Unlike traditional stocks where you don't invest in a loss. I would say Bitcoin being commodity is opposite. It drops, buy more anyway, creating demand for it will keep it where it should be as almost everyone agrees. The issue is that a few bigger investors punched through the newly set BID's and the wall just let it freefall farther and farther because there wasn't any VOLUME.
I plan to buy at any level whenever I have leftover pay, and buy with btc only on trade, and try not to ever convert it back to fiat.
Topic: Crash/Pop of Bitcoin ... NOT! (Read 1447 times)
Exactly!
Even if the price drops to $20, bitcoin will still have outperformed every other fiat currency this year.
Even if the price drops to $20, bitcoin will still have outperformed every other fiat currency this year.
we've seen this so many times.
24 to 48 hours, big green candlestick. Just watch, seen this pattern too many times.
we've seen this so many times.
I agre, BTC, LTC and other crypto currencies are the future.
Looking back 20-30 years from now when the last BTC are being mined
no one will remember this 'little' crash. Its just a tiny drop of the entire
currency bucket.
Yes, it seems like a big deal now but in retrospect this is nothing.
BTC will be back and higher than ever in 1-2 weeks tops
im selling all my tangible assets to buy BTC & LTC right now while its so low!
The whales(wallets with huge amount of BTC in their accounts) will soon buy up like crazy.
at these extremely low rates, Most of these whales (big spenders/investors) will then buy up
the enormous discounted price and doubling their profits shortly after
Looking back 20-30 years from now when the last BTC are being mined
no one will remember this 'little' crash. Its just a tiny drop of the entire
currency bucket.
Yes, it seems like a big deal now but in retrospect this is nothing.
BTC will be back and higher than ever in 1-2 weeks tops
im selling all my tangible assets to buy BTC & LTC right now while its so low!
The whales(wallets with huge amount of BTC in their accounts) will soon buy up like crazy.
at these extremely low rates, Most of these whales (big spenders/investors) will then buy up
the enormous discounted price and doubling their profits shortly after
Except I'd say it's not done correcting. Remember that this bubble started when 1BTC was $20 in February. It then doubled in a month, which is enough of a bubble right there, but then kept on doubling until it went over $220. So this crash still puts it at more than triple what it was before it started (as of today). But when a bubble pops, it doesn't pop to triple what it was, it pops to less than what it was due to a scare. So if 1BTC will go as low as $15 that wouldn't surprise me.
Keep in mind that the fundamentals of Bitcoin hasn't changed since this downturn (I won't call it a crash or a bubble burst because of this reason.)
All that happened is some "investors" got spooked. If you got burned by recent events, then I'm sorry for your loss but you' re a crappy investor. Don't give up your day job (maybe one day you'll be paid in Bitcoins and have some.) Bitcoin is not an investment vehicle, it's an exchange commodity. Go back and read more about Bitcoin basics, it's not rocket science/brain surgery.
Bitcoin's value to other currencies is irrelevant. Since Bitcoins are infinitely divisible, you'll always have some no matter where you get in (don't let the 8 decimal places fool you. When we get there, we'll just adjust the protocol to add more decimal places, just for you Johnny-come-latelys.)
Bitcoin's amazing attributes over all others forms of currency is still there, unlike social fads, fraudulent/bad/unsustainable business models, third party controls, frauds, confiscations, regulations, etc. Typical crashes and pops are usually indication of a significant underlying change of your investment. A company forecasts slow growth and all hell breaks loose. Bitcoin won't (and shouldn't) suffer from this because Bitcoin fundamentals and attributes haven't really changed.
Bitcoin is what it is ... always ... just as revolutionary today as it was 4 years ago and that's why this blip will be a distant memory very soon.
So, chillax people. Bitcoin ain't goin' nowhere.
As for you greedy people out there, you're doing it wrong.
All that happened is some "investors" got spooked. If you got burned by recent events, then I'm sorry for your loss but you' re a crappy investor. Don't give up your day job (maybe one day you'll be paid in Bitcoins and have some.) Bitcoin is not an investment vehicle, it's an exchange commodity. Go back and read more about Bitcoin basics, it's not rocket science/brain surgery.
Bitcoin's value to other currencies is irrelevant. Since Bitcoins are infinitely divisible, you'll always have some no matter where you get in (don't let the 8 decimal places fool you. When we get there, we'll just adjust the protocol to add more decimal places, just for you Johnny-come-latelys.)
Bitcoin's amazing attributes over all others forms of currency is still there, unlike social fads, fraudulent/bad/unsustainable business models, third party controls, frauds, confiscations, regulations, etc. Typical crashes and pops are usually indication of a significant underlying change of your investment. A company forecasts slow growth and all hell breaks loose. Bitcoin won't (and shouldn't) suffer from this because Bitcoin fundamentals and attributes haven't really changed.
Bitcoin is what it is ... always ... just as revolutionary today as it was 4 years ago and that's why this blip will be a distant memory very soon.
So, chillax people. Bitcoin ain't goin' nowhere.
As for you greedy people out there, you're doing it wrong.
Jump to: