The World of Cryptocurrency - Bitcoin is Gaining Ground

in #bitcoin4 years ago (edited)

Just last week, there was sudden crashed of bitcoin from its $7.7k+ high mark fell down to almost $5.5k and that's 28.60% drop. Many of our fellow "cryptonians" freaked out and worried on their bitcoin investment. The "anti-bitcoin" were shouting on the web that this is the end of bitcoin, the great ponzi scam falls down & etc. There were many speculations that flooding on the web on why the bitcoin drops rapidly - some said the segwit 2X was not canceled and its the reason why bitcoin dropped, other said its the bitcoin bubble correction. But whatever the reason is, I see it in a positive way and take advantage of its low price and bought some bitcoins and wait for it to rise again and surpass its highest mark last week of $7,700+.

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Currently, Bitcoin is starting to skyrocket again and crossing the $7,400 mark (as of I write this article) and for those who took advantage of its low price last week would be happy to see this. I bought some bitcoins and hoping that soon it will rise again - that time is now, we see it rising again. There were experts predicted that bitcoin will hit $10,000 mark before 2017 ends and this is a very good news for us who invested in it.

Aside from this bitcoin investment, it's very mouth-watering also to invest in ICO's. We will just choose the right ICO to invest and do our research before throwing our precious $$$ into the pot. My only reminder is that "Invest in the amount which you can afford to lose". ICO's is a high-risk investment but if we hit the right ball for a home run then we will reap a huge payday. My previous article discussed on which ICO that is worth investing this November 2017 - The World of Cryptocurrency - ICO's


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I am pretty certain this will keep going, there's so much energy in this upward swing from the sudden snarp jolt BCash caused that when it snapped back there's more force than in September when we dipped to $2800 before moving up to +$5/6/7k. Except this time instead of fear about the price being too high, we got the sudden awareness of our own mortality and now it's like we're triumphant where the higher we go the more victorious we feel.

I made this earlier.

Note that on the 1 Day chart the gain this past week since the BCash crash hasn't even been enough to counter the crash to even register green! :O

This is the 12 hour chart right now.
This is the 6 hour chart right now.

There's so much power here I think the BCash event sling-shotted market sentiment so far the other direction I think it would take something huge to stop it now.

It's possible we are seeing another watershed moment like earlier in the year, which also coincided with alts doing exactly what they're doing now having completed their cycles many of which ave taken many months and are about to go up another giant wave imminently.... Some had to reset a little when Bitcoin broke a level of resistance, like Neo Ethereum and Dash. Lumens was literally about to go but it's suffered far less by the looks of it and I think it will happen very soon. OMG has less history to go on but that too looks like it's almost there...You can see it's begun with Lisk ...
Doge will be incredible...

That was brilliant observation buddy. Every coin having their own waves either up or down but one thing is certain for bitcoin - it continuous rising, it may drop for a time but still it recovers and continue rising. As what we've seen it now, it makes another highest mark so far beating its previous record.

Yeah it does!!

What is at the origin of this sudden and unexpected peak? Daniel Masters, director at Global Advisers Bitcoin Investment Fund, accused Korean traders of "market manipulation" via the Bithumb stock exchange and appealed to his LinkedIn relations to complain to the Korean financial supervisory authority:
It hit its all-time low of $ 5,426.00 on Sunday, its lowest since October 25, down nearly 32% from its peak of $ 7,888 on Wednesday.
Of course, Bitcoin is known for trading volatility and it tends to rebound quickly. It seems however that Bitcoin Cash is in competition with its motto "mother" in the stakes of volatility.
Trace Schmeltz, a partner at the Barnes & Thornburg LLP offices in Chicago and Washington, DC, a cryptocurrency observer, notes that it is not surprising that Bitcoin Cash is making rapid progress:
@tighilt

Bitcoin Cash is really killing it over last couple of days. Literally. BS coin heading towards obscurity.

Wow, thats a very good information. Is it South or North Korea who made the sudden movement of bitcoin? its good to know this things coz we are investing our precious $$$ in here.

The Democratic People's Republic of Korea, located in the northern half of the Korean Peninsula, is a socialist paradise which only has enough electricity to light up its capital, Pyongyang.


Korean Peninsula at night, CC--BY-SA Roman Harak

The people of North Korea have loftier goals than playing with bitcoin

CC--BY Mark Fahey

Bitcoin's price manipulation must have originated in the capitalist hell to the south! /sarc

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hahahahahahahahahaha

Hehehehehhehe 😄

good post. keep it up

Nice post. I think to BTC will hit $10,000 mark before 2017 ends.

Upvote + Resteem

I think it will exceed it...

BCash sent Bitcoin straight up.

I Agree with that buddy. As we can see btc now is skyrocketing again :)

Yes, the main thing to know how to choose the right time to invest

The volatility of Bitcoin makes understandable these variations in price. Last August people got scared when Bitcoin dropped significantly. And people rushed to sell.

Patterns show that when Bitcoin takes dip, then it comes back and breaks resistance. This is not a selling time. This is a time to get Bitcoins and hold them. The price has not yet reached its maximum potential.

And all the bad rumors only give Bitcoin more gas to continue scaling. What we must understand here is that everyone have their own agenda. Some people still call Bitcoin scam because they either want the price to go down and get some coins or they have invested in other altcoins and are trying to play their game.

