Sunday, October 17, 2021

Why MATIC needs Ethereum to pump, now more than ever

A large number of coins followed in the footsteps of Bitcoin and joined yesterday. However, when the real coin price took a break and started to “cool down” around $ 62k, most of the highs took a step back.

However, MATIC remained the only alternative [apart from NU] of the top 100 that continued to reflect two-digit 24-hour appreciation numbers even as of this writing.

After witnessing its own part of consolidation in recent months, MATIC finally changed its "consolidation" narrative yesterday by recording a massive green candle on its price chart. After opening at $ 1.2 on Friday, MATIC managed to close around $ 1.6, a level last seen on September 7.

The Ethereum-MATIC link

MATIC has followed in the footsteps of Ethereum during most of the uptrend / downtrend phases. Consider this: In May, when Ethereum was creating new highs on a daily basis, MATIC rallied 350% [from $ 0.6 to over $ 2.7] in just two weeks. In particular, during that same period, Bitcoin was trending down on its price chart.

However, Ethereum development has managed to notice an increase of less than 1% during the last day. Therefore, it can be argued that the relationship that MATIC shares with ETH is gradually fading.

Although the aforementioned argument may seem true for now, it should be noted that it will not hold up in the long run.

The X factor

MATIC's recent listing on the South Korean exchange Upbit managed to trigger the alt surge this time around. In the last 24 hours, MATIC recorded a trading volume of $ 1,870,086,050 - equivalent to 28.73% of the total volume of the exchange.

The tokens are not listed on the daily exchange. But whenever they are, they end up feeding the price of any asset. Therefore, without this event, the price of MATIC would not have been able to take such high steps in such a short time.

Eventually, accumulated withdrawal transactions [from exchanges] yesterday hit a 4-month high and the reading for this metric topped 13k. For context, an increase in withdrawal transactions implies that the accumulation trend is in play, while a fall indicates the opposite.

However, the increase was short-lived and the aforementioned level could not be sustained for long. The attached chart below clearly highlights how the transaction count witnessed a free fall. In fact, at the time of this writing, the same had returned to its 6-month lows.

Fundamentals

However, the divergence of DAA prices has been increasing lately. According to Santiment's chart, it has been projecting a strong bullish signal since the end of last month.

This model, as such, tracks the relationship between the price of the coin and the number of daily active addresses that interact with the coin. A buy signal is indicated with the DAA divergence increases along with the price. On the contrary, when active addresses decline during a price rise phase, selling pressure is induced.

MATIC being able to maintain its bullish streak on this chart, only indicates the healthy state of the active directions. Indeed, the environment is quite favorable to sustain the MATIC rally.

Note

The Upbit hype would eventually fade over time, but the fundamentals of the token and its relationship with Ethereum would continue to have a commanding impact on its price.

Therefore, if Ethereum development recovers from this point, the price of MATIC can be expected to move in tandem. The ripple effect of the same would see currency withdrawals record another rally and the build-up narrative would again gain traction.

However, if that doesn't happen, MATIC's price increase phase could end up being momentary.

Why MATIC needs Ethereum to pump, now more than ever

However, MATIC remained the only alternative [apart from NU] of the top 100 that continued to reflect two-digit 24-hour appreciation numbers even as of this writing.

The Ethereum-MATIC link

However, Ethereum development has managed to notice an increase of less than 1% during the last day. Therefore, it can be argued that the relationship that MATIC shares with ETH is gradually fading.

Although the aforementioned argument may seem true for now, it should be noted that it will not hold up in the long run.

The X factor

Fundamentals

However, the divergence of DAA prices has been increasing lately. According to Santiment's chart, it has been projecting a strong bullish signal since the end of last month.

MATIC being able to maintain its bullish streak on this chart, only indicates the healthy state of the active directions. Indeed, the environment is quite favorable to sustain the MATIC rally.

Note

The Upbit hype would eventually fade over time, but the fundamentals of the token and its relationship with Ethereum would continue to have a commanding impact on its price.

However, if that doesn't happen, MATIC's price increase phase could end up being momentary.

Why MATIC needs Ethereum to pump, now more than ever

However, MATIC remained the only alternative [apart from NU] of the top 100 that continued to reflect two-digit 24-hour appreciation numbers even as of this writing.

The Ethereum-MATIC link

However, Ethereum development has managed to notice an increase of less than 1% during the last day. Therefore, it can be argued that the relationship that MATIC shares with ETH is gradually fading.

