What's wrong with Bitcoin now?

[jennygamilo]

speculations these days are all over the place from what i am seeing which i believe proves that people are not sure about what will happen, although i have to admit they mostly tend to be positive and predict a rise.

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[Bairbe]

  The crypt is always growing in booms. Even children grow up not gradually, and have several booms. In this regard, bitcoin is no different from children, and the age of the coin is small. Our business is to understand what events will be associated with rapid growth and be bought in advance.

During the boom of cryptocurrencies was a lot and a lot can happen to us. I'll only tell you about the next three.

First boom.
Last year, bitcoin entered the mainstream, and a joyful crowd drove it to the 20K mountain. From this mountain we have rolled down, because, you remember, the rate can not grow all the time, and investors have new questions.

Second boom.
It will come when institutional investors will be able to enter the crypt, that is, soon. We are waiting for them with open arms, the large crypto companies are already preparing wallets, exchanges and various services for INH. It was because of the lack of this infrastructure that bitcoin stopped its last year's flight – those wishing small and medium investors entered, and the institutions did not support them, because they were afraid of the chaos that is happening in the crypto field.

Third boom.
After the large investors come, the crypt will roll back again, because it will face a new question: how widely will it be used in real life? When this issue becomes acute, it is not clear, but the advantages of cryptocurrencies over Fiat are huge and obvious.
So far, the fact that the Fiat system will go away, is hard to believe.
But you will remember at least how far a few years ago seemed online shopping or refusal of cash in favor of Bank cards. Now this is all reality.

These are just the booms that are emerging in the near future. There will be others after transfer of cryptomate to Mars, implantation cryptocell in the brain and then there is still requires the cue ball to the future. But for now we will follow the events that are already close.

[Marlo Stanfield]

What is happening in the Bitcoin world?  What is the near-term price forecast for Bitcoin?

There is nothing wrong with bitcoin and you do not evaluate bitcoin in correspondence to its price because it is meant to be a currency and a mode of transaction rather than a spectacle to gamble with the price and hence you should not evaluate it with the price and think that the price is down because it has some flaws.

Well, so far to me it seems that it's far more suited to be a sort of digital investment asset that has the flexibility to be easily transacted p2p than a day to day currency. It's possible that it could see some usage in frequent transactions, but it seems to be strongly tending towards the asset class rather than the currency class in my opinion.

[vakie1]

Yes, this is all still a game of the whales in cryptocurrency

[yhan2x]

No wrong at bitcoin nowadays, no one can predict what happen on market price even the investors can't do that. So we just wait for their development.

Check news if its right, falls alarm gets the investors panic.

[Abigail Asi]

Nothing is wrong with bitcoin. I think we are creating our own problem when we realize bitcoin price is going down. We should have hope and keep on believing that bitcoin will rise instead of panicking.

[brickafterbrickwalldpt]

People who manipulate the price are the biggest problem here. They want to earn as much money as possible by dumping Bitcoin to lower the price. Unfortunately, cryptocurrencies are still relatively young so people tend to panic easily because they don;t believe in their success. Bitcoin seems to work better than 6 months ago due to growing SegWit adoption and Lightning Network which is still not used by many people but works great. It is a matter of time before investors will start to buy crypto again.

[al maruf]

Bitcoin's name is above all in the virtual currency world. But it is impossible to predict Bitcoin's forecast, maybe the experts may mix or not match, it is just guess. Anyway, Bitcoin will love those who keep their hopes. Bitcoin's price will again reach its target. We have to wait for this.

[berrieswithwine]

I think the biggest problem with bitcoin is that most people don't understand it.

I'm a programmer and a nerd and I don't fully understand it. This is a problem that assumes bitcoin should be a widely adopted currency, used by the mainstream (as I do). This problem is large, but solving it is easy. Most people only need to know how to use it. All currencies are complicated, like dollars, but once you use them a few times it feels like second nature. People will be a bit awkward using bitcoin at first, but they will get the hang of it. Most people don't know how U.S. dollars work either, they just know they can spend them, how to spend them, and if they are lucky, how to make them.

Another big problem is that governments can't control bitcoin like fiat currency. They can't print it up to go fight wars whenever they want (could be a good argument for bitcoin bringing peace). This is a problem because it's made bitcoin even more volatile, made bitcoin out to be a house of cards that the government flick over with one finger. The government is the elephant in the room full of bitcoin.

(It's a good thing there aren't a lot of Americans who know what went down with Chinese QQ coins, because I think they would have even less confidence.)

