Bitcoin Forum

So a lot of us have these highly optimistic views towards crypto and bitcoin, this is fuelled by nothing more than the desire to make money from something which has had it's day.

First before we go telling new people to buy now can we just stop and think about the impact you would feel if a selfish person gave you bad advice and you ran with it? Now what if a group are telling you? You'll lose complete confidence in the market you're trading on and likely move on with a sour taste.

No one on here has any idea when things will turn and it's all hope and optimism with no basis, we need a reason for things to turn and currently we don't have a reason, the big investors that pushed the price up did so because they had faith in where this technology could go, but sadly 2017 demonstrated a big failure in one of the most important areas being efficiency, if those recall how expensive bitcoin transactions got and how slow they became late 2017 you'll get this point and understand why we crashed, as it is now Bitcoin still has these issues and cannot scale well, we have solutions in the works like lightning network and other altcoins working on scalable solutions, but where it stands now we have no reason to go up, so please stop telling people it's about to change.

It's still not a bad time for beginners to put in a small amount and learn via day trading and research, I recommend doing so..but I do not recommend throwing big money at anything right now.

Myself I'll throw more money in when I see a successful roll out of the lightning network taking place, if we can get past the efficiency issues confidence will grow, I'm still optimistic long term in the tech but we have a bit of a way to go.

I'm sure some will disagree with this but the main point stands, we're being unmoral pushing advice we know isn't true.

you are correct about the hyped-up situation of cryptocurrencies from time to time but it all comes down to utilities in the end. when something has them it will continue to rise even if in short term it struggles and if it doesn't then when the hype wears off that thing will simply die with a slow downward spiral.

that is why bitcoin keeps recovering each time it goes down while altcoins get pumped and then their dump is the end of it all.

Brother you need to stay positive and hope for a better future always to thrive in financial markets especially crypto. Everyone has seen that from the start crypto has been repeating these bull and bear phases and in every bear phase people called it scam, fraud and useless etc but each time we saw a bigger bull run than ever so will be the case this time around as well.

As for me, market is pretty healthy right now and going through evolution stage - all shitcoins (from total numbers of 2 000 coins on CMC) is dying,
solid projects surviving, growing and developing pretty good. Market cleaning himself from trash.

And we wait, may be this year, Bakkt will work and institutional big money finally will come to crypto. So, now is perfect time to buy; before next bullrun.
We in the deep now.

there's a reason. :)

if there is no reason for price to go up, it would have been downward all the time now. the spikes could be due to the traders buying every time it dips and also tries to sell at every spikes. so long as there are people trading and businesses accepting crptocurrencies - its a reason good enough.

I agree with OP. Most predictions are nothing more than an expression of a predictor's desire.
The blockchain technology is immature and this continues.
It is difficult to imagine what can radically change the situation now. No forks, Bakkt, ETF can not change anything.

The only thing what can change this situation right now is evolution and adoption of the blockchain by big and famous companies. This already happens, eg. Facebook is currently looking for "Blockchain Developers". Once such companies start to use the blockchain, the confidence will come back.

I do get where you are coming from, early last year, I told someone o invest into the space at the top, and lost almost 99% of his money. I was very bitter with myself and stop telling people about investing into crypto. Concerning trading, I think it is the best short for now to make profit from the space and one need to be very careful not to get carried away and lost the whole portfolio

Everything in the market is purely speculation since people are so hungry of the bullish market to come and yet we might have to suffer another bearish trend again this year. People from 2017 who invested at the top, I don't know if there were some of them left that holding a bag from 2017. Imagine how much losses they have to take while still holding the bag up until now.

The year 2020 is our last chance that we see the bull run again, those forks, ETF and Bakkt aren't doing anything in this situation right now

Sometimes I am sad when I see a suggestion that might be misleading and would make someone or a beginner lose. If we actively read and always discuss here, then we will be able to make money in any situation, because I am sure there are still many people who are sincere to guide and help us become successful.

Regardless of all that, there is speculation circulating here, but we must understand that all is just an expectation, that might happen or not. The main thing is I don't want to regret and don't want to miss the next train, because I underestimated crypto currency in the past, so I will prepare it and bring as much supplies as possible.

