OK, I'll cut straight to it. I see all these people saying "Yeah it will be fine" and "it always bounces back".. etc etc..
But ARE these people just saying it with hope or actual knowledge?
Are the banks and big hedgers truly suppressing in order to scoop up more BTC cheaply?
As far as I knew from last week (or so the news went) Saudi Arabia was going to be highly involved in btc and I presumed the price would boom again. I love BTC and I love anything to do with crypto, but I'm truly scared and anyone that says they're not I think are either just trying to keep a straight/strong face, and are basically all as scared as me.. (well I hope they are, as this shit is getting serious).
I'd love to hear some truth and real thoughts.
Cheers'
Paul
Because this has happened multiple times before.
Right now some great long term bull news is passing under the radar because in crypto bear markets all anyone cares about and the news that gets spread around the most is all the negative things. We've had several hacks recently including the largest in crypto history, you had the fizzle out of wall street bitcoin futures as people got all excited about it then it was kinda like yeah who cares its not a huge market when the futures markets actually started which was a kinda of buy the news sell the event situation, you had coinmarketcap excluding korean exchange prices from their tallies so one day it suddenly looked like crypto had dropped a bunch which caused a huge panic, you had fake news about korea banning crypto, you had people reacting negatively to the real news about korea highly regulating crypto, you had fake news about india banning crypto, real news about india wanting to highly regulate crypto, you had the bad news about bitcoin transaction fees skyrocketing in december and january and transactions taking forever, we just had a bunch of major credit card companies decide to no longer allow crypto purchases with their cards, we've had various people in the financial industry say awful things about crypto, and today's news that again made the market crash is China is completing their ban by blocking foreign exchanges so chinese citizens are completely shut out of the crypto trade, we also had news about some places like Steam not accepting bitcoin anymore.
Meanwhile quietly without making any effect on the market cuz right now people only care about the negative news, we've had a series of things showing the long term growth of crypto. Square started doing crypto buying and selling to select users and now they just opened it up instant crypto buys to everyone. Robinhood will start gradually opening up crypto investing to its users this month. Those are basically the first two competitors for coinbase. That's huge bullish long term news. LN is progressing and some people are even already using it on the bitcoin mainnet, though it probably won't really be ready for production until late this year I'd imagine. Blockchain.info, coinbase, and bitcoin core wallet are all working on implementing segwit and by summer segwit should be used for most bitcoin transactions, thus greatly alleviating the transaction problem for the short term. Coinbase also said it is working on batching their transactions which will also greatly allevaite scaling issues for the whole bitcoin network. Everyonce in a while you hear about new stores starting to accept bitcoin. Occasional good news about other Bitcoin upgrades making progress. Korea just said while they are strictly regulating crypto, within those regulations (to make sure things are done legally) they want crypto to flourish in their country. China with todays total ban will have less ability than ever to negatively affect crypto once this news passes in the next 24 hours.
Plus we're also back to where bitcoin was before the last boom in november and december. We could be right around the bottom of the market now. Might still be a few months of ups and downs as things as the trend reverses, but I'd say if you take a view for the whole of 2018 then by the second half of the year we'll probably be well past this bear market.