Dang.. Bitcoin just keeps dropping and subsequently most of the rest of the market as well.
This is pretty brutal. Bitcoin is down to 3.8k now at the time of checking this.
I've been so busy working on personal stuff that I haven't really had time to look into the reasons why people think it's dropping so much?
Does anyone out there have any insight or ideas on what they think might be going on with the market?
Do you think bitcoin will make a significant comeback? Or is this perhaps the signs of it falling and other coins battling for their more "rightful" position?
I have a personal theory that bitcoin's time at the top is limited and eventually other coins will surpass it, could that be what we're starting to see a bit? Or perhaps is it something else? I have no idea. What do you think? Thanks for sharing your thoughts if you do!
predictable what happened and any alt-coin will need to prove it’s use before you see any coin $100 or more. Just my 2 cents
I'm a novice and my opinion doesn't mean much but I tend to agree with your second statement about coins proving their use before raising in such value, however could you expand a lil on why you think the decline has been predictable?
because in the normal manipulated market (stocks and bonds), 3% gain is normal, 10% is amazing.
Now compare that with %1300 rise and tell me that’s not easy to call
I'm still not totally sure I understand admittedly. But I appreciate you trying to explain and.. I'm assuming it has to do with patterns and what has happened in the past and such, it's making more sense to me.. Though I guess I'm a lil slow. Heh.
no no.. you are not slow and never put yourself down. Basically if something is too good to be true, it probably is.
Values are manipulated, especially since the influx of fiat from the money masters last fall/winter. I had been expecting a rally to come at the end of the year to nab many in tax debt, but this makes sense as well. They have been pulling back their money all year lowering the value, and lowering their own tax debt. As well, they have created a very panicked crypto environment making all who invest for short term profits tremble with fear and sell sell sell forcing the prices even lower.
Of three things I am certain.
They want us using crypto because of the transparency and control.
They have huge plans for it as they own a large exchange, and you have Robin Hood app dabbling. They have some big businesses accepting it as well as many states for taxes.
They have been racking up patents on crypto (a post I did months ago had an article showing Bank of America held the most crypto patents). They are in the final stages of implementing their controls and market domination and then the prices will soar. The few with steady hands will be thankful while the majority and day traders will cry over their lost opportunity.
Many alt coins are shit as well, and I believe this action is to weed them out as weak chains along with the weak hands.
That was very insightful! Thank you for sharing. I think that helped me really put things into perspective more! Especially the stuff about banks holding patents on crypto.. Yeah.. I see so much money going into longterm projects and infrastructure that it seems sort of like kind of obvious, but I suppose it still seems worrying at times when things drop so much. But yeah.. I really tend to agree with you and I think long term crypto is going to be around and not going away. Apologies my response isn't longer but my food is out of the oven and I'm ready to eat, so thank you again for sharing your thoughts! I appreciate it. That helped. :) Hope you've been well! I always enjoy hearing from you.
Thank you for the kind thoughts. Been making it which is more than many. Developing new plans to change up my life next year. If they gain any foothold at all will make for an exciting year that will allow me to help many people, for which I am excited. I have had the blessing of watching many heroes this year who understand true voluntary action in regards to lightening others loads and it has been inspiring.
It's price has been rigged to go lower in order to make room for the big monies to come in. Just hodl and don't bank on quick gains in the short term.
You sound like you know this for a fact? I mean.. I tend to agree with you and I think you're probably right even though I don't know that much about the subject, though.. I have to wonder how much we can know about some of these things unless we're one of the ones involved at high levels? And I'm not, so.. I dunno what to think really.
I think lots of Alt Coins will fail... Many received huge fundings while BTC was high and started up but there was no fundamental plan.
I honestly don't see anything surpassing Bitcoin for a while. It's the Pioneer and when people who know nothing or something about crypto they associate it with BTC. It's the original and the Cap is 21 million.
With the huge dip that happened.. I mean in a way it was predictable since this has happened literally 4-5 times since 2012. I think the biggest pullback was 90%.
Could we see another big run next year!? Yeah I don't see why not.. I mean depending what country you are mining in..it costs between 8K-20K USD to mine one single BITCOIN...so everyone who is mining now is looking at the future and hoping it will return more in the future.
I think it's going to be a long wait till the top again though.
The one great thing though with the volatility...just how 90 billion can get taken out in a matter of days 90 billion can also get added in days as well!
Keep building up your Steem APOLY!!
That was very insightful. Thanks for sharing your knowledge! I don't know a lot about the subject but that all makes a good amount of sense to me. Hey.. What are your thoughts on WhaleShares? I've been meaning on trying it soon for a while now cause I hear a lot of positive things. Though.. It's tough to consider another social media when I already don't have enough time for all the ones I'm on, heh.