Bitcoin Thread

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The movement on the shorts is now similar to end of April and start of May when we had the previous double top at $10k. Also when we fell from $9200 afterwards.
 
SaiyanZ said:
The movement on the shorts is now similar to end of April and start of May when we had the previous double top at $10k. Also when we fell from $9200 afterwards.
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Yeah.
My feeling is there's the possibility of temporary bull market, then slowly dip down again to lower lows before heading up toward 2019. But of course - could just break through. Will be watching it closely, but for now gonna start trading mostly alts again.

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This looks plausible at this point?
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Thor said:
This looks plausible at this point?
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Yes that's kinda what I posted.
I just don't see it as necessarily the end of the bear market, I think the bottom might still be a lot more drawn out than it currently has been. Wait and see I guess.
 
Bitcoin ETF "Nearly Certain" To Win Approval Later This Year

The background for the optimism is tempered with some specific downside: coming crypto and ICO regulations. Both sources said that the ‘nearly certain’ approval of a Bitcoin ETF and other crypto ETF products will be announced alongside the first set of crypto regulations of substance from both the SEC and the CFTC.

Our most optimistic source, coming from the CFTC, said the following:

“I would call it 90% at this point. The crypto markets have moderated and regulators have watched the lack of drama surrounding Bitcoin futures across several global exchanges. The price moderation and adoption of a ‘peer product’ is what the conversations have centered around. In January we were justifiably concerned about a bubble and the harm a quickly approved product could attract speculators and create losses that led to significant lawsuits. Now, those factors seem to be mitigated significantly.”

The second source, a former SEC employee who left the regulator two weeks ago, had this to say:

“I would expect a positive outcome in September – or if it gets strung out a little further it is simply a few ‘dotted i’s and crossed t’s’ are being finalized on larger regulatory language in the crypto space. To be clear, most of the regulation will be first focused on ICO’s and the issues those pose for retail investors at the moment. US residents are sending money to all sorts of exotic locations to invest in unregulated instruments with absolutely zero recourse for losing every cent they’ve put at risk. ICO regulation will begin to solve those issues and keep client assets ‘onshore’.

Both sources made further comments all having to do with the runway that Bitcoin and crypto futures (Ethereum) have provided for ETF products taking center stage late this year and into 2019.

The regulatory agencies are fully aware that once this door is cracked open it will create a flood of submissions, approvals, new products in every color, shade, and denomination connected to crypto. Thus, the congruent push for regulation that will provide the architecture for fair and equitable markets to surround the newly regulated asset class.
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:cool:
 
Gtx Gaming said:
Etf=big money for btc.
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I'm not so sure. With all the extra traders coming into the market with ETF it might end up trading like gold with low volatility and slow price action. Bigger players might kill the trading part of crypto because they will come with big money and take tiny margins.

Futures already reduced the trading fun somewhat. We used to have $1000 movements a day quite often in November/December/January. Now it's maybe a once a month thing if lucky.

Yeah the price might go up but just holding is boring.
 
SaiyanZ said:
I'm not so sure. With all the extra traders coming into the market with ETF it might end up trading like gold with low volatility and slow price action. Bigger players might kill the trading part of crypto because they will come with big money and take tiny margins.

Futures already reduced the trading fun somewhat. We used to have $1000 movements a day quite often in November/December/January. Now it's maybe a once a month thing if lucky.

Yeah the price might go up but just holding is boring.
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Crazy how low volatility is compared to last year. There were days where I could scalp 10+ times a day easily. Everything pretty much died since we dropped below $10k.
 
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