quickie69 (OP)
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March 26, 2018, 11:45:42 PM |
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I want crypto to succeed. I'm not a hater. I am highly exposed and continue to hodl. There's nothing I'd like more than to open Binance to a sea of green rocketships flying me to a moonlambo. But.... I just can't understand who would buy bitcoin, or who would think bitcoin's price is going to appreciate at the moment other than the people who already own bitcoin. If I wasn't already in it, I don't think there's any shot I'd touch it with a 10 foot pole right now after watching what's gone on over the last few months. And the entire market depends on Bitcoin. What new money is going to come into the market and drive up prices? The entire world knows this is a speculation bubble and right now it seems like the odds of losing 50% of your money are as good or better than the odds of making 50%. Cryptocurrency is way too risky of an asset for the vast majority of people, and they see it as akin to gambling more so than an opportunity to get in early on the next big thing. Every meme line drawing TA guy who is convinced Bitcoin is about to enter a new bull market is blatantly ignoring the macro issues that are in play here. Until some working products/ecosystems come out and can demonstrate some fundamental value, significant amounts of new money aren't going to come into this market. The run was based entirely on hype, and the hype is completely gone for the foreseeable future. It's going to take many more months, or possibly a year or more, for money to start coming back in - and it's going to be a slow march of a rise. We'll never see a parabolic rise in the cryptocurrency markets again. I'd love to be wrong. By all means, convince me I'm wrong. But my faith and morale has essentially hit rock bottom. Each time BTC pumps then fails, alts bleed out even lower than the previous cycle. And I just can't see an end in sight. If you truly believe crypto is going to enter an unprecedented bull run in the near term - what am I missing? What do I have wrong here? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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shinratensei_
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March 26, 2018, 11:55:19 PM Merited by limmousine (1) |
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I want crypto to succeed. I'm not a hater. I am highly exposed and continue to hodl. There's nothing I'd like more than to open Binance to a sea of green rocketships flying me to a moonlambo. But.... I just can't understand who would buy bitcoin, or who would think bitcoin's price is going to appreciate at the moment other than the people who already own bitcoin. If I wasn't already in it, I don't think there's any shot I'd touch it with a 10 foot pole right now after watching what's gone on over the last few months. And the entire market depends on Bitcoin. What new money is going to come into the market and drive up prices? The entire world knows this is a speculation bubble and right now it seems like the odds of losing 50% of your money are as good or better than the odds of making 50%. Cryptocurrency is way too risky of an asset for the vast majority of people, and they see it as akin to gambling more so than an opportunity to get in early on the next big thing. Every meme line drawing TA guy who is convinced Bitcoin is about to enter a new bull market is blatantly ignoring the macro issues that are in play here. Until some working products/ecosystems come out and can demonstrate some fundamental value, significant amounts of new money aren't going to come into this market. The run was based entirely on hype, and the hype is completely gone for the foreseeable future. It's going to take many more months, or possibly a year or more, for money to start coming back in - and it's going to be a slow march of a rise. We'll never see a parabolic rise in the cryptocurrency markets again. I'd love to be wrong. By all means, convince me I'm wrong. But my faith and morale has essentially hit rock bottom. Each time BTC pumps then fails, alts bleed out even lower than the previous cycle. And I just can't see an end in sight. If you truly believe crypto is going to enter an unprecedented bull run in the near term - what am I missing? What do I have wrong here? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) I don't even think like you dude. In fact, the products don't matter a lot to affect the crypto trend. I remember the bearish and bullish trend has driven by the whale. Even the fake rumour gives a lot of impact on the crypto market which it doesn't make sense for me to see that. Bullish is a must. But if you include on the early adopters and you won't see when bitcoin price was $100. We are still in the battle with regulators. France aims to become ico hub country after Singapore. A lot of industries starting to consider crypto as a future development.
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m.vina
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March 27, 2018, 12:15:47 AM |
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I believe your post reflects how majority of the people holding bitcoin feel right now, even if most won't care to admit it.
One thing that keeps me going is how everyday more and more "products/ecosystems" are starting to use crypto (especially bitcoin and ethereum). They may be small networks or groups of users but eventually, when we have so many those groups, it will build up to something the world can't ignore. So yes you are right in saying that the bear market may extend, but in the end, there is always the opportunity for bitcoin/crypto to explode once again.
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Rkoshay
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March 27, 2018, 12:32:49 AM |
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What would help would be if there was a way for those of us interested in cryptocurrency but not technically inclined to be able to incorporate it into our lives, to be able to buy and sell stuff that we use, to use it in some fashion besides speculation and online gambling. I think it would help it to gain traction and would increase the popularity of it.
I do think that really, from looking at the charts, that it is still a bit overpriced and I think it's a testimony to it that it's maintained so much value after the astronomical run it had at the end of last year.
I love the concept of it and want to participate in it more, just need to find a practical way to do so and I imagine there's millions more like me out there.
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limmousine
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March 27, 2018, 02:56:33 AM |
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nowadays everyone is sad when they see their portfolio, panicked and worried that their assets have run out. but this does not end there if we think about it every day. think optimistically, look at the graph from the year before and the potential of crypto is still very big, we are just starting and the journey is still far away. remember, everyone wishes the best for crypto.
