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I have to admit that I'm not so confident to ensure that Bitcoin will bounce up to December high. I know that many people here say that "just look at the graphs and this happened many times in the past, but eventually Bitcoin rallied". But I just wanna say that what happened in the past doesn't always repeat itself. The history doesn't always happen again.
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I don't think it's the suitable time for him to join the market. Instead, you should advise him to work to make both ends meet before thinking of investing in something. And he can also read and research more to learn experience from others' faults and some strategies. Joining market at this period, to a newbie, is kind of hard and risky.
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I think the easiest thing that we can do is just ignore them. I really find those people conservative and never look anything on the bright side. Being agressive to them is just a waste of time. We shouldn't be aggressive. If we argue with n ignorant one, then you are also ignorant. So be smart and wise. Keep away from them and stick your gun.
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When people start to use Bitcoin more, they can cause the internet congestion and high fee transaction. At the end of 2017, when everyone rush to buy and sell Bitcoin, the fee was up to more than $50, discouraging people from using Bitcoin at that time. This is the biggest downside of Bitcoin.
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Never. Cryptocurrency can't replace banks. There are many functions that banks are cryptocurrency can't have. Banks still very important to global economy. Moreover, governments are behind banks to back up them.
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Governments have many choices other than Bitcoin - a volatile digital asset. They don't like Bitcoin because they don't inderstand about Bitcoin fully. But as far as I can see, not all nations outlaw Bitcoin. A few still allow it.
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If no one knows about their investment, how could we know and give any deduction. And even they invest in Bitcoin, is there anything not okay? Not a big problem. If the government wanna to buy Bitcoin, that would be really a discovery that we need to talk about. I don''t care much whether or not some politicians join Bitcoin community. It's alright.
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Sometimes, news write negative reports analysing the prospect of Bitcoin and discourage investors from dip their toe deeper in the market. Actually, it depends and how reliable the press releasing the news is. The effect of the Bloomberg will be totally different from other small presses.
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When fear and panic happens and people sell irrationally, fundamentals and intrinsic value are thrown out the window. Well, because EMOTIONS always overcomes LOGIC in life, even in the markets. People always fear that THIS IS THE END!!! It will NEVER COME BACK. Also, sometimes it is because people are forced to sell because they have borrowed money to invest or because they need to raise the cash to pay their expenses.
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We can't say in general because each coin has its own good and bad. Among old coins, there are both decent profitable coins and unprofitable coins. Now the bear is growling and every coin, even the best coin - Bitcoin, can hardly maintain its increasing momentum and fall substantially. The problem is not of any coins' own.
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There does be a Bitcoin bubble, but Bitcoin itself is not a bubble, I think. Being a bubble means having no value, Bitcoin isn't this type. Since the growing demand for Bitcoin last year to earn profit, Bitcoin was inflated. It was investors who inflated Bitcoin and made Bitcoin bubble. Despite that I beleive in Bitcoin value because I find that Bitcoin can do much to promote global economy such as stimulate cashless society.
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