The calm before the storm?
Bitcoin and the cryptocurrency market continue to slide... will the buying spree begin soon?
With the exception of very few coins, such as Verge, DigiByte, and Reddcoin, the cryptocurrency market has been sliding over the last 24 hours. It appears that traders are not yet ready to jump back into the market, even with discounted prices on just about every coin.
If ever there was a "buy" moment, this appears to be it. However, there remains considerable hesitation to re-enter the market at this time.
Could it be that people are just too busy with cooking turkey, setting tables, and last-minute dusting before guests arrive? Will we see a Christmas buying spree similar to the splurge we witnessed during Thanksgiving?
We will have to wait and see...
In the meantime, take advantage of this lull to stock up on a coin you have researched!
*This is not professional trading advice - just my opinion!
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BTC: 1FadQUp6PxQcbt1sicLRDE3f7v2kQPpVBq
BCH: 13Gb1p2m9evD6jaR2ZEs1dyVPRWojKFEfY
image source:
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It possible Bitcoin arrive $8000, now only need to understand the <bitcoin <cash will follow the Bitcoin or will replace?
I have heard from some that the miners and day traders are favoring the Bitcoin Cash - but I am still very new to this so I only know what I hear. As of now, I personally have not
It's true that, at the moment, Bitcoin Cash is much faster and easier to transact - but this is true of many, many altcoins. Take Verge, for instance. It is extremely cheap to transact and is faster than Bitcoin Cash (and much, MUCH cheaper to buy into right now).
Bitcoin Core - the original Bitcoin - has a huge development team. Even if you just buy Bitcoin to get all the free forked coins you will receive over the next number of years, it's worthwhile. Bitcoin Cash simply will not be able to keep up with the development of Bitcoin Core in the long run.
For now, Bitcoin Cash certainly has the edge. This is temporary.
Thank you for your knowledge! It is truly appreciated.
You're welcome.
I find human psychology very interesting in this realm. We are super-excited when an investment skyrockets in value, but are torn with the regret of not having invested more before a surge. Then, when prices settle, we are upset when we should be excited about the prospect of being able to buy more.
We need to separate ourselves from the emotional reactions we experience when buying or selling crypto.
The reality is that the market could plummet further, so if you plan to sell tomorrow, I admit, it's probably not a great time to buy anything. But, if you plan to hold for any decent length of time, this is a very good time to explore the market and pick up a few interesting currencies at very cheap prices.
The trouble is, we all want to be on the winning team. You need to pick a "team" that is losing at the moment, but stands to make a come-back. That is not an easy thing to do - it goes against our natural survival instincts.
About 10 years ago, fresh out of college, I joined the financial advising industry. Your analysis of the human psyche in this real is so true! -and to prove how powerful those emotions are, I as an individual trained in the "real" still fall into the same traps.
What I would like to do, as I have just recently started actively trading again (not just 401k or IRA contributions) is set strict guidelines for each investment. Attempt to take the emotion out of it (good luck right!).
In the mean time, I am just trying to learn as much as I can about the crypto world as I was resistant to it until just recently.
Yes I know that, but fees at $50 need to end very fast. As created of Bitcoin said we need cheap and fast way to send money.
Also found this:
https://steemit.com/bitcoin/@patronmaster/bitcoin-will-drop-to-usd5000
It could descend to $8 000 USD, but Bitcoin Core has so many developments going with RootStock, Lightning Network, atomic swaps, Segwit, etc. that I think Bitcoin Cash will fall by the wayside as, albeit, a decent altcoin, but not the king of crypto. BCH attempted to take over, first with a large-scale attack back in November, and more recently, with a surprise release on Coinbase that was suspicious and involved insider trading (which is, admittedly, perfectly legal in cryptocurrency). Ultimately, their attacks on Bitcoin have failed thus far.
Within a month or two, the buzz will be back on Bitcoin and its exciting improvements.
In the meantime, huge gains are to be made in the altcoin market.
As the interactions on Steemit seem to be slow during the holiday, I am assuming that so it the trading. My other assumption is that people have their discretionary money tied up in the gift buying of the holiday. Once the pain of the spending has subsided, people will start pumping the market again; I hope...!