We took a hit and some major ups and downs over the last 5-6 months however lately we have seen a number of positive things coming from governments, regulations and exchanges registering with governments. We even saw flat out bans on some cryptos like Zcash but then when discussed with government saw it added on to one of the leading exchanges here in the USA called Gemini.
Some cryptos even took it harder then bitcoin over the last few weeks such as bitcoin cash, EOS, ICON, NEO and a few others.
But could we be primed for the big one? The one that skyrockets prices of bitcoin to $25,000 +
Lets dive in...
Current trading volumes are actually pretty low and being low you will get some swings in either direction because the volume is not there to hold it at those levels. For now the outlook in terms of volume is rather neutral and suggests we will continue to see $8,000 - $9,500 levels.
Adoptions are still early, we are getting some regulations and some traction and movement in the governments with how everything will work. There is still a grey area however which has not been spelled out. However moves such as those by adding ZCASH to Gemini and Coinbase working with large investors and government seems like we are on the right track. However even there is grey area here that lingers which will hold investors off.
So yes we are towards it but are we primed? I have a feeling we are still a few months away from the big one. Till big money is poured into bitcoin. Which means right now and the next month or two are instead prime times to buy in while the getting is good!
- Please note this is my own personal opinion and not professional advice, be responsible for your own decisions and investments and do your own research. (Yup you are responsible for your own actions people!)
*Image pulled from https://medium.com/santiment/introducing-santiment-a-better-way-to-trade-crypto-markets-ef40c4a5c93c
Ouch, I thought so, but we just dropped under 8K again :(
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Crypto can’t go on like it is. It will either reach mass penetration or it will fail. It won’t survive as money for geeks forever!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Crypto is more than just currencies. The term "currency" is misleading. There are many ways to adopt crypto into various fields of business. And I am sure we are just beginning to realize a small amount of potential use cases. It will take time to reveal the ful potential and get rid of the abuses.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed. Big companies are reviewing blockchain adoption and may well take it forward. There is talk of a Facebook currency based on blockchain. If that was implemented it would remove the use case for many existing cryptos and if implemented well, would have a captive user base of around 2 billion instantly! Food for thought!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Facebook is an interesting example. It has the potential to build a currency in support of its own ecosystem. But their advertising ban of cryptos could become questionable in terms of competition law. If it would get mass adopted is questionable too, given the privacy-scandal. The topic you bring up here is defenetly interesting and worth a post discussing these issues and more.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think their ad ban is to avoid being sued by people who lose money to one of the many scam ICOs.
I think Facebook could implement a currency which would be adopted by a large portion of its users. If they integrated it to their site and made it simplistic at the front end it would likely launch in top 5 of cryptos. At present crypto is too complex for mainstream use. It is used by geeks and speculators (who never take it off of exchanges). If Facebook (or similar) could integrate a currency they control, to their platform, I think it would be widely used. Imagine sending your niece money for her birthday, pay local bills (gardener etc). 2 billion people have a Facebook account so no need to create new accounts etc. Massive benefits.
I think the only reason they haven’t done it yet is because of legislation. They will want to thrash out all the legal issues first.
I would love to look into this in more depth but I just don’t have the time unfortunately.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That is the publicly communicated reason for the ban. They could be sued by law-abiding ICO's as well. No one is guilty until proven otherwise. The presumption of innocence does apply for ICO's too. So whole argumentation smells like discrimination. You could also argue that the ban and an upcoming issueing of an cryptocurreny , is a breach of competetion law and an abuse of marketpower. As I wrote, it's worth an own article.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think that their legal duty to protect customers from scams will easily outweigh any perceived conpetition law issues. ICOs are not cyypton but a token representing an investment. And coins are usually not owned by any one company, so I don’t see who could complain about competition. Start ups don’t usually generate funding by advertising share issues or bond issues on Facebook so why should they be forced to accept ads from ICOs, the vast majority of which at best have no viable product, business case or plan and at worse are blatant cons.!i think that bitconnect exposes just how easy it was to generate huge sums of money whilst running an obvious scam and if Facebook continued to tacitly endorse it by running ads promoting it, they would be sued!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is very good news that your government stands with cryptocurrencies. But we are the Indian crypto investors and and all related with cryptocurrencies dealing going through a very hectic situations. Here, our apex bank that is Reserve Bank of India has announced that all banks dealing with cryptocurrencies should complete their transactions within July 6th. When the circulation of Bank has passed all the users are in great puzzle that what to do next. Some small exchanges moved to apex court with their petitions. But all was in vain, apex court fixed it's hearing date to this issue and stopped receiving any petition filed against cryptocurrencies.
