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It's not a small loss bu hope you counted with that at the first place. What people often forget is that trading isn't just profit but losses also come along.
The worst thing you can do is trying to recover the loss quickly at any price. That could only cause more losses.
My advice is to analyse the market carefuly and wait for the right moment to act, make a plan but try to recover that loss step by step. It might take some time but at the end it will work. And learn something from that for a future.
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Just the opposite, currently Bitcoin doesn't have some significant role in official economy. The reason for that is the fact that in most of countries Bitcoin isn't regulated and officialy recognized so the money flow that goes with Bitcoin isn't registered and counted anywhere in state economies.
So the economic effect of Bitcoin whether for individuals or some rare companies that use it limited for them only without any impact on the economy of state. Hope this will change in the future but for that we have a long road to go.
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I'm convinced this will happen. Bitcoin price will reach 11000$ and more but is the question of time. Sometimes things don't happen when we want them and how we want them, so patience is needed.
At the moment it looks like the price is going back and forth all the time and so we might get the feeling like the price is stuck but this will not last forever and sooner or later the price will move from the dead point forward.
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I think the best and good option to invest is bitcoin instead of altcoins because it is the good option to invest and good thing for trading point of view by following signals or without signals because it is the good time to invest and have a good profit also,
Before I was also thinking that it is better to invest in Bitcoins. Now I am sure that investing in certain altcoins, you can make much more money in the short time. That depends on your goals. I agree that altcoins could be very profitable but altcoin market is very big and demanding, new altcoins appear all the time and it's not so easy to pick the right altcoin for trading. So I think this is maybe the option for more experienced traders. Beginers might lose themselves easily. |
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I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
I remember the speaker when I attended seminar this past few months. We are talking about taxation and reform laws where he introduced to us that the government is us. He actually emphasized that the people who are in position are just an official of the government, we select them based on what we think it should be good for us, by the virtue of votes. We should not be scared in the officials of our country specially if we are in a democratic form of government. The mass is the voice and we can be an activist or refirmist against the ruling of the government. If they banned the bitcoin, we can complain to them specially if they did that for their own purpose only and not for the sake of the states/country. I can fully agree with that. Government is chosen by the people for the people so we are those who elect the government and decide our destiny. If we choose wrong and bad people then we will have the bad situation including those related to cryptocurrencies. So we have to think on ourselves and in what kind of countries and societies we would like to live in. If we elect prosperous and modern governments they will have also more modern and prosperous approach toward Bitcoin and other cryptocurrencies. |
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I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
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Sadly I guess people are stupid enough to react on such scams. I mean first thing they should ask themselves is why the owner of the website haven't picked the coins but is hiding "saving them for you to pick up" after you send him the money. I really feel sorry for people who pay... I don't feel sorry for them, it's the price they are paying for being naive and/or stupid but I'm surprised how after all this time such things are working and are able to attract more and more victims. How easy it's for scamers to make the mony and they don't even need to try hard. Will people ever learn something from their mistakes? |
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Currently the price is going up not down so maybe you have missed the most convenient moment for buying. But that doesn't mean that there will not be some downfall too so you have to be ready. When it comes to Bitcoin very often you have to react fast and make decision on the right moment.
But everything also depends on your long term goals and how much are you prepared to invest. Maybe current price suits you for buying if you can afford it and you will be patient enough to wait for the price to grow enough that you make decent profit.
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At the begininig I was often using localbitcoins. I have good experiences and if you find trusted seller there this could be the most convenient and the easiest way to cash out Bitcoin on various options.
But since Bitcoin debit cards appeared I use only that, both for paying or for cash out at the ATM. Currently this is the fastes and the most convenient way for me.
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By watching and analysing the market you maybe can get some signs of possible dump but still you can't know for sure. For that you would need a cristal ball.
But if you are a serious trader you will be ready for every scenario because you would know how easily market can change. Also with experience you will get some hunch that will help you to make the decision.
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I think that many people mix the meanings of legal and regulation. As far as I know Bitcoin was never illegal in USA but what might happen now are attempts for regulation and these are different things.
But I think it's yet to see what kind of policy will be introduced and how will be applied to Bitcoin and other cryptocurrencies. Also it doesn't have to mean that the policy will be the same in all USA states.
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I wouldn't be so sure that Bitcoin will never reach 20000$ again. No one can't tell that as well as we can't know where the final price limits for Bitcoin are. I beleive that Bitcoin still hasn't reached its peak and that there is plenty of space for further growth. If this will not happen as soon as we would like too that doesn't mean it will never happen again. We need patience.
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It's true that Bitcoin mining is expensive in terms of costs for our environment. And this is one of the bad sides of Bitcoin. But still the percentage of energy spent for mining compared to some other energy spender is not that significant that could lead to world destruction. But I agree that the whole human kind should be more worried about the future.
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I'm still not convinced that this is the permanent growth and market could change any time. I don't have the feeling this will be steady rise and the begininig of new pump era.
It's true that new investors are coming into market each day but still I don't think they are so noumerous they could influence a price movement. To me it looks more like a classic volatility process with ups and downs.
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Day trading and short term trading are very tricky and sensitive and to my opinion it's hard to be successful for a long time so you actualy need to estimate when to pull out. Losses are inevitable. But this is very individual, some general rule doesn't exist.
Long term trading is different story and such traders are in much more comfortable positions.
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I don't think there we were experienced some dark days for Bitcoin recently. Ok, the price wasn't growing but those period of so called stability wasn't that bad either.
For the next period is yet to see if the green days are coming or some dark clouds will be there too. Anyway, I don't think that price will have some big jump in the next few weeks.
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To my opinion the worst factor that can destroy trading is lack of patience and making decisions with too much emotions and not with cool head.
Other common mistake that traders often make is trying to cover losses as soon as possible and then they make big mistakes thinking the next trade will be their saviour.
Probably every trader has made some of these mistakes sometimes but the key is to learn from mistakes and don't let them happen again.
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I have to admit I gave up paying directly with Bitcoin. Too much complications and unconvenient situations. This is one of the problems that Bitcoin has and needs to be fixed.
The solution I found is Bitcoin debit card. The truth is the choice of providers is very poor after Visa left this market but still cards are excepted everywhere online and offline and you don't need to worry if the merchant accepts Bitcoins and how much time you will need for transaction to be confirmed and accepted.
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You have too much expectations of Bitcoin, the purpose is not the revolution and some kind of war against governments. Besides countries can't function without governments, this would be a chaos and anarchy. I don't say that system couldn't be better but some organisation and system have to exist.
To my opinion too many people are connecting Bitcoin with totaly wrong and sensless ideas giving it a meaning that doesn't have.
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I strongly beleive Bitcoin will reach extremly high price again. But the question is when this will happen, it's hard to predict. And the price is not following our wishes but market rules.
I think that at the moment the situation isn't right for high rise. It looks Bitcoin is still struggling to cross 9000$ and such situation will stay for a while.
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