calm down
be patient
your investment will be back
Its not easy to calm down for few investors when the rate is fluctuating and declining at this rate..! but yeah the its wise decision to calm down. be patient
your investment will be back
Topic: Crash! price of BTC (Read 2910 times)
End of quad digits at the end of this year!
seems chinese really had a lot of coins
Yes. They had hundreds of thousands of Bitcoins. But looking at the BTC-China volumes, that constituted to less than 20% of all the circulating Bitcoins. I think the American users are holding more coins than anyone else.
I believe the biggest bitcoin exchanges in China are OKCoin and Huobi, though some say the trade volumes are fake.
Thats true. We cant verify which orders are real, similar to the Gox Price hype.
Aka Phantom orders, or whatever it was called. I can link it as well, but I`m sure you already know.
I read they have no trading fees, that would explain the high volume. Not sure how they pay the server costs then though.
calm down
be patient
your investment will be back
be patient
your investment will be back
seems chinese really had a lot of coins
Yes. They had hundreds of thousands of Bitcoins. But looking at the BTC-China volumes, that constituted to less than 20% of all the circulating Bitcoins. I think the American users are holding more coins than anyone else.
I believe the biggest bitcoin exchanges in China are OKCoin and Huobi, though some say the trade volumes are fake.
Thats true. We cant verify which orders are real, similar to the Gox Price hype.
Aka Phantom orders, or whatever it was called. I can link it as well, but I`m sure you already know.
seems chinese really had a lot of coins
Yes. They had hundreds of thousands of Bitcoins. But looking at the BTC-China volumes, that constituted to less than 20% of all the circulating Bitcoins. I think the American users are holding more coins than anyone else.
I believe the biggest bitcoin exchanges in China are OKCoin and Huobi, though some say the trade volumes are fake.
China is a big backer, esp the latest news on the btc atm in china.
This actually should effect the price by a lot. If not, it will be as more main landers adopt btc. You can argue, but the main US debt holder is china, and china wants to figure how to dump the debt in some form.
Also the increase of population of middle class is way bigger.
This actually should effect the price by a lot. If not, it will be as more main landers adopt btc. You can argue, but the main US debt holder is china, and china wants to figure how to dump the debt in some form.
Also the increase of population of middle class is way bigger.
it means if their popularity in America climbed the top, the Chinese market will not so much affect on the situation
seems chinese really had a lot of coins
Yes. They had hundreds of thousands of Bitcoins. But looking at the BTC-China volumes, that constituted to less than 20% of all the circulating Bitcoins. I think the American users are holding more coins than anyone else.
Also the Chinese doing the same thing,
http://www.ibtimes.co.uk/bitcoin-price-crashes-chinese-exchanges-halt-deposits-1444182
That's I believe is because of government ordershttp://www.ibtimes.co.uk/bitcoin-price-crashes-chinese-exchanges-halt-deposits-1444182
Of course it is.
Btc is a threat to them
Today its around $419.6
yes, 420$ on Bistamp
it's more or less stable on a 400-450$ basis since the 1000-->450 correction
Today its around $419.6
bitcoin price has recovered over past 24 hours.
my money is going down every minut, is 390 $ for today
Whats the main reason of crashing ?
90% of it is due to the Mt Gox scandal. The news was splashed across half the world by major media outlets. Media celebrated the incident. The remaining 10% is mostly due to China.
I would not concern yourself too much with the recent bitcoin downside prices this is just the reflection of the price in given a momet in time. Price can go all directions from todays price. There are however some things you need to bear in mind:
First of all when you started investing into bitcoin, you should have asked yourself why am I getting into this ?
In most cases, people invest in bitcoin because they heard of its success and want to earn money, believe that it could be a revolutionary idea or are anarchists who don't trust the entire economic system and have certain intentions with it. You should first think why you got into bitcoin.
Personally I heard from it from a friend, who told me about it in September 2014. I read about it and it seemed a good idea to me to invest a small portion of my capital in bitcoin because I would like to leverage my money and earn on the volatility of bitcoin.
Many claim that this ruins bitcoin by itself, but those people are ignorant in my eyes because speculation and exploitation are all part of the game. Moving on to the next question you should ask yourself.
If you decided why you want to get into bitcoin you have to risk money. Money management is very important and people should keep this important topic in mind and never forget it ! What money can you lose without feeling so bad about that you won't sleep anymore? You have to understand that however some people are claiming bitcoin will go to zero this month, there are also people who tell you it will go to the moon this month. Opinions varie, have your own opinion ! Decide what budget if your capital you wish to invest in it and then do it accordingly to the ' fundamental reason you joined in'.
Then you should look at timing. Current prices look like an opportunity to me. The markets have boomed and busted and the pessimisme of the people is slowly shifting towards a more positive outlook on bitcoin. One who is new to bitcoin and one who doesn't get on top of all the topics may not see this, but I personally do. So I'd say this price is a buy moment. YES, prices may go below the 400 support barrier which was already breached yesterday and a lower support around the 300-350 zone may be hold before bitcoin stabilizes and heads up. No one can tell you this, you can counter this and create an edge and wager your chances, but you can never tell with certainty !
In my eyes the chances for bitcoin to drop a lot lower are very small, even with the recent China ban being announced. Nonetheless it can and may happen. The moment of buying in depends on the time you can put into timing your buy ins. If you have to go to work and cannot read up on bitcoin a lot I recommend buying in at this price for 50% of your initial investment capital.
If I look at the big project running, like Secondmarket and other developments It seems to have a very small chance that bitcoin will drop a lot more on a longer term basis ( few months ). Many may disagree but this is my view on bitcoin. I don't believe it was a bubble and that it busted and will fail now, I think that yes it was a increase and people are cashing out + the aditional news also filters out all weak hands, but if you look at the fundamentals it still has a good chance in achieving.
