Just lol at falling for this ponzi-scheme, sure it was more legit than most get rich scheme but the only money left in crypto now is shorting it, there will be no more bullrun to 5000$+. instead we will see a slow and painful bear market (for bagholders) and the people holding this crypto shit will be the laughing stock when it comes to trading.
We are already seinhg altcoin dying like flies (some are down more than 99%) and btc will soon follow, yes it will go down even more.
BTC is going down further for sure, because we haven't finished the post pump correction, but it's the same market cycle we've seen for the past 10 years... this is literally the fourth time we have gone up more than 100% then down 85% (note: overall increase). This is completely normal and surprisingly predictable, so I don't understand why people are shocked or think it's a bad sign.
2011 = 8233% rise
Early 2013 = 640% rise
Late 2014 = 100% rise
2017 = 550% rise
All of these were followed by a drop of around 85%... the only losers are fools FOMO buying at the top and FUD selling at the bottom.
Note BTC peaked in 2017 at $19,086... so assuming a 85-90% retracement we always knew we would go to somewhere between $2862-$1909 - we WANT it to do that because that's exactly what happens every time.
adolf512
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@BCryptological, that's assuming the cycle will continue meaning btc would somehow go upp to like 100000$ but i do not see that happening. The last pump was probably the final major pump where lots of people joined the insanity.
BCryptological
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@adolf512, That's just the thing, in the last pump not many people "joined the insanity" at all. Sure a lot of people heard the word "Bitcoin" in the news, but far far less than 1% of people even had the slightest idea how to buy BTC.
The next pump will be fueled not only by an actual 1% of people FOMOing in (especially now that BTC is so much easier to buy compared to a year ago), but also by the hige factor of institutional money... they have been buying OTC BTC and opening BTC trading departments throughout the bear market and will continue to do so in 2019, ensuring that they only buy at low prices.
On top of that, never forget that a fool is born every day. The future of BTC is rosy and there will be massive gains to be made (especially if you pick the right altcoins and diversify your portfolio).
At the end of the day, BTC was $4.22 in 2012 and a lot of people believed that it had already pumped to a ridiculous level from its $0.06 price in 2010. They would have sounded a lot like you, yet here we are still almost 1000x since then.
$10 of BTC bought in 2010 is worth $565,000 today.
$10 of BTC bought in 2015 is worth $190 today.
$10 in your bank account is worth maybe $10.40 in a year.
If I was someone with a spare $10 in my pocket right now (because you should only ever invest what you can afford to lose), I know which one I would rather take a chance on.
BCryptological
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@BCryptological, Just to confirm, I fully expect BTC to go down from here! (probably $2500, maybe $1900). It's more that investing at any price between here and the bottom will provide profit once the next pump arrives - the approach of the BTC halving in 2020 is likely to trigger this, if not the institutional money before that.
adolf512
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@BCryptological, Good luck picking the right altcoin of over 2000.
I made 900$ out of a premined scamcoin in 2017, unfortunatily i exited too early and only made about 2200$ that year.
I am following the altcoins, there are a few i view as having potential.
BCryptological
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@adolf512, Whilst I do my due diligence on alts, I would say that if the layperson puts 50% of their investment into BTC and the rest into the top 10,20 altcoins they are reasonably likely to hit at least one home run in the next pump (though maybe not a unicorn, which is probably lurking in the top 200 somewhere... so ok, maybe 10% into longshots that catch your eye!). I appreciate that, unlike you, I believe there will be further pumpS!
50% BTC
40% XRP, ETH, EOS, BCH, LTC, TRX, XLM, ADA
10% Mystery top 200 coins!
This is not really for you or I of course, but those who want to invest in crypto without dedicating much time to it.
2011 = 8233% rise
Early 2013 = 640% rise
Late 2014 = 100% rise
2017 = 550% rise
All of these were followed by a drop of around 85%... the only losers are fools FOMO buying at the top and FUD selling at the bottom.
Note BTC peaked in 2017 at $19,086... so assuming a 85-90% retracement we always knew we would go to somewhere between $2862-$1909 - we WANT it to do that because that's exactly what happens every time.