Bitcoin the RISE and FALL

[mundey]

A look in the bitcoin world.

We saw bitcoin rise to an all-time high on Dec 17 to $20,089.00 with a total market CAP of $326b.

Dec 28

Bitcoin price tumbled after South Korea announced more measures to regulate bitcoin trading, including a potential shutdown of exchanges, amid volatile moves in the world’s third-largest cryptocurrency market.

"Cryptocurrency speculation has been irrationally overheated in Korea"

, the government said in a statement.

“We cannot leave the abnormal situation of speculation any longer.”

A further drop caused by George Soros on Jan 25 when he said bitcoin is a bubble. Since then bitcoin price dropped 41%.

Let us not forget that during this downwards trend of bitcoin value and the dropping in the market cap of all crypto currencies that if bitcoin fall sharply so does most other crypto’s , if bitcoin surges other crypto’s tend to again fall, but as long as bitcoin price is moving in a sideways direction other crypto’s have a tendency to move in a upwards trend.

Why do I share this? Since this document have no significant value as I am NOT a market analyser and does not yet have a vast knowledge of the Financial industry and how the economy of one land can effects the price of crypto’s around the world.

MT GOX

Mt Gox, a Japanese bitcoin exchange sold over $400 million worth of bitcoin and bitcoin gold, started mid to end December. This had a massive effect on the market cap of not only bitcoin but all crypto’s. This caused a massive over sell situation in the markets and caused hundreds and thousands of investors to sell their bitcoin in fear of losing their holdings. Causing a further push downwards on price.

CHINA ICO

On September 4 2017, the People's Bank of China (PBoC) issued a sharp statement labelling token sales

"illegal and disruptive to economic and financial stability."

The central bank reportedly said it would

“tighten regulations”[/ QUOTE] on Chinese people’s participation in overseas cryptocurrency transactions and ICOs. According to SCMP, cryptocurrency ads have also now vanished from the Baidu search engine and the social media platform Weibo, much as recently happened with Facebook. Causing the bitcoin again to slip from $8000 to $7000 range.

Looking forward?

Adam Fisher who oversees macro investing at New York based Soros Fund Management ($26 billion) received internal approval to trade on virtual coins. He is yet to make any wager. George Soros now getting ready to trade on bitcoin. Billionaire Alan Howard Founder of Brevan Howard Asset Management ($1.35 billion) made sizable personal wagers, separate from his firm. It is said that he is planning to put more of his own money into digital assets and block-chain technology.

Why the change of heart from George Soros?

In January he said that bitcoin is a bubble, since then prices tumbled by more then 41% could it be that the bitcoin bubble has finally burst? If that is the case according to Olga Kharif and Mattew Leising, crypto analyst at Bloomberg, this could be the turn that crypto need to up the total market cap.
HOLD your bitcoins, the turn in market is close.

This is my first attempt at writing.
Am i correct according to the analyst and professionals?
Please give feedback i can handle bad comments also.
Johan Mundey

 

[Johnatan56]

Could you separate what you're quoting using

[/ QUOTE] tags, it's the right-most bubble option in the toolbar. Currently it's just a confusing mess.

 

[mundey]

Changed the layout and added the quotes. Thank you

 

[saor]

Bitcoin price tumbled after South Korea announced more measures to regulate bitcoin trading...


A further drop caused by George Soros

You're attributing far too much causation to Korea and Soros. Bitcoin price was parabolic and overextended toward end of 2017 and was due some serious pullback. No magic or negative instigators required.

Why the change of heart from George Soros?

Someone like Soros doesn't have a 'change of heart'. Everything he does is calculated for profit. Besides, you can believe bitcoin is/was a bubble whilst also taking advantage of it; he's done nothing inconsistent or contradictory here.


As to the rest of your writing...

Bitcoin price tumbled after South Korea announced more measures to regulate bitcoin trading, including a potential shutdown of exchanges, amid volatile moves in the world’s third-largest cryptocurrency market. , the government said in a statement.

Bitcoin tumbled again this week after South Korea announced more measures to regulate bitcoin trading, including a potential shutdown of exchanges, amid volatile moves in the world’s third-largest cryptocurrency market.
https://www.ft.com/content/75e13894-eba7-11e7-bd17-521324c81e23

Adam Fisher who oversees macro investing at New York based Soros Fund Management ($26 billion) received internal approval to trade on virtual coins. He is yet to make any wager.

Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager...
https://www.bloomberg.com/news/articles/2018-04-06/george-soros-prepares-to-trade-cryptocurrencies-as-prices-plunge

...rather just skip the plagiarism.

 

[mundey]

Thank you for the reply. This answer my question. Rather stick to what i am best at.. day trading Forex instead of even spending a min into something that i clearly suck at. Best is to just skip posting anything again.

 

[mundey]

Should I remove the post?

How do i go about doing that?

 

[Johnatan56]

Should I remove the post?

How do i go about doing that?

Just leave it.

 

[saor]

Best is to just skip posting anything again.

Or take the criticism & suggestions on board and keep trying . Bear in mind this is a forum, if you just want to post articles it might be worth getting a free wordpress site and doing it that way. Either way - stick around, have a chat, have a braai, meet some digital nerds.

 

[mundey]

I know i am able to create a WordPress site myself, but no one is going to respond or give advice if they dont know about it or that it even exist. I would not have gotten your advice then.

Thanks man.
Ons gaan nou braai...

 

[saor]

day trading Forex

So I'm curious about why Forex and why day-trading? What is it about those things you enjoy so much? What about other assets and timeframes? I only got interested in trading with crypto so it's interesting to hear from people trading in more traditional markets and what it is about those markets that interests them.

 

[mundey]

I tested Binary, crypto, stocks and Forex. Funny enough I just understood the charts and how to read the trends on forex, lost allot on stocks so now i am takking a course online just to get deeper understanding of how to fully understand market analysis. So for me it still remain more predictable on the social news etc etc... in Forex I can make profit regardless of the market going up or going down. Staying on top of the news and trying to constantly get in circles of friends in this world.

My friend always say:

If you are the smartest person in the room, you are in the wrong room

I am constantly trying to make friends in that circles. I come from an IT background so I am unfortunate not to know any close friends or related in Finance markets.