So it is the Holiday season and it was Xmas. How many people dived into their Bitcoin hoard to buy Xmas gifts and also paid for a nice holiday with their family?
We saw a huge increase in the price, early in the season and this might have triggered a situation where people rewarded themselves with some "Gifts" for the holiday season.
The direct impact of that would have been a higher influx of coins onto the exchanges and if that was not met with a higher demand for coins, then it would explain the drop in the price.
Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?
That maybe one of the reasons why bitcoin price dropped because of holiday spending but the drop is one of the worst that happened to a leading cryptocurrency this year. There are some other causes that might also contributed to the massive drop of bitcoin like the fears of bitcoin bubble, the infighting between the supporters of bitcoin and bitcoin cash, hacking and regulation, possible market manipulation and high mining fees. |
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The reason why some governments are setting up some cryptocurrency regulation in their country is to prevent any unlawful use of virtual currencies by some elements that deals with money laundering, drug trafficking and other illegal activities. Any corrupt officials can easily use the cryptocurrency to pursue whatever their plans.
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Bitcoin's massive drop is said to be the worst since 2013 and sent chilling effect to many bitcoin holders and investors before it recovered last tuesday. There are even forecast of further drop that may reach $8k per dollar before the rebound. The recent drop proved that cryptocurrencies will always be risky to invest and need to be the on the lookout for every price changes.
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With BTC in such a strong uptrend atm, are you buying altcoins right now? A lot of them are kind of 'cheap' and have been falling while BTC have been increasing.
The price of some potential altcoins are still in downtrend and it will be the right time to buy several of them. investing in altcoins can give you good profits if you put it in trading. Coins like ethereum, bitcoin cash, litecoin and ripple shows some signs that it will gain more in the coming year. |
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As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
It is not yet possible in the near future to replace physical money with cryptocurrency. It need the full support of government and private sectors to make it possible. There is also a need for wide digital infrastructure support to make it works. Possible problems may arise in the future if it is implemented without any comprehensive plannings. |
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I'll buy some coins, My idea Prices may increase in 2018...Want to know your opinion, I do not think there will be a loss..My previous purchase was something Their prices are much lower now
It's still the best time to buy bitcoin after it going down 30% this month. This kind of correction might be the long awaited one and many traders will be selling for profits. If you preparing for bitcoin price increase next year, it's better to buy now while it is still in a low price. |
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Hi guys! Thanks to all response. And yes gambling is definitely not for me.  I should just try into investing rather than losing all my earned btc on gambling. It's too late for me to sour grapes on the btc that I already lost and I will just focus on trying to start again. I'm just really thankful that I stopped before its too late.  That's a good decision, quitting a gambling before it's too late. It's not only that gambling is not meant for you but the effects that you may experience when you are already addicted to gambling. There are many ways of earning profits like what you said, investing, or learn how to trade using your tokens and bitcoin. |
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Hundreds of altcoins are in the market and ready to be bought and trade. Try to look at their marketcap and volume. Study the ideal total marketcap of an altcoin before investing on it. Some altcoin with low volume might indicates lack of interests from other buyers or sellers. They are also people who promises that the value of a certain coin will rise many times in the week or month, do't get swayed on their forecasts and instead study the market indicators.
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Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?
Mostly right,, they don’t want cryptocurrency for that reason.. Controlling it,, that they can’t even manipulate the market for political reason and used to blackmail investors for money or corruption that is obviously they wont know without personal information available.. Not like on stock market that they’re well-known and can be easy to asked for anything especially in election time.. in addition, the government is still not ready to anticipate crime that uses bitcoin, such as black market, money laundering, drugs, etc. but do not worry, some countries that do not legalize bitcoin just forbid bitcoin be used as currency, there is no prohibition to own and invest with bitcoin, just given a warning only. Bitcoin is said to be a decentralized peer to peer payment system that is powered by its people with no central authority or middlemen. Governments formulates monetary policy and control the finances of their country. Some reasons why they control the flow of their currency is to monitor it uses. their fiat might be used to sabotage their economy, use in money laundering and other crimes that might endanger their economy and their citizenry. Bitcoin lack of central authority is the main reason why governments are still apprehensive of legalizing it as one their currency. |
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Some altcoins are hitting their own all-time highs especially ethereum, ripple and bitcoin cash. They have their own time to rise up and not always during the price downtrend of bitcoin. There is a possibility that one of this altcoins will challenge bitcoin domination in the future. There are some potential altcoins with features that are better than bitcoin.
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As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?
It is well known to us that bitcoin price always fluctuate rapidly and corrections occur from time to time. There is always when it comes to investing bitcoin in long term. Apart from possible hacking of your bitcoin wallet and losing a wallet account, there is also a possibility of big price crash that affect the value of your bitcoin especially when you bought it at high price. |
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This bitcoin deep correction may last through year end then will bounce back again if there's no upcoming events that might affect it. There are corrections of bitcoin that happened in the past years and many of them are short lived. Despite of this major correction, bitcoin price can still rally in the short term.
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It hard to quit gambling when you are hardcore gambler but to those who are gambling occasionally and use it only as a pastime, they can quit anytime. Quitting gambling might requires many attempts, you should associate yourself with people whom you are accountable, join some healthier activities, avoid internet that promotes gambling and your determination to quit gambling.
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Almost all cryptocurrencies are in correction including bitcoin.Some traders are expecting altcoins to rise while the bitcoin is down but it did not happen as many altcoins also followed bitcoin downtrend. Altcoins are good to buy now but you should select the altcoin that has the growth potential in 2018 and continue to hold your remaining bitcoins.
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Almost all altcoins including bitcoin are experiencing price downtrend or in Christmas correction. This consolidation might continue throughout the holiday season with some altcoins trying to break the trend. It is also time for buying some of them while they are still in red and bearish mood. Bullrun might happen next year when investors are back in business spending holiday.
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Gambling is still a game of chance no matter how vast is your experience in it. In a fair game or not, long time gamblers still experiences losses. One must possess a super human ability to master the game of chance and always on the side of winnings.
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Consolidations is a part of any cryptocurrencies, even if they are stable they will going to experience many price dip. Panic selling will only lead to some more price dips. Many investors are also looking for cheap bitcoins so it is their time to buy while it is undergoing correction. Maybe bitcoin has it own kind of holiday before bouncing back again.
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Many bitcoin critics calls it a scam, a bubble,a fraud, a huge danger and other negative remarks making bitcoin a controversial cryptocurrency. The rocketing prices of bitcoin that almost reach $20k in just a year before a dip can be also a controversial one because of its rapid rise. But bitcoin is a virtual currency and no one controls it and huge demands naturally pushes its price up.
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Japan's enacting a bill to regulates for their cryptocurrency exchanges is a form of safety nets that provides protection for their citizens that uses virtual money against unlawful activities. Some central bank officials in the Philippines are also making their moves by creating a regulatory guidelines for digital assets like bitcoin and their exchanges. |
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So Chandler Guo's Bitcoin god, said to be actual alternative to bitcoin, is coming to reality and it will be born on Christmas day. It is to be forked off at the blockheight of 501225 from the main bitcoin chain. Once bitcoin god created, it will many challenges like the one that happened to some previous bitcoin forks
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