Bitcoin will still continue to decline in price but in the bright side its more affordable rather than buying it in a $500-1k
So when it goes to $150 & you lose more than half of your money because you bought it today... what will you say? It will keep getting more affordable for years to come!!!
I am and forever will be long term bullish on Bitcoin.
However, I think it is pretty clear right now that there is ZERO confidence in the markets.
It is pathetic that we cannot even stabilize above $430 after what happened the other day.
Many weak hands are scared and leaving the market.
Scared money doesn't make money, so please let me have more of your cheap coins
I think we will see $375 and stay around 4xx for a long time though before anything jumps off again.
Im fine with this... more "cheap" coins for me too.
As long as adoption rate continues to climb I am happy. Price is being kept artificially low, wether it be manipulation or loss of faith. After that is done.... we all know what is going to happen.
Bitcoin just needs a spark that gives the world the aha moment for btc as a SoV. A large portion of the world is pretty aware of bitcoin now and on-ramps are opening up all over. The next rise can make all the rest of them look like a small blip on the chart.
I don't know what will set it off but the economics are in the bulls side in the long run.
What makes you think that?? Is anyone really supporting bitcoin? Everyone is just using it as a way to get more fiat... How is it a bull market long term when miners will continue to sell every coin they mint? That means unlimited selling pressure... think.
Think you say? First off it is very limited selling pressure, not unlimited - that is the point of digital scarcity.
The selling pressure is halving every two years as the block reward drops. This reward used to be twice as high as now but the price was multiples lower than today. In early 2016 it will half again. Predicting falling prices based upon a decelerating rate of inflation goes against common sense and the long term bitcoin bull market. Your reasoning is suspect.
Dude check the charts, read the order books, of course selling is limited but look how much is taking place! $1.8m in mining revenue PER DAY man, think about it... Over $2m per day would need to come into bitcoin just to maintain the current price! You're logic is waiting for the rewards to half wow. Will that somehow get people to actually use bitcoin?? Or will they just keep dumping for fiat?! Lets be serious here.
