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Since bitcoin is volatile, seeing a drop by 2k usd in a day is just a normal thing, if it had gone up another 2k usd, the reactions wilk be different, since bitcoin had capital gains then, but now its a loss, but come to think if it, more and more people are becoming aware of what bitcoin is today, and that there are other cryptocurrencies as well, there is no doubt that conglomerwtes will soon adapt the technology of bitcoin and bitcoin as well, since there seems to be no more hindrance in the growth of bitcoin, and exchanges closing down, seems to be a part of having the blockchain technology, but bitcoin will still be there, even if exchanges shuts down or just popping out like mushrooms.
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Most of the people i know who have invested in bitcoin around that price, had already cut their losses once the price went down to 10k usd, it seems that FOMO was overwhelming at that time, what they lack is financial education, what they did was just ride the bandwagon and gotten greedy, they also forgot to do their own research. What's funny is when I told them about bitcoin around the 4k usd price, they said it was already high, but they invested at the 18k mark and above. Financial educational still needs to be done for them and more on investing, if they want to gain more from bitcoin, since it is a volatile investment.
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I do not consider whatnwe are experiencing now as a tough time, since all investments have thensame characteristic, they go up and go down, as of now, we are experiencing a correction of thr market, if we can recall, bitcoin had reached 20k usd in no time last year and profit taking seems to take place, there are also some issues with the exchanges, however, this does not stop bitcoin from being a digital currency and an asset, i think what we should also consider is the purpose of bitcoin, so we will not be worry, let us all keep in mind that bitcoin was created to make transactions much faster compared to banks, and the value just comes is second, do not always give in to FUDs, even if there is confirmation, as long as you know why you are investing in bitcoin, i think you'll be fine.
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The barket will always be therr and you do not need to wait forthe bull run, as an investor you may want to broaden your investments, since there are a lot of coins out there, you need to do your research, there are coins that arr good for trading, judt like ADA before, since it became that volatile, you may also want to check out POS coins, since it will give you stakes, its like mining, but you are not mining at all, you can also try Master Nodes, a good example is Dash, just make sure that you know how to update and protect your system. Di no just rely on exchanges and news, also check out other ICOs or pre-ICOs, in which case, you can earn more..
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Theoretically it might happen if most of the people who holds bitcoin will dump theirs, but it is unlikely to happen today, since real investors had already taken notice of cryptocurrencies and not only that, conglomerates are also looking into the technology of bitcoin, and with this move, there is no doubt that the price will rise, even if there would be a regulation, bitcoin will still remain to be anonymous and still is much faster than banks, when it comes to transactions, though there are also a lot of coins that arr similar to bitcoin in characteristics, the risk is much greater, since it will depend on th dev of the coin if it will work and also within the community of that coin.
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We entered the year, bitcoin had hit its lowest below 6k usd, since therr seems to be a lot of dumping and news from mt.gox, seems to scare investors and i think even whales had dumped their coins. For this first quarter of the year, it is clear that bitcoin had already bounce back and will continue to make a bull, still there is a threat from mt.gox since they are still about to release the bitcoins they are holding, and the price might go down during that time, but as far as the value goes, the price might go over 40k usd at the end of the year, if history will repeat itself, but this time, bitcoin has much more support from real investors, unlike before, most people who invested in bitcoin just went along with the waves.
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Theoretically speaking, yes, it can go down to 4000 usd or even lower, it can also go even higher than its all time high which is 20000 usd, but i do not see it going lower than 1000 usd or going back to its original price which is less than 1 usd. If we look at the chart, the volume of trade is high and a lot of people seems to already had taken profit, we should be weary of the price going down, since those people who had sold their bitcoins at a high price will surely buy back whenever there are signs of reversal or if the price is alrrady at igs lowest and not breaking any support, i think we should also consider using fundamental analysis at this time.
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I think the reason behind it, is that people who are earning money are more acquainted with using fiat, since that is what they were born in to and what has has been taught to them or what has been conditioned to them that only fiat is money, but to those who do more research and knows akt about technology and investing, the answer is deifferent, we do not need to rely on fiat, since we can use crypto for our transactions, both are the same, but crypto is much better in manh ways. Unfortunately, only a few percentage knows about the technology of crypto and investing, compared to the those who were trained into using fiat.
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There is no doubt that banks will fear cryptocurrency, since banks are also holding currencies for themselves, and it is a business for them. Once people learned how to use cryptocurrencies and take advantage of the security that their wallets can provide, there will be less and less people that will go to banks just to save or jvest their money on, since there is already an alternative way, in which it is much safer, costs less and much faster than the traditional banking system. Cryptocurrencies are no doubt much superior than banks, but still needs more improvement is some parts since people are just starting to like cryptocurrencies as a whole, not just bitcoin.
