Source: http://www.zerohedge.com/news/2017-11-29/bitcoin-plunges-back-below-10000
It’s important to talk about Bitcoin when it goes down...as well when it goes up.
Bitcoin’s chart is littered with tremendous % pullbacks and taking time to base before making new highs again. Is it painful if your bought at $11, 395....and now it’s down to $10,000? Yes....of course...let’s not be silly.
However....what changed about Bitcoin vs the Dollar today ? Nothing
1.) Did the US just solve that US Dollar will not be used less and less in oils trades? No....China will slowly become the new kid not the block with their Yuan-Gold Backed currency used for the oil trades. This means all countries will need less and less dollars in global trade.
2.) Did Bitcoin or blockchain get hacked ...? No
3.) Did Ethereum lose it’s “smart contract capability” ? No
4.) Is there more or less hedge funds and institutions told to “invest in cryptos”? More and more hedge funds will be buying of course...they have not even started buying.
Did you get a good smile at the Gold/Silver smackdown today with paper fiat money? Right on cue.
In closing thoughts, cryptos and the precious metals moves will be on-going for many years.
This is not investment advice....
should buy every dip a little at a time in bitcoin, not in PM, as not sure how long is the manipulation, people might go insane waiting
The dip was so quick...as I look right now it has rebounded quite a bit. Maybe next time. The PM’s will get hit like this until they don’t — meaning the cabal is finally broken.
Remains bullish
Yes... i think so.
Bitcoin often kike that. Pne time increase , one time down and ever. We do not know how it happen. Based me in 2018 later, bitcoin will be down until 5 usd. You can belibe that. So i suggest you, if you have a little bitcoin now, sell fast. Font wait
The uses have crypto have barely evolved and trillions of dollars will be flowing into crypto over the years. Be careful in how much you invest and patience for me.
I actually totally agree with everything you just said. Do you also believe that cryptocurrencies are still in their infancy and what were seeing today in btc value will be considered pennies to the bitcoin 2 years from now?
I do believe we are in the very early understanding and usage of cryptos. I suspect the early adopter phase will go for 2-3 more years. It’s not ready for everyday use....but people are migrating from the dollar. Others see it like gold and store away. Many people with different ideas. These will be interesting times.