Topic: Bitcoin below $3000: "Good buy" or "Goodbye"? (Read 2124 times)

According to some people that inclined on cryptocurrency and cryptocurrency enthusiasts that this year bitcoin will be stabilized on the range of $4000-$5000 upward, but i cannot assure with this assumption, since a lot of big companies may have the potential to bitch out and do some jerky moves like what JP Morgan did.

43 people here thinks that now is good time for buying, including me. In my opinion option goodbye wasn't possible, I don't understand where this 3 people come from. Bitcoin is up again and still price is for good buy, I said price until the end of the year will be 7000 dollars or more, so when ever you buy until then you will make profit. Bitcoin is not easy to kill, and some news can make panic here among bitcoin users but not to all of us. Bitcoin is good for holding and people who sell it should do only in a need for some cash, but of not save until bitcoin gets to some higher price because that is coming in next few years. Bitcoin is main topic on all continents, in all cores of society, and is it good or bad is not important as long as they spell Bitcoin correctly, do you know who said that first?

the $3000 marks is the right time to GOOD BUY in bitcoin, in my speculation bitcoin will not down totally in #2500 marks. so in that state, its a big opportunity to buy some bitcoin. and hold it until the bitcoin will rise at his $4000 marks.

@e-coinomist:

I think he refers to the fact that after the "exchange ban", there will be still a lot of Bitcoin supply originating in China because of the miners, but much less demand because the "ordinary public" will be excluded from Bitcoin (well, some tech-savy nerds and people with special financial knowledge / rich people who can afford international transfers will still be able to "get in" but most others not). As the miners will have to sell their BTC in neighboring countries (like Taiwan, what you mention), these markets could get out of balance and get bearish.

As Bitcoin is still inflationary (and thus to hold the price, we need more buyers than sellers), that can have a (short-term) bearish impact in western prices, too.

In general, I don't see too much signs for a return to the bull market in the coming months - I still think we're in a bounce, and I have predicted in earlier posts that the "cat" can go well over $4000. At about $4300-4400 I would begin to doubt if we're still bearish, but to return to the bull market, technically $4970 must be broken

His "paying the energy bill" concerns are on spot, but solveable. Back again on that example mining collocation, they have absolutely no trouble moving their BTC out of China, onto some Taiwan exchange site. I know which they do use, but that's not for this thread.
Buying goods in Taiwan, exporting them into China. Let's say "rice" for heavens sake. Some day China will have to ban rice?
Selling rice, getting Renminbi in exchange. Paying them bills with that. Accomplished.

A nonissue.

The other are sentiments and technical charts. Such a punch as we experienced lately could very well get employed for squeezing out the competition, further concentrating the markets onto a smaller subset of active players. This would form out as a bulltrap following the last ATH. Copy-paste 2013/2014 charts onto today, will look similar.
Just if we are approaching a bulltrap, it's still "Good buy" just now. Something swaneyblackish like Segwit2x Fail later onwards could get us into a hurry, again.

I think I agree on what you said sir, it's time to buy bitcoin because their price now is fall down. Also it was started to raising up again, I believe that on the next year 2018 bitcoin value was raised up into $5000. Moreover I was not panic when bitcoin value decline into $3000 because I trust to bitcoin and I know their potential in terms of marketing.

Definitely, It is a good buy a bitcoin drop that made bitcoin's price touch $3000 is an awesome opportunity  to buy bitcoins. and I do not think bitcoin will ever touch $2000 or lower but i am not sure with this, as we can see as of now, if bitcoin dips it will just temporary and immediately it will rally up again to stabilize it's price between $3000-$4000.

The current exchange rate of $3700-3900 is again slightly in "bubble" territory. But at a price of under 3000 USD I think it's a good buy for long time investors with money they can afford to lose - those that can forget the coins for some years and then profit when Bitcoin starts the next bullish cycle.

But I think that very likely the $2900-3000 range we saw three days ago will not be "the bottom" (I pretty much agree with this post of ParabellumLite). I expect the bottom to form in the first half of 2018. The bottom (most probably, if there's no bullish or bearish black swan event like an ETF or a fatal bug) can be anywhere between ~$735 and ~$2300, and I consider the $1300-$1850 level the most likely one.