Although the aforementioned argument may seem true for now, it should be noted that it will not hold up in the long run.

The X factor

Fundamentals

However, the divergence of DAA prices has been increasing lately. According to Santiment's chart, it has been projecting a strong bullish signal since the end of last month.

MATIC being able to maintain its bullish streak on this chart, only indicates the healthy state of the active directions. Indeed, the environment is quite favorable to sustain the MATIC rally.

Note

The Upbit hype would eventually fade over time, but the fundamentals of the token and its relationship with Ethereum would continue to have a commanding impact on its price.

However, if that doesn't happen, MATIC's price increase phase could end up being momentary.

Why MATIC needs Ethereum to pump, now more than ever

However, MATIC remained the only alternative [apart from NU] of the top 100 that continued to reflect two-digit 24-hour appreciation numbers even as of this writing.

The Ethereum-MATIC link

However, Ethereum development has managed to notice an increase of less than 1% during the last day. Therefore, it can be argued that the relationship that MATIC shares with ETH is gradually fading.

Although the aforementioned argument may seem true for now, it should be noted that it will not hold up in the long run.

The X factor

Fundamentals

However, the divergence of DAA prices has been increasing lately. According to Santiment's chart, it has been projecting a strong bullish signal since the end of last month.

MATIC being able to maintain its bullish streak on this chart, only indicates the healthy state of the active directions. Indeed, the environment is quite favorable to sustain the MATIC rally.

Note

The Upbit hype would eventually fade over time, but the fundamentals of the token and its relationship with Ethereum would continue to have a commanding impact on its price.

However, if that doesn't happen, MATIC's price increase phase could end up being momentary.

Bearish post in a bullish phase. Advice worth considering.

Dear Hodlers,

Bearish post in a bullish phase. I'm expecting downvotes, but I am happy to have them if it means I can give wisdom to 1 or 2 people. In this post, I wanted to list a few things to be mindful of when entering what could be one of the craziest weeks of price action we have seen in a few years.

I want to preface my points by saying, I have been, and still am, a HODLER of BTC and other cryptos for many years and have also been burnt in the past and seen significant portfolios dwindle because I didn't take profits when so many fundamentals were screaming at me to do so. I'm not a professional. However, I have a strong passion for trading and love all Bitcoin, and the broader crypto community is looking to achieve.

Here are my thoughts moving forward:

Buy the hype, sell the news. Coinbase listing & futures. These two events have been equally as significant as the recent news of a US Futures Bitcoin ETF, which is looking likely to go ahead this coming week. When previously mentioned events occurred, the price has often risen the weeks prior (buying into the hype) and crashed the day or days later after the news hits and is confirmed.
As Warren Buffett said, "Be fearful when others are greedy". It takes one search of Bitcoin on YouTube to see the sheer number of green arrows, bulls, and shocked faces at present to action/consider this advice. More so, the BTC fear/greed index is at a point where rejection/price correction has occurred seven times over the last year. See the following link: https://ibb.co/Fwz5fRk. I've overlayed the one-year BTC price and the fear greed index. The white lines represent times the price hasn't blown through this point and instead rebounded or consolidated, resulting in a decent drop in price (>15%).
Bitcoin IS overbought from a technical analysis view. I think that's pretty clear to everyone. Most indicators have been screaming for a reversal. We all know that BTC ignores indicators in true euphoric bull runs and respects them when simply rising in price, reversing close to when it should. At this stage, Bitcoin keeps being bitcoin and is going against all the bears claiming 20K incoming.
Nothing is linear. Price has been too euphoric. Bitcoin and all assets like to retrace. It's essential for the longevity of a bull run. Since the 25th of September, the price hasn't retraced >~7% from high to low. It's relatively uncommon, especially with the greater than average volume we have seen since this date.
Finally, Evergrande. As much as we like to think that BTC isn't tied to traditional markets, it is. I'm not going to lecture you about what's happening. If you don't know what I mean by simply stating, Evergrande, google it and read. It hasn't gone away and isn't any time soon. It could heavily impact this euphoric run we are experiencing if the broader traditional market were to tank.

As much as I'd love to give you the pipedream that we're going to surpass ATH and go the moon from here, I've been led by my emotions so many times in times like this and wanted to give (what I hope) are some wise words of advice.

Stay safe out there, family <3

Pantera Capital CEO: The next Bitcoin price plunge will be "less than" 80%

The Pantera Capital report pointed out that Bitcoin prices will not rise too much in the future.

