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    [Daily Discussion] Saturday, February 03, 2018 Bitcoin Markets

    February 03, 2018

    [Daily Discussion] Saturday, February 03, 2018 Bitcoin Markets

    [Daily Discussion] Saturday, February 03, 2018

    Posted: 02 Feb 2018 08:06 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

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    submitted by /u/AutoModerator
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    Buy and Hold 100 Cryptocurrencies for 5 Years - Week 8 - $918 USD / 91.84%

    Posted: 03 Feb 2018 01:26 AM PST

    It's the 8th week since the experiment started, and guess what? I'm still making a profit 🙂

    What's happening in the crypto world it's just unbelievable. Seems like everyone is against it and doing whatever is possible to put it down, we had previously the re-Ban from China, all the FUD about South Korea, then this week India going heavy on traders, Facebook and Google not allowing any more adds about Cryptos and lastly Bank of America not allowing any more to buy cryptos with their credit cards. To don't even talk about the majority of the exchanges not allowing anyone to make new accounts and some of them adding absurd fees to deposit, as if their heavy fees on withdrawals weren't enough. What I find absurd is that a few months ago there was a lot of FUD about how slow and expensive it was to send BTC, and now that the Lighting Network is finally out, with more than 1000 active nodes, making BTC transition super quick and cheap, the price is at the lowest since November 2017! Does all this make sense to you???

    Bitcoin (BTC) price is at the moment $8,633.14 USD. and the dominance is 35.2%, a bit more since last week.

    The unrealized gain of the experiment is $918.44 USD or 0.11 BTC. After this massive catastrophe, I still consider myself lucky, if I would have kept only Bitcoin the value would have been now less then half. This week 25 Cryptocurrencies are in minus since the beginning of the experiment.

    With an overall gain of 91.84 %, the 100 cryptocurrencies together (CryptoETF100) performed better than 62 cryptos from the ones I have.

    Let's talk about our Top5 cryptocurrencies.

    Tron (TRX) is for the 5th week in a row the best gainer. Eight weeks ago I bought 2500 TRX with $10.04. 2500 TRX are worth now $209.22, a gain of 1984.58 % TRX gains are by far what it used to be a few weeks ago, but surprisingly it's still performing well. This week brought TRX two new exchanges, Huobi and Cryptopia. Plus a new cooperation with Peiwo.

    Vechain (VEN) is still second on the Top5 . With time VEN is being recognized as strong and stable crypto, new cooperations keep coming and they just announced a new partnership with iTaotaoke. Will the upcoming rebranding on February 29th make VEN skyrocket?

    Verge (XVG) keeps up being on the 3rd position with an overall gain of 566.01 %.

    0x Protocol (ZRX) is still in the 4th position. With all the hacks happening on centralized exchanges ZRX could be the solution, therefore a lot of investors are jumping in.

    Lastly, on the 5th position, I have a new entry Aeternity (AE). If you didn't know and wondering what Aeternity is, AE a scalable smart contract blockchain technology, which interfaces with real-world data. It uses a scalable and trustless turing-complete blockchain and combines proof-of-work with proof-of-stake for a peer-to-peer decentralized global network of nodes. With a gain of 345.39 % it looks like it will be here to stay.

    Top 5 cryptocurrencies so far :

    Tron (TRX) +886.53 % , from $10.04 to $99.01 VeChain (VEN) +779.24 % , from 10.11 to $88.93 Verge (XVG) +566.01 % , from $9.62 to $64.07 Ox (ZRX) +423.82 % , from $9.99 to $52.32 Aeternity (AE) +345.39 % , from $10.35 to $46.12

    Worst 5 cryptocurrencies so far :

    Next (NXT) -63.37 % , from $9.89 to $3.62 Pura (PURA) -63.58 % , from $9.62 to $3.50 Mona (MONA) -54.62 % , from $9.76 to $4.43 Einsteinium (EMC2) -80.12 % , from $9.51 to $1.89 Bitconnect (BCC) -98.32 % , from $9.93 to $0.17

    Article : https://buyandhold100crypto.com/week-8-918-usd-91-84-gained/

    submitted by /u/Anthony1985
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    Margin Trading w/My Own Money

    Posted: 03 Feb 2018 07:52 AM PST

    Hi, I read GDAX requires $5mil to do margin trading, which I don't have. Are there exchanges that allow you to do margin trading using your own funds? I thought maybe Bitfinix would, but every time I login, I get a pop-up saying they're stopping service to US customers, so that's off the list. Thanks!

    submitted by /u/rajsharma714
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    Things may be stabilizing for now, Bitcoin did solid

    Posted: 02 Feb 2018 11:35 PM PST

    The best performing top-10 coins from peak to current price are Ethereum, NEO, and then Bitcoin.

