Bitcoin is on a cliff edge.

[Jet Cash]

I want to buy some more, and I've funded my coinbase account. Now all I need to do is to choose the correct moment. I feel that Bitcoin is on a cliff edge, and I'm hanging on to see if it falls over. The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

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[mdayonliner]

I want to buy some more, and I've funded my coinbase account. Now all I need to do is to choose the correct moment. I feel that Bitcoin is on a cliff edge, and I'm hanging on to see if it falls over. The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

When Bitcoin price was $19K+ people were waiting to buy at $15K, when it dropped to $10k people were waiting to buy at $8K, when it dropped to $6k people were waiting to buy at $5k. Now it's around $3,352 and I see people are waiting to buy it at $2K 

I do wish Bitcoin Drops under $2k although I am playing with ETH now.

[dogtana]

I don't know, so many people are saying it may fall to 1500$ or less. It is hard to say if they are just FUDsters and what their real motives are. It is too hard to believe this will all just crash and burn. I didn't have a lot to invest so I basically have nothing to lose if it does, but realistically, it just doesn't seem likely. Bitcoin is just too big.

[Jet Cash]

I don't think there will be an enduring fall, and that Bitcoin must be hovering around the bottom at the moment. I believe that the wales are still trying to shake out the last of the fag (fear and greed ) speculators,so we may see a few longish wicks to the downside before Bitcoin settles in for its next major price rise. These engineered wicks seem to be used as buying opportunities for the wales, and you have to be quick to take advantage of them.

I really want to trade a few hundred pounds worth of crypto so that I can set up the accounting for the Crypto Coin Tree.. I won't short Bitcoin, and I won't use gearing. That way if I make a mistake, then I can just hold the coins until the next bull run.

[Vod]

The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

Bitcoin was new and unique and interesting.  But now there are so many better alternatives.

I think Bitcoin will always be worth something due to a following - but it will never hit the levels it did in the past.

[Jet Cash]

Bitcoin has two big advantages. It is safe in my opinion if you take a mid-term view. It can also be used to buy other speculative cryptos through the smaller exchanges. This means it makes a handy base currency for the project.

[MULTIK888]

The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

Bitcoin is strong and the parachute is always with you, you remember exactly the same mood in 2015?
I think that we are about to reach the extreme point of the fall and this point I see around 2500-3000 dollars. Further-an abyss and danger to lose a network as I am sure that many farms will not begin to work at such price and speed of a network of Hashrate to decrease considerably.
You always want to buy cheaper than the price is today such a mechanism of thoughts, but often the expectation of the best is not in our favor.
For this purpose, the best way to put 2-3 glasses at lower levels (2500, 2800, 3000) and wait for candles with a reverse bounce up!

If I had free money today, I would not hesitate, but filled my wallet with bitcoins, since it is much more dangerous to keep money in altcoins before the turn.

[JetAid]

I agree, and I've been price averaging in a small way as the price descended. I have a feeling that it will move sideways until the second quarter next year, but there are several events that could cause breakouts. I wanted to play with the downside wicks during this period. it's a safety play, and without gearing it is unlikely to make a great deal of profit. It seems to be to be a useful exercise, and will help me to structure some inventory management software. That is is I can find some.

I suspect that any decent wicks will arrive whilst I am asleep though.

[Raja_MBZ]

Toss the coin. If heads, click the buy button; if tails, toss again. Keeping tossing until you get the heads.

Jokes aside, if you've loaded up the fiat in your Coinbase account, I'd personally suggest you go for it and just click on the buy button. There's definitely little room for a further sell-off; however, there's a whole kingdom to take on if we talk about the upside potential.

[Jet Cash]

Toss the coin. If heads, click the buy button; if tails, toss again. Keeping tossing until you get the heads.

Jokes aside, if you've loaded up the fiat in your Coinbase account, I'd personally suggest you go for it and just click on the buy button. There's definitely little room for a further sell-off; however, there's a whole kingdom to take on if we talk about the upside potential.

I agree with everything you said, but where is the fun in that? I enjoy the challenge in trying to make an extra couple of Satoshi from the deal. I'm p'd off that I missed the downside wick last night. I know sleep is bad for wealth creation, and I haven't started to dream about Bitcoin, but I must be getting close.

[Raja_MBZ]

Toss the coin. If heads, click the buy button; if tails, toss again. Keeping tossing until you get the heads.

Jokes aside, if you've loaded up the fiat in your Coinbase account, I'd personally suggest you go for it and just click on the buy button. There's definitely little room for a further sell-off; however, there's a whole kingdom to take on if we talk about the upside potential.

