andyandyuk (OP)
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January 16, 2018, 02:52:43 PM |
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Crypto price is heavily driven by news and now large trading institutions that have the ability to manipulate price with high frequency buy/sell/cancel orders. This is normal.
Seriously, crypto is not for you if:
1. you are looking for short term gains and need to get your investment back in the short term
2. you are checking the price every 5 minutes
3. you cannot afford to lose your investment.
Many will panic sell. This is also normal and will have minimal impact on the price compared to major investment sell-offs, which is unlikely, except to leverage an even better price. Others will be using this opportunity to buy.
There are only 2 legitimate threats to crypto:
1. Widespread government/bank regulation or prohibition
2. Big players and powers that be manipulating price like they have done with gold and silver for the last decade.
The #2 in legitimate threats is already real, and it is also coming from its competition via fuckheads at bitcoin cash. Yes, I am seeing that too. |
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Panda_Pendek
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January 16, 2018, 02:54:04 PM |
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This is really true. Stop panicking and think of selling the coins we have, because it will not be long before the price will stabilize again and even the price can jump up. Circumstances like this (the price of coins down) often happens, and here's an opportunity to add to our collection of coins. We just need to be patient
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IanDev
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January 16, 2018, 02:56:07 PM |
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You are right about the threads to crypto (big money and governments, but let's hope they don't succeed in their actions.
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andyandyuk (OP)
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January 16, 2018, 03:00:23 PM |
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It is worth noting that bitcoin has and is continuing to go through significant black PR the past few weeks. Media are tearing it apart, pyramid scheme, well know money moguls slamming it etc. Bad new after bad news, yet the price has held well considering. That is actually a bullish sign. A blue chip stock would have thoroughly tanked with a similar onslaught of setbacks and crappy news. Guys, I feel most of you are overconfident of the matter. Remember, the law of markets holds good for Crypto world too and unless the bear market falls, the bull is never gonna take on. And to see what will call in a bull market in Crypto, its the confidence and trust among large players, institutional support and a steady stakeholders. I hope in any one quadrant things should turn positive in the near future to keep the stakes high. I only wish that will happen!
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zeingrind777
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January 16, 2018, 03:03:17 PM |
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I'm sure the current price reduction will not last long. all will return to normal because that manipulates the price most are big players. if they are able to lower prices, there will definitely be a bigger player to raise prices
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letecia012
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January 16, 2018, 03:09:05 PM |
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I know that bitcoin and some other COINS have dropped a lot today. Many people are panicking and trying to control some COINS, but we need to be patient and believe they will come back soon.
its a bloodbath for our portfolio today almost major coins are dropping down bigtime if i have some spare money i will buy more because i know this is just q temporary shake out to send fear to newbies that crypto trading is not an easy money business. its a high risk game that need patience and analytical skills |
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cryptostump
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January 16, 2018, 03:11:11 PM |
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Most... except Tether  |
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argiyan.tri
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January 16, 2018, 03:15:32 PM |
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but for a new player in the crypto world, like me, would be very worried about this. then how do you think about the price of btc the next few months, is it going down or vice versa?
Thanks
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mOgliE
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January 16, 2018, 03:16:02 PM |
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I completely agree with what you are saying here...
Though, I would add 2 limits that may become threats if there aren't dealt with quite quickly..
1) the volatility prevents most users from thinking "bitcoin" when they want to buy a good, just because the price is so changing
2) technical limitations are slowing down operations and are due to the big number of users... so network/nfrastructure should be developped so that everyone can make transfer at any time without any visible impact
As for people who are only looking for short-term profits... I would say it is a good way of discovering bitcoin. Most will quit quite rapidly but for those who stay, they have had a "real" vision of the community at inception!
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Virman01
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January 16, 2018, 03:16:55 PM |
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this is indeed very worrying, but I believe the price is now only temporary, and will go back up in the near future.
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andyandyuk (OP)
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January 16, 2018, 03:18:30 PM |
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Be grateful you have a crypto holding and spare a thought or two for those that have lost theirs due to greed, fraud, theft etc. I had around $200,000 of BTC stolen from my wallet and over $40,000 of alt coins stolen from Cryptsy exchange. Fortunately I had a few Casascius coins kept by but many were not so fortunate.
Although bitcoin has transformed the lives of many for the better it has also destroyed many lives and bought out the crooks looking for a quick buck.
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andyandyuk (OP)
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January 16, 2018, 03:27:15 PM |
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but for a new player in the crypto world, like me, would be very worried about this. then how do you think about the price of btc the next few months, is it going down or vice versa?
Thanks
I purchased my first bitcoin at $55 and then a few more at near $200 only to witness the first bitcoin crash as it dropped back to $50. A few weeks later I was buying at $1500 only to witness the second bitcoin crash as it sunk below $200. Fortunately I held, although most of these were later stolen but that is a different story. I very rarely checked the price. Just forgot about them really as they were always procured as a LONG TERM investment. Couple of years later it recovers and 2 years after that it exceeds $10,000. It is a very simple principle: Bitcoin is a VERY HIGH risk, VERY HIGH reward investment with the potential to hit $100,000 or more. This WILL NOT happen overnight and requires a long term holding plan. |
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nightxglow
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January 16, 2018, 03:33:41 PM |
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That's absolutely right. Crypto currency is not for those who don't have any patience at all.
My relative who also invest and trade in bitcoin, is not a person with patience. She always check the price every minute and will be very panic if the price drops or such.
Although the price only increase a little, she will immediately sell it because she's afraid it will drop more, before knowing that the price will even get higher and higher.
Most coins have big prospect, and we should believe it and wait, not act recklessly and sell everything in panic.
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aeternus
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January 16, 2018, 03:44:32 PM |
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Crypto price is heavily driven by news and now large trading institutions that have the ability to manipulate price with high frequency buy/sell/cancel orders. This is normal.
Seriously, crypto is not for you if:
1. you are looking for short term gains and need to get your investment back in the short term
2. you are checking the price every 5 minutes
3. you cannot afford to lose your investment.
Many will panic sell. This is also normal and will have minimal impact on the price compared to major investment sell-offs, which is unlikely, except to leverage an even better price. Others will be using this opportunity to buy.
There are only 2 legitimate threats to crypto:
1. Widespread government/bank regulation or prohibition
2. Big players and powers that be manipulating price like they have done with gold and silver for the last decade.
I think that even that is no real threat, if there is a single country like Japan that keeps accepting bitcoin and other places like tax havens then bitcoin could keep thriving as an asset and in a minor way as a currency, if I had enough money to afford to live in those countries I know I will move out there in a heartbeat and never look back, to me the greatest threat is number 2, big players reducing the price of bitcoin. |
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shailkumari
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January 16, 2018, 03:53:16 PM |
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You are right about the big players, they are already having huge impact on the prices. If they sell in bulk, the price drops by huge levels. I think this will balance out with time passing by as more and more common people are joining the race.
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MaitoMaito
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January 16, 2018, 04:02:08 PM |
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Wonder how much people going to cash out today? WASTED
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Parwesh Chaudhary
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January 16, 2018, 04:02:35 PM |
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I think a lot of cryptocurrency holders are immature and looking for short term gain only, these people do not understand the concept behind cryptocurrency.
If such folks become mature, crypto industry would gain some stability.
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DAVETUN
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Bitcoin is the currency of this age
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January 16, 2018, 07:22:16 PM |
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Yes nothing to worry about, news always has impact on the price of in this space,this is the best time to invest and hold,things will sure be stabilize
Cryptocurrency is a sector developed to sustain and replace the old form of investment,such as threasury bill,IPO,,Not meant for gamblers and investors that are eager to take profit.
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