at the end of the day people are buying bitcoin for two main reasons:
1. it is a decentralized currency that nobody can control, censor, tax, restrict, ban,...
2. it is a good investment that appreciates more and more every day.

when a country releases their own coin it will lack both of these aspects. it will be centralized which means a lot of people won't even get near it because it means even more surveillance on what they do compared to when they are using usual fiat methods. and they will keep the price stable which means it can not be an investment either!

i'm sorry but there is nothing you can do now to "better the situation". you have made a mistake, a big one apparently. learn from this mistake and do not repeat it and move on with your life with a precious experience.

never gamble or at least do it with a very small amount that you can afford to lose! gambling is risky. there is also a house edge which means the house always wins. it is a known fact, there is no need of any warnings. try gambling for fun not for money making.

always invest what you can afford to lose, and don't invest in altcoins randomly just because you feel they are good. try educating yourself and learn more about the market.
don't make your past mistakes again and you will make that money back in no time. and if you can't make profit from trading altcoins, then don't do it! it is not for everyone.

competitors are the 1500+ altcoins that are out there which also happen to have very unique names and started from scratch even though they forked the code from some other project. and they never claim to be "real bitcoin", they sometimes claim to replace bitcoin which is bullshit but that doesn't make them scam.
but when a coin which is NOT bitcoin tells everyone that it IS bitcoin, that makes it scam.

with that said, unfortunately the exchanges which earn money from fees,... sometimes don't care about these things. and BCH has a decent volume which makes enough incentive for places like Coinbase to keep it there.

TL;DR
you gambled your money and lost it. you didn't even gamble it on a provably fair dice game. you gambles in a place that is shady and is definitely not provably fair, ie Yobit. and now you want advice on what? next time don't gamble!

yes but as long as those people are honest and willing to help you learn more about cryptocurrencies,... not just hype you up to buy some shitcoin that they are bag-holding. an i am afraid that the later is more true when it comes to a newbie asking for help around these parts!

additionally you should never forget to use your own brain to analyze what everyone is telling you and try to learn not just follow others blindly.

my investment has always been 100% in bitcoin and it will always remain that way for as long as i can tell at this point since i find altcoins useless and without proper future.
however i will make a nice investment with my bitcoin in ethereum if i see the bottom and observe some recovery patterns shaping up. even if i see a dead cat bounce i will jump in (there was actually a little one today). because since ETH is one of the biggest pumping coins out there it will have a big pump after all this and i would love to increase the amount of bitcoin i hold thanks to its pump.

i am going to give you the same answer that i would have given you if i saw this topic back in 2017-12-04.

you can't predict bitcoin price with any kind of pattern extrapolation, analysis, .... there are lots of them out there at any time they all contradict each other. some come true and some don't. those that come true give a false sense of "correctness".

although that is just my opinion, based on what i have seen in the past few years with bitcoin and seeing how unpredictable it is. i would still love to see these extrapolations though.

every ski ramp has an end too, eventually. and the lower we go, the closer we get to that end where there is nowhere to go but up.
i fully agree that we should wait and see where the bottom is but buying bitcoin has never been a bad idea either. i will go as far as saying those who bought at $19800 or $20 on some exchanges are not going to regret it in the near future either.

true about India and all that but the drop is more complicated than just negative news and panic at this point in my opinion. a lot of manipulation has gone into it to push it down and now it is on a slippery slide, specially because people are no longer sure about the bottom and the current trend so the buy support is no longer as strong as it normally is.
bad news is yet another excuse for people to become sure of the downtrend and continue their dumps/shorts.

p.s. on the other node have you seen how the old FUD relics are being brought out of the attic these days?

market is so random these days that it may as well go up that high in a week, LOL.
but i wouldn't count on it yet though. this current drop doesn't seem to be over yet. the whales have just started fattening their pockets and everyone else is joining them just now. so the "feast" can go on a little longer.

what you are asking is about Verge price.
currently there are 14,557,107,775 Verge coin available (i don't know how many new ones are created every day so i don't include that in my calculations). in order to have market cap of bitcoin verge has to be worth $9.40 ($136,706,284,282 (bitcoin M.C.) / 14,557,107,775 (verge supply))

it currently is worth $0.05 so you are asking for a 18,800% rise which is not going to happen for useless altcoins. the biggest one which was the most hype (XRP) reached 7000% pump last year and that was it.
not to mention that Verge was recently pumped and the pump was barely to $0.25 and now it is in the process of bubble burst aka dumping.

