In these days it is not that much possible because it is near 3600USD just because of one person that he has told that bitcoin is fraud because of him many people stop investing in bitcoin but i believe bitcoin will reach top 5000USD soon.
You are keeping short term in mind. You should think about the long term gains too. It's possible that beyond just China many other countries will adopt bitcoin and use it as currency. Plus, the more that blockchain technology is being used, the more we see rises in the bitcoin prices. Long term, we can never tell what will happen. |
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I read that the dump is due to a chinese exchange closing it's doors.
The FUD spread is that the government is stopping Bitcoin again.
We have seen this before.... Chinese sell... weak hands sell.... price dumps .... recovery comes eventually .... Bitcoin lives to see another ATH
You're right, and I think a lot of people are so concerned with the drops because they came in when Bitcoin was at a high. They maybe purchased at 4,000 and so to them, seeing a 25% drop in their investment in hours is very scary. For the long term holders, there is more experience with this type of situation. |
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It's all politics. They're a communist country, people buying bitcoins and getting filthy rich doesn't fit that model.
That's my view on it anyway or perhaps it's because the government can't manipulate it.
I definitely agree with you. The Chinese Government is trying to make the most out of their residents as they can. Since Bitcoin avoids taxes and fees charged from the Govt, it is seen as a threat to their desire to grow richer and stronger. |
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Should I stop buying BTC for above market value or should I start paying the listed price? I support Bitcoin and still pay 5k a BTC does anyone see bitcoin going back up?
For now yes you can stop buying it because market is reacting in a negative way after the Exchange in China have started to shutdown. This would be a signal that other countries may soon follow it and thus the prices are going to slash in a big way in coming time. I actually don't think a lot of countries will follow China's footsteps. China is pretty isolated from the world in terms of markets -- I think their goal is to be the number one nation in terms of wealth and power. They want to keep people trading within their country and they want tax money. Bitcoin avoids this for the most part which is why I think China is cracking down so heavily on crypto. |
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Provided bitcoin continues to decline should we sell at $2500 or just forget about what we have invested in the crypto and let it all go to Hell? What number would you sell at?
If you're keeping the option of selling in mind and you bought at a high price, sell now. There will be a period where Bitcoin is fluctuating around a lower value than it was before and it might even drop further. Beyond that, I personally believe people will be trying to hop on the chain by buying low, so this could potentially push the price higher in the long (ish) run. |
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I think it's possible to face another 24 weeks like this and it's making me nervous. But what we can do beside to hold? I hope to be like OP is saying - go up in 24 hours, but I don't believe it. I mean, technically you could sell if you wanted to. Always realize that technically you haven't made any hard cash until you cash out of Bitcoin. But I'd say hold for a little longer. The drops may be followed by people trying to jump onto the train. |
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I don't know Why but i Just want to make same ATH guess like last time Rules ....: the one with the right date of ATH gets .25 btc paid directly (UTC time) I look to Every page in here from now When a date is picked first iT cannot been taken again ( 1st =1st) Another .25 btc is rewarded for ho makes best of technical analyse of the time When we strike ATH.... and Why iT happens at that time..... So This .25 also only to been payed 1 time .... and not 2 times te same explanation.... (1st =1st) Both answers to win must been inside before 20-09-2017 Goodluck to the ones that like This  My guess : the time it will take for the Chinese citizens to find out how to circumvent the government meddling. And since they are very creative in that, (the only creativity they have), I would say pretty fast. So my guess : october 15.  New all time high comes in on October 7th in my opinion. Gives Bitcoin enough time to have people gather more Bitcoin from the dip and push the price higher. Maybe this drop will last longer though, who knows... |
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What percent of people do you think are able to resist selling their BTC when confronted with huge profits they've obtained. Say 500% or more even?
