Just like in the previous years, cryptocurrency market will have its time for recovery and bullrun. This year might more bearjsh than last year and growth would be limited unlike in the past. The possible approval of bitcoin ETF will not even ensure a market uptrend unless there is a wide support for it.
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Newbies should research first on the coin they are going to avoid future mistakes. They are also the ones who easily get panicked when the price of the coins they holding go down continuously. They should also learn how virtual coins works and this include the names of coins so they won't be confused on buying the right coin.
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If you had already years of experience as a bounty hunters in this forum and accumulated enough earnings then it is possible to invest in an ICO you like. Some bounty hunters had acquired a lot knowedge about ICOs by researching them before joining the bounty campaign so they are more knowledgeable than the usual ICO investors.
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Everytime bitcoin suffers a price downtrend, there is always somebody sentencing it death and this already occurred many times in the past. Time passed, bitcoin is still in the crypto market, alive and kicking and still on top. Only time can tell when will a cryptocurrency like bitcoin become a history but as long as there are still believers on it, it will continue to live.
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Ethereum price goes back above $300 after several weeks since its price start falling but it is still cheaper and affordable to those who want to invest. The second ranked cryptocurrency might experience some dips again if bitcoin price keep going down so it is better to monitor the market to keep you up to date if you are planning to buy more coins.
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I'll still go for long term even if the market continuous to be bearish for many months because I believe there is a right time for recovery and all these falling prices are still temporary. There is a price cycle that cryptocurrencies can't avoid because of their volatlie nature and sensitivity to any developments that involved or related to blockchains and the virtual coins.
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Bitcoin is known to be a volatile currency, price changes quickly every minute and it is easily affected by outside developments related to cryptocurrency or blockchain. It may give boost to economy if its price go up and reaches all-time highs. But government must also prepare for possible worst effect if bitcoin crashes down, it will surely the financial market and the economy.
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Currently the dominance of bitcoin is more than 50% according to coinmarketcap and it will still possible to go up more if majority of the altcoins are still down. The dominace of bitcoin tend to decrease if the price of the altcoins go up but it still hold the majority of market shares. The ETF might also increase further the hold of bitcoin once it is approved.
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One strategy that works best in times of fall in the market is to remain calm, and not allow yourself to be blown by panic. Just hold the tokens with large caps and even if possible, buy more tokens and hold. For some coins like Bitcoin and Ethereum, it is always certain that whenever there is a fall, there is definitely going to be a rise.
What will you do when the market falls?
That what I've been doing since I start buying cryptocurrencies. The crypto market is unpredictable, anytime the prices of the coins you are holding will fall and this always cause a panic to investors particularly the newbies. This kind of negative emotion, if left uncontrolled, will lead to panic selling and loss of investment. I also use to hold my coins when the crypto market goes into bearish mood instead of selling it.
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It still depend on the government or monetary authorities if they like the idea of decentralized cryptocurrency replacing centralized fiat in the future. The majority of the people in this present generation may not welcome yet this kind of currency because they are still used to fiat. Maybe in the next generation when all system are digitalized and people are already well-verse in internet, cashless society will eventually take over.
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If your country doesn't prohibit its citizens to acquire and use bitcoin in transaction it then you can able to sell or convert it to cash regardless of legal or not. Here in my country, a lot of people have already uses bitcoin as their alternative currency but the government is yet to legalize it. The central bank recently approved the use of bitcoin in remittance and I already tried many times.
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Some people are still hoping that will still go up to $1000 before the year ends but with its present price, it would be impossible to reach that target within tge remaining months of the year. But if there a sudden surge in the price of ethereum and it continues till the month of this year, then there is a possibilities that eth may reach the $1k. Ethereum growth is slow and there is still no sign of bullrun in the coming days.
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I just wanted to know what are your plans on your cryptocurrency in the future?
Do you plan to keep on investing? Do you plan to exchange your crypto in fiat and leave crypto? Will crypto survive?
I'll be staying and planning to invest more in the future. Leaving cryptocorrencies is not in my mind because I believe that virtual coins can survive many challenges it may encounter in the years to come. But I also believe that some cryptos will not stay long in the market and might delisted eventually from the exchanges.
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Many people that lacks knowlege of bitcoin and the cryptocurrencies will easily believe that the coin is used by some individuals to scam people. The news about bitcoin will also have a significant impact on how people think about bitcoin. This misinformations they get from media and other unclear source will lead them to believe that bitcoin is scam abd eventually scare them away from investing.
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I've been using ethereum for long term investment because I believe it has a big potential for higher growth in the future. I'm also planning to use ethereum for possible ICO investment in the coming months when the bearish market is over. Ethereum price is presently going down and already reached below $300 due to some negative factors in the market but this dip is only temporary.
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That will depend on what kind of regulation the government is imposing. Every country have their own kind of laws or regulations for the use of crypto currencies, some regulations are created to protect its citizen from crypto scams and other illegal use of cryptocurrencies. Some countries imposed strict regulations against the cryptocurrencies by limiting the use of them by their own people. Stricter regulation for the coins can be bad because you can only buy some limited and allowed coins.
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Critics of bitcoin and cryptocurrencies have been spreading their predictions about the possible doom or demise of the virtual coins in the near future. These FUDs will only cause the price of the cryptocurrencies to go down but not their disappearances because a lot of investors continues to support them and demands for the coins are constantly increasing.
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If the price of the bitcoin go up in the 4th quarter of this year, it will not be like the 4th quarter of last year where a solid bullrun happened. History will not repeat itself this year because bitcoin is mostly bearish for the last seven months and another all time high may not be possible unless the big time price manipulators changes their minds.
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Quitters never wins so I'll continue to buy, trade and hold cryptocurrencies even if their prices are going down because I believe that the coins will bounce back again. Losing money in the trading is a part of learning experience and it teaches you the right way to trade and on how to discipline yourself. Quitting is not the right way to gain more knowledge and experience.
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It will depend on how widespread is the usage of bitcoin. If the majority of the people and businesses uses bitcoin then it may create an impact on the country's economy. But government and the financial sector have to create some effective ways on how to deal with bitcoin's volatility first to protect the economy from its rapid price fluctuation.
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