I agree 100% that it's a difficult time for newcomers to buy in. Yes prices are vastly cheaper than they were at the end of 2017, but still there is no indication that the bear run is going to end any time soon, and in all likelihood prices will drop further.
I do think - and it's difficult to say this without words such as 'belief' or 'faith', which suggest blind optimism - I do think that logic suggests that the world needs crypto because it is quicker and more efficient than existing solutions. Countries and companies are always trying to exploit any advantage to gain position on their rivals, and crypto offers this whether through faster payments, smart contracts, the lack of national barriers etc... and if the world needs crypto then crypto still has just as bright a future as ever it had. We are just in a market downturn, and once adoption increases and the markets mature and prices of alts start to decouple from bitcoin, then we will start to see that future materialise, which should be reflected in higher prices.

I totally agree with your point and would like to add more advice before giving any suggestion to new peoples to invest in cryptocurrency just give them advice to learn basics of this industry & give them source too so that will learn easily. Also its better to invest amount that you can digest if losses occurred & will not affect your finances.

Well said, the market is completely unpredictable. Upon the same it isn't the right time for beginners to make their entry into crypto. But initially learning and then getting into the market with small investment will surely let the user learn experimentally as the market is fluctuating with time. The same doesn't took place all the time with the market. Another thing, the market is good for beginners to invest as the growth is promised.

I guess the OP is not following the latest developments with the lightning network. Bitcoin is slow when over used and is not capable as it is for daily supermarket use, unless there are prepaid bitcoin cards. However, lightning will change all of that so it is better to buy now when it's cheap rather than when everyone is going crazy for it

but that is just you. for example when i heard about bitcoin i never even thought about making money. the first thing i thought about was that it is so cool to be able to make a payment online without needing credit cards, paypal, etc.
then the profit came later when i saw the price shooting up.

and to this day i have never encouraged anybody to start with bitcoin because of its monetary gain!

as for the future, it is not at all hard to predict it. i can tell you what is going to happen right now and you can bookmark this and come back to it in a couple of years like in 2024 and see how my prediction was.
i see bitcoin growing a lot more than this, by grow i don't mean "only in price" but mostly in adoption. you will see it being used in a lot of places online and offline. and obviously price will be at least $100k by then.
90% of the altcoins you see today will not even exist in 5 years from now. 100% of the ICO tokens will be dead. the top 10 coins that you see today will be completely different in 2 years and different in another 2 or 3. so in 5 years top 10 will have been changed 2 times.

This is all correct technology is good, but so far raw and young and can not show the ideal conditions. Now the main thing is not to lose the strongest adherents, so that later  will not dangle in constant weightlessness and impermanence.

But the fact is that is not bad advice. Actually is most likely best advice this people will get in their lifetime.  Bitcoin reached bottom 5 weeks ago or is close to the bottom in near future. A year after bottom will be reach bull market will be in full swing. Buying after that moment takes some knowledge. Buying now just takes courage.

The finance market is emotional based and people and makes money on how they can manage their emotions. If you are wise you will not followed the manipulation but you will follow your own personal analysis and investments plans. The obvious is that this market has a lot of factors that control it and one of those factors is manipulation and fake news and we must start to see them as real because that is what control the market.

of course people can already see it, nothing is covered they can see the chart directly, they can see a drastic drop in prices from the end of 2017.
and in my opinion this is the best opportunity to buy because the value of bitcoin fell 80% from ATH at that time.

No one has any idea if the market would turn - sure, nobody does indeed. But there's also a few obvious things:

1. The bubble was absolutely obvious, everyone and their dog putting their live savings for easy profits, and impatiently waiting no more than a week before they gave up. Didn't sell everything at the top, but sold a decent chunk around it, and many others did.
2. Prices do bubbles and crashes, but technologies just keep getting steadily better. The scene is improving, alts are no longer copy+paste shitcoins, there's competition and opportunities.
3. Everyone now learned TA so everyone is reading the same signals and reacting to them. This makes short-term market moves predictable. You can profit off daytrading.

So my above 3 points are enough for me to continue dedicating time to crypto.

I think all of this is a very natural thing that happened in the world of commerce. New people entering the crypto world were, of course, interested in big profits. But the Crypto market is very difficult to predict and like in 2017 to repeat it will definitely be difficult. But I am sure if this can happen again in the future.

