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Just to buttress my point, the bitcoin itself is generally limited in its current use and purpose as most people see it as just a means of exchange and making money; primarily. I will love to learn more on this and explore all its different options fully. With this attained, I can then get ready for the next stage of the bitcoin adaption and all the possible mutations it will offer in the cryptocurrency world.
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Like part of the principles in cryptocurrency trading is buying more of the particular coin you are focused on when thea market dips. This same principle is applies to bitcoin too. This can be evident in some levels of the bitcoin dips in which some people must have made some profits when they entered in.
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It is a very welcome idea of cryptocurrency being accepted on a country level. Singapore has made some major leaps in its economic development and won't be left out in the blockchain technology and cryptocurrency. I believe some other areas in the cryptocurrency sectors are also being explored.
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Just to back up my point as regards choosing the steady growth of bitcoin rather than the spikey growth. The Investors would really want a peace of mind than heartaches experienced when viewing the spikes on their investments. As much as the market is a volatile one, a relatively stable one is welcome gradually.
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What are your opinions?
For a long time I thought BTC stabilized at $6400, then boom!
I would like to get some views to help me decide what to do.
It has been a wild ride (to put it mildly!) It can be scary.
It can be quite dicey if one doesn't have detailed information as regards the market movements. But I believe some have really made some profit with these several dips and also some increase that happened recently. The market is still in a process of acclimatising and hopefully to settle by January. |
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As you see, bitcoin's price felt from 6500 to 3700. From the very first day, there was panic and fall was very intense. In situations like this one, how do you act? Do you sell bitcoins, wait a little for more fall and then buy more with same cash? Or so you fully support bitcoin and hold it?
I ask this because want to know what community here does in such situations, do you do good for bitcoin or worsen situation?
Well, it is good to take a survey and know if the population here too are contributing to the dip or helping in salvaging the situation. I for one will be buying more at this dip and hodling what I have still till I deem it sellable; like when bitcoin reaches 10,000$ again. |
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I wouldn't say that the game is over for bitcoin as I can see there is still some resistance levels at the 3700$ price. The exchanges are still actively having their live trades; making bitcoin still relevant. A lot of persons are still actively hodling as they still have some hope in the cryptocurrency system and also fear to sell at this huge loss.
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A major opportunity I see in this blood bath which I have always been taught right from the time I got into learning the cryptocurrency market is to buy more whenever you experience a dip. But the threat now is what happens when there isn't sufficient funds to continue buying into the dip?
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I will simply put that real estate is still the best way to save/invest your money for the future of one's children. Another possible option is the government treasury bills investment which you can just keep on renewing each time; over and over. I don't subscribe to having your investment tied down in cryptocurrency/bitcoin which is very volatile! A good example to this reason is what has happened to the bitcoin price at this time out!
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Good and encouraging statistics here but someone said it pays more to know when you ought to sellout and buy in. This implies that when you get lucky some persons are getting the burn for a wrong entry at the particular time. Well, my worry is how the majority will be made happy again from this major DIP!
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The value of bitcoin was apparently insignificant amount of cents when it was first launched but after the very first transaction by Laszlo Hanyecz by purchasing two pizzas in Jacksonvville with 10,000BTC its price rose by 900% that is from $0.008 to $0.08. Guys don't be deceived by the state of the market because bitcoin can just increased within some few minutes.Don't sell your bitcoins at a cheap price because cryptocurrency transactions and the blockchain is the future for financial systems. I am happy to be among the few ones to know this and all thanks to Satoshi Nakamoto and all the pioneers of blockchain technology.
As much as one is not going to be deceived by the current state of the market, the current DIP is for real! I did read somewhere that it is in a bid to allow the whales and market manipulators to get in and buy more bitcoin for themselves at a reasonable price. I also believe that whatever goes down must come up again and while I await this eventuality, I will hodl on to what I have and will not be deceived to selling off at a pitiable loss. |
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If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
The question of how government can tax or trace earnings can be made easy if the government now agrees to be identified fully with cryptocurrency in its respective country. A particular fee can be placed on each transactions made of a particular amount in a month depending on the volume of what is being traded. |
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It is quite a big shocker that we got a big DIP surprise while virtually everyone was alert waiting for the bull run! The only news with ray of light of hope is the Switzerland Bitcoin ETF which I heard is already being introduced to help give a lift to the bitcoin market price which in turn has a ripple effect on most of all the altcoins.