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removebeforeflight
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March 27, 2018, 03:30:36 AM |
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Crypto currency market is always volatile, the price fluctuations is common and bitcoin price currently doesn't alarm but it is trending in a healthy way like just 10% to 20% ups and down swinging in that rate. If you campare last year same period price Bitcoin is almost x8 times higher and the current price trend or any period trend may be due to many reasons and we cannot assume one common reason for that.
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Wechsler
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March 27, 2018, 03:57:05 AM |
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I'm not too sure about the time line. But in my opinion at least until May, how low? I do not know either. What I know is that bad news (even binance) seems to drive the price lower, but good news, has not effect. So given that this is the current trend on fundamentals, I look to TA and see the 200 MA crossing the 50 MA, plus btc's chart looks really bad on ichimoku clouds. But TA only goes so far as to outline what phase of the market is nigh; and can't predict when that will turn.
However, I know the heavy manipulation on btc, and this might be just a ruse to get people to sell off.
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yndye
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March 27, 2018, 04:14:25 AM |
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Seeing our portfolio bleeding makes us more disappointed and I think many people are feeling the same as you are. Every time someone says the bull run is coming, along the way it retreats and go down again which is frustrating because it has given us false hope. One thing I realized though during this bear market is to take losses so that I would be able to trade continuously. I think this bear market would be over sooner than you think. There would be a bull run this year. Just think of the market cycle and the emotions involved with it. It seems that many are fearful now so it is time to buy more because the bull may come before you will be able to buy more.
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jaygilly10
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March 27, 2018, 04:21:24 AM |
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Invest in utility tokens, platform tokens, companies that actually have working products/platforms. Invest in companies that are using blockchain to solve real-world issues that million and billion-dollar companies are trying to find solutions for. Invest in tokens that will actually have value because they're tied to platforms that make it so that users cannot utilize the platforms without the tokens. These are the companies/tokens that will survive into the future because successful companies/industries will find value in them. Many of the actual crypto CURRENCIES will not survive. The companies that are utilizing blockchain technology to solve current issues are the ones that will be around regardless of whether or not governments "ban" cryptocurrencies. That's always been my approach to investing in the cryptocurrency market. The market will bounce back. Just make sure you're holding more utility tokens than actual cryptoCURRENCIES.
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jitenrajput
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March 27, 2018, 04:26:42 AM |
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Well, not a year or more. But a few more months from now. There are larger than life hopes by people and technocrats that the cryptocurrency market is to gain some momentum by the end of the year. It is a good time to get in as rates are an all-time low.
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mattbellme
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March 27, 2018, 04:40:20 AM |
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Interesting times though as we have 21 trillion dollars of debt with governments spending more and more.
It's like the perfect situation for bitcoin to thrive.
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FomoATH
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March 27, 2018, 06:29:18 AM |
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The development of cryptography continues and I hope that we will see its turnover in everyday life, at least in payment terminals. Then you can forget about all these bear indicators and enjoy growth with minor corrections. Well, now we just tolerate and predict that everything will end this year and finally our losses will stop.
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quality.crypto
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March 27, 2018, 06:42:57 AM |
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nowadays everyone is sad when they see their portfolio, panicked and worried that their assets have run out. but this does not end there if we think about it every day. think optimistically, look at the graph from the year before and the potential of crypto is still very big, we are just starting and the journey is still far away. remember, everyone wishes the best for crypto.
Right! most of the people are panic about the present situation of the market, we have to be a game changer because when the market is up we have to sell and when the market is down we have to buy. When compared to previous years graphs, already the price is very high in the market.
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NeuroticFish
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March 27, 2018, 06:44:47 AM |
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I want crypto to succeed. I'm not a hater. I am highly exposed and continue to hodl. There's nothing I'd like more than to open Binance to a sea of green rocketships flying me to a moonlambo.
But....
I just can't understand who would buy bitcoin
Crypto cards start working again. China may unban ICO. LN looks good. SegWit works. The network is free from spam. There are plenty of good news, showing that Bitcoin is actually doing very good. People with money see this and many will invest in this working ecosystem. Or will store part of their wealth in this. In many such aspects Bitcoin is better than banks. They are waiting for the best time to "get in", but don't worry, they do come. It's too many good news around and they won't miss the opportunity. So I know "who" is buying Bitcoin. Unfortunately some of these are very big and know how to manipulate an unregulated market.
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disconnectme
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March 27, 2018, 09:17:03 AM |
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I think we should be prepared for a long time, it seems winter here, and the market could go down than we initial anticipated for. The way I see it is that alot of people have been disappointed with the way think went and have taken their loss and are leaving the space. I will not say when this will turn around but we just need to prepare for the unexpected
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Ewox
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March 27, 2018, 10:19:22 AM |
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I get your point here OP and I’m beginning to think thay the bear market may extend to a year or two because of how things are going with bitcoin and also other cryptocurrencies. As what most people would say, bitcoin and most cryptocurrencies are volatile aomlet’s just expect the unexpected and see how things will work out on the second quarter of the year.
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