Price drops aren't indicators of buying opportunities, we have seen that this year. Every drop people thought to be an interesting buying opportunity has been a bad price to buy at, and I don't expect anything to change.

People need to understand that the price can always go lower in the short to mid term. Mining cost is no indicator either with how a lower difficulty means lower production costs, so keep that in mind.

As we speak, we're due for an 11% drop in difficulty, and I'm sure we'll keep seeing it go down because there is no end in sight, especially if tax sales turn out to be a thing in January and February. Be conservative. Expect worse.

Isn't the underlying problem of this that users don't know what they are investing in? If you blindly buy into something so speculative, and news outlets are your main way to know what's happening in the space, then you are asking for problems.

I mean, no one wants to be sucked into this, but you can research what you invest in and from there try to verify every bit of news yourself by going straight to the source, which mostly will help you calm down.

News outlets spice up their content to attract clicks, that's how they make money. Drama is what sells, and it seems to be an effective way of making money, because it works each and every time. Noobs never seem to learn from their mistakes.

I see people constantly talk about hodling as a last resort plan during this bear market, but as soon as the price drops a bit further, the fear start to creep in and they end up selling anyway.

It probably comes from the fact that people believe that if the price has gone done with whatever crazy amount, it won't drop further, but they fail to understand that crypto can always continue to drop way below any "low" level.

Come on, it's crypto. It's not that there is an underlying revenue and profit stream you can hold on to, this is all extremely speculative. That Bitcoin has long term potential isn't what people think about right now....

I actually consider a well diversified choice of payment to be a healthy form of progress beneficial to every layer of the economy. Also, being forced to use digital payment solutions significantly impacts your privacy.

I like that with cash you don't continuously being tracked by the store, bank, government, and so forth. Every bit of information they store can and will likely be used against you in the long run.

I have already seen that someone sharing pics on social media of a not so healthy life style being rejected from getting a regular cost health insurance. It was either pay a premium or try your luck elsewhere. That's scary.

It makes no sense to me to use a crypto related debit card to spend fiat the same way I can spend fiat already with my legacy debit card. I rather convert the coins to fiat myself and then spend them whenever I want.

I might sound a bit like I don't see much utility here, but it doesn't solve a problem because you are still spending fiat and not crypto. You basically put a jacket over something that already works well.

I rather see more merchant adoption accepting crypto currencies for what they are, and not advertise something that has no meaning here. Crypto is here to improve the way we conduct peer to peer payments, not support fiat.

That's what I have been reading about as well, and when you actually start to do your own research, the insider trading accusations start to become more than obvious with the connected market activity.

Some coins have been pumped out of nothing before Coinbase announced they were considering listing them, and later you find out that these coins have been added to Coinbase.

It's pretty shocking that one of the most important fiat entry points is participating in this shady business, because no one gives a shit about coins as 0x and ETC, especially not after the investors are done dumping.

Makes sense. I have always believed that whenever an ETF would have been approved, the price would increase beforehand due to insider trading. As long as that doesn't happen, there is very likely no ETF next year.

It was also quite interesting to see how just before Bakkt announced that they wouldn't launch this year but in January of next year, the price tanked hard. I doubt this was coincidence.

Makes you wonder about what's going to happen next month, because another dump before their launching date will likely mean another delay. A pump in that scenario means it's approved and they can start....

Seems like a perfect opportunity for the market to capitulate even further, because honestly speaking, the market shocked initially, but seems to have calmed down again, which I didn't expect this early on.

I wonder what the next ~10% difficulty drop will do with the price, because that means even lower production costs and probably a lower price. I hope that I'm wrong but can't take anything for granted here currently.

Buy support is poor and there isn't much room left to the downside with how we're only a single dump away from potentially triggering stop loss orders placed just above or below the $3000 mark.

Coinbase is quite expensive to buy Bitcoin or any other crypto currency from, which is why most of the users switched to Coinbase Pro. I'm sure this is an aspect where you can gain adoption with against Coinbase.

Competition in the space leads to better and cheaper services, but it seems that Coinbase doesn't care because of it's economical position. That attitude will cost them users in the long run.

We'll see where it goes, but I love seeing Coinbase getting its ass whooped due to their arrogance. People will always have an incentive to use services providing the same quality service, but at a much lower cost.

Day trading is quite similar to gambling, especially in the current situation. Some traders even apply a martingale method by increasing the position after each losing trade hoping that the next one will be profitable.

The far majority of the people are gamblers. Their investment strategy is to buy at x price and unload when it did a 10x. These people are responsible for what we went through last year and what we're going through this year.

Being realistic is important, because being overly bullish blinds people and makes them ignore 'flaws' crypto definitely has to deal with, and will probably continue to deal with in the coming years.

That, and it makes way more sense to build a strong web of regulations around crypto than to ban it where possible, because bans have proven to drive the herd to local markets where governments have zero control.

