What you stated above is more or less a case of history repeating itself and which it does always! One of the main reasons for that, is the fact these markets are ran by people and the whole lot of human emotions and psychology get factored in decisions made in the markets, thus making some patterns obvious and traceable. Many of us have been witness to what FUD and panic selling does to the cryptomarket and how the resilience in Bitcoin always takes center stage after every such sell off and those of course won't be the last.

One more thing is that it is an established fact in the financial markets that about this time of the year, the market usually turns bearish as a good number of traders and investors round up their trading activities for the year to be with families and friends. What to do is to simply seize the opportunity it offers to buy low again instead of joining the FUDsters!

In terms of well designed, I doubt that holds much water because the Ethereum protocol have been open to hackers not once nor twice:

http://fortune.com/2016/09/04/ethereum-fall-out/

https://wccftech.com/ethereum-etherparty-ico-hack/

If it were unable to overtake Bitcoin at the peak of its shine and at a time when Bitcoin house was falling apart, I strongly doubt its chance now that Bitcoin have gotten its groove back. The huge threat poised by Segwit2x is now abated, trading in Bitcoin Future successfully took off in the U.S. and Japan making a move for 2018 and then the implementation of Lightening Network, right on the way! Bitcoin is obviously waxing stronger and more popular by the day.

Of course everyone cannot be willing to cash out the same time but if a large number of people start to sell their coins, we would eventually get to a point where the supply of the coin would exceed its demand and laws of Economics states at such a juncture price would drop. People basically take profit at this time of the year for various reasons and some simply unfold their holding to mark the end of their trading for the year. Be that as it may, a knowledgeable trader should be able to see the opportunity in it instead of panicking.

That sounds so good and engaging, but reality is that it isn't all said and done. There are instances a supposed bottom turns out a weak support level and subsequently yielding to pressure from sellers and price dropping further down. What I think would offer a more effective and less risky approach would be to carry out the buy back at intervals instead of just at once and at a price. They call it averaging and it is one of the proven ways to checkmate very volatile markets.

That goes to highlight the fact there's virtue in being able to understand one's strength and weakness and then summon the will power to act inline with that. Day trading, as well as any other form of trading is not suitable for everyone, however when you discover which is yours, the drive comes naturally and you would be willing to dig deep and deeper, enduring pains and set backs until you're able to get it right or better. So the problem is not really with day or swing trading, because there are no guarantees either way, consistent profit comes only with passionate knowledge and skills.

It is ridiculous how people expect that after the sudden skyrocketing in the price of Bitcoin, it would hold out there! Truth of the matter is that no market ever works that way. After a market is overbought, it naturally reverses until it becomes oversold and the cycle goes on.  

Bitcoin have long been  overbought and except for the emotionally attached traders, this correction has been long coming and having to come at the ending of the year, when traders usually wind off, is rather a strong indication of what bullish pressure had been behind Bitcoin.

The development might be a crash and end of the road for Bitcoin for all the Fudsters, but the announcement of the death of Bitcoin is now nothing  new, my priority right now shifts to identification of dips and securing of more profits for 2018.

To have to say goodbye to Bitcoin after all these time, highlights an underlying frustration and unrealized  dreams and that are uncalled for except for too much expectations from something one isn't in control of. A point of order here is that every altcoin out there is in competition with Bitcoin and because they  haven't solved any major problem Bitcoin didn't,  their place continues to tag behind Bitcoin.  

2017 will be remembered as a year of putting the records straight for Bitcoin and now that battles have been fought and won, going forward would be the ample  time for elvoving and consolidation just  like every great feat known to man. The entire picture have  never been immediately obvious, but the signs so apparent, though only few eyes are able to see them.

It turns out that is one of the wishes of some new comers and as selfish and narrow minded as that sounds, they fail to realize a crash in the price of Bitcoin would spell doom in the entire ecosystem. At any rate, that is just their day dream and a quick pointer is that, this is no longer 2013, and vast interests have sprung up across the globe and making the adoption unabated.

A clarification also becomes exigent here, because a number of people seem to be struggling with the differences that exist between a crash in price and a market correction, which can indeed be a pointer to half baked trading knowledge.

Can I have the last one left? Thanks in advance!

Bitcointalk Username: Victorycoin
Position to Apply: Hero Member
Current post count: 1725
Wearing Appropriate Signature: yes
BTC Wallet address: 36WGG9UUnSe2fyipJE5bRZ9dFf5PWBuN73

Why people never learn? All you guys aspiring to carry out this task, should first ensure they would eventually get paid by asking op to escrow the money with any reputable escrow in here. That's the first thing especially when dealing with a newbie.

I'm interested

Why feign ignorance of the fact, you want members here and by extension, the forum itself, to endorse your scam program or what's going to be generating the extra coins? Overall, you seem too cheap, you could not even pay for SSL for the supposed site that doubles Bitcoin - stop fooling yourself!

I see Decoded was diplomatic enough the way he went about the matter and you were supposed to have continued discussions and negotiations in private. Now that you have succeeded in blowing the lead, you're going to require a deep root in Crisis Management, to be able to convince anyone about the continued viability of your project. An attribute of any good manager is in their ability to manage crises, conflicts,successes, etc and  not to become exasperated or attempt to pass the bulk.

Alright guys, here's Santa to ya'll!

Ehrhc don't be responsible for people's sadness this season! It would be against the spirit of Christmas for you to give people false hope and wasted 3 precious weeks they ought to have put into more gainful use. I know you won't be able to sleep with all that, so now, let Project C -------> Project Christmas, put smiles on the faces of all those, who have done their work.

You know you could have avoided all these, if you were open to advice and suggestions - no man has everything, but everyone got something!

Can I take up the 1 spot that's available for a Senior member?

Btctalk name: Victorycoin
Rank : Sr.Member
Current post count: 1719
Bitcoin address: 36WGG9UUnSe2fyipJE5bRZ9dFf5PWBuN73

Edit:
Became a Hero member today  but the application stands.


Moving on!

I am yet to understand  the madness in people overstretching their bodies in the quest to make so much money, only to end up spending same in search of good health! I suggest moderation as the best choice in every single thing we do. As for trading in Bitcoin or altcoins, sleepless nights become inevitable unless a trader is equipped with the right trading knowledge and skills. Beyond that, pampering oneself off of some of the profits, from time to time can be quite soothing and reassuring, life's for the living!

Username: Victorycoin

We saw Bitcoin breach the $19000, 00 price level today, so the $20,000.00 level is only a breath away and with not major threat like another hard fork in view, we can expect the recent rally can only but continue so it is almost a done deal.

You stand to lose anyway, however you trade if your approach is not backed by good understanding of how the market works. As for day trading, any knowledgeable trader can by keying into and staying put with the dominant market trend, sail with the wind behind them than against the tide. For instance, if a market is confirmed to be in any up trend, a day trader can act smarter by hunting for only oversold conditions before placing any order.