But Bitcoin will only stay at that bottom for some days or, at most, some weeks. Most of the rest of the bear market Bitcoin will be much higher (2300-3500 area), with dips and "intermediate bubbles".

Hodl and buy the dips! Buy into paper wallets or physical (collectable) coins, that way its easier to hodl the btc. If you hodl on an exchange then you are too tempted to trade  

Good Buy bless you China and all fuders,bitcoin will recover and at the end of Year we will have new high
China is not so much important for btc than all people think.Japanise mining company has 90mln$ budget to start his oparation

Just by looking at the daily chart of Bitcoin right now I see that the volume is still high for it to be considered that it is losing its demand. Also seeing what happened to Bitcoin in September 15, 2017 (which a huge play happened) which Bitcoin has dropped down to 3000$ but it quickly jump back up to 3800$ and closed the day at around 3700$ obviously seeing this traders are not yet done on their profit taking, after all is done and everyone has bought Bitcoin at the bottom, I assume the price will go back up to 4000$ again.

Bitcoin prices have improved considerably in the last day. There is a positive stigma obtained and this is evidenced by the increased volume of bitcoin in various exchanges. For those who buy bitcoin at rates 3000 $ then it is a very good choice. Good buy and you get many benefits.

Yes I believe price will recover and it is time for a good buy. Even price is not that yet stable to buy at downtrend it will recover for sure. So buy btc while we can and hold for a long term to gain profit.

Well I'll go for 'Good Buy' as market is still recovering and bitcoin price will surely go up. So at this time it is a great chance to get more profit by getting it at a low price as it has a lot of potential and will definitely rise soon...

Answering on bullet 3 first.
Bitmain's mine employs roundabout 50 workers, according to some nytimes.com foto feature from this month.
They represent about one-twentieth of the world's daily new BTC or $318,000 dollars a day, at the time of print.
Each person is allowed to export 50,000 RMB or $7,201.
(This value has been 200,000 RMB two years ago, PBOC getting more tight)

So without hiring any money mules they could move 50x $7000 = $360,000 on their own, which is more than BTC production. Assuming they are not mining at a loss, costs < revenue

Oh wait, that rule by thumb calculation lacks timeframe. Daily versus yearly, I think those 50k yuan are an annual individual quota. Hiring mules makes things expensive, but at least there are enough chinese living in china who are eager to earn a buck (about a 10 digits figure). They need twelve 365 times more people than those fifty, just for one single tasks once a year, transfering money from Korea where the BTC got sold back into china. That could become a common job opportunity in 2018
    
Damn politics!


Bullet 1 and bullet 2 are actually identical, since "crypto investment funds" are equal to "Western markets". However they might want to buy in as cheap as possible, hence that dip vom $5000 down to $3000 which is a loss like -30% and got pumped back in a hurry once even daring to touch below $2900. A second bounce on that line would make people more confident?

I'm not worried. My bigger concern is all Segwit2x the 2nd part.

pretty much this, with or without china BTC is still the same so it's surely a good buy

It is not uncommon for the market of any asset to be bearish at one time or the other and yes in the coming month, as a result of the proposed hard fork by proponents of Segwit2x, the red line in the image below may be breached, but beyond that a huge rebound as always should be expected.
https://bitcointalksearch.org/topic/m.21909403

Obviously recent goings-on in the community and market already have answered all your questions and just in case you still want more:

1. it is the global market and not just the western market that are out and already absorbing every Bitcoin China is letting go;

2. Bitcoin is now legal in Japan and South Korea and companies are springing up, by the time China wakes up from their slumber, they would find themselves miles behind.

Today is a perfect time to invest because bitcoin price drop but it is now recovering, but for me it is still a good buy, and wait for the price to rise again. I think it will still rise and recover so better to invest today.

Apple is a nice company. Bitcoin is a nice cryptocurrency. If If banks/government threw everything they could at Apple, and the stock plummeted 33%, would you sell, buy more, of HODL the stock? I will be holding on to my BTC and buying a little whenever it falls under $3000. Wish me luck!

i already vote about bitcoin   "Good Buy".  of course it is a great chance for us for buy bitcoin at low price and get a lot of profit by hold long.  it is good time for investment also for those people,  who was unable to buy bitcoin and miss a chance before. i think bitcoin will rise up soon and will be able to recovered its loss