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No, I don't think it will drop until 1000$ - Lol. You cannot rule anything out, of course, but Bitcoin has never lost more than 90% of its value. So you can calculate the minimum price it can reach. But I think that perhaps 50% retracement - which is the actual case now - could be enough.
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It is different because it is not issued by any central institution, it's decentralized, it's deterministically planned how many coins will be produced and when, and it's deflationary instead of inflationary.
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People sell Bitcoins either if they think that the price will tank, or if they need money to spend in the real world. Then another reason to sell Bitcoin is panic selling during drops like today.
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BTC is tanking and so many people are liquidating also their altcoins so as to go back to FIAT - this is why also alts are falling today.
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IF the price will resume growth relatively soon, THEN this little crash can be healthy - shaking off weak hands from the market.
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Hello Bounty Manager, I am now risen in rank to FULL MEMBER, please update it on the spreadsheet.
I also have been looking for an avatar to wear, but I didn't find it...
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the $8000 was finally broken for the second time now and we are officially on the big ass rise now. but this rise has left behind lots of wounded people who forgot to listen to advice of "buy in the dip" and were left behind. right now so many of them are creating new accounts saying how bitcoin is going to crash and how it is all a bubble that it is starting to make me laugh  anyways, enjoy the ride. see you at $10k I am feeling sorry for those who sold in last 2 weeks when the price was dipping and people were switching to bitcoin cash. I told everyone then and now also telling that original bitcoin is the real bitcoin and it will rise to the moon. If you have bitcoins with you and there is no urgency of selling them, then keep those with you and never sell. You can't even imagine what will be the price at end of next year.  I made a lot of mistakes myself and at some point last summer I had no bitcoins any more but only altcoins which were badly tanking. Then magic has happened again and now I am almost rich. Crazy things happen in cryptos. |
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No way to predict if Bitcoin will rise or if it will tank - short and medium term. The likeness of Bitcoin rising long term is quite high though, as more and more people get interested to join it and to buy it.
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Listen, in my first days as a Bitcoin investor I've also been cheated and pushed to lose my money and I have felt very pissed off and I thought I had lost all my money. I became a bagholder of worthless shitcoins, but I didn't sell them. Now I am a millionaire.
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The rising of Bitcoin's community is not only important, it is FUNDAMENTAL for Bitcoin's appreciation. Metcalfe's law states that the value of a network grows as the nodes of the network grow. People adopting Bitcoin are the nodes of Bitcoin's network. The more they grow, the better it is for Bitcoin's value.
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Bitcoin is for sure a store of value. Among certain circles of people it certainly already is money, since the people in these circles believe it is. Money is money only if enough people believe it is, and it is money only for them. This should answer your question.
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Frankly speaking this option makes absolutely no sense IMHO. We don't have an AI able to do things like that yet, and in 2008 such an AI could even less have existed.
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OMG these numbers are really staggering! By the way, I was one of those new users, since I have been using only other exchanges before, but I have just joined Binance as well  |
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ICOs are just expanding the world of cryptos into real life projects and products, so they are beneficial to give a reason to be to cryptocurrencies. That's the contrary of "killing Bitcoin".
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you can't just ask these "what if" questions without putting a little thought into it!
for example why would every single person involved with bitcoin decide "at the same time" to not buy bitcoin anymore at any price?
Yes, the question was not put in a clever way at all. If for some reason people would stop to buy Bitcoins, price would tank, possibly even to zero if no buyers appear as it becomes cheaper. |
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My bet is that Bitcoin will become irrelevant far before that moment, as new currencies rise in adoption and importance and solve more problems than Bitcoin and they do it in a better way. Proof Of Work, as it is now done for Bitcoin, is unsustainable.
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I would not spend so much attention to what these people are saying. They belong to another world, they have different motives, they just have to stay out of my life and my mind - and I'd suggest from yours too...
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I've made a transaction of 33 dollars worth of BTC 14 days ago as of now with an abominable fee of 12 dollars and still no one confirmation! Preposterous! How long should I wait?
It once happened to me too to wait for weeks. My advise is to look on the internet for some "BTC accelerator" website, where they submit your transaction to some gentle miner. I had solved my problem like that back then. |
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Let's hope this is just only a dip, and not the beginning of a bear market. In 2014 I have bought the dip, after the huge rise of 2013. Well, I had to wait until 2017 to see my money back...
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There are already some dedicated coins, like sexcoin, but it seems they don't get too much traction inside the adult industry...
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