...Another week for bitcoin and what do we see now? btc/usd reached 10000. What's next? It seems to me that bitcoin will constantly have such high volatility. And if we see a maximum in 2018, it will not last long, after growth again there will be a sharp decline. Experienced investors start buying when falling, but I would not advise to push for now.
Adribaasmet posted: The current value of BTC is 10,500$ USD! I’m scared!
There is nothing to be scared. Professional long term traders wait for such price levels for months for a good entry, because it is a quick gain for them. Because when next price pull back will happen, we may reach the total market capital of few trillion dollars so quickly.
By this I am not saying that BTC price will not go down further and BTC price may go even down even further for a short period of time, but recovery of Bitcoin price may happen suddenly in a matter of days or weeks and when it will happen, it may cross straight above 30K or even 40K and so at least a 300% to 400% gain is waiting within a couple of months.
So most large investors may simply pump at such price levels, but medium term investors trading trading with few thousand dollars should stay away from Bitcoin for now until a clear signal of uptrend.
But it is a very good buy for other good altcoins for small and medium term investors especially to buy those coins who have lost 30% to 50% due to this effect, but have a strong value in it. In those case, it can quickly give a 100% return within 1 to 2 weeks.
By the way, I am not interested in arguments, but interested only in facts. There was no term called BCH or Bitcoin cash in cryptocurrency list before 5 years, but BTC or Bitcoin was there and BCH is a 'New' cryptocurrency now listed under cryptocurrency list. So don't try to confuse new users by saying BCH is not a new cryptocurrency.
Ok, you are right in terms of BCH being a 'new' crypto in terms of lifetime and appearance. But BCH is not 'new' in terms of technology or invention.
The concept and ideology of BCH was always there in BTC itself, when it didn't have the scalability and network problems, like it has now. Thats why BTC had a hard-fork and thats why we have BTC and BCH now.
Maybe they should have called BCH 'Bitcoin Classic', instead of 'Bitcoin Cash'. Or call 'Bitcoin' = 'Bitcoin Classic' and 'Bitcoin Cash' = 'Bitcoin'. Maybe that would be less confusing. But as I said before: There was (and still is) a big conflict of interest between BTC and BCH developers. BTC developers didn't want to change anything and prefered 'bandaid' fixes to address the scalability and transaction problem, while BCH developers wanted to address to problem at its core.
If you are a supporter of BCH, then just provide me at least few website links where I can go and buy BCH fast using my credit and debit card or by direct cash payment without much hassle of long verification waiting time and all that stuff and without any upper limit of Buying Bitcoin cash. If so, then me personally will start massively using BCH and will promote all my clients to use BCH instead of BTC.
However, I don't want to push anyone into anything. I can't foresee the future. My point is just that with all the BTC hype, majority of people seem to either have no idea or deliberatly ignore the problems BTC has lurking in its shadows. These problems will naturally never allow it be the 'money of the future' because of the high fees and slow transaction times. VISA processes 2,000-4,000 transactions per second (tps), capable of 56,000 tps. Bitcoin can process 3-7 tps and is 'bribable', this means if you are willing to pay higher fees, your transaction will be processed faster. And as we can see, a ~40% price drop in just one month doesn't make it a 'store of value' either. I'd rather prefer USDT as a more secure 'store of value'. ;)
If not, then please don't argue blindly regarding how BTC doesn't have value and BCH has value etc, because probably you don't know that nothing has any value if you don't use it and the assets gain value from users and from them who use it.
Well, US$ is used all over the world every day. But has it a value or a 'bottom price'? No. Just look at US debt. And same is true for any cryptos. I'd like to pay with cryptos. But the current 'JUST HODL' mentality makes it literally impossible. People don't want to spend their cryptos, because they are only in for the fiat profits. And Exchanges make it even worse. A few days ago I wanted to pay ~$20 in XMR (0.065). Exchange said it will charge me 0.05 XMR fees ... WTF. So what is the fundamental value of any crypto if people don't even use it but are just in for the fiat profits?
BTC is like a doorway or gateway for fiat crypto exchange by which you can convert fiat to crypto and crypto to fiat. Then, once you have BTC you can carry on with other cryptos. That's how BTC has survived so far.
Yes. And thats not good. They need to get rid of measuring other cryptos in value of BTC. If BTC drops, it drags all other cryptos with it. Howevery, you can also buy any other crypto with BCH or XRP, if the Exchange supports it.
26th January is an important date to watch out for Bitcoin price movements since Bitcoins futures contract will expire on that day.
The bullish move of BTC price didn't happen as expected by me during January since such a healthy and strong correction was was absolutely necessary after a huge rally till 20K within a short span of time, because next rally will bring the total market capital to trillions.
Considering the technical analysis of Bitcoin price, everything seems to be going perfectly fine.
However, BTC price can very easily and quickly move to 30K to 40K within next 1 to 2 months at anytime. So it is an interesting time to watch out for when total market capital will cross 1 TRILLION USD may be within few weeks to few months.
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