Anyway, Bitcoin can resist all this bad publicity because what gives it power is the community. And it will remain solid as long as more people trust in it.

The most probably scenario is that Bitcoin will break through at least above 8K by New Year's Eve.

As we had observed that bitcoin has its pattern - after it drops significantly, it suddenly skyrocket and surpassing its previous highest mark. In this case if it will drop again then we will buy bitcoin hoping that it will rise again 😄

i know what all countries thing about bitcoin, they take bitcoin as a risky thing for their economy , it may reduce economic growth , lots of fraud ico and scam sites , anoymity of the users while transacting bitcoins , illegal activities and transaction via bitcoin , there are the major issues according to all countries(except some countries) .

According to my opinion, there must be a new technology implemented , which is, on transaction id there should be shown two identities of receiver and sender , there must be shown receiver's and sender's details(their name their address exactly on the kyc documents)

That's a very good proposal to prevent illegal transactions and we can identify directly who's the who in the platform. Currently, there are thousands of ICO sprouting all over the web and its very difficult to identify which is the real & the scam. For now, all we do is thorough research and look for the real jewel among the thorns :)

uniquely true, this will create certain security and filtration. And in occasion of suspicious ICO's, their quantity grows every day and it scares me

😍A very informative post. Great job. Keep it up! 😍
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BTC investors should have faith in the long term viability of Bitcoin and stop getting emotional over its short term volatility.

Yup, thats true. But most of our fellow investors sudden freaked out when btc dropped its price. Cryptocurrency will reign the economy soon and all of us will be the winner :)

This makes the « pump and dump », when it exists, even more effective, and it is a cruel thing to learn for the noobies in crypto trading…

Few months ago bitcoin was on $2000. And lot of people said that bitcoin could raise up to $10 000 by the end of the year. I was skeptic and I didn't belive it. Well look at bitcoin now.

Dont worry buddy, youre not alone of being skeptic - count me in, lol 😅

Great posr

I agree with you @elizahfhaye ; but you should be careful with your investments in Bitcoin, better bet on Bitcoin Cash, I think it will be the cryptocurrency that will increase the price. Yesterday I did a predictive analysis on Bitcoin. Unfortunately it is in Spanish, but I leave the link in case you want to translate it into english and read it. regards: https://steemit.com/miercolesanalitico/@josevasquez/trampas-del-bitcoin ... Here It is in English: https://steemit.com/miercolesanalitico/@josevasquez/bitcoin-traps

Thanks for your advice @josevasquez it somehow gives light on me about BCH. Honestly, i do only bitcoin and some ICO's. :)

Fluctuations are normal. This is something that differentiates a ponzi scheme from an asset that is traded on a market.

BTC price is determined by supply & demand, so any shifts here can cause a change in BTC value.

Yup, i totally agree with you. But those who are antagonist about bitcoin will not see any good on bitcoin. All they see is ponzi scam 🤣

Totally agree, when it hit 5600 a close friend of mine said don't buy anything yet, wait till it's 4000$... i told him no way and bought at 5100$ and a few days later here we are at 7800$ glad i didn't listen !!

Congratulations on that great decision of yours buddy - we both hit the mark! :)

It will take just one FUDster to knock BTC for six. Because it has no intrinsic value (like gold!) it relies on positive spin being lapped up by sheep looking for a fast buck. Yeah, it will rise and rise (mooning?). But there will be a market correction...some day. So make sure you have an exit strategy!

I see the comparison. One strong FUD story about gold and it will drop from $1300 down to 50 cents

Make sure you have your exit strategy prepared for the FUD that could come and hit gold

Errrr .... that doesn't really sound plausible.

So your analysis of what will drive BTC down into the cellar seems correspondingly insightful

It is best to invest now in bitcoin and whatever we got from it - the profit, earning & etc will be invested in tangible things so that whatever happens to btc at least we have already something to look back.

Very informative. Thank you for sharing :)

I also believe that it will hit 10k or at least 9k before this year ends

Great work!!!!!

Cryptocurrency - Bitcoin is Gaining Ground , if $ 0.10 gone down, next day $10.00 gone UP.

Nice post

How far is this thing going to go

very very beautifull post.I like it

posted is very beautifull and usefull. thank you

Gonna be $500,000 in 3 years or McAfee... You know

That will be awesome bro. but one thing is sure that bitcoin will continue rising and daily more and more were investing in bitcoin and this will make btc to skyrocket :)

Thanks for information

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Interesting

I just wrote an advice in one of your blog buddy :)

Bitcoin still running away :D

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Thanks for that recognition :)

BTC investors should have faith in the long term viability of Bitcoin and stop getting emotional over its short term volatility.

you have 100% same comment with @meyrep. you can read his comment above.

To the moon bitcoin!

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Bitcoin cash is taking off

its really great post

Great post.

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The fall was temporary and bitcoin with him calmly managed, and now continues its steady growth and remains one of the most interesting areas for investment. We have already seen similar jumps in bitcoins.

Awesome worth reading post and informative. This post was resteemed . Thanks for nice post @elizahfhaye

It is rising very fast!

Great post! It's definitely been a wild week for BTC. Was a little nervous at first and had to listen to so many bogus stories about BCH taking over, but now that we are back on track I think we will be above 10K before EOY! Cheers!

Careful, My forecast through 31 December bitcoin will fall by 40-50%