Crypto Black-Friday

[BitHodler]

Crypto currencies, even Bitcoin, can go way lower than anyone here can even imagine. What's the underlying value of Bitcoin for people who are currently selling it, and for those who plan to sell soon? It has none.

It was nothing more than a bet for them. Some won, more lost, and a large percentage of those who lost did so in a very ugly manner. This is a horrible side of crypto, because it doesn't signal it is user friendly, nor is it ready for use.

Dollar cost averaging your entry points is the only way to handle a market that doesn't allow itself to be timed. The lower the price is, the larger the amounts should be when buying into the market at this point.

Nothing goes up for ever and nothing goes down for ever--eventually your patience will pay off.

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[pooya87]

just because something is cheaper it doesn't mean they are cheap!

most of these altcoins are still extremely overvalued which means they have to continue getting dumped more to reach their real value let alone be considered a goo buying opportunity.

The statement that these coins are "extremely overvalued" in my opinion is very tough.
I look only at the demand and supply, and as for me the price that we see now is the right one.
I would seriously like to ask you how you calculated the value of these coins?

based on the type of their demand.
the demand for bitcoin is speculators but also all those who seek freedom with a decentralized and censorship resistant currency. and bitcoin already has a lot of merchant adoption.
the demand for altcoins is speculators but nothing else. that is what makes them overvalued. not to mention that their rise was because of pumps not real increase in value.

[eminemcookie]

just because something is cheaper it doesn't mean they are cheap!

most of these altcoins are still extremely overvalued which means they have to continue getting dumped more to reach their real value let alone be considered a goo buying opportunity.

The statement that these coins are "extremely overvalued" in my opinion is very tough.
I look only at the demand and supply, and as for me the price that we see now is the right one.
I would seriously like to ask you how you calculated the value of these coins?

based on the type of their demand.
the demand for bitcoin is speculators but also all those who seek freedom with a decentralized and censorship resistant currency. and bitcoin already has a lot of merchant adoption.
the demand for altcoins is speculators but nothing else. that is what makes them overvalued. not to mention that their rise was because of pumps not real increase in value.

Over-valued based on what? Their current usability and state of adoption - of course. Their future potential - i'm not so sure. Think of it like in sports where sports clubs pay lots of money for young players, at the time they pay for them they're getting bad value because they're not worthy of that fee just yet, but they're investing in potential and have to pay over the current value to receive that.