In my opinion, most people who are investing in bitcoin currently are new to crptocurrency world and they are riding the bandwagon, but surely, there are also smart investors who have invested lots of money into bitcoin and altcoins. Business minded people will not let their business go down, instead, take the opportunity to buy more bitcoin when the price hits the bottom. Although we may see the price of bitcoin to fluctuate, it is normal in the market. Bitcoin's development will never stop unless technology itself stops. Just hope for the best and believe in the future of bitcoin to be bright.
It is expected that bitcoin price will drop after 25th October, but i think bitcoin has a very stronger support from wise investors, they do not want to let bitcoin down on any cost. We have very good experience from previous day, when bitcoin dropped from 5000$ to 3000$, but at 3000$ bitcoin got a strong support and the price once again start increasing. i am sure that bitcoin price is not going to dump any more, it will now continue increasing and hopefully will reach to 7000$ very soon. 
Topic: Be careful. (Newbies and others ...) (Read 3054 times)
Stop dreaming about serious game-changing ETF, it is not gonna happen anytime soon. SEC won't allow it.
They said it many times over and over again, they cannot allow bitcoin to be traded because:
a) it is not regulated like real stock exchanges and commodities, bonds are
b) there is no real protection for investors - as far as I can tell bitcoin price might drop to zero tomorrow
They said it many times over and over again, they cannot allow bitcoin to be traded because:
a) it is not regulated like real stock exchanges and commodities, bonds are
b) there is no real protection for investors - as far as I can tell bitcoin price might drop to zero tomorrow
In my opinion, most people who are investing in bitcoin currently are new to crptocurrency world and they are riding the bandwagon, but surely, there are also smart investors who have invested lots of money into bitcoin and altcoins. Business minded people will not let their business go down, instead, take the opportunity to buy more bitcoin when the price hits the bottom. Although we may see the price of bitcoin to fluctuate, it is normal in the market. Bitcoin's development will never stop unless technology itself stops. Just hope for the best and believe in the future of bitcoin to be bright.
It is expected that bitcoin price will drop after 25th October, but i think bitcoin has a very stronger support from wise investors, they do not want to let bitcoin down on any cost. We have very good experience from previous day, when bitcoin dropped from 5000$ to 3000$, but at 3000$ bitcoin got a strong support and the price once again start increasing. i am sure that bitcoin price is not going to dump any more, it will now continue increasing and hopefully will reach to 7000$ very soon. After reading a lot of perma-bullish postings in this speculation forum, I only want to issue a little warning. Not as a professional trader, but a guy that has been here since 2013.
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
I thought I was not going to post again in Speculation so soon, but you may be the professional trader:
He explained he had bought the Japanese share market on the very day of the high and now it was crashing. His investment was $50 million. But the intrigue came when he said it was the first time in his life he had purchased any stock. He then had my attention since I was talking to the guy who bought the high.
Those who purchased long-ago should be wary of trying to trade in and out of a vertical market, unless you have some conviction about arbitrage such as you think an altcoin is undervalued.
In my opinion, most people who are investing in bitcoin currently are new to crptocurrency world and they are riding the bandwagon, but surely, there are also smart investors who have invested lots of money into bitcoin and altcoins. Business minded people will not let their business go down, instead, take the opportunity to buy more bitcoin when the price hits the bottom. Although we may see the price of bitcoin to fluctuate, it is normal in the market. Bitcoin's development will never stop unless technology itself stops. Just hope for the best and believe in the future of bitcoin to be bright.
Be careful: just because you've been here since 2013 and experienced a bubble, doesn't mean you're equipped or entitled to predict the top.
I'm at least that "entitled" to predict "the top" than the permabulls that promise you $10K in a couple of days 
OP we're going back to $3000 and then $1000 for sure, lol not only price didn't drop below $5000 but it got to $6000+ in the last 4 days, this is just amazing, for 2 years we could predict the price for 6 months ahead of time, now you couldn't predict where will be the price in 5 minutes.
Read the OP again. I've clearly stated that there may be another "bullish leg" in this cycle. That's what we're seeing now. I think it is mostly due to the forks (the 6200 peak occurred just before the Gold fork). Perhaps there will be another rise before Segwit2x. But it's not mandatory that this happens. It is also possible that the price will go down from now on, if people see that they won't profit that much from these forks (BTG and BCC have both prices of less than 10% compared to Bitcoin).
And yeah, we have seen $3000 at some moment. Everybody was bearish that day
Be careful: just because you've been here since 2013 and experienced a bubble, doesn't mean you're equipped or entitled to predict the top.
yep, even blitz tried to call the top. below $3k i think it was.
