Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: YoshiGang777 on February 15, 2024, 07:22:54 AM
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
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DCA is still a good way of investing in bitcoin. If the price dumped, buy more. We are not targeting those fearing words but targeting all-time-high and six figure.
In my opinion, the market looks bullish and probably the bull market has started and it is going to last till 2025. If the bull market has not started and you have some coins, no need to panic and sell if you can hold for many months.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
It's possible. There are some people saying that the current price of Bitcoin is possible to be the start of the bull market. However, there are some people who suggest that this could also be a trap being set. There is always no one who can say what is the future, so it is important to remember to take profit and set a goal when do we need to take a profit. It is also advisable to have a better plan when buying Bitcoin once the price goes down again.
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It's possible. Some people are claiming that the current price movement of Bitcoin might be the start of the crypto season or the bull market. However, some suggest that this could be a bull trap, similar to a classic pump-and-dump scheme. The future is always uncertain, so it is important to remember to take profit or set a goal for when to take profit. Additionally, it is advisable to have a plan for purchasing Bitcoin once the price goes down again.
Not in this. Because the future is certain. If there would be any bullback, it would only be for short period of time. It is good to be optimistic about bitcoin price because the future is certain which is all-time-high and the price to reach six figures. That would be in this year and next year. If you can hold your coins for many months or years, do not sell is the best advice.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
You never know what it is. I see this pump as a genuine pump because Bitcoin touched the 48K range even before the ETF approvals. Do you remember the ETF approval announcement and the movement in the market? Bitcoin was dumping after it was revealed that it was fake announcement and the alts were bleeding.
However, Bitcoin recovered from there in a short period of time. After that, ETF approved but we didn't see any significant movements. ETF is getting volume slowly and I believe this could be the effect of ETF that slowly reflecting.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
Bitcoin is worth a lot more than gold, because Bitcoin is definitely more likely to grow 2-3 times if you can hold it for a long time. But if you hold gold comparatively with the same amount of money, you are not likely to get that much profit. The future of Bitcoin is very good which is why I am brave enough to hold it as a trusted coin, but if it can be held in a strong wallet then Bitcoin is definitely safe. But I would suggest to invest in Bitcoin but it is better to hold for long term because Bitcoin price is sure to increase in future.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
I wouldn't pay attention to it. There have been countless comments from such critics for the entire time that BTC and the crypto industry have existed. I think it is quite normal for BTC to have pumps and dumps because the crypto market is cyclical like other markets. In fact, BTC and the whole crypto industry are getting stronger with each cycle, but such critics prefer to ignore it.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
Every crypto movement might be pump and dump specially when the Bull market is still not on like when Halving is still not in the market .
But there is already possibilities that this is about the effect of ETF approval so actually we are still not getting what is truly happening in the market now as it maybe a pump and dump or another legit increase in new flow.
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If I compare in terms of benefits then holding gold is not profitable, holding bitcoin is more profitable. The price of Bitcoin is always going up and down due to which the maximum benefit can be achieved in a short period of time.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
Peter Schiff has been saying rubbish about Bitcoin many years ago and it's only gullible persons that would take him seriously. I took out two of his derogatory tweets about Bitcoin in 2018 and look at where Bitcoin is today. I don't want to believe he forgets what he writes so easily but it's obvious he doesn't have sense.
"I know more about Bitcoin than anyone who was foolish enough to buy it, including those who got in early and were smart enough to get out. Understanding the technology means nothing if you don't understand why it's not money."
https://twitter.com/PeterSchiff/status/1066508527785660416?t=Nbw5hBwvXXOYwO4_jmWGvA&s=19
"Don’t make the mistake of thinking that buying bitcoin below $3,800 is a bargain just because the current price is better than 80% below its record high. Bitcoin’s price could easily drop another 80% from here, and at $750 it would still be expensive!”
https://twitter.com/PeterSchiff/status/1066506512565223425?t=qZEaDfvN012MvU5Lwy6cGg&s=19
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
Those who still live in the fool's paradise in this modern age will be the only ones to hold the gold. Holding gold will not yield much benefit as its price will be very limited. If you notice this month of February, the price of gold is at normal level. But in comparison the price of Bitcoin has increased tremendously. At present, the price of Bitcoin was up to 52500 dollars. So I never like to hold gold, the more bitcoins you hold the more benefits you get. So good people invest in Bitcoin.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
It is a pump-and-dump scheme for many big investors, but as we can see market is currently influenced by the ETF investors and they are trading OTC. And that's not really impacting any big influence over the BTC price. For example, a few days back Grayscale sold a lot of BTC and they were bought by BlackRock. The amount was so big that if that trade happened on centralized exchanges or even on decentralized ones, the supply would increase in the market and the market would dump for sure but instead, it did not dump.
