Bitcoin Thread

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I am just waiting for the rug to be pulled ... may not be today and may not be tomorrow but it will be pulled. In the interim traders are still making money - whether we are correcting 40% or going to 100k. As long as we are moving then there is money to be made irregardless of direction. Personally I see the correction but not the 100k but then again the higher we get the harder it will be to manipulate prices which is a good thing from a regulatory stance as then that will attract the guys with the big bags. Volatility is not their friend. So they will watch everyone get rekt then once proper measures are in place they will come in. Right now it's a playground and for solo traders the best time to make as much as you can whilst you still can.
 
The only question as always is where's the money and increased interest going to come from? Tether is still under pressure from people selling and pulling out.
 
Swa said:
The only question as always is where's the money and increased interest going to come from? Tether is still under pressure from people selling and pulling out.
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There is already increased interest - Trust me the recent Bitcoin rally has gotten attention of folks out there. And so the fomo is slowly creeping in. People dont wanna get left behind on the road to 20k especially when they read and see that we can go to 100k this time. They see dollar bills and jump in irrespective of its price because the presumption is it will still go up. Libra has also brought alot of attention and it has not even launched yet. They just announced it. Countries going through recession so people are looking at what to hedge in and the continued shift to digital cash and instant payments. A layman in the street may not even know what tether is but i can bet that they have heard of Libra.
 
Swa said:
The only question as always is where's the money and increased interest going to come from? Tether is still under pressure from people selling and pulling out.
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Wouldn't or couldn't tether being under pressure meaning people are taking profits and buying back in to other coins ?
 
Countcrypto said:
Wouldn't or couldn't tether being under pressure meaning people are taking profits and buying back in to other coins ?
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No one is buying into altcoins if you look at the trend since the 2019 recovery started.

The buying is concentrated into Bitcoin as we are again about to top 60% dominance on bitcoin.

To me this is a clear sign that given enough time (assuming crypto/bitcoin doesn't completely die off by some disaster) that Bitcoin will be funneling all of the market capital away from altcoins.

Take a look at Altcoins performance against BTC , not a single one on the top50 aside from BNB have had any gains against BTC and they only appear to have recovered in USD terms because BTC/USD price recovered drastically.
 
John Tempus said:
No one is buying into altcoins if you look at the trend since the 2019 recovery started.

The buying is concentrated into Bitcoin as we are again about to top 60% dominance on bitcoin.

To me this is a clear sign that given enough time (assuming crypto/bitcoin doesn't completely die off by some disaster) that Bitcoin will be funneling all of the market capital away from altcoins.

Take a look at Altcoins performance against BTC , not a single one on the top50 aside from BNB have had any gains against BTC and they only appear to have recovered in USD terms because BTC/USD price recovered drastically.
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Or a lot of new money will come into Altcoins with people hoping to buy into "the bext bitcoin" because many will believe btc doesn't have much gains left to make. That was my own experience.
 
John Tempus said:
No one is buying into altcoins if you look at the trend since the 2019 recovery started.

The buying is concentrated into Bitcoin as we are again about to top 60% dominance on bitcoin.

To me this is a clear sign that given enough time (assuming crypto/bitcoin doesn't completely die off by some disaster) that Bitcoin will be funneling all of the market capital away from altcoins.

Take a look at Altcoins performance against BTC , not a single one on the top50 aside from BNB have had any gains against BTC and they only appear to have recovered in USD terms because BTC/USD price recovered drastically.
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I'm actually waiting to see how this unfolds - the altcoin purge that is because most of them have to die. I do agree the more BTC pulls away from alts and gains dominance the more obscure alts and crap coins will die. A cleansing of sorts. I do think some will survive though and those will be the players to watch years down the line.
 
phly said:
I'm actually waiting to see how this unfolds - the altcoin purge that is because most of them have to die. I do agree the more BTC pulls away from alts and gains dominance the more obscure alts and crap coins will die. A cleansing of sorts. I do think some will survive though and those will be the players to watch years down the line.
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Right I am not guessing on the overall market movement or where that might be heading.

I am just pointing out to everyone who thinks that altcoins in general or more specific the top50 altcoins made any sort of recovery in 2019 need to look at the actual stats. They are all down, some more than others but in general all of them have made zero recovery and it is looking worse and worse.

A very quick look at BTC price January 1 , 2019 it sat at $3700 where it currently sits at $11400 which means BTC/USD recovered just over 3x in 2019 to date.

The same cant be said for any of the other top 50 marketcap altcoins, I know there is some random deep **** coins down the list that have random pump and dumps at low liquidity that might have had a better recovery but its not worth paying attention to.

