Well that's just how the market play. And bitcoin has just risen today so there is still hope that the market will slowly turn back but let's not expect it would increase back the same price when it was around November till December last year. Of course it will start to grow again and will try to regain back from where it left off, hopefully.
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Most people who are freaking out about bitcoins price are newbies or those who just bought their bitcoin late last year which was the highest peak price of bitcoin last year and maybe their on loss for a huge amount and making them feel there is no chance for bitcoin to increase back again. But just hold on to your coins, it will increase back again slowly but surely.
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Not sure if it will reach that amount by end of this year but I do hope so though, I don't want to expect anything because I am going for long term for all of my investments including Bitcoin. And hopefully we will hear some good news about Bitcoin and the other cryptocurrencies as well.
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Woah that's a lot of coins to be holding on to. Why not cut it down to at least ten of your top most coins for long term holding. But I do see some coins that have great potential and some coins you have I'm not familiar with. And it is much easier for you to monitor if you have listed your top coins because there are some coins you have listed are those that are not really that progressing that much.
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Why would you want to quit? If ever this crosses your mind, find time to reflect and ask yourself why you started trading in the first place. The only way you can hodl is if ever you had some coins in an exchange site, make sure not to access them in times like these (when market is so red and so low), because it can make you feel frustrated and may want to withdraw all your coins and just get them with a lot of losses.
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But it also depends on where you are comfortable with and is used to playing. We all have our favorites and where we are comfortable with playing and if one is not used to playing games online then I don't think it will work out. And if I were to choose I'd rather choose gambling than playing online games because I could make money out of it.
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I definitely agree with the OP stating that these types of emotions could ruin your trading. But out of all these feelings, I think fear would be the most top factor that could lead to a lot losses. That's why most people who have been in trading for a couple of years always say it is not for the fainted heart, it is for those who have a lot of patience and would not be affected even if their portfolios are all red and stayed positive the whole time.
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I think it is hard for the market to fall because there are big whales that have invested a lot of their money with these cryptocurrencies. And the fact that it has been recognized already worldwide, there are still a lot of chances for growth.
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Bitcoin would be a good investment now that its price dropped to around $8k+. It would be an advantage for some who would buy bitcoin at such a low price because there is a possibility it would double up within a month or so but don't expect too much of it. You can't tell yet when bitcoin will increase twice its amount now however you can hold them if you want for long term if you want to invest it.
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I think some would prefer investing in bitcoin rather than in stock markets (although they're kind of the same) mainly because bitcoin is still new and there are a lot of opportunities if something new is brought up especially if its monetary related. And people do not need to invest a lot of money for starters if they want to have return gains within a year.
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Bitcoins price is actually unstable and some say it may go down a bit more in the next few weeks or so but I have been expecting this pattern so if ever bitcoin is still going down more then for sure it will be increasing back in no time, I don't think it will go down forever and there are only two ways wherein bitcoin goes to; its either going up or down.
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It could be because some got into the crypto world because of the hyped digital currencies that can make a millionaire in a couple of years. And when they see the market down, panicked and took out all of their money invested in these cryptocurrencies. That's the disadvantage of some people, they don't do research on the history of a certain coin and learn from its past market. But it could be an advantage to those who are holding their coins too.
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Where did you get this idea in the first place? Bitcoin is not dying I know for sure, there might be a correction from time to time or its price might be constantly fluctuating but I know for sure it is not dying yet. And it would be a good opportunity for you to buy bitcoin now especially with its price thats really, really low. Good time for investing indeed.
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I also bought the SC coin and got hooked up with trading this past few weeks. I have been trying to see which alternative I am good at whether it be trading for short term or long term but so far, I have been trying to do short trading but then the coins drop back to a low price. Currently at loss for SC but will still hold on to it and OAX too if you've heard of it.
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Do not really believe on what people say instead do some research and you'll be surprised at how the news are different from the rumors. And if you are able to read about the fluctuations of bitcoin then you would know that bitcoin usually increase and decreases its price from time to time depending on the news it comes out like segwits and hardforks. So my answer to your question would be, it won't stay low for long.
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If ever it ever reaches one million dollars, I would probably set aside money for future investments and the rest would be for my parents dreamhouse at the same time retirement home. Then I would give some for donation to those people in need and the rest would be for myself and probably go back to school and finish college.
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All I could say is that Bitcoin has been for a very long time and it had proven itself that it is the king of all cryptocurrencies. Ad if it hadn't been because of bitcoin, these other altcoins won't probably even exist. So for me that's just the least of the reason why it is much better than those other coins.
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These hardforks are needed for price correction and so investors could jump in the bandwagon. And most people who are holding bitcoin would benefit from these hardforks as well and some altcoins too.
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As much as I love the cryptocurrencies and I'm one loyal supporter to some of these altcoins, I don't think these cryptocurrencies can make physical money disappear. It's hard to make physical money disappear because these have been established long enough that it's not easy to outdo them.
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Most likely these are the so called “whales” that are controlling the market. And I think they want big investors to hop on the ride ever since bitcoins price reached almost $20k, so there was a slight price correction and after which I’m sure it’ll increase back again to reach a new all time high.
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