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Bitcoin / Cryptocurrency Discussion (And Predictions)

AArora

Bronze Contributor
Aug 2, 2017
102
126
140
39
USA
There's too much money to be made for them to ban it. You can see major companies, like Goldman, Fidelity, Bakkt (whom is owned by ICE, operator of NYSE) and their hopeful ETF/401K crypto investment. China is still out of the scene for now, but allowing crypto companies to still operate within the country if the follow their rules.

I'm not invested in BTC. I currently hold 5 different coins, 3 of them are from China. Reason being is that they are solving legitimate, commercial problems and are designing the platform to comply with governments, especially China's.
Which ones


Sent from my iPhone using Tapatalk
 

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DrWumbo

Contributor
FASTLANE INSIDER
Sep 22, 2016
72
76
123
21
Everyone keep an eye on BTC hashrate. The fall below 350 is eye catching. If it stays there too long expect even more of a downward price movement.

Again, my current analysis doesn't see BTC hitting that $2500 @James Fend has written about in depth with good reason, but with further falling requires more analysis!

Again, have a close eye on the hashrate!
 

MMatt

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Read Millionaire Fastlane
Nov 14, 2011
316
291
133
BTC dropped to $3600 this morning. I am still waiting patiently for a buy opportunity. The market is still in an overall downward trend and until that shows signs of reversal, I'm staying on the sidelines.
 

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steelandchrome

Author of The Retail Leader Book.
FASTLANE INSIDER
Speedway Pass
Nov 6, 2016
315
451
241
Goodyear Az
BTC has jumped 20% in 24 hours.

Have been contemplating buying again the past few days.

Finally pulled the trigger on a small amount again.

Is this a start of a small run?
Who knows, speculation on big buy orders from what I read. I'm still holding and have a long way to go back to even :/

Sent from my SM-G935V using Tapatalk
 

Roli

Gold Contributor
Speedway Pass
Jun 3, 2015
1,254
1,919
570
BTC has jumped 20% in 24 hours.

Is this a start of a small run?
No way to tell as BTC is not linked to any tangible real world actions. However I have a little theory which seems to have held thus far, so if it does keep going up sell at between $7-8000.
 

MNejc

New Contributor
Mar 10, 2019
19
14
19
20
Slovenia
Purchased at 11k, and 3,5k euros and am waiting for the price to get around to 20k then I guess I’m out.
 

nitrousflame

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Aug 7, 2012
261
492
233
33
Minneapolis, MN
BTC has jumped 20% in 24 hours.

Have been contemplating buying again the past few days.

Finally pulled the trigger on a small amount again.

Is this a start of a small run?
IMO, I think it's all a matter of time horizons. In the short term (weeks/months) I wouldn't be surprised to see it go to ~$6k and then back to ~$3k or slightly lower at some point, briefly. If your time horizon is more on the order of several months to years, then anywhere in that range would be a pretty decent entry I think.

@Roli I'm curious to hear more about your theory. I too have a theory, though it's nothing really unique. Basically, I think much of this latest spike can be attributed to a short squeeze resulting in the liquidation and covering of said shorts, which of course then pushes the price even higher. Yet even so, the price has managed to push past the 200 daily average, but stopped just shy of the 200 monthly average... If the price closes/holds above the 200 monthly average, then perhaps we're in for another move higher and/or will begin to establish a longer term upward trend.

DISCLAIMER: I do not trade BTC/crypto with short time horizons (e.g. day trading) so I probably don't know what I'm talking about. That said, I am still very much bullish with longer time frames and have started accumulating over the last few months again.
 

Seniorpreneur

New Contributor
Aug 4, 2007
50
4
12
Edmonton, AB Canada
@TKDTyler - Ah yes, Btc will definitely take a short dip due to "no new coins".. I do think the amount of money that will be pouring into Bitcoin due to increased confidence over the week will fight this dip. Mainly because there was so many new investors scared off by the 2X fork & just waiting to see what would happen first before they bought in.
Hi James! I made some money on the long upside that Bitcoin had last year. Today It SEEMS that Bitcoin has found a bottom and is slowing making it's way to the $5,000 USD level. I'm still not buying more BTC yet. Do you think that previous investors will sellout as soon as the BTC price reaches their own break even point? What do you think?
 

