Are You Concerned On Sudden Rise of Bitcoin? - page 5.

cryptoangel

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Quote from: dentolas on October 26, 2019, 04:07:06 PM

Have you seen the sudden rises that brought BTC back from 3-4k level to 10k?... same thing... it's volatility is well known and will be difficult to tackle until BTC gets more distributed...
It has good sides and bad sides...

Bitcoin is a volatile cryptocurrency so everyone know the pump and dumps of Bitcoin. The current hype make good notice for BTC potential so peoples are concentrate more right know. This year starting it was stay in 3k to 4k only but everyone see the 13k USD on this year so it will raise again on further days.

jaocoincrypto18

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Quote from: mk4 on October 26, 2019, 05:51:12 AM

Quote from: kryptqnick on October 26, 2019, 05:26:19 AM

Well, even though I am also happy to see this sudden rise, if the reason behind it is the Chinese President, it can backfire harder than a typical correction would. For instance, he might issue a statement explaining that cryptocurrencies will be banned and Blockchain will be used for other purposes or that the only legal crypto will be the Chinese national crypto... This could kill the excitement overnight, followed by Bitcoin going below $7500... It is not very good that such controversial regions are still playing at important role in Bitcoin's price formation (if this is what's happening, that is). It makes it all very fragile.

Sure. But again, it doesn't really matter, as this will just be a blip in the charts in the long term. Who cares if the excitement dies overnight? This sort of pumping event has happened multiple times in the past. The markets are irrational, and don't expect it to change anytime soon. And lastly, we're not even sure if the China announcement was actually the main cause of the pump. It could totally just be a coincidence. But again, no one knows for sure.

I agree, If China has to do with this sudden Bitcoin shooting back up then the price should continue to rise up maybe it was already above $10,000 right now because when China banning Bitcoin before the market Bitcoin performance was greatly dumped so I think this is just a big whales trap using the Chinese president statements of positive approach on Bitcoin.

magneto

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

No.

A long term store of value can be volatile in the short term. It's not contradictory to have an asset that may be volatile in the short run, like gold, to be considered a safe haven asset for storing wealth.

I'm not concerned whatsoever in that aspect, although what I am concerned about is that people are FOMOing to a very significant extent. A 30% rise is not natural within a day, even with the Xi news.

STT

legendary

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It represents volatility so I'm interested as to why thats occurring. We already had a rise before the weekend and then I would guess on a positive effect occurring on Saturday and Sunday before hit the hard road on Monday again. Its not normal for sure, put it that way so concern isnt incorrect imo but also BTC is volatile and I did expect some rise with 200 day average rising everyday; it created some vacuum for the price to re enter higher prices. Short term prices can move in surprising ways and BTC has high volatility compared to almost anything.

buwaytress

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Well I tell you what, you're right to be concerned IF you think you have to be concerned about the rise and falls of Bitcoin in the short term.

I personally think most people whine too much when price falls, and then they're happy to eat the cake on days like these. For me, if you want the cake, you got to eat the scrapings in the bear market too, right?

I was concerned in 2017, and concerned this year when the rally happened. So yeah, concerned today too that all this is too soon, too fast.

But I tell myself, at the end of the day, all this doesn't matter when my big picture comes. This just delays it.

eaLiTy

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere.

Ok you are trying to claim that you are having some BTCitcoin hidden like a treasure trove Roll Eyes

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

BTCitcoin is a volatile market and these kind of price movements are nothing new, it is a global market and anyone can invest and trade without restriction and hence these kind of volatility is a common occurrence. You can see BTCitcoin which ever way you like, use it as a store of value as transaction or to trade internationally.

dentolas

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Have you seen the sudden rises that brought BTC back from 3-4k level to 10k?... same thing... it's volatility is well known and will be difficult to tackle until BTC gets more distributed...
It has good sides and bad sides...

target

legendary

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The one thing that you should be concerned of is how much BTC you could have before the price finally sets to rise going to its ATH. It doesn't matter if the Chinese are going to use their own digital cryptocurrency or they ban BTC still, BTC will still be decentralized and can go up before their coin can. All that matters is if you have BTC in your wallet.

royalfestus

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Whenever I see pump with bitcoin I usually go for the news around it, some news are capable of sustaining the pump for a long time and some are just distraction. China posed to be around the news, after a long tussle bitcoin can enjoy the china population and the adoption. This news is capable of starting a steady sail of the space. What will be the implication in altcoins as time passes?

dragonvslinux

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In the short term, given that at present this is the furthest Bitcoin has dropped in a single day for a few months it's concerning. What's more worrying is this is the biggest doji reversal candle (long wick at the top) we have seen in years. It doesn't need to close red to be as bearsh as it get's unfortunately. Just my opinion of course.

Febo

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

This is nothing unusual. It is happening all the time. Price of Bitcoin decreased because of whales two days ago by almost 10%. In June I remember it went down and back up for 20% in few days time. If you check price in past you will see this happens all the time. Price of Bitcoin is highly manipulated by whales. Do not trade Bitcoin. If you want to trade you trade something else and keep away of Bitcoin. You will definitely lose here.

exstasie

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

We are still in the experimental early adoption phase. Extreme volatility is par for the course. Embrace it.

The only thing I'm concerned about is the market may have moved "too far, too fast." Sometimes moves like this plunge back down, forming an Eiffel Tower on the charts. That would trap lots of bulls on the wrong side of the market, not to mention that shorts have already been fully squeezed.

