Be prepared for some bad headlines in the news Steemians...
Steems, What do we think?
The Wall Street Journal for the last few weeks consistently spoke about new ICO's, the exposition of the price in Ether/Bitcoin, and even an article describing the success of miners. Bitcoin even had some free media air time yesterday when Janet Yellen was speaking to the House Financial Services Committee.. A 'CRYPTO PIONEER' was sitting behind Mrs. Yellen and acted when he had a gold opportunity at his finger tips. The guy wrote a hand made sign saying, "Buy Bitcoin". He was quickly kicked out, but we need more people like him!....... Wink-Wink Steemians:)
Todays article in the Wall Street journal had a different tone. It was about how Mark Karpeles, the owner of Mt. Gox, was beginning his criminal trial in Toyota. His platform was hacked three years earlier, and had 750,000 bitcoins removed off there platform! Just imagine that amount of money....Go ahead and do the math.
Thanks for posting agree that this guy should be tried and guilty hopefully its a real shame on people who trusted this guy!
I couldn't agree with you more. This type of press doesn't help the industry grow.
You forgot to add >>> "...and if you are a true believer and plan on holding for the long term...do NOT set a stop limit on the coins you hold at any of the exchanges if htat's where you choose to hold them. Chances are 100% that your stop will get taken out on the first massive wave of selling in bitcoin since Mt Gox. That wave of selling can begin any day now. Bitcoin already going sub $2000. Don't let the computers take it sub $100 because of you." :-)
I'll buy a whoooolee lot more if it goes sub 100$ lol. And btc is still above 2300 though ;)
I would buy everything at $100....I agree I think we are going a little lower, but I think by the end of the year we will be around 5,000 a coin.
90% of bitcoin advocates think it sees $5000 by the end of the year so you are not alone. I call it simple "herd" mentality. Ever get caught in a stampede? :-) I'm not saying it goes to $100. Just that the possibility of what happened to ETH happens to BTC. Stops get taken out by the computers in a wave of selling. I'm tracking Bitcoin strictly on sentiment. I don't expect a new buy opp until the locals are all crying and moaning on the main message board.
I agree it is very volatile but ether and bitcoin always have been. Ether went from $8 to $20 before it pulled back to $5...Then went up to $50, then pulled back to $30...Then gunned up to $200 to have it pulled back to $100...Then gunned up to $415 and has pulled backsince.
I am a long term bull.
Good luck to ya.
NFL >>> Not For Long....above $2000 I mean :-)
Great article @evanrvoss! Thanks for sharing :)
Negative media will be a problem for crypto for the foreeseable future. As long as the media has the topics of unregulated ICOs and price volatility to talk about they will continue to promote crypto as dangerous and risky where sharks are out to hustle you.
One day the tide will shift - and at that point it will be to late to have invested.
Or you just solve that problem and get in the game now... I think most steemians see that and are pulling the trigger.
I've outlined in several of my spews here how you can use the volume spikes on teh actual bitcoin ticker to gauge potential buy points for daytraders. Right now they are "desparately" trying to hold this thing up with little success so far. If this goes to the 1 hour default, pull it back to the 3 hour timeframe and you can see it.
http://bitcointicker.co
If this attempt fails >>> Look out beloooooow! :O
What ever the mainstream media shows, we should..
BUY BUY BUY AND BUYYYYYYY MORE!!!!