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In my opinion, it really depends on the crypto knowledge and financial literacy of the investor. If you don't know anything about the other coins claiming to be the next bitcoin, try to learn about them first before putting eggs in them. Personally, I don't have much time to learn about the other coins that are proliferating like mushrooms, so, I stick to BTC and ETH mostly.
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We will never know for sure if Christmas bonus of common employees will be the catalyst for crypto bull run. But, if it happens, then it's a new era of parabolic rise for BTC and other top coins. For my own bonus, I will definitely take advantage of this huge discount on almost all coins out there. They could be worth a fortune in the nearest future.
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The price action is somehow affected by the news. Also, the people's emotions affect the price action. We don't even know if there really are manipulators which controls the market. Whatever is happening, we must anticipate the next move for us to be able to follow the price action to be effective in trading.
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Network congestion is the most probable cause of increased transaction fee nowadays. During the hype, people have FOMO some time in November to December 2017, the transaction fees were insanely high due to many people are trying to buy. Now, people are selling most of their BTC holdings due to fear of BTC price going further down below $1500.
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This is going to be interesting. A price level of $1500 per BTC is possible due to the seemingly impossible strong support of $6k that was broken a few days ago. Nevertheless, I would still continue to be disciplined and patient to stick to my cost averaging method for long term investment with my crypto holdings because I still believe with the innovation it brings.
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By the looks of the situation in the market, it may seem like all hope is gone for another bull run same as 2017's last quarter performance. I personally have thought that during this time in November to December, the bull run will start. But, I am wrong with my previous thoughts. This continuous downfall does not mean that it will stay forever at the bottom. For me, this is a very attractive price level to buy more of the top coins which I couldn't afford before.
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I would choose both options, crypto currency and physical business. I will integrate crypto currency to the physical business as an alternative payment option online. But, if I would only be able to choose one, I would go for crypto currencies because most of the time, I am in front of a computer and online most of the time. I'll learn trading and different strategies on how I can make profit short term and would be satisfied to a 10-20% daily profit thru crypto investments.
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Bit coin is a Ponzi scheme. Don't listen to the bit coin shills on here. The newcomers buying into bit coin and driving up the price are just making the early adopters richer.
That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.
The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.
Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?
If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.
And how do you expect people would believe you? Aren't you one of the suckers who were born after BTC became popular online? You are looking at the negative side of how people utilize BTC, but did you even try to look at the bigger picture on how it can help economic growth during the digital age? It is true that BTC is hurting right now due to its price being dragged down, but if you look at the other markets like stocks, everyone is affected. This is a game of survival of the fittest. |
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Wow. This is the time to buy more than what I am capable of. I have allocated funds monthly thru cost averaging method, and I think this is a really great time to seize this buying opportunity. My crypto investment is for retirement, so I don't need fiat from it yet. I will only sell if there's an emergency or when I have reached the target price I've set.
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Nothing's new with this post. Bitcoin collapse has been predicted many times before. There are also too many times that bitcoin was declared dead. As for me, I think this golden opportunity to purchase more BTC than before is going to be a benefit in the long run. We'll see next year if it skyrockets. If not, then let it be - more time to collect more funds.
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We are lucky to have realized this as early as today. The majority of the people doesn't fully understand yet the true purpose of bitcoin and why does it exist. Time will surely come when those people who have feared something they can't understand, they will realize that they missed another opportunity.
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QTUM has a good chart movement so far. They could achieve success if they continue to be aggressive in promoting their projects through social media, forums, bounties, etc.
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Another bull run will start again once this downfall ends. This will not stay forever at the bottom but, I guess this is not yet the end of it. More will follow and disappointments will continue. I'm looking forward to early 2019. Bullrun could start with some altcoins first before the big ones like BTC.
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They may co-exist with each other and people will have more options to choose from whether they utilize the traditional ones or opted for a more convenient way of transacting financially. It all comes down to user acceptance and trust. So far, for BTC, it may seem that the trust is fading. But, let us not lose hope. Better days will surely come.
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Everybody can be early adopters. The true early adopters are those who have bought and kept their BTC at a very cheap price. Is $5k-6k range of BTC price cheap for you? If you would consider the future value, it does not exist yet and nobody knows what it brings. All we can do is buy it, keep it, forget about it for the longest time, wait for the shocking news when BTC hits the mainstream news.
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Most people think that Q4 2018 would be the turning point for the bloodbath to end. The opposite is happening, as the bloodbath continues and more people are suffering from the loss in their portfolio. If you have a short term goal with your holdings, this is not a good time to sell. If you are for long term investment, better stack up on those coins which was expensive some few months ago.
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The economic function of Bitcoin is the technology behind it whether the public will adapt and accept the innovation then utilize it for goods and services, and merchants to accept is as another option for mode of payment. I do not believe that what's happening is some kind of deflation. It actually showed its true value which was predicted at last year's price by end of 2017. Give it time to recover, slowly but surely.
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Whatever doesn't come down any further must be going up within the remaining one month and 2 weeks of the year. If not this year, anytime next year is a possible reversal. Do not expect too much though as the public does not seem too attracted with the way thing are going on now. I may be wrong, but it is still better to look at the two sides of the coin. I'm still hoping though for the prices of most my crypto assets to skyrocket.
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The bitcoin's price movement was calm like a bomb, until the recent drop that happened in just a matter of hours. It may seem that there are no logical reasons behind it, but it is safe to assume that whales started to make a move expecting for the public to buy at an attractive price level of $5.5k, but nobody bites the dust. we may witness another downfall within the next few weeks to prove that BTC has a strong support.
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This is another window of opportunity to bag more of the top coins and hold it for as long as the reversal happens. It will not always be troughs in the market, peaks will someday arrive just like what happened during December last year. It may not happen within this year or the next, but it will someday. Just keep on collecting coins and use the strategy of buy low, sell high.
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