re: Official CryptoTalk Thread

Used to take me 10 days in coinbase. People kept saying there transfers were instant. I switched from my banking account numbers to my debit card numbers and now it's instant. Don't have to wait ten days Just FYI for those that don't know. Lord knows I could have made a pile of money back in December had I known that

Stop losses will trigger and some panic selling will occur.

It can go one of two ways

1. Apocalypse. Everyone panics, faith is shattered

2. Little guys panic, whales buy btc cheap. The cycle continues and we dip to 5000-5500 temporarily.

I see it too. We will be entering uncharted territory though and I'm a pussy, so I'm just gonna hodl

No posts? Interesting of news.

ICX mainnet official, Binance adds usdt/icx trading pair. Will facilitate token swap.

Coinbase announcing adding ETC as next coin.

Hopefully we hit bottom

Binance also adding Siacoin(SC)

LINK

Bitcoin and ether are not securities, but some cryptocurrencies may be, SEC official says

Small pump today. Bulltrap? How about a shill article for posterity's sake.

LINK

quote:

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Baruch attributed Bitcoin’s soaring value in December to the launch of Bitcoin futures contracts on CME and CBOE, with “tremendous speculation and the fear of missing out” causing prices in the cryptocurrency sector to “sky-rocket too quickly.” The subsequent sell-out has now “wiped out most, if not all, of the over-enthusiasm,” he suggested, saying that in the near-term, a bottom would occur “more quickly and more constructively” if Bitcoin’s recent low of $6,000 holds.

Baruch qualified his analysis, however, by noting that Bitcoin’s 100 week moving average is now down to $4,550. The broker considered that Bitcoin’s 6-month downtrend will remain intact until a close above $11,300, with a near-term downtrend holding if the currency closes above $8,500. In the long-term, Baruch maintained “significant upside,” and singled out $10,000 as is a “crucial line in the sand,” going so far as to advise selling against it.

This month has seen a series of controversial discussions surrounding the impact of Bitcoin futures markets on the leading cryptocurrency’s fortunes, with Fundstrat’s Tom Lee attributing Bitcoin’s “significant volatility” to the timing of CBOE futures contract expirations. A much-discussed research paper released June 13 by academics at the University of Texas alleged that US dollar-backed cryptocurrency Tether (USDT) was being used as a shorting mechanism by institutional actors “to provide price support and manipulate...prices,” artificially deflating the price of Bitcoin to maximize short-term returns on futures contracts.

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I wish we'd go ahead and drop <6k on btc. Tired of the suspense!

I do think it will rebound long-term. I think it's going to take longer to rebound than a lot of us thought.

A lot of people were drunk and bought at or near ATHs and got burned hard, so it's hard to develop good sentiment.

Then we have the case of manipulation; it's easier to make money in a bear market for day traders in low-volume scenarios. Couple that with the poor sentiment and it's easier to maintain these swings on a downward trend.

I believe (hope) that the true floor for BTC won't be much lower than 6k since thats about the power cost to mine a single coin right now. Mining will cease as price drops below 6k.

The tech is certainly maturing and so is the space. There is utility and value in some cryptocurrencies. We need the cloud of regulation dispersed, some fresh (institutional??) money to come in, and time. I think we may see this swing between 5 or 6-10k for awhile.

I'm probably going to put another 1-2k into the space if btc nears 5k and hope for the best.