Topic: Interesting day... Telling (Read 755 times)

That is a possibility but for the people doing that they are going to be in a better shape if instead of looking for every minor movement in the price they simply work harder and get a job and then they invest at bitcoin at any time, the money they are saving by watching the market in that way does not seem to be worth their time.

You should be interested to see minute changes too because when it comes to economics any commodity that has a steep increase in price in a very short time will not last longer,it will come down crashing,i like to see a sustainable growth with real investors and not just hype and speculation alone,i can speculate why the price increased in the past few days because of the fork,will the rapid increase in price last like this for a long time,it might not.

So anyone who already knows about bitcoin and hopefully bought at least some fracture of it should be considered very lucky.
According to the predictions and expectations, we may still see a huge price increase in the future.
What will you say to your future self if the price of BTC will reach $100k in the future? You can still buy it for $5k-$6k USD now!

You are correct but for someone like me that is waiting for the price to go really high in order to sell even these prices are very low, I’m not going to risk it, since I'm not a very good trader, so I prefer to take the safe approach and hold every single bitcoin that I have and I’m not going to sell until it reaches my target price.

Prices not going higher than 6000 or going higher cannot really be known at this stage. However, for someone who knows that the long run will bring much great value should just HODL than gambling where the price would turn to eventually. It even seems more risky at this stage and it is best to just wait until after the fork to see how things would turn out.

Really? Why would you even compare it in such way.Bitcoin has an intrinsic value which is one of the main reasons the demand is getting higher everyday and of course with higher demand, the higher the value.

Gambling is just a game of luck and does not add any value to you or the world in general except for just fun and entertainment. However, if you wish you want to get out, since you see bitcoin only as a profit scheme and not the value it brings in the future, I believe no one will stop you. At least you are helping the supply chain and we can get it cheaper from you.

I think gambling is riskier than bitcoin because in gambling you can never know when you will win and earn money but in bitcoin you can be sure that bitcoin will rise even if it drops tremendously, that is why you are sure that you can get something from investing from it.

Have you ever been in a casino? There, too, can earn a lot but if time does not stop then everyone will lose. It seems to me that bitcoin is also very similar to casino. Will benefit only those who time to stop. The only difference is that in a casino you have nothing to lose when you stop because the game is on the Fiat.

Come on - this is not any different from any other timespan, ups and downs all the time. Why exactly do you think this is special?

Certainly agreed too. This is my way of thinking, positively but practical at the same time. It would be much a risk to hold for years and wait for the moon to come. That is a disastrous situation that will highly happen sooner or later. Are we going for the biggest fruit when we’re hungry or the one that is hand reachable to you. So being a pratical person is not a weakness but a strong signs of determination to face reality.

I would argue that a lot of people who don't have as much as you do are very interested in the micro fluctuations in Bitcoin as well. People who are also looking to buy huge volumes want to use every dip to their advantage in order to get the most out of price rises.

Maybe you should track every price fluctuations by the cents and not dollars mate, no one is interested in any price change less than $500 anymore.

As the community grows people will expect more from Bitcoin, it was less than a year ago when I was checking on my wallet and seeing instead of

$2000 I had $2007 I was happy and I knew other people are too, now my $12000 is $30000.

Well it is an exaggerated point of view on how much we can see the value of bitcoin but I think that would be the time when the supply of bitcoin depleted even more and demands would sure rise even more when you can see that kind of a picture by thinking it can happen then the value would go straight up even more if not in a million mark value it will be near that level, but yes it is too early for me to think about it but then I can have plenty of time to earn, trade, and invest with bitcoin.

There is other way to not losing the    opportunity to make benefits of bitcoin if the price was not reach $6k it is because there are people are satisfied or whales are there selling their bitcoin and encourage other people to sell bitcoin.
So the other strategy that i mean is just selling only percentage of your bitcoin for current price or $5800-$5900 to get the benefits of the price increase today so the rest  sell them if the price break $6k value..

