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Ripple will eventually recover. I don't think of ripple as a long term investment, because being centralized is a huge dealbreaker for me, but in the short run, there is quite some money to be made off of ripple. I had bought low, back when the price was $0.42, and have sold some at about $3.2, and I'm waiting for the price to go back up again.
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Perhaps not the answer you were looking for, but after this recent crash, I have stopped paying attention to charts and patterns and predictions. Just the other day I saw the "vomiting camel pattern" and I was like, what? What even is that? We are getting carried away with all these charts and analyses that we fail to concentrate on crypto itself.
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As you are not aware of the new regulations imposed in the Korean market you came up with this thread ,the new regulation demands that you have to be a citizen in order to trade in the exchanges from Korea and they have found over six hundred million dollars worth of foreign investment in their exchanges and if you notice that the market went down drastically because of that move and i am not sure how they are going to take action for those investments. Korea is really insisting on keeping these things on a national level, don't they? I remember reading that they had a similar system in place with online video games, where you can't play them unless you enter your social security number or something. Really interesting to me that they would leave foreign investment out for the sake of keeping exchanges domestic. |
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BTC development in the recent weeks:
$20.000 - bitcointalk users: yeah it will go up to $100.000 - invest now
$19.000 - bitcointalk users: oh a small drop, no worries, invest now
$18.000 - bitcointalk users: oh it's going up very soon
$17.000 - bitcointalk users: no problem, christmas and new year and you know
$16.000 - bitcointalk users: you know, high transaction fees and so on, will go up again
$15.000 - bitcointalk users: I don't know why but I feel it will go up soon
$14.000 - bitcointalk users: I don't know why but I feel it will go up soon
$13.000 - bitcointalk users: It's january, chinese people doing some stuff, but it will go up again
$12.000 - bitcointalk users: chinese people doing stuff
$13.000 - bitcointalk users: see! told you, going up again, will reach new high very soon! $100.000!
$12.000 - bitcointalk users: oh, just a random drop
$11.000 - bitcointalk users: ...
$10.000 - bitcointalk users: drop will definetly stop at $9000, because analysts said so.. invest now
$9.000 - bitcointalk users: that was predictable, so invest now, will go up from now on
$8.000 - bitcointalk users: the reason is the negative media coverage, but it will recover soon
$7.000 - bitcointalk users: will recover soon, hold your coins, will rocket in spring
Thank you. There is obviously a problem with the market if the only thing you can do is to rationalize drops after they occur, and not have any tools with which you can predict such drops. We are like leaves floating in the wind, no idea where we are going and why. In such circumstances, it is simply impossible to make sensible predictions, like a lot of people are tying and failing at. |
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You'll break even in a few weeks, this is my guess. Crypto markets have a really high volatiliy and this means that they do swing hard, both up and down. Just look at the history in the first months of the last few years. They do recover hard.
A few weeks is too short. Bitcoin and cryptocurrencies have been experiencing blow after blow this past month, and even if the FUD clears, I think it will take some time for the prices to recover. Otherwise we would be left with a sudden increase like at the end of 2017, which was obviously unhealthy. |
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Cryptocurrency-related advertisements have stopped appearing on Chinese search engine Baidu and social media platform Weibo, amidst reports of China’s government tightening cryptocurrency and Initial Coin Offering regulations on Sunday, Feb. 4.
The Financial Times of the People’s Bank of China (PBOC) was told today, Feb. 4, that China will further increase regulatory pressure on cryptocurrency exchange sites and Initial Coin Offerings (ICOs), Chinese news site Sina reported.
Seems cryptocurrency will not recover so much in a short time...
not a good move by the Chinese government for their country now the market will be shook because of this move the governments can't control this currency that is why they ban it They are not banning it, they are just increasing regulations. Which I think is not a huge problem, because unless regulated, scammy ICOs run amok, as we have all seen. Asking ICOs to comply with some ground rules is not a problem in my opinion. |
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Last time, BTC price took more than 3 years to return to its peak. How many years will it take, if ever, for BTC to return to $20,000?  I think the current situation is different. What we saw in late November/ early December was a massive influx of new people who had read all the news reports of bitcoin surging in value, and wanted in. This I believe was the main cause of the huge price rise. All big rises tend to be followed by a fall, and what happened was that as soon as the price dropped, these people had lost money and a lot of them panicked, and sold to cut their losses, which triggered further sells, and then experienced traders jumped in to short their coins, exacerbating the drop. And this was pattern was repeated in more extreme fashion in the altcoins rising almost vertically and then dropping just as quickly in Jan/early Feb. This is all due to the fact that crypto is gaining mainstream attention, which is why we also have governments jumping in to have their say every couple of days. This government/media FUD is in my opinion a symptom of the price swings, not the cause. So I think the current situation is unprecedented - it is the first pains of interaction between crypto and the mainstream. Crypto will grow, mainstream adoption will come, but there will no doubt be more drama along the way. Of course I may be wrong (I have limited experience and have not yet been here a year), but I believe that $20k will arrive sooner than people think. The overall trend is still upwards, and this will continue through 2018. I agree with the main points in your write up, but what makes me wonder is the fact that the price still hasn't stabilized, although the people who had come on board towards the end of last year just because they thought bitcoin was free magic internet money have already cut their losses and dumped their bitcoins. I understand that there is considerable FUD right now because a lot of governments are not giving a clear indication in terms of how they will approach cryptocurrencies, but I'm thinking that most of the people who jumped on the band wagon have jumped off, and their coins have been picked up by relatively experienced people (i.e. people willing to hodl) so I would have thought that the price would have started to slowly stabilize by this point. |
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If bitcoin was a fiat currency, the increase in people using the currency would be met with an increased supply of money, meaning the price of one unit of currency would decrease. But since the supply of bitcoin is limited, even if the whole world used it (actually specifically if the whole world used it) the price would most definitely skyrocket.