Truth. I could say that normal hyped shillers are giving huge financial advices on beginners with no responsibility on what they are telling. It's not the way to push global adoption, I think only bitcoin/cryptoccurencies could prove it by serving real use case.

So this is the case of everyone agree with the statements of others or not. And why do you think that it has already gone through its day. A young technology with a perspective,  just need to give the right push now and create regulation and that's it.

Prices are bad at the moment and continue to fall. But I don't think crypto has had its day, I think there is plenty more including new highs to come. But it is certainly not good at the moment, and I would not advise people to buy in whilst prices are still in freefall.

Even if a long downturn of bitcoin was still performing in the market, we cannot still give up and we keep on fighting. We have also downsides whenever we lose our money but let us just stay focused and stay positive. Not all days are bad, we can still wait our lucky days. Sometimes, we tend to fall for the fud but let us learned from our previous mistakes and go on.

Good days are coming and don't let yourself be influenced by those people that seem to lie with what they are saying. It's better to do your own research before conducting a decision making on what you'll do about buying or selling.

Optimistic idea is fine as we're all hoping for those days to come back, the good old days, the bull run that we have met before. Invest what you afford to lose and always rely on yourself when you are making decisions.

Telling lies to others is not ethic,first of all. Global adoption is beginning of the cycle and cycle's other side is very dark. After so many scam projects it is not easy to convince the investors to come and invest in to new ideas in crypto industry.

you're right after too many scams are now the market is being a little crypto deserted. investors are more cautious and not to invest. they are not like the old days where the market is very crowded with crypto investors money. Now we can just be patient.

I'll put big money in cryptocurrency if there are many peoples or many merchants who use cryptocurrency as payment system, maybe it will bring a lot of profit for long term or also for short term. But if I put big money just there are a country or even SEC approve/accept bitcoin then I won't do that. These things just for short term investment, I'm not hypocrite to say that if SEC accepted cryptocurrency will makes the price up drastically but it's just temporaly.

The truth still remains that bitcoin is going to grow and the current price no matter how we path it is still very low compare to the technology behind the cryptocurrency.  I don't think it is wrong for people to be told that bitcoin is still going to increase in price and investing in it is a right investments decision because it is certain bitcoin is going to increase in price and get pump as it has happened in the past.  Many of this type of comments were made in 2015 and 2016 and I could still remember some people said bitcoin will never get to $1000 but in 2017 December it went as high as $20,000! I believe in the future of the cryptocurrencies market and this hard reset will not change anything.

Yeah you and thousands of other people say this, but anyone who really believes in long term adoption and actual utility, they're the ones not only putting money in big but using the crypto every day and testing it and spending it.

And would they really care about SEC decisions or what countries do? No. The true crypto believers do what they do, regardless of everything going on around. It's not about if states make it profitable. It's about ideals.

So yeah, it's obvious, but few people will admit it.

OP is fear mongering,  crypto will rise again. Anybody can see this.

I think that cryptocurrency will still show itself. The other day I saw several graphs of technical analysis of the value of Bitcoin and Ethereum, and I want to say that in the next few years, cryptocurrency should not only return to the past peaks and show new ones. The main thing is not to forget about the diversification of investments. I invest in a top 10 coin and several promising newbies like Sound Money Coin.

In any case, today there are some new projects that give hope to many users of cryptocurrency, who actually give their consent to invest in these projects. I also prefer certain companies in which I am sure, but it seems to me that the risks are still present, especially with the current state of the cryptocurrency market.

Users are different from believers and anyone do have different treatment on how they do foreseen about crypto.Some would go for long term

but most likely people would always after for the profits. Adoption is still on progress, we might see some blockage or prohibitions but sooner or later

we would able to see that blockchain tech and crypto market cant really be stopped.

Some alts are pumping so its really good to stay updated with what's tending and what's the hyped coins at present and just go with it to earn profits. Some may be loosing money at some coins but some are also earning big time so its not totally bad add all.

back in the day people mostly used crypto because of the tech and the anonymous payment. be happy that the coins are now in a stable phase you can use them for payments. the greed came with the hype. all then it was all about profit profit profit. just be happy. the bottom is reached and it can still rise. there is much space for growth. just stop with that standart thinking that crypto is here to make profit.

