RE: BITCOIN (BTC) Update: Overnight Price was Wave 2 bounce and now Wave 3 down onsets
Excellent analysis, thank you, Haejin. I have a theory about Bitcoin. Because there are newer and better coins coming onto the market, it has increased competition. In relation to some of these coins, Bitcoin is overpriced. What do you think? I think its slide is permanent and it will eventually stabilise somewhere much lower - maybe $80 - $220 - within that range..... For instance, I just bought Metal. I want something easy to use and instant. I have bought Neo for the long term......transferring to my wallet, I lost a coin.....only one, but when that coin is my future....my point? For coinmakers, if they make it easy, I will follow....I don't want to have a challenge in keeping my coins :-) keep up the good work, I enjoy reading your analyses and have followed you.
There are three primary decision makers that will make Bitcoin subordinate to another coin. The Users, Merchants and Miners. I don't think they will abandone Bitcoin just yet. I don't see it.
Here is my long term chart. After the final Wave V is placed, prices can drop to sub $100. And who knows what event or news might cause it but one of those or both shall arrive to justify the forecast.
Thank you, @haejin, for replying to my post on your article. You are most kind and I value all of your insights. You are a genius. I love the rational way you explain your views. You are very generous in sharing your wisdom on Steemit. My next task on here will be to work out how to buy you a beer :)
Same here. You can check my previous comments on the matter. https://steemit.com/@vimukthi/comments
I've been very Anti-BTC and practically consider it a curse in the blockchain space. BTC shouldn't worth more than the transaction fees it generate which are Higher than VISA and slower than any other crypto. What a poster boy we have.... No wonder blockchain isn't mainstream yet.
I like metal and TenX but my favorite is Monaco. Also you should check out Dash, NEM and PIVX. They are all great products.
Thank you for your comment. Today, I took possession of my first hard wallet. I picked it up from my post office in the little hippy town near where I live. It came just in time to help me buy into a new ICO. I will be buying more. I just wanted to get my head around how to buy into the ICO - my first, and it took me at least 4 hours to work out how to use the wallet, too. I bought powerledger (POWR). You can buy it in Bitcoin/LTC/Ether. Sorry it took me so long to reply to your comment on my post. The POWR token I mention here is being issued by a legitimate electricity company here in Australia. It is my energy supplier (Origin Energy). I think this token/coin offering should do well. In fact, it should do very well. Currently, Australia has a gas shortage and may be about to cause ructions in the global financial world of contracts because it is selling its gas on long-term contracts for cheaper overseas than what it supplies its citizens and national companies. The main buyer is China. If Australia reneges on its contracts, this could cause a lack of confidence in trading circles. Because of the shortage of gas, the demand for electricity increases. Read about the ICO here: https://mainsale.powerledger.io/#footer . I bought into this ICO today. And I will buy some more, now I know how. Thank you for your tips, above. Yes, Bitcoin is being bolstered by big money because there are Bitcoin millionnaires who might lose if Bitcoin took a tumble :) But it would be okay if it was a gentle unwind rather than a cataclysmic tumble. Cheers, Happy Steeming....
Congratulations on your first hard wallet! I'll check out the ICO.
I do think the death of BTC will be like the death of British Empire (or Nokia or Internet Explorer or Command Line Interface) The crash would burn lots of idiots and mega rich BTC holders who won't be even able to dump their coins safely. BCH would soften the blow and Alt-coins will take over. Before all, BTC will reach ATH.
I share your opinion. Thank you for your reply :)