    I'm glad to see bitcoin was the best among other "money" currencies. Measuring about with bitcoin -57%, BCH -73%, LTC -66%.

    Ideally we want things to shake out and to see consolidation to bitcoin (at least against other store of value currencies), so hopefully that's a continuing trend.

    submitted by /u/nowTHATScomedy
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    Moon Math Update - 2018-02-02

    Posted: 02 Feb 2018 12:10 PM PST

    The Last Great Bubble

    Go to http://moonmath.win for the full update and rainbow charts

    Taking a different approach today. I Published the Moon Math rant on tradingview with the analysis you see below. Today's wild speculation needs visual assistance to make much sense, and Trading View seemed the most practical way to communicate these ideas in a way that allows you all to call bullshit on me in a month or two.

    Trading View: https://www.tradingview.com/chart/BTCUSD/HU1Vsylx-The-last-great-bubble/

    Currently:

    Bitcoin is in a period of consolidation at the bottom of the long-term channel. Movement will seem sideways and down until indicators signal the next wave of adoption. Sentiment will remain low.

    A : Medium-term consolidation

    Resistance to growth remains through February and part of March while bearish and moderate performance causes increased price stability. Two descending wedges are broken before bullish sentiment can return.

    B : New ATH sometime between May and July 2018

    Two descending wedges are broken--drawn from the 2017 ATH and the January 2018 breakdown—and moderate to bullish sentiment pushes bitcoin to a new ATH. ATH is established somewhere between 20K and 28K USD. A new wave of adoption from new markets is identified. Full capitulation from alt market speculation exposes frivolous Crypto Assets.

    The ascending wedge between the 2017 and 2013 ATH is difficult to break. It's EXTREMELY LIKELY that following scenarios take an additional 10 months. Price targets for an extended scenario are substantially higher.

    C : Price is pushed over 50k sometime between June and August or as late as November 2018

    Bitcoin's user base rapidly grows. It's fueled by new growth and a new wave of users. Segwit and Lightning adoption demonstrate 100x increase in possible transaction support while significantly decreasing transaction fees. LocalBitcoin processes 20 to 40 million USD in transactions daily. Press praises Bitcoin as a tool ready or nearly ready for "Main Street." A use case for Lightning in retail businesses is implemented in some markets.

    D : Bounce off the top of the channel between July and October, or as late as March 2019

    The speculative fever lasts and Bitcoin hits the top of the long-term channel for the first time since November 2015. The new ATH is somewhere between 90k and 200kUSD. The extended scenario sets a price target of 500k USD.

    Hitting the top of the channel signals a long-term bear market and moves the price into a comparatively moderate range, well under 100K USD. Bouncing off the top of the channel completes before speculation about the halving takes hold of sentiment in early 2020.

    By the end of 2020, 1 million USD price targets are commonly issued from established financial institutions in the United States.

    Good hunting

    Principles

    • Buy low
    • Sell high
    • Build your position through periods of consolidation
    • Markets that are oversold are markets that quickly correct

    Go to http://moonmath.win for the full update and rainbow charts

    Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
    Starting Price USD $11,137.24 $14,740.76 $11,180.89 $7,161.45 $997.69 $434.46 $313.92 $770.44 $13.30 $5.27 $0.30 $0.09
    Compounding Daily Periodic Rate -2.92% -1.61% -0.35% 0.26% 0.56% 0.40% 0.30% 0.17% 0.35% 0.34% 0.40% 0.42%
    Over $10,000.00 on Never!!! Never!!! Never!!! 2018-03-11 2018-02-17 2018-02-24 2018-03-04 2018-03-31 2018-02-26 2018-02-26 2018-02-20 2018-02-18
    Over $25,190.00 on Never!!! Never!!! Never!!! 2019-02-28 2018-08-02 2018-10-13 2019-01-07 2019-10-11 2018-11-15 2018-11-29 2018-10-10 2018-09-26
    Over $100,000.00 on Never!!! Never!!! Never!!! 2020-08-10 2019-04-06 2019-09-24 2020-04-13 2022-01-23 2019-12-12 2020-01-13 2019-09-20 2019-08-20
    Over $1,000,000.00 on Never!!! Never!!! Never!!! 2023-01-10 2020-05-22 2021-04-22 2022-05-24 2025-11-16 2021-09-26 2021-11-29 2021-04-18 2021-02-17
    submitted by /u/jarederaj
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    Do you guys think bitcoin will go back up soon?

