Today was for sure the toughest day for bitcoin holders since I started investing on crypto. Because of these, I just wanted to share with you this tweet from John McAfee:
Looking at this we can understand that even when this has been the hardest fall for bitcoin in the last couple of years, it's been quite normal to see bitcoin reach high prices just before the end of the year just to see a hard pullback in the first few weeks of the new year. And then again, after those few weeks it has been it's usual behavior to rally back up to it's previous levels (and sometimes even higher. Way higher).
If you got into bitcoin just to speculate and make a quick return and bought at near ATH price, I can understand why are you selling (if you didn't already). But if you came here because you believe in the possibilities that BTC and all of the other altcoins mean for real economic freedom and because of the technology, sell only if you think you will be able to buy again at a lower price. If that's not the case is just time to be calm and hold your investments. You'll only lose if you sell.
And then, when you sell and watch in a few months the price go higher than ever, you'll buy again just to sell again when it goes down, taking you into a vicious circle of failed investments.
This is the time to trust your judgement and keep the same strategy. This is the time to be patient. This is the time to hold.
I don't ever see BTC coming back. The excessive fees and transaction backlog will never be able to be corrected. It's dead. Get out while you can.
Jejeje, I'm pretty sure this is what many people thought every time BTC crashed. And every time it came back stronger than ever
Feeling optimistic here. I bought 3 BTC with fiat today.
I've mostly moved out of BTC. Onto other coins.
Damn it. I wish I had the money right now to do the same
not only do you have no money )))
Same here, but 0.05 BTC :))))
It's totally right to be optimistic! As I am always trying to explain in my articles there is just no reason to fear that the crash is coming.... It seems like people are beginning to understand it! :)
Damn friend, you got the money. I just sent some £ to Bitstamp to buy BTC, but that will take a day or two to arrive. I'm looking forward to RobinHood coming to Europe (or similar). It'll boost the adoption of BTC and Cryptos to the mass market as it'll be the fastest and easiest (arguably safest) way to buy BTC from fiats. Looking forward to the Feb/March Rise!
same, bought some more at $6750... unfortunately started a bit too early at about $10k, but live and learn :)
red market
Buy when there's blood in the streets. Its a second chance to anyone who thought they missed the boat.
Very well said. If you got in this a year ago with mindset of long term investment then you should be calm and let the long term come to frutition. If you only invested what you were willing to lose then again you should be ok now. If you invested your life savings at near ATH that’s another story. Rule #1 Don’t invest more than you are willing to lose. Steem On !
No reason for panic ( if you didn't invested borrowed money :-) )
Buying something as volatile as Bitcoin or any other crypto with borrowed money sounds like a really bad plan :P
It would explain a lot of the panic selling, though.
Hehe, yeah, maybe that's why people end up with panic selling their crypto..
Or maybe it’s the best plan anyone has ever had.
It’s bound to be one of the two.
Do you really think it is a good idea to buy crypto with loans? Even if the cryptos rise in value, the people would need to sell pretty fast in order to not get insanely high intrests, so they can't really hodl either.
No I’m definitely just kidding lol but if you got a loan at prime time and got 100 percent gains, one could get lucky.
Ah, it makes a lot more sense now that I realize that you were joking ;)
I hear this all the time people using credit cards to purchase crypto. I have even heard of some people putting a second mortgage on their homes. This is a terrible idea, please only invest what you can afford to loose. Feel free to uplike and follow, I tend to return the favor.
Yeah, that's a terrible idea! This is one of the problems with crypto these days; people still think it is a get-rich-quick scheme, and attitudes like the ones you describe can easily ruin lives :(
Well said my friend
My friends are begging me that I am going to invest their money into cryptos :D
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The blockchain technology is the important factor!
That's true. The real potential is in Blockchain indeed.
Without a bitcoin there wouldn't be a blockchain
My understanding is that bitcoins were created to reward miners for keeping the network up and running. The blockchain is the main idea, bitcoins are simply a tool to incentivize people to run mining nodes and keep the network intact. I could be wrong though.
