Volatility is part of Bitcoin nature, it's simply how it's functioning. This can't be changed and you can avoid it so every time you make an investment you should have this in mind. No matter how some would want that Bitcoin will not become stable coin. I don't think traders would even want it because afterall volatility is something they make money on.
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Savings is not something that could guarantee it will keep the value or even increase it. That is why because of volatility isn't the best thing to do to save in cryptocurrencies or least not the entire savings. But the same could happen with fiat funds, especially in different pension funds so even to save carries certain risk. I think that the key is to find the right balance between saving and investing and minimise the risk. But that requests a lot of analysis and watching the trends so sometimes it's better to leave that to experts.
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Is current crypto downward trend only temporary?
Absolutely not. After the $20k ATH bitcoin entered a long term and final downtrend (you need to ignore the recent price spike, because it's aberrant and irrational). Bitcoin will trend to sub $1k prices over the next couple of years because it's been proven by science to be a flawed project. A cool experiment, no doubt, but it didn't work. There will never be another ATH for bitcoin. I wish you made some proof for this scientific research that you mentioned. I never heard of such thing. Yes, it's true Bitcoin has some disadvantages and it's not perfect but so far we have heard so many predictions how Bitcoin will vanish and become worthless but something like that still didn't happen and honestly I don't think it will. No matter to all Bitcoin will survive and will have some good and some bad times, like everything else.
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Well, I guess nobody has cristal ball to predict this. Yesterday we had slight correction but it seems price is moving forward again. There were some predictions that price might cross 15000$ soon but honestly I don't think this will happen this or next month. Despite corrections that will happen along the way I also don't think that price will go below 9500$.
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You might be pointing out on hackers planning to attack exchanges and other platforms that are holding bitcoins. This attacks really make bitcoin and cryptocurrency less secured as of now. This is a long-time issues that still need to be resolved.
Of course that is an issue and always will be. Hackers are attracted to everything that brings them money, so cryptocurrencies are target too. But governments don't have anything to do with that. I.guess some people just can't live without conspiracy theories and every time when the price drop is either whales or governments to blame.
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At the moment we are in the phase of correction that actually interrupted bull run. I can't say that I see some similarities with 2017, situation back then was quite different but it seems that every time price starts to go up people hope that 2017 scenario will repeat. There is still time that price goes over 15000$ but don't expect that this very moment, maybe in the last quarter of the year.
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To my opinion it was because of exchanges. Situation with coinbase interrupted positive trend for a while but enough for market to lose confidence. Now some representatives of conspiracy theories would probably say that wasn't accidental but the truth is you can never actually predict such situations. Anyway, we'll see how far current correction will go, maybe is this just small temporary disturbance.
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Every year the end days will have big growth in the price unlike the special events taking place. This time too the expected growth was by the month of December. Luckily there were good support for Cryptocurrency all around and the same has led to such a growth by the middle of the year. Now the same looks to be taken forward as we're to experience the halving by next year. The growth we see at the moment isn't manipulative, it is growing by its own overcoming lots of FUD and negative things spread by whales to manipulate the market.
It's interesting how people always expect price growth at the end of the year although there is no some solid proof for that. Also it's hard to tell if currently this is the best period for Bitcoin this year or best is yet to come. The price might continue to grow over 15000$ or more but don't forget that corrections are possible too. And the role of whales is exaggerated, at least this last growth isn't because of them to my opinion.
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Those who think that fiat currencies will be eliminated live in utopia. This is simply not possible, no matter how much cryptocurrencies are being developed and accepted. There is no country in the world that would replace fiat currency with crypto, there is no ground for that and cryptocurrencies are not the pillar that could fully support any economy and society. But the role of Bitcoin and other cryptocurrencies is not to replace and eliminate fiat, I seriously doubt that was an idea, but to give some kind of investment and payment alternative that could function along with fiat but based on totally different technology and concept.
