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Bitcoin / Cryptocurrency Discussion (And Predictions)

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Anything related to bitcoin, crypto, blockchain

Coalission

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But that isn't what a bubble is. Clearly Homes/Real Estate have value, so do internet companies, and so do tulips. A bubble is when the price of something is way higher than the actual value and eventually the market corrects itself with a dramatic drop in price.

I don't believe bitcoins are worth more than 1 grand let alone 7.. I also believe most people buying are only in it to make a quick buck. This happens in a lot of bubbles. This has also artificially raised prices dramatically while more and more people hop on the bandwagon. Once all of the 'get rich quick' buyers have bought and want to cash out there will be nobody to sell too. This will cause a dramatic crash in price as everyone panics to sell.

If I were you I'd take advantage of this bubble and sell high while people are still buying. Sell all of your bitcoins now because this is too good to be true in my opinion.

But I could be wrong.

Crypto will go through bubbles and crashes again and again, you'll be right temporarily, and then for the next run there will be the next group of critics, until eventually Bitcoin is over $1,000,000 and its mostly owned by the government who uses it to back their USD infinite supply shitcoin that they made you trade in your Bitcoin for after making it illegal to own, assuming China doesn't buy it all up first. "Gold confiscation" ring a bell?

Zoom into the price history of Bitcoin and you'll see a lot of this:

nubBRWp.png


At the end of the day, the only chart that matters is this:

Ob3vLQn.jpg
 
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James Fake

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November 10, 2017 Predictions This Week:

Bitcoin: I wasn't able to get to this forum quick enough today to post but I moved all BTC to fiat this morning via mobile. Then moved everything to Litecoin.

It survived the initial "dip" but panic sells has jump started the long due market correction. I am predicting it will continue to drop every day to mid $6000s. At that point, I'll shift all from LTC to BTC.

Litecoin: All the signals call for a big bull run in the upcoming week or two. With Btc falling; I think it's almost a guarantee to ath of $80+

Eth: Im hung on Eth at the moment. I think the potential on capitalizing big on LTC is priority opportunity for me. I do have my trigger finger ready if any news leaks on Eth having to create another fork to unlock a stuck wallet. But not going to front due to speculation.
 
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James Fake

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What do you think about bitcoin cash investing?

Me personally; I think it's a huge gamble. A gimmick played by the big whales banking off news of Bitcoin Classic shutting down; they are pumping prices, waiting for folks like you & I to go in, then dumping for quick huge profits. They will then go back into BTC in the next days or so at it's lowest point in correction dip.
 

James Fake

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I mentioned mid $6000's for Bitcoin correction drop yesterday.. I think the new floor may be mid to high $5000's since it broke through $6500 which was the hardest imo to drop below.
 
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mike24601

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The Dot Com era was a bubble, but look at what was created and funded within that time. What companies came out of that? Google, Amazon, Facebook (kind of... Myspace anybody?), etc. Yes there was tons of flops, and yes, the market crashed. But it didn't mean that there wasn't great technologies and companies being created in a completely new space.

Part of the fun is wondering if you're buying into the next Google or the next MySpace when the select few coins survive into the next decade. Let's find out I guess.
 

TKDTyler

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Litecoin: All the signals call for a big bull run in the upcoming week or two. With Btc falling; I think it's almost a guarantee to ath of $80+

What kind of signs are you seeing besides the BTC craziness? I'm not too versed in LTC news as of late since I had no investment in LTC
 
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WadeBoggs4

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I read this article recently from a crypto hedge fund backed by a lot of institutional money and thought it was really interesting. I'd love to get everyone's thoughts on this.

How Could an AltCoin Win? – MetaStable

Changed my views on quite a bit, even if it's an older article. I just see so much more potential in ETH and other protocols that have a definitive use case. I frequent Crypto meetups quite a bit and it definitely seems like most of the developers are moving to ETH by learning solidity, etc. Bitcoin seems forgotten.

Even for financial transactions, I can see more use in an anonymous protocol, whatever that may be. Most people don't want their financial history made public and there are some real benefits to a currency being fungible, in my opinion.
 

LeoistheSun

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Maybe I'm hallucinating here, but bitcoin is unregulated. Whats stopping the govt. from blocking the protocol like they do with torrenting? The fact that ISP's own the traffic means they can do WHATEVER they want to do...

Its got some serious drawbacks.
 

James Fake

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Maybe I'm hallucinating here, but bitcoin is unregulated. Whats stopping the govt. from blocking the protocol like they do with torrenting? The fact that ISP's own the traffic means they can do WHATEVER they want to do...

Its got some serious drawbacks.

By the time the government does that; BTC will be in late majority adoption.. Market doesn't take to censorship too well in the US. Government will comply because politicians like to get votes.
 
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LeoistheSun

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By the time the government does that; BTC will be in late majority adoption.. Market doesn't take to censorship too well in the US. Government will comply because politicians like to get votes.
Pretty sure The Fed Reserve doesnt like competition. Of course I'm being a pessimist since I was there when it was $1 running a mining-pc in a group...
 
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James Fake

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Pretty sure The Fed Reserve doesnt like competition.

Again; this thread wasn't made to try to convince people to be progressive about Bitcoin. No matter what my points are; you'll find an ultra-conservative counter-argument.

Just remember; this thread will be here 10 years from now. We'll see what wins out..
 

