Bitcoin Forum

Last week the market dropped, overall market cap decreased to $259 billion with BTC at $7.1k and ETH $410.

Review (from resource Crush Crypto):

"Started off the week at over $8,000, some investors worry that the highly anticipated Bitcoin ETF would not be approved until Q1 of 2019. Because the market has already absorbed this view, if the ETF is ultimately rejected, the negative market impact would not be as great because it is already priced in.
Although asset prices went down, there had been some encouraging development for the cryptocurrency space, including Starbuck’s support of cryptocurrency payment, and Intercontinental Exchange’s launch of a new company that supports Bitcoin products.
The continued positive development in the overall acceptance of cryptocurrency as a legitimate investment asset class is why we are constructive about cryptocurrency’s potential in the short and long-run."

With prices fluctuating but promising development in crypto acceptance, what are your thoughts and plans in the upcoming months?

this became the main theme in all news channels

Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery (https://cointelegraph.com/news/bitcoin-hovers-near-7-000-while-altcoins-show-marked-signs-of-recovery)

Bitcoin Price Watch: Currency Dives Deeper in the Red (https://nulltx.com/bitcoin-price-watch-currency-dives-deeper-in-the-red/)


it is difficult to make some plan or have high expectations, what can be done is expect what the SEC will decide and after that create some strategy

Yes I agree, many others including myself, are holding off any major activities until further notice. And yet SEC delays another etf...
Soon (which I hope not) the decentralized market might slowly shift to being "centralized" as ICOs may start to look like IPOs..

https://www.trustnodes.com/2018/08/08/sec-delays-yet-another-bitcoin-etf

And here we are with the worst market situation currently but very good one if you are smart investor.

This is the period which tells us how volatility is running in the blood of bitcoin and how it affects the whole scenario of market movement. Now the situation has arrived where neither bitcoin is in the bull and nor altcoins are marked as the sign of recovery.

Currently what I am seeing is big players are manipulating the market before we come to an end of the Q3 and thus start the year's last quarter to take the most profits out of it.

Thoughts on this thought are welcome!  :D

So practically if I understood correctly, it means that we would be swimming in this bloodbath right until that Quarter 1 of 2019? If we would have at least some confidence about the price recoveries I think all of us would be so happy.

we must really use intelligent spiculation to act, manipulation or not depends on the investor's confidence to invest in the current situation, I'm sure this is a good opportunity to take advantage

The plan that I will do, I will still wait until the end of the year, if it does not change then I will forcibly leave Crypto, and turn around with the real business.

I am planning to just HODL my bitcoin now.
Just like you siaid, merchants are jumping in. Starbucks which is a big name by now increasing the popularity of bitcoin with just rumors at first.
If more merchants happens to do the same then we will see a rocket blasting to space in the price of bitcoin.
Good news is altcoins will be pulled too.

The market is very volatile right now, as we can see that last week, the price of bitcoin was just $8000 and suddenly became $6000 this week. The market really are not good this days. The movement of the market is very unpredictable.

Thanks everyone for sharing your thoughts on this topic. Frankly it is quite sensitive. I find it to be very concerning for us crypto community especially when the governments, SEC and giant players are the ones causing a huge impact in the markets.


Surely it has become clear that these big players are causing dramatic changes in the market. To add to this unfortunate landscape, there are still several ETF applications waiting to get approve and some were already past the deadline for a decision. Also I noticed some applications that doesn’t even apply to us, only for accredited investors (I guess the rich does get richer..)  :-\
So if more ETFs are being rejected or delayed, I agree with you and would probably consider cashing out to take the most profits out of it. Although in my case it would be to break even or take loss. But let’s say if some actually does get approve within the next quarter, we can expect some kind of price recovery and perhaps plan a better investment strategy for next year.


I think it reasonable to say that the market is unpredictable in the next couple months. I was planning to sell some of my altcoins, but then decide it’s best to hold on to my portfolio for now until some price shift in the market. There are some projects that I am interested in, but aside from that, no more new investments for me till we hear some good news (possibly in the next quarter) and we see a positive movement (some time in 2019).


Indeed I think it wise to hodl for now. Regardless of these current setbacks, I would not give up on crypto and I strongly believe it still has a potential future long term. I suggest we stay optimistic, wait and observe the market, and hope for the best outcome and win win situation for everyone.

I think that if a person is regular trader of crypto currencies, then it is too much important for him to  take a review of the market on daily bases, he need to be active throughout the week and only then he can expect a good profit from crypto currencies trading.