I agree with everything you said, but where is the fun in that? I enjoy the challenge in trying to make an extra couple of Satoshi from the deal. I'm p'd off that I missed the downside wick last night. I know sleep is bad for wealth creation, and I haven't started to dream about Bitcoin, but I must be getting close.

If you really need some extra couple of satoshis from the deal, you should probably look towards some alts. Most of the alts are no longer getting any decline with respect to bitcoin, even when bitcoin's value is going down. Have a look at the following chart of bitcoin's dominance:



It has been in the 53% to 57% range for the last 4 months. Now have a look at the bitcoin's value within the same timeframe:



Seems like the further decline of bitcoin's value in USD is no longer affecting the altcoins' value in BTC. IMO, you should grab some of the nice alts along with bitcoin.

[Jet Cash]

Whilst the majority of alt coins should be avoided, there are certainly some that will become important in the future. I don't believe that any of them will replace Bitcoin, but they will certainly have a role alongside Bitcoin. In fact the reason I wanted to start the Crypto Coin Tree was ro learn about alts, and to explore their structures. It is difficult to purchase them with Sterling, and most exchanges seem to want speculators to use Bitcoin. I took the decision to keep my Bitcoin for a few years, and not to spend any, and that is why I decided to open an alternative wallet with coinbase.

I'm trying to pick up a couple of coins that are given to content producers - namely Steem and Basic Attention Token, and BAT looks to be the most interesting one for me at the moment.

[r1s2g3]

If you want to buy more bitcoin for speculation purpose and already have good amount of bitcoin then I will suggest to wait. Whatever I am reading and my gut feeling (should not be trusted at all but sometime proves too accurate ) that we can reach the level $2000 to $2500 before BTC will actually rebound.


Good new is that, Bitcoin users/bitcoin awareness is increasing every day. Increase adoption/awareness will show it effect on price sooner or later.

[Vod]

Most of the alts are no longer getting any decline with respect to bitcoin, even when bitcoin's value is going down.

One or two does not equal "most".  :/

[cryptohunter]

The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

Bitcoin was new and unique and interesting.  But now there are so many better alternatives.

I think Bitcoin will always be worth something due to a following - but it will never hit the levels it did in the past.

I find this an interesting post.

Can you tell me about the better alternatives and what is better about them.

I am always interested in opinions of those that have been around a while.

[Spendulus]

I want to buy some more, and I've funded my coinbase account. Now all I need to do is to choose the correct moment. I feel that Bitcoin is on a cliff edge, and I'm hanging on to see if it falls over. The problem is that I'm not sure if it is going to grab a hang glider, and soar off up into the blue skies.

Bitcoin was born on a cliff edge and is quite happy living there.

[Jet Cash]

Bitcoin was born on a cliff edge and is quite happy living there.

Are you saying Craig Wright really is Satoshi - isn't he the cliff edge for Bitcoin.

Re: better alternatives. You need to define the purpose. Bitcoin wasn't designed to be a volume payment service for everyday payments. The limits built into it prevent that. However is is a great store of wealth, and it has a great wealth exchange facility. It also allows for supplementary services to exploit this, and the Lightning network in one such service. One of the crypto analysis guys made an interesting point. It would be possible for one Bitcoin to form the asset base for every payment in the world. You would just need to subdivide Satoshis by a few more decimal points. Some of the alternative currencies are being created for specific financial functions, and they may be better and faster for those purposes. Bitcoin is still the best general purpose tool, and nothing else comes close.

[Spendulus]

Bitcoin was born on a cliff edge and is quite happy living there.

Are you saying Craig Wright really is Satoshi - isn't he the cliff edge for Bitcoin. ....

No and no.

Bitcoin has a nature of high volatility since its inception.

[Raja_MBZ]

Most of the alts are no longer getting any decline with respect to bitcoin, even when bitcoin's value is going down.

One or two does not equal "most".  :/

One or two? I think I'd stick with "most".



> Bitcoin's dominance on 14th of September: 56.16%
> Bitcoin's dominance on 11th of December: 55.01%

(even after the BTC/USD decline within the last 3 months, bitcoin's dominance has declined a bit within the same timeframe)

[Spendulus]

....Bitcoin wasn't designed to be a volume payment service for everyday payments. The limits built into it prevent that. However is is a great store of wealth, and it has a great wealth exchange facility. ...

Some might argue that a "great store of wealth" should not have high volatility. But regardless, I do believe that 2018 brought BTC into the mainstream of finance, investment and savings, as a vehicle in the considerations and calculations of wealth.

Some time back, perhaps around 2005, gold became accepted in investment portfolios. It came to be accepted that some percentage, such as 5-10% in hard precious metals, was not unreasonable.

I believe that's where we're headed with "digital gold."