The Bitcoin market's trend of plummeting more than 80% after experiencing a strong bull market may come to an end.

A new report released by Pantera Capital, a California-based hedge fund, came to this conclusion. Specifically, the report pointed out that the recent decline in Bitcoin prices has not been as severe as in the past.

For example, in 2013-15 and 2017-18, Bitcoin plummeted by 83% after reaching a peak of nearly $1111 and $20,809 respectively. Similarly, Bitcoin's bull market in 2019-20 and 2020-2021 led to large-scale price corrections. Nevertheless, their subsequent corrections were -61% and -54% respectively.

Dan Morehead, CEO of Pantera Capital, emphasized that after the bear market cycles of 2013-15 and 2017-18, selling sentiment continued to decline, and pointed out that the decline in the future bear market will be "smaller." He explained:

"I have always believed that as the market becomes wider, more valuable, and more institutionalized, the magnitude of price fluctuations will ease."

These statements came as Bitcoin resumed its bullish momentum and retested its current record high of close to $65,000.

Following the approval of the first Bitcoin exchange-traded fund (ETF) after the US Securities and Exchange Commission (SEC) has rejected similar investment products for several years, BTC/USD has exceeded US$60,000 for the first time since the beginning of May.

ProShare's Bitcoin strategy ETF was approved, raising expectations that it will make it easier for institutional investors to gain exposure in the Bitcoin market. As the price of Bitcoin doubled and returned to a level above $60,000, it also helped Bitcoin erase almost all losses in the bear market cycle from April to July.

BTC is undervalued?

As Bitcoin became a mainstream financial asset after the first ETF was approved, it has become more and more common to hear a valuation of $100,000.

Morehead cites the popular S2F model, which studies the impact of Bitcoin’s “halving” event on prices, to rule out a similarly bullish outlook for Bitcoin. He pointed out that the first halving reduced the issuance rate of new bitcoins by 15% (about 10.5 million BTC), resulting in a 9212% increase in bitcoin prices.

Similarly, the second halving reduced the supply of new bitcoins by a third (approximately 15.75 million BTC). This resulted in an increase of 2910%, which was almost one-third of the previous time, so the impact on the price of Bitcoin was small.

The last halving was on May 11, 2020, which further reduced the number of new bitcoins relative to the circulating supply. Since then, bitcoin has risen by more than 720%.

Morehead said: "On the other hand, we may not see a 100-fold increase in a year," and added:

The logarithmic display cycle makes me feel that today's price is very cheap.

(The information provided only represents personal views and is for reference only!

And does not constitute any investment and financial advice. Readers, please establish correct currency concepts and investment concepts, and earnestly improve risk awareness)

The Crypto Daily – Movers and Shakers – October 18th, 2021

"A mixed start to the day saw Bitcoin rise to a late morning intraday high $61,475.0 before hitting reverse.

Falling well short of the first major resistance level at $62,077, Bitcoin slid to a late intraday low $59,019.0.

Bitcoin fell through the first major support level at $59,915 before a late move back through to $61,000 levels.

The near-term bullish trend remained intact, supported the latest return to $62,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend"

THE REST OF THE PACK

"Across the rest of the majors, it was a mixed day on Sunday.

Binance Coin and Ethereum rose by 1.15% and by 0.46% respectively to buck the trend at the end of the week.

It was a bearish day for the rest of the majors, however.

Chainlink and Ripple’s XRP fell by 2.55% and by 3.61% respectively to lead the way down.

Bitcoin Cash SV (-1.66%), Crypto.com Coin (-2.08%), and Litecoin (-1.22%) also struggled.

Cardano’s ADA (-0.89%) and Polkadot (-0.20%) saw relatively modest losses on the day, however.

It was also a mixed week ending 17th October for the majors.

Bitcoin Cash SV (-2.26%), Cardano’s ADA (-1.44%), Crypto.com Coin (-1.62%), and Ripple’s XRP (-3.90%) saw red.

It was a bullish week for the rest of the majors, however.

Binance Coin jumped by 16.51% to lead the way, with Ethereum (+12.66%), Litecoin (+12.46%), and Polkadot (+8.69%) also finding strong support.

Chainlink (+3.43%) trailed the front runners, however.

In the week, the crypto total market fell to a Tuesday low $2,210bn before rising to a Friday high $2,606bn. At the time of writing, the total market cap stood at $2,503bn.

Bitcoin’s dominance fell to a Thursday low 44.43% before rising to a Sunday high 46.75%. At the time of writing, Bitcoin’s dominance stood at 46.63%."