Can somebody explain what is ETF? I'm glad to read an optimistic speculation. It's probably true that there is high posibility that price will decrease but I hope price will increase.
that is short for Exchange Traded Fund. you can read more about it here: http://www.investopedia.com/terms/e/etf.asp
a lot of the things that he said are open for debate though. for example this ETF that you mention can be a good thing as a positive news for bitcoin and puts it in mind of some potential investors but i don't think it will be the reason for a rise to $10k, specially since it was posted last month and price was $3500-$4300.
one reason for it is because the money for ETF is already in the market and anybody who invests in ETF is not investing in bitcoin but in an ETF!!! so it is not a direct rise.
So, a couple of points that were not considered
1- ETF: if it gets approved we might easily go to 10k
2- Bearish market: I don't think we know where we are... Countries are legalizing bitcoins as we speak and the only real crash we had was because infrastructure at the time was pathetic (I mined a bit but I lost the coins when the hard drive died, don't think there was even a reliable wallet back then without downloading the full blockchain)
3- Market standard: The current bubble is high for bitcoin standards, but we are a long shot from wall street standards...
4- Financial attention: We might get into trade market. Russia is looking into this and US might get there too... First lobbies are starting to form on a government level for bitcoin support
You might be right though, we might be near the end (specially given the fork), but if I look on tradingview, and all people trying to predict anything with TA, it is a bit of a tragedy. I like to click play and see what people predicted in the past re. to bitcoin and a 50% success ratio is quite an achievement there. I am just trying to say that there seems to be no real way to tell what to do next...
I'll be holding for the moment, if it goes flat to 3k so be it
I hope bc will wake up again in a couple of years if so.
[Edited]
Regarding the fact that shops did not increase since 2013... Please take a look here
https://coinmap.org/#/world/30.90222471/22.14843750/2
Can somebody explain what is ETF? I'm glad to read an optimistic speculation. It's probably true that there is high posibility that price will decrease but I hope price will increase. 1- ETF: if it gets approved we might easily go to 10k
2- Bearish market: I don't think we know where we are... Countries are legalizing bitcoins as we speak and the only real crash we had was because infrastructure at the time was pathetic (I mined a bit but I lost the coins when the hard drive died, don't think there was even a reliable wallet back then without downloading the full blockchain)
3- Market standard: The current bubble is high for bitcoin standards, but we are a long shot from wall street standards...
4- Financial attention: We might get into trade market. Russia is looking into this and US might get there too... First lobbies are starting to form on a government level for bitcoin support
You might be right though, we might be near the end (specially given the fork), but if I look on tradingview, and all people trying to predict anything with TA, it is a bit of a tragedy. I like to click play and see what people predicted in the past re. to bitcoin and a 50% success ratio is quite an achievement there. I am just trying to say that there seems to be no real way to tell what to do next...
I'll be holding for the moment, if it goes flat to 3k so be it
I hope bc will wake up again in a couple of years if so.
[Edited]
Regarding the fact that shops did not increase since 2013... Please take a look here
https://coinmap.org/#/world/30.90222471/22.14843750/2
OP we're going back to $3000 and then $1000 for sure, lol not only price didn't drop below $5000 but it got to $6000+ in the last 4 days, this is just amazing, for 2 years we could predict the price for 6 months ahead of time, now you couldn't predict where will be the price in 5 minutes.
Be careful, sell now before you lose everything, I beg of you to dump the price, I need to buy a house. $4000 is the low, not $1000.
Be careful, sell now before you lose everything, I beg of you to dump the price, I need to buy a house. $4000 is the low, not $1000.
For longer terms no need to worry about newbies and other. For sure in 5 years we will see 10k-20k level in itcoin price.
Yes valotility is huge but no need to worry if you are not using any leverage.
Yes valotility is huge but no need to worry if you are not using any leverage.
After bitcoin price break 6,000$ all will buy more from it
Yes you're right, I also thinking like that.. surely most people will take advantage of the situation when the price break from $6000 that's a time to buy, because indeed surely bitcoin price will still be able to reach $6000 again, even it could be more from $6000.Bitcoin price is slumping right now. I think for me, this is really a good buying point. I'm expecting that we are going to be stable around $6000 after the fork but most of the investors are dumping and taking home some profit. Not bad, but others should take advantage of this situation to buy more bitcoins. Its really hard to miss this opportunity. No need to go back to altcoins because they have already recovered. People should cash out their bitcoin gold and put it all in bitcoin. I will surely buy in this bitcoin dip around $5600.
most of posts now turned into say price may be rise more than 6,000$ this will engage newbie
Yes, this can be a way to attract investment from inexperienced people, but in my opinion, bitcoin is absolutely primed for sustainable development, so do not worry. If you do not want to invest in bitcoin, keep your money, waiting for what will happen.
