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I have been getting antsy about about the massive prolonged price increase and haven't resisted selling some of my coins.
I did it at more than $4000, so I guess in the short term it was a good decision, but I still hold a good amount, so I still hope the price rises from here.
I don't want the price to fall back to the norm, and me to have had a bit paper (blockchain) profit, without actually getting any real life advantage out of it.
I do still believe in Bitcoin, though I do have doubts sometimes, it is slow and has been very expensive to use for a while now. I want a cryptocurrency, not crpytogold.
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They always find a way to keep trading. Last time it was tokens instead of cash.
I imagine that this time it will be a Hong Kong exchange, or a government allowed exchange.
The reason for the dips are usually short lived, we just have to see how the long effects hang around.
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$600 swing in 3 hours? Bitcoin be crazy.
$3000 looked bad, I even said I would buy if it went much lower, at $3500 or so I am just holding still.
I won't ask if there is any reason for the 20% rise. The old 'because, go fuck yourself, that's why' meme is usually about right for explaining Bitcoin price swings!
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If Chinese exchanges are closing at the end of the month, you can expect lower prices until then at least.
There is the looming 2x part of Segwit2x coming up in November. Everyone signed up to Segwit2x, but now that they have Segwit, they don't seem to be so keen on the 2x bit anymore (even though Segwit hasn't really increased the blockchain capacity much at all).
So that means there will either be a 2nd hard fork, or no hard fork but a big disagreement about people signing up to the New York agreement, but not carrying through with it.
It could be a rocky ride in the next months. I would expect a bounce after the Chinese exchanges close, and everyone realises that it isn't a very big deal, but I think $5000 won't be reached as that was a bridge too far anyway.
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Yes, bitcoin is dropping and more investors are coming to make a fresh start to buy it.
Sorry to burst your bubble but is the other way around. The price is dropping because the just like in every market the rules of demand and offer are supreme, there are less people buying than ones selling.So no, there are no investors flocking over, everybody is expecting to see a real movement be it upwards or downwards before taking a decision. And traditionally, people rush to buy coins not in the dips but when price spikes. This does not mean that a lot of people don't want to buy, it just means they are waiting to get a better price. A lot of people dream to buy $3000 BTC so they are waiting for that price. That is the strong resistance now. The problem with noobs is the fact that they don't know it's too risky to wait for a perfect price. We know with %100 certainty that BTC will go back to $5000+, but we don't know if it will even touch $3000, so noobs should hurry up and buy. People are dreaming of buying at $3000? In the last 6 months the price has been as low as $888! The last time the price was well below $3000 was August (it's the middle of September now). Wake up people! It might go back up, it might go back to levels last seen a huge few months ago. |
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i want it to be 7000$ and more but maybe it grew too fast this year?
why you think like that?
Do you have any solid basis for sustaining your thinking?
Because it more than tripled in price this year from an already all time high price? bitcoin will increase in price because it has a lot of potential
When does the price match the potential? It had potential at $300, now it is at $3800. It still has potential. What about at $38000? Or should it just go up because you want it to go up? but even at 2k it woulndt be that bad.
for me $ 2000 will not be good
It'd be a massive profit for me. IF the price does fall back below $2k, it'll be a shame, but I won't feel bad for the shills who are pumping the price constantly because they bought high due to greed. |
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As long as we believe in bitcoin, current price is the best for buying bitcoin. Because, if we already have bitcoin it's easier for us to make money by utilizing bitcoin. And profit that can be achieved isn't disappointing.
