Altcoins are a mess, but Bitcoin looks vulnerable to being dethroned

[sdersdf3]

Bitcoin has its purpose. It's almost impossible to get your hands on altcoins if BTC isn't there because it's sole purpose is to convert itself to fiat and vice versa. I don't think anything can take its place unless we get something as well adopted as BTC but I'm pretty sure we are years away from it.

That's true, in which case BTC's decline is doubly troubling - it's the latest sign people may be souring on the entire crypto thing. In any case, system clearly needs a compelling user-friendly killer app.

it's reaching new low which also means trend reversal soon but I can't confirm it on the chart YET

Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.

[inBitweTrust]

it's reaching new low which also means trend reversal soon but I can't confirm it on the chart YET

There is nothing wrong with Bitcoin. Everyone focuses on the 2 week fake peak created by mtgox bots in 2013 , but the avg for that year was actually ~180 which bitcoin is way above still.

Bitcoin is stronger than ever with new user adoption, merchant adoption, development, usage, and venture capital investments.

The halving happens in 2016... expect the market to move ahead late 2015 , early 2016 with another deflationary bubble.

Smart investors know to buy low, and not wait till everyone starts piling in at the last minute.

[smalltimer]

Shame altcoins have been a mess. Hopefully this scene cleans up its act in 2015. It's time for a viable alternative to bitcoin.

+1000

[smalltimer]

Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.

capitulation in btc was 6 months ago ... no idea what this currently is ...  

[inBitweTrust]

Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.

capitulation in btc was 6 months ago ... no idea what this currently is ...  

Much higher than the 2013 average.