[ Bitcoin Price ] Is the crash over or has it just started?
Bitcoin had a dramatic up run from beginning of Dec 2017 when it was $9885 all the way to $19187 on Bitstamp. This was great times, but in the last couple of weeks we have given it all back.
We are at $9968 as I am writing this blog post after falling to $9299 earlier. Bitcoin is very very volatile now.
At $10000 I think bitcoin is a bargain, but what if we do fall lower. Will I miss an opportunity to buy it even lower? Haejin thinks you should buy on every dip all the way down. This makes sense because say you are waiting for a new low and it never comes and we shoot up to $19000 again? You would have lost the opportunity we are currenly in.
I have bought more bitcoin at $10000, but if it goes lower I will buy even more.
Technical analysist Haejin Lee has changed his view from 3 possible outcomes to only one. And that is a price of $7227. So we have more of the same to come.
Here is the detailed view of Haejin Lee’s:
Crypto Investor is thinking we are going to see lower prices then the current $9870. He is eying $8300 and his video below he explains why.
Here is the detailed view of Crypto Investor:
In times of these I focus on cloud mining and Steemit mining by adding content and earning Steem from Steemit. We don’t know what the price will be tomorrow, but we have more control from earning from our efforts on Steemit.
Please comment below with your thoughts on Bitcoin price? How low can it go?
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Nice post and topic.
It is hard to say what will happen, because the coin value is only based on trading and marked expectations.
I read a raw material analyst/ trader view. He said he has no problem seeing Bitcoin going to 100.000 in the future. But in 2018 he predicts it to about 3500-4000.
He based it on the fact that mining and trading is so costly due to the electricity being used, that you cannot defend the coin at more value now.
In the future as the we reach the max numbers of coins, the value will rise again. Then mining will stop, and trading will drive the price up. THAT IS ONLY, if people still wanna buy it.
I think the main thing for cryptos now is to find a way to use the currency at minimal cost and transaction time. And I believe the "beds are burning". So it will need to happen fast, or marked trust will fall even more.
My advise would be diversify investments in different cryptos!
Too much negativity with bitcoin. When I cashed out it cost me almost 75 bux to send it to the exchange. Not bad imho but compared to say ethereum it was a lot and it was relatively slow. Eth was only a 65 cents and the transaction was competed and confirmed within several minutes. Btc took around 40 minutes. Again, not bad but compared to others it’s not so great. Plus the electricity consumption problem. The Chinese miners consolidation. China government possible crackdown. Possible tether fraud. Bit connect (yeah it’s not crypto per se but close enough) Just things don’t look good even if lightning and atomic swaps kicked in. Everything is falling, tho, not just bitcoin. The bubble is popping and more often than not these things take years to recover from.
There has been too much speculation I agree. When people take up loans on their houses to finance trading the sign should read: Bubble.
But cryptos will be a part of the future trading and monetary system. Will regular people be able to take part or will the old money take over that marked.
Questions, questions, questions- answers are not here yet. ( I think Yoda said that :-) )
Solid views @idigit. Scary thought, but we have seen anything is possible with bitcoin.
One have to look at the short and long run at the same time. Bitcoin is just one crypto. Don't put all the money in only one basket.
By diversifying one could hold som Bitcoin, some other cryptos and a healthy wallet for trading at the same time. I think that will be the key to thriving in the crypto marked long term.
Good luck all!
I think this is just the beginning. These bankers have been pumping crypto to ridiculous highs since they planned their futures rigging and the Asians are selling for their new year. I don’t want to say it but imho this is just the beginning.
Scary thought @dhn0411
I would really like to go in more but Kraken still holds my deposit. :(
Hope you get sorted soon @tallfishinthesea
Thanks @colinbranzendale. I totally agree with you. Now is the time to buy and stack your bitcoins. A new high is not very far from now. It will happen sooner than we anticipate. I think once it reaches $8000 mark, it will start rising again in a day or two to the new high before the next correction. Cheers!
Hi @hungryhustle, I think we will know soon whether we are going to $8000 or not.
10000 in just months is very much high so what to do next. And how sure is the next 10000 to stay upfloot. It might get to 1000 or less. Nothing for sure
Yes, @dawitnet these are uncertain times for sure.
I have heard of predictions of 13 000 in the end of feb and the next crash at 60 000. The source i have heard was quite accurate in the past. I was told ;)