Bitcoin is soaring , what your take?.

Ahmedo24

Member
A lot of predictions has been made as regards this most powerful Crypto currencies with about $99.5 billion called Bitcoin.
This year the price has risen from $29,000 to $41,923 all time high . This made lots of people predicting that the price could hit $50k or more this month and rise as high as $146,000 according to JP Morgan.
The last 48 hours has not been that as expected by my bitcoin enthusiasts because the price has crash from the all time high value to as low as $29,685 today though it currently trading at $33, 151 now .
As bitcoin coin lover , what are your thoughts as regards Investing, trading, and all around the coin at the moment.
 

Donkiz

Member
The fluctuations of bitcoin price just like every other cryptocurrencies is expected because of their volatile nature, I don't think that this recent depreciation in price will lead to free fall as was experienced during the last cryptos bubble bust.

But this can be seen as a reality check, and a reminder to all and sundry that cryptocurrencies investment is a two-way thing that can go to any direction within a twinkle of an eye and without notice.

This equally reinforces the saying that whenever you are investing in any high risk business, of which cryptocurrency is one of them, invest only what you can lose.
 

Kennysplash

Member
A lot of predictions has been made as regards this most powerful Crypto currencies with about $99.5 billion called Bitcoin.
This year the price has risen from $29,000 to $41,923 all time high . This made lots of people predicting that the price could hit $50k or more this month and rise as high as $146,000 according to JP Morgan.
The last 48 hours has not been that as expected by my bitcoin enthusiasts because the price has crash from the all time high value to as low as $29,685 today though it currently trading at $33, 151 now .
As bitcoin coin lover , what are your thoughts as regards Investing, trading, and all around the coin at the moment.
One has to be careful, especially with crypto currency. The way it surges high so also can it fall the same way. Today Bitcoin fell at about 15 percent to it's price yesterday. Hopefully it will reach and pass that peak again.
 

Ahmedo24

Member
@Donkiz and @Kennysplash , thanks for your contributions , it is no doubt a fundamental fact there is risk in Crypto currencies investments and every Investors must be aware of this fact and most Investors especially the smaller ones don't have desciplinez they make decisions based on the price and the trend they don't set a limit before Investing.

I became concerned to the fact that after Micheal Saylor invested the last $750 million into bitcoin before Xmas there was no major Investor that Invested huge yet bitcoin was increasing, if bigger Investor has Invested again we may not witness this surge.
 

Josemendez

Active member
Well , the fact is that Bitcoin has had a good year so far ,and thus the decline we are expecting right now is normal.
Statistics has shown that after each bullish run by any cryptocurrency , there is usually correction. Presently ,I think this is what is happening with Bitcoin.

If you ask me about Bitcoin trading now , I will tell you that now is the best time to do short term trading of Bitcoin. Just today alone , Bitcoin reached $33k and the moved to $36k and back to $33k .short term investors can maximise their profit with this type of movement.
All one need is to be observant with the fluctuations , in order to know the right time to buy.
 

Ahmedo24

Member
Well , the fact is that Bitcoin has had a good year so far ,and thus the decline we are expecting right now is normal.
Statistics has shown that after each bullish run by any cryptocurrency , there is usually correction. Presently ,I think this is what is happening with Bitcoin.

If you ask me about Bitcoin trading now , I will tell you that now is the best time to do short term trading of Bitcoin. Just today alone , Bitcoin reached $33k and the moved to $36k and back to $33k .short term investors can maximise their profit with this type of movement.
All one need is to be observant with the fluctuations , in order to know the right time to buy.
You are right, mass buying bitcoin to hold for a longer time might be very risky except for some people that had made significant profit from the Investment..

Some analyst have said that if the price of bitcoin doesn't drop to $28 to $29k there is tendency for it to recover above the $40k all time high.

If the pension fund industry eventually invest in to bitcoin as been speculated by many Crypto currency media outlets then I believe there might be a surge in the price of bitcoin but if the system remain then may be a long time fluctuations between $30k to $36k may be witnessed.
 
