In this video, I report on the most recent dip in the cryptocurrency market as we see Bitcoin fall around 11% in 24 hours, breaking support levels.
After a double flat top and higher lows, many were expecting to see an impending rally happen, but of course that did not happen. Bitcoin dragged every other crypto into the red today.
Interestingly there's an ETF decision coming up shortly which gives it some bullish sentiment. While it's not ideal, it's what preceded the last massive bull run.
The reason for the most recent dip? More media and government FUD of course!
While the SEC goes after many of the ICOs as if people can't be responsible and take care of themselves, the CFTC continues its price manipulation probe against the online exchanges. More of a reason to avoid online exchanges.
All the while, the Canadian government has put in place more ridiculous regulations to stop money laundering and financing that in reality is best done in fiat. Of course they will use any excuse possible to go after cryptocurrencies that are truly decentralized. The regulations will mean exchanges have to report people to the CRA if they have more than $10,000 Canadian or $7700 USD.
Even more proof that exchanges are terrible. Time to truly decentralize folks! All of this FUD is futile long term as the market is still in its infancy. Most of these laws are unenforceable and will lead to further interest.
Everyone needs to relax.
See the FULL video report here:
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I agree I was anticipating the rally despite regulations but there will eventually be the breaking point for decentralized currency as the universal tool for exchanges. HODL!! lol good post
You might want to put your donation addresses in text so people can copy and paste them.
Luckily, we have the whole Bitshares ecosystem that is as decentralized as can be and which runs the system on our beautifully powerful platform as well, including EOS too!
Thanks a lot for the information, much appreciated.
Namaste :)
DEX is the way to the future.
Sellers have been pushing this down for weeks now. Chance bitcoin has bottomed is about 0%. We are going lower. Give me the panic and i flip BULLISH!
https://steemit.com/cryptocurrency/@heyimsnuffles/crypto-carnage-is-imminent-20180610t190128430z-post
Isn't it just amazing. SMH.
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Thanks for telling it they way it is.
we need real honesty in times like these
Now, there are the hegemony of dollar around world. Bitcoin is capturing this hegemony, then dollar supporters are taking revenge but they can`t do anything. They just make fun of themselves. Nobody can stop technology and cryptocurrencies. Cryptocurrencies are an ever-flourishing field.
But what will happen when they have a large amount of BTC... then they will control the pricing of the BTC and altcoins, isn´t it?
The big boys are ruling the market behind the scene...
Financing Terrorism is an argument that only uninformed people make, just because they don´t understand what decentralized means.
This hack released the panic in the markets again, but that´s about it, nothing changed and my targets and bullish predictions keep going... :D
Your post has been very good. Very well, thank you for sharing something good.
Your post has been very good. Very well, thank you for sharing something good.
Thank you for your POST! and thank you for your analysis.
I just saw your post after I uploaded this:
https://steemit.com/cryptocurrencies/@salorca/btc-price-fall-up-after-a-south-korean-coincheck-loses-28m-of-pounds
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Once the banks break , centralization will become a thing of the past like socialism .