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when you look at history and compare the current market with that you should also consider the differences between the two times. for example the size of the 2014 market is nowhere near the size of the market in 2018. and that growth means things such as bear market and accumulation,... basically the transition phases don't have to take as long. not to mention that there were other reasons accompanying the downtime of 2014 which do not exist today.
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no, there is no such thing as either rise to the moon or drop dead when it comes to bitcoin. there is a lot of things in between the two extreme scenarios too. and right now there is a certain trend going on which nobody can change and that trend is an accumulation trend which demands stable price.
now that doesn't mean nothing else can happen. for example the recent drop was a simple manipulation of the price with a lot of FUD and panic because of an altcoin fork!!! but that doesn't mean the trend has suddenly changed for no reason.
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there is no definite answer to this question since it depends on what you are planning on doing with the bitcoin you buy. there is a lot of different things you could do.
for example spending it on stuff in online or offline shops which means there is no bad time to buy bitcoin.
or you may be interested in it as an investment in which case the long term or short term of it would make a difference. for long term investors this is an excellent time to buy more bitcoins since price is not only in a dip but it is below the bottom support price. but for a short term day trader this may not be the best time to buy, since price is still unstable and unpredictable. yesterday was a good time to sell or short and to buy back at the bottom of the dip and then sell after the recovery to make at least 2 times ~9% profit but now the market seems to be calming down and as a day trader you want signals to do something.
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https://qz.com/india/1466311/modi-jokes-about-blockchain-at-singapore-fintech-festival/amp/PM of India (where I live) cracked a joke over blockchain saying, "I have heard of an advice going around in startup circles. To increase your venture capital or VC funding by 10%, tell the investors you run a “platform,” not a regular business. If you want to increase your VC funding by 20%, tell the investors that you are operating in the “fintech space.” But, if you really want the investors to empty their pockets, tell them that you are using 'blockchain.'" Do you think that the start-ups that are using the word "blockchain" just to add more credibility to their crowdfunding campaigns as well as the project, are worth our actual hard-earned money? Many of these start-ups have failed to "disrupt" the mentioned specific categories in their whitepaper(s) and I guess most of these tokens will fall flat (freely) and tied to grounds we can't even imagine, once the investors start to spin out their money off such concepts. I think your PM is just being ignorant and you'll see the realization of this when India is again late to the game with technology and trying to clone a terrible version of the next crypto hub like they do with all the big businesses in Silicon Valley. you can't blame them though. the articles may contain some exaggerations but if you think about it you can see that the term "blockchain technology" has indeed turned into a buzzword that many people use nowadays whenever they want to hype their business up. and to this day I actually don't know of any company that actually implemented the blockchain technology and improved anything! |
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well close bitcointalk and any other social media that you are reading, and sit down and think why you bought bitcoin in first place. then see if that reason still exists or not. if it does then buy and if not then sell and don't buy back again.
the thing is many users around here bought bitcoin to become rich fast and make a lot of profit and wanted bitcoin to continue to shoot up. that reason no longer exists for the time being so you should sell and not buy back for now.
but there is another reason for many others, which is seeing the true potential of the unique decentralized currency that works boarderless and is scarce. that reason still exists and that means the current price is a very cheap price that you can get your hands on a share of this limited supply currency.
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the main point here is simply asking why havn't we seen a huge drop on xlmbtc and xrpbtc ? usually when BTC dips alts dumps against it. but this last dip it was pretty different.
it is because in the charts you have posted here, you have zoomed out of bitcoin chart as much as you could and you are looking at the daily charts while you have zoomed in the altcoin charts and are only looking at the bounce back part of it so you think there was a rise. what happened is that there is a huge FUD going on against bitcoin and there is a huge sell off in bitcoin market which is KEEPING the price down while the altcoins got dumped as bitcoin dropped but since there was nobody "continuing to sell them" the price bounced back a little hence decreasing the over all size of the drop when you calculate it using the current price and price before the drop. |
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there are a lot of different strategies that people are using and for some of them this is not an opportunity. for example if you have been accumulating bitcoin regardless of the price, you will continue buying it no matter what the price is. every price is an opportunity!
but if you are a short term trader then this is the golden opportunity that you can have to buy some cheap bitcoins before the launch to the moon.
and for everyone else $5500 and $6200 are no different. this drop is an unpredictable thing that happened and anybody who is investing long term have already bought above $6k since that is the bottom.
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Do you have a source for the alleged statement that CW made about this?
haven't you checked WC's twitter  he has been spamming his FUD all over the internet including his twitter account. if you look around in these topics someone posted a screenshot of his tweet repeating his lie about being Satoshi and said he will dump his 1 million BTC and crash bitcoin soon. which is FUD that this manipulation was based upon. |
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Well, I dont agree with bitcoin being 1k. It is all these stupid BCH people fightning among themselves.
