[Daily Discussion] Tuesday, April 24, 2018 Bitcoin Markets |
- [Daily Discussion] Tuesday, April 24, 2018
- More Lightning Network Nodes Than Bitcoin Cash Nodes
- Are you guys celebrating yet or do you think that this might be a big bulltrap?
- Bitcoin Analysis: Breakout of $9k, Exploring the Main Drivers
- AMA/ELI5 Why Arbitrage Spreads Occur in Cryptocurrency? How to Spot them in Real-time & Trade them Like a Pro? Wouldn’t One Whale be able take up all the Volume?
- Why do you think TA works or doesn't work?
- Bitmex liquidation question
- Bitcoin is Surging, but Expert Predicts Shocking Low Price of $2,000
- Reverse Parimutuel Options on Bitcoin
- Bitcoin BTC - April 24 Technical Analysis - Words of Wisdom and Advice - WOOHOOO TARGET HIT!
- Simple TradingView Indicator that creates lines at yesterdays open, close, high, and low.
- 0.028 BTC to 1 Bitcoin in 3 weeks.
- Bitcoin Price: Bitcoin's Up 10% In 7 Days - Is The Bull Run Back? Mosaic CEO, Garrick Hileman expects the biggest regulatory hurdle this year for Bitcoin is still to come. Find out more by following this link
| [Daily Discussion] Tuesday, April 24, 2018 Posted: 23 Apr 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| More Lightning Network Nodes Than Bitcoin Cash Nodes Posted: 24 Apr 2018 08:48 AM PDT Pretty interesting, there are just barely more though. https://cryptodisrupt.com/more-lightning-network-nodes-than-bitcoin-cash-nodes/ [link] [comments]  |
| Are you guys celebrating yet or do you think that this might be a big bulltrap? Posted: 24 Apr 2018 01:46 AM PDT I have no idea about TA, simply because i don't really believe in it. However i honestly believe (just a gut feeling, based on barely anything) that our „little" crash isn't over yet. People are celebrating way too much already, fomoing in a lot, thinking that it never ever will be cheaper again etc. Ridiculous marketcaps for just a written paper still exist, and people are still trying to get rich quick. Is anybody else here cautios aswell? [link] [comments]  |
| Bitcoin Analysis: Breakout of $9k, Exploring the Main Drivers Posted: 23 Apr 2018 07:43 PM PDT As published via CoinLive Bitcoin is breaking through a major level of resistance at $9k as the rally continues. This article looks to provide insights behind some of the key metrics and other fundamental aspects backing Bitcoin.  Remember, when we see a pump in price, it doesn't necessarily mean that one can pinpoint the reason fueling the higher valuation. A whole plethora of factors outside the public knowledge may influence such decision to buy the token, however, by analyzing the latest key fundamental advancements, we can assess how well justified the rise is. #1 Google Trends: 'Bitcoin' Picking Up  #2 Social Media Hype Solid The social media activity via Twitter and Reddit on Bitcoin has been consistent since early April. We've drawn a line around 22.5k, which when broken, should provide further evidence that the hype is truly back. We like to use the website Solume.io illustrates the change in sentiment, as it helps us track the social activity on Reddit and Twitter.  #3 Developer's Update via Jimmy Song As seen in the Newsletter we love to follow Proof of Work.
#4 Bitcoin Lightning Network Matures According to Bitcoinist: "Data showing current activity on Lightning's Bitcoin mainnet implementation reveals a network capacity of $148 million, up from $80 million April 10. At one point, over 2000 active public nodes were available to process transactions, which can confirm almost instantly for a fee of less than one satoshi per byte.What's more, the network has now reached 7000 active channels." Read the full story via Bitcoinist. #5 BTC Over the Counter Activity Huge As CoinLive has reported via Twitter: "Our network of Insiders telling us between 5000-10.000 BTC are being sold every week OTC by Chinese BTC miners to Israeli buyers - Wall Street type - as they look to accumulate a big hand in BTC." We also noted the tweet back in early April via Jeremy Gardner @Disruptepreneur: "OTC market demand for bitcoin right now is unlike anything I've ever witnessed. Several asks for multi-billion dollar blocks..." Read the original source. Also, read a story carried by NY Times on the same topic. # 6 Bitcoin Market Opens to 1.6 Billion Muslims An Islamic scholar recently declared Bitcoin "permissible" under Sharia law, which opens the market to 1.6 billion Muslims around the world. 