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I'm not sure this Bitcoin growth has anything to do with Facebook. Price rise started even before Libra coin was announced and if that pushed further pump it's very hard to say. Personally I would say that recent price rise is due to current conditions on the market that are very favourable.
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Actually I'm one of those who believe that Bitcoin should be actively used. There is no real purpose of it if it just stays idle in some wallet. Bitcoin is not only investment that you forget about once you put your money in. It should be used as a payment method, for transactions. I think that people often forget that Bitcoin has its use in real world too and if we don't promote it with the actual concrete use why how can we expect some mass adoption and wide masses interest for Bitcoin and other cryptocurrencies.
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Bitcoin dominance at this rate is not a healthy indicator for the market. It would be healthy to my eyes if I see a respective increase in altoins' prices instead f just bitcoin's. Even if altcoin prices do go up there is a limit due to the amount of money going into alts drying up now. IPO/ICO projects launched in 2017 have begun to lose investor interest and we are starting to see that in stats with bitcoin beginning to regain its former greater dominance over the crypto ecosystem. In the next 12 months i would not be surprised to see bitcoin back at ~75% of total crypto market cap. Just my take on things. For me this is not a surprise. To be honest I never beleived in altcoins although I think it's good to have variety in the market. It was obvious that many investors that were enthusiasts about altcoin at the begininig will end up disappointed and turn back to Bitcoin again. Too many totaly missed ICO projects don't give confidence. So I strongly beleive that very soon Bitcoin will catch 75-80% market cap again.
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That depends what you consider under term wealthy and what country you live in. This question becomes especialy relevant when price is on the rise like currently. I think you can make decent profit and improve your financial situation and also make some savings but to my opinion only few have become really rich with Bitcoin.
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I'm not so sure such claim is true. None of these countries doesn't have positive regulation of Bitcoin and didn't include it formaly into society and economy. And supporting blockchain technology, which they do, is completely different from supporting cryptocurrencies so.don't mix these two things. Blockchain as a technology is very wide apllicable, almost in every industry today and more and more governments are aware of that and want.to improve and further develope their economy. But supporting blockchain and supporting cryptocurrencies are totaly different things, don't forget that.
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Although 15000$ isn't exaggerated value and currently seems it will be not hard to achieve I don't think this kind of logic is fully applicable. Then you could easily say when price passes 15000$ it could easily go all the way to 20000$ or more but we all know things are not functioning that way. There is no analysis that could guarantee anything and tell you the exact value, it could only be some kind of guidelines
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The price rises so fast that scares me a bit. I prefere slow rise compared to sudden pump that we are having now. If the current trend continues then it's not impossibe to touch 20000$ or even more by the end of the year or sooner. Still I think there will be some corrections but it's hard to tell how deep will they go.
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Well, if you invest im Bitcoin for the first time not it's not the ideal time for buying. One of the golden rules is to buy low and sell high and at the moment the price is on the rise. Still it's never too late to invest if you have made some good preparation in terms of collecting enough information and strategy and you have some realistic goals. That is very important, to know well your possibilities and limits, how much you can afford to lose and what is the goal you want to achieve.
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Bitcoin is not a state to have government. What kind of idea is that? Besides Bitcoin is functioning on principles of decentralization so every atempt to create some centralized body that would rule it is against its nature. Sometimes I really think that some people here don't have a clue what they are talking about.
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The price is heading towards 11000$ and it's very close. Actually everything is happening so fast and I'm a bit scared this is not going to last long. Although I beleive if the price crosses 11000$ there is a good chance for the growth to continue, the question is only what is the limit this time. Still I'm prepared for corrections too so smaller price drop at current level wouldn't surprise me.
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It largely depends on the amount of money you want to send but again few smaller transactions are always an option. There are some instant payment services available online but I don't know if they are applicable in both countries. There is also a possibility to send money on one of prepaid cards but like I say much is depending on amount, currencies, local regulations etc.
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