Last time Bitcoin took such a big hit it went into a downtrend for 2 years. It seems like the "bubble" has bursted and we are returning to a "normal" price. Wouldn't be surprised if we see ~$3000-$4000 in the next few months.
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Is bitcoin heading for a bubble at $30 a coin?
Have you ever tried to download the bitcoin client from bitcoin.org? Do it please. After you open the wallet you have to actually download the "Complete" blockchain to your computer. And then we know that transactions are costly and take days to complete, even weeks. Is this the coin of the future? I say no. I see banks adopting the blockchain tech for the creation of a common database between banks all over the world. They will maintain the servers to achieve same day or better transactions. I did a bank transfer this past week. It took less than...
There are less than 10000 bitcoin nodes on the network. Millions of people use light wallets
Current size of blockchain is ~100GB. If it takes weeks for you to download, I'd recommend you to switch to other ISP.
Ah 24 hours for electronic transfer, what a great achievement
My bitcoin transfers take less than hour, and lightcoin or monero transfers are almost instant.
Do you really expect an open ledger from your beloved banks?
Sorry I don't have any problems with banks. About the internet speed, you don't download the ledger data at peak speed. I think you are manipulating the data a bit to make your point, not an uncommon practice. Enjoy your bubble burst.
I run or was running the nodes for about half a dozen of coins and I know what time it takes to synchronize.
As I see you were unable to understand my text about light wallets and the number of nodes.
Technical Analysis – BITCOIN (BTCUSD) 2018-02-09
In the H4, chart of BTC we can see that downward trend is continuing for a long time. Moreover, It is following a strong trend line as well. Previously, we saw price rejected from this area and got down from here. Now price is...
To view the full version of analysis, visit FinanceAttitude
In the H4, chart of BTC we can see that downward trend is continuing for a long time. Moreover, It is following a strong trend line as well. Previously, we saw price rejected from this area and got down from here. Now price is...
To view the full version of analysis, visit FinanceAttitude
Bitcoin extends gains
by Fawad Razadzada
Earlier, I wrote a fundamental piece about the recent moves in the FX, bond and equity markets, and mentioned that something doesn’t quite add up. Well, lucky for me, I am first and foremost a technical trader/analyst rather than a fundamental one. It doesn’t really matter what I or you think ‘should’ happen. As long as price says to me it wants to go up then I am bullish, and if it is telling me that it wants to go down, I am bearish. Of course I and you can have longer-term views on the direction of prices, but this shouldn’t cloud our judgement when it comes down to short-term trading. But sometimes when things don’t line up, it may be best to stay on the side-lines. If you have to trade, then take things from one level to the next and move on, or look for possible opportunities in the FX crosses and something very different like Bitcoin.
Speaking of Bitcoin, the cryptocurrency has managed to bounce back in the past few days after declining sharply. In some exchanges, it rose to the $10K hurdle before easing back a little on profit-taking. Recent price action has been somewhat bullish. As the one hour chart of CMA Bitcoin futures show, it has been putting in a series of higher highs and higher lows on the lower time frames. On the daily, it has shown willingness to hold above the 200-day average. We have seen some volume coming into Bitcoin as it traded around the 200-day average. The 1-hour volume weighted average price (VWAP) is now trending higher. Bitcoin has broken above a key short-term resistance zone in the $9000-$9250 range. This area has since turned into a bit of support. For as long as price holds above this area then the short-term bias would remain bullish. However, if it goes back below this $9000-$9250 range then one would have to strongly consider the bearish scenario given the recent declines on the higher time frames. The next area of resistance is between $9800 and $10100. This area was previously support. Further resistance comes in at $10850, followed by $11750.
Source: TradingView and FOREX.com
by Fawad Razadzada
Earlier, I wrote a fundamental piece about the recent moves in the FX, bond and equity markets, and mentioned that something doesn’t quite add up. Well, lucky for me, I am first and foremost a technical trader/analyst rather than a fundamental one. It doesn’t really matter what I or you think ‘should’ happen. As long as price says to me it wants to go up then I am bullish, and if it is telling me that it wants to go down, I am bearish. Of course I and you can have longer-term views on the direction of prices, but this shouldn’t cloud our judgement when it comes down to short-term trading. But sometimes when things don’t line up, it may be best to stay on the side-lines. If you have to trade, then take things from one level to the next and move on, or look for possible opportunities in the FX crosses and something very different like Bitcoin.
Speaking of Bitcoin, the cryptocurrency has managed to bounce back in the past few days after declining sharply. In some exchanges, it rose to the $10K hurdle before easing back a little on profit-taking. Recent price action has been somewhat bullish. As the one hour chart of CMA Bitcoin futures show, it has been putting in a series of higher highs and higher lows on the lower time frames. On the daily, it has shown willingness to hold above the 200-day average. We have seen some volume coming into Bitcoin as it traded around the 200-day average. The 1-hour volume weighted average price (VWAP) is now trending higher. Bitcoin has broken above a key short-term resistance zone in the $9000-$9250 range. This area has since turned into a bit of support. For as long as price holds above this area then the short-term bias would remain bullish. However, if it goes back below this $9000-$9250 range then one would have to strongly consider the bearish scenario given the recent declines on the higher time frames. The next area of resistance is between $9800 and $10100. This area was previously support. Further resistance comes in at $10850, followed by $11750.
Source: TradingView and FOREX.com