Let's get this fork done, I'm getting tired of the drama and let's move on. It's kinda weird that last year when bitcoin had fork, the price didn't dump too much but when bch fork the price had gone to its senses. Let's wait what happened next to those fork coins that came up from a fork. I'm betting it will all be shit regardless of how powerful of their team. drama has always been a part and parcel of bitcoin market. some people are even addicted to it since they hang out so much in this market! what we need is a lot more market maturity so that it doesn't react emotionally to the drama. from what I can see we do have some level of market maturity as the reaction this time was pretty small considering... |
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all of it is true but at the end of the day they are all minor reasons when compared to the real reason behind the recent drop which was simply manipulation and panic sells. and it is all about bitcoin cash and the fact that their forkers have tried so hard to associate it with bitcoin for some reason and try convincing people that they are going to sell a lot of bitcoins on the market (1 million to be exact) but as you can see nothing of sorts has happened because it was all lies and the only result that it could have was a fear that caused a small drop below the support line.
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I think Binance is better although I have not been trading for a while now but because of the higher liquidity and also the API options that it offers it makes this exchange better for faster day trading. because you usually want to use some sort of automation (like a trading bot) for it and having a good API is an important matter.
but if that is not the case for you then stick to the biggest exchange according to daily volume and also based on how trusted they are.
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nah, the BCH drama has been more like an excuse to dump bitcoin down a little as an opportunity. sometimes opportunities in a market don't just happen, you have to force them to happen. and as I always say traders always love a good FUD that they can make some money from. think about it, for a couple of weeks price has been stable. everyone was bored out of their minds and couldn't make any profit. then the FUD came and profit flow in the market. wouldn't you just love that  |
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these charts you posted seem strangely familiar last time we had such stability phase and people were getting anxious we had a very similar situation with a lot of FUD and panic sell that pushed the price about 30% below that stable line before it bounced back up again and started the rally. people were panicking and calling bitcoin dead the same way back then too! in a sense nothing has changed.  |
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the panic is somewhat understandable though because this is a drop below the major buy support line and more importantly it is an unnatural drop. which is why everyone is so confused and scared about it specially the newbies in the market. The dumb speculators do not know the difference between BITCOIN <BTC> and BITCOIN CASH , so they see blood on the street and instability, and they start to panic.
they know very well what is going on but the thing is that they love these types of FUD and drops. that is like the bread and butter of a bitcoin speculator! everyone was so bored with bitcoin since the price didn't move at all but now they are happy with this new development. |
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(with the exception of USD coin, TrueUSD and Paxos Standard Token).
these coins are called "stable coins" for a reason! they are supposed to ALWAYS have the same price no matter what is happening in the market. the most famous example is Tether or USDT and as we all know they are not really that stable, they also fall from time to time and worst of all is that they are centralized and risky to use. as for the price drops, this is only because of manipulation and the BitcoinCash crap that is going on these days. and as soon as it is over we will be back to normal with bitcoin price. |
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It seems logical that hashrate will fall if price of bitcoin is as well. Profitability and price goes hand in hand.
first there has to be at least a couple of days from the actual drop before the miners decide to change their mind and shut down their miners so that hashrate drops. and price drop is not even 24 hours yet. it is about 12 hours if I am not mistaken that price dropped! not to mention that if you look at the hashrate chart you can clearly see that there actually was a rise in the past 24 hours!!! |
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Bitcoin hashrate fell by 20%
are you sure? checking the hashrate chart I do not see any new change that indicates a drop worthy of discussion here. there still is the same fluctuations of hashrate which is near the same medium hashrate around 50 EHS. these ups and downs don't mean anything or indicate miner shutting down ... you can see the chart below: https://bitinfocharts.com/comparison/bitcoin-hashrate.html#3m |
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mining will end only if there is a global explosion destroying every computer in sight and taking out the electricity of the whole world. otherwise mining will continue to happen until the end of the world or until a better alternative is found that can replace it. and so far there has been nothing better than the current PoW consensus algorithm used by bitcoin that can satisfy all the needs.
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very hardd to predict. not even with 24/7 monitoring.
that is where bots come in. people always think a bot is just a program that you run to produce you money out of thin air. but in fact a bot is just a tool that does what you can do but without tiring. for example you can always set up watchers to watch price and volume and a lot of other signals on the market so that you can become aware of the pumps. |
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Russia has been going back and forth about bitcoin for ages now. They even threatened people involved on bitcoin with jail time:
to be fair most of the news from Russia has been similar to the news from China. it is always exaggerated in English news media for some reason and the bitcoin news sites always make it even worse by adding fake information to the same news. most of the times it is some low ranking government official who is expressing their opinion about bitcoin and the news sites report it as an official statement or law! |
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