Current Crypto Bloodbath means an opportunity for all
We are currently experiencing the largest selloff and price drop in value for a majority of Crypto currencies for 2017. Bitcoin itself is almost 40% from its high of $2,999.97, reached on Monday. This is a good opportunity for many to "buy in" at a lower price and potentially increase their holdings or earn on the rebound.
One concern however is bitcoin's scaling debate. As this controversy becomes more of an issue, it is getting increasingly more difficult to decide whether to hold onto your bitcoin for fear of a split, or re-invest in alternate currencies until the storm settles.
As outlined by Coindesk
the scaling debate has come back into focus as mining firm Bitmain outlined its "contingency plan." Most notably, the proposal would dedicate mining resources to hard forking the network to a rule set with a larger block size – an upgrade that would likely result in two bitcoin networks and two tradable bitcoin assets.
I for one have sold a lot of my Bitcoin holdings and diversified them into other currencies such as ETH, STEEM (SBD), ZCash, Dash, and LTC. I still hold a few Bitcoin for posterity sake and in the hope of it reaching $5000 USD eventually and then beyond.
Related articles on the scaling debate: Game of Bluffs? With Bitmain Plan, Bitcoin Scaling Becomes Digital 'Missile Crisis'
As the US dollar rebounds, I think this is only a temporary price correction and a way for people to cash out some of their earnings and that we will eventually see an upward recovery and even higher gains.
Hold onto your Steem and other currencies and wait for a rebound!!
What are your thoughts? Are you holding? Selling?
Image Sources: [1] [2]
![[1]](https://regmedia.co.uk/2014/02/25/bitcoin_bloodbath.jpg?x=1200&y=794){kind=link}
![[2]](https://i.ytimg.com/vi/0bIptk3dzEo/hqdefault.jpg){kind=link}
Please let me know what you think in the comments below
What a bloodbath it is, I was shocked to see it still going low last night and then to see it went lower when I woke this morning. Unbelievable is correct. I did buy some late yesterday and even seeing red on it now. I will return and go even higher.
I think it's a good time to buy. At least I hope. I am buying little by little and expect that even though it may continue to go lower that eventually it will return to where it was yesterday and even higher. The train will be leaving soon!!
yeah, if you bought in high and have some cash left you dont need, maybe make a litte rebuy?
Hold what I have and buy as much as I can. 😊
I second that!!
wait further lower price say 1500 usd then buy in
Im buying a little now. FOMO kicking in. If it goes lower I will buy more then as well. Win-Win in the long run either way I assume.
I totally agree, I'm incredibly excited! :)
Another set of Crypto Millionaires to be made soon!!
Absolutely! Full STEEM ahead! :P
And really nice post. I think there is a possibility, that the 40% drop won't be the end. Speculative thoughts predict a fall town to 70 or even 80%.. we will see soon in this fast times ;) followed you btw
Thanks for the Support! yep. possibility for sub $2000 for BTC. The larger the fall the bigger the bounce!!
I think its possible to get below 1500 USD even 1000 USD. But im no specialist and just took a little profit last week. Longtime hold cant be bad. But would be great for me, if there would be another panic, so i could get a bigger buy in :D And you dont have to thank for support, i just look for good content and also try to provide good content ;) get connected
I'll take a look at your posts as well. Im always up for a good read. Currencies seem to be recovering a bit for now. Maybe just a temporary uptick. I think sub $1500 may be too much.
we will see and speak in a few days ;) Longsterm should be save for our vision.
hell yeah it is! I tell people to just buy steem since steem will be the easiest crypto curreny to send inside a videogame! Just give someone your @username and youre good to go! no need to go copy and paste your log BTC or eth address