Is it Game Over for Bitcoin?

[Naster]

There is no reason to see it as GAME OVER for Bitcoin.
We saw it many times in the past, it's not really a new situation.
Take it as ENTRY/BUYING CHANCE 

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[pixie85]

Bitcoin isn't the one that should be blamed for people's greed, because the price in no shape or form reflects the utility of Bitcoin, just people's greed.

It actually surprises me that you bring this up, because when I look at the date you registered your account, you (in case you are still the same account owner) very likely have seen the market tank below $200 back in early 2015. Back then people said it's game over as well, and here we are. It's just another cycle we are going through.

$20,000 versus the various correction scenarios.

80% = $4000
85% = $3000 (my guess based on technical ball analysis)
90% = $2000

We're getting there.

I don't know how you're measuring it but you never measure the bull run from 0 but from its bottom. 2000 would be a 90% correction if we started from 0 in 2017, but we didn't!
Below 800 dollars it was almost flat trading. There was no bull run there and that price should not and is not considered in real TA. Also, the ATH is not 20,000 it's below 19700. However you look at it you're off by 1000 USD.

[jdbtracker]

Hardly it's just another turn in the cycle, a time of introspection as much of the world experiences a lull in spending, may have reached a seasonal low... it always grows in the end; The question is by how much, when?

[cahbagus555]

I dont think its the end of bitcoin. Many good happen in near future and i am believe bitcoin and cryptomarket will recover again. History price teach me that bitcoin price always volatile and always bounce back

[th3nolo]

Prices have been on a constant decline ever since this year began. There's been FUD all over the place, and governments have been cracking down on Bitcoin and other cryptocurrencies. In addition, there have been several hacks which have also contributed to the decline in the value of the whole cryptocurrency market. As such, many people have lost their faith in Bitcoin and cryptocurrencies in general, as they've lost a lot of money.

Despite this, it seems that most holders would not give up on Bitcoin no matter what. But, if Bitcoin keeps declining in value until it becomes worthless, then long-time holders (like me) would become disillusioned. For those who want to protect their investment, there's the option to sell Bitcoin into USD or exchange it towards a stablecoin like Tether. However, even Tether has lost its peg (although in some occasions it heads back to $1) sometime this year, which means that not even stablecoins can be trusted.

Nonetheless, what are your thoughts about this? Will it be Game Over for Bitcoin? Or will everything go back to normal soon?

First of all what's normal for you 20k? if you have Bitcoin since... 600$ or 500$ you would be worried? So.. I don't think you're long-time hodler if you were you would't asking this.

There always has been FUD in this ecosystem since it beginning, Just imagine those people who bought at 10$,20$,30$. they didn't worry itself when bitcoin declined from 1200$ to 100$.

But man to be honest what's normal for you?  that it's the question don't feel bad for the price of bitcoin, Feel bad for you by don't understanding the game of speculation.

[mornabo]

There is no reason to see it as GAME OVER for Bitcoin.
We saw it many times in the past, it's not really a new situation.
Take it as ENTRY/BUYING CHANCE 

Don't listen to it, it's only the FUD to see the condition of the price lower and they want to go back to buy in large quantities. keep calm and hold your bitcoin, bitcoin will not become worhtless, use your logic, with millions of users currently it is impossible for demand to be zero, wait until the price improves, it will definitely happen, this is not the end of bitcoin

[blackhawkeye1912]

Bitcoin will surely rise again, though it's not going to happen this year. The market needs to recover first before making the bull run. Hopes are very high for bitcoin because of its blockchain technology backing up.

[mrcash02]

This situation is very shady yet to have a final conclusion. There aren't real evidences of the reason why Bitcoin started falling so fast. We can take the conclusion the price keeps falling because panic selling, but the primary cause that generated the consequence (panic selling) is unknown.

Anyway it's a worrying situation. The whole Crypto market lost billions of dollars in few days!

[alyssa85]

Why game over? Btc price in 2016 was just $500-600

This. And don't forget the horrible bear market from 2014 to 2016. That was truly painful, this is nothing in comparison.

I do think the fee problem last Dec and the delays in stuff getting confirmed damaged bitcoin. But lots of exchanges have got their act together since then, batching transactions and using the lightning network and so on. Bitcoin just needs to work on adoption instead of being merely used for speculation.

