While those that have a very strong belief in what bitcoin can achieve will be the ones to obtain the profits, the truth is we can not be so confident that this is the beginning of a bull market, right now the price is going down not much but it is going down and I do not see a huge number of good news or developments that could guarantee that we are going to see such a market especially when it's so close to the previous bull run that lasted for six months, so I really think that we still need to show a lot more faith in bitcoin before we will be rewarded by it.

It depends, in some countries people almost have gotten rid of their cash and they use mostly digital currencies, but there are some other countries in which cash is still used widely as a form of exchanging value, even if I like bitcoin and I think it brings a lot of advantages I still do not like the idea of having a world that only works with cryptocurrencies, that is why I also like some traditional currencies like gold and silver, but I do not like fiat at all because it is a way to deceive people and steal wealth from them without them realizing it.

This is just natural bitcoin needs a lot more capital in order to grow in price while altcoins even the big ones need less money but we still need to be very cautious because even if we are seeing very good signs and it seems that the price is finally recovering at the same time we cannot get overconfident, it is still possible that the price goes down again and that this is just a bull trap, so the best advice that we can give is to be very careful with how we invest our money right now since the market is not very stable and could change direction anytime.

It was in my opinion quite obvious that we were in the middle of a bubble no asset can grow so fast and so high and maintain that price for a long time, what we did not know was how low bitcoin will go and 6000 seems a fair price to me, it is still six times higher than the price at the beginning of 2017 which means that was the real growth of bitcoin six times in a single year which is very impressive, how much money could you have earned if you invested in stocks or in any other investment? A lot less I'm sure of that.

While we are not whales I think you are underestimating the amount of money that small investors have, while many accuse the whales of manipulating the price and I think sometimes those accusations are correct most of the time the whales are not responsible for the movement in the market, they do not move their coins that much they are only responsible sometimes for the bigger movements but all the smaller movements that you see are caused by individual investors moving their money, and if there is a reason for them to panic then the chances that the price will go down increase which is why many people in the forum advice to not listen to FUD.

Those figures are without a doubt very high for normal people like us, but for a business like that it's to be expected that they get those kind of profits, I have always thought that the fastest way to make money is to go directly where the money is and there is no business that gets closer to that than banking and exchanges, have you seen how powerful are the banks? This is one of the reasons of why satoshi created bitcoin, and while we do not have bitcoin banks we have exchanges which are becoming big enough that by themselves they can alter the price if they want.

You are completely correct, now the question should be, what we can do in order to protect ourselves when fiat currencies finally fail? And I think the solution is very easy we need to find a store of value, one of the most famous stores of value is gold and while I consider it to be a decent store of value in my opinion is not the best after all you cannot eat or do anything with your gold while if you invested in real estate then you can use that house and that terrain to live there for some time and if you have enough space you could even produce food there in the case things got really ugly.

There is not going to be another collapse like the one we saw some months ago the conditions for another collapse are simply not there, however I also do not see the conditions for a significant growth in the short term, but if you take into account that bitcoin is the best cryptocurrency around, the developers are going to release the lightning network and that the economies of the world are not very solid then the chances that bitcoin will go up again in the next years is very high so if I were you I'll take advantage of these low prices.

While it is true that there has been manipulation going on in the market of bitcoin, at the same time the huge crash that happened during the first months of this year cannot be blamed to any kind of manipulation, the price was simply too high it was impossible to maintain it for any longer and as soon as new money stopped entering in the market we saw the crash, people panicked and the rest is history, all the rumors only helped to make the decrease in the price slightly larger, and since the crash happened for market reasons I think we're going to see another growth for market reasons again.

You are choosing the US dollar as an example of what a currency should be but if I remember correctly the US dollar has been crashing for a long time in the last 100 years it has lost 98% of its purchasing value, and yet people use that currency, it is true that the variations in the price of bitcoin are more abrupt, for example bitcoin lost about 70% of its value just in the recent crash, and that was just in a few months but that statistic is very deceiving because it left out that bitcoin went up almost 2000% in a year something that the dollar will never do.

