|
The price is decreasing because people are selling Bitcoin at lower price and there are buyers for the same. People sell at low price when they are concerned about their investment and want to withdraw their money and convert it to fiat.
Recently many negative news are spreading that have created a panic in Bitcoin community. People are now more skeptical about Bitcoin's future. However, this drop is for short term. Bitcoin has always dropped after touching some fixed ATH. First happened at $3000 and now at $5000. Relax and keep on holding. Price will recover soon. Wait for sep end atleast.
|
|
|
|
|
According to some resources the recent ransomware attackers have already exchanged their Bitcoin for cash, but by first passing their Bitcoins through a mixer which made it tough to know the source. Mixers can largely help in hiding any Bitcoin transactions that too easily. But according to another resource, the use of Bitcoin in illegal activities have reduced to half and people have started using other cryptocurrencies for the same.
|
|
|
|
|
1. Speculations are not new.
2. If China bans Bitcoin exchanges, then yes there will be an impact on the market and might be huge too. But market will ultimately recover. We have seen Mt. Gox period as well. I am sure dump wouldn't be that huge.
3. Next, banks creating their own cryptocurrencies. This will rather strengthen the Bitcoin market. As banks will try to popularise their currency, people will become aware of other cryptocurrencies as well where Bitcoin will gain the most attention. Everyone like to invest in the best currency.
|
|
|
|
|
China isn't banning Bitcoin exchanges. This is a manipulated news. The crash has something to do with ICO ban. As there is no official statement or any news from Chinese media. I don't think we need to believe that.
|
|
|
|
|
Whenever there are many people holding one commodity, speculations are always there. Be it stock, forex or cryptocurrency market. Everyone will guess the future potential of the commodity because ultimately the price is dependent upon the potential use and future demand. This speculation cycle will keep on moving along with the growth of cryptocurrencies.
|
|
|
|
in my opinion decentralization has little to do with the volatility or perhaps none even!
the price of bitcoin is so volatile because it is still very small and the price of it is controlled in the exchanges. and in these exchanges the orderbooks are so thin. at the first look they may not seem like it but if you analyze them you can see a rather small amount can change the price a lot.
until this changes and the orderbooks gets more packed with orders which are $0.01 apart and are bigger, the volatility will remain big.
good news is that we are on the right path. volatility has been decreasing. for example back in 2013-4 price could go up and drop down in 3 days as big as 77% but these days you don't see a drop bigger than 20%
In your example too decentralisation is playing the major part. Different exchanges have different prices because different people put different buy-sell order. This happens all because of decentralization. Everyone has freedom to sell-buy at any price. When majority start accepting that price. Market experiences fluctuations. User base also has major effect on volatility. More will be the user base less a holder can drive the price and hence less would be the volatility. |
|
|
|
I think the drop had nothing to do with the China ICO ban rumor and everything with the 5000$ barrier.
Exactly, a dump was already expected as Bitcoin rallied to $5k. China's ICO ban just intensified it. As always many new investors were caught in the dump and many traders took the benefit of the dropped price and increased their BTC holdings. |
|
|
|
|
Many people have diversified investment plan. Have investments in cryptocurrencies, gold, property and stocks. It depends upon person to person. I too had a hugely diversified portfolio. But now I have majorly shifted to cryptos. They have huge potential and can give huge returns if invested wisely, more than any of the traditional investment asset today with less risk.
|
|
|
|
|
Another troll post!
Keep them in your wallet for a decade or two. You might buy a house with that amount. Happy investing!
|
|
|
|
|
Why you think that dump occurred?
Only because all these shit news propagated by media and new investors falling for them. FUD spreading is getting common in cryptocurrency market. Anyone is spreading any news and predicting anything. We just can't escape that.
|
|
|
|
|
Hundreds of ICOs are coming every month and have created such a competetive market that yes, many will reap benefits of China's ICO ban. There is no deny to that. Chinese government haven't done anything wrong too. With such a high rate of scams in ICOs, they banned them for safeguarding their people from potential scams. I think many more countries will soon do the same or will keep a regulating body to verify the ICO project.
|
|
|
|
The idea of widespread economic and financial changes caused by simply raising or lowering rates isn't something that I strongly believe in.
