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    Tuesday, March 13, 2018

    [Daily Discussion] Tuesday, March 13, 2018 Bitcoin Markets

    [Daily Discussion] Tuesday, March 13, 2018 Bitcoin Markets


    [Daily Discussion] Tuesday, March 13, 2018

    Posted: 12 Mar 2018 09:06 PM PDT

    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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Are ICOs Panic Selling The BTC and ETH They Raised

    Posted: 13 Mar 2018 07:34 AM PDT

    Just thinking about where all the selling pressure is coming from. We're all aware of the Mt. Gox coins being sold. But I am wondering if the real selling pressure is coming from all the ICOs that raised money last year and are now panic selling their coins as prices fall. Thoughts?

    submitted by /u/bcryptom
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    What do you think about withdrawing funds from selling btc/eth to bank account?

    Posted: 13 Mar 2018 04:48 AM PDT

    Hi there, I am interested in getting info about bank transfer solutions. Did somebody use bank transfers to withdraw funds after selling btc/eth? Which services do you use? Is it a trustful way to withdraw money? Are there any benefits? Or it is not OK to your mind?

    I will appreciate any kind of information. Thanx)

    submitted by /u/trastra
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    Bitcoin Likely To Surge As Mt. Gox Postpones Sell-off Until September

    Posted: 12 Mar 2018 03:21 PM PDT

    Bitcoin's latest dip has been attributed to Mt. Gox selling off almost 40,000 Bitcoin. Now that the sell off has stopped, Bitcoin is very likely to surge.

    Mt. Gox is an infamous cryptocurrency exchange. In 2014, nearly a million Bitcoin was stolen by hackers. As a result, many people who stored their Bitcoin in Mt. Gox lost all of it. This lead to many class-action lawsuits against Mt. Gox from people who wanted their money back.

    Because of the lawsuits, Mt. Gox is forced to liquidate a lot of its remaining assets to pay off the lawsuits. The most recent crash in Bitcoin has been attributed to this.

    Nobuaki Kobayashi, the lawyer for Mt. Gox, has sold off $400 million worth of Bitcoin and Bitcoin Cash recently, which caused this massive dip. Kobayashi still owns 166,000 Bitcoin, approximately 1.5 billion dollars worth.

    Fortunately for Bitcoin, the next court hearing for Mt. Gox is scheduled for September 18th, 2018. This means Kobayashi and Mt. Gox will have to wait until then for permission from the court to sell more Bitcoin.

    Kobayashi and Mt. Gox have been a constant downward pressure on Bitcoin in the past months, and without this pressure, it is very likely that Bitcoin will experience an upwards surge.

    If you liked this article, subscribe to the blog via email. Stopthefud is committed to debunking FUD and rumours in the crypto world.

    https://stopthefud.wordpress.com/2018/03/12/bitcoin-surge-likely/

    submitted by /u/trontonian
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    2018 Cryptocurrency Crash (Elliott Wave): Fare Thee Well Ten Thousand?

    Posted: 13 Mar 2018 02:18 AM PDT

    2018 Cryptocurrency Crash (Elliott Wave): Fare Thee Well Ten Thousand?

    Crosspost: https://bitcointalk.org/index.php?topic=2711461.msg32180356#msg32180356

    History

    —08-JAN-2018: Elliott Wave, https://redd.it/7ptsg3

    —12-JAN-2018: Crypto Black Monday, https://redd.it/7pxg0d

    —24-JAN-2018: Dotcom vs Crypto, https://redd.it/7skzff

    —21-FEB-2018: Bear Market Resumes, https://redd.it/7z8u6n


    Should the Elliott Wave projection continue as anticipated, then there is a strong possibility that the high of 9990 (Bitfinex) set on 12-MAR-2018 is of quite significance in the following regard:

    i. 9990 is just 46 points shy from 9946 which represents the 50% Fibonnaci retracement of the entire Bitcoin market. Either side of this key level currently defines 'bull vs bear' territory.

    ii. Should 9990 present the top of a significant wave, it would suggest Bitcoin will now never revisit the psychological 10,000 level.

