I don’t know if you’ve been paying attention but it’s clearly not done going down.
Well those who bought it at 7k last month are still losing money…
No, it’s not.
In February 2019 Mt.Gox will release 170,000 Bitcoins to its ex-customers and debtors. The price will probably go down to as low as $2,000-$2,500.
It’s corrupted by futures manipulators now. Buy the deep dips and sell after about 5-7% gains wait a week and repeat.
Except luckily no one has to say this, as we all followed the advice repeated at every turn saying “don’t buy more than you can afford to lose”. Obviously.
How is this post “not about price?”
If only I had ANY money! The only investment I have left is the couple of Bitcoins I kept for laughs, to keep a token amount in the game! Might cover the cost of my funeral, otherwise I’m just filling a black hole of debt now. I’m not alone. It’s the death of the American middle class.
I bought and it started crashing -_-
That only means it will go up by tomorrow.
Simple solution: Set up autobuys around $50 a month then cash out when you decide to make a down payment on a house.
I only pay attention to the current price with passing interest now. Much nicer this way.
Bitcoin hits 3.5k
“I wish I would have sold my Bitcoin when it was 7k.”
“Sell what’s hot, buy what’s not”, but don’t mix it up!
Newbies top-tick the high, and bottom-tick the low.
Psychology of markets don’t change, just the people do as they blow out their trading accounts.
I’d be averaging in, you’ve got less than 4 million coins left to be distributed, with a horde of investment firms and banks looking to get a piece of the profit pie.
*(In terms of service fees and packaging it to their customers.)*
Add in the inherent deflationary aspect, and you’d be nuts not to have some exposure to the biggest CALL option in existence.
Oh, and it doesn’t correlate to equity markets, so its a decent hedge against index meltdowns.
Except this time I see it and BTC isn’t working well as a currency. I’ve stopped taking it. It’s too slow.
So Tru !!!
No it’s not. If you get in now then at $4500 you’re going to freak the fark out and sell. Bitcoin is no longer popular or will ever hit $8,000 again. I know this hard to swallow when you’ve drank the kool aid for so long. Common sense shows 2018 is the deathknell. Crypto is dead.
Half the posts on this sub are nonsense. People didnt want to buy at 7k just because they like bitcoin, they wanted to have bought then to generate profit given it was currently at a higher price; and obvious and meaningless whim. It’s like saying oh, I wish I invented bitcoin. At the present time, there is no garruntee we will ever see the same sorts of gains. This statement will be shutdown as anti bitcoin or something- but that’s because so many crypto advocates are basically religious about their crypto- meaning they have belief about things despite a lack of or contrary evidence. Past price movements do not constitute evidence.
I love the tech behind bitcoin and have owned the stuff, but if someone were to tell me I was doing something in the face of opposing evidence I would ALWAYS listen to them and try to think critically about my views.
People are using how they felt at a particular price point as a motivation to buy or sell an asset which will have real consequences on their hard earned money. This is insanity. Imho, bitcoin has already had its major public discovery by mass media, which resulted in the 2017/18 boom and bust. This cannot happen again in the same way so something else like significant increase in use would need to happen to see a price moon.
I wish I had a computer that could mine crypto without burning up too much.
BC is going to Ten K in the next week.
There is minimal value
I just read a post that mathematically proved bitcoin will be $100M by 2030. I guess that’s a no brainer then, sell your house and get in. 😀
Bitcoin hits 18k
“I wish I had 18k”
Bitcoin drops to 7k
“I wish I had 7k”
People always asked me if now is the time to buy. I never give advice to them. Now, I wouldn’t mind saying, is a good time to start the DCA. Whatever your budget permits. Enjoy the ride gunslingers, this is the wild west. yeeee haaaww
What is really meant by “I wish I bought at 7k” is “I wish I could go back in time and buy at 7k so I could have guaranteed profits now”.
Nobody fomo’s at the bottom. Nobody panic sells at the top.
Well, if you had bought at 7k and sold at 19k, you’d be very rich. So the first two sentences are correct.
When people saw it crash back down, people realized it wasnt very stable and their confidence in it went away. They realized even if they bought now at 7k, it might not go to 19k again. So the 3rd and 4th sentences make sense too.
All the statements were fair when they were said.
I have a feeling BTC will go very deep. It rallied on people not thinking about its pitfalls or any of the sorts. People just kept buying because it was going up.
I suspect its going back to $1-2k, and if people still want to hold and use it, maybe it will recover.
One of the most important things to keep an eye on is the fee market. If there is no fee market there will be no fees for miners and thus little to no hashrate. So only if a fee-market develops and is sustained, then i think people will feel comfortable buying it again. Its a precarious situation because how can a fee market develop? It seems people will just use cheaper alternatives, so imo. right now fundamentals are bad. That being said i am by no means an expert, and if someone has a better thesis im all ears.
I agree it is a good time to begin buying on a monthly basis if you don’t have enough weight in BTC.
Its actually better to get in a reputable alt coin at this time. Youll make much more profits off an altcoin when bitcoin goes back up.
Yeah, I didn’t believe them either! But who knows because it takes a lot of dedicated little guys to override a general wave of selling
Your email address will not be published.