RE: 🚀 Bitcoin Alert 🚀 biggest dip since weeks! 📉

[sagarthukral]

Yes, I am also looking to buy more, prices of Bitcoin have dipped already.. Do you see it going back up or is it just the beginning of the major pullback?

Comments

[onetin84]

it's just educated guessing it think it goes further up, the reasons for are:

• many not even know of the huge crypto space in my environment (well educated people) -> the viral effect kicks further in 2018
• demand from countries with broken currencies with up to +40% BTC price
• CME and CBOE were just the beginning for many more financial products around BTC, like options
• Lightning Network works already, tested on mainnet, it will unleash a whole new world for Bitcoin, maybe already 2018 or 2019 -> it would be huge for retailers, consumers and also Steam would come back for example
• big investors already in and many more from the conservative parties are rushing in, like banks, conversion of naysayers is ongoing
• more countries wanna profit from the development and i guess more regulation and legalization by governments is coming
• recognized as store of value (2. phase, after 1. phase only a messenger) before 3. phase medium of exchange

..that's what comes into my mind in 5 min

drawbacks currently:

• mining frenzy with ultra high energy consumption -> others with POS solutions like ETH
• still high volatility which makes it difficuilt for pricing in retail (need a fully automated system)
• TenX, Bread and others have not really started for mass adoption but is on the brink -> the bridge to the fiat world for the medium term (3. phase medium of exchange or digital cash)

[sagarthukral]

I wish I had a bigger upvote value, thank you for taking out time and giving a detailed response.. I agree that long term, the prices will go up but I am still expecting a bigger pullback before that.. We have been in a bullish market from almost 2 months now and a pullback will be healthy for the entire market.