I don't understand why our government is standing against cryptocurrencies which hold a great potential in present world of globalisation. It is said that in a country like India half of poverty could be eradicated permanently by giving access to cryptocurrencies. Moreover, our people specially the youths will not depend on government to earn a sophisticated life. Specifically steemit helps our youth to unite and discuss various important issues. Instead of banning cryptocurrencies, why shouldn't they ban some worthless social media like Facebook. Instead of motivating youth to become independent they demotivate youths and make their slaves to work under the government. All government bodies like banks and it also seems that the apex court which is a constitutional body stands in the favour of government. All these political calamities greatly annoys me the most.
They ban cryptocurrencies by giving some valueless points. It is said by the deputy governor of Reserve bank that using of Blockchain technology will lead to money laundering and also increase terrorism. Do you think such problems will occur if they give access to crypto.?
I liked your post, you explain it in a layman language which help us to understand. Thank you for sharing your knowledge.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Maybe they'll be another 'big one'. maybe not. but everyday people will have to buy it, for some reason.
I've started thinking of maybe putting everything into Steem, as it's the only crypto/blockchain I actually use. And new developments like musing.io. etc. Maybe keep some bitcoin cash tho. Any thoughts?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah over the past few days , Crypto had it hard. Steem wasn’t exceptional and others had it way so hard. Things are becoming brighter and joy awaits with the lunch of SMTs . Things are really looking good and the consensus gives rise for hopes.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Not Yet. IMO. We need some Panic!!! Very high uncertainty in this range. Sentiment is still too bullish for bitcoin and others to break upwards...We are going to get the washout to shake out the weak hands and then rip back up.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
There are 2 important trends developing right now:
Crypto custodians - like coinbase and some banks will allow for safe storage of your cryptos, with insurance I guess.. this will attract more serious money.
USDC - a replacement from Goldman Sachs for controversial USDT (whoever makes it - unclear, no transparancry or audits). This erc20 token / stablecoin will let you weather the storm on downtrends in the future.
Brace for impact. :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agree there are big things happening but I still think we are a few months away till they actually go into effect. Just the way governments are etc they move extremely slow and that's currently what we are waiting on.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I've started thinking of maybe putting everything into Steem.Let's go crypto! I think that we are close to the big gains that we've been craving.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Coins mentioned in post:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree that volumes are quite low and candles in 5 minute timeframes have shown sudden jumps in volume and price. I think accumulation is on and we may see another price jump (10% or so) soon just like we saw in sub 7k area. There has been promising development on the institutional side. Regulation is the only thing preventing a large sustained jump in prices. My opinion is things will turn around in 3 months, at least for bitcoin.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is correct, a lot of things are still yet to be put in place, which will prime us once again for a while then another dip! Is anyone following me
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Interesthing post thnx for share it with us
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think your opinion is right, but many people may not agree with your opinion, it is only their personal.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
hello, i like this post, i voted for you, i have followed you, hihi you, i have a private blog about coffee in steemit, maybe you like, i will share your opinion You will know there are many good things about my coffee blog, follow me, and vote for me, thank you, make a funny steemit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Let's go crypto! I think that we are close to the big gains that we've been craving...it only makes sense right now! Consensus 2018 is over...let's get some value!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes i am agree with you but governments arw doing some official measurements thats their right
Yes from the last 6 month people have bear hard time and still its going
We have to show some patience and do some hard work and after all we will get a healthy reward thank you for the advice and measures....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@bitcoinflood The big move will occur after all the investment funds have a piece of the pie. A more likely for cheap, not at current prices.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
en los últimos días, Crypto lo tuvo difícil. Steem no fue excepcional y otros lo hicieron de forma muy difícil,Crypto es más que solo monedas.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great insight on the market. Thanks for sharing. Resteemed and follwed.
You're right, new money is waiting on the sidelines right now. We won't see a major bull run until the SEC provides more regulatory clarity. In my opinion, once that happens, we'll see new money enter at a rapid pace. This may lead to a bull run that'll make 2017 look like nothing.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Awesome post! I made this image with the 3D steemit logo so you can use it in your cryptocurrency posts! here's the link to my post . images are clean and completely free! just make sure to upvote! have a nice one!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Why do you think we are primed for a big one let me know ?
The market seems to be stagnant for the moment?s
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What are your thoughts on komodo as i hear it is on the zcash chain? Or fork?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit