Bitcoin Thread

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biometrics said:
So you can't show me any real world examples of large scale adoption of the multitude of projects/currencies. So pretty much vapourware.
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The flipside of that view is the view that these technologies are being developed in real-time in view of the public - they aren't behind closed doors for 10 years and we only see the final commercial application of it. The internet and it's foundational protocols would likely also seem like vaporware if we were around watching the first 10 years of it's development - but we didn't, we only really saw the working version. And from that followed a dotcom boom. With a digital technology, the internet, the way these projects raise funding...the boom response point is being pushed back to the development layer - the markets are responding to the promise of something while it's being developed.

Then the markets cool down.
Followed by a secondary market response to the actual technology.

What we're seeing might just be a new kind of market cycle. I don't think this is the 1:1 equivalent of the dotcom boom - if we're going to see such a boom followed by a real crash it'll be in response to the actual tech at a commercial level, where the crash might prune away the riff-raff in the way the dotcom boom & crash did.
 
Yeah, its all boring at the moment. Its lost the 2017 romance for me, and I'm starting to feel bored of actively trading now, may just resort to dollar cost avging instead and buying a little every month and not caring.
 
SaiyanZ said:
Also haven't traded much recently. Though looks like there's a bit of action now. Need a solid push to get people trading again.
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stuck in a range - 7700 - 8100.

needs to break either way sooner or later
 
Slootvreter said:
What makes you think that?
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My very amateur attempt at TA and EW Count, could still get a little higher but I think it will get to mid 7000's ultimately. There's a strong support there and a couple other key areas, but likely to take a few days to get there.
 
L10Yn said:
My very amateur attempt at TA and EW Count, could still get a little higher but I think it will get to mid 7000's ultimately. There's a strong support there and a couple other key areas, but likely to take a few days to get there.
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feck me....EW is the most confusing ****e. attempted to count a few times and failed miserably.
 
*SynergyX* said:
feck me....EW is the most confusing ****e. attempted to count a few times and failed miserably.
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lol that's why I added the very amateur part, I could be very wrong here. Still need to learn more about other indicators and patterns because EW count can be very subjective.
 
We could still be on a downward trajectory for a while, but I'm still very bullish mid-long term.

Consider that the total market cap of cryptos is now about $283bn. It's barely one third of Apple's market cap. The market cap of just the top 10 corporations is $5.5 Trillion! In the global scheme of things the total market cap of cryptos is still minuscule. Actual money in is obviously far less than the market cap - probably in the couple of 10's of billions.

Governments now seem to be mostly happy to allow crypto exchanges to continue provided they are regulated and the regulatory environment is maturing and clarifying so there will be less regulatory shocks. New tech like lightning network, etc, is coming online to alleviate congestion and fee issues. Bitcoin has never in it's history declined during Q2. More institutional money is starting to come in. More apps and solutions will reach fruition (of 10000+ active projects on Github).

Bottom line, there is potentially a lot of positive mid-long term upside here - barring any major FUD - the biggest risk could be a meltdown in the Tether/USDT saga.

Past performance is no indication, but if it does follow past patterns there will be a general malaise and loss of interest, possibly for a protracted period, and then, suddenly, mania and a new bubble starts again going to higher levels than the previous one. Will it happen again? I honestly don't know, but I have a feeling there is a strong possibility. The key is working out if the current bubble has fully popped yet.
 
best move is take Easter off and ask heysoos for a miracle, because frankly thats all that can save many from being completely rekt.
 
garp said:
We could still be on a downward trajectory for a while, but I'm still very bullish mid-long term.

Consider that the total market cap of cryptos is now about $283bn. It's barely one third of Apple's market cap. The market cap of just the top 10 corporations is $5.5 Trillion! In the global scheme of things the total market cap of cryptos is still minuscule. Actual money in is obviously far less than the market cap - probably in the couple of 10's of billions.

Governments now seem to be mostly happy to allow crypto exchanges to continue provided they are regulated and the regulatory environment is maturing and clarifying so there will be less regulatory shocks. New tech like lightning network, etc, is coming online to alleviate congestion and fee issues. Bitcoin has never in it's history declined during Q2. More institutional money is starting to come in. More apps and solutions will reach fruition (of 10000+ active projects on Github).

Bottom line, there is potentially a lot of positive mid-long term upside here - barring any major FUD - the biggest risk could be a meltdown in the Tether/USDT saga.

Past performance is no indication, but if it does follow past patterns there will be a general malaise and loss of interest, possibly for a protracted period, and then, suddenly, mania and a new bubble starts again going to higher levels than the previous one. Will it happen again? I honestly don't know, but I have a feeling there is a strong possibility. The key is working out if the current bubble has fully popped yet.
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Excellent post.
 
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