Where are the bitcoin lovers now?

sangheilios

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#41
Anyhow guys, only invest into bitcoins with money that you could afford to lose.

Chances are you'll make some money down the road but if it doesn't then it's no big deal to begin with.

It's like buying the lottery, those money you could afford to lose on the off chance of striking it big - only bitcoins offers a higher chance.
I honestly think most of the people who got in expected this to be a means to get rich quick due to last year's bull run. This market is highly volatile and a lot of the fomo buyers folded a long time ago. If you are willing to hold you will eventually be rewarded, but no one can say when the next bull run will happen. This technology is not going anywhere, though individual crypto currencies may no longer be relevant in the future, while others become huge.
 

Spaz

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#42
I honestly think most of the people who got in expected this to be a means to get rich quick due to last year's bull run. This market is highly volatile and a lot of the fomo buyers folded a long time ago. If you are willing to hold you will eventually be rewarded, but no one can say when the next bull run will happen. This technology is not going anywhere, though individual crypto currencies may no longer be relevant in the future, while others become huge.
Lots of people invested in bitcoins late thinking it would rise further and got burned when the price dropped.

They made the mistake of investing with their entire savings and just as sudden lost almost everything.

Some made foolish decisions to mortgage their own houses to raise funds trying to earn fast money.
 
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#43
Lots of people invested in bitcoins late thinking it would rise further and got burned when the price dropped.

They made the mistake of investing with their entire savings and just as sudden lost almost everything.

Some made foolish decisions to mortgage their own houses to raise funds trying to earn fast money.
Agree and the markets make people pay the price, they have a way of shaking out all the garbage which I believe is happening now.
 

synergy1

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#44
Agree and the markets make people pay the price, they have a way of shaking out all the garbage which I believe is happening now.
And its not just bitcoin - US stocks are taking a hit and many of the major global markets have already crashed. The interesting point for me was what bit coin would do during any sort of market correction . Now we know.
 

sosousage

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#45
I remember a few months ago there were several posters who were talking up bitcoin like there was no tomorrow.

Now that Bitcoin has dropped to 6K and is nearing the point of no return where it costs more to mine the coins than the coins are actually worth(somewhere around 5K), they seem oddly quiet...

When something seems too good to be true it usually is. The technology itself has a lot of promise but it appears bitcoin might be extinct in the near future...
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hey lady i have 10 btc we should date
 

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#46
And its not just bitcoin - US stocks are taking a hit and many of the major global markets have already crashed. The interesting point for me was what bit coin would do during any sort of market correction . Now we know.
I think it is too early to say this correction in bitcoin is related to the stock market. So far it has followed the previous correction from 2014 almost exactly and started to unwind around a year ago. I am very interested to see what happens the next few years though because I think the global economy will get much worse.
 

Spaz

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#47
I think it is too early to say this correction in bitcoin is related to the stock market. So far it has followed the previous correction from 2014 almost exactly and started to unwind around a year ago. I am very interested to see what happens the next few years though because I think the global economy will get much worse.
There are some big hoarders of bitcoin who could influence the market.

If they decided to dump bitcoin in the market then prices would drop, some has done it in the past.
 
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#48
There are some big hoarders of bitcoin who could influence the market.

If they decided to dump bitcoin in the market then prices would drop, some has done it in the past.
Yeah, a lot of unknown situations sitting out there. Unless they were specifically trying to kill the market, large orders would most likely be OTC.
 

synergy1

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#49
I think it is too early to say this correction in bitcoin is related to the stock market. So far it has followed the previous correction from 2014 almost exactly and started to unwind around a year ago. I am very interested to see what happens the next few years though because I think the global economy will get much worse.
Correlation isn't inference. This is how I look at markets in general because regime changes can effect strategies. what we have no seen is a flight to btc during this correction.