This indicates that there are no pumping and dumping happening in the market at the current moment, and the market is going smoothly, I am not a good analyst but I think the market is making both understandable patterns for technical and fundamental. Small pumping and dumping is normal and it will be there everytime.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
He has not been saying things like this before, neither is this the first time we are going to have the market pump and dump, we are so much concerned with the present and the future, we only use the past to give us more courage in going after in pursuit of what we want from the adoption of a digital currency like bitcoin, there's nothing to fear anymore even if the market is going bearish with bitcoin, theres ever this hope that the market will continue to rise over and over again.
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We should not be afraid of pump and dump because it is common in crypto market and when we enter into the market then first thing which we learned is to use your patience under volatile conditions. You should take benefit from this ups and downs by buying bitcoin at different prices and sell it during Bull season.
I don't think that we will see huge dump very soon because Bull season is started and now we will see pump instead of continues dump. I don't say that dump will not be there but dump is just a temporary thing and we should not be afraid of it.
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People who don't believe in bitcoin will say it's a pump and dump but people who are pro bitcoin will say it's the asset of the future as its value keeps increasing every cycle.
I will not listen to people who do not like bitcoin because they will continue to spread FUD in the media or other social media.
IMO, bitcoin is important even the comparison of gold with bitcoin is far in terms of ROI so now many people will switch to investing in bitcoin because the value will always be positive in a short time even though in times of decline it will become a mockery, but we are already aware of this because bitcoin has high volatility.
Now don't listen to those who are not pro bitcoin, I now still believe bitcoin is the most profitable asset in the long run so I will continue to invest in bitcoin.
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Each cycle is a training in decision making and in what strategy they work to my interests. There will be interesting moments in the +60k ranges, which is the difficult range to sustain, for now the 50k holds, and the short sellers have started the game in that range.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
It's no longer a secret and it's a common thing about prices like that. Bitcoin prices will not always increase continuously, there will definitely be a market correction. So, how big the dump or pump is is what we have to observe. If it is for long term holding, this will not have an impact. because we already have our own price target and we are just waiting for the time. However, for shorters or traders, there are definitely separate considerations. So, it is not a problem to face this pump and dump of Bitcoin prices. Yes, just take advantage of the opportunities as much as possible. Meanwhile, we believe that even after a dump, there will definitely be pump lag. So, it's just a matter of how we can optimize the existing opportunities to get profits from here. So, there's no need to panic. Once again, don't panic.
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The crypto community is a space where freedom of speech is open to everyone. Anyone can make comments and share predictions or suggestions about any particular matter. In light of what has been said, this might be true, as we've observed similar situations over the years. Everyone in this space is certainly here for profit, meaning some people might want to capitalize on the price by selling, potentially leading to a price dump.
It could also be that the recent surge is a positive effect of the approval of the spot Bitcoin ETF last month. Different things happen for different reasons especially when it comes to making profit.
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Each cycle is a training in decision making and in what strategy they work to my interests. There will be interesting moments in the +60k ranges, which is the difficult range to sustain, for now the 50k holds, and the short sellers have started the game in that range.
Bitcoin price movements are very unstable, but currently the price is more than $50k, and it seems like it will be easy to reach $60k, but it still takes quite a long time, and of course the process that must be gone through is not easy. But when the price reaches ATH, you should immediately sell it because usually when it is at its peak price, it has the potential to fall to the bottom price. I am not making you afraid; I just advise you to always be alert and not be too late to take profit.
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Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
I don't follow Peter Schiff and don't really know if he says it or not so you should give a link to the post where he says that. And my POV on Pump & Dump is, that it is happening all the time, people are trying spoofing, and whales might be the ones getting benefits from spoofing by P&D the market. The market is not so volatile either that we declare it as manipulation. Because we can't manipulate the BTC as easily as we can manipulate the price of ALTs (the ones with lesser M.cap). As we can see the M.Cap of BTC is more than $1 trillion and it makes it almost less reactive to P&D schemes.
But yeh it is possible that this is happening in the market but we are investors, should not focus on what is happening in hours, or days, investors don't really react to such short-term ups and downs, In the long run, we do know BTC is going to make an ATH.
PS: I am not a big investor haha.
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You should know that when ever there is a shift or rise in Bitcoin price, there are some actors who are ready to fomo and fud for weak hands to dump for them to bag more. They already know that bull run is around the corner and as a matter of fact, people have started holding more Bitcoin as the price gradually begins to increase. In other for them to gather more at the cheapest price, they decide to spread fud and fomo so that there would be a dump for them to by more while waiting for the bull run which already started.
I believe investors and purportedly called weak hands are now wise enough to know the Bitcoin market terrain and happenings on how to handle situations of this nature. I do not see any dump in price but rather pump in price and value of Bitcoin as it is near bull run.