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A Big Bounce as $20 Billion Pours Back into Crypto Markets

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The big pump has happened, altcoins with double digit gains include Bitcoin Cash, Neo, Ethereum Classic, and Ontology

The bounce was expected however the magnitude of it is a very positive sign. Markets have been plummeting for weeks, and are still very low, however the rebound was far bigger than the previous one indicating that this could be the reversal everybody has been waiting for.

 

Bitcoin pumped $500 in about three hours which gives it a 9% gain on the day. Trading just below $5,900 this time yesterday it has now jumped back to the previous resistance level of just over $6,400. The rest of the altcoins naturally followed their master back up, with Ethereum jumping 7% to $450. Levels are still very low and may resume bearish momentum but the big pump is welcome news this Saturday morning.

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6 hours ago, Jackson01 said:

What a cheering news,am glad to read it and hope this would bring massive pump up we have being waiting for.

yes i hope so brother

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Funny how this "big pump" seems really like nothing in the long run, but it's good to see the markets finally starting to show signs of life again. Maybe it would be about the time for me to also start to get up to speed on crypto and start moving some capital to the game, considering how I've been just increasing my stocks for essentially the whole summer.

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That is good news, but we're not out of the woods yet. We need to wait and see whether or not things'll get better long term. Just pumping in more money can't be all it takes, can it?

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1 hour ago, Gates said:

rejoice early. seriously talk about the turn of the movement I will only when btc grows above 10K $

Maybe you'd be better joining when btc falls below 5K$...

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On 05.07.2018 at 10:43 PM, hj27 said:

Maybe you'd be better joining when btc falls below 5K$...

I do not understand you, for what  should I join ?))

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20 minutes ago, Gates said:

I do not understand you, for what  should I join ?))

I mean, if you really think that BTC will reach 10k$ again, instead of waiting and entering into the market at BTC price 10K$, it's better to enter into the market at BTC price 5K$.

This way you enter when price is lower.

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12 hours ago, hj27 said:

I mean, if you really think that BTC will reach 10k$ again, instead of waiting and entering into the market at BTC price 10K$, it's better to enter into the market at BTC price 5K$.

This way you enter when price is lower.

I meant that the beginning of the upward movement can be affirmed only when btc surpasses the mark of 10 thousand dollars (this is a very important psychological mark). And to fall now he can and more low 5, I do not know as btc behave now

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12 hours ago, Gates said:

I meant that the beginning of the upward movement can be affirmed only when btc surpasses the mark of 10 thousand dollars (this is a very important psychological mark). And to fall now he can and more low 5, I do not know as btc behave now

Imagine the day when BTC reaches 10k$. What situation do you prefer?:

  • Situation 1. You enter into the market at that moment in a confirmed upward movement at 10k$.
  • Situation 2. You entered earlier into the market at 5k$. Later price continued crashing until 3k$, but anyway it later recovered and climbed to 10k$.

In situation 2 you would already have a x2 benefit.

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12 hours ago, hj27 said:

Imagine the day when BTC reaches 10k$. What situation do you prefer?:

  • Situation 1. You enter into the market at that moment in a confirmed upward movement at 10k$.
  • Situation 2. You entered earlier into the market at 5k$. Later price continued crashing until 3k$, but anyway it later recovered and climbed to 10k$.

In situation 2 you would already have a x2 benefit.

there is still situation 3. The price will fall below 5 k and will continue to decline until btc bursts like a "soap bubble":D

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10 hours ago, Gates said:

there is still situation 3. The price will fall below 5 k and will continue to decline until btc bursts like a "soap bubble":D

Yes, in theory it is possible although I really do not think it will happen. But that's why I previously said "I mean, if you really think that BTC will reach 10k$ again".

BTC is a so great store of value that I think it will be here forever.

 

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11 hours ago, hj27 said:

Yes, in theory it is possible although I really do not think it will happen. But that's why I previously said "I mean, if you really think that BTC will reach 10k$ again".

BTC is a so great store of value that I think it will be here forever.

 

perhaps you know, in our country in the early nineties of the last century there was an organization called MMM. It was a financial pyramid, you buy shares of this company, and the next day you will sell more. The cost has always increased. It pre-set the schedule for how much they will cost these shares tomorrow, the day after tomorrow and so on. As a result, about 20 million people have invested in this organization! The largest financial pyramid in the world and it naturally burst.

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6 hours ago, Gates said:

perhaps you know, in our country in the early nineties of the last century there was an organization called MMM. It was a financial pyramid, you buy shares of this company, and the next day you will sell more. The cost has always increased. It pre-set the schedule for how much they will cost these shares tomorrow, the day after tomorrow and so on. As a result, about 20 million people have invested in this organization! The largest financial pyramid in the world and it naturally burst.

Pyramids always collapse because they're not mathematically possible. But Bitcoin is not a pyramid as it has never promised anything, same as the stock market. Just because you can see that previous years have been positive that's not a guarantee of this year, and as such they're not comparable in any way.

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10 minutes ago, Cahoot said:

Pyramids always collapse because they're not mathematically possible. But Bitcoin is not a pyramid as it has never promised anything, same as the stock market. Just because you can see that previous years have been positive that's not a guarantee of this year, and as such they're not comparable in any way.

I understand and do not think btc any pyramid. Simply, what is now popular, tomorrow may not cost anything. You can not be 100% sure of anything. I myself very much hope that the popularity and cost of btc will grow

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I'm 75% confident that bitcoin has come to stay. The level of adoption tells me so.... In the other news, seems we are getting set for a recovery. 

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2 hours ago, Frank said:

I'm 75% confident that bitcoin has come to stay. The level of adoption tells me so.... In the other news, seems we are getting set for a recovery. 

In order to measure the level of adoption you have to compare it to something. And that's not easy. Maybe in every metric you compare with other economic assets (more conventional economic asset) BTC will have less adoption.

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12 hours ago, fredsam said:

Has the $20billion mention above makes any different in the crypto market?

yes it does but no much difference for now in terms of increasing in bitcoin prices,but its shows that the future is bright for holders of cryptocurrency

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19 hours ago, Gates said:

I understand and do not think btc any pyramid. Simply, what is now popular, tomorrow may not cost anything. You can not be 100% sure of anything. I myself very much hope that the popularity and cost of btc will grow

There's still a very big difference in something that is mathematically impossible, and thus in many countries straight out illegal, and something like cryptocurrency. Also since e.g., Bitcoin doesn't have a centrally controlled value to it, barring the complete destruction of our power and internet grids, Bitcoin will never completely lose the valuation - I'll personally keep that by buying any Bitcoin you have for one dollar a piece ;) While flawed, the system itself has so many uses that it won't just stop existing anymore.

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