LiteCoin has patterned out a downward wedge (blue) and unlike Bitcoin, the second pattern is a bull flag rather than a rounded price formation. Still, the combination of these two patterns is a power potential. Price has broken out of the bull flag pattern and is correcting. The key question is what's next?
The blue impulse wave shows that five waves completed. The current correction can also be patterned into a downward wedge which is nearly complete. IF this wedge pattern is correct, then it's nearly complete. Price should turn up as shown by the arrows. The MACD is now becoming almost a giant symmetrical triangle. The potential energy stored in this coiled pattern could support an explosive reversal.
This charts is Bitcoin (BTC) of virtual-coin. Only the downward trend is trading.
10-Minute candle chart
Rising to three waves.
Recently, rising from the peak to the center.
Next, level up?
Let's check the trend of green line.
π: This post is a personal idea, not an investment idea. The transaction is a small transaction, so please enjoy it. It is your responsibility to invest, and you should be aware of subjective judgments and technical analysis to make investments.
π I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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a means of payment created by a group of programmers who acted on behalf of themselves as Satoshi Nakamoto in 2009. Touted as the world's first digital currency. bitcoin into crypto currency whose exchange system is not managed by any operator, but is done with a peer-to-peer system alias done directly between individuals without intermediaries. the bitcoin currency is not listed in the banking system and is not related to the government and all its exchanges are recorded in a distributed ledger called blockchain.
An attempt to break the new block of bitcoin by solving the Bitcoin algorithm. in this way, the new Bitcoin will be obtained and ready to be transacted. As we know if Bitcoin itself is a global financial system that becomes a new virtual currency and used as a means of payment. as well as being a means to store digital financial transaction flow records among other Bitcoin users.
Bitcoin price charts Exchange digital currencies with one another to earn profits according to the development of the world market.
(Update December 29, 2017: We have revised the information in the description of the article in this article where there was a mistake in writing the Soviet Union, which should be Boden, Sweden.)
Bitcoin is one of cryptocurrency which is basically a digital currency.
This currency form and storage is digital. The inventor of Bitcoin for the first time was a group / (not yet certain-red) program that uses the name Satoshi Nakamoto.
Bitcoin can be used to purchase various services such as games up to website hosting. for now, the number of services receiving Bitcoin is still quite limited.
Then why are people fond of Bitcoin? Because most of them use for investment and get rich.
From time to time Bitcoin prices continue to rise and peak at the end of 2017.
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if you bought ten Bitcoin for $ 6 per coin in January 2012 and you save up to now then your ten coins cost Rp2.5 Billion (December 2017 rate)
if you are interested in Bitcoin but do not understand right then you come to the right place, because we will discuss various questions about Bitcoin the most frequently asked questions.
How does Bitcoin work?
basically Bitcoin is a digital journal that records who has how many Bitcoin. Banks generally also have journals like this to record A customer has how much money. which distinguishes Bitcoin is a digital journal is not stored in a particular agency or party.
In Bitcoin, these digital journals are stored on each person, or anyone who wants to own and assist the transaction process (called maintainers). so when a digital journal breaks down then you have a backup of all other users. No one party controls this journal, everyone participates.
but since everyone can have this digital journal then they can know the amount and every transaction that happens. So let's say today you want to be a maintainers, then you can request a journal entry to the network and download it, you can then see its contents.
however you can not find out who the owner is because the data stored is Bitcoin address (imagine account number), without name, address or other personal information.
when Andi sends Susi 1 Bitcoin (BTC), then an instruction will be sent to all networks holding this copy. The instruction is to move 1 BTC from Andi (reduce) to Susi (add). after this instruction runs then the whole journal in the network will get update.
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Bitcoin delivery illustration
To prevent counterfeiting of instructions the network requires evidence that the instructions for moving 1 BTC are from the original owner Andi. this is the job of a private key that belongs only to Andi. Through the process of electronic computing, the network can verify this transaction and prove that indeed Andi is sending instructions.
different from signatures in checks that can be faked continuously, this private key will generate different signatures for each transaction. Subsequent transactions will result in a signature (marker that this is the original owner) is different.
what are the advantages of Bitcoin over conventional currency?
Bitcoin uses a decentralized system. No one governing party (such as a bank) because everyone participates in the process. this means no one can decide on one side or make a new policy that incriminates the owner of this currency. For example a Bitcoin address can not be frozen by a party. Purchase is easy. unlike banks that require steps and documents, you can have Bitcoin in 5 minutes only. Confidentiality is maintained. This may not be entirely true, nor is there a perfect system. Someone can create a Bitcoin Address without providing a name or address. imagine you can create an account without a name or address, and immediately get an active account number.Transparent. Uniquely, at the same time, everyone can see and have a journal entry. There will be Bitcoin address information and how many. but there will be no information on who the Bitcoin address is. This is an example of Bitcoin transactions received by Wikileaks. Bitcoin shipments are very fast, as well as with no terms or limitations of transfer. Bitcoin transfer fees are also very, very small, and have no administrative costs.
what can you do with Bitcoin?