I have always thought of regulations to be a far more powerful tool for governments to use--abuse against people in order to keep check of money flows and whatnot.

I think that it's only a matter of time before we can expect similar action from China. Overall, less hostile measures against crypto is always a plus in my book, so let's have that work in our favor to grow further.

It seems that we're doing exactly what we did last year. It made no sense to break high after high for most people, and the same is happening right now with how they continue to be shocked about the lower lows.

I wish we never had that $20,000 pump because it makes the market looks silly. A very small time frame where the price was hovering over $10,000 will result in the market to keep bleeding because it looks way worse than it actually is.

People that were complaining about the $6000 mark now realize that it wasn't all that bad. Months of boring stability above $6000 is much better than seeing the price tank to where it is today, right?

I planned to spend some coins during black friday and cyber monday sales, but the market was sold off to such degree that I didn't proceed, and I'm sure that the majority of the holders didn't spend even one single satoshi.

In other words, that makes it even less likely that these holiday sales had an impact on the price. Bitcoin itself was subject to a heavy discount and at these prices it makes no sense to buy anything other than Bitcoin.

Maybe that an end of the year mini rally might motivate people to spend some coins on Christmas sales, but you simply can't count on anything with how bad the sentiment currently is...

It's too late already to do so. People not knowing how this market works generally do the wrong thing time on time again. People bought at the wrong time and right now consider to sell at the wrong time.

I'm not sure why people constantly feel the need to do something in a market that doesn't signal anything other than uncertainties. Doing nothing in this case is better, especially if you hold Bitcoin already and don't plan to buy more.

Where you in traditional markets have the weekends to calm down after steep price decreases you are confronted with them continuously in the crypto market. Maybe a good idea to take some distance for a month or two?

This is the trading volume you're talking about, which isn't really that interesting at this point with how there isn't much happening right now. I expect the volumes to surge significantly when Bitcoin tests the $3200 mark again.

It really seems that everyone is just dollar cost averaging into the market where no one is willing to pull the trigger and go big at any level yet, which is understandable but it doesn't help making support levels stronger at all.

Last year no one here could have guessed the peak and currently no one possibly knows where it will bottom. I do however remember that around December of last year people expected $50,000 and currently expect way a lower bottom.

Markets don't peak or bottom where you want and think they will.

I understand why you feel like that now the price is going down, and that for a longer period of time, but you'll be heavily disappointed to hedge against Bitcoin at this point, because it could just as easily bounce back up.

I'm afraid that you're a bit too late now with looking for a way to hedge more downward pressure. It may not be what you're looking for right now, but why not dollar cost average into the market right now?

It will help to take down your overall buying price and thus bring you back to paper profits much sooner. Those who bought near last year's all time high could have taken their overall buying price well below $10,000 by now...

They serve a small but important purpose. USDT does exactly what people want it to do. It enjoys so much global adaption within this ecosystem, that it's probably the only token that's actually used the way it should be used.

People don't trust Bitfinex either, yet continue to use USDT to such degree, that it generates twice as much volume as there are tokens in circulation. If that isn't actual utility then I don't know what is.

USDT is subject to a constant dose of shit and fud, yet it still manages to remain on top of the industry. I'm not saying it's a fantastic addition to this industry, find it shady to a certain degree, but it works and that's what matters.

Calvin Ayre called it a painful war, and CSW toned down when it comes to his prior statement to dump BTC to $1000. This whole war thing was futile anyway with both ABC and SV adding checkpoints...

The only thing they did was tarnish their own reputation and show that they aren't as wealthy as they want you to believe they are. Too bad exchanges only care about profits, because both ABC and SV should be delisted everywhere.

I'm very curious to see Bitmain's latest report when it comes to their coin holdings. They must be approaching 1.5 million ABC coins by now, and of course how much of their BTC holdings are left.

I'm afraid that if we do hit $3000 we'll break it with at most 2 attempts. The thing is that with so much believe in that level, the market will likely do the opposite similar to what it has been doing this whole year.

People fool themselves if they believe that there is a level we won't fall below because of miners needing x level to not lose money. We have seen that the difficulty adjustments take care of that...

Overall, I think we should lower out expectations significantly to not yet again be disappointed in the market. Panic sellers don't care about triggering stop loss orders, they sell because they are genuinely afraid of losing it all.

The market is definitely irrational, but it's not a surprise at all that when the price goes up people become overly bullish, and when the price dips they become overly bearish. In other words, people follow the flow of the market.

Some guess based on nothing but hope and believe, others do it based on TA, an educated guess is what people call it, but it's still a guess. At the end of the day, the market doesn't bottom where you expect it to bottom.

You either dollar cost average your entry points whilst the price is going down, or you'll miss out on buying near the bottom because you keep expecting it to go lower. If Bakkt's futures are approved the market might see that as a reversal.