500% on bitcoins profits then I assume you are one of those people who bought bitcoin on the range of 800-900 usd price wayback before.If im on that state it would really hard to resist to sell your coins because you did see the profits you do gain.This would really depend on your self control and motives on hodling bitcoin.Either if you would decide to hold even more for more profits or secure as of now on the money you gained. I'm in this boat. I bought when BTC was around 300. It is very hard to resist selling my coins but for some reason I feel like BTC will go back up. I don't think it's safe for me to stay in BTC but my gut is telling me to do so. I guess I'll be waiting and watching the trends for the next few days. |
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50 Trillion dollar market cap within a year? It's a wishful thinking. Too much too soon. It will probably grow but not to 50 Trillion.
Agreed. 50 trillion is way too far. It's impossible to make everyone a millionaire out of thin air. I could understand the BTC TV networks though, there may be some to keep up with crypto markets as more people are investing in them, but even then that's a longshot for the next 1 year. |
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Are you guys even listening to yourself? There is no "BTC ban". Dear god, please let it rain some brain.
I must agree with you mate, this is now becoming chaos to everybody whose closely engaged to bitcoin. Can we just let those speculation let go and we should move on with the visions we wanted for bitcoin? well it sounds funny but lately bitcoin price dropped at worse due to paranoid holders. We're already nearing to reach our goals but sadly frustrations prevails. I mean, even though there may not be a "ban" yet, it certainly seems like the market is being attacked as if it was a ban and so are multiple exchanges. We just saw BTCC make their big announcement which dropped BTC by 20$. Even though it may not be a ban it definitely is having those effects on the coin. |
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Doubling money in quick time is never easy and also involves a risk of loosing money but if you have good skills, strategy and good knowledge then you can double your money over a period of time with trading and that is the most reliable way to double your money.
This applies to if we're talking about now. Imagine someone who hopped on the Bitcoin train because they saw it going uphill for a while. If they bought when it was close to 1000, they would have quadrupled their money without much of a risk since the coin had an upward trend. I think Bitcoin is all about smart investment, and we may see more people putting in buy orders trying to get onto the train since the price is a little low right now. |
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Everyone says "hold, buy as it won't be as cheap as it is now" but once China officially announce that crypto exchanges are banned (in few weeks IMO) then it's price will be $1000 or less. Better sell it now.
I think there is some validity in your statement, but to counter it, take a look at what the Bitcoin price has been doing for the past couple of hours. It's been fluttering around 3,800-3,900. If it was going on a downward plunge, I'd expect the price to have fallen to at least 3,500 by now. |
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Almost all major and miner businesses are accepting bitcoin as a payment nowadays and whichever accept bitcoin,have also included other coins as the payment option.
No need to have a list of these businesses,just select pay and you would see your preferred pay option.
I disagree with the first statement. A majority of major businesses are not accepting Bitcoin yet. I will consider Bitcoin feasible as a currency when I can sustain myself by using Bitcoin to purchase all of my daily needs. Currently most grocery stores themselves don't take Bitcoin anyway, so I think it's not feasible as of now. |
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That post was written when BTC was down by more than 60% from USD 1180,-. Right now we're down by maybe 25%.
In the bear market as a whole, the value dropped from $1180 to below $200. $1180 to $200 is a reduction of roughly 83%, so you would be losing more than four fifths of your coins' value if you held throughout that period. In some BTC bear markets it's been even worse. The trick is putting your coins (the ones that you're not using regularly) in cold storage somewhere that it would take a while to access them, so it takes a lot of thought to dump them and it's not subject to short-term emotions from price movements. If you have enough savings that you can still live comfortably if you lose all the coins, HODLing shouldn't be too difficult. Good lord that drop. I wasn't into bitcoin or cryptocurrencies in general at those times, but looking at those charts right now.. if I remember correctly bitcoin stayed at around the $200 mark for around a year or so? If I was a beginner at that time I would have probably said "fuck it" and sold at $200 because I would probably think it wouldn't rise back up, knowing it has stayed in that price range for so long. I also agree on your second statement, holding bitcoin somewhere less accessible. But damn that's definitely easier said than done. I was also around when bitcoin was at 200-300 for like a good year. I was actually thinking about cashing out, but I kept seeing the fluctuations and thought I might as well HODL for the hell of it. My holdings just exploded, and I genuinely have no regrets with holding. Even though it's dropping now, I'm still in a profit. |
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Currently worth $70 Bn, Is this a lot?