The infrastructure is super weak, at least for now. People aren't going to give a shit about bitcoin until they can buy their Starbucks with it. With a whole community full of hackers, there doesn't seem to be very many solutions. We should build something like Square (product) that accepts bitcoin credit cards. Or, better yet, skip credit cards altogether and process bitcoin payments from smart phone to smart phone.

I'm not super worried about the weak infrastructure because I can see how much capital is being dumped into building the infrastructure. For example, Coinbase and Bitstamp seemed to spring up overnight. After using Coinbase to buy, sell, and transfer coins, you'd be pretty stupid to ever want to use Wells Fargo or Bank of America's shitty systems. For now, I'm just waiting for the storm of bitcoin infrastructure solutions to hit the market... it's going to be crazy.

[jhache]

So just cause the price of Bitcoin went through a correction means there is something wrong with it? Do you expect the price to always go up and never go down. Bitcoin network is working fine as always and there is no problem with it. Also at this point I don't think anyone can correctly predict whats going to happen with the price of Bitcoin in the coming days.

[FlightyPouch]

Yes, this is all still a game of the whales in cryptocurrency

We don't know that since the price is moving the same as it is in the past, the only difference is that the price at that time is lower than it is now. There is nothing wrong with Bitcoin, if you will be asking me, it is still the way it is. Bitcoin and a lot of other digital currencies are volatile since it is decentralized, no one controls it and that means the price is dependent on the way the market moves.

[Marlo Stanfield]

People who manipulate the price are the biggest problem here. They want to earn as much money as possible by dumping Bitcoin to lower the price. Unfortunately, cryptocurrencies are still relatively young so people tend to panic easily because they don;t believe in their success. Bitcoin seems to work better than 6 months ago due to growing SegWit adoption and Lightning Network which is still not used by many people but works great. It is a matter of time before investors will start to buy crypto again.

I doubt things are as simple as just 'a whale has a big stash that they dump all at once and cause a panic and then buy back in'. The market is big enough with high enough volume that it would take some seriously large and coordinated dumping to have an effect. And even then, the market doesn't necessarily always react the same way. I've seen big dips turn into big rallies just as quick.

[Nakakapagpabagabag]

the end of the year has always been the peak of the glory of cryptocurrency, where the price of each coin will rise sharply
besides Q4, there will be a lot of surprise surprises that can make people panic
and I think this is all still a game of the whales in cryptocurrency

Yes i also believe that the whales are just doing their thing, to harvest bitcoin on the panic seller, so that they can earn big profit when the price of bitcoin increase. And also bitcoin drop price now is also caused by many things, just like its volatility, the ability to change rapidly and unpredictable if it will go higher or lower, and i also believe that what happening on bitcoin now is normal because of its characteristics. I think bitcoin will increase its price again before the year ends. I suggest we just need to wait patiently fo that to happen.

[vonnyaries]

i dont know about the price of bitcoin rught now but i hope it just happen for a short time, and i hope that bitcoin price will rising up soon in the future, some people is make a speculation about bitcoin and they think that bitcoin will rise up from Q3 until the end of they year

[bitfocus]

Nothing is wrong with Bitcoin - just wait up a little

[maminelly]

Expecting something unrealistic in really not a traders way and the price correction we are seeing now is a normal phase to a traded asset online. Obviously when Bitcoin reached at its all time high almost everybody took profit and only some have manage to experience losses. Bitcoin more than doubling its value in just a month made this downtrend long as it maybe is making or waiting for a bigger move....

[mejalipat]

bitcoin prices always change, sometimes rise and suddenly become down again but we should not have to worry and panic with bitcoin prices that continue to decline as it will soon rise again, we should be patient

[Bowly88]

Bitcoin rallied from 5400$ to 19,600$ in just a month, what do you expect that it will still continue to grow to that point on? Expecting something unrealistic in really not a traders way and the price correction we are seeing now is a normal phase to a traded asset online. Obviously when Bitcoin reached at its all time high almost everybody took profit and only some have manage to experience losses. Bitcoin more than doubling its value in just a month made this downtrend long as it maybe is making or waiting for a bigger move.

nothing is actually wrong in bitcoin now. its just that, its going down and up.

[kinamotorami]

there is wrong with the bitcoin... its a trend of the market.. so dont worry and wait when the market will be stablize...

In my opinion, there is nothing wrong with BTC prices now, because the Crypto market is always volatile, they never stabilize the price, so you do not worry too much when the market drops so, in my opinion. In the near future, today BTC price has increased slightly and this is the first step to the growth of the Crypto market.

[Sergey190785]

I think that the price of bitcoin is now specifically held. In a month or two its cost will be released and it will fly to the moon again.