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This will never happen, at least not in the world we live in right now. A country willingly letting go of its own currency means you are leaving your fiscal policy in the hands of another country; which, based on our current experience, is obviously impossible.
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I've been saying the system is flawed for a long time. These complaints will increase as time goes on because there is no incentive for merit sources to hand out merit. They gain nothing from it. Unless merit is tied into the user experience of a forum user (like how most upvoted posts appear at the top in every thread on reddit) the merit system is never going to take off. It is very obvious, really.
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I strongly agree from now that I will exchange my currency to bitcoin due to its increasing selling value and no loss caused by bitcoin
Keeping your bitcoins in your wallet is the best thing that you could do since the bitcoin's price is having a hard time this past weeks, I know its been tough also for us to watch this kind of situation happening to bitcoin, our expectation is that bitcoin's price would reach up to $40,000 this year but it seems like that would take some time before it could happen. My blockfolio right now is so bloody red, even my altcoins have been affected by the bitcoin's huge price drop, don't know when it will recover. The blockfolio part has been the most difficult aspect of this drop for me as well. Seeing all your coins are red, and not being able to do anything, because everything is going down, it was and still is nerve wracking. Hopefully we will leave those days behind us and the price will begin to increase once again. |
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In my opinion, it depends on the price level we will have towards the Chinese New Year. After the Chinese New Year, I think investments will start to pick back up and we will start to see more stability in the market. Afterwards, hopefully, the price will slowly start to increase once again.
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Hello...Friends
Today most of the Altcoin goes Down. So what's the benefit for me Hold or Quit out from the Crypto market?
I would suggest to just hold because quitting doesn't give you any benefit and remember that quitters never win. Market now is stabilizing and bitcoin is up by 9% therefore alts will do the same, yet, the dip is already over How can you say this for sure? After every dip, people have been saying that the prices are stabilizing, or that they have already corrected themselves, only to see the price fall further down. So just because the price is up 9% now doesn't mean that it will continue to increase. Let's wait and see a couple of days. |
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These rumors have been going on for too long now, even if TRX is not a scam, these rumors are hurting the reputation of the coin, and preventing it from reaching its true price. I hope these allegations are addressed soon by Justin, so that we can now once and for all what the situation is.
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People keep referring to a trend, but I don't see any trend here, because a trend has to be somewhat predictable and persist over a relatively long period of time. But right now there is no trend. The price is falling for whatever reason, and there is no way to predict or "read into" the trend, because I think a trend does not exist.
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Do the people in these pump & dump groups have enough buying power? Unless we're talking about very minor coins with a 24h trading volume of about $40-50K; how can they influence any other bigger coins even the slightest bit? It doesn't make much sense to me.
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I think the prices will continue until we hit rock bottom, which I think is soon. If bitcoin falls even further, it may trigger a chain reaction which may cause crashes in altcoin markets as well, which I think everyone will try to avoid. So hopefully the price will start going back up soon.
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I'm all for it. Even as a crypto fan, the crypto ads annoy me all the time. They are poorly written, make no effort to describe the product, and contribute to make the image of cryptocurrencies worse. Until this improves, I agree with the ban.
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No one can predict what's going to happen next. We will have scammy projects until people realize that not any ICO equals magic internet money, so that they start to learn how they should look for good projects. Until that awareness comes, we will have people getting scammed out of their money.
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Is this system creating an incentive for users to give merits to other users? Even if it does, I think this is the problem that encompasses all other problems.
In an ideal world established members "should" give merits to newbies who are making high quality posts, but is there any incentive other than goodwill? Are they penalized if they don't give merits? No, because this would be ridiculous and impossible to implement. Do they have a direct impact on their experience in the forum as a user (similar to how reddit actively rearranges posts based on upvotes)? A no to that as well.
In my opinion, if we can't address that, we will never get the merit system running as it was intended.
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