Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
Read more
Edit: This is a question. What is the best way?? Double edit: Don’t bother DMing me I have no eth yet to scam submitted by /u/BilloTBaggins [link] [comments]
Traders warn that ETH price could fall to $1,700, triggering a “turbo nuke” in altcoins and altering the market structure of a struggling bull market.
So from my understanding, bitcoin is mined by PoW which is basically a mass brute force attack by miners to guess a random hash value, when this value is guessed, the block is validated and you are awarded BTC. Now with ethereum, it is a proof of stake system rather than proof of work. When…
Read more
Cryptocurrency was meant to give financial power back to individuals and reduce the reliance on banks/other industries that routinely profit off of people using their money. It was designed to prevent large institutions from being “too big to fail” and being bailed out when economic hardships happen while the common people are left in the…
Read more
I made a comment with complete satire and it made me realize how easy it is to scam , especially newer members. The comment was https://preview.redd.it/70bbkz4r7oi81.png?width=2048&format=png&auto=webp&s=af1ec30a8bb7971645c27c2ac4ced8ffc32da19b It was a fun thread until I started receiving dms. 17 in total asking about this post. 4 of them tried to scam me but the rest 13 wanted…
Read more
The buying pattern of bitcoin whales has long been an indicator for coming market movement. While it may not happen everything, the fact remains that these top addresses control enough of the supply between them to have significant impacts on the price. This is evident in past movements coinciding with major price shifts and once again, these whales have gone on another accumulation trend that could be the start of another bull rally. Bitcoin Addresses With 100K Accumulated The bitcoin addresses that hold more than 100K on their balances are followed by investors and their activities are closely monitored. Usually, depending on if these wallets are buying or selling, the amounts can be large enough to move the needle more than a few inches. This time around, the wallets have been accumulating and their collective balances have reached a critical point. Related Reading | Bitcoin Dominance Drops To 42% As Price Declines Below $43,000 On-chain analysis firm Santiment recently reported that three bitcoin wallets holding more than 100K BTC have been increasing their holdings for the past year. These wallets which had a collective balance of 260K coins by February last year have more than doubled their holdings. In the space of a year, they have added a collective total of 404K BTC, bringing their balance to 664K. 🐳 #Bitcoin's top addresses with 100k+ coins currently hold 664k $BTC after sitting at just 260k $BTC in Feb, 2021. There are currently 3 addresses of at least this size. They held an #AllTimeHigh of 693k $BTC in late June, just prior to prices surging. https://t.co/VRMD1itWCL pic.twitter.com/V9bqIOrB6j — Santiment (@santimentfeed) February 16, 2022 This is not a new record but is close to the previous all-time high balances of these three wallets. In June last year, the three wallets hit an all-time high of 693K on their balances, still unbroken to date. Why Is This Important? Well, one thing about these three wallets is the kind of pull they have in the market. The last time the wallets accumulated this much bitcoin was at the bottom of the downtrend in mid-2021. At the tie that these whale wallets hit their all-time high bitcoin holdings, the digital asset marked a local bottom. This was promptly followed by a tremendous bull rally that sent bitcoin and other cryptocurrencies towards new all-time highs. BTC loses footing at $40K | Source: BTCUSD on TradingView.com Now, the wallets have accumulated close to the same position once again. With less than 30K BTC left to reach its previous high, bitcoin looks to be marking another local bottom. If this is the case, then bitcoin could be gearing up for another rally towards a new all-time high. Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act While this may be quite bullish for the digital asset, other indicators point towards more bearish tendencies. Bitcoin is only trading above its 20-day SMA and even that is barely holding. It shows that fewer investors are willing to purchase the asset for prices they have in recent weeks causing a decline in value. If this continues, then bitcoin could very well be struggling to hold its next support level at $39,190 in no time. Featured image from MARCA, chart from TradingView.com
Omar Zaki was convicted of fraud by the SEC three years prior and is allegedly behind two other crypto projects which suffered devastating hacks.
Previously I have written about DCA strategy + buy the dip. The DCA part does the job of taking out the emotions, and the “buy the dip” is to utilize the time to make your cost basis even lower (DCA down). In a time like this, it’s the worst idea to sell low. If you…
Read more
On Friday, the National Association for Stock Car Auto Racing (NASCAR) announced the firm launched digital collectibles for this year’s Daytona 500. NASCAR’s series of limited-edition Daytona 500 NFT drops is part of a partnership with the Wax blockchain team. NASCAR Reveals 2022 Daytona 500 NFT Collection NASCAR plans to issue Daytona 500 non-fungible token […]
