DreamBlood

Bitcoin - Sad Truth, Help Is Needed.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Sadly bitcoin went downwards and there is little bullish signs of life seen on the chart. Unless some news come out that will change the direction of the wave, it is highly unlikely for bitcoin to go on an another bull run. Do I think that cryptocurrencies will die? - No, they will hardly disappear considering a lot of businesses are already utilizing the power of the blockchain to their advantage and the price won't hit zero (To my knowledge a lot of insurance companies in europe are using crypto as a tool to transfer money safely), but in order for them to increase in price there are a few things that an asset should do:

a) Appear to new audiences and investors.
b) Drastic changes for the better to make people reinvest.
c) Become a hot topic.

A and C are already done - in the early days nobody has even heard of bitcoin and because it brought something new and fresh to the market, people were willing to invest in it and see how it turned out. After that it became a hot topic and the crypto market got unseen-like volatility .

So what's left? -Option B. Just think for yourself, who has never heard of crypto, old lads and ladies that freeze their assets until they die? Become a hot topic yet again, but for what reason, that it's a "new" thing? Hardly so.

At the moment we should sit tight and don't make any rash decisions. Most likely you have the feeling of "I need to do something" and act solely on it, but unless you are an experienced trader, you will just lose money in the long run for no reasons.

What do you think of the current market condition? Let's discuss it in the comments because young "naive" people who are only now getting in ,with little money that they have, are looking at us to create an impression on the market, so let's do them a favor and lead them to the right direction and save them their hard earned "cash", that most likely they can't really afford to lose.

Good luck!




Comment: Support area reached. Price bounced backed as we expected.
Hi, long time no see. I want to get advice from many chartists.
This is my personal opinion, concluding summary of the things below.
Futures(CME, CBOE) Expiration Date, 50days Pattern, Comparison with 2014
Where do you think is the most likely position for BTC to rebound?

Reply
I follow your wave of thoughts, except about the young crowd, which I perceive as impatient and wanting all in the short term. Taking a look at the demographics in https://coin.dance/stats#demographics I'd say that it could be more attractive for female and for 40+ people.
Just my grain of salt.
Thx for your analysis. :)
Reply
My investment is down the drain but it was money that i was willing to lose. So am i panicking, no. Like you stated large companies are using this tech and it is not showing signs of slowing down. Microsoft jas been publishing blockchain articles month over month and has set up test benches for developers as well as IBM. There are so many uses for this technology that it won't disappear. The key is researching companies that are utilizing crypto in the correct manner and invest in those areas. Just like the dotcom boom many rose and more failed but the ones that had the correct models that utilized the internet correctly to target their clientele and business structure thrived at the end. So now i just shelve my investments and see what comes out after the smoke settles
+1 Reply
DreamBlood Jefhughe
@Jefhughe, thanks for sharing your view, I agree.
Reply
almost same

Reply
DreamBlood thecryer
@thecryer, possible scenario, everything can happen. Just in order for bitcoin to reach a new peak we will need more evidence then just "support zone" or the indicator told us so.
+1 Reply
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