    Posted: 02 Feb 2018 10:05 PM PST

    At this rate , Tether will be a top 10 coin on market cap

    Posted: 02 Feb 2018 08:18 PM PST

    As of right now , it's sixteenth on the list , i think the down trend will be over once it join top 5 coin market cap

    submitted by /u/alexaligh
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    Well, today is a happy day.

    Posted: 02 Feb 2018 01:22 PM PST

    The Coinbase bitcoin has now crossed under the 30% mark for the RSI.

    I'm not a super knowledgable technical trader, and I know the past doesn't predict the future.

    But for the last several years and in almost every stock on the stock market, when the RSI dips below 30%, it is followed by a huge run up. This might be it.

    submitted by /u/mining_story
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    Btc bottoming

    Posted: 02 Feb 2018 03:28 PM PST

    The 2018 China Dip Theory

    Posted: 02 Feb 2018 11:49 AM PST

    I have no way of confirming this theory, but maybe between us we can.

    I believe this whole firesale was driven down by.... Chinese investors. Again... But if so, then for the last time.

    From this week going forwards, the Chinese may be limited to decentralized trading only, which will make moving from Fiat to crypto extremely hard on them.

    Here's the logic on this: We know that tons of Chinese were in love with bitcoin from back before Jan 2017 when the exchanges got swatted down. It was the highest-volume country in the world for trading bitcoin, and bitcoin was the country's lowest-friction way to get money outside of the country, a task the upper-income Chinese seem to all do before they even buy a nice car.

    Then the PBoC kicked the exchanges out and eventually put foreign exchanges' IP addresses on the great firewall's list. It was getting harder and harder over 2017 for those who had their money in bitcoin to trade it, and of course those who had yuan to buy bitcoin with.

    Two major options for them were to trade through Korea and Japan. I don't know if they needed bank accounts in those countries or not, but in each case, as the rules in those two countries got stricter, you could see their BTC trade volume drop a lot as Chinese investors got denied service at each of them.

    The latest was Korea, just 3 days ago. (jan 31st) Here's the result: https://news.bitcoin.com/south-korea-ends-anonymous-cryptocurrency-trading/

    Apparently a TON of investors were trading on Bithumb that haven't come back to trade since. (Check out that huge volume drop!)

    I think that may have been the last best way for Chinese bitcoin owners/traders/miners/addicts/hodlers/bagholders to use any kind of centralized exchange to go back and forth between fiat and crypto. That would explain so much money exiting the cryptoverse over the last few weeks. (Of course many Koreans would be a part of the same exit.)

    How can we confirm/put to rest this theory? Any Chinese or Korean investors about who can confirm or deny how money was or is routed through Korea and what options are available to the Chinese now?

    Of course this isn't truly important, the money is already gone, but we really should name this dip something more specific than "the Jan 2018 dip."

    submitted by /u/Coinosphere
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    Hedge Funds went short BTC Futures (Feb. 2 CFTC Report)

    Posted: 02 Feb 2018 12:58 PM PST

    What is actually going on? (Serious)

    Posted: 03 Feb 2018 02:32 AM PST

    We are doing fine on the week-end. So that means those dips and crashes were coming from institutionnal money...

    Governements? Wall Street? Someone affraid of incoming regulation?

    Or is it Satoshi himself disgusted by what Bitcoin has become and trying to kill it?

    I'm not a fan of conspiracy theory. But I find it hard to believe that it is just because ''January" and I'm affraid it will dip again on Monday.

    And could it actually go to zero or 1000$?

    submitted by /u/Parmigiano-Regiano
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    Huge list of airdrops and Bounties currently going on. List contains description, as well as non-referral links if you prefer to use those instead of referrals

    Posted: 02 Feb 2018 08:33 PM PST

    A trusted site to buy amazon gift cards with bitcoins?

    Posted: 02 Feb 2018 08:26 PM PST

    I did a research but im still not sure and i dont want to get scammed. If anyone knows a trusted place to buy amazon gift cards with btc please let me know. Thanks :)

    submitted by /u/AlexSNL
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    Does anyone use a crypto trading bot? If so do they work?

    Posted: 02 Feb 2018 12:10 PM PST

    Changing portfolio do it now or wait?

    Posted: 02 Feb 2018 03:02 PM PST

    I want to change up my portfolio. Rebalance or whatever. Is now a bad time to do this? It would be selling low but at the same time buying low. I know it would have been better to sell at the higher price then wait for a dip to buy in but I feel like swapping things around now and being in a good position for any bull run is a better plan. Any advice is appreciated!

    submitted by /u/guismo5908
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