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From what i see and hear and alsk have had experience, there are several mistakes that investors always do, first is they tend to think that they already know what they are doing without relying on the charts, they tend to speculate more rather than do analysis. Second, they tend to be greedy, they rely on their speculation that a certain coin will go high in value, but failed to do further research on the coin, they might bought it at a low price, but it may not go higher than they think, and they might just be set up for a trap. Third one that is see, is they go with the flow, they invest on the hottest coin and again failed to research the coin as well, theh never see to it, when is the best time to buy and sell, that's the reason why people loose a lot of money. The main reason that i see why investors makes major mistakes is that they fail to do research and in all cases, that is the reason they loose, be it a new investor or an old one.
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i think the Chinese new had a great impact on bitcoin's value today, since we can see the market going stable at 10k usd level, this might be a sign that more Chinese investors are returning since they want to have a prosperous new year ahead of them.I think we can also based it on the historical trend, that before any major occasions the value would rise weeks before then goes down a few days before and after the celebration, then comes to be stable afterwards, ten we have to wait again for another major occasion that would take place, I agree that it is somehow similar to what had happened during the holidays, but this time the percentage of the gains and loss is not high, compared last December. there are still FUDs that we see on the news but it doesn't seems to affect the value that much, since what I see is most of the investors that are HODLing today have strong hands and probably had already learned some valuable lessons in the past,. there are also those who had waited for this moment, that the price of bitcoin to go down and will probably grab mow the chance to invest, we can also see some altcoins being affected, knowing that the price of bitcoin has gone down people are taking profit from altcoins and converting them to bitcoins, thus make the value increase. also at this time of the year, the value might rise again since half of the world will be enjoying summer breaks and they will need to gain profit and then the cycle will just go on, until we reach another all time high.
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I think this is something that is not new, since last year, we had already deal with this kind od scenario in china. China seems to just want crypto currency to be regulated to avoid scams and to not mislead people into bad investments, since there are a lot of chinese that knows how to fake soemthing, including websites and as of now crypto currency, probably this is the reason why they want to control exchanges, if an exchange had been created full of scam coins, their people might lose more money than gaining them. This type of news will again filter the market, those with weak hands will surely rely on this news in order to start a scare, thus panic selling.
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Btctalk name ivrynx
Rank full member
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Hope to be accepted
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Checking crypto prices is always crucial, we all want to make sure that our coins are gaining more than expected, especially in times when the trend is bearish, we must make it a habbit to check daily for us to know when to exit, since we do not want to get in a bull trap or a bear trap. Our entry will make sure that we will gain more profits but it is the exit that counts, since it will determine how much we gain or lost, also we can see the trend, whether it is just going to be a pump and dump, rather than waiting for some time for our coin to earn in the future, we need to see to is that our coin is also stable, not just being hyped.
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Since we live now in the digital age, almost everyone who knows how to use a computer can do hacking be it just a simple one or on a larve scale basis, however, those who really studied hacking are disciplined people, since hacking is not a bad thing, it is used in order to help programmers debugged or fix any programs that they think needs some improvement, however, thos are not inclined with the academia tend to use their knowledge in order to obtain easy money for them and have the good life. I do not see it being a problem, what we nust need to do is to improve our security and take risks, since everything is hackable noawadays, security is still the solution.
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Theoretically it is, being that the nature of bitcoin is highly volatile, but come to think of it, this is just a part of bitcoin's value getting a correction, if we can still remember, way back in december, there were people who are not investors that came in to play, they have bought bitcoin at a higher price, and those who had bought if at lower price will normally just take profit, leaving the weak hands behind, thus a drop in the price of bitcoin, and now we are clearly seeing the correction in the market, and that's the reason why the price is not going up by 50% or going down by 50%.
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Bitcoin will definitely be the future of money, and a lot of people will use it, as of now, a lot of people are still scared due to the fact that they are not investors in yhe first place, they just go along with the trend and think up of ways on how they can show the rest of us that they are profiting, but a different story when it come to real investors, why who'd we show to others the value of our bitcoin, just one thin is for sure we had gained profit, and that is what is important. In the future, if people will still act like they are new investors, history will just repeat itself, there will be large declines but larger gains in the market, but if people will understand what they are investing in, we'll see a more stable market not only for bitcoin for for cryptocurrencies.
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I do not see that bitcoin is dangerous, first, it was created as another means of currency, and it is tk halp battle inflation or recession, during the time of 2008, people were looking for ways on how to improve the finances and bitcoin being easy to mine at that time,some looked at bitcoin as ways on hiw they get out of poverty. Second, bitcoin is much more economical, you do not need to prinet or mint, it is just codes, in order for us to have a much better transaction than banks, third, in the hands of good people, bitcoin will help a lot of people, bitcoin itself is not dangerous, only those people who have bad intentions will make something that is made for the good of humanity into something that will destroy us, just like nuclear power.
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