Published on : 2017-04-24 15:27:05

That is not a bear market – there was still liquidity in the market. As people are trying to invest in multiple currencies they can further destabilize the market. Others have said that I’m being too fatalistic, and if all of this unravels, it will not be “armageddon”. Image: Peter Brandt Image: Peter Brandt The S-H-S is approximately a head and shoulders formation why bitcoin is falling. So, this is by no means something that wasn’t to be expected. Since the market (still) trusts that they’re worth 1 dollar each, it gives the illusion of liquidity and high demand for cryptocurrencies, especially Bitcoin. This action defines the height of the head (the all-time high in price), the shoulder and most importantly the neckline – the place where three sell offs have got to. At the time it started, there were less than 10 million Tethers in circulation, but over the last 8 months they have minted over a billion dollars worth of them. Image: Peter Brandt - this chart says buy either at $12k or $6. Also, it was later found that officials of the the Korean government were found guilty of insider trading. I doubt the crypto market can take another hit like this. One option is that is really was just a bubble why bitcoin is falling. Now, that we have the support building at around the 10,000 USD mark for more than a month, one can easily say it s just a matter of may be couple of weeks before Bitcoin hits new all time high. Unfortunately, that quickly became no longer the case.

People differ in their tendency to believe this, but who knows - all the skeptics just might have been right. One thing that is worth noting is that this is the 4th time BTC dropped by around 30% this year only, and each time it managed to rise for over 100%. The only other futures they are big in are VIX…which is a future on options. He called the top, and in homage I’m going to “borrow” some of his charts. I went to a friend’s party on Saturday 9 December, right before the CBOE futures intro, and I tell my friend Tony, “It looks like a pump and dump to me”. The real problem is that Tether is majority owned by Bitfinex, one of the largest crypto exchanges in the world. The following table is ordered by daily volume: Look at Tether’s volume. You’ll see people saying they took these huge loans and buying when the price was highest. Was I really just early with my call…Was the bigger CME futures intro the dump. Another way to think of technicals is with coinbase inadvertently giving away the addition of Bitcoin Cash to that platform. Tether has minted half a billion’s worth of tokens just in the last 3 months. There are suggestions that their frequent smaller transactions were one of the main reasons BTC went so high up in the first place. Sorry I don’t have the answer to that one. When these people start panic selling their coins the market gets even more volatile.

Tether is less than 1% the size of Bitcoin by market cap (a “measly” 1. Image: I’m hoping that fail to load doesn’t mean SuperMugatu has deleted this tweet BTW, I’m sticking up for Charlie Lee. Value guys buy things because they’re cheap.Gas.
. However, it was clarified from one of the major exchange, pocketbits. 5k answer views Bitcoin’s price has artificially been driven up by an elaborate fraud involving the cryptocurrency called Tether (among other fraudulent things). Footnotes Since the last week of December 2017, the cryptocurrency ecosystem has been going through a lot of turmoil. Fundamentals will always trump technical, but what is going on is technicals sometimes give away fundamentals. BTC value has declined over the last two days, but it may bounce back.  Is this perhaps what has happened with Bitcoin. With transaction queues so long, it’ll be mass panic if the price starts dropping. There’s nothing wrong with becoming a millionaire, but if you plan to do that only through Bitcoin or only one particular cryptocurrency, you are perhaps at an increased risk of becoming bankrupt. Let us see below some of the reasons why not only Bitcoin but the entire cryptocurrency space had been going through a tough phase in the past 4 weeks or so. .Skycoin.


Triggers to MRP

Could Verge become the next Bitcoin due to its focus on near instant speed and the promise of anonymous trading?
Ubiq to QTM

Why is South Korea suddenly terrified of bitcoin? Usually on the cutting edge of technology, the country unleashes a swift crackdown on cryptocurrencies that threatens to trigger a domino effect in Asia
Power Ledger to BOSON

Storj to EVIL

With Bitcoin supply constrained and increasingly falling short of demand, instead of functioning as a currency, Bitcoin is a speculative empty asset.

21-07-2017 · The bridge towards a new Bitcoin is built. To make this upgrade a little easier to adopt, developers have come up with a couple of ideas that make the switch more gradual.
Stratis to ECCHI

One response to “Why Bitcoin is a mania and fake currency, faker than the dollar”
OmiseGO to CCB

22-05-2017 · A little over two months ago, Bitcoin achieved a symbolic milestone: After an intensive period of growth, the price of one Bitcoin surpassed the price of an ounce of gold. That seems like ancient history. The price of Bitcoin has nearly doubled since then and the cryptocurrency is currently
Verge to SBTC

Why has the cryptocurrency’s price dropped? While it isn’t clear why bitcoin’s price has dropped so quickly, it isn’t hugely surprising.
Dogecoin to BPOK

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