Only the bitcoin block-chain. That's for bitcoin and Counterparty assets
It's the oposite, Satoshi Nakamoto wanted to create digital P2P money. And then, as a solution to solve the double spending problem he came up with the idea of the blockchain as suplement of bitcoin, as the force behind it. But again we would not have a blockchain without bitcoin
I love these visualizations
hopefully it will turn around once the people that want out has gotten out. Feeling optimistic that buyers will stabilize it eventually.
Just wait till China softens its stance. The flood will be epic.
Time for my favorite meme
Jajajajajaja. I'm definitely going to use it
Jajaja let’s share his bravery!
hahahaha brilliant
Buy the dip lol
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I think people misunderstood what crypto is. I think most people think this is a quick rich scheme.
And the media use this chance to fool around with these people by SHILL coins to the max then spread the FUD. And then say I told you so it's a bubble.
It kinda piss me off when I see headlines exactly when bitcoin drops. I think they have prepared the article already and wait the price to go down then post it.
To be fair, there was a lot of publicity when the price was rising every day. That's what brought so many people with weak hands to this market in the first place
So true. The media is trying to make a scenario where these new money are the players. To buy the high (the hype) and sell the crash (the FUD).
Probably most of them don't even know the fundamentals about blockchain. I guess that's how the market works.
I agree with you. Misinformation is playing a big role in the whole thing
I think that's just how the media roll these days. They are trying to make money to from bitcoin's volatility by selling hype and FUD.
But the "Get Rich Quick" perception is absolutely correct...everyone who bought in the past made huge gains, but now it's known in the mainstream and millions of investors rushed in....the days of the easy money are gone, it's the same with all things, whether joining a company or buying a stock, the early entries win big and the rest fight for scraps relatively speaking. BTC may have a super bright future, but even if everything goes well, you won't get the performance in 10 years that you got in just a few months of investing in the past. It's just math.
People who make the most money are those before the hype. I think the media hasn't done with bitcoin now because it's lost 70% from ATH. I guess we'll have to see what kind of news are coming next.
I believe blockchain technology is going to stay for a long time. The government is trying to control it. The media is trying to get something to write which makes the hype and the FUD a good source of articles. Imagine how many clicks they get when bitcoin lost 30%?
A lot of people who bought at the top of the bull market are getting badly burned if their selling right now
And believe me, there are a lot of these
For the rest of us, we should look at what is happening right now as an amazing opportunity. Results are not guaranteed, but I believe they are still likely. The prices will go back up and everyone who sold low will kick themselves on the bruise they formed when they kicked themselves the first time.
I really fraustrated.
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Google image
It's just a bubble
@johanalejo To play devil's advocate here, the HODL argument is based on that you want others from selling their cryptos so that your cryptos don't lose more value which means you have an incentive to keep people on the "crypto koolaid"
This is not an attack on you, when it comes to cryptos I'm actually clueless on the subject.. just asking question and trying to figure things out.
Everybody takes care of their own interest, of course. That is true in crypto and any other market. There are people looking at it whishing that it comes down even lower so they can buy cheaper. No problem with that. Just saying that if you truly believe in bitcoin (and crypto in general) you should hold your coins
I'm not much for a speculator but I do believe in the technology. It's going to be interesting how it's going to change the future of everything
I think this time of correction is needed to get rid of weak hands and have a healthier stronger market.
This is not a time for holding. This is a time for buying.
Indeed... unless you have already invested all your cash in crypto
Like me, you mean? :D
In that case you can still hodl and shill your money
This is true. If you got in at ATH sorry but for those of us who are here for the tech it's not even close to over.
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Bullish statements from SEC and CFTC!
Bitcoin, gonna run in a decreased curve, this post contains very important informations , well done is a professional talent from u
Good Post sir @johanalejo. I love you ways to post on #steemit. And really agree with you.