After bitcoin price break 6,000$ all will buy more from it
Yes you're right, I also thinking like that.. surely most people will take advantage of the situation when the price break from $6000 that's a time to buy, because indeed surely bitcoin price will still be able to reach $6000 again, even it could be more from $6000. After reading a lot of perma-bullish postings in this speculation forum, I only want to issue a little warning. Not as a professional trader, but a guy that has been here since 2013.
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
That is valid for Bitcoin and most altcoins at the same time. I think we have overheated - mostly due to the speculation on the Segwit activation - and now we must go down a bit. Probably the rest of the year will be bearish or a sideways market.
What doesn't that "warning" mean?
- It doesn't mean that Bitcoin will go instantly to zero. My prediction is that it will go to $3000, until late October but then, depending on the news, we can go lower (in a worst case scenario, to about $1000).
- It doesn't even mean that $4970 was the top (although I consider it likely). There could be another bullish "leg". But it will most likely be the last one of the year, and I don't think it will reach $10.000.
- It does not mean that "Bitcoin is a bubble". Bitcoin is useful and a great project. But it cannot increase permanently in price. Sometimes there is profit taking, or also a little bit of panic.
Why do I think that the "bubble" ended?
- Bitcoin's price has increased about 30 times in this bullish cycle which started in late 2014 at $135. That is HUGE.
- Adoption by retailers and other real world shops has not increased according to the price increase (in fact, I think we're at the same level than in 2013/14).
- China has strongly restricted ICOs a few days ago. That will lower the demand a bit, although it's not catastrophic, maybe.
- In November, there could be a dangerous hard fork, separating the main development team (Bitcoin Core) from a large part of the Bitcoin economy (miners, Bitpay, Coinbase) on different chains.
Draw your own conclusions. I'm a bit in bearish mood now. I'm still a long term bull
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
That is valid for Bitcoin and most altcoins at the same time. I think we have overheated - mostly due to the speculation on the Segwit activation - and now we must go down a bit. Probably the rest of the year will be bearish or a sideways market.
What doesn't that "warning" mean?
- It doesn't mean that Bitcoin will go instantly to zero. My prediction is that it will go to $3000, until late October but then, depending on the news, we can go lower (in a worst case scenario, to about $1000).
- It doesn't even mean that $4970 was the top (although I consider it likely). There could be another bullish "leg". But it will most likely be the last one of the year, and I don't think it will reach $10.000.
- It does not mean that "Bitcoin is a bubble". Bitcoin is useful and a great project. But it cannot increase permanently in price. Sometimes there is profit taking, or also a little bit of panic.
Why do I think that the "bubble" ended?
- Bitcoin's price has increased about 30 times in this bullish cycle which started in late 2014 at $135. That is HUGE.
- Adoption by retailers and other real world shops has not increased according to the price increase (in fact, I think we're at the same level than in 2013/14).
- China has strongly restricted ICOs a few days ago. That will lower the demand a bit, although it's not catastrophic, maybe.
- In November, there could be a dangerous hard fork, separating the main development team (Bitcoin Core) from a large part of the Bitcoin economy (miners, Bitpay, Coinbase) on different chains.
Draw your own conclusions. I'm a bit in bearish mood now. I'm still a long term bull
I think the moral of this post is that we see a lot of people in this forum, especially newbies, getting too excited about rising prices. Those are the first to panic and sell after the first dip. This is a highly volatile market and it is even more volatile for most altcoins. Every investor should be aware of that and not be surprised if it goes down as fast as it goes up.
Newbies are mostly the types who are in a hurry to make much money without thinking. It happened to me when I was starting and had no idea about everything so I hope they'll avoid those kinds of wrong practices.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
After reading a lot of perma-bullish postings in this speculation forum, I only want to issue a little warning. Not as a professional trader, but a guy that has been here since 2013.
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
That is valid for Bitcoin and most altcoins at the same time. I think we have overheated - mostly due to the speculation on the Segwit activation - and now we must go down a bit. Probably the rest of the year will be bearish or a sideways market.
What doesn't that "warning" mean?
- It doesn't mean that Bitcoin will go instantly to zero. My prediction is that it will go to $3000, until late October but then, depending on the news, we can go lower (in a worst case scenario, to about $1000).
- It doesn't even mean that $4970 was the top (although I consider it likely). There could be another bullish "leg". But it will most likely be the last one of the year, and I don't think it will reach $10.000.
- It does not mean that "Bitcoin is a bubble". Bitcoin is useful and a great project. But it cannot increase permanently in price. Sometimes there is profit taking, or also a little bit of panic.
Why do I think that the "bubble" ended?