If having more features was enough to surpass bitcoin then ethereum will be the first coin already in market cap, don't you think? So we cannot think that a coin is going to surpass bitcoin just because it can do more things, I know that this is true with most technologies, but you must not forget that bitcoin is not only a new technology, bitcoin is also a currency and if you take the time to look at the history of currencies you will see that it takes a lot of time before a currency is replaced by another, so I am very confident that bitcoin will be around for a long time.

You should get worried about it, because in my opinion this is just beginning it is very possible that in the future governments approve laws in which it is required to identify yourself every time you make a transaction in a blockchain and if merchants begin to cooperate with the authorities then is possible that bitcoin could get adopted worldwide but we will lose any kind of anonymity while we are using it, in my opinion that it will be a very hollow victory for bitcoin, if we want to change the way the world works bitcoin needs to remain as it this and not to become another arm of the government.

I think it is more important understand why that is the case, in theory nothing can go up forever not even bitcoin so we need to try to understand why this is happening? And in my opinion it's very simple bitcoin is a superior technology, it is also a superior store of value in it's also a superior form of currency, which is why despite the volatility the market bitcoin recovers because of the great fundamentals of it, and if we take into account that governments keep printing their fiat as much as they can then that explains why the price of bitcoin keeps recovering.

6000 was the bottom, many people were predicting an even lower price but that had seem like a floor that bitcoin was not going to break soon and then for some weeks the price remained more or less stable, it seems we are experiencing one small recovery, it is difficult to know exactly how high it will go but more importantly is how long is going to last? Why it has begun? And when the price begins to go down once again what it is going to be the new bottom? I have thought for a lot of time that 6000 was simply too low of a value for one bitcoin but 20000 was too high let us see if we can find some point in the middle in which bitcoin can remain for some time.

You need to understand that an important part of the growth in the last year by bitcoin was caused by speculation, however another great part was caused by real growth that is why the price did not crash to the initial price and now it's a lot higher than when we began the last year, this creates a market where there are more opportunities because more people are adopting cryptocurrencies but at the same time where the price went down due to the recent crash, but right now it seems we are seeing a slight recovery which is good if you are trying to chase an opportunity of making a career in cryptocurrencies.

You are right when you say that they can regulate cryptocurrencies to a certain point but I do not think they can control it, let's suppose that they forbid holding cryptocurrencies, there will be many people that are going to avoid cryptocurrencies from that point on but there is also going to be a significant amount of people that are not going to comply, what are they going to do at that point? Are they going to put people into jail, even if they do that how are they going to find them? How are they going to block to transference of bitcoin in a network they cannot control?

We can't really give a simple answer to this it will depend entirely on what you are looking for, investing your money in some of the most famous coins in cryptocurrencies is one of the safest investments that you can make and as you can see looking at the results of the previous year you can still make significant profits by investing in such coins, but if you want bigger earnings the only thing that you can do is to take more risks and that means investing in ico projects, but you need to be aware that you can lose all your money if you choose the wrong coin.

If anything the evidence shows the opposite, every year there are many businesses that are created with a lot of money but without any idea that is original and most of them fail, you do not have to look too far away, concentrate on cryptocurrencies look at icos, there are many projects out there that are not very original and are only derivative of some other project and you will see that those coins most of the time do not of have a lot of success, but if a coin brings something new to the table that coin has a big chance to become a success.

The market is still slowly recovering, however I think you have the right idea right now the market is showing signs of a slight recovery but we do not know how long this is going to last there is not really much reasons to think that we are going to see any kind of big recovery in the short term, I will like to be wrong in my prediction but I really do not think we're going to see much change in the price of cryptocurrencies in general until we are able to see a more solid growth for bitcoin and that will only happen until we get more adoption by the general population.

And the problem with cryptocurrencies is that scams are even more dangerous and the reason for that is when you use fiat like credit or debit cards you have the possibility of getting back your money thanks to the banks blocking the transaction or reverting the funds to you, but in cryptocurrencies this is impossible once a transaction has been confirmed enough times it is impossible to reverse it and due to the anonymity provided by cryptocurrencies it may be impossible to catch the culprit in order to try to get that money back.