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My advice for you is to go for a good physical business which you can see and have it well monitored. Cryptocurrency is a very volatile market and will not advise someone just starting out on business to just dabble into it without some real training and also some financial backup should in case things go south. I will say the risk involved in cryptocurrency is higher compared to a physical business; with respect to the kind of business though.
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Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub. https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/Well, I am an African and I do not agree with the point that poor interent will hinder one or pose as a threat to Cryptocurrency adoption in Africa. I can say that quite a lot of Africans are already in the competition market with other foreign countries who boast of good quality data services. I haven't heard of any serious complain of data with those fully involved in the cryptocurrency business as this is well sorted out. |
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https://www.cnbc.com/2018/11/01/fintech-banks-face-extinction-phase-amid-new-financial-technology.htmlRapid changes in financial technology, or fintech, are shaking up the global banking industry. Banks must adopt new technologies to survive an ongoing “extinction phase” wrought by such tech, according to Stephen Bird, Citi’s global consumer banking CEO. While new technologies cannot be ignored, bankers say the primary aim is to use them to provide the best service to customers. Hard figures on how much the new wave of technology has disrupted retail banking are hard to come by, but analysts have stressed that the challenge is real. Do you think the tech here includes blockchain and crypto? I do think the technology advancement being referred to here also has to do with bitcoin/cryptocurrency and blockchain. The banks are expected at this level to have imbibed some of the blockchain advantages to live up the current pace of technological advancement; having an ease of processes in their service delivery. |
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I wouldn't term this as fear really but a major concern/worry. This is the issue of not being able to predict in reality the movement of the volatile cryptocurrency markets. You actually can't attribute the dip or the pumps to something specifically and also point out the real market manipulators! If this view resurfaces every where, Investors will sure bail out!
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A real die hard Cryptocurrency Enthusiasts here! As an effect of the current dip on me, I found out I am no longer excited in checking my wallet balance and not expectant of any pleasant surprises. This still means hodling for me and no selling off! It is also a thing worthy of note that the markets are still accessible!
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That's the black Friday,
this is why The dump is began, 1000$ drop. I hopeful about rising Bitcoin price.
what you Thinking about it??
Very optimistic about the bitcoin's price rising again but difficult to attach a particular time frame to it. Though the drop/dip margin is relatively high, I noticed the price fluctuations too have been erratic; high volatility rate. I see a profit making season for the arbitrage sector of the cryptocurrency. |
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Are we seeing the beginning of the end? Could this be it? Could bitcoin actually go to $1000 USD? What do you think of the current scenario? Are things looking positive or negative? Tells us why. I see negatives right now, like this thing could fall some more. For one, because the feud between VER and Wright. Switzerland just approved the world's first ETFs but their Market has only 1.3 trillion U.S dollars, nothing compared to Wall Street. Check out the article below on what the SEC might do with the upcoming ETFs review. They will probably deny or postpone. https://cryptocannibal.com/2018/11/14/why-the-future-of-a-bitcoin-btc-etf-is-uncertain-with-the-current-bch-hash-war/Another factor that may cause BTC to crash right now, is slowing global economic growth. Oh, and lets not forget the fear index. https://alternative.me/crypto/fear-and-greed-index/Retail investors are very uncertain about bitcoin right now. What are your thoughts? As I will still maintain, looking on the brighter side of the dip that this is also an opening for new investors to come into the market and not actually signalling a panic into the markets. My colleague confirmed to me that now is the best time for him to now make purchase of some bitcoin and more ethereum! The market is virtually still very active with demands and supply and it will all result in the future sustenance and boom of the market later. |
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