What a crash 20% overnight - Does anybody think South Korea or China will actually ban? Or is this just fear/uncertainty/doubt? Buy the Dip?
What a crash 20% overnight - Does anybody think South Korea or China will actually ban? Or is this just fear/uncertainty/doubt? Buy the Dip?
No backing. Just a market bubble.
zipcode10075 wrote:
What a crash 20% overnight - Does anybody think South Korea or China will actually ban? Or is this just fear/uncertainty/doubt? Buy the Dip?
Cuckcoin is where I invest heavily.
Your'e going to see 40% swings in Crypto Currency issues so you better have alot of Rolaids.
Big Banks and National Govts fear Bitcoin and are either banning it or spinning their own block chain currency. BUT the aim of Bit Coin etc. is to eliminate central banks and government control of economies. So that's the game being played out. No one can predict what will happen.
I made a small bit of money on cryptos this last year and am still invested in ethereum. I got out of Bitcoin in December at around 18,000 because I could feel we had reached peak saturation in the media, and the price had rocketed up very quickly in the previous month. Things toppled about 10 days later, so I timed that in pretty well. I then got more into Litecoin and ethereum but pulled everything out during the gdax-bitcoin cash debacle as the markets went into chaos and things were looking pretty bad. That was a pretty bad time, and it really freaked a lot of people out. A lot of whales sold off their fortunes because of it, and that's essentially what caused all the major cryptos to drop. I sincerely thought the bubble had finally burst.
However, I told myself, if the major cryptos survive this and bounce back, it means they can come back from almost anything. While the markets are not looking to good at this particular moment, we did see Bitcoin rise up to over 17,000 after having fallen to under 11,000, and ethereum doubled yet again in the span of a week or so. ETH is down a bit eight now from it's all time high a few days ago, but so far, it has always gone up long term, even after numerous significant dips... It can't last forever of course, but probability is on its side for the moment. I am hodling. I'm not buying the dip because I've already put in as much money as I'm comfortable losing, and despite everything I just said, it's entirely possible that cryptos could plummet for good at any time. It's high risk, high reward. I am not comfortable risking more than what I already am, but your situation might be different.
Like I said, I own ETH, but it really is what I think has the most staying power for the time being. I don't particularly like the other major players right now. Can't speak on all the altcoins because that's a lottery.
If South Korea bans, it will hurt, but I suspect the markets will eventually come back. It's impossible to say for sure though.
The Gam e is On wrote:
Big Banks and National Govts fear Bitcoin and are either banning it or spinning their own block chain currency. BUT the aim of Bit Coin etc. is to eliminate central banks and government control of economies. So that's the game being played out. No one can predict what will happen.
This x1000.
+1000
All the upvotes to you.
This is the #1 thing the average person or even investor doesn't get about what's happening with cryptocurrencies. It's a war between independent legitimate blockchain currency and all the banks, governments, and other interests still trying to find a way to oversee it. This is the battle we are seeing play out with each new competing coin. The real farce here is that the most appealing and stable-sounding cryptocurrencies are the ones backed by some major interest that asserts some kind of centralization and control, so the truly independent blockchain movement is under attack. I'm not a zealot about this stuff by any means and recognize a lot of opportunity and even more risk here, but the #1 thing people need to understand is that large established entities (banks, governments) fear independent blockchain, because it could take them out of the loop, and they are desperate to keep themselves relevant right now. This is why you see some embrace it, ban it, or try to make it their own. They're scrambling for solutions. It's impossible to predict whether independent blockchain can succeed in a globalized world.