demand doesn't drop because of supply. demand is demand. think of demand as the number of people willing to buy the coin, this number depends on a lot of factors and change based on them. for  example the main reason is usually speculation reason, simply expecting price to rise or fall due to news, pumps,... then there is also usability for example using bitcoin as store of value, use it to buy stuff,...

the way supply relates to this and then determines the price is that when there is more coins than there is buyers the price continues going down. imagine there are 100 people wanting to buy a coin that has 10 coin supply versus a coin that has 10,000,000,000 coins.
and supply in this case is not just the circulating supply of a coin, it is the coins that hit the market. for example a lot of coins (like XRP and ETH) have "unaccounted for supply" which is a lot bigger than their circulating supply. for example ripple has 100 billion total with 39 billion released but a small amount actually in the market. ETh has 97.4 million coins while having 70 million premined and lots of it locked/burned in smart contracts.

best coin in the market is a cryptocurrency that has either of two different things:
1. is a solid cryptocurrency that lives up to the name and focuses on being decentralized and a currency.
2. is a good pump and dump coin that can give you a big amount of profit in a short time.

you need to choose which one of these you are looking for. people keep repeating a fixed set of names: ETH, XRP, NEO,... blindly without understanding what they really want.

if you want a solid one (#1) only bitcoin is the option
if you want a pump and dump coin (#2) then look for  coins that are smaller not the big names that are currently in big bubbles like ethereum which is losing 10% per day consistently.
some examples from previous days:
BitCore: pumped ~70% in less than a week
QBC: pumped >1000% in less than a week
BCD: pumped >300% in less than a week.

if the "general population" is only interested in bitcoin and the blockchain technology to make profit then it is best if they lose interest sooner than later. and in fact that is why most of the altcoins crash and never come back to life because people are only interested in them only for making money and when their pump-ability reaches its end they give them up.

but bitcoin is more than just money making which is why it has always recovered from all of its crashes. and the more it is used as a currency the easier that recovery is going to be because that utility is what keeps bitcoin strong.


cryptocurrency is supposed to be a decentralized currency which is censorship resistance and is easy to use as a currency. the closest we get to this definition the higher the value will be. so as a side effect of this, prices will be rising and falling like this in short term but rising in long term. because in short term the wanting-more-money people are in and in long term the rest who understand the power of decentralized money.

no.
the drop would have happened like this one way or another. the negative news that you keep hearing has been around all through past 9 years. none of them are new. they may have grown in number in 2017 but as you can see price was rising in 2017 despite all the same news being around.

mainly panic sell due to manipulation of the market and lots of FUD.

the massive rise was an indication of a big follow up drop. maybe not this big but still...

yes it will because the potential of bitcoin has not gone anywhere. it is still the most solid cryptocurrency among nearly 2000 cryptocurrencies. and the adoption of it is also growing specially with additions such as lightning network which will help with the usage as a currency.

it may be best to wait a little longer if you want to have your mind at peace.

have you ever seen the list of altcoins? if you haven't already go here: https://coinmarketcap.com/all/views/all/ and then click on the price column header to change the sorting of that list with price. check the lowest prices. not only there are 1 satoshi coins but also there are coins worth much less than 1 satoshi.

in case you are wondering how that is possible, these lower than 1 satoshi coins are being traded with coins other than bitcoin. for example with dogecoin so they can have values less than 1 satoshi!

i think we will see some serious pumping of RaiBlocks/Nano which had its re-brand yesterday if i am not mistaken.
sadly i am on none of the exchanges that have this coin listed! for the past day i have been watching the potential profit slipping away right under my finger

right now it is 183000 satoshi. lets see how much higher it will go so i can regret it even more...

no, i doubt anything can overtake ethereum as long as people don't care about the project itself and the productivity of the projects. so far all they care about is money and how to make more of it. and because of that they never invest in any altcoin for long term. they either learn how to trade which means short term holding during pumps or they are newbies who buy on top and become bag holders.

and because of that coins like ETH which have big whales with deep pockets (the centralized foundation) keep its price up and doesn't let it fall.

if the way people treat altcoins changed, ETH would have dropped to $10 in less than a week and good projects with less serious bugs would have grown big.

well there have been a TON of altcoins that performed amazingly during the last four months and last year  generally. a lot of them even outperformed ethereum in the past couple of months. but the issue with most people around here is that they only look at coinmarketcap and don't bother going lower than #10

the real money lies within coins that are manipulated exactly like ETH but have a smaller market cap and price so they can be pumped much easier.


because bitcoin has 16,800,000 coins while ethereum has 97,330,000 coins. that is 5.79x more supply while it has 0.63x bitcoin's market cap!