just wait for the next 3-5 days, see how low this things really go (better expressed them in 3 x 24 hrs etc) wow Niagara
A 24 hr period is but small timeframe really, Remember back when we were predicting Bitcoins high for 2017 earlier in the year ?
Yes, it is. But that's why it is so significant. Nearly all major cryptos down 25-40% in a 24 hour period is kind of a shock to the system. I admit there is every chance they will bounce but that is some serious volatility there you have to acknowlegde. PS - When we were predicting the top for 2017 I thought that $5K was pretty high reach, as did most. When you put what has happened since in that context you have to admit BTC probably over-shot the mark reaching for $20K.
Have to consider, where the money has come from... 1 the highest, 8 being zero As btc is driven by 1 to 4 and as they come and go the prices will up and down depending on mood of the herd. Liquidity side 1. Sheeples 2. I have no idea but it’s free money 3. Free money 4. keeping up with the Jones 5. Investors 6. exchanges 7. miners 8. Banks
Actually the real problem to everyday holders, is multiple major exchanges suspending trades. Get a strategy
So how many people here have been panicking over the past 24 hours? This is good and healthy. If it causes you any stress then you should probably reassess your position in crypto, because this probably won't be the last time this happens Can't just expect it to always just go up forever. It had to happen at some point, and now is the best time to buy.
Hey Soprano I must admit I was a bit worried because I wanted to pay a bill at Living Room of Satoshi and every time I wanted to send the payment it kept on coming up with "we are not accepting bitcoin payments right now" or something like that. This is what I have been telling people, when it starts crashing "really" you won't be able to get your money out. Get it out while things are quiet and all good. No use 2 billion people trying to do it at once, it just won't go through. Another of my payments failed this week too, was unconfirmed for 3 days then it got dropped. The system is much less than perfect. So yeah, good that you mentioned it, cheers.
If getting your money out quick is something important to you then I think it's probably a good idea to review your holdings and have an exit strategy in place so that you are better prepared for next time We all know that BTC is a nightmare to transfer at the moment due to the massive delays and fees, so I would look to only hold BTC that I am willing to hold long term regardless of what happens to price etc. Put that BTC into a cold wallet, and forget you even have it For the rest of your portfolio that you want instant access to, to be able to trade, make payments with, cash out etc use other coins like LTC to send and withdraw with because you won't incur the delays and fees of BTC, and you will be able to exit seamlessly with
If you're making smallish payments (a few hundred dollars or less) then you shouldn't be using Bitcoin. The high fees make it pointless. Use something like Litecoin, Dash or Bitcoin Cash.
Yeah I'm considering Litecoin or Bitcoin cash just to be able to move smaller payments. It was a joke yesterday and I had to push a transaction through with an accelerator. In regards to the drop I will be making some bitcoin - you should have sold around 17000+ (USD) as it was fairly obvious a correction was coming. I still feel like 10K is on the cards but wait and see. Overall though unless you are a trader don't worry about it, you go long on bitcoin you will likely be fine unless it stops being the reserve currency for crypto. Crypto is exploding right now and the dinosaur money is coming.
There is another theory that it was tied to that national emergency declared yesterday. Most of those people listed who had assets frozen would have bitcoin holdings and may have needed some cash after their known bank accounts were frozen.
You've left yourself an out. Thought I'd highlight it for those who didn't pick it. Dangerous advice here.
