🚀 Bitcoin Alert 🚀 biggest dip since weeks! 📉

onetin84 (62)in #bitcoin • 7 years ago

Dear Steemit friends,

currently Bitcoin's fall accelerating to develop a major correction.

It would be interesting what happens in the following days. What could be the reasons for the correction?

Yobit filed bankruptcy
the news of Bitcoin future listing CME and CBOE are over
strong difficuilty increase for Bitcoin miners for second time makes it less profitable

Profitability switched in favor to BCH which moves miners to BCH which takes hashpower from Bitcoin and increases the transaction backlog there, slows transactions and makes them even more expensive than already before.

What do you think, a major correction or just small dip?

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#crypto-news #mining #money #trading

7 years ago in #bitcoin by onetin84 (62)

$8.56

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steemibu351 (57) 7 years ago

bitcoin is one of the biggest opportunities since the invention of the internet itself.... great times to be around....

$1.17

1 vote

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onetin84 (62) 7 years ago

That's true, i think so the technology behind is created by a genius!

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steemibu351 (57) 7 years ago

i also think so......you are absolutely right

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greenwhell79 (46) 7 years ago

thanks for resteem

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sagarthukral (62) 7 years ago

A major correction is indeed required to keep the market healthy.

$0.68

2 votes

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onetin84 (62) 7 years ago

and maybe good buying opportunity or adding to existing holdings for me. Thank you!

$0.02

1 vote

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sagarthukral (62) 7 years ago

Yes, I am also looking to buy more, prices of Bitcoin have dipped already.. Do you see it going back up or is it just the beginning of the major pullback?

$0.52

2 votes

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onetin84 (62) 7 years ago (edited)

it's just educated guessing it think it goes further up, the reasons for are:

many not even know of the huge crypto space in my environment (well educated people) -> the viral effect kicks further in 2018
demand from countries with broken currencies with up to +40% BTC price
CME and CBOE were just the beginning for many more financial products around BTC, like options
Lightning Network works already, tested on mainnet, it will unleash a whole new world for Bitcoin, maybe already 2018 or 2019 -> it would be huge for retailers, consumers and also Steam would come back for example
big investors already in and many more from the conservative parties are rushing in, like banks, conversion of naysayers is ongoing
more countries wanna profit from the development and i guess more regulation and legalization by governments is coming
recognized as store of value (2. phase, after 1. phase only a messenger) before 3. phase medium of exchange

..that's what comes into my mind in 5 min

drawbacks currently:

mining frenzy with ultra high energy consumption -> others with POS solutions like ETH
still high volatility which makes it difficuilt for pricing in retail (need a fully automated system)
TenX, Bread and others have not really started for mass adoption but is on the brink -> the bridge to the fiat world for the medium term (3. phase medium of exchange or digital cash)

$0.02

1 vote

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sagarthukral (62) 7 years ago

I wish I had a bigger upvote value, thank you for taking out time and giving a detailed response.. I agree that long term, the prices will go up but I am still expecting a bigger pullback before that.. We have been in a bullish market from almost 2 months now and a pullback will be healthy for the entire market.

$0.26

1 vote

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aaawee (49) 7 years ago

dear my love @onetin84.
I will not be surprised by the price of BTC is down, because tomorrow the price can be back to normal again and higher than before.

$0.41

2 votes

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onetin84 (62) 7 years ago

yes, i see this always as probable scenario, it's the crypto ocean sometimes sunshine with tiny ripples and sometimes huge tides and stormy weather.

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nachon (49) 7 years ago

Bitcoin creation is one of the best creation..

$0.40

1 vote

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onetin84 (62) 7 years ago

created by a genius, a messenger, a store of value, a medium of exchange. Thanks

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killerkuasha (57) 7 years ago

if bitcoin fall again i don't know what will happen but let's see where it goes....

$0.40

1 vote

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onetin84 (62) 7 years ago

often it's connected with a Altcoin pump, a flippening between BTC and BCH or a bunch of bad news which moves the sentiment worldwide.. but the technology always remains the same..

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shagorshikder (54) 7 years ago

thank you sir..for your kind informtion..to be alert us

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1 vote

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shagorshikder (54) 7 years ago (edited)

i want to add something...that is..if bitcoin price fall so fastly....many people will lost their ...property
thank you

onetin84 (62) 7 years ago

sadly people today borrow money, sell their houses under value just to be in the hype cycle, that's quite dangerous if you depend on the outcome of this invested money in the short term, which is then pure speculation with high risk.. long term everything is fine i think. Thank you for the thought!

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