You are right, i write a lot in some of my post for more and more people (to invest only money that afford to lose). Yes most of us want to make money from crypto, not want just to join some bouties or do trades just for pleasure.

We all working hard cause we want to have money and that's the main reason why we are still in crypto. I've never think the others consider this just for fun or having pleasure, pretty much they'll wanting to have in return.
Investing is not all about of what we can afford to loss but also it matters of our capitalization which we would like to put into a certain investment.

Perhaps progress is moving in a spiral. That is, we will not see rapid improvements in the near future. But crypto is changing.
Therefore, if we believe in success, we can tell people about the purchase, it is honest. Of course, it is necessary to explain not only about the potential, but also about the risk and time, which can be much more than we want.
In addition, rumors and early expectations get the greatest profit, but not the news and events that have occurred. That is the greatest profit for those who come to this market as soon as possible.

the crypto situation is currently experiencing a downturn. but that doesn't mean crypto doesn't have a future. on the contrary, crypto will grow in the future. but this certainly requires the support of all of us.

I think this can be used as a good opportunity to be able to buy as much coins as you can because the price decrease makes you have the potential to be able to get a lot of profit and that can happen if the price can recover.

Or you can be left bagholding a huge amount of worthless token. Either way, we must do our research first before investing to a market, I have exprienced both left bagholding a huge token and getting huge profit from buying dumped coins/token.  From this experience, I can say better buy those token that have an active developer and had been around the market for more than a year.  This will at least minimize the risk of being left bag holding useless/worthless coins or tokens.

you are right, it looks it will be safer for all of us to invest in the asset token that is already running. development is done we can see from the price movement of the market is going. but sometimes if it has been more than half a year of trading for the new token will be deserted, the vibrant is the token first time listing and it will make the price continues to fall.

that is only true of the coin you buy gets pumped right after you bought it.
the problem however is that a lot of altcoins are still dumping hard so when you buy them at these decreased prices you lose a lot of money instead as others continue to dump it.
your best case scenario is that you end up bag holding some altcoin that doesn't even move for another 8-9 months and then finally sees a very small pump before dying for good.

isn't that already a risk in investing with crypto currencies and by knowing the risk that investors are far more able to have the confidence and patience that is strong enough to invest with crypto currency

When they do not have confidence for sure they will not invest their money. I'm sure investors already thinking of all the risk. they are not fools, they invest and study the project in advance.

I know that the crypto market is being hyped almost all of the time, but sometimes I begin to see it as a good thing because we need every method possible in other to get people onboard especially those that have already lost trust in crypto.

The best thing we can do is to stop focusing on just the price of crypto because we might be frustrated when we begin to see a dump in price, but we should focus more on the technology behind the crypto market which is a new technology and need to be explored to its maximum.

This is an opinion from the perspective of a person who considers cryptocurrencies to be a tool for making money (speculator, trader).
If you look at cryptocurrencies as the future of finance and a tool for financial operations, you will see great prospects and you will have no doubts as to whether the investment in crypto is a good idea or not.

Wise talk, and there will be a point in future where we will all have to return back to days we use to strictly see crypto as payment system before the loop hole was being seeing by those who doesn’t want the decentralized objective to be achieved, and took advantage of that loop whole to make it look like it is an investment scheme.

I really cannot wait for the point in time where everyone would have adopted the use of cryptocurrency and the coin become stable without much volatility, these is the point where we can all start recognizing its usefulness again but before then, let me still make my own profit too via trading.

You need to know that you will definitely get advice like that from people and there will be so much hype at the end of the day to create FOMO and other things in the market so in the end learn to decide for yourself base on your own point of view take hype as just what it is and dont take actions based on it

indeed, no one can avoid such risks, but there are a number of ways that at least help you to find a good and correct investment place, usually these investors will look at the website and the project being developed, as much as possible the existing team is genuine encountered directly.

It is certainly clear, people would always think of their selfish interest first and this is not only related to the world of cryptocurrencies. Before you tell someone to spend his/her money on a project, you should be convinced without reasonable doubt that the project you are promoting is very feasible so the person don't up with loses.

The fact is that Technical analysis has always been the most important activity in the cryptocurrency market, but as always it was the most difficult of all the necessary actions that were needed for each user of cryptocurrency. In any case, if you have confidence in this or that project, then you need to make a choice in its favor unequivocally.