There does seem a big volume of Bitcoin changing hands today compared to the last couple of weeks.
well based on this, you are someone who either makes random guesses or doesn't know how to gather information properly! not that it matters but today and yesterday was two days with biggest volume after a long time! as for your question you better stay away for the time being since another one of these misinformation and you will be panic selling at a big loss.
|
|
|
at this point since the market is a bear market and price is not showing any signs of a proper recovery buying should only be if you want to day trade or if you don't mind the possible near future bottom and want to hold long term.
in case of day trading there is a lot of good opportunities to make at least 5% and up to 10% profit per day but at a higher risk that is associated with day trading.
|
|
|
bitcoin does have real demand and the rise of it last year was not all manipulation. on the other hand the drop is mostly manipulation now. you say you have been around but it seems like you have missed all the news while you were around. the news of mass adoption in Japan and thousands of merchants that started accepting bitcoin as payment, news of BitPay (which is basically the amount of money changing hands between customers and merchants) processing over $1B annually in bitcoin! and the news of mainstream adoption of bitcoin in US and lots more. what are these? fake news or fake demand in your mind???
as for other coins they can not have real demand until they start having real usages and not just copy pasting each other.
|
|
|
i wish that some day we can be rid of simple minded people like OP who buy some small amount of bitcoin and then constantly spam about it each time its price makes a movement with weird statements out of his ass like "most feared investment"! that day we can have a much healthier market with smaller whales because these whales can no longer milk people like OP.
|
|
|
don't buy bitcoin, go buy more ETH.
if you buy lets say 10BTC you get 10BTC out of 21 million bitcoin that is always going to be fixed and not a single coin more. so i can not get that 10BTC ==> my loss. but if you buy ETH, lets say 10 of it you are buying 10 out of infinite number of ETH, no matter if you buy 10, 100000, or ... there will always be more of it to buy ==> nobody cares LOL
|
|
|
would you mind explaining how is it "harsh and anti-crypto" tax laws when Australia considers cryptocurrencies as an asset and wants capital gain taxes on them but i have never heard anyone complaining when same laws apply to bitcoin in a lot of other countries like US for example where IRS have been doing the same ever since 2014?
|
|
|
"crack down on cryptocurrencies" and meanwhile PBoC is creating "their own cryptocurrency"! can they be more obvious than this? they are trying to force their centralized altcoin on their people! What do you think about this report ??
i find it very interesting and i would love to see how that turns out. in fact i am sure a lot of others (i mean the government of different countries) are as curious as i am about this and want to see what happens! my guess is that it will gain some traction but it won't even come close to bitcoin and probably most of the altcoins because of a simple fact: it is centralized to PBoC and you can't fight bitcoin!
|
|
|
the problem with the term "bubble" and bitcoin has always been one thing, in my opinion. people think bitcoin is only a bubble if it has gone up above some arbitrary price that they have in mind. for some this may be $1000 even and for others it may be $10k. and then they expect a bubble burst to be catastrophic and they say for example if price started dropping from $20k it should fall down to $1k so that they are satisfied there is no more bubble!
the reality is very different though! bubbles happen, in fact we already had a lot of bitcoin bubbles and at least 4 or 5 huge ones and each time they burst and market corrects itself while a bunch of people are screaming weird low numbers! $20k was a bubble, so was $1200 of 2013, and so was $200 before that, and even $1 at some point. in fact the roller coaster thing is basically this rise and fall when bitcoin enters its bubbles, then they burst and we have a huge drop because of panic (not only because of bubble) and then we start rising back up again.
so i think saying "bitcoin is not a bubble" is as wrong as saying "bitcoin is a bubble". at times we have bubbles and they don't last long and just because price is dropping it doesn't mean we are still in a bubble!
|
|
|
i think OP has a typo! he meant to say "Bogeyman" or maybe the auto-correct changed it to "Gox whale". and the word "on exchanges" was probably "in the closet" instead.
|
|
|
it is impossible to tell. the bottom may be the current price or it may be a lot lower than this but one thing is for sure, and that is the fact that it was proven that no amount of technical analysis can ever work on bitcoin otherwise it wouldn't have fallen this low in first place since everything was pointing in other direction not so long ago and also other times they have been predicting a lot lower than bitcoin ever got!
|
|
|
Twitter’s announcement has coincided with another Bitcoin price drop, though this one has been pretty minor in comparison.
that is a very good choice of words and it is appropriate for this situation since price drop and the news was just a coincidence and nothing else. i mean all these FUDs are helping the drop but they are not the main cause of it. The digital token is worth $7950 (~£5625) at the time of publication.
and you messed it up here since you used a wrong term! bitcoin is a "crypto currency" not a "digital token". What is next after Bitcoin? I want to invest in another currency. Reply Fast....
