Glad to see you are giving perspective and those charts have that power to bring back some rationality to underlying currents of fear brought forth by the news relating to China. Thanks for this information, keep your smile, thriving and namaste :)
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Yeah, it's hard for many folks to see a 20% drop as a healthy contraction after a 100% rise. They just see the top to the current price and freak. Not a good place for the emotionally reactionary.
If folks find themselves freaking, they should do one of two things - 1) sell all their BTC (perhaps with a trailing stop) or 2) stop watching the price, except once very few months
I keep hearing people say Bitcoin is "crashing" and using the phrase "crash and burn". But when I look at Bitcoin it just is doing what it always has done. Goes up, goes down, levels out. Goes up again, goes down. If you check out the Blockchain there is still a TON of money moving THROUGH bitcoin, so its current price is kinda irrelevant. 1 XBT =1,091.39CAD <-- Hardly "crashing" dudes.
Good little reality check here. This is a healthy correction; that sharp upward spike wasn't sustainable anyway. I sold a bit after it dropped down to $800 just to be on the safe side; wasn't sure if it would keep falling or not and wanted to take some profits off the table (I've been holding a large Bitcoin position since $600 or so). With people jittery about China, I'm hoping some BTC will flow into ETH and kickstart a nice bull run there. But in any case, 2017 is off to a nice start!
Glad to see you are giving perspective and those charts have that power to bring back some rationality to underlying currents of fear brought forth by the news relating to China. Thanks for this information, keep your smile, thriving and namaste :)
I just don't understand all the hanging heads. We should be celebrating!
I hear you! that's exactly what I tell everyone who dares to listen. All for one and one for all!!! Namaste :)
definitely, perspective is so important!
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Yeah, it's hard for many folks to see a 20% drop as a healthy contraction after a 100% rise. They just see the top to the current price and freak. Not a good place for the emotionally reactionary.
If folks find themselves freaking, they should do one of two things - 1) sell all their BTC (perhaps with a trailing stop) or 2) stop watching the price, except once very few months
nice
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Yes, thanks for the reality check! Zen and the art of bitcoin.
Hola Dan, enjoying the great white North? I hope everything is going well.
I keep hearing people say Bitcoin is "crashing" and using the phrase "crash and burn". But when I look at Bitcoin it just is doing what it always has done. Goes up, goes down, levels out. Goes up again, goes down. If you check out the Blockchain there is still a TON of money moving THROUGH bitcoin, so its current price is kinda irrelevant. 1 XBT =1,091.39CAD <-- Hardly "crashing" dudes.
Exactly, I think it is going great and 2017 is looking like it could shape up to be awesome.
Nice article and video.
Resteemed.
Thank you Barry!
Good little reality check here. This is a healthy correction; that sharp upward spike wasn't sustainable anyway. I sold a bit after it dropped down to $800 just to be on the safe side; wasn't sure if it would keep falling or not and wanted to take some profits off the table (I've been holding a large Bitcoin position since $600 or so). With people jittery about China, I'm hoping some BTC will flow into ETH and kickstart a nice bull run there. But in any case, 2017 is off to a nice start!
Ether has been looking good lately. I think Btc will pick up again soon.
btc is doing fine!! good post