- Bitcoin's price has increased about 30 times in this bullish cycle which started in late 2014 at $135. That is HUGE.
- Adoption by retailers and other real world shops has not increased according to the price increase (in fact, I think we're at the same level than in 2013/14).
- China has strongly restricted ICOs a few days ago. That will lower the demand a bit, although it's not catastrophic, maybe.
- In November, there could be a dangerous hard fork, separating the main development team (Bitcoin Core) from a large part of the Bitcoin economy (miners, Bitpay, Coinbase) on different chains.
Draw your own conclusions. I'm a bit in bearish mood now. I'm still a long term bull
Be careful! I think we are near the top of a bubble. Don't invest what you cannot afford to lose.
That is valid for Bitcoin and most altcoins at the same time. I think we have overheated - mostly due to the speculation on the Segwit activation - and now we must go down a bit. Probably the rest of the year will be bearish or a sideways market.
What doesn't that "warning" mean?
- It doesn't mean that Bitcoin will go instantly to zero. My prediction is that it will go to $3000, until late October but then, depending on the news, we can go lower (in a worst case scenario, to about $1000).
- It doesn't even mean that $4970 was the top (although I consider it likely). There could be another bullish "leg". But it will most likely be the last one of the year, and I don't think it will reach $10.000.
- It does not mean that "Bitcoin is a bubble". Bitcoin is useful and a great project. But it cannot increase permanently in price. Sometimes there is profit taking, or also a little bit of panic.
Why do I think that the "bubble" ended?
- Bitcoin's price has increased about 30 times in this bullish cycle which started in late 2014 at $135. That is HUGE.
- Adoption by retailers and other real world shops has not increased according to the price increase (in fact, I think we're at the same level than in 2013/14).
- China has strongly restricted ICOs a few days ago. That will lower the demand a bit, although it's not catastrophic, maybe.
- In November, there could be a dangerous hard fork, separating the main development team (Bitcoin Core) from a large part of the Bitcoin economy (miners, Bitpay, Coinbase) on different chains.
Draw your own conclusions. I'm a bit in bearish mood now. I'm still a long term bull
I think the moral of this post is that we see a lot of people in this forum, especially newbies, getting too excited about rising prices. Those are the first to panic and sell after the first dip. This is a highly volatile market and it is even more volatile for most altcoins. Every investor should be aware of that and not be surprised if it goes down as fast as it goes up.
Be careful: just because you've been here since 2013 and experienced a bubble, doesn't mean you're equipped or entitled to predict the top.
What you say is reasonable....its just hard to say where is the top and what is the bottom.....you just don't know with BTC and there is no precedent.
Also I feel that the people whole sell out are less with every cycle, as their HODL is rewarded and the HODL are selected for.
New entrants can buy a lot less BTC now for a Lot more $$$, and so can dump not so much.
Also I feel that the people whole sell out are less with every cycle, as their HODL is rewarded and the HODL are selected for.
New entrants can buy a lot less BTC now for a Lot more $$$, and so can dump not so much.
OP and all people thinking that it is speculation or it is a bubble: your problem is that you are just looking at the charts because you are just speculators. Bitcoin is much more than that. It is not a speculative tool. It is a completely new technology that will change entire sectors and, since it will only spread more and more, it will reach much higher prices.
I 100% agree with you.
In bubbles people are often led into thinking that bitcoin price will continue to go up no matter what, and it is actually not a bubble at all. I personally think that this is ridiculous, as this amount of growth is simply not sustainable and must come to an end soon.
We are still pretty high up, even though we corrected from $5000 to $4500. I think that $3000 by end of October could be a very likely scenario. Though, i think we are going to retest the $5k level before people start dumping still.
Investors are free to do whatever they like, but just remember that this is a bubble, and it is good to be rational in a bubble and not follow the hype.
In bubbles people are often led into thinking that bitcoin price will continue to go up no matter what, and it is actually not a bubble at all. I personally think that this is ridiculous, as this amount of growth is simply not sustainable and must come to an end soon.
We are still pretty high up, even though we corrected from $5000 to $4500. I think that $3000 by end of October could be a very likely scenario. Though, i think we are going to retest the $5k level before people start dumping still.
Investors are free to do whatever they like, but just remember that this is a bubble, and it is good to be rational in a bubble and not follow the hype.
A lot of people has been saying that bitcoin is a bubble for so long, especially when the price goes down or dips. I somewhat agree with OP's reasoning in the end of the bitcoin bubble. However, I do not agree that China's ICO ban and decision has played a part in it.
We are entitled to our own opinions and each one may deduce different conclusions by looking at the recent happenings and with different views. As in investor, I'd like to agree with OP and have the same view because I intend my investment on bitcoin to be long term.
Jump to: