ALL ABOARD

[fabiorem]

I have mixed feelings about this. 2.3billion $ is a lot. It may help burying that down. Dont underestimate the power of money.

I think they already dumped btc for that. Marketcap had lost more than 100 billion.

[Wilhelm]

I believe this is far from over. Keep in mind we still have the Tether subpoena outcome around the corner.

Tether is a known now....

[Wilhelm]

If this is a repeat from the last 5 years we can expect Bitcoin to reach $317k in 2022  

[Harlot]

I admire your optimism considering on the position we are all in. I consider it as something new as I rarely see people like you during this kinds of periods. I often see people giving up on Bitcoin as early as they experience a drop. However we may have to disagree on Bitcoin taking off shortly as I still see it on a down trend and what rally we are seeing now is just a little bounce off from 6000$. We may found a new bottom here but let us still be cautious on what might happen next as there are important evens to come.

[richardsNY]

If this is a repeat from the last 5 years we can expect Bitcoin to reach $317k in 2022  

No need to exaggerate the situation. Sure, we'll be going up again, basically like how we have always gone up again, but we have to remain realistic. If we manage to reach $30, $40, $50k before the block halving, we'll be doing just fine. If lightning network is up an running with a properly distributed adoption, which by that time shouldn't be a problem, we will blast through record high after record high. For now we have to remain patient with the market, because aside from a short term peak to potentially $10k, we shouldn't expect the market to do anything extraordinary without new developments steering the market forward.

[btc_angela]

TA:
We seem to be starting a positive channel. Whales stepping in again.
Some good volume going on.
Bad news is fading out. Bans aren't real (as we already knew).
Killer drop got rid of the weak hands.

I don`t see any whales "stepping in again".Perhaps the whales are acting like "bears".They are selling and waiting to buy cheap btc.The small traders and all the newbies are going to lose a lot of their hard earned money+their faith in cryptocurrencies.I still have some faith that bitcoin is going to recover at the end of 2018.The bad thing is that all the people claiming that bitcoin is a bubble are right, and now they say "I TOLD YOU SO!" 

I think the whales are just waiting to jump in. They are all aware that this is a perfect time to buy in, however, they are skeptics because the price is stalling. But if ever there's a positive news that will come along, they will be the first one to pounce and get bitcoins at this discounted price.

Maybe they have change their outlook, but I'm sure they are going to enter and keep the bears at bay. Time to see the market to rally and makes another bull run. Let's see how it goes. But don't count the bulls out yet.

[Biodom]

because it is a fact. I am afraid that as long the shitcoins are around, bitcoin cannot go to new ath.

I disagree on this because of two points, a major and a minor ones:

1. You need an ecosystem to replace fiat. As much as I like bitcoin, other coins add something. A flavor, perhaps? Some experimentation on the fringes, maybe even additional utility sometimes. It is good for innovation and 'animal spirits' of the whole cryptosphere.

2. A rather minor point: if they are shitcoins, why care?

[600watt]

because it is a fact. I am afraid that as long the shitcoins are around, bitcoin cannot go to new ath.

I disagree on this because of two points, a major and a minor ones:

1. You need an ecosystem to replace fiat. As much as I like bitcoin, other coins add something. A flavor, perhaps? Some experimentation on the fringes, maybe even additional utility sometimes. It is good for innovation and 'animal spirits' of the whole cryptosphere.

2. A rather minor point: if they are shitcoins, why care?

the problem with shitcoins is that they are mostly issued by companies. most of those companies have a very very large marketing division and nothing more. they are ideas, they are bait for newcomers in crypto. what is alt is currently used for a meaningful thing?

I got a friend who started to get interested in bitcoin about half a year ago. he started to ask me about bitcoin, I provided him with sources of info. a few months later he came back and told me that he had invested his life savings. I expected he bought bitcoin. (well, technically he did, but only to buy shitcoins with) he had invested in ripple, cardano and electroneum.

i was confused, tried to tell him that this is very risky. he approaches me now telling me how outdated, expensive, unusable, slow bitcoin is. that no one believes in it anymore.

now, even with this brutal correction, he is less concerned than I am. he is in the red now. I try to hint him to get out of alts and into bitcoin. no, he is having cash ready and buys more of the shitcoins now, "cheap coins"...  he is a smart guy, but he totally drank the altcoin cool aid.
social media is in the hand of altcoin pushers. good think that facebook is not doing it anymore.

[noloco]

because it is a fact. I am afraid that as long the shitcoins are around, bitcoin cannot go to new ath.

I disagree on this because of two points, a major and a minor ones:

1. You need an ecosystem to replace fiat. As much as I like bitcoin, other coins add something. A flavor, perhaps? Some experimentation on the fringes, maybe even additional utility sometimes. It is good for innovation and 'animal spirits' of the whole cryptosphere.

2. A rather minor point: if they are shitcoins, why care?

the problem with shitcoins is that they are mostly issued by companies. most of those companies have a very very large marketing division and nothing more. they are ideas, they are bait for newcomers in crypto. what is alt is currently used for a meaningful thing?

I got a friend who started to get interested in bitcoin about half a year ago. he started to ask me about bitcoin, I provided him with sources of info. a few months later he came back and told me that he had invested his life savings. I expected he bought bitcoin. (well, technically he did, but only to buy shitcoins with) he had invested in ripple, cardano and electroneum.

i was confused, tried to tell him that this is very risky. he approaches me now telling me how outdated, expensive, unusable, slow bitcoin is. that no one believes in it anymore.

now, even with this brutal correction, he is less concerned than I am. he is in the red now. I try to hint him to get out of alts and into bitcoin. no, he is having cash ready and buys more of the shitcoins now, "cheap coins"...  he is a smart guy, but he totally drank the altcoin cool aid.
social media is in the hand of altcoin pushers. good think that facebook is not doing it anymore.

