tether for BTC) but considering 95% of volume is tether and that there is no way to redeem for cash (usdt dumpers would just be selling to other traders) it's much more likely tether loses its peg through some means or another and that those holding USDT at that time will be rekt because no one will want to buy it from them.
Another interesting point is the excerpt in the suit that points out that stablecoins backed by an agreement could very well be securities. Which makes sense, it's just a token that represents a legal agreement maintained by a central enterprise. It's not much different than a certificate of deposit, it's the company's promises and efforts that give it any sort of value.
I can see the argument that this benefits Bitcoin eventually (people dumping tether for BTC) but considering 95% of volume is tether and that there is no way to redeem for cash (usdt dumpers would just be selling to other traders) it's much more likely tether loses its peg through some means or another and that those holding USDT at that time will be rekt because no one will want to buy it from them.
Another interesting point is the excerpt in the suit that points out that stablecoins backed by an agreement could very well be securities. Which makes sense, it's just a token that represents a legal agreement maintained by a central enterprise. It's not much different than a certificate of deposit, it's the company's promises and efforts that give it any sort of value.
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I don't think those tweets were suggesting that NY AG is conspiring with Bitfinex? Although I've seen that angle presented elsewhere on Twitter.
Shill alert:
Deloitte (largest consulting company in the world) has hopped onboard VeChain and has migrated their certificates from Ethereum to VeChain mainnet.
https://www.linkedin.com/feed/update/activity:6528907937400778752/
Deloitte (largest consulting company in the world) has hopped onboard VeChain and has migrated their certificates from Ethereum to VeChain mainnet.
https://www.linkedin.com/feed/update/activity:6528907937400778752/
Since this is what they have admitted in a self-serving submission, that means, at best, Tether is 74% backed. It is currently trading at 0.9895 to USD on Kraken. If the market was rational, that should drop to 0.74. Since those pegs are likely manipulated, I am not expecting such a big drop until their operations are seized.
Yeah, I'll never touch Crypto again until all this stuff is dealt with.