'Is Bitcoin Halal or Haram: A Sharia Analysis,' a report written by Muhammad Abu Bakar, a certified Muslim legal expert, analyzes whether cryptocurrencies fall under halal or haram (prohibited) based on Islam's strict definitions of money. Read the full article at iconow.net # 7 End of US Tax Season Clears the Path for Fresh Capital "Selling pressure in cryptocurrencies could ease after tax day", those were the words from Tom Lee, the head of research at Fundstrat Global Advisors. Lee was quoted via Bloomberg earlier in April: "The April 15 income-tax filing deadline is contributing to crypto's falling prices as investors who won big betting on the digital tokens sell some of their remaining holdings to pay $25 billion in capital-gains levies, Tom Lee, the head of research at Fundstrat Global Advisors, wrote in a note Thursday. Bitcoin dropped more than 40 percent over the past month, including a 2.4 percent decline on Thursday to $6,664 as of 9:39 a.m. in New York. "This is a massive outflow from crypto to dollars," Lee wrote. "Historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value." Lee says that $25 billion prediction -- derived from his estimate that U.S. households had $92 billion in taxable gains from cryptocurrencies in 2017 -- would represent 20 percent of capital-gains tax receipts to the U.S. Treasury. He estimates total capital gains receipts will hit a record $168 billion for tax-year 2017." #8 Technical Breakout Sees Further Shorts Liquidation The area of resistance at $9k represents a major hurdle, so when it broke, some shorts saw their stops triggered which creates an initial flash-type move on the combination of shorts buying back to close their positions and new longs coming in.  To gain access to additional stories on Bitcoin, find below a timeline of the most relevant headlines in recent times. One can visit CoinLive's 24/7 News Terminal to gain access to all the news stories.  [link] [comments]  |
| Posted: 24 Apr 2018 08:05 AM PDT |
| Why do you think TA works or doesn't work? Posted: 24 Apr 2018 08:47 AM PDT Basically I want to hear the reason why you think it works or doesn't work. I want the proof that you use to convince yourself of this. (I hear a lot of claims here that it is "..TOTAL BS!!..") In my opinion (as you'll read below in my little story, if you feel like reading it)TA is something one uses to mitigate loss, keep invested funds "safe", and to determine when to lock in profits. Everything else is chaos. The techniques I use are at least 60 years old and they still work wonderfully today. This means that nothing has changed, the markets are as "manipulated" or as "totally unreadable" as some were claiming back in the 1920-60s. They are and they aren't. There's so much going on... TA is for clearing out the noise and finding profitable moments so that manipulation or chaotic markets do not matter at all. I've been watching bitcoin charts since Nov 2012 when i first started mining. I've never been a gamer, I got the idea to mine so that I could use the gaming PC I had inherited for something that interested me. This gave me my first bunch of coins that went right onto CAVirtex (a canadian exchange at the time) so that I could start trading with this new neato thing and see if grandpas techniques work. Of course they did, and I haven't looked back since. I've always traded regular markets, nothing ever too huge or complex but have paid off my life riding the S&P 500 up and down a couple times a year for a few years & by trading gold.. Very standard but I've always had my specific trading technique, it's very old school, conservative and it was taught to me by my grandfather who was a trader for many years. He loved the idea of investing in farming related stocks so that "my profits now could help those farmers fend off drought for a few years when they need to in the future"..I don't know about all that.. but I always saw him as someone who LOVED to trade and loved his style of TA. It was worked out by him and a few colleagues when he was just out of university. He was pretty wealthy and as far as I knew he never worked a day in his life, stayed home 99% of his life enjoying time with his family and friends. I remember a few amazing summer BBQs by the lake around age 8-12 with my Dad and all the family guys.. talking markets..LOL...(my wife would be making the barfing emoji face right now) We have a lot in common and though 30+ years have past since he died, his legacy lives on right into the digital age... in that his techniques still work perfectly today when trading the bigger volume coins like BTC & ETH... I really only trade BTC though. SO how could this be the case? Such archaic methods still work?.. Its not some bot calculating millions of methods per second.. I'm no whale who trades billions of dollars.. Why does looking at the time of year and making weekly - monthly trades based on very conservative ranges within wide channels still work to this day? TA exposes the mental side of the markets, the human psychology of buying and selling based on news and fear. It also exposes humanities seemingly inherent ability to deny things they don't understand fully, to never actually look into what they have no problem saying is complete bullshit... to think their common sense is all that is real. Its amazing really. I'll be watching the markets for this reason till the day I die! Pure entertainment! Thanks! [link] [comments]  |
| Posted: 24 Apr 2018 02:40 AM PDT I found out about the "BitmexRekt" Twitter bot, which shows the top liquidations usually after spikes in the BTC chart at https://twitter.com/bitmexrekt?lang=en Now I don't know much about margin trading and was wondering what "Liquidated 10,000,000 XBTUSD" (this number seems to be the upper limit there by the way) actually means in terms of real losses. That trader didn't actually lose 10 million $, but how to calculate the real loss? Is it even possible, or would you need more information to do that? I had a look at this table, but it didn't enlighten me https://www.bitmex.com/app/riskLimits#instrument-risk-limits [link] [comments]  |