If someone decides to save money in a bank, many don't bother to check interest rates or shop around to find the savings account which pays out the highest annual percentage yield. If people want to save, they save. If they decide they want to spend, they spend. The only ones who look at interest rates to decide whether they're saving or buying or what their financial outlook and planning for the next year looks like are probably one percenters, the wealthy, the elites. The vast majority of people don't know what current interest rates are, much less what the term means.
This idea that people have where they think interest rates will have widespread consequences for normal people could be farfetched. Interest rates are treated like a keyboard that has only 1 button in it. Economists claim they can cause widespread economic prosperity or disaster simply by pressing a single button. The truth is 99% of people will buy/sell/save and don't care what interest rates are. Most people don't care about their credit rating or interest rates and many of them don't understand how either of those things affect their credit card payments, house or car loans. The only people who care about interest rates are the wealthy, thus interest rates only affect the financial/economic behavior of those who are rich.
Here we aren't talking about less interest rate but negative interest rate which means that you have to pay banks to keep your money in their saving accounts. You won't be earning any return on your saving amount but instead you need to pay bank. This will definitely have an impact on account holders. They will take their money out of the banks and will put in other assets where they can grow their money effectively. In such situations crypto world can be a good replacement and would reap the benefit. |
|
|
|
In this phrase is how I explain Bitcoin in all senses.
"Bitcoin is the most free and pure form of a crowd-economy, free from the oppression of governments."
The phrase you said can be determine with the word 'decentralize' as any other altcoins also claiming of. Bitcoin nowadays is not free anymore at all because of this high fee in transactions that sending a micro payments is regretful. But let's hope that the scaling of bitcoin will help this transaction fees to go low again so that almost free transaction fee is achievable again and people will use micro payments again. There is a significant drop in fees right now. Segwit effects have started showing. Today only I send 0.2 BTC with Network fees of 0.0005 and my transaction got confirmed in less than half an hour. If you are not able to reap benefits of low fees, then problem is with your wallet provider. They are charging you more. Kindly look into it |
|
|
|
|
What I think is rather than being concerned, you should be happy. After such a big shut down in one of the dominant country in cryptocurrencies, market recovered in a day and is back to momentum, of course except some coins. This shows that market is quite stronger than before and is maturing. In future with better userbase, such dumps would decrease significantly.
ICO shut down by Chinese government is for safeguarding their people for potential scams. On a government point of view, it wasn't bad at all. They haven't banned Bitcoin or other cryptocurrencies and that will less likely to happen. There is no threat.
|
|
|
|
The $20,000 prediction is a safe one, assuming price developments of the past remain valid for the future. But it takes only one bubble to shed that safe $20,000 projection to pieces. Looking at the BETI indicator, we have reached neutral zone now. A 2013 repeat would mean $30,000+ That is not impossible, especially if we are nearing the point of 'crossing the chasm'. With marriages of fiat and crypto rolling out (e.g., TenX, Bankera), we may be less away from this point (the chasm) than we think. Crypto is definitely a HODL for me toward 2020, no matter what (except the BETI indicator reaching 1.5 before that). Accumulate, HODL and prosper. $20k is way too safe a prediction when it comes to Bitcoin. Bitcoin would be easily touching $20k by next year. Year 2020 holds much more. If the price keeps on increasing the way it increased in 2017, then $100k is very much possible by 2020. Demand have started to increase. Investors are coming in. Wave have started. |
|
|
|
|
I am glad that the price is not in USD but in BTC which is quite rare to happen. We have seen people using BTC for buying properties before too but set price was usually in USD. Also, this is the smart move my seller. He will give 9% returns to the buyer after the construction completes whereas Bitcoin would be rising much more than that. But on the whole I am glad that something at bigger scale is happening. More will follow the suit. These things will ultimately help in increasing the popularity and hence the demand.
|
|
|
|
|
This contest is getting long. I am glad my two choices made to the second round.
|
|
|
|
|
Except for earning Bitcoin. Cryptocurrency market is so exciting. I still consider ourselves to be early investors as their are only some millions. Cryptos will take us to a whole new ride. Possibilities are infinite. Many people still consider is a fun way to make money. But dude! The market is maturing and things are getting serious now. I think this is enough a reason to have the energy to follow this forum and write too.
|
|
|
|
|
Show Posts