Roli

Gold Contributor
Speedway Pass
Jun 3, 2015
1,254
1,919
570
@Roli I'm curious to hear more about your theory. I too have a theory, though it's nothing really unique. Basically, I think much of this latest spike can be attributed to a short squeeze resulting in the liquidation and covering of said shorts, which of course then pushes the price even higher. Yet even so, the price has managed to push past the 200 daily average, but stopped just shy of the 200 monthly average... If the price closes/holds above the 200 monthly average, then perhaps we're in for another move higher and/or will begin to establish a longer term upward trend.

DISCLAIMER: I do not trade BTC/crypto with short time horizons (e.g. day trading) so I probably don't know what I'm talking about. That said, I am still very much bullish with longer time frames and have started accumulating over the last few months again.
Okay, well this theory first came about from when they opened up the CME long/short mechanism. At the time I predicted it would be bad for Bitcoin, because ultimately there was a lot of negative press coming from the bankers. Even Goldman Sucks which went from completely deriding it, to opening up a small fund for their clients.

So I predicted that when they entered the market they would find a way to screw everyone over, because they ultimately see crypto as a threat, and they control the money and they don't want to lose that control.

My theory is that the banks are buying shed loads of btc and then shorting it (if this is illegal, they are finding ways round that illegality), then when the right time comes they dump their coin crashing the price and thus cashing in on their short.

This is not as risky a strategy as it sounds because of the nature of the btc market.

What is the overall theory of btc holders?

HODL!

Unlike other financial markets crypto heads talk about holding their assets regardless of what happens in the market.

Also unlike other markets it is very difficult to sell large amounts of btc without moving the price. For example if I wanted to sell a million dollars worth of Chrysler shares nobody but me and my broker would notice. However if I tried to sell a million dollars worth of btc all at once I could single handedly cause a price fluctuation just by dumping it on Kraken or one of the smaller exchanges.

So even though the market cap of btc is pretty large, the active players in the market are small, I believe Kraken and Coinbase are the largest exchanges and their 24 hour volumes can be measured in the thousands.

So yeah, the banks are freaked out about btc and at first they tried to ridicule it, then they joined the party and now they're ruining it.

With all that being said, there's still plenty of room for day/week traders to make some money, however for long term investment I think it sucks.

The money will be in the BaaS (blockchain as a service) coins, in particular I'm keeping tabs on EOS as they seem to have a good handle on blockchain speeds and implementing games onto the chain.

Steem (which I'm invested in) could also be good, its flagship dapp Steemit is kind of dying now, however they have the two top blockchain games in Steem Monsters and Drugwars.

Dan Larimer (creator of Steem and EOS) announced the other day that he was going to create Steemit 2.0 on the EOS chain. I have a feeling that it will be bigger, better and shinier than his first attempt and there will be more social features to boot.

At the moment I use btc as a temporary place holder as I buy and sell other cryptos...

I hope I'm wrong about bitcoin, and if it goes past the $9000 mark and stabilises somewhere around the $10k mark then I'll admit my theory is wrong. If however I see it continually bounce between about $3k and $8k I'll believe I'm right.

DISCLAIMER: Even though it sounds like it above, I am not a conspiracy theorist, I don't believe in the Deep State, alien pyramids, or that 9/11 was an inside job. :p:clench:
 

nitrousflame

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Aug 7, 2012
261
492
233
33
Minneapolis, MN
So even though the market cap of btc is pretty large...
Thanks for putting your theory out there.

The main thing that sticks out for me, and really ties it all together, is the market cap and the misconceptions surrounding it. I used to think that in order for the market cap to increase by one million dollars, that one million new, additional dollars had to enter the market. It seems that this line of thinking is rather common as well. However, this is akin to assuming no friction when running a physics calculation, except in this case, the "friction" is liquidity. When liquidity is low, a $1M injection (or withdrawal) from the market may end up moving the market by far, far more than $1M.
 

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broswoodwork

Contributor
I've Read UNSCRIPTED
Oct 16, 2015
43
83
121
Oof....

Wish I didn't even find this thread, to be honest. I only pop in a few times a year, and I was out building my small boring irrelevant business during the crypto bull run.

