I can use bitcoin to buy some staff online. Central bank in my country issued statement that bitcoin is not currency or financial asset. So, it seems still long way to go
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Tko je slijedeći?
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Dobio si merit
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The main reason, in my opinion, is market manipulation. Big ''players'' manipulate crypto market with rumors and bad news in order to scare small investors to sell, so that they can buy cheaper and get bigger profit. We have many very young and inexperienced investors so this strategy is very successful, as we can see. It's very difficult to say when we will see change in trend. I think until the end of this year.
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I think that btc sell now people who lost faith in btc or people who have no choice. It's obvious that smart investors, who are here long term, will not sell btc now. The best strategy is to wait but of course not everybody can follow such strategy.
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Tko je slijedeći?
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Dobio si merit
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It's very difficult even to predict what may happen tomorrow, or in a week or month So, I really believe that more and more people will become interesting in the bitcoin and crypto in the future. I also believe that many merchants will accept bitcoin so we will eventually enter mainstream. Just, in my opinion, bitcoin will not be accepted as official currency because of luck of legal protection and control. It will remain as alternative currency.
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Price manipulation is done by using many ways.Publishing speculative news in favour of boosting bullish trend is a way.Here on the below link,we could see that news sites continuously release news that bitcoin price is to boom.If we see such moves,we should be cautious about investing otherwise we may get fooled and we might have to regret for our wrong investment.Don't let news media to decide your fortune. https://www.reddit.com/r/Bitcoin/comments/9dimq2/headlines_two_days_ago_this_is_how_market/Thank you for good advice. In fact, manipulation is very often in media, politics, economy, everything etc. Since many very young, inexperienced users invest in the different markets, crypto, Forex, stock markets etc. money they can't afford to loose, they are usually very emotional and afraid to loose. So, it's very easy o influence such investors and manipulate.
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If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
In my opinion, bitcoin will never become official currency in any market. It's very simple really, since there is no bank or government behind bitcoin, no control or legal protection, bitcoin will remain alternative currency. Also, no way that crypto will become official global, world currency. I really believe that some countries will follow Venezuela example and start own, state crypto currency. It's to early to predict future with such currencies.
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Tko je slijedeći?
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Dobio si merit
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No, bitcoin is not bubble. Bitcoin is new, revolutionary project and great investment opportunity. Don't judge bitcoin based on the current performance but based on idea and future potential.
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Tko je slijedeći?
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Procjenio sam, dobio si merit
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Any investment is risk but if someone have enough money to spend, it's not foolish to risk and try to get bigger and faster profit. Only if you invest money you can't afford to loose, such action is foolish.
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It's nothing strange or unusual really. Such things happen in any kind of market, stock market, Forex, crypto market etc. There are many manipulations in markets by ''big players''. With rumors and bad news they can influence average, small players to sell funds quickly in fear to loose a lot money. To many emotions are involved in the market, unfortunately.
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Tko je slijedeći!
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Možeš Merit poslan!
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Dobila si merit
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