The Cartel want us to sell, but the system they offer in turn is a failure.
Topic: BTC/USD dangerously close to $8,000, but HODLers never give up - page 3. (Read 520 times)
Panic sellers worry that the price fall again to 6800 which was the last dip. But I think selling the coins is the worst thing any one can do.
Bitcoin price rose to 19000. Then it was corrected. Now the price is rising again. But there are some small corrections before reaching a new all time high.
Bitcoin price rose to 19000. Then it was corrected. Now the price is rising again. But there are some small corrections before reaching a new all time high.
Same scheme as with Fiat money. Richers getting richer. Those whales steal the money from new investors. If they do this pump and dump, bitcoin will not reach new ATH anytime soon.
Still hodling though. I'll sink with this ship if I have to.
Mad respect man. Lol.
But yeah, how is $8k a bad thing again? I don't think that's a bad support level in the least, considering we were stuck at sub-$7k levels for a while and people were predicting sub-$5k. Bitcoin is doing really well despite the overall bear market.
Bitcoin has lost nearly 6% over the recent 24 hours, crashing from $8824 on Tuesday to a low of $8,103 early on Wednesday.
A 6% decrease in the price in one single day isn't a crash, it's just normal fluctuation, anyone who hass been involved with Bitcoin for more than 6 months or so should know this. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
Understandable. Everybody jumped into the Bitcoin bandwagon back in December/January during the bull run, altcoins were completely forgoten as people wanted to invest in BTC, after the price went down everyone started looking for a new coin to earn profits and so it began the altcoin cycle = capital flows back into alts, also, a bunch of shitcoins started showing up, others were pumped by hype/dreams and hopes, meaning that the altcoin market cap was bound to go up while the btc dominance was bound to go down. We might not see that 85% dominance again since people have realized how profitable the crypto market can be without going all-in on Bitcoin. 
Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
It is normal for it to lose dominance now that knowledge about crypto have become widespread. People now are trying many different alts(and buying them up), then holding them with the hopes of earning more bitcoin and thus is the reason why we shouldn't be scared about it. And we also should only invest what we can afford to lose right?
You are right. Those who will be scared will not see the true reason why BTC is losing dominance temporarily(because of many investors holding alts with the hopes of earning more btc).I think it's just because people are diversifying more, knowing that crypto isn't entirely just about BTCBTCBTC, even if the majority of coins/tokens have their values tied up to bitcoin.
Well honestly at this point, it's kinda advisable to hold other tokens/coins with their own markets (not entirely tied to btc) rather than keeping your portfolio on solid BTCBTCBTC. Better safe than sorry.
Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
It is normal for it to lose dominance now that knowledge about crypto have become widespread. People now are trying many different alts(and buying them up), then holding them with the hopes of earning more bitcoin and thus is the reason why we shouldn't be scared about it. And we also should only invest what we can afford to lose right?
You are right. Those who will be scared will not see the true reason why BTC is losing dominance temporarily(because of many investors holding alts with the hopes of earning more btc). The fact that there are so many bullish signs and we're still falling in price worries me. If whales are manipulating the market and really have this much control, I'm wondering how Bitcoin will become stable enough for mass adoption in the near future.
Still hodling though. I'll sink with this ship if I have to.
Still hodling though. I'll sink with this ship if I have to.
Well that's the point there. Several reasons why the market plunges and we may even get under 8k but that really doesn't count a lot for hodlers since we're all looking beyond what's currently happening. There's a possibility that it will crash but being in crypto for years now i'm taking the risk. And we also should only invest what we can afford to lose right?
Bitcoin has lost nearly 6% over the recent 24 hours, crashing from $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319
You valuable thoughts are much appreciated.
I don't consider this as a serious price drop it is just 6%,anything under 15% is just a normal price swing of the bitcoin,so the price may again reach above $9K in a day or so,And I don't think that 85% dominance was just because of crazy rund at the end of 2017 but normally 40% is the dominance level of bitcoin after the numerous coins were introduced in CMC. Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319
You valuable thoughts are much appreciated.
There are definitely whales trying to manipulate the price down that's for sure. On GDAX the past few days there are constantly big sell walls popping up to try to push the price lower.
But it's probably just people panic selling. They see the price drops some and they throw their coins away thinking a crash is coming. As for now we're still holding the low 8000s support. It's been a month since Bitcoin has been below 8000. The price has been hopping up and down all over the 8000s the past few days. Hopefully the next move is another pump overnight or tomorrow back to the high 8000s.
But it's probably just people panic selling. They see the price drops some and they throw their coins away thinking a crash is coming. As for now we're still holding the low 8000s support. It's been a month since Bitcoin has been below 8000. The price has been hopping up and down all over the 8000s the past few days. Hopefully the next move is another pump overnight or tomorrow back to the high 8000s.
~ Many suspect that it is the workings of the Gox trustee again but for now, there are no confirmed reason/s as to why there had been a slump in terms of price.
nah, the Mt Gox trustee has never been the reason for the drops. the FUD about it and the panic that follows however have been the reason for the drops. this time it caused the drop below $9k but it has been days since that FUD, now it is just the good old manipulation dumping to push the price down...
It doesn't worry me one bit, considering that I'm in it for the long term. Also, market dominance, IMO, depends on how profitable a coin is up to a certain point. Obviously, people wouldn't want to trade against the heavy currents of a coin receiving lots of damage except for the shorters who, in the end loses against bitcoin. We're still in good shape even though we've lost a pretty good chunk of the price in the last 24 hours. Many suspect that it is the workings of the Gox trustee again but for now, there are no confirmed reason/s as to why there had been a slump in terms of price.
The fact that there are so many bullish signs and we're still falling in price worries me. If whales are manipulating the market and really have this much control, I'm wondering how Bitcoin will become stable enough for mass adoption in the near future.
Still hodling though. I'll sink with this ship if I have to.
Still hodling though. I'll sink with this ship if I have to.
Bitcoin has lost nearly 6% over the recent 24 hours, crashing from $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319
You valuable thoughts are much appreciated.
Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319
You valuable thoughts are much appreciated.
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