as we have been seeing for as long as this market existed, when bitcoin drops altcoins drop too. so if you want to invest in anything other than bitcoin your options are the traditional assets such as gold and NEVER altcoins!
|
|
|
just like a rally where price doesn't constantly rise, during a downtrend price does not constantly drop either. there are times when the trend is reversed and that lasts for a short time. it is the "corrections" that the market has to correct a fast trend.
one of these times however, price will drop too big and reaches a very low bottom and then reverse upwards and never come back again. that is the "bottom" where you have to buy in. it is a little hard to predict it though.
|
|
|
1. the existence of a big bubble in bitcoin (ie $20k) and needing a burst. 2. lots of FUD that have been coming out non stop 3. lots of rich whales who have made a huge amount of money because of the bubble and they now want the price to drop so that they can buy even more bitcoin with all that money so they are manipulating the price. 4. lots of newbie weak hands who have been filled with fear and have been selling their bitcoin like crazy. 5. the altcoin dumps that forces people to sell their shitcoins to bitcoin then sell bitcoin to go back to fiat and that causes a bigger drop
|
|
|
just because price is going down and you didn't expect it, that doesn't mean it will continue going down forever and reach zero. the same way that when it is rising and again you didn't expect that, it doesn't mean it will reach $1 trillion! Because for me I think 5 to 10 years from now this will happen simply because of the appearance of other alternative coins.
first of all just because there is an "alternative" it doesn't mean bitcoin should go to zero secondly as long as bitcoin is a good option it will stay up and continue going up and so far altcoins are mainly shitcoins rather than alternatives.
|
|
|
it is perfectly understandable as the market has been very unstable and extremely unpredictable for the most part of the last couple of months. most traders tend to stay away at times like this which may as well be the reason for the volume drop and also the fact that the buy support is not as strong as it should be.
additionally when a flush comes (like back in January and start of the dump) a lot of newbies will get out of the market after they lost some money and did a panic sell.
|
|
|
i keep seeing topics asking "why is it going down" "when will it reach $$$",... and everyone is panicking about when the "moon" is going to be!
well if you are not a trader then why are you even asking these questions? just buy and hold. come back in long term and enjoy the big profit.
if you are a trader then asking these silly questions won't help you. if you see price is not recovering and falling then just adjust your strategy to match the new trend. and i am not just talking about now. this happens each time the trend changes! market is not always going to stay the same, it has ups and downs and sideways and ... for each of these trends you need a specific strategy. you can't just apply one thing to all of them.
|
|
|
1. Seek information or signal to the next bitcoin price movement 2. Join groups or communities of crypto merchants, or 3. Confident and reinforce the belief that bitcoin prices will recover.
1 and 2 are basically the same thing! and the information out there as "signals" come from groups and they are ALL complete nonsense and most of them are pump groups trying to fool some newbies and take their money for themselves. so stay away from 1 and 2 3 is kind of a weird statement in my opinion! the thing about bitcoin in my opinion is that you either see the potential in it or you don't. if you see it then it all comes down to your strategy. not everyone is a trader so they may not be willing to take advantage of every price movement up or down. but if you are a trader then holding is meaningless you must sell in a bear market and buy in the dips to sell on recoveries or if you want, short bitcoin in a bear market which is what we have now.
|
|
|
@TheQuin had an excellent point which i also came to say. it is always about the risk of an investment. and that is why the lower risk investments have lower profit. for example when you put your money in a bank it has one of the lowest risks of all and because of that the reward is always smallest. this is actually a good way to diversify your assets. for example if you have $10000 and want to invest it, you invest it in all the things in OP like gold, bitcoin, bank,... and distribute your $10k based on the risk/reward that you want to have. If I deposited the money into a fixed savings account at say %10 p/a <very high for some countries> combined interest = 160% over 16years. <without compound interest> Feel free to make the compound interest comparisons.
i love excel =-FV(10%/12,16*12,0,10000)
investing $10k in a bank with 10% annual profit for 16 years will give you $49.2k after 16 years.
|
|
|
this looks more like an attempt to advertise Gunbot rather than educate people, you are just using the disguise of teaching newbies to get them to buy this bot.
in fact from my experience anybody who is not familiar with trading, with this market and doesn't have at least a year of trading experience should stay away from any kind of bot because when they don't understand the market and don't have the necessary experience, the bot doesn't help them at all.
|
|
|
when you are thinking about some imaginary scenario it also has to be a possible one not an impossible one that can never happen under any circumstance. for example you could have said "what if the circulating supply dropped low due to ..." because it can never drop to zero and there will always be some coins in circulation being traded by people.
|
|
|
|