And bitcoin is stable here in the range of $4k for quiet a long time so there is not a chance that it is gonna go lower than that, so it is wise to buy bitcoin right now before it reaches $5k once again. Sound advice yesterday. I think people should read this post several times before buying or selling. Make your own decisions, don't believe what idiots on the internet post, they are just making shit up and passing it off as informed facts. so again bitcoin is stable here in the range of $4k for quiet a long time so there is not a chance that it is gonna go lower than that you can read plenty of kwukduck quotes for poor predictions in the other direction, but make you own decisions! |
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We should thank all the idiots for the cheap coins. They give Bitcoin free publicity in the media < Bloomberg > and we get more expose to the general public. This is JP Morgan's track record : http://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase When these people make desperate statements like this, you know they are up to something. Everyone should applaud him for his actions, because people already hate institutions like this and they just opened up old wounds. https://www.reddit.com/r/Bitcoin/comments/6zpzdp/my_memory_is_failing_was_it_bitcoin_or_was_it_jp/ Bring it on, we just love all the free publicity, even if it is negative. This gets people talking about the things that started all this. Satoshi did not introduce this technology because it was just another fun project. It was perfectly timed after the near collapse of the world economy. < Then the government jumped in and bailed out these companies with tax payers money. > We will NEVER forget this. Thank you Jamie for reminding us. ^smile^ I know that the timing coincided well, but I don't buy that someone making a negative comment about Bitcoin has caused a 9% drop! People speak out against Bitcoin almost every day, I think it is just chance that Jamie Whatshisface spoke out, then the price fell. That's not to say that the price will recover, but it probably will. |
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The volatility is a joke. It makes Bitcoin look like a sh!tcoin that is constantly pumped and dumped by whales.
10% moves in a day are standard, that cannot be if Bitcoin actually wants to be used seriously.
I thought that by now, with such a high market cap, that the volatility would be greatly reduced, but if anything it is worse than ever!
I look at the price, it is $4400, I look back 10 mins later, it is $4050! What has happened I think, oh nothing, it's just Bitcoin. When the 10% moves become 1% moves, I'll be happy.
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We are down on the month now, that hasn't happened for a while.
I think we will see a double top in the next couple of weeks, before a more sustained fall back to a more normal level
I don't know what normal is anymore, but if someone had offered $1500 a year ago, I'd have been very happy!
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What is going on with the price differences between exchanges?
There are hundreds of dollars difference between Kraken and Bitfinex/Bitstamp.
Is there any good reason, or just different methods of buying? They are usually pretty close to each other.
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It's very interesting and a great call in January!
Do you see any reason why the market should mirror what happened in 2013 but in slow motion?
I'll keep an eye out in 45 days, if we hit $5k for the first time, or are almost back to the ATH, then I will sell!
If the market falls back to $1000 or so, I hope that doesn't happen in slow motion too. A 5 year fall/stagnation could kill Bitcoin.
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I think that if China banning scams causes them to fall by 50%, then the prices were far too high!
Bitcoin needs to try to become legitimate, scams, pyramids, thefts etc all need to be cracked down on.
Then someone might look at the very heavy market manipulation that happens every day. That would be nice!
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I think $5k might have been a bridge too far.
The price kicked up quickly, almost reached the big milestone on most exchanges, but fell short. We are 15% down since then, I think it could have been a turning point. Whether that is the turning point of the week, month or year is yet to been seen, but I think $5k will be a tough cookie to crack in the near future.
Can't complain though, we are still up about 300% this year!
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Worthe remembering that Gold and Silver are real things that won't go as crazy as Bitcoin. If you want to buy and get profit, you won't see 25% moves in a week, like with Bitcoin. You can see that as a positive or a negative depending! We are $550 down in about 2 days, that is a big old move. We are almost back down to last weeks levels now! |
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the difference is very simple actually:
nothing about bitcoin's supply has changed so far. but the demand for bitcoin has increased substantially. this is clearly noticeable by the increase in volume, how packed the orderbooks are and the fact that awareness about bitcoin has grown a lot. not to mention all the increase in merchant adoption.
this simply means a big real rise not a fake bubble.
also, rises like this are not at all strange or unheard of. there are a lot of things in the world, specially stocks market, that had the same rises. big and fast. it doesn't have to be a "tulip bubble" just because it went up fast!
