No reason for panic selling at all. Bitcoin price was corrected a bit but I find that quite normal and nothing to worry about. I think that only unexperienced users and traders started to sell yesterday and today under bad influence. Thre is no use of selling on every sign of price correction, where would that end. And I don't expect further biger fall, the price could stay a while around 4000$.
10 percent up or down, in bitcoin that is average business. As long as the long term trend stays intact there is absolutely nothing to worry about. For traders of course, these smaller ups and downs bring a big potential because they earn from every movement the price makes. That's why some of them spread the news about this movements a bit more dramatic than it is necessary. |
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The problem that keeps me from bigger investments is that I know too few about bitcoin.
I know that the price went up during the last year.
But why exactly? How many people are using bitcoin right now? How many new join each month? Are there big bitcoin holders and who are they?
When I invest in stocks, i can get a lot of basic information about the company I invest in.
With bitcoin that is not so easy.
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Looks like you can predict the price just by watching Google trends.
This is just a chicken and an egg problem. And it's clear that Bitcoin's price comes first, and than the google searches follow, and not the other way around. Bitcoin's price didn't increase because more people suddenly started googling "Bitcoin". You can't predict Bitcoin's price by watching Google trends, the market changes much faster than people's interest in Bitcoin. That is exactly what I was thinking as well. The google trend gives you an overview of the situation at the moment. I don't see how this leads to the prediction of a future developement. The trend and the price seem to do the same thing at the same time. None is really ahead of the other. |
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,why not? maybe its not only me thinking that bitcoin can be a good investment for a long term purpose. for me i am making bitcoin as an investment for long term, because i don't know what may even happen for the next years and i see such a great potential in bitcoin which also convince me to put some amount as my savings and leave it for a moment, who knows maybe someday it would be helpful asset.
Bitcoin is already a helpful asset for most of the investors because it already gave them profits to enjoy by just believing in bitcoin and investing for long term also, if you are just starting in bitcoin then do not be afraid to put some money in it because if you are really into long term then i can say that you are in a safe investment vehicle. To me it's a part of my assets that I hold till I can retire. It's not the biggest area of my investments, and I do not think it will ever be. I think its important to diversify. There are investments that have proven to keep their value over a long time. And there are others who promise a big profit. Bitcoin is one of those to me. But if it actually can keep that promise over a long time, nobody knows. That's why my engagement with bitcoin is solid, but not exaggerated |
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Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such. Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.
I will utterly agree with you in this regard. The reasons you have enumerated are absolutely valid and logical. All states have their own reasons for not supporting bitcoins. Mostly the states that do not want to lose their control over their public, they are against bitcoins. Moreover the states fear bitcoins as currency of crimes. They are afraid of its decentralized nature. This topic is vast. Talking about some particular state would be better and easy. I think that the measures taken by the governments strongly depend on what experiences they have made with crypto currencies. If avoiding taxes and laundering money really is a problem in a society, then it is not surprising if the state does everything in its power to make it difficult for people to deal with bitcoin when its widely used for that purpose. After all it's the job of a government to keep a society together. |
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There are alwyas those who simply need the money to pay some bills.
And then there is another group of people who see small decreases in price, get panic and sell.
The second mistake is usually made when you are new to bitcoin.
But with some time you get used to the changes and you get the ability to sit the decreses out.
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The high fees are the problems for ATMs.
I know of one machine in my area, and that got closed because nobody used it.
Paying five, sometimes even ten percent more than you would pay if you bought your coins somewhere on the internet, that is something many people drives away.
So to me it is at least questionable if the ATM service will be able to survive.
Besides: Bitcoin Cash is a new crypto currency.
I do not think machines for them will ever be built.
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To me, I would be glad if the price could stay above 4K.
18K sounds great, but let's not hang your hops too high.
We would need some serious cash flow into bitcoin to complete that goal.
And I doubt that there are enough people out there willing to invest, especially when rumors of a possible bubble occure.
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There are withdrawl fees from exchanges.
Those sometimes really seem to be high. But usually your transaction is processed within the next block.
And then there are transaction fees from one wallet to another. Often you can set them as low or high as you want.
But then, if you choose a lower fee, the time until it's processed in a block will be longer.
All together this sounds fair to me.
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Many posts discuss the possibility of exchange earnings with selling Bitcoin (and buy later). Other posts discuss the Bitcoin exchange rate, it seems that many agree there is a strong upward tendency and the volatility is hard to predict. It seems dat selling Bitcoin results in a serious probability of an opportunity loss. Selling Bitcoin can only be motivated by an (partial) exit. Do you agree?
Well, I do not think that selling Bitcoin is a hundred percent opportunity loss. Why, in the first place, did that someone sold his/her Bitcoin? To gain the profit right? And by gaining the profit would mean that he/she is harvesting the fruits of the opportunity he/she grabbed certain time ago. So I believe that it is not an opportunity loss, but rather a point of touching the profit you earned. Yeah, if you say selling your Bitcoin before the price of it increasing up, it just is a regret unreasonable, because the price you decision for sell your Bitcoin is your hope, your target and you feeling satisfied with this price. It seems funny now. Bitcoin price being dumping down today, value again falling down. This doesn't have sign to see the bitcoin price up. Anytime selling bitcoin is not opinion. If you hold the bitcoin for some months then bitcoin will touch to 5000$. Of course there is some profit in trading bitcoin against fiat or other crypto currencies. But you have to know what you are doing. There is always the chance you actually sell at a low and have to buy back at a higher point. And then there is the thing with the taxes that makes everything more complicated. At least if you want to play it by the book. I have decided to simply keep my coins. That gives me less headache. |
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I am not so sure if the number of retailers accepting bitcoin will increase in the near future.