Stay smart, weigh your odds and whenever the odds are in your favor you can take a calculated risk with the correct money management and it will pay off! Buy in at low prices like these and you won't regret it if you manage to mentally hold the money for a longer period of time. That's my 2 cents
First of all when you started investing into bitcoin, you should have asked yourself why am I getting into this ?
In most cases, people invest in bitcoin because they heard of its success and want to earn money, believe that it could be a revolutionary idea or are anarchists who don't trust the entire economic system and have certain intentions with it. You should first think why you got into bitcoin.
Personally I heard from it from a friend, who told me about it in September 2014. I read about it and it seemed a good idea to me to invest a small portion of my capital in bitcoin because I would like to leverage my money and earn on the volatility of bitcoin.
Many claim that this ruins bitcoin by itself, but those people are ignorant in my eyes because speculation and exploitation are all part of the game. Moving on to the next question you should ask yourself.
If you decided why you want to get into bitcoin you have to risk money. Money management is very important and people should keep this important topic in mind and never forget it ! What money can you lose without feeling so bad about that you won't sleep anymore? You have to understand that however some people are claiming bitcoin will go to zero this month, there are also people who tell you it will go to the moon this month. Opinions varie, have your own opinion ! Decide what budget if your capital you wish to invest in it and then do it accordingly to the ' fundamental reason you joined in'.
Then you should look at timing. Current prices look like an opportunity to me. The markets have boomed and busted and the pessimisme of the people is slowly shifting towards a more positive outlook on bitcoin. One who is new to bitcoin and one who doesn't get on top of all the topics may not see this, but I personally do. So I'd say this price is a buy moment. YES, prices may go below the 400 support barrier which was already breached yesterday and a lower support around the 300-350 zone may be hold before bitcoin stabilizes and heads up. No one can tell you this, you can counter this and create an edge and wager your chances, but you can never tell with certainty !
In my eyes the chances for bitcoin to drop a lot lower are very small, even with the recent China ban being announced. Nonetheless it can and may happen. The moment of buying in depends on the time you can put into timing your buy ins. If you have to go to work and cannot read up on bitcoin a lot I recommend buying in at this price for 50% of your initial investment capital.
If I look at the big project running, like Secondmarket and other developments It seems to have a very small chance that bitcoin will drop a lot more on a longer term basis ( few months ). Many may disagree but this is my view on bitcoin. I don't believe it was a bubble and that it busted and will fail now, I think that yes it was a increase and people are cashing out + the aditional news also filters out all weak hands, but if you look at the fundamentals it still has a good chance in achieving.
Stay smart, weigh your odds and whenever the odds are in your favor you can take a calculated risk with the correct money management and it will pay off! Buy in at low prices like these and you won't regret it if you manage to mentally hold the money for a longer period of time. That's my 2 cents
Whats the main reason of crashing ?
90% of it is due to the Mt Gox scandal. The news was splashed across half the world by major media outlets. Media celebrated the incident. The remaining 10% is mostly due to China.
-snip-
Epic post is epic, and I agree with pretty much all your points, so well done, sir. +1 internets to you.
Epic post is epic, and I agree with pretty much all your points, so well done, sir. +1 internets to you.
Thanks
There are few things that are wrong the system of BitCoins, and mark my words if those things don't get fixed there will be no future for BitCoin.
1- there are too much risk involved in carrying BitCoin, as it takes only to someone to reach out to your private key and all your money is gone and never back! No way to get it back even if you can trace it. While by putting my money in the bank then I have protection against theft, or even better I can pay "life lock" to insure my money. There is no insurance with BitCoins.
2- Transaction fees. when I buy something from Amazon then they carry the transaction fee as Amazon pay the credit card processing company fee for each transaction (such transaction I don't have to worry about since amazon carry it its self), with BitCoin there is no double spending or rejected credit cards which is good for the merchant, however there is a transaction fee that the buyer has to pay (which goes to the miners) so it ends up that I have pay
1- the price of the product
2- tax (if applicable)
3- transaction fees. And this is an extra fee I have to carry if I use BitCoin, which I don't have to worry about if I use my credit card.
Basically and again, BitCoin is good for merchants (if they are willing to carry the fee) but it is not good for the average user who can use cash and avoid the transaction fees.
BitCoin is not cash, that's the truth, may be it wasn't meant to be cash but it isn't anymore. it is now only a mean to trade and may be (may be) a mean to save if the market doesn't crash which also can be avoided by buying gold instead.
1- there are too much risk involved in carrying BitCoin, as it takes only to someone to reach out to your private key and all your money is gone and never back! No way to get it back even if you can trace it. While by putting my money in the bank then I have protection against theft, or even better I can pay "life lock" to insure my money. There is no insurance with BitCoins.
2- Transaction fees. when I buy something from Amazon then they carry the transaction fee as Amazon pay the credit card processing company fee for each transaction (such transaction I don't have to worry about since amazon carry it its self), with BitCoin there is no double spending or rejected credit cards which is good for the merchant, however there is a transaction fee that the buyer has to pay (which goes to the miners) so it ends up that I have pay
1- the price of the product
2- tax (if applicable)
3- transaction fees. And this is an extra fee I have to carry if I use BitCoin, which I don't have to worry about if I use my credit card.
Basically and again, BitCoin is good for merchants (if they are willing to carry the fee) but it is not good for the average user who can use cash and avoid the transaction fees.
BitCoin is not cash, that's the truth, may be it wasn't meant to be cash but it isn't anymore. it is now only a mean to trade and may be (may be) a mean to save if the market doesn't crash which also can be avoided by buying gold instead.
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