FOR THE BITCOIN DAY AHEAD

"Bitcoin would need to avoid the $60,666 pivot to bring the first major resistance level at $62,313 into play.

Support from the broader market would be needed for Bitcoin to break back through to $62,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $62,475.0 would likely cap the upside.

In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $63,122.

Bitcoin would need plenty of support, however, to breakout from 14th April 2021’s swing hi $64,829.0

A fall through the $60,666 would bring the first major support level at $59,857 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, The second major support level sits at $58,210."

This is all from the article, I'm not the author.

, https://www.fxempire.com/news/article/the-crypto-daily-movers-and-shakers-october-18th-2021-789184

Want to put $ on celcius but I am very nervous. Advice needed

I want to put some money on celcius. i Currently have a couple thousand in BTC on the platform just to test it out. Ive also tested blockfi and gemini earn, but prefer celcius.

I've been debating putting a very large amount onto celcius but it is making me nervous. I have read many threads on their security features. I have watched a few AMAs from Alex M. Ive watched and read countless reviews and many many reddit threads.

But i still dont feel comfortable putting 6 figures on the platform, because of the whole "not your keys not your bitcoin"

is there anything anyone can tell me here that i may not have already heard that will quell my fears.

here are my main concerns if that helps.

first im not worried about my personal account being hacked, but in the event celcius gets hacked i feel like im out of luck.

celcius funds are insured, but not after they loan them out.

you can in the future get self insurance, but what if the insurance fund gets hacked too.

any company no matter how big can file for bankruptcy. if they do this after a hack are they obligated to repay our money?

regulators in NJ, TX and KY are cracking down on them. they could just register but don't. why not?

how should a digital nomad keep his bitcoin safe?

How should a single person traveling the world who has adopted the Bitcoin Standard protect his assets? If he has no real house, but is traveling across the world slowly. I cannot imagine anyone would want to travel with anything other than spending cash. How do you protect the rest? How can you really trust anyone?

Is there some good way to create an "in the event of my death" situation using a paper wallet?

Movies about crypto, what crypto movie plots would you like to see?

Throughout the years after watching some of the things that happen in crypto, the events almost movie quality drama. The spats between developers, the rug pulls, bitcoin dominating the world in such weird ways, the crazy things people have done when they get FU money after their coin moons - it has made me think from time to time that there should be a movie made about some of this stuff. Movies that come to mind that would be similar are like Wolf of Wallstreet or the Facebook movie or that Apple movie with Ashton Kutcher. So what movie would you like to see made about what particular series of events in crypto? My personal would be the creation of Ethereum and the drama involved. Or maybe the life of the guy that bought pizza with bitcoin so many years ago. Bonus points if you have specific actors in mind for particular roles.

GME Tokenized Stock and NFT GameStop Marketplace.

GME Tokenized Stock

It’s happening and started to form all the pieces of the puzzle together, in a Data Science there are Data Analytics, where you analyze all the information that can be used to make an intelligent business decision. Then a Data Prescriptive, after the analysis you formulate a plan to implement based on the data structure. And my favorite is the Data Prediction, basically you can predict the outcome based on predictive analysis on a series of data.

If I do the same concept on predictive analysis but instead of a using series of data, let’s use a series of events and facts, for sure we will be able to predict the event that is going to happen. So, what are the facts and the series events related to GameStop (GS).

RC Tweet about the PG-13, Chopsticks in nose, my comment here:

https://www.reddit.com/r/GME/comments/oop0ny/what_rcs_chop_sticks_tweet_is_about/h60agni/?utm_source=share&utm_medium=web2x&context=3

GameStop SEC filing last June 9, 2021 https://investor.gamestop.com/node/18346/html#rom50019_13

Here is the content about the UNITS in Page 13.

“We may issue units from time to time in such amounts and in as many distinct series as we determine. We will issue each series of units under a unit agreement to be entered into between us and a unit agent to be designated in the applicable prospectus supplement. When we refer to a series of units, we mean all units issued as part of the same series under the applicable unit agreement.

We may issue units consisting of any combination of two or more securities described in this prospectus. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. These units may be issuable as, and for a specified period may be transferable as, a single security only, rather than as the separate constituent securities comprising such units.