First, you can use it to make payments at various merchants, or make transfers to other users. but lately, many services such as Steam game platform originally received payment with Bitcoin, but then stop the feature. The reason is the Bitcoin price continues to fluctuate.
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Examples of services that receive Bitcoin as a means of payment
Secondly, you can also use Bitcoin as an investment commodity like gold. You can buy it when it's cheap, and sell it when the price gets higher.
How to get Bitcoin?
First, buy Bitcoin directly by exchanging official currency with Bitcoin. in Indonesia, you can buy Bitcoin through several sites, such as Bitcoin.co.id, Luno, and CoinBase. Through the platform, you can exchange your Bitcoin with Rupiah currency.
second, you can get Bitcoin by becoming maintainers and verifying transaction (Bitcoin Mining). When you manage to do this, the system will give you Bitcoin. Read on to learn more about Bitcoin Mining.
thirdly, you can offer services or goods to someone who owns Bitcoin and accepts payments with Bitcoin.
What is the exchange rate of Bitcoin?
Bitcoin exchange rate is uncertain and constantly changing. When this article was written the exchange rate of 1 BTC reached Rp250 million. to monitor the exchange rate Bitcoin with Rupiah, you can visit Bitcoin.co.id site.
Why does the price of Bitcoin go down or up?
The cause of Bitcoin exchange rate fluctuations is supply and demand. when the demand is high and the amount of Bitcoin available is low then the Bitcoin price will be high, vice versa.
What causes Bitcoin to rise so high is because Bitcoin is not based on real value. the value of a company's stock may increase as their income rises or the number of sales increases. But Bitcoin is only trust-based buyers that the price will rise. Thus there is no basis for guarantee or measurement of the ups and downs of prices.
how many Bitcoins are in circulation?
The algorithm used by Bitcoin has been designed to produce 21 million Bitcoin by 2124 (approximate). Until this month has been circulating as much as 16.7 million Bitcoin so the remaining 4.300.000 Bitcoin again. Bitcoin's circulation can be monitored through the Blockchain website.
Can that number increase?
Coding this will not happen. But the Bitcoin limit is actually not a problem. if Bitcoin has stopped plus (21 million Bitcoin) and the majority of miners (51%) decide to replace the software with a new function (for example breaking the smallest unit of Bitcoin becomes smaller) then Bitcoin will experience fork, there are Bitcoin fractions with different play rules.
So far there are 2 forks from Bitcoin: Bitcoin Cash and Bitcoin Gold.
Is Bitcoin the only digital currency available?
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Until now there are about 1000 more cryptocurrencies in circulation and this number continues to grow. but until now, Bitcoin is the largest cryptocurrency. You can monitor the price developments of various digital currencies at the following link.
Sound very promising, what is the potential loss?
Bitcoin is built on the trust of the community against its price. there are no basic values ββand guarantor other than community. If the community one day decides that Bitcoin is useless, then at that time Bitcoin is meaninglessbecause it does not have a base value so Bitcoin is very volatile, this can mean within 1 day its value can go down far without cause. One day can go down forty percent (happens because China declares no BTC support), and can also go up thirty percent in four hours .the potential for hacking is also still large, just like any other digital system. Until now this has happened dozens of hack with a value that reached more than Rp 7 trillion. This hacking happens not to the entire Bitcoin system, but to the Bitcoin provider (trader) and then transfer the Bitcoin that is in the trader to another account.
Bitcoin Mining - Mining Bitcoin
Bitcoin mining sounds like gold mining activity. but the real thing is not as cool as it is. When instructions are sent to the network to move 1 BTC from A to B, maintainers will scramble to validate transactions and solve complex mathematical problems.
those who successfully perform the first validation will be rewarded with a small amount of Bitcoin. The question is where does this Bitcoin come from? The system creates Bitcoin directly for these miners, not taken from existing Bitcoin. this is what adds to the amount of Bitcoin available in the market.
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You're looking at a bitcoin field in Boden, Sweden
Although impressed easy but these miners need to solve complicated mathematical problems, so they need hardware that is tight and wasteful electricity. that's why you'll see so much hardware in a serious Bitcoin miner place.
It also means there is no point to mining your PC. The cost of paying electricity will be greater than the Bitcoin you get. to do mining with profit objectives then you need more serious hardware or usually called Application-specific integrated circuit chips (ASICs).
How is Bitcoin legality in Indonesia?
in Indonesia alone, Bank Indonesia has banned all payment system providers to facilitate transactions with a virtual currency (cryptocurrency) such as Bitcoin through Bank Indonesia Regulation Number 18/40 / PBI / 2016. but so far, there are no specific rules governing cryptocurrency as an investment commodity.
This means there should be no purchase of goods and services with Bitcoin. But you are not forbidden to buy Bitcoin to invest.
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