    Elliott Wave speculative model, indicative of price and structure, not time:

    BTC (4-hr): https://i.imgur.com/qF8xxc4.png

    BTC (Weekly): https://i.imgur.com/uAYxiXY.png

    BTC (Daily): https://i.imgur.com/PPkxRD9.png

    ADA: https://i.imgur.com/7PComoR.png

    BCH: https://i.imgur.com/FlaIYSh.png

    DSH: https://i.imgur.com/cFRGDKS.png

    EOS: https://i.imgur.com/FozH1xe.png

    ETC: https://i.imgur.com/X76RSel.png

    ETH: https://i.imgur.com/83Jd6UN.png

    IOT: https://i.imgur.com/n3Hgfg1.png

    LTC: https://i.imgur.com/KOcU1bW.png

    NEO: https://i.imgur.com/onBTIt2.png

    TRX: https://i.imgur.com/7a2Mmq0.png

    XMR: https://i.imgur.com/UBKgoyU.png

    submitted by /u/12345abcde00001
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    Goldman Sachs offers to sell

    Posted: 13 Mar 2018 06:41 AM PDT

    For yesterday, bitcoin noticeably lost, as expected because of the negative sentiment in the market caused by bad news from China and investors continue to sell crypto-currencies and as a result of which bitcoin is declining. Today, one of the largest players in the financial sector, Goldman Sachs, has sent out its clients with recommendations on the market for the cryptocurrency. The newsletter talks about the level of 9,210.00, which is a strong support level and if the price cannot gain a foothold higher, then the probability of bitcoin decrease to the level of 5 922,00 is increased. At the moment, bitcoin is trading below the "Goldman Sachs level" in the range of 9,000.00 - 9,210.00 and events are negative for the market. It is worth noting that 9,000.00 strong support level, and if the price goes lower then it is likely to decrease bitcoin. Coins CREDITS ("CS") follow the general market dynamics, which plays into the hands of medium-term and long-term investors. CS coins are now trading below yesterday's prices at 0.00006 CS \ ETH and on the price chart, you can see a trading range of 0.000055 - 0.000062 CS \ ETH in which the price is likely to hold the time and allow investors to open positions to buy. This idea is confirmed by the number of buy limits of large bids placed on the KuCoin exchange.

    submitted by /u/MostChampion
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    Have You Asked Yourself What It Means the Artificially Inflated Volumes? It Implies Market Not as Over-Valued as Thought

    Posted: 12 Mar 2018 05:42 PM PDT

    As read in CoinLive Daily Recap

    Market Summary

    The crypto market could not find enough buyers to see a bullish follow-through extension on Monday, although Sunday's reversal in Bitcoin remains a valid set-up while $8.4k support holds. Bitcoin closed at $9.2k after a failed attempt to break the $10k immediate resistance. The best performers of the day included Cardano, NEM, and VeChain, all hanging onto recent gains, while the rest of Alts saw losses of 4 to 7% on average in the last 24h. The (artificially) market value stands at $470b.

    The total number of transactions was quite uninspiring. Whether or not it had an impact, it's worth noting that an article titled 'Chasing fake volume: a crypto-plague,' by crypto-trader Sylvain Ribes, garnered plenty of attention. The report includes publicly available data to create a model in which it reveals how much of the trading volume in popular crypto exchanges is non-existent. The findings were astonishing, especially on the Chinese-based exchanges OKEX and Huobi, but also in Binance.

    "A bit of wash trading and artificial volume inflation is to be expected in a thoroughly unregulated market. What I did not expect was the magnitude of the fraud," Ribes writes.

    As much as $3 billion dollars of daily volume could essentially be nonexistent. The report may have certainly had an impact on the overall confidence of participants, as it'd suggest that the market is artificially inflated by a large margin.

    In the short-term, as any news with negative connotations, it may lead to uncertainty and loss of trust but it definitely adds to the bullish macro picture, as it implies the market is nearing under-valued levels based on a logarithmic regression non-linear chart.

    ![](https://www.coinlive.io/ckeditor_assets/pictures/339/content_2018-03-13_0703.png)

    Throw into the mix the recent findings by Fundstrat Global Advisors co-founder Thomas Lee, who recently stated how depressed the bitcoin misery index is. Lee hints that we are nearing a great time to be invested in Bitcoin, if only based on his proprietary index.

    "Think of this index as a way to measure how happy or sad you are owning bitcoin. As of Friday, the index was around 18.8 on a scale of 100, telling us that bitcoin holders are miserable right now," Lee said and added that "when the bitcoin misery index is at 'misery' (below 27), bitcoin sees the best 12-month performance. The last four times this was below 27...there was not a single instance with bitcoin not up 12 months later."

    "The index is telling us, it's really tough to own it for the next week or even two weeks, three weeks. But we're getting through this," Lee concluded. Think about it for a second, the misery is the lowest it's been for years and yet Bitcoin was until a few hours ago re-testing the $10k level, food for thought.

    What would the value of Bitcoin and the entire market be like when the index recovers its footing? As we like to reiterate, think on the big picture.

    submitted by /u/Ivo333
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    I created strategy conditions that leaned bearish or bullish and performed backtesting on 2018 data and data prior to 2018.