The applicable prospectus supplement will describe the terms of the units offered pursuant to it, including one or more of the following:

the title of any series of units;
the designation and terms of the units and of the securities comprising the units;
the aggregate number of, and the price at which we will issue, the units and any provisions for the issuance, payment, settlement, transfer, or exchange of the units or of the securities comprising the units;
the date, if any, on and after which the constituent securities comprising the units will be separately transferable;
whether the units will be issued in fully registered or global form;
a description of the terms of any unit agreement to be entered into between us and a bank or trust company, as unit agent, governing the units;
a discussion of material U.S. federal income tax considerations;
whether the units will be listed on any securities exchange; and
any other material terms of the units and their constituent securities.

------------- End of Page 13 SEC Filing --------------------

It’s now starting….

The GME tokenized stock is now trading in FTX exchange in Germany, so what are tokenized stocks? This is a short video, and this Dude did a great job explaining it, remember the Chopsticks tweet when watching this:

https://www.youtube.com/watch?v=rHFb-OQr6rU

Tokenized are stocks that trade on traditional regulated exchanges. FTX lists tokens on select equities. These spot tokens are backed by shares of stock custodied by CM-Equity. They can be redeemed with CM-Equity for the underlying shares if desired.

GME has been listed on several crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, you can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin.

FTX has listed GameStop (GME)

https://help.ftx.com/hc/en-us/articles/360055676272-FTX-has-listed-GameStop-GME-

So, the next question is, ok you can trade using a GME tokenized stock (GME Token or the “UNIT”) but that’s only in Germany and not in the US, what platform and what technology fast enough, secure enough and highly scalable Decentralized Exchange (DEX) that can be processed thousands of thousands of requests per second? The answer is Loopring see their website for details: https://loopring.org/#/

Also why do you think RC hire this guy from Loopring prior joining to GS -it’s so obvious “Duh”.

Former Business u/Loopring, CFA Charterholder

About the NFT.GameStop Marketplace with Loopring.

RC and GS formed an “All-Star” NFT Team, some of the names already available in the public (to name a few):

https://preview.redd.it/waemub8m93u71.png?width=288&format=png&auto=webp&s=62497b3795e06e224a8f6abb08741e6a778b472e

https://preview.redd.it/od6typ8q93u71.png?width=317&format=png&auto=webp&s=40f594c940a9926a3def6c6260bce092f1d8362b

https://preview.redd.it/entrvhvr93u71.png?width=324&format=png&auto=webp&s=e4f8badb6b4cebbe5bb4af2797e293fd73b5b005

https://preview.redd.it/oxscei0t93u71.png?width=288&format=png&auto=webp&s=919e39aec10de3a0e3decf0e663ab7ff2c534625

https://preview.redd.it/4hz6aiwt93u71.png?width=341&format=png&auto=webp&s=3db0d828227f0ec89f9f93b274ce4df3d8d256ec

https://preview.redd.it/37h18rlu93u71.png?width=303&format=png&auto=webp&s=e2a12f8cd3c8ae3eddf54f79800fb289f824e0a9

https://preview.redd.it/87i02knv93u71.png?width=319&format=png&auto=webp&s=22c71b985dc614b532cba713d1261e2d5c94da31

https://preview.redd.it/1u7ldwow93u71.png?width=291&format=png&auto=webp&s=18f822c5a585e12172ac44c9f80a6c17d7a667c2

NFT.GameStop (https://nft.gamestop.com/) –this is the NFT Marketplace where it will run in Loopring L2 Protocol 3.9.0.

(Source Code)

https://github.com/Loopring/protocols/commit/d048fa4019aa640180f041fa2e013c0a3cb8a729

Some information I picked-up from different website:

You can do other based trading on Layer-2. You can also transfer on Layer-2s. Right now, Loopring support ERC-721 and ERC-1155.

And then you have the ERC-20, I believe you have seen a lot of DD about 741 = ERC-721 + ERC-20

[ERC-20 GME Token](https://etherscan.io/token/0xd4596454a0e145842d1319d6921399e8e1622ad7)

[GME Token (ERC-20)](https://etherscan.io/token/0xd4596454a0e145842d1319d6921399e8e1622ad7) - Qty 12,000,000

[GME Token (ERC-20)](https://etherscan.io/token/0x5b7d043ecb3a694069cc01e763159ea1bde0541d) - Qty 69,420,000

Why it exceeds the total number of float shares if GS intension is 1 token for 1 share? if you read the SEC filing, GS stated that they can issue additional units (i.e., Token) “We may issue units from time to time in such amounts and in as many distinct series as we determine”.