[liansehao]

There are so many prediction about the price of bitcoin out there but you should not be affected by the bad news about bitcoin. Bitcoin is not easy to die.

[maydna]

I don't think it's a game over for bitcoin because I am still sure that bitcoin will rise and the price will be back to the high rate again. We are now in hard situations, but we still have another option to buy more, to sell and wait another low price to buy again, or even hold the bitcoin until the price increase. And if you are a long-term holder and you can buy bitcoin when the price is at $200-$600, then I don't think that you should be worried because I am sure that in the last year, you can make a lot of money from bitcoin. But still, it's your option, and you need to think about what you want to do later.

[Farahtenan]

I think the bitcoin game is ongoing and will continue so it hasn't ended because many coins want to replace their position.
Bitcoin still survives and will be very strong after this.

[Valhalaa]

no i thought this is not over yet ,
because in 2017 bitcoin prices still little bit high then all time low 2018
about $1000 at 2017 , now stil $4,400
i think this is chanche to buy but you cant buy a lot , but step by step

[uelque]

When I see questions like this what comes to my mind is the prediction of a certain "time traveller" from the future who posted in reddit, if I am not  mistaken. 
He says that bitcoin price every year increases by a factor of ten. Yet he was right, right? So I don't believe that it's already game over. Remain calm and patient because this is just another ride we need to enjoy.

[Tahir460pk]

Very difficult situation nowadays as market drop down again and now below 5K many people's who hold and waiting are much panic as again conditions change what can be say if nothing than sold otherwise wait game not over still.

[ScottyT]

Be brave when everyone is scared!

[Aramazdi]

Why game over? Btc price in 2016 was just $500-600

very many people have negative thoughts, are they not aware of the technological developments that are happening, indeed unstable prices always make traders confused, but we must always think forward, bitcoin is the currency that is increasingly needed, prices will be higher but if everyone no longer needs, bitcoin will end, we can examine how the world community is fighting bitcoin, I think the needs of various countries are increasing, showing that bitcoin is still very much needed so that in the future bitcoin can become an alternative currency in the world.

[Janation]

There are so many prediction about the price of bitcoin out there but you should not be affected by the bad news about bitcoin. Bitcoin is not easy to die.

Some people might say that it is hard to die, but if you will be thinking of it, it is actually kind of easy.

A lot of people are growing bored of Bitcoin these days since the price of it is not that far now from the first months. The year's closing is nearing and the Bitcoin price pump that a lot of people are waiting is still not happening and instead the price of Bitcoin is now dumping, more reason why a lot of people starts worrying now. I don't know what may happen but all I know is that Bitcoin is having a great dump movement right now with the price of $6000 and today it is just at $4336.

[velive08]

for this price problem is the worst price for bitcoin this year. but believe me this will happen in some time and it can certainly be used as one of the moments to buy in large quantities and we can be sure if bitcoin will rise and will not be game over

[Barcode_]

Prices have been on a constant decline ever since this year began. There's been FUD all over the place, and governments have been cracking down on Bitcoin and other cryptocurrencies. In addition, there have been several hacks which have also contributed to the decline in the value of the whole cryptocurrency market. As such, many people have lost their faith in Bitcoin and cryptocurrencies in general, as they've lost a lot of money.

Despite this, it seems that most holders would not give up on Bitcoin no matter what. But, if Bitcoin keeps declining in value until it becomes worthless, then long-time holders (like me) would become disillusioned. For those who want to protect their investment, there's the option to sell Bitcoin into USD or exchange it towards a stablecoin like Tether. However, even Tether has lost its peg (although in some occasions it heads back to $1) sometime this year, which means that not even stablecoins can be trusted.

Nonetheless, what are your thoughts about this? Will it be Game Over for Bitcoin? Or will everything go back to normal soon?

In my opinion, exchanging bitcoin into Tether would still result in a loss for investors at the end of the day, and I think that is not a good solution for investors who wish to minimize their losses, it is a difficult period for crypto-currencies investors to endure at the moment, but I still believe the best option for investors to do now is to keep on holding their crypto-currencies in their wallets.