A BIG rise is coming... Buy NOW !
We have now hit the second major support line 2.
Bitcoin is going to have a sizeable rise so get buying.
I purchased an additional 2 Bitcoin today and it's already up almost $70 in the last 4 Hours.
I am very confident a nice margin will be made over the upcoming week.
*Chart from Excavo @ Tradingview
Why not buy steem for the same price? the amount of money from bitcoin is tiny considering it's so expensive. Steem jumps up and down for a few days now from $1-1.50. I just don't understand why people buy these expensive coins now.
@edb1984 - Because it is much more stable and has a long proven track record.
Totally agree with @jimharwood my thoughts entirely.
My Bitcoin dropped $400 but I'm not worried about it.
If any of my Altcoins dropped that much I would be very very worried.
i'm not saying to never buy steem, but i think it's probably safer to just buy and hold bitcoin, and just keep writing and posting to earn your steem.
Overall I am optimistic and I like your post, but at this point i am not confident for the bitcoin move having in mind the August 1st possible chain split. I am just Hodl and waiting, hoping things to go the way you describe in your post.
I think we all have a little hope regarding the price going up!! I have purchased another 2 ETH this morning with My Bitcoin to reduce my holdings and spread the risk. Don't forget to make sure you get your Bitcoin off the Exchanges at least 1 week before the deadline or they may decide to invest it for you !! I will be moving mine into a paper wallet. I think once August 1st goes but we will see a big jump upwards.
Thats a very good advice @stormuk69. I was thinking paper wallet and also made a post about it yesterday :)
hoping so mate
Long overdue. It's been quite a while now since we have seen any decent numbers.
yeah man, good analysis, this is giving me a little more hope now :)
I frankly don't think you can use any kind of logic with cryptos, just think, what is the cause of this slump? If cryptos are decentralized why would they all lose value at the same time? Shouldn't each coin, having it's own life act differently from the others? On the other hand I am not saying your idea is bad, maybe right now is the time to put money in, but their is no evidence that it has to go up.
@gduran - They all lose value because in my opinion they are all pretty much reliant on Bitcoin in one way or another.
A lot of the Altcoins can mainly brought / sold using Bitcoin which inflates their market value.
Lots of people have made profit on Bitcoin so don't see it so much of an issue using that.
For example my Bitcoin dropped and I couldn't trade with it so I brought some ETH and STEEM.
I wouldn't have done that with my real life funds.
What is this "major support line" you’re referring to?
It was Excavo's reading on it. $2150. However it dropped through that.
Generally his readings are pretty good.
I'm trading in GBP so have to keep converting everything to USD.
My personal chart I have a long time support at £1550 which it did not quite reach
I think it will go up though hence my reason for buying.
I agree. The supply of BTC will only be lower until it stops, therefore only real reason why BTC would drop is emerging of another token that would substitute it. But that can really happen on with a token that is not being supplied anymore and that will take time. I think that no token can accomplish that by flooding the market with millions of coins right from the bet. I think it is a good long-term investment.
I was solely questioning the support line:P
@fingersik - No problem with asking questions.
Always glad to discuss any points of view as that is how you learn.
It's very difficult to read the Markets currently as I believe a lot of the "Noise" is because of the Aug 1st date coming up.
Exchanges (Bitcoin) could possibly be frozen for 1 week before and after this date.
I do think if you have any Bitcoin get it into offline storage as its best to make your own decisions on which way to go rather have someone do it for you.
I didn’t expect anything else from you:P
So what’s with the Aug 1st? Its significance eludes me. I mean you said that exchanges might be frozen around that date, but why is that so?
Offline storage is e.g. Openledger, correct?
There have been scaling issues with Bitcoin for a long time. So various groups have their own ideas on how they want Bitcoin to go in future. If they cannot agree there will be a Fork. If you leave your Bitcoin on an Exchange that could possibly leave you at a loss , should they decide to uptake the wrong path of the split. You are then letting them decide what to invest your Bitcoin in.
Here a simple (ish) !! Explanation.
http://www.coindesk.com/short-guide-bitcoin-forks-explained/
All I would advise is if you have Bitcoin get it into offline storage. I will be making a guide shortly on how to do this.
Oh I know what HF is:P Just didnt know BTC is nearing one! Good to know. See you in your tutorial then!:)