There's a lot of big names in here. People who's advice, unbeknownst to them, has been critical in me starting my journey. I hope I don't get blasted by too many of them (but I probably will)...

Before anyone says, "hindsight is 20/20", I could've bought into btc at under $100, but passed because beneath the smokescreen of "future world reserve currency", new paradigm, only 21million, etc, etc it was a digital hashmark, devoid of use or intrinsic value, that nobody aside from drug dealers would accept as an exchange of value, and even they wouldn't take it at the rates people were buying in for.

I couldn't afford to gamble, and I dislike gambling in general. Yes, people will say I could've cashed out for $2million at the all time high, but if I bought, I would've been fully cashed out incrementally by $700.

To the point, alot of young impressionable people pass through here looking to get ahead in life, and when they see legendary contributors zealously advocating what amounts to a hot new black jack strategy, they may do ridiculous things, like get a second mortgage to buy hadhmarks or what have you.

I understand most of the people contributing here have a lot more to play than I probably ever will; thus, never gamble what you can't afford to lose holds true, but what about the kids who's understanding of the principles laid down in the books are little less firm and shouldn't be gambling anything?

I don't know... I'm ready to be called an idiot and a**hole (possibly banned). I can take it.

Btw. @lewj24 deserves a special badge of some variety next to his name, because I wasn't seeing anyone else advancing the Greater Fool argument.
 

Adams Baker

New Contributor
Apr 10, 2019
2
1
13
Hi Guys,

I am newbie about cryptocurrencies.
Do you suggest any book or forum to understand well this argument ?

Thanks
When I was new to Forex market I also had the various question about cryptocurrency and trading in my mind. I asked to several individuals about this and one of the experienced traders recommended me Volume FX because they provide free training and support to the ones who are new to Forex and Crypto trading. I got training from Volume and now I able to trade confidently and successfully. So, from my experience with Volume I suggest you to checkout volumefx.com once.
 

FE13

New Contributor
Apr 11, 2019
3
5
13
I believe in Bitcoin.
I have been in BTC for about 5 years but I have never had a whole lot. I have sold some a couple of times but not life changing amounts. The last time I sold some it was for about twice the current price.

I still have more than I have never sold and am not selling. I think of it as a once in a lifetime opportunity to hold some lottery tickets with very good odds.
If the pattern of pumps continues just one more time it would be life changing and I'm not sure what I will do but likely something to set myself up for the future.

If I sold them I could probably never afford to buy them back so I am not selling my lottery tickets for 5 figures.
I have held from $600 to $200 to $20,000 to $3200 and now back to $5,000..
Maybe I will sell when they are 6 figures each.. $100k to $300k ish

I made them all trading, started from $5, but trading isn't what it used to be so now I just hold..
I am not a coder but I know quite a lot about crypto and crypto trading and have experienced some amazing history in the crypto world.

I have bought and sold countless DOGE when it first pumped. I've owned darkcoin/dash when it was brand new, etherium when it was new, and have seen so many rise and fall. I have probably owned over 100 different cryptos at one point in time.

I have spent thousands of hours on exchanges and have been there to witness in person amazing pumps, amazing dumps, great successes, and massive scams.
I was trading XPY live when garza put up the $20 "floor". I saw that.
I made great %s on AUR.
I have lost coin to exchange hacks and have taken advantage of extremely risky arbitrage on collapsing exchanges.

It's been a long strange trip.
 
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Dmoneyzzz

Contributor
Oct 9, 2018
24
30
25
Houston, TX
www.youtube.com
I bought early, I sold into speculation and made profit.
I bought into speculation, sold during a panic and lost a lot of money.

I realized that I am not a good trader and I suffer being a long term investor especially with crypto because I don't really know if I can call it "investing". Also relates to "nothing backing up" the cryptocurrencies.

Nonetheless, I am out of the crypto game but I wish you all the best of luck reaping in the profits you deem fit from your understanding!
 

Vigilante

Legendary Contributor
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Summit Attendee
Speedway Pass
Oct 31, 2011
9,820
56,933
4,655
Gulf Coast
Hey Fastlaners,
As Bitcoin is slowly becoming the real deal. I wanted to give Bitcoin it's own thread containing just long-term & short-term predictions & any big crypto news to help any others who's trading, hodling, etc. a place to throw in your predictions & any actions you plan on taking.

