I am at a level 10 optimistic for the year 2018. There have been times like these before in Bitcoin but it has already proven itself many times. For sure, the almost 50% drop we are witnessing today will generate more bad news which I think will just make bitcoin more popular. Positive thinking is one of the key to survive this volatile world of crypto.
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The government puts taxes on everything. That is just how the world economy goes, they're supposed to use the money they earned from you to improve the nation, but of course, it's not always a fairy tale.
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A scam price doesn't mean it can be be there again because the people behind who push this to that sky price has already cashed out or even big short already.
It is possible that the big whales have already cashed out and are currently spending their profits taking grand vacation, but they will be back to buy at a lower price which could make the price rise up again. It is a never ending loop of ups and downs in this volatile world of crypto.
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Bitcoin really is unpredictable but it really has proven itself with its value hitting $10k before, So, I think this correction is what we really need to wash off those who have weak hands. This massive sell-off is across the globe but I see this as an opportunity to buy BTC at a discounted price. It is now wise to be Fearful when others are greedy and greedy when others are fearful.
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It is good to hear that you are not spreading negativity around and did not sell your cryptocurrencies just because of FUD. What matters most in the end is that you made profit and did not let greed take over. Most of us here will probably take this opportunity to buy BTC and alts at a discounted price as we're currently witnessing a massive bloodbath. Happy Holidays everyone!
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No one can say for now which is better than which. In my opinion, Bitcoin has made its trademark and became a brand in cryptocurrency world and I think there are newbies who doesn't even know the term "cryptocurrency" and the true purpose behind bitcoin.
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There is a possibility that the holidays affect the price of bitcoin, it happened on the day before the thanksgiving as well. Probably, some of the big investors are taking a grand vacation elsewhere so it's possible that they have cashed out for their expenses, and we may see a bloodbath because of massive selling and FUDs all over, therefore, panic selling occurs. For me, this is called a Holiday Sale of BTC and alts, so, I will grab the opportunity to accumulate more.
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Of course they are cashing out, it's probably because they have earned enough profit, most small time investors might also be cashing out because they need the money for their expenses this coming holiday. It does not mean that Bitcoin will be dead and gone because there will be more investors coming in and grabbing the opportunity to buy at a discounted price. More posts like this will keep coming in every time bitcoin's price goes down, which I find as an opportunity to accumulate more btc for long term.
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Well, if your goal/target price is today's bitcoin price or if you have already gained enough profit, it's not that bad to cash out. Too much greed will only take you nowhere. If you are for long term investment, then it is a good time to buy or hold your btc. Always remember - Buy Low, Sell High.
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I personally think that the contribution of bitcoin to World Economy by year 2028 will be greatly influential and widely accepted across the globe. It could become like the Internet wherein everyone is using right now. Bitcoin and its technology is the future of money and it has the potential to boost the world economy by mass adaptation.
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I would suggest to have The Big Three in your portfolio and that is Bitcoin, Litecoin and Ethereum which is all good for long term investment. Also, try researching about POS coins which generates compound interest by staking your coins/tokens although it is a very high risk investment.
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In my opinion, it's just a price drop and I see it as a Christmas Season Discount Sale for 3-5 days, so, do not miss the chance to buy and accumulate more of BTC. Although there are many flaws in early stages of BTC development, many investors are waiting for the price to dip just like what happened today and in the past.
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Bitcoin's price went down because of bitcoin dot com's move. He sold all his BTC and bought Bitcoin Cash. There are also those who took profit, probably for Christmas Shopping and other expenses for the upcoming Holiday Season. FUDs are all over the social media currently, spreading negativities about BTC, but Bitcoin is anti-fragile and will be unstoppable for the coming year 2018.
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Here in our country, there is a growth in popularity of bitcoin. Yesterday, while traveling to work, the taxi driver was checking his bitcoin while stuck in the traffic. Though, many of my officemates still think that bitcoin is some kind of MLM or pyramiding kind of investment. On the other hand, the central bank thinks bitcoin is good for remittance for those who are working abroad sending money to their loved ones.
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The blockchain technology is truly a remarkable innovation in this century. There are some banking systems and businesses that have adapted this technology even though it's still in its early stages of development, and, there will be more in the next 50 years.
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It is not entirely impossible to reach the price of $30k by end of 2017. Anything could happen because new investors keep coming in recognizing the value at any price level upon reaching another new all time high. It is a remarkable year indeed for bitcoin and I hope to see another bull run for the year 2018.
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It is because of the doomsayers saying this and that, spreading FUD and negativities all over. Who knows, they are doing it for the sake of buying when the price falls down but always, the opposite happens although there are some dips but not too deep like going back to 4 figures. The cycle will always repeat itself in the history of bitcoin.
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In my opinion, the publicity of bitcoin, regardless even if it is negative or positive, is still a publicity. Every single day more and more people are being aware of bitcoin. It's all over the news and social media now and I think that there will be more to come. Popularity and mass adaptation are both key factors why Bitcoin's price is soaring to the moon.
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Surely it is an uncertain time for bitcoin but it is only temporary and the market needed this. The weak hands will go panic selling and it could drive the price down but certainly, bitcoin have been through this and it's just another Monday for bitcoin. Those who have sold when the price is down will learn from their mistakes upon seeing bitcoin's price rising after the fall.
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It's funny to think that people are still thinking of bitcoin's rise as a bubble about to burst once it reaches a new milestone or a new all time high. Surely, once it reached $20k, $25k, $40k, $100k there will be more FUDs and posts like this one. Why don't we just appreciate this revolution even though it has many flaws in the process due to it's technological development? At some point, at any price, there will be new set of investors coming wherein they will also learn from their own mistakes like everyone of us, and know the amazing purpose and value of bitcoin eventually.
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