NFT Possible Business Uses:

- In-store currency - GME Token can be used as an in-store currency/reward system.

- Crypto swap/exchange - Partner with an established cryptocurrency company to facilitate listing and conversion/exchange between crypto such as USDC or miscellaneous established coins or altcoins, and GME specific tokens. Use a GME app to manage a crypto wallet and exchange between various tokens/coins/currencies.

- NFT Collectibles - i.e., CryptoKitties, Gods Unchained, etc. Facilitate in-person trading (either in-store or via app to app trading) of digital items and collectibles between platforms.

- Digital game licensing - revolutionize DRM by hosting a record of your game license on the blockchain

- In-game item transfer/entitlement - Imagine if there was a way to trade/sell your CounterStrike skins in-person for cash, or exchange a cool knife skin for a new CryptoKitty

For conclusion, going back to Predictive Analysis of series of events and facts, I don’t think I need to spell out the outcome, the next question is when? IMHO, it’s in this quarter (4Q2021) since all the pieces of the puzzle been formed already and announcement can come anytime now.

Friendly reminder: As you know we have been invaded by lot shills, FUD and SHF interns and even Shitadel’s hired professionals as way to demoralize the Apes and trying to counter any DD or even facts by commenting that will confuse or misled others, the best you can do if you read one is to downvote them. I accept constructive criticism and willing to update/correct any misinformation if we have the majority and/or similar intensions. This is an NFA (Not a Financial Advice) – Thank you - Ey

Australian Bitcoin Meet ups

With a bit of freedom on the horizon just wondering what Meet Ups are being organised ?

I'm yet to go to a bitcoin function or event, but getting to the stage where I think I'd enjoy it.

Open to ideas :D

BTC short: Is there an upcoming crash? The analysis. Part 3

It seems like right now I am experiencing a constant time shortage that hurts my ability to get things done. It can be clearly seen that the previous post was published 1 month (29 days) ago

1st part - Examines the current state of the condition

2nd part - Examines the historical performance and behavior of the Bitcoin market

3rd part - Essentially discusses what could happen after the potential crash

Note: I am not an expert, This is not a financial advice

What could happen after the potential crash

Would you like to know how to act after the crash? A lot of traders would like to plan ahead and create a market case-specific strategy for Investing/Trading.

I do not claim that by the end of this post you will know how to act, neither I am claiming that you should act according to this post, but let's examine what could/should happen after the crash and what might be the opportunities to trade/invest in the Cryptocurrency market.

I've decided in this post to take a broader look. It is not only about Bitcoin.

The truth is Bitcoin is some sort of S&P 500 for the crypto market. It is an indication of how the crypto market performs in general. Now, I know that Ethereum by itself also has some influence on the crypto market, but let's just take a look at Bitcoin.

Possible market Bitcoin market behavior after the crash

What would Bitcoin's lowest point be after the last hype? Let's examine

Picture 1. 2013 - 2014 hype

https://preview.redd.it/ep02d39yw2u71.jpg?width=1345&format=pjpg&auto=webp&s=9448f3bcd76f5d05638cf36dbb90f2962f934cd2

Let's draw a Fibonacci retracement from an arbitrary price before the hype to the lowest point after the 1st wave after the all-time high of the hype

It seems like the price sets its lowest point after the last hype at 0.5 Fibonacci retracement level.

Picture 2. 2017 - 2018 hype

https://preview.redd.it/m9989g3zw2u71.jpg?width=1339&format=pjpg&auto=webp&s=65d4c856fc5af408b778e5ce37a8aa644b42d605

The same story goes here. The lowest point after the last hype usually appears to be at 0.5 Fibonacci retracement level.

Also, the price did not go below the all-time-high of a previous hype

Picture 3. 2020 - 2021 hype

https://preview.redd.it/yerv1pzzw2u71.jpg?width=1343&format=pjpg&auto=webp&s=01f82ca70f3c18c4d6359d50c0070241d7b18969

Certain rules can be derived from these findings.

The price is unlikely to go below the all-time high of a previous hype
It is likely that the price will bottom at 0.5 Fibonacci retracement level
The lowest point after the hype is usually below the 1 Fibonacci retracement level

What also can be found is that with each hype the price tops at lower Fibonacci levels than in previous hypes. In 2013-2014 the price was able to reach 4.236 Fibonacci levels, in 2017 - 2017 only the 3.618 Fibonacci level was reached, in 2020 - 2021 the price failed to reach 3.618 level, but stopped halfway through 2.618 and 3.618 levels

It indicates that the hypes are getting weaker with each consecutive hype. The volatility is decreasing

It seems obvious because It is easier to get from 500 $ to 5 000 $ than it is to get from 5 000 $ to 50 000 $ in price.