I think there will be another crypto rally at some point. But as others have said, newer buyers bought at the top and those still holding will sell and keep prices down. Its very rare to see stocks reach old peak highs. Usually new leaders emerge in the next bull market. I don't think the existing crypto space will grow to where it was, but you really never know. If a company (which issues a coin) becomes successful, than who knows? As I said before, the technology is ground breaking. To me, it was like internet stocks. The internet did change how we do things, but it took years after the break in 2000 before said companies became winners. This is when i'll be interested
 
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#50
Correlation isn't inference. This is how I look at markets in general because regime changes can effect strategies. what we have no seen is a flight to btc during this correction.

I think there will be another crypto rally at some point. But as others have said, newer buyers bought at the top and those still holding will sell and keep prices down. Its very rare to see stocks reach old peak highs. Usually new leaders emerge in the next bull market. I don't think the existing crypto space will grow to where it was, but you really never know. If a company (which issues a coin) becomes successful, than who knows? As I said before, the technology is ground breaking. To me, it was like internet stocks. The internet did change how we do things, but it took years after the break in 2000 before said companies became winners. This is when i'll be interested
Agree, it may be some time for another crypto rally. I think this next one will be based on utility instead of pure speculation. A lot of these projects are going to start coming online next year. Will be interesting to see if they provide any value. I think most them are either scams, provide no value or will run out of money. A select few with provide massive gains. My opinion is BTC is the safest bet at this point, but all that is is an opinion, nobody really knows. I disagree on total market cap though. I think it has the potential to get to a few trillion next run, whenever that is. Anyway, will be a wild ride for sure.
 
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#51
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#52
Looks like it's up to $4,000 today from $3,100 just last week. I read an article that if BTC drops below $3,400 (the average cost of mining) that miners would quit and thus BTC would crash due to there no longer being an infrastructure.
 
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#53
Looks like it's up to $4,000 today from $3,100 just last week. I read an article that if BTC drops below $3,400 (the average cost of mining) that miners would quit and thus BTC would crash due to there no longer being an infrastructure.
Doesn't work like that. The difficulty changes every two weeks based on the amount of hash power to the network. If miners drop out it essentially becomes cheaper for the remaining miners. It's not perfect but it balances itself out to whatever price it is at. There is a lot of bad information out there.
 
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#54
I listened to people that said only buy what you can afford to lose. I got in when bitcoin was just reaching 1000....still didn’t lose any money but regretting not cashing out at 20k. At this point I’m holding and seeing what next 5 years bring. Still buying small ammounts at these prices and if it’s zero in 5 years oh well... it won’t affect my life at all.
 

Pandora

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#55
Bitcoin has recently had a moderate surge in price since this thread was written. I am invested in some alt coins. This is the time to invest. The infrastructure is being has been set for financial institutions to hop on the crypto bandwagon. 2019 should be exciting times for crypto. Its not a matter or will mass adoption take place, it is a matter of when it will happen. It is inevitable. Everyone is moving to blockchain technology.
 
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redskinsfan92

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#56
I remember a few months ago there were several posters who were talking up bitcoin like there was no tomorrow.

Now that Bitcoin has dropped to 6K and is nearing the point of no return where it costs more to mine the coins than the coins are actually worth(somewhere around 5K), they seem oddly quiet...

When something seems too good to be true it usually is. The technology itself has a lot of promise but it appears bitcoin might be extinct in the near future...
I rode the late 2017 bubble and doubled the money I put in. Haven't touched it since.
 
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#58
If bitcoin price rise again - many ppl comes crazy about it, but currently I suppose that it operates much in the anonimous black markets all over the world.
 
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#59
Bitcoin prices in 2019(https://www.monfex.com/instruments/bitcoin) have been marked by volatility which has made bitcoin price prediction in short-term a bit of a challenge, even for the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we say in 2017.

History generally has a way of repeating itself but bitcoin has a lot of history which makes it an equal challenge predicting which history will be repeated. It takes more than a study of past trends to get predictions spot-on this time and so we ended this article by highlighting certain area expert analysts were looking at.

Analysts, enthusiast, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. Optimism is still high in many quarters—reports of a new survey among British financials suggest a wide majority will buy more coins in hope of price resurgence later this year.
 
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