The problem is that these “dips” are somewhat short-lived, then prices rise but they meet a huge amount of resistance that can’t be broken at the moment due to the market jitters, this then sends the prices back down again. Which is exactly what is happening as I type. It’s impossible at this stage to know if we’re at the bottom of one of those dips are whether we will face a general falling market so I’m being cautious. And we haven’t even heard what’s going on with tether.
Looks like Bitcoins price is heading towards my $7000 target range. (and equivalent for the other coins) Hope everyone left some money on the sidelines to do some buying. It's going to be painful for the people that purchased at the top to watch, but hope they have learned a valuable lesson how markets flow. Keep emotions away from your money and don't chase irrational buying. Though i have been saying $7000 for a while, if Tether gets proven to be a scam we can see much lower prices. So keep up to date with whats happening. And as always, don't put in more money then you are willing to lose.
I was not talking about price where btc came from, but those that bought at around top and now lost half. And my comment about me not feeling sorry for people that sold their metals and bought btc at around top and now lost half was not aimed at stackers I know here, but outside here, even though I didn't actually say that.
If I know them (from here) then I feel sorry for them. Stackers outside of here too coz I'm a stacker.
Yes, I think ETH has the best chance of holding strong because of it's contract based system that the ICO's rely on. Doesn't mean it will boom, but less chance of crashing or getting continually eroded down in value, and we may be starting to see this in action right now.
Heaps of ICO's going on now and you need ETH for nearly all of them, so people will always be buying ETH to enter new ICO's Not everyone is cashing out
eth has no fixed supply, vitalik can print as many ethers as he likes. he is also a big single point of failure, once the russian mafia get a hold of him.
We are now in the $7k zone. This is a price I'm more comfortable with, but 2 things are spooking me. (1) the Koreans prices are now less then everyone else. This could be panic house wife's selling or maybe the government is planing to do some big crack down. (2) Tether is still plotting along, so if they go down the Bitconnect path then that could cause another wave of big selling. If you're in the market to buy then maybe don't go all in. Maybe do 1/3 of what you plan to buy now and wait and see where this goes. Atm the charts look nasty.
Korean style Oparah Winfrey and Kathy Gifford shows are scaring the mums. As for the millennials, the numbers of shows warning them about the dangers of getting credit cards and withdrawing cash to buy crypto is getting traction, though those already under water, too little too late.
Bitcoin may have a pop or two once it reaches certain levels and sideline investors jump in, but in the end it is going to settle below 1000 in my opinion. Unless Bitcoin has something proprietary that it owns and that no other crypto has, it will be replaced as the most popular at some point. You always hear the "this time it's different" mantra by proponents, whether it be stock market, PMs, or bitcoin. Some still say bitcoin will reach 100K. I guess this time it's NOT different.
As a side note, just was looking up the price of bitcoin and the drop down currency list had Special Drawing Rights as an option. 1 Bitcoin equals 6176.01 Special Drawing Rights Never noticed that option before. Maybe because i never looked but still. Mmmmm
Well the money i have to play with in crypto i can buy half a bitcoin or 5 ETH. I am going with the ETH @ $1247 NZD. I shall have a wee choke if its down the drain as most of it is real money ( real= money i put in just for this from my bank,and not winnings money)