So if the market somehow makes it back to the $7,000s things are going to get very ugly.

boltz

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I'm not concerned as I don't think the bull run will begin any time soon as we're still months away from halv. I'm concerned that some of my altcoins won't rise until I manage to gather more as they tend to follow bitcoin rise this time which is surprising.

Even if Bitcoin did a nice jump last night , soaring 2k$ in about 2 hours which is like a flashback from the previous bull run in 2017 but then it calmed down as the sell orders were to big. Some says that this rise had something to do with China going PRO cryptos giving a lesson to USA as they stand against cryptos...so lets see what next days will bring into markets.

YOSHIE

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Is my concern really valid in the face of this ongoing development?

There are several methods, courage and doubt, that you have when doing something and going to one goal.

I give you an example, when you want to leave for a country, by plane or ship, have you ever thought the plane crashed and exploded, a sinking ship cannot swim.

Before you enter the investment world like Bitcoin, what's in your heart and mind is profit / loss, if one of the profits and losses is in your mind that's what will happen to you.

Now, you sit and think I'm investing in Bitcoin.
What for....!
To whom...!
Loss.....!
Profit....!
Now you have to ask yourself, what am I doing ...!

After you answer this question in your heart, you will find (worries and doubts) that are currently overtaking you.

YuginKadoya

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Don't get too excited with this sudden surge or spike sometimes the next movement will be a correction, But this can be part of Bitcoin really going another All-time high or just readying us for another ride and because we are having another halving I guess this can be possible and the next year can be fruitful for Bitcoin, I am not really concerned about the sudden movement upward for Bitcoin in fact this is all in a prediction beforehand that it will then increase to $9000 USD something then on Next year march will be the day for the price to really proceed its next pace.

aysg76

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Quote from: Text on October 26, 2019, 07:47:15 AM

No, bitcoin's volatility will not cause any damage so you don't have to be worried about it. That is bitcoin. Well, I'm happy too just like you seeing the price increase after the past few days of bearish trend. I think, you should not say up and down prices as development. The true progress of BTC is the adaptation.

Yeah, I'm not really worried about the crypto's sudden rise since the coin is too volatile and these rise and falls are a normal thing for it. The price was facing dip from the past few months and now the investors are quite happy to see the inclination in the prices. But still, I think it is hard to predict whether this the beginning of a new bull run or a simple pump and dump rally...

CryptoBry

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Quote from: kryptqnick on October 26, 2019, 05:26:19 AM

Quote from: mk4 on October 26, 2019, 05:08:21 AM

Concerned of what? Usually, huge price rises like this always follows a correction, which is very likely to happen and is to be expected. With that said, what should we be concerned of? Regardless if we had this huge spike or not, majority of people still don't look at bitcoin as a good SoV in the first place anyway due to the price instability. In the long term, this is just going to be a blip in the charts.

Well, even though I am also happy to see this sudden rise, if the reason behind it is the Chinese President, it can backfire harder than a typical correction would. For instance, he might issue a statement explaining that cryptocurrencies will be banned and Blockchain will be used for other purposes or that the only legal crypto will be the Chinese national crypto... This could kill the excitement overnight, followed by Bitcoin going below $7500... It is not very good that such controversial regions are still playing at important role in Bitcoin's price formation (if this is what's happening, that is). It makes it all very fragile.

This is a big testament on how China can be an influential with almost anything happening in the world right now. However, I don't really believe that the recent hike in Bitcoin price is directly linked to the statement of China's President on the blockchain because we already know long time ago that China is very much interested with using the blockchain technology but will not be touching on the issue of Bitcoin. There is nothing new there, and am sure that some analysts are just looking for some reasons of the flash upward movement and since they could not find one really credible they pick up that Xi Jinping thing.

Bitcoin has been known to be very volatile and I think this is its one major feature and as such the sudden rise and also sudden fall has no meaning attached to it anymore. As far as I know this will never damage anything of this coin but will further strengthen what we know of it, that it can be very volatile anytime.

qwertyup23

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Every rise in the price of bitcoin can be viewed as either positive or negative depending on your perspective but most of the time, you should treat it as an opportunity in your short-term investments.

Two days ago, the price of bitcoin fell to around $7,500 and its price skyrocketed today up to $9,300. If you purchased bitcoins last week, you may be able to garner a realization of income through short-term investments.
The only problem that I see when price starts to increase are the transaction fees. As prices increases, so as the fees provided in our respective exchanges.

Text

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No, bitcoin's volatility will not cause any damage so you don't have to be worried about it. That is bitcoin. Well, I'm happy too just like you seeing the price increase after the past few days of bearish trend. I think, you should not say up and down prices as development. The true progress of BTC is the adaptation.

Darooghe

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Quote from: salamat700 on October 26, 2019, 04:58:18 AM

However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

You could easily fork bitcoin and make it stable, But a hardfork requires majority consent and it requires no significant opposition to be succeed. because any significant opposition is able to cause disruption and uncertainty around the period of a hardfork, which will be unwelcome and troubling to businesses and users in the ecosystem. therefore users/businesses are incentivized to oppose contentious hardforks.

Furthermore i think volatility can decrease soon, specially with future markets. cryptos are still young as digital assets, almost everything can put a pressure on prices: bad news, rumors of regulation or whales. it's good to know, many Crypto assets, despite their volatility, are still more stable than the local currencies of third-world countries such as Zimbabwe, Venezuela, Vietnam, Afghanistan and Iran . For this reason, cryptocurrencies will become a safe-haven for those who have their money stored in unreliable countries’ banks around the world.

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