    Posted: 12 Mar 2018 01:59 PM PDT

    Bearish-leaning criteria backtested on data prior to 2018:

    https://imgur.com/a/PKGgI

    Bullish-leaning criteria backtested on data prior to 2018:

    https://imgur.com/a/hGvPy

    Bearish-leaning criteria backtested on 2018 data:

    https://imgur.com/a/qnSZi

    Bullish-leaning criteria backtested on 2018 data:

    https://imgur.com/a/MvAop

    Based on these data, what is suggested is that the current market conditions of 2018 are not bullish and does not confirm that the market is currently bearish.

    Edit: Old flair

    submitted by /u/_simpelyfe
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    Another attempt to dump the crypto-currency market.

    Posted: 13 Mar 2018 01:09 AM PDT

    The first day of the trading week in the market, the cryptocurrency is in green. Over the past two days, bitcoin 0.78% has grown and returned 15% of the decline that occurred last week, when the market was under pressure and fell by 26.8%. Now bitcoin 0.78% is in the range of 9,500.00 - 10,000.00 and according to the technical analysis the chart gives signals to consider short-term purchases, but not everything is so simple. A week later, there will be a meeting of the finance ministers of the G-20 countries to discuss issues related to crypto-currencies. This can be defined as the main reason that motivates investors to buy now. On the other hand, the idea of buying can be questioned because of the news, which once again came from China. Yesterday, it became known that the Chinese authorities blocked access to the ""Binance"", ""Bitfinex"" , and ""Gate.io"" crypto exchange exchanges, news media reported. It is worth noting that the market did not pay attention to these messages and bitcoin 0.78% continued to grow. Probably it was another attempt by ""big players"" to artificially influence the moods of small and inexperienced investors that would motivate them to sell their coins, on which the ""big players"" and gaining their portfolios large volumes. At the moment, for bitcoin 0.78% , you can determine strong resistance at 10 000.00 - 10 100.00, from which the price may continue to decline If will appear is more negative news on the market. Trade active: The coins of CREDITS (""CS"") last week, like the rest of the altcoins, experienced the influence of negative speculative sentiments and fell to 0.00058 CS / ETH, which immediately began active buys by investors and speculators, as a result of which the coin grew to its previous levels. At the moment, ""CS"" is trading in a narrow range of 0.0008 - 0.0009 CS / ETH and investors are now waiting for further developments. It should be noted that the level of 0.0008 CS / ETH can be considered as a strong support level, and the range 0.0007 - 0.000825 as a good level for purchases by the strategy of long-term investors who are now rushing to buy at good prices in anticipation of the G20 meeting.

    submitted by /u/LowProduct
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    I built an arbitrage tool that tells you which exchange to buy from and which to sell with a built in alert system

    Posted: 12 Mar 2018 01:34 PM PDT

    Introducing Red Lanterns project

    Posted: 12 Mar 2018 10:21 AM PDT

    Sex as old-fashioned taboo

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    To achieve our goals we promote the implementation of the 4th item of World Association for Sexual Health (WAS) "The universal access to comprehensive sexual information and education". And the most efficient way to do it is to put RL into action.

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    Red Lanterns project is a unique service that provides confedentiality of personal information and personality, security of transactions ensured by blockchain and smart-contract in Escrow service, truthful reputation of both experts and clients, a personal virtual assistant –chat-bot that helps you find an appropriate expert and achieve individual goals, educational content, which is accessible for everyone to rise level of sexual education.

    submitted by /u/progressinworld
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    Why Bitcoin is Likely to Fall a Lot More

    Posted: 12 Mar 2018 03:49 PM PDT

    Traders in South Korea put 1 billion into exchanges in 2017. They are trading 12 different crypto currencies on bit-thumb. The bankruptcy trustee just removed 400 million dollars from the markets.

    That amount of money represents a substantial percentage of the available cash that is needed to support the price at current levels. A huge part of the move was from new accounts buying into coin and there being a larger demand. An increasing amount of money chasing the same available supply.

    The reason that the alt-coins matter is because that money is split up and has to support multi-billion dollar valuations for all of those coins that have real trading happening in them.

    The price ratios between the alt-coins and bitcoin are breaking down. Ripple used to trade during the peak of the bubble at about 400-1 ratio to bitcoin. It's now trading at a 1200-1 ratio.

    I think it means that the alt-coins are being sold off more quickly than bitcoin and although both prices are falling over time the price of bitcoin is holding up better. I think a lot of the cash from the alts being sold is going into bitcoin but not enough cash to increase the price. Only enough to slow the pace of the drop. When that cash stream from the alt-coins runs out that is when bitcoin will start falling much more rapidly fueling even larger drops in the alt-coins which will have already been decimated. I expect as the prices become really attractive that new money will enter the market. Enough to stop the declines and causing a large bounce. Bitcoin should hit bottom within the next 2 weeks imo at about 4400.

    submitted by /u/olesentv
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