Well 2018 is off to a rough start where we though we would be at 20k + instead we have reduced to 10k + pushing us way back.
Instead of getting better clarifying judgments from government we are instead left confused with random take downs of exchanges and still no clear cut what is bitcoin and other cryptos to them.
Could this simply be governments fighting back to something that is starting to seriously threaten that top 1% ? and if so is it not our job to be more supportive then ever to bitcoin and other cryptos ?
It seems like we are on this negative trend and perhaps a few players that have been manipulating the price of a number of cryptos over this first month in 2018.
One thing for sure though is bitcoin will never become fully adopted world wide for everyday transactions. Unless they pull off lighting network here soon which could seriously lead to the biggest mass adoption of bitcoin to date. No more transaction issues, high fees etc. the system would become unclogged in one fell swoop.
But will this happen? and will it happen soon enough ?
Only time will tell but it needs to happen soon if bitcoin is ever going to become a powerhouse again and help boost every other crypto.
Because of the delays many companies are now backing out of trying to work with bitcoin (and let me remind you they have no desires at all to work with any other crypto.
I personally still expect to see BTC dip to close to the 8k level in the coming days (Jan 24-26 due to 5 year BTC crash pattern which happens 23-24 days prior to Chinese New Year annually this year landing on Jan 24-25 + the first CME short positions expiring on Jan 26). From here I expect a bounce back to above 10k levels fairly quickly forcing BTC into a 10-12k channel for the beginning of Feb, finally breaking out of this in mid Feb to just above the 14k mark which will act as a new bottom level of support going forward as BTC moves back towards record highs in March/April (~20k) and beyond in the months following (~40k in July/Aug). Interesting times!
The current dip has more to do with the CME shorts then anything to be honest (but the timing also overlaps the Chinese New Year cycle + a natural correction cycle). Lots of people manipulating the market for their own gains at the current time...
I guess you can call it the "10 easy steps to 10x your money by manipulating BTC on multiple fronts".
Long story short, expect a dip to ~8k in a few days , and then expect the downward pressure on BTC price to suddenly stop (~14k feb, ~20k april, ~40k july/aug) as they ride the wave up with the same method only in reverse (with many times more value in play).
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I'm fairly certain you nailed the futures manipulation game, but those dirty politicians in South Korean did a lot of damage to investors' confidence with their FUD, not to mention the so-called "raid" of the South Korean exchanges.
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I think you're right, but I think that the cause of the drop will come from announcements at the World Economic Forum in Davos, Switzerland. The Central Bankers of the World will be looking for a consensus on taxation, transfer, and regulation.
Really hope your predictions of a $40k BTC by August are correct!
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you will hear less talk of bans and more talk of strict KYC in the coming months. Right now its all about closing the tax haven gaps in the space, other then that governments worldwide are ready to embrace the crypto space as a whole. IMO the coming Amazon exchange launch is going to add a shit ton of legitimacy to the space (which will also be used as the largest lightning network hub), and once this take place all the fear of "cryptos are going away" will be squashed and the masses will start pouring into the space with this new found confidence in the cryptos as a whole.
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Definitely will rock if Amazon accepts crypto as payment.
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Besos will be the new Boogie man of the Right once Soros is gone. Especially if he threatens central banks by promoting decentralized cryptocurrencies!
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This is a great article.
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now bitcoin is the main to transfar money from online
it is very important to also streemit
thanks for sharing
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wow nice post man interesting also ......
your every post larnable thanks for shere this amazing post love to read it....
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Well for the United States citizen banking with the US Banking system, Bitcoin transactions ARE lightning speed. It takes 3-5 business days to WIRE funds back and forth between banks. Weekends? You can forget it. Sending funds to someone and you guys are using the SAME bank . . . . hours, if not a whole day. We are still using the antiquated ACH system. (I should write a post about this system huh?) The few hours that bitcoin task to confirm transaction "when it gets bottleneck" (loads of traffic) is an vast improvement for the people of the United States!
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In my opinion, in Asia the speculations are increased regarding bitcoin, and lot of confusion is going on and this confusion would be effecting the market. Thanks for sharing.
Have a great day and stay blessed.
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Exactly, I was expecting btc to hit 20k to but reverse was the case
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Normal market cycle.
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I believe that Bitcoin will find it's level around here for a while. Factors like transaction fees will hinder further growth.
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I think Bitcoin will do well this year as also most cryptos, especially I hope Steem. Bitcoin sure needs to have faster transactions and with lower fees.
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Yeah we are definitely some time away before not all other cryptos rely on BTC. Still a huge increase over last year and I’m not worried about it only being $10,000!
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que viva el bitcoin !!
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i think boom...
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There are better days ahead. Btc will rise again.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Valor2S from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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I try to think long term. There has been so much movement in price but if you look back we weren't even 10k for most of last year. In the long run I still have confidence bitcoin will do well.
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Bitcoin adjustment had to come, it appears normal after big players rocked the boat.
Agree the whole system needs to revert to faster and cheaper transacting times. This should become apparent during this year, being the front runner, tackling new obstacles as they appear you can understand the problems.
Smaller crypto gains knowledge by keeping tabs on what happens to this forerunner coin IMHO.
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I think it's about to boom! A boom like no other!
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