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Over the past few days the price of Bitcoins have dipped considerably and just like any dip period the amount of FUD is high and a lot of people believe that this is the beginning of the End for Bitcoin
When the Dip started a lot of people felt that Bitcoin Cash would rise up to the occasion and with Coinbase listing Bitcoin Cash, there was a considerable movement in the DIrection of Bitcoin Cash. However the Price of Bitcoin Cash have also dipped considerably over the past few Hours
The amount of Money that have left the Cryptocurrency market over the last two days in at the tune of over $120 Billion Dollars. It is believed however that this cashing out is mostly being done by those who bought at lower prices.
The downward trend in the price of Bitcoin however have been very disheartning for Noobs, especially those who bought at $19,000+. Simply telling them to hold is not helping matters.
The Media has also not helped matters, they have utilized this opportunity to tell everyone of how bad Bitcoin is and how dangerous it is to put your Money in it
Some parties believe that John McAffe is partly responsible for the dump. He started a Cryptocurrency evaluation series on his Twitter page this week. Where he reccomends good Blockchain projects to Invest in. The recent surge in the Price of Electroneum (ETN) a coin he reccommended recently had led many to listen to pay attention to him
Those who have been in the Crypto Space for a while now know that this is the best time to Hold and if possible buy more Bitcoins. The Bear Market is an opportunity to Invest more, it is also an opportunity for those who missed the lower price levels period of Bitcoin to Invest
This time is however a very trying period for Noobs who bought at the high price of $19,000+, Below is a tweet a drooped by a Bitcoin Investor on Twitter
I took out a $75000 mortgage, put it all in Bitcoin (at $19,422) and right now I have $48,639 left!!! DO I SELL OR KEEP HOLDING
He was advised to hold his Bitcoins, some people gave him a run down of previous Bitcoin dumps with complete with Charts
He later replied that he could not risk it due to his Children. He sold off all his Bitcoins
The lack of faith in Bitcoin is very shocking, It only takes a simple research for you to discover that Bitcoin has been through a lot and that the only way for it to die is if the Internet is shut down world wide at the same time, and last time I checked that it is not possible
To futher buttress my point, this is a tweet dropped by Robert Reid on Twitter
Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "Crash" has been followed by an increase of : 76%, 237%, 183%,165%,152%.
Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 step back.
Every 2 step back is heralded as the end of #bitcoin. Relax
He went on to use this Chart to illustrate his claims
I'll be honest, I do have some holdings, but I don't want to put cash into the market, so I'm doing my best to earn instead :)
Yeah @overkillcoin
I have never bought any Crypto with Fiat. All my Investment came from my Steemit earnings.
It also makes me take my Steemit blog serious.
@ogochukwu
Never invest what you cannot afford to lose. Too many people never follow such simple advice and end up in a worse position in life.
Glad to see you are doing what you can to increase your holding but not at expense of your financial being.
Hodl.
that's why you use only steemit for crypto-investments. It's the easiest way your only ''cost'' can be your time but i believe mostly everyone waste time everyday so instead use steemit guys and not be like the 75k mortage guy :P
One of the reasons why I love Steemit is because it is a place that enables me to learn all I can about Cryptocurrencies while earning one at the same time.
If the guy was in some where like Steemit, he might have gotten some capital without resorting to Mortgaging his house.
@ogochukwu
and in terms of logic mortgaging your house for something you have no idea what exactly is about is completely stupid but as they say everyone is different :P
Am happy to understand that The lack of faith in Bitcoin is very shocking, It only takes a simple research for you to discover that Bitcoin has been through a lot and that the only way for it to die is if the Internet is shut down world wide at the same time, and last time I checked that it is not possible, this means there is still hope for us all
Hello @ayemmanuel
Thanks for reading. There is a lot of education that needs to be done for the masses when it comes to cryptocurrency and that is an uphill task that needs to be undertaken.
@ogochukwu
it was a very informative article. correct opinion. Thank you
Thanks for reading @artizm
good points here @ogochukwu I followed you & will check your other posts, thanks!
Thanks for reading @steem-beat
That is such a sad tweet regarding the home mortgage. All kinds of bad decisions coming together to create a financial catastrophe. Sometimes we are our own worst enemies.
Thanks for the encouraging Bitcoin history lesson.
Thanks for taking out time to read the post.
The education has to be nonstop till everyone knows the power of the Blockchain to transform lives.
@ogochukwu
They will never, they are being controlled by a centralized system.
I am enjoying this drop of BTC, have recently earned some bucks by charging some commission while settling a deal between parties :)
Thanks @ghulammujtaba
The recent activities of Coinbase, Roger ver and CNBC makes me believe that the war against Bitcoin is Far from Over.
@ogochukwu
Only weak hands and noobs sell out of panic. Now I would heed the Warren Buffett's advice that he once said that as an investor it is wise to be “Fearful when others are greedy and greedy when others are fearful.”
Now I'm greedy and looking for cheap coins to scoop up 😁
Scoop away @greenrun
There is no going back. 😂
The Future is Green.
@ogochukwu
Just looking for the next coin that would do an EOS :)
I always thought electroneum was a little sketchy @ogochukwu. What's your view on it? Seeing as he MAY be behind the BTC drop
@barrister-batman
i have not really studied ETN so i cannot really say anything about it now. But generally it is a Nice Blockchain.
@ogochukwu
Literally dedicated the 4th episode of The Minnow's Playground on what to do during red days!
I feel bad for the guy who didn't hold his BTC smh
I wish I had some extra fiat to put into crypto right now tho! A ton of people are about to make a killing!
Thanks for reading @waphlip
Coming over to your blog now to view your latest episode of the Minnow Playground
You already know I got you bro! And thanks, I hope you liked it!
Look man, good writing but not a word about fees? Like $42 avg transaction fee? Look at btc.com and see the difference with bitcoin cash.
While it is true that Bitcoin is having issues with fees, but I believe that it is something that the Lightening network will solve.
Main steam media’s coverage of this was predictable and rather boring over their attempts to grasp at any clicks they could get at substandard articles.
As far as John having much of an impact I don’t think so. This was an expected sell off that many people have been waiting a while for now they just didn’t know when. I was expecting around Christmas myself. Recent massive upwards prices seem to indicate it be coming sooner than later.
While many people see it is bad. It’s just necessary with how much of upward movement cryptocurrency tend to have. Lots of big money start to sell on the way up and now they have opperu;nity to buy right back in and do it all over again.
Hello @enjar
You captured what happened beautifully with this line. They never wanted to cover Bitcoin, they just wanted all the Clicks they could get.
@ogochukwu
Well it takes absolute belief to HODL !
If you got that I advise people to invest in some strong altcoins
https://steemit.com/bitcoin/@altcoinrich/altcoin-outperformed-bitcoin-in-the-recent-bull-run
Thanks for reading @altcoinrich
Nice Meme
@ogochukwu