Right now most people are just sitting on their coins and not spending them.
Accepting bitcoins is something that causes aditional costs for a retailer.
When not enough people use that payment method to cover the costs, it makes no sense from an economical point of view.
And I can imagine that right now this might be the case.
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I think that I have the same dream many people around here have.
I want to have the bitcoin as an addition when I retire.
Actually that could be one of the reasons for the recent price increase:
Many people buy the coins now and bet on a big price increase in the next decades.
These people (like me) do not touch the bought coins, because at the moment they do not need them.
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Bitcoin brings you more profit right now, even if you just sit on your bitcoins.
But you must be careful because you are in charge of your wallet all alone.
When you buy stacks, you are registered as the owner of those stocks.
The only way to lose your money completely is when the firm you invested in goes belly up.
There are many ways to lose bitcoins, the price does not have to fall for that.
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There is no way to say how long bitcoin will keep growing.
I think it has to do something with convincing new people to join the bitcoin community.
But nobody can tell you how many people of the world are already dealing with bitcoin, or how high the growth rates of new members are.
When you look around here you will often see the assumption bitcoin will increase now at least for a few years.
But then again, you have to keep in mind that we are on a bitcoin board. People write often what they wish to come true.
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I do not think any country will ever do that.
A government needs to be in controle of its currency.
Or at least bind it to a major currency that is managed through the market situations.
Giving the financial faith of your country completely out of your hands, that would not be a wise decision.
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I think at the moment we have a trend upwards.
When you study the charts you see that there are smaller setbacks every week, and one that's a little bigger about every month.
I think those are the really perfect times for buying.
With a little patience you will find a good time to buy bitcoin.
For example right now, we have one of those setbacks that is a little bigger.
So I would say, now is the perfect time to buy.
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That price can't be foreseen on 2018. Why? It is more than that 5000$ in 2018.
The price 3500$ can happen this coming days and still increasing as the year nearly ends.
It does this day. 24hour high in bitstamp was exactly $3500 no more, no less, without any cents. How come that it doesn't even have a cents with the growing demand? Was it coincedent? or there is actually manipulating the price? It's slipped down below $3500 just now. I expect there will be some profit taking before it makes it's next leg up. Some exchanges already hit $3,500 though, what i'm curious next is the price of bitcoin will continue increase, going down or stable on this price. I hope the price can stable for the next week and if it increase i'm happy with that too. Actually the bitcoin cash price also increasing too today. Bitcoin price crossed 3500$ already, now we are expecting price of one bitcoin in 2018 is 5k$. And I am pretty sure that price will go up and reach that milestone. You are really right that the price of bitcoin already crossed 3500$ before the year of 2018, and now its price is 4128$ and and this price is very good for us and we all are very happy to see the price of bitcoin 4128$ in the month of August,so this price is now surprise for us. So yes, in the year of 2018 we all are expect that its price will be 5000$. Maybe we can discuss this question now looking from the opposite side: Will bitcoin fall back to 3500 in 2018? I think that bitcoin will at least be stabel around the 4K level for the coming months or even stay on it's path of growing. From that impression I do not think that we will see the level of 3500 dollars again in 2018. |
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I do not think that cryptocurrencies have that potential.
Right now we have a bitcoin high. Mainly because people consider it as a form of investment.
But a currency usually is no investment. You invest your currency. Or buy the things you need with it.
Bitcoins original intention was exactly that, to be a form of payment.
But it developed in another direction.
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Yeah the external factors are always there to impact the bitcoin. I have also observed these changes about the bitcoin whenever big events has happened. The most important and everyone experienced was segwit2x hard fork. Before one of hard fork everyone dumped the bitcoin like crazy and the price dropped almost to 1800 USD. Now see, after the segwit was locked in on 8th aug the price of bitcoin started increasing like crazy. Its at 4000 USD. So the journey of 1800 USD to 4000 USD was like within one and thats more than miracle. Thats why bitcoin is unstoppable.
I think its not a miracle but more on people speculating what the price of bitcoin could be next after the hard fork. And since Segwit has locked-in already and waiting to be implement in 1 weeks, investors are anticipating that the price of bitcoin could increase, that is why we see a surge in price like you mentioned. Speculation is what drives the price of bitcoin to increase and not just a miracle or something from above magically turns it out to peaked at $4000. Sure it is speculation, but I think this time it's the speculation of many people. Before, bitcoin was only known to a small group of people. I think that made the ups and downs faster and more drastic. Now we reach a level where bitcoin is widely known and we have an infrastructure that makes it easy for everyone to get bitcoins. But a crowd reacts slower than just a few individuals. That's why I suppose the speculation will go on for a while. |
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I have already paid a similar sum at exchanges.
But I think that is something we have to live with at the moment.
Maybe segwit will change that.
I suppose a normal transaction will be cheaper then. The fees for withdrawl at exchanges, I would be surprised if they go down.
But's that is something that concernes mainly the traders.
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