James Fake

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What kind of signs are you seeing besides the BTC craziness? I'm not too versed in LTC news as of late since I had no investment in LT

Great question, a few things:
(All alts took a hit & may continue to until BTC balances out, but once it does, this same predictions apply below). From a technical analysis standpoint:

1) It's due for an outbreak. Just like Bitcoin was due for a market correction which most people agreed on, the opposite can be true too. LTC hit it's resistance point by breaking $55 and stayed above it every day since (this was before BTC's fork was called off).

2) It's growth has been very consistent, slow, and almost always up. I compare it's current state to an earlier version of Eth - See images!

graph.jpg

3) It recently got added onto one of Korea's biggest exchanges and also one of only 3 offered by Coinbase (which is pretty much going to get 90% of any new investors coming into the game 2018)

It's young, it's packed full of being a better tech for currency purposes. Even if it can never get over the "second to BTC cause Gold is better than Silver" branding; it's $55-65 is wayyyyy under-valued compared to "Gold".
 
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mike24601

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It's young, it's packed full of being a better tech for currency purposes. Even if it can never get over the "second to BTC cause Gold is better than Silver" branding; it's $55-65 is wayyyyy under-valued compared to "Gold".

Interestingly enough LTC and BTC model the price disparity of real gold and silver almost spot on right now. Hope that changes cuz I wanna make $$$
 
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James Fake

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Important Update: November 11, 2017

Short Moral: Hedge NOW by selling half your BTC and buy BCH. (sorry @Max Gambit !) -or- Buy as much BCH as you can.

Bitcoin Cash (BCH) is a Major, Major threat right now (at time of this post: BCH @ $1750, BTC @ $5900). And BTC isn't going through your typical "market correction", its going through an entire possible flip. So it's not going to act like a normal market correction, so no financial mumbo jumbo really applies because nothing like this has happened yet in the Crypto (or Stock world that I know of).. So basically; the standard practice of holding may not be the safe route here.

Here's Why:
So initially I thought BCH was just a pump & dump by whales who are mad they lost money with the 2X fork. But.... if or if not, the whales have no reason to dump and go back to BTC.

Why? Because BCH has more hash mining power now. And BTC has less and only falling. Miners get way more profit from BCH coins and they see BCH is possibly flipping to overtake BTC. No reason for Miners to go back to BTC for a long time. Causing BTC transactions being stuck in the pipe with crazy times.

And internally; BCH's tech (made in 2017) is better than BTC (created in 2009).

So BTC will continue to fall to (what most that still think its a market correction is going to be mid $5000s) and BCH will continue to rise (let's say it matches BTC's drop amount) hitting possibly ~$2700 or more. Now the only thing that BTC has to hold BCH off is literally it's price in which BCH is already worth 50% or more with way more mining fire power, tech, and consumer confidence. Then things will get really interesting, but who knows... may come to complete $3000 vs $3000 face off or BCH takes over.

Make your hedges or gamble now before the rest of the majority of investors finally see what is happening!
 
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James Fake

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November 13, 2017 Update:

Ethereum on the verge of a break out from it's triangle (it's already moving up but it should be plenty amount of bull run left since this is the beginning).. I am moving 100% over for the rally for the next few weeks.
 
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TKDTyler

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November 13, 2017 Update:

Ethereum on the verge of a break out from it's triangle (it's already moving up but it should be plenty amount of bull run left since this is the beginning).. I am moving 100% over for the rally for the next few weeks.

Glad I stayed awake.

Its crushing that $330 sell wall right now. 4k to 1.5k buy orders in less than 2 minutes. What's this volume from?
 
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James Fake

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Its crushing that $330 sell wall right now. 4k to 1.5k buy orders in less than 2 minutes. What's this volume from?

Some saying it could hit double it's price at $600.. but I'm not so sure. Gonna watch the rally to see where I should put my stop limit order in at.
 

James Fake

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Just started reading into this and learning more about these guides. CryptoNick on Youtube is awesome by the way.

I haven't read deep into his content but just skimming by, be careful with anybody that keeps pressing for services via affiliate commissions!
 
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James Fake

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November 14, 2017:

Eth definitely broke through it's first resistance at $330. It will continue climbing until $370-380 where it will hit another resistance line. From it's history; this is the third time it's done it. Forgive me as I am not a super-hardcore trader, but I don't know how many exact 'waves' it takes to break through but something in my gut tells me, this third time is the charm. =)

Of course; use caution as it approaches this range.
 

daru

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Folks. Just remember that these are guesses and speculations before you put any life savings into this. One cannot predict the future. Black swans and all that.
 

MrYoshi

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Folks. Just remember that these are guesses and speculations before you put any life savings into this. One cannot predict the future. Black swans and all that.

Completely agree. I also have to say that CryptoNick does seem to rely heavily on BitConnect and all his subscribers give him shit about it since they don't have a large enough following to do well with referrals. I looked into it a lot yesterday and DataDash and TheChartGuys are two great resources if anyone wants to jump into this space a bit more.

DataDash - DataDash

TheChartGuys - TheChartGuys
 
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Vigilante

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I did set up a Coinbase account, and dropped some money into ETH and LTC.

The app makes it pretty easy to watch the movement 24-7. Interesting.

Looks like BTC had a nice resurgence after the pullback. Super volatile.
 

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