To be a bit fairer aside from BNB that I am excluding from the recovery list due to it somehow managing to decouple from BTC price the only Altcoin that did manage to outperform BTC in recovery is Litecoin at a 4x recovery since January 1, 2019 but this also needs to be taken with a bag of salt considering it had nearly a 90% crash in price from its high point to recover from which makes it much easier to recover at 4x year to date.

That said it is still mostly thanks to BTC/USD price recovery since just looking at LTC/BTC price you can see that LTC/BTC is only 40% higher than on January 1 , 2019 and not 400% higher if it really recovered on its own. Still in the overall market perspective a decent feat for LTC I guess.
 
John Tempus said:
Right I am not guessing on the overall market movement or where that might be heading.

I am just pointing out to everyone who thinks that altcoins in general or more specific the top50 altcoins made any sort of recovery in 2019 need to look at the actual stats. They are all down, some more than others but in general all of them have made zero recovery and it is looking worse and worse.

A very quick look at BTC price January 1 , 2019 it sat at $3700 where it currently sits at $11400 which means BTC/USD recovered just over 3x in 2019 to date.

The same cant be said for any of the other top 50 marketcap altcoins, I know there is some random deep **** coins down the list that have random pump and dumps at low liquidity that might have had a better recovery but its not worth paying attention to.

To be a bit fairer aside from BNB that I am excluding from the recovery list due to it somehow managing to decouple from BTC price the only Altcoin that did manage to outperform BTC in recovery is Litecoin at a 4x recovery since January 1, 2019 but this also needs to be taken with a bag of salt considering it had nearly a 90% crash in price from its high point to recover from which makes it much easier to recover at 4x year to date.

That said it is still mostly thanks to BTC/USD price recovery since just looking at LTC/BTC price you can see that LTC/BTC is only 40% higher than on January 1 , 2019 and not 400% higher if it really recovered on its own. Still in the overall market perspective a decent feat for LTC I guess.
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While I always value your insight in the thread - I have to disagree with you on this, unless I'm misunderstanding what you're saying? But take a look at the Top 20 Crypto's by Market Share (Currently) and check the Yearly change in my screenshot below. It seems that there are Alt's which are far outperforming BTC. It's possible that I'm misunderstanding something that you're referring to though as I'm no expert by any means... Change over the past 3-6months seems to be more accurate for what you are referring to
Crypto Top 20.JPG
 
John Tempus said:
Right I am not guessing on the overall market movement or where that might be heading.

I am just pointing out to everyone who thinks that altcoins in general or more specific the top50 altcoins made any sort of recovery in 2019 need to look at the actual stats. They are all down, some more than others but in general all of them have made zero recovery and it is looking worse and worse.

A very quick look at BTC price January 1 , 2019 it sat at $3700 where it currently sits at $11400 which means BTC/USD recovered just over 3x in 2019 to date.

The same cant be said for any of the other top 50 marketcap altcoins, I know there is some random deep **** coins down the list that have random pump and dumps at low liquidity that might have had a better recovery but its not worth paying attention to.

To be a bit fairer aside from BNB that I am excluding from the recovery list due to it somehow managing to decouple from BTC price the only Altcoin that did manage to outperform BTC in recovery is Litecoin at a 4x recovery since January 1, 2019 but this also needs to be taken with a bag of salt considering it had nearly a 90% crash in price from its high point to recover from which makes it much easier to recover at 4x year to date.

That said it is still mostly thanks to BTC/USD price recovery since just looking at LTC/BTC price you can see that LTC/BTC is only 40% higher than on January 1 , 2019 and not 400% higher if it really recovered on its own. Still in the overall market perspective a decent feat for LTC I guess.
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It depends when u bought. If you bought ether around 100 which was possible you'd have 3x your money by now too. Monero was down to 40$ and almost 3x now. Eos was down below 3$ and went up over 8. The marketcap of bitcoin is so large though that when it goes 3x it will be more dominant.
 
Countcrypto said:
It depends when u bought. If you bought ether around 100 which was possible you'd have 3x your money by now too. Monero was down to 40$ and almost 3x now. Eos was down below 3$ and went up over 8. The marketcap of bitcoin is so large though that when it goes 3x it will be more dominant.
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We are not discussing when you bought but the price recovery in 2019 ie. the current bull run. If you are just going to keep going by when you bought then if I bought BTC at 1c then the same applies, Altcoins are having a terrible time in price and price recovery vs Bitcoin since inception if you want to compare any altcoin with BTC at the deep range you are using.

So all I am trying to relay here is that aside from the late 2017 Altcoin mania , Altcoins have not had any glory days in general at all and consistently crashing aside from a very few select altcoins of which BNB is a massive exception with LTC a small side scoop.
 
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