The risk is to lose part of all of your money. However, I have discovered that this can happen also to your FIAT money that you keep in the bank, or making investments which are popular in the mainstream media. So all things considered I prefer the risks inherent with Bitcoin.  |
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You can go to a magician ans ask him - Lol.  However, after years that you spend in cryptos you start to recognize patterns of accumulation, especially in small coins with little volume, so that you can "smell" that a pump is imminent. But as of exactly when it will happen - only the pumpers know. |
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I am marking all my investments on Blockfolio, a great free app which tells me in every moment what I have and how much it is worth. Even though in day like yesterday it can turn out quite traumatizing..
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If you have invested all your savings in October, when you have opened this thread, then you have some a great deal. If you have done it a few days ago, then with the dip of yesterday you might have realized what a dangerous strategy it is, to invest all your savings in cryptos.
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So in trading how do you deal with loss? For example you've invested in an alt and now it has fallen quite hard and you're on the brink of losing all your bitcoin you invested in it.
How do you actually deal with it? Do you wait and keep on waiting in hope that it will bounce back up and return your investment or you sell and get whatever left of your investment?
Yesterday has given a perfect example of what do do. Market has tanked horribly. Those who have panic sold are now desperate today, when the market has bounced. Those who have held, are quite happy today since they didn't sell low. |
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Too dangerous to put all your money into Bitcoin. I didn't However, my BTC holdings have now grown so much in value that almost all of my funds now happen actually to be in Bitcoins. Perhaps I should sell something therefore |
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Yesterday was for sure a very good day to buy not only Bitcoin, but whatever. As for the question if it is good to buy also today, we will discover it only tomorrow |
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I agree that 2018 will be a turning point for Bitcoin - either it will tank into a bear market or it will explode to the upside with tons of new people joining the party. We'll discover that soon.
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It is an already well established fact that Bitcoin is not very anonymous, as soon as someone makes a serious investigation. The news has recently emerged that the US is tracking all transactions and possibly (my suggestion) building already a database of who is who among the holder.
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Europe, Japan, Canada, Isreal, Korea, US, Singapore are some major countries where bitcoin has legal status. There are many other countries like India, Rusia those are preparing a draft for bitcoin legalization.
Really? Legal status? I don't recall that... Perhaps they just avoid stating that they are illegal, that's a different thing. They just did not take any special action regarding Bitcoin. I would not call that "friendly". |
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The fact that someone did not use his Bitcoins for many years is still not a proof that he may not use them in the future. Owners of those addresses may not be just individuals, but also organizations, which have different plans and behaviors than individuals.
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Usually news are used by speculators just as a pretext for pushing the price up or down and make a profit. BTW I would not put Bitcoin and Bitconnect in the same discussion - they are two completely different things.
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Yes, media speak about Bitcoin and by now also old people watching TV have heard about it. But adoprion is still quite low - growing fast, but still low in absolute terms.
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You really know nothing of the history of Bitcoin , do you? Once upon a time after that Bitcoin had reached 60$, it went back to 2$. I guess that was a real crash, not the little dip of yesterday |
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Technically speaking this could just be a rebound. We will see in the next days if the uptrend has resumed. Volume has to rise to confirm it.
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I am glad to see so many optimists in this thread, but technical analysts are not so optimist. BTC could dip further. Let's hope the worse is over.
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As far as I know Bitcoin has no magic powers yet, so it is very unlikely that it has any chances to make banks disappear. You'd better ask David Copperfield for that |
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It is not that Bitcoin is or is not gambling, the fact is that people are treating the whole world of cryptos like a giant gambling casino - this is the bitter truth.
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I really hope for you that you didn't sell you house to buy BTC. You see, after the day of today now BTC is half of the value of all time high, so if you had sold at ATH now you would have just half of your money - and no house. Which means you could re-buy only half of your house.
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You lose money only when you sell. This is the first lesson to learn. If you have sold and the price has gone up again, then there is little you can do to recover the loss. If you never sell, you hold until you are REALLY HAPPY to sell, then you gain and become happy.
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