There are shitcoins and other coins with different use cases than bitcoin, if the later your friend is in a good position with promising tech waiting to be developed

[Slark]

If this is a repeat from the last 5 years we can expect Bitcoin to reach $317k in 2022  

Well, this number of BTC worth more than $300k is the product of our expectations on mathematical extrapolation, nothing more.
We cannot possibly know what future will bring, how do we know that there won't be any blockers ahead?
A serious negative anti-bitcoin law could change the rules of the game completely - so IMO, it's unwise to predict the price of BTC 5 years ahead.

[600watt]

because it is a fact. I am afraid that as long the shitcoins are around, bitcoin cannot go to new ath.

I disagree on this because of two points, a major and a minor ones:

1. You need an ecosystem to replace fiat. As much as I like bitcoin, other coins add something. A flavor, perhaps? Some experimentation on the fringes, maybe even additional utility sometimes. It is good for innovation and 'animal spirits' of the whole cryptosphere.

2. A rather minor point: if they are shitcoins, why care?

the problem with shitcoins is that they are mostly issued by companies. most of those companies have a very very large marketing division and nothing more. they are ideas, they are bait for newcomers in crypto. what is alt is currently used for a meaningful thing?

I got a friend who started to get interested in bitcoin about half a year ago. he started to ask me about bitcoin, I provided him with sources of info. a few months later he came back and told me that he had invested his life savings. I expected he bought bitcoin. (well, technically he did, but only to buy shitcoins with) he had invested in ripple, cardano and electroneum.

i was confused, tried to tell him that this is very risky. he approaches me now telling me how outdated, expensive, unusable, slow bitcoin is. that no one believes in it anymore.

now, even with this brutal correction, he is less concerned than I am. he is in the red now. I try to hint him to get out of alts and into bitcoin. no, he is having cash ready and buys more of the shitcoins now, "cheap coins"...  he is a smart guy, but he totally drank the altcoin cool aid.
social media is in the hand of altcoin pushers. good think that facebook is not doing it anymore.

There are shitcoins and other coins with different use cases than bitcoin, if the later your friend is in a good position with promising tech waiting to be developed

that is what I don't get: they offer nothing than promises. bitcoin is up and running for almost a decade. how come "promises" have a market share of about 65% and a REAL, decade old network that is proven to work 24/7 gets only 35% ?

[ChinkyEyes]

because it is a fact. I am afraid that as long the shitcoins are around, bitcoin cannot go to new ath.

I disagree on this because of two points, a major and a minor ones:

1. You need an ecosystem to replace fiat. As much as I like bitcoin, other coins add something. A flavor, perhaps? Some experimentation on the fringes, maybe even additional utility sometimes. It is good for innovation and 'animal spirits' of the whole cryptosphere.

2. A rather minor point: if they are shitcoins, why care?

the problem with shitcoins is that they are mostly issued by companies. most of those companies have a very very large marketing division and nothing more. they are ideas, they are bait for newcomers in crypto. what is alt is currently used for a meaningful thing?

I got a friend who started to get interested in bitcoin about half a year ago. he started to ask me about bitcoin, I provided him with sources of info. a few months later he came back and told me that he had invested his life savings. I expected he bought bitcoin. (well, technically he did, but only to buy shitcoins with) he had invested in ripple, cardano and electroneum.

i was confused, tried to tell him that this is very risky. he approaches me now telling me how outdated, expensive, unusable, slow bitcoin is. that no one believes in it anymore.

now, even with this brutal correction, he is less concerned than I am. he is in the red now. I try to hint him to get out of alts and into bitcoin. no, he is having cash ready and buys more of the shitcoins now, "cheap coins"...  he is a smart guy, but he totally drank the altcoin cool aid.
social media is in the hand of altcoin pushers. good think that facebook is not doing it anymore.

Do not worry, I was like that around June/July 2017, but now I'm on the BTC train. He will learn from his mistakes and adjust. Basically whats going through his mind right now is that there is no more room for bitcoin to grow, but the low priced altcoins have a lot of room to grow. This is a common mistake among newbies in crypto. Most people I have talked to, when they first started with crypto have invested in ripple but avoid it now and stick to BTC. Nowadays there is cardano and electroneum that lure those newbies in as well.

[Lucius]

Price is crossed 7000$ and it is now 7250 on Bitstamp,is this true recovery or just one more trap we'll soon find out.What is more important what will be reaction if price start to rise in the days ahead,some people just wait higher price to sell and return their investment and to end up with this story.

One thing is certain,some have earned big money and the vast majority is again lost due to panic and FUD.Let's see how high BTC can fly today,8000$ in sight?

Possible. I think the worst is behind us, Bitcoin has reached the lowest value in this dump and now it will start to go up again. Maybe not as fast as we all would like to but patience will be rewarded.
And, yes some have and will make a fortune on this situation, like always. And some will never learn anything out of such situations.

I have to admit I did not expect such quick bounce back above 8000$ level,but many are delighted with such a development of the situation(especially the ones that are bought at the bottom).The situation seems to be pretty stable now,so I guess next target is 9000$ or maybe 10 000$ which would mean a lot in the psychological sense.I just hope price will not go down again,we need a little more positive atmosphere after this for many stressful times.