Fundamental side of the picture

Bitcoin dominance is declining.

Picture 4 Bitcoin dominance index 2014 - 2021

https://preview.redd.it/9zak6kr0x2u71.jpg?width=1342&format=pjpg&auto=webp&s=4ec704b8f23abd9118b2992aa6f90c00873c0f65

This index tracks the Bitcoin market capitalization relative to the compound market capitalization of multiple different cryptocurrencies

Right now, BTC Dominance stands at 44.45%

Bitcoin Community

The community itself is being actively censored, more specifically the r/Bitcoin and other major online forums

I am not going to explain much in detail, but the narrative in the majority of the community is controlled by core developers and other individuals who are interested in keeping the block size of Bitcoin to 1 megabyte or less.

Due to about 1 MB block size and the fact that Bitcoin is designed in the way that each block is being created approximately every 10 minutes, Bitcoin is limited in speed of processing transactions.

How many transactions does the Bitcoin network complete in a second? 7. It processes 7 transactions per second.

Due to the fact that each transaction contains a certain amount of data, There's a limited number of transactions that can be fit in 1 block. Each block is being created approximately every 10 minutes. Bitcoin transactions with the highest fees offered are being processed first. Other transactions with lower fees have to wait longer to be processed than those that have higher fees. This creates a certain kind of competition for "being processed first or quickly", which drives the fees upward.

This creates a big scalability issue and hurts Bitcoin's ability to grow its market capitalization over the long run

Now, there are 2 groups who have specific special interests Bitcoin core developers and big miners

Bitcoin core developers have an intent to keep the block size small in order to force users to use Second Layer solution networks (L2) such as Lighting, Liquid, etc.

Miners are interested more in the "fees competition" style of average fee hike.

BTC short: Is there an upcoming crash? The analysis. Part 3

it seems like right now I am experiencing a constant time shortage that hurts my ability to get things done. It can be clearly seen that the previous post was published 1 month (29 days) ago

1st part - Examines the current state of the condition

2nd part - Examines the historical performance and behavior of the Bitcoin market

3rd part - Essentially discusses what could happen after the potential crash

Note: I am not an expert, This is not a financial advice

What could happen after the potential crash

Would you like to know how to act after the crash? A lot of traders would like to plan ahead and create a market case-specific strategy for Investing/Trading.

I've decided in this post to take a broader look. It is not only about Bitcoin.

Possible market Bitcoin market behavior after the crash

What would Bitcoin's lowest point be after the last hype? Let's examine

Picture 1. 2013 - 2014 hype

https://preview.redd.it/0kr9wxj1y2u71.jpg?width=1345&format=pjpg&auto=webp&s=ab4e1d888b136b6af94f1b7f3e11402ea85c2654

Let's draw a Fibonacci retracement from an arbitrary price before the hype to the lowest point after the 1st wave after the all-time high of the hype

It seems like the price sets its lowest point after the last hype at 0.5 Fibonacci retracement level.

Picture 2. 2017 - 2018 hype

https://preview.redd.it/033efvi2y2u71.jpg?width=1339&format=pjpg&auto=webp&s=c19e9d8959358d0255fd56255b61c26e8a0ff12b

The same story goes here. The lowest point after the last hype usually appears to be at 0.5 Fibonacci retracement level.

Also, the price did not go below the all-time-high of a previous hype

Picture 3. 2020 - 2021 hype

https://preview.redd.it/0anh7oe3y2u71.jpg?width=1343&format=pjpg&auto=webp&s=989781ffdd76ee39cb9b4f275db42302eb546cab

Certain rules can be derived from these findings.

The price is unlikely to go below the all-time high of a previous hype
It is likely that the price will bottom at 0.5 Fibonacci retracement level
The lowest point after the hype is usually below the 1 Fibonacci retracement level

It indicates that the hypes are getting weaker with each consecutive hype. The volatility is decreasing

It seems obvious because It is easier to get from 500 $ to 5 000 $ than it is to get from 5 000 $ to 50 000 $ in price.

Fundamental side of the picture

Bitcoin dominance is declining.

