Bitcoin started lower than the present price last year then goes on to reach the all-time high of almost $20k last december so it is for the top coin to go down this present level. It is a cycle that every cryptocurrency can't avoid because of volatility. I instead look forward to long term growth because bitcoin has its ability to bounce back after a longer time.

If you believe that the coins you are currently holding had potential for future growth and will go up soon after the bear market, then just keep holding them till the green is back. Strategy and tactics will be useless unless you are well-informed on the coins you are holding including its developer and upcoming developments.

As of this time, the price of the ethereum is now below $300 and still falling after bitcoin slides down below $6000. Ethereum seem to follow the bitcoin price and if this always happen, there is no chance for the ethereum to beat bitcoin someday in value or in market capitalization.

We need more patience for this prolonged bearish market but I believe it will recover during the last quarter of this year. I think 2018 is generally a bearish year if you compare it to last year where price bullruns and all-time highs happened. This year, there might be no new ATHs for bitcoin and the growth might below the $15k price.

It is the duty of every citizen in every country to pay taxes in accordance with their constituion or any other laws that require people to pay their taxes. Several countries like United States and Japan requires its bitcoin holders to pay taxes when they use the coin in their transaction. But here in my country, the bitcoin transactions are still tax-free but the government might already planning to create regulation for the the cryptocurrencies.

Mostly, the whole cryptocurrency market follows the whatever the price of bitcoin. But there are also time when bitcoin is down but the price of many altcoins are up. The movement in the prices of the different cryptocurrencies are unpredictable and always fluctuates rapidly. But most of the time, bitcoin lead other cryptocurrencies in rise and fall of market prices.

Is it possible that forked coin like bitcoin cash overtakes the original coin where it was forked? There are reported plans recently to pump bitcoin cash up to beef up its market capitalization while the original bitcoin is down but it did not materialize. Bitcoin cash also follow the price trend of the bitcoin so overtaking is bound to fail.

Maybe not all red, but mostly red or bearish market and this year, the market growth will not be the same like last year because of the continuing accumulation and other negative factors. But we still may see a short growth that could possibly reach $10k to $15k then down again but that just still a guess from me, not a prediction because no one what will going to happen in the remaining months of 2018.

With its present volatility and rapid fluctuation, many governments might have a hard time to adopt bitcoin as one of their legal currencies unless they find a way on how to deal with its unpredictability. Other countries may develop their own cryptocurrencies instead of adopting bitcoin so there is a less chance of bitcoin to become a global currency. But bitcoin can be a leading currency in a cashless transactions because it is more convenient to use than any other currencies.

I've already read many opinions about bitcoin being outdated if you compare to the innovative features of the newly created cryptocurrencies. A year ago, some bitcoin critics also predict that the top coin will soon replace by another coin with better technology because it is already outdated. But many coins are still struggling to capture the large share of the crypto market where bitcoin still holding the majority shares of the market.

That what I've been doing when I still making some trading but I mostly hold some of the top coins because of continuing bearish market where almost all coins are in red. While the coins are mostly lower, it is also time to buy some solid coins and sell it later when their prices go up. Ethereum, for example, is still going down but I still believe it will go up later this year so it is still worth holding it just like the bitcoin.

If you really have faith in bitcoin and other cryptocurrencies and still believe that they will bouce back at the right time then there is no need for selling them, just continue to hold and patiently wait for them to recover. Cryptocurrencies always follows a cycle of up and down and no matter how long is one cycle, it will eventually change into another cycle.

To make that possible, bitcoin should start its bullrun now until the end of the year. But with the cryptocurrency market still in bearish mood, it is already to reach that kind of price at the end of this year. Bitcoin continues to accumulate and it may have only a mild growth this year if you compare it last year. The $50k price of bitcoin might only possible after several years from now or when the top coin is ready to go up again.

I'd rather diversify instead of selling all my altcoins for bitcoin only. I've been holding my bitcoin and some selected altcoins that has the potential to go up in the coming months. There are some altcoins that can give you sure profits later although most of them are going down because of the bear market and uncertainties.

There is still no possible competition for bitcoin as of this year and it will still rule the world of cryptocurrency for more years. It will take a lot of years before a possible coin will appear to challenge the bitcoin domination. The top coin has been criticized for being an old coin and was destined to die soon and will later replace by another coin that have a modern and innovative technology. But years later, bitcoin is still dominating the cryptocurrency market.   

The price of ethereum at this time continues to go down as a result of bearish market which influenced by the dip of bitcoin price but I believe it will manage to go up soon. Ethereum has a big potential to grow in long term because it is a well-developed coin with very much active developer which continues to find ways to improve further its coin.

Panic selling, aside from several negative factors, is also one of the reason why bitcoin price keep falling. Emotion like panicking during a market downtrend should be controlled to avoid further losses. Cryptocurrency is a known risky investment and we should learn first on risk management before buying any coins. The continuing dips of bitcoin is already many times in the past and it always followed by recovery so it is still normal.

Experience teaches us to become a better trader and losses in trading makes us to become wiser in the future if you learn from it. Trading or investing in the world of unpredictable cryptocurrencies is a risky undertaking and one must educate first on virtual currencies and how they works. I used to hodl my coins when their prices start falling because I believe the dips are temporary and they eventually recovers.

I think not all banks are prohibiting the use of cryptocurrencies because some of them are planning to make their own cryptocurrency in the future. Some banks also welcomes the increasing use of these virtual currencies and they are already studying it for possible use by their clients. Many banks are planning to fully digitize their operations and promotes cashless transaction that uses virtual currency. Other banks are still banning the use of cryptocurrencies because of its decentralized nature but they will eventually accept it if go into full mainstream.

To become a reserve currency of the world, it need an approval of the majority of the countries and global financial institutions and businesses. Bitcoin is not yet majority accepted as one of the legal currencies so it is not possible for the leading cryptocurrency to become a global reserve currency. It is more likely to continue to use as an alternative currency because it is designed that way. The volatile nature of bitcoin will also prevent countries from using it as a reserve currency because it is not a stable form of currency.