| Bitcoin is Surging, but Expert Predicts Shocking Low Price of $2,000 Posted: 24 Apr 2018 10:34 AM PDT By Mike Brown on April 24, 2018, https://www.inverse.com/article/44068-bitcoin-price-new-low-coming Bitcoin is booming, but it may not stay that way for long. While the world's largest cryptocurrency shot past the $9,000 mark per coin on Tuesday, one expert sees the price crashing to between $2,000 and $3,000 this year before rising again. "Typically bitcoin has declined 80 to 90 percent after reaching new highs before starting the next wave," Dominik Zynis, co-founder of Wings, a community of initial coin offering backers that covers $435 million in funding, tells Inverse. "Not that history always repeats itself but at the end of the day, Bitcoin is a commodity and one whose transaction volume is decreasing while other coins are chipping away at its dominance as the de facto trader's currency which it has enjoyed. As more people adopt crypto, Bitcoin will continue to lose its 'reserve currency' price premium. Bitcoin might be the first coin, but who is still using the first web browser today?" Zynis doesn't see this potential drop as a permanent reduction. Instead, the coin may rise past the $30,000 mark "perhaps some time next year when the global economy tanks and governments race to print money." It's a sentiment shared by many in the business, with experts predicting a rise somewhere between $20,000 and $30,000 as investors look to the cryptocurrency market in the wake of a cooling stock market. A drop to $2,000 would be severe, but it's not that long since such a price would have been considered impressive. Bitcoin started off 2017 at $998 per token, gradually rising in value before hitting an all-time high of $19,343 by December 16. Analysts at the start of 2017, predicting a good year, suggested a price of $2,000 was feasible. While Bitcoin still dominates the market, a number of forks have made changes to the original project. A fork of Bitcoin Cash, scheduled for May 15, makes changes to the block size in a similar fashion to Bitcoin Cash itself when it forked from Bitcoin in August 2017. Bitcoin may be on the up, but it could get a lot tougher soon. [link] [comments]  |
| Reverse Parimutuel Options on Bitcoin Posted: 24 Apr 2018 02:46 AM PDT Hi there! Please read our article about derivatives on cryptocurrency. https://medium.com/@apofinance/reverse-parimutuel-options-on-bitcoin-dc5395b2434d [link] [comments]  |
| Bitcoin BTC - April 24 Technical Analysis - Words of Wisdom and Advice - WOOHOOO TARGET HIT! Posted: 24 Apr 2018 02:36 AM PDT General Tone: The bullish scenario came to fruition. We have nailed $9,200-$9,300 range with 100% success and now await the next move. There is a possibility of another small wave, yet again, since BTC is incredibly bullish thus far. I lay out the ground work for possible targets and supports of both bull and bear scenario. Long Term Bias (6+ months) - Bullish Medium Term Bias (Next Week) - Bullish Short Term Bias (Today) - Neutral Long Term Target Prediction - By 2019, $35,000+ [link] [comments]  |
| Simple TradingView Indicator that creates lines at yesterdays open, close, high, and low. Posted: 24 Apr 2018 09:56 AM PDT |
| 0.028 BTC to 1 Bitcoin in 3 weeks. Posted: 24 Apr 2018 09:07 AM PDT Got REKT plenty of times in the past for breaking my trading rules. So I have decided to actually follow them for once and couldn't be any happier with the results. I was a professional day trader during 2008-2011. Learned many day trading strategies, especially how to identify big players, order book manipulation, bull/bear traps, you name it, I saw it. Tape reading was the holy grail for many traders I've worked with. My goal has been to mimic the strategy in cryptocurrency trading. I was able to achieve alpha with these variables XBTUSD + Volatility + Tape Reading. Managing leverage was more important than the actual entry & exit of the trades due to the uncertainty of price direction we've seen past couple of weeks. Not having a directional bias helped me lock in quick small profits which allowed me to add leverage or average down later when price was moving against me. 7 out of 10 trades, I am usually in profit within 1st few minutes. I never used to take profit and we all know how bipolar BTC can be. My greed was the reason for my past liquidation and failure on Bitmex. I was positioned well for those big $300+ moves and didn't hesitate to take profit even if it meant I left more cash on the table. Now, I am taking couple of weeks off to study my trades to see what I did right, and where I made mistakes. If you are in a trade for 2 hours, you should study that trade for 12 hours after your exit. And sometimes the best trade is no trade. Best of luck everyone, and trade safe. [link] [comments]  |
| Posted: 24 Apr 2018 06:40 AM PDT |
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