I am always optimistic that the price of Bitcoin would go very high this year, even more than it went last year. I remember how it skyrocketed from $29000 to $4¹000 in a very short time. The current drop in price is Not something we should be sad about. I expected something of this nature to happen. From experience I have had about crypto currencies, the price does not continue going up all of the time, but it tends to drop once In a while.
This kind of drop in price is also in favor of new investors, because it would encourage them to buy more with the hope that prices would rise again.

It is best to focus on long term investment and not to always check your portfolio so as not to feel discourage when prices drop.
 

Ahmedo24

Member
I am always optimistic that the price of Bitcoin would go very high this year, even more than it went last year. I remember how it skyrocketed from $29000 to $4¹000 in a very short time. The current drop in price is Not something we should be sad about. I expected something of this nature to happen. From experience I have had about crypto currencies, the price does not continue going up all of the time, but it tends to drop once In a while.
This kind of drop in price is also in favor of new investors, because it would encourage them to buy more with the hope that prices would rise again.

It is best to focus on long term investment and not to always check your portfolio so as not to feel discourage when prices drop.
You might be right with your analysis, it is actually not new for bitcoin to fluctuate for a while then correct itself but most times until pull of Investors inject funds into it before the market peak again.

I recalled when Microstrategy invested the price picked then was fluctuating in small ranges before the Americans gave a boost during parliative payment after that Paypal Invested and MassMutual also did, there were major Investor that pushed bitcoin up to $30k.

As at January the price was surging high with no record of big Investors . What could be responsible?
 

Wisdom01

Member
I think it would soon rise back to its former position , this might just be a temporary fall and the next bullish run might take the price back to $50k and i think this might even be the major dip and the best time to buy the coin before its starting rising fast and whales starts buying again so you would make more profit for your self i think , so this is actually okay to buy at this time around , i have some bitcoin already , just hoping they could rise back to its normal position before i even think of selling any coin now
 
You might be right with your analysis, it is actually not new for bitcoin to fluctuate for a while then correct itself but most times until pull of Investors inject funds into it before the market peak again.

I recalled when Microstrategy invested the price picked then was fluctuating in small ranges before the Americans gave a boost during parliative payment after that Paypal Invested and MassMutual also did, there were major Investor that pushed bitcoin up to $30k.

As at January the price was surging high with no record of big Investors . What could be responsible?
I agree with your insightful submissions. Though we have to come to terms with the fact that times change and so it is same with people's perspective about any subject matter. Therefore we should not base our understanding on things that happened in the past because they rarely influence future updates .

Regarding the question you asked, I want to say it is mainly because the way Bitcoin's price skyrocketed got the attention of many people who developed interest in investing in it with the hope of making their own fortune too.
So there was a high number of small scale investors that led to high rate of demand with little supply, so the price went up.
 

Ahmedo24

Member
I agree with your insightful submissions. Though we have to come to terms with the fact that times change and so it is same with people's perspective about any subject matter. Therefore we should not base our understanding on things that happened in the past because they rarely influence future updates .

Regarding the question you asked, I want to say it is mainly because the way Bitcoin's price skyrocketed got the attention of many people who developed interest in investing in it with the hope of making their own fortune too.
So there was a high number of small scale investors that led to high rate of demand with little supply, so the price went up.
It is very possible that the small Investors and the fear of missing out were responsible for the push of bitcoin price from $30,000 to $40,000 because I didn't read of any major Investors that Invested within this period. If i am right then very likely when some people felt bitcoin had reached $41k and they had it at less than $20k with the warning of possible drop in price they decided to traded which made the market to crash within few days .
If am not seeing bitcoin rising back soonest except more funds is been injected in by whales .
 

Ralphjoe

Member
Bitcoin is one cryptocurrency that is capable of moving so quickly in price due to its highly volatile nature which also makes it an investor's choice, the coin maybe down from it's all time high right now but it's investors that pulled out their funds to get their profit on their investment, which is the reason that made the price of Bitcoin to go down in the place, will definitely invest again after getting such a high profit within such a short distant.

The bullish run of Bitcoin was as a result of institutional investment that was poured on Bitcoin by some big private institutions, due to this reason, o think the price of Bitcoin will not crash like it did in the past before, infact the price of Bitcoin might get to the price to which JP MORGAN predicted that it will. I believe so much in the ability of Bitcoin to rise again even beyond where it was before.
 
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