It is only a deterioration of this period, but will return to the borders of 16 thousand approximation
The sooner, the better
It's nice to see more than half of your comments from voting bots. Really adding value here!
Without the bots you probably wouldn't be here. There's nothing bad in promoting your posts to get people to see it. And in terms of value, I think that it comes from the effort put in trying to post quality value. Thanks for taking the time of posting a comment here
The crash had to come after all the hype. My portfolio has gone up in January in 4 days by 50%. That couldn't be a healthy increase.
At the moment we're banging through every supportline, but the market will soon stabilize and then it's going uphill again. I hope that all the shitcoins will at least be washed away and the renowned coins with good technology and hard work will regain respect and trust again.
People should start seeing the blockchain technology and its possibilities behind it, not just the short-term money.
My plan is to buy more within the week and hodl until the end of the year again. It definitely appears to be a naturally repeating cycle. I'm sure there could be a mass psychology lesson buried in the numbers somewhere.
"But if you came here (...) for real economic freedom and because of the technology" ... care to elaborate a little? Bitcoin & "Altcoins" have completely different value propositions. What if i told you that you can believe bitcoin and privacy coins have no future and plattform and consortium blockchains could be a complete gamechanger? Bitcoin and many othee crypto-projects have nothing to do with each other except their pairing on exchanges. Only if people realize this, the space can move forward and evolve.
I'm trying to address in this sentence to those cases in which someone has invested his/her money in different projects in which they believe. No matter if the reason they believe in each and every single one of them is completely different, I'm talking just trying to establish a difference between these and speculative investments (only because you think the price will go up in the short term, even if you don't think there is a clear future in that project)
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.
This is war and blockchain will win ! Hang in there everyone.
Lots are getting scared about this price going down. Why not put in in investor's point of view. It's time to get something to invest with.
Great time to buy. Good time to HODL. Bad time to sell.
Bitcoin investment is for long time invest let wait and see the next bubble it might touch 50k next
That is my thought. I have ideas in my head of how high it would have to go for me to withdraw a little bit, but mostly I’m planning on seeing where we end up in say 5 years or longer.
Yeah Just HODL and wait for the market to sky rocket by mid 2018
Yeah, exactly this!
Long term investors should hold. There is no doubt that Bitcoin will exceed 20k. Short term investors, on the other hand, should have a good strategy before investing. You need to do research everyday, know how to read charts, or have a good indicator to see which way the price is going.
I'm not panicking yet. I am however taking the opportunity to buy at bargain basement prices at each dip.
hodling!
I just went to the bank and will buy more coins tomorrow haha. If you understand the role of this technology you will see it as a long-term investment not get-rich-overnight. In Coins we trust :P
I thinks bitcoin will fall down 5k7 $, and pump 10k1$ , later they continue fall down 3k6$. WE MUST PATIENCE ON NEXT 2 MONTH.
그렇습니다. 지금은 비정상 하락 입니다.
i bought btc today. hopefully this was the bottom.
I am 50% down in my investment. I will have to #hodl until this crash recovers..jpeg)
just HODL ;-)
I want bitcoin to go lower. I'm about to buy some as soon as an ACH hits in 3 days. 3 days and I double down on my original investment. Stay low for 3-5 days plse.
Honestly this is an amazing time to stock up and buy more BTC. Its definitely not going anywhere and I truly believe a few months from now we will be wishing we bought more at these prices!
Emotions definitely sometime try to take over, but try your best to remain emotionless ( you definitely need too in this market), use your best udgment and continue to trade based on what you can afford!
Do NOT panic sell. It'll all be ok in the end :D
Just wish I started investing in cryptos years ago so I would've had a better understanding of the market before jumping in head first.
Hehe, don't we all wish that? ;)
And this is the best time to buy Bitcoin,don't be panic Bitcoin is going to be rise beyond our expectations,....Invest now!!!
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Just keep and not sell. i believe in 1-2 year it will be leader coin