Personally it seems quite a lot for a fairly untested currency.
US gold reserves currently worth something like $300Bn, the largest in the world (though it's no clear if anyones checked its there). All this is less than a company like Google but still $70Bn is a lot of money.
For the bitcoin price to rise a lot of money would have to flow in. Right now it seems like every grandma and her dog is being persuaded onto the bitcoin bandwagon. Is this not a sign of an impending crash, in which those at the bottom of the pyramid get burned? Is the bitcoin rise sustainable? Where will the money be flowing in from? Will shops have to start selling bitcoin investment scratch cards over the counter to keep the price rising?
I'm keen to head from people who can make arguments based on fundamental economic principles, either way.
Chinese ban, Chinese manipulation. Dangerous restrictions, these are all preventing bitcoin to reach higher market caps for sure. But technically, there is not mathematical limit on bitcoin's cap. I think as with anything, you can have two outcomes. Growth or crash. With the Chinese news, you see a bit of a drop. You can consider this our "crash." Since there is a fair amount of backing as can be seen in OP's example of every grandma and her dog (made me laugh), there is a potential for growth as there is a general interest from those who are trying to hop onto the Bitcoin chain. |
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I never put any of my own money into bitcoin, so technically I am always in profit. However, just going off the past week I've "lost" about 400$ worth of USD from market fluctuations. It's really not much of an issue for me, I'm positive Bitcoin will rebound after people realize that China banning it is not the end of the world. I don't think it'll be able to reach 5000$ again very quickly, but it will definitely stabilize soon.
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I have observed that signature campaign are not forthcoming as users make applications and re-applications. Few campaigns reward very minimal. Is it anything about China's ban?
What's your view?
It's possible that from your perspective as a newbie on this forum that you see very few opportunities for yourself. However, there are a large amount of sig campaigns, but keep in mind that there is an even larger number of members on the forum. Not everyone can be added into a sign campaign. |
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If you could convince more people to switch to bitcoin then yes, we could probably make the price of bitcoin higher. Support from many user is what will make btc price to rise.
To raise the price we would need a lot more users of Bitcoin and a lot more people buying in. I'm not 100% sure if we can get that many people just as forum members here. I think BTC will stabilize soon but if people sell when BTC hits 4000 again, it'll drop depending on how many people sell. If people hold, we can maybe expect more growth. |
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On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.
We don't know with his "trusted source" who knows? Maybe it's real or maybe it's not and he's just confident on what he says. It's really giving a lot of holders decide to sell what they hold now. I hope it won't go down at $3,500 and it's just going to be at $3,900 and will stay there. I'm going somewhere now and I hope when I come back home it will be good at $4,000 again. I personally feel like it'll take Bitcoin some time to rebound back to the $4,000s because of how linked China and Bitcoin are. The impact that this news has had on Bitcoin so far is what made it turn around from the upward trend when we were close to $5000. Just looking at data, there's gotta be a rebound from the downfall, but I don't think it'll take us back to where we were initially, at least not in short term. This whole China situation may actually even stabilize out Bitcoin's volatility slightly, we'll have to see. |
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We can bounce off $2800 and still be in a long term bullish exponential channel. ¯\_(ツ)_/¯
I feel like if the price drops to $2800 then a majority of news surrounding bitcoin that's open to the every-day joe will just be about how it's fallen so much, and crap about the "fall of bitcoin." I think that'll push the fall even further if we get to that low. However, I feel like the price will rebound slightly at $3500. We'll just really have to wait and see. |
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