Picture 4 Bitcoin dominance index 2014 - 2021

https://preview.redd.it/4rhqb384y2u71.jpg?width=1342&format=pjpg&auto=webp&s=6808eea484b2d2870b61a2d7674cf983c93a1f52

This index tracks the Bitcoin market capitalization relative to the compound market capitalization of multiple different cryptocurrencies

Right now, BTC Dominance stands at 44.45%

Bitcoin Community

The community itself is being actively censored, more specifically the r/Bitcoin and other major online forums

Due to about 1 MB block size and the fact that Bitcoin is designed in the way that each block is being created approximately every 10 minutes, Bitcoin is limited in speed of processing transactions.

How many transactions does the Bitcoin network complete in a second? 7. It processes 7 transactions per second.

This creates a big scalability issue and hurts Bitcoin's ability to grow its market capitalization over the long run

Now, there are 2 groups who have specific special interests Bitcoin core developers and big miners

Bitcoin core developers have an intent to keep the block size small in order to force users to use Second Layer solution networks (L2) such as Lighting, Liquid, etc.

Miners are interested more in the "fees competition" style of average fee hike.

BTC short: Is there an upcoming crash? The analysis. Part 3

It seems like right now I am experiencing a constant time shortage that hurts my ability to get things done. It can be clearly seen that the previous post was published 1 month (29 days) ago

1st part - Examines the current state of the condition

2nd part - Examines the historical performance and behavior of the Bitcoin market

3rd part - Essentially discusses what could happen after the potential crash

Note: I am not an expert, This is not a financial advice

What could happen after the potential crash

Would you like to know how to act after the crash? A lot of traders would like to plan ahead and create a market case-specific strategy for Investing/Trading.

I've decided in this post to take a broader look. It is not only about Bitcoin.

Possible market Bitcoin market behavior after the crash

What would Bitcoin's lowest point be after the last hype? Let's examine

Picture 1. 2013 - 2014 hype

https://preview.redd.it/xofiq3xmz2u71.jpg?width=1345&format=pjpg&auto=webp&s=b68bf622de72c7da8bb67a43ab22b9747ee75987

Let's draw a Fibonacci retracement from an arbitrary price before the hype to the lowest point after the 1st wave after the all-time high of the hype

It seems like the price sets its lowest point after the last hype at 0.5 Fibonacci retracement level.

Picture 2. 2017 - 2018 hype

https://preview.redd.it/tsyb8iwnz2u71.jpg?width=1339&format=pjpg&auto=webp&s=408064b186a099a815ae7f5329453fcb1ab5fa0c

The same story goes here. The lowest point after the last hype usually appears to be at 0.5 Fibonacci retracement level.

Also, the price did not go below the all-time-high of a previous hype

Picture 3. 2020 - 2021 hype

https://preview.redd.it/gv28k9qoz2u71.jpg?width=1343&format=pjpg&auto=webp&s=9e3e24b91cadba5c006eebd778a3c40ff6d14f30

Certain rules can be derived from these findings.

The price is unlikely to go below the all-time high of a previous hype
It is likely that the price will bottom at 0.5 Fibonacci retracement level
The lowest point after the hype is usually below the 1 Fibonacci retracement level

It indicates that the hypes are getting weaker with each consecutive hype. The volatility is decreasing

It seems obvious because It is easier to get from 500 $ to 5 000 $ than it is to get from 5 000 $ to 50 000 $ in price.

Fundamental side of the picture

Bitcoin dominance is declining.

Picture 4 Bitcoin dominance index 2014 - 2021

https://preview.redd.it/t2ihmcjpz2u71.jpg?width=1342&format=pjpg&auto=webp&s=eab94e97818a7a6f0c2bfb7d06b4b930f05d341a

This index tracks the Bitcoin market capitalization relative to the compound market capitalization of multiple different cryptocurrencies

Right now, BTC Dominance stands at 44.45%

Bitcoin Community

The community itself is being actively censored, more specifically the r/Bitcoin and other major online forums

Due to about 1 MB block size and the fact that Bitcoin is designed in the way that each block is being created approximately every 10 minutes, Bitcoin is limited in speed of processing transactions.

How many transactions does the Bitcoin network complete in a second? 7. It processes 7 transactions per second.

This creates a big scalability issue and hurts Bitcoin's ability to grow its market capitalization over the long run

Now, there are 2 groups who have specific special interests Bitcoin core developers and big miners

Bitcoin core developers have an intent to keep the block size small in order to force users to use Second Layer solution networks (L2) such as Lighting, Liquid, etc.

Miners are interested more in the "fees competition" style of average fee hike.