I only somewhat agree with you. It is true that bitcoin's supply has stayed relatively the same, and the supply can't be brought up just by someone printing more bitcoins because that's just not possible. It is also true that the rise of bitcoin is probably a lot less crazy than the rise of tulips back when the bubble happened, but bitcoin is still a bubble. Every bubble is going to crash, sooner or later. It's just that the magnitude of the bubble isn't as great as the tulip mania. Why do you think bitcoin is a bubble? Where are the signs it is a bubble? If you're talking long term the idea of it being in a bubble now is laughable when there are only on the order of 10 million people with bitcoin. About 1 out of every 1000 people on earth have some bitcoin. In a few years that'll be more like 1 out of 10. And some years after that maybe 1 our of 5. When the price of bitcoin is 100x more than it is now then MAYBE we can talk about it being in a bubble. until then its just absurd. You realise that at the end of 2013 there were fewer people who owned Bitcoin than now. The price was about 25% of what it is now. Guess what, it was in a massive bubble! That bubble popped and the price fell fairly consistently for 18 months or so. That doesn't mean that the price will never rise again, but we could be sat with the price at $1000 in 2 months time, looking at this massive popped bubble and wishing we had sold at the top. Or the price could be higher, who knows, you can't see a bubble until it pops, but your arguement against it is meaningless. 1 month ago the price was $2500. That is an increase of $60 a day on average. That is a massive rise. |
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In the past many years, gold has not been a stellar performer and some are even calling gold earnings as flat and bland, so to speak. This year, it can now be told that gold seems to be lacking the necessary shine and luster. As investors are looking for other ways to get the most return of their money, many are shifting to cryptocurrencies...away from the traditional gold and the conventional stocks.
Added to this situation is the fact that some monetary policies espoused by many governments further shave the remaining trust some people on centralized financial system. This is making Bitcoin and other cryptos taking the role as the new safe haven...a title long held by the physical gold.
Right now, there is an "exodus" away from gold and stocks and the line is now on the doorsteps of Bitcoin. The thing is that Bitcoin is now the safe haven and at the same time this haven is also the heaven when it comes to earnings or ROI.
Thus, we now have Bitcoin as the new safe haven and the heaven of many returns! What a great twist of things...but this is not anymore surprising.
I can't imagine an exodus from Gold, holders aren't going to the local gold dealer, getting cash, depositing cash into their account, then buying 0.25 Bitcoin per ounce sold, or if they are they are lunatics! Gold is a good holder of value, I personally would rather be moving some of my now very expensive Bitcoin into gold in case this is a bubble that is going to pop. Fungibility or lack thereof, means that people generally hold gold, rather than trade, or at least with physical gold anyway. I think people might be investing less new money into gold, so that they can buy Bitcoin, but that isn't an exodus. |
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Miners should be focusing on mining subsidiary - a reward for mined blocks. Don't forget that this is the main source of income for them.
Transaction fees shouldn't be a primary concern for miners anyway.
Additionally, according to bitcoinfees.21.co:
"The fastest and cheapest transaction fee is currently 390 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 88,140 satoshis."
The recommended fee on that website is often very high. You can look at the information yourself and decide how quickly you need your transaction to be confirmed, then choose the fee. My blockchain app had 20 sats for normal and 285 sats for priority yesterday. I used 30 as that would get me ahead of the big bar and my transaction was confirmed within an hour. 200 sats or more is way too much. I'd like to see sub 10, but I can live with sub 30. |
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It's funny if you read a little bit older information about Bitcoin. It was going to help the poor bay allowing them to live without needing a bank.
It was going to be the solution to online micropayments and tipping. People wanted to use bitcoin for everything from Amazon to eBay to buying a pizza.
Now a couple of years later, those dreams are at least on hold. Who is buying a $10 pizza and paying $13.50 for it with fees? Micropayments just aren't feasible, tipping too.
The same people who would have been saying that Bitcoin is a great idea for the avove mentioned reasons, now will tell you that you don't need bitcoin for all that nonsense, Bitcoin is digital gold and meant to be stored...
I hope segwit and the lightning network stuff works and gets fees back down to very low levels, digital gold isn't what Bitcoin is meant to be in my opinion, it opens up the market to a coin that can be used as a currency.
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Oops I closed Bitcoinity for an hour or so, missed the All Time High!
Those words are starting to become meaningless now though, I mean it was more worrying that the price had stagnated for almost 10 days or so!
A few days ago I looked at the chart and it was flat for the last 24h, I had to show my girlfriend, it was crazy, far rarer than a 5% increase or 15% crash!
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