I see the current stage of Bitcoin & crypto as the new Napster & Limewire. Industry bigs (middle-men) will do all they can to fight it & shut it down, but they will soon find out - You can't beat the under-lying ideals & world-changing tech. It will carry on & win out in other forms because the market has experienced the benefits and the market always wins (it will even beat out government regulations).

Bitcoin is in the experienced the benefits stage. As more and more adopt to use Bitcoin as a form of payment (even if the sellers offering to take Btc as payment are valuing on speculative price/trading); the fact remains: They are still using Bitcoin as currency. It is being used as the real deal of exchange between goods & money.

Predictions Nov 8, 2017:
A fork titled B2X was recently cancelled (or "suspended") by their own backers & creators. This is going to give Btc a big bull-run for the next week or so to ~$9,000.

Once it hits this; if the bull-run slows down; a market correction drop of ~20-30% will hit around early or mid December. This will be a short-lived correction though as many are waiting on the sideline (who haven't jumped in the game) for this drop to happen and ready to buy into Bitcoin.

With or without this market correction happening; I strongly believe Btc will at least flirt with $10k before the year is over with.

My actions: I am going to Hodl until I see about a ~15% drop then going to sell half of my coins to later re-buy in once it begins climbing back from the drop. Then Hodl, Hodl, Hodl.
Hackers stole $41M of bitcoin on one of world’s largest crypto exchanges
 

James Fend

Gold Contributor
FASTLANE INSIDER
Speedway Pass
May 4, 2009
1,217
1,504
521
Las Vegas, NV
www.feedbackz.com
Hackers stole $41M of bitcoin on one of world’s largest crypto exchanges
Crazy news.. Maybe we are on the wrong side of the fence?!? It'd be much more Fastlane to focus on hacking while security is still pre-mature and vulnerable in this space LOL

...And then its followed by a small push to break the $6,000 resistance price.. What a weird funny game lol. Whether it proves it can test and stay above $6,000, I'm not too sure of.
 

nitrousflame

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Aug 7, 2012
261
492
233
33
Minneapolis, MN
Crazy news.. Maybe we are on the wrong side of the fence?!? It'd be much more Fastlane to focus on hacking while security is still pre-mature and vulnerable in this space LOL
I'm not so sure I'd call hacking fastlane, unless perhaps it's some form of "white hat" service that helps protect said vulnerable funds rather than stealing them outright!

That said, I find it rather telling that last week we had news of the big USD "stable coin" Tether being only 74% backed, and now Binance was hacked for 7000 BTC, and yet the market is just absorbing it like nothing happened.
 

Vigilante

Legendary Contributor
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Summit Attendee
Speedway Pass
Oct 31, 2011
9,820
56,933
4,655
Gulf Coast
Crazy news.. Maybe we are on the wrong side of the fence?!? It'd be much more Fastlane to focus on hacking while security is still pre-mature and vulnerable in this space LOL

...And then its followed by a small push to break the $6,000 resistance price.. What a weird funny game lol. Whether it proves it can test and stay above $6,000, I'm not too sure of.
I met a hacker that turned good and now he is heading up security for a very large corporation in the United States.
 

MJ DeMarco

Raving Lunatic
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Summit Attendee
Speedway Pass
I've Read UNSCRIPTED
Read Millionaire Fastlane
Jul 23, 2007
28,269
94,489
3,751
Phoenix, AZ
getUnscripted.com
Looks like BTC is making a resurgence, back near $7500.
 

Creep

New Contributor
Apr 29, 2019
18
18
19
Here is my 2 cents on crypto after hundreds of hours reading whitepapers, looking at ALL projects on CMC, investing in a few of them, and being part of the investor groups for 15-20 months.

State of crypto
It's a young market with mostly deflationary assets. This makes the big cheese, BTC naturally increase in price forever, or untill something far better overtakes it in popularity. Imagine myspace vs facebook. If no new sites were ever made, myspace's registrations would be in the billions by now. But other alternatives have come up and are taking over.
I believe the same will happen with BTC. There are already several projects with better teams and better technology than BTC, which is why I choose not to invest in BTC.