It is not an awful move to sell some bitcoin now regardless if it will rise or not, since no such thing is certain to happen with bitcoin within the short period of time until fork on November. Therefore, selling some of your bitcoin now is a wise move specially when you have earned a hefty sum of profit already from holding. I know that some people held their bitcoin from 2015 up to this point and for them it is a great time to sell now. There is a risk in holding btc at the moment specially that fork is near, the chance that it will go down in price is relatively high.

If prices cant go higher than 6000$ level there is no other way other than selling in top.Maybe catching top is not easy but smart lucky guys can predict price levels before entering position. Bitcoin is volatile and risky nowadays,be careful with short term trading.

If you think the price is going to go that high then there is not much of a point to sell your bitcoin to get some small earnings just keep holding, I know that you can get profits with trading but you can get losses too so there is not much of a point in risking your bitcoin.

That is a pretty elaborate explanation you got there and you are very detailed in explaining how bitcoin turn into a Roller Coaster ride for them, but eventually everyone is excited about Bitcoin price, the All Time High it break and we are experiencing a new heights when it comes to the price,

But I think I would not be the one that would sure be not too exited with the hype in selling when the great price had met, or convert your bitcoin to a safe Fiat Currency then would buy back again when the price goes down, because my hype is in the future of bitcoin and what kind of value awaits us, and when the price would become 1 BTC is equal to a million Dollar.

The flow chart looks like a roller coaster ride... so many up's & downs.  Kind of surprised me.  Starts off sitting around the 5499-5500 border.  Quickly climbs to the 5600's, and then mid 5700's, a rebound I expected.  Then a brief drop back below 5700 (high 5600's), which I also expected.  But then it abruptly halted, and picked up steam again, climbing as high as $5844, and then inevitably hit a wall and collapsed back down below 5500 again (5454).  But then rose again above 5700 quickly, to 5707.  But then once again began another decent, down in the 5600's.

I would have expected all of that to take place over the span of a few days... not 1.  There was/is a lot of action.  This tells me 2 things (at least).  1)  More people are tired of just sitting idly by on the sidelines and "holding", they are taking risks and moving their money around, trying to maximize their profits.  They saw several opportunities they missed to make some money off of swings like these.  They're recognizing trends now and trying their hand at cashing in on them.  No longer will they be left holding their, well... Trezor's, while prices drop from 3K to 2200 in 1 day.  Or 4400 to 3700.  Or 4900 to 4200.  Or 5900 to 5400. Or... you get the idea.  Or miss out and not have as much money to re-invest as they'd like to when they forsee the price rising from 4800 to 5600 in one day, because they didn't cash out their profits from earlier triumphs to re-invest later on.  

And 2)  All of this movement shows that people are expecting a change in the near future.  Whether the change is for better or worse isn't really the main issue, as odd as that sounds, at least not in the immediate here & now.  That is a matter of opinion, and yet to be seen.  It's an unknown... an uncertainty.  And uncertainty, unfortunately, is not a good thing.  It breeds an atmosphere where there exists a lack of confidence.

Add that to a general shift in philosophy that will undoubtedly result in a lack of stability and said uncertainty only grows, and confidence only shrinks (as a whole)... but not to select individuals.  They see this as their chance to fulfill their dream of making it big, and why shouldn't they?  That's what they got into this thing for in the first place.  It's every man (and woman) for himself now, and this competitive nature will make the people who have done their homework (and a little luck doesn't hurt either) quite wealthy, though the community as a whole would suffer as a result.  I expected this time to come eventually as the value grew and people recognized so many missed opportunities playing it safe for the long run.  How much of it could they take, really?... if you can't beat em you join em.

I just call it how I see it, and the amount of trading yesterday was pretty compelling evidence of it despite being a feeling out period in general right now where most people aren't exactly sure what to expect.  Which again feeds the uncertainty.  I still think signs point to a decline in the short term.  But while it'll be a bad thing for BTC as a whole in the short term some people that otherwise would have had their assets stay stagnant will improve their situation.  Survival of the fittest now... err more accurately, most well informed.  Oh and yeah of the luckiest too... definitely that, perhaps above all else.