What about smaller projects?
It's my belief that adoption will drive price increase for transactional cryptocurrencies. As volume increases, the demand will naturally go up, and as more people hold the tokens, the exchange supply will decrease.
From an investing standpoint I'm looking toward crypto with transactional value that are reaching broadly with their technology, but also with room for growth.
If i put 1000 dollars into one of the top 5, i'm not expecting to ever get rich from that. But if I put it in a low market-cap project, I will expect some kind of return once they make it. (Most wont make it)

Price predictions
Most of you are probably aware that crypto has risen and fell in cycles. And I think the market will continue to do so. We saw an immense boost in 2017, and saw most coins value drop 90+% in the afternmath. In my opinion the industry has not done enough progress to justify a new bullrun at this time. If one starts the following months, I will sell and wait for a massive drop when people realize there are still no rules in crypto. Most people want rules around their assets.

I expect a minimum of 2-3 years before we see solid default options in payment and processing within crpyto. I need to see mainstream stores implement crypto payments before I believe multi trillion market caps are possible.
Untill then BTC will be dominant, and id be surprised to be over 50k.

What to invest in
As mentioned i dont believe in investing in top 5 projects for making the big score.
I have my bets on smaller teams that are trying shake up things. They doing standarized payment methods, making assets of digital goods that would otherwise be forgotten and with no value, making currencies that dont require a warehouse of GPUs to contribute to.
So far i have put some spare change in crypto since 2017 in several small projects. Some are -99% and dying. Some are going +1000% and rising.

Based on these thoughts my top 3 recommendations of different risk groups are:
High risk (high reward)
EXRNchain - are making a network for cross-chain communication and transaction. In practice this means you can walk up to a shop accepting BTC and pay with ANY currency you want.
This means they need to be the default option for the merchant. I feel like its a long shot, but the team has shown incredible dedication to the process, and I romantisize their effort.

Medium risk (medium reward)
Enjin Coin - are making game assets with real value. The gaming market is huge, and these guys are putting a dollar value on the shiny items the players are getting. They are making partnerships and announcements almost daily. I dont see how this project can fail apart from regulations making it difficult for them.

Low risk (low reward)
IOTA - Are doing micro-payment systems with no transaction cost, and a fair node network where everyone pulls their weight. This is in my opinion the surest bet in crypto. They have been talking with so many big companies about partnerships, and have a solid vision for the future. I will not be surprised if i see IOTA show up as the standard in micropayments within the next 10 years.
 

Kevin88660

Bronze Contributor
Speedway Pass
Feb 8, 2019
158
179
139
Singapore
I got into crypto in 2013 while still in University I realized I could mine it using the campus electricity. I sold them all in the 2014 rally. It was purely for fun.

Crypto are not fraud and scams. But neither are they wonderful game changers because it is still early and there are a lot of problems to be deal with namely security issue, high transaction fee and slow transaction process.

The speculation game is about hot money. With money printing all over the world and you have a new asset class, the skin is the limit... This is a market cap game.

The bulls are right, that if bitcoin ever get treated as a serious asset class with a tiny portion of institutional money coming in, the sky will be the limit again. 6 figure bitcoin price is not impossible.

But I do not see it coming because institutional players are not going to touch an unregulated market. And I think governments around the world hate bitcoin. The last thing they want to do is regulate it and made it more presentable as a safer investment.

Without institutional money you only end up with millennials playing it and many were burnt by the 2017 rally. They are not coming back just after a few monthsAnd hence I do not see the current bitcoin rally as sustainable.
 

JamesQB8

New Contributor
Mar 20, 2019
23
14
19
I've got just under 1k sitting in exchanges. Might dabble but still have no idea what I'm truly doing lmao
 

ashzgm09

PARKED
May 16, 2019
6
0
3
After ignoring my best friend for the last 4 years, I missed the boat on the meteoric rise of cryptocurrency. So, of course, now that the average bro and grandma are looking into cryptocurrency, I finally dove in. Actually, I didn't dive in, I merely dipped a toe:) I have been subscribed to some Cryptocurrency and Bitcoin Youtube Channels to keep myself updated in the crypto world.
 
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