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Bitcoin Dives Below $12,000 - Analysts Say Could Spark "Market Contagion" in Cryptos

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posted on Dec, 22 2017 @ 11:39 AM
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The term crash is relative here.

Bitcoin is up for the year. It could fall to $5,000 and still be up for 2017.

A correction happening right now, is soooooo much healthier than a runaway gain, I'm glad.

My algorithm for price prediction just had BTC at $8,000 for December 2017.

I am more than satisfied with the reality of the current market.

My algorithm places a run up to between $25,000 and $30,000 as a likely occurrence by May 2018.

If I were here to spread financial advice though, I would probably advise people to purchase MIOTA that cryptocurrency has a gain potential of 10x value over the next 24 months. Currently sells for between $3 - $4. No doubt in my mind, it will see $20-30 each by 2020.

((MIOTA is a crypto developed for IOT devices and machine to machine micro transactions. Microsoft has an interest in this crypto (involved in it's creation, as well as 20 other global reach corporations), and it just launched in summer 2017. It has a market cap of $10bil right now, but is obviously worth a $100bil market cap.

It is intended for micro transactions ranging from streaming fees, to smart power grids, smart parking fees, smart laundromats, etc... Anywhere, where machine to machine transactions occur, and it would be beneficial to remove the human interaction from the device to device services.))
edit on 22-12-2017 by Archivalist because: Spelling error




posted on Dec, 22 2017 @ 11:47 AM
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So what? A month ago it was $8,000.
It's always amusing how noobs to the cryptocurrency scene freak out every time bitcoin dips a little. This is nothing. $12,000 bitcoin? Awesome!
Here's some perspective:
If you put in $10,000 JUST a month ago, that would have been like $25,000 at the high point and about $15,000 at the low point. That's if you only bought in a MONTH AGO. All the people who bought in further back are still making absolute bank, considering that bitcoin was only $800 (eight HUNDRED) dollars this time last year. This dip to $12,000 is nothing at all.

So... Let's say someone bought $10,000 worth of bitcoin this time last year when it was $800. They'd have somewhere between $250,000 at the high point of $20,000 and $150,000 at the low of $12,000.



posted on Dec, 22 2017 @ 11:53 AM
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It needed to start going down. It should mean it needs to crash the whole system to do it....





posted on Dec, 22 2017 @ 12:08 PM
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a reply to: FamCore

When I read the Litecoin news, I saw this exact thing happening. I'm thinking it's going to cascade from here for some time. Time to buy in at a low point! lol

Seriously though, BitCash is probably going to be a better bet from here. Just get it when it falls to a decent level.



posted on Dec, 22 2017 @ 12:12 PM
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originally posted by: the owlbear

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.


What happens when blockfolio "gets hacked" and all of the digital money is gone?


lol read my mind!



posted on Dec, 22 2017 @ 12:14 PM
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originally posted by: trollz
It's always amusing how noobs to the cryptocurrency scene freak out every time bitcoin dips a little.


A drop from $19,000 to $14,000 is not a little dip, that is a 26% drop. That type of volatility should concern anyone regardless of the type of investment they are in.



posted on Dec, 22 2017 @ 12:34 PM
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originally posted by: Vroomfondel
Bitcoin, or any crypto-currency, is not unlike any other fiat currency in that its value is based on demand. If no one wants it - it has no value. Bitcoin will be in demand at least until there is a better alternative in digital currency. More big money is starting to accept bitcoin and the market devoted specifically to bitcoin is growing. You can now buy a Lamborghini from a giant vending machine using bitcoin. I know that is not the best example of the validity of the currency, but it does demonstrate that various entities are investing in its future.

I see this correction as a buy opportunity and I am watching the prices and waiting...


There are dozens of other crypto currencies that are better than bitcoin. IT SUCKS. Hours to complete a transaction, high fees, and only the ability to do 16 transactions a second.

It is a joke in terms of a workable currency. It is great that it was the first and introduced the blockchain, but it's time has passed, many other currencies are far superior. It should not be the most popular any longer.

I too see it as a buying opportunity, but not for bitcoin. I am never going to buy it again, it's time is over, and the market is starting to realize it, just look how much it's market dominance has dropped the last month.



posted on Dec, 22 2017 @ 12:41 PM
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a reply to: AugustusMasonicus



A drop from $19,000 to $14,000 is not a little dip, that is a 26% drop. That type of volatility should concern anyone regardless of the type of investment they are in.


Dont worry its climbing again now. Bitcoin Cash will over take it soon too.




posted on Dec, 22 2017 @ 12:41 PM
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originally posted by: StallionDuck
a reply to: FamCore

When I read the Litecoin news, I saw this exact thing happening. I'm thinking it's going to cascade from here for some time. Time to buy in at a low point! lol

Seriously though, BitCash is probably going to be a better bet from here. Just get it when it falls to a decent level.


BitCash is a small improvement over bitcoin - it is still crap. Do some research on the transaction speed, transactions per second, and cost per transaction of all the top coins. The ones with the best stats will be the ultimate winners - because they are the ones people will want to use. If security is most important to you, not using the coin for transactions but just as a store of value there are better coins than bitcoin for that also.



posted on Dec, 22 2017 @ 12:44 PM
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bitcoin trading platforms are closed to 'selling'...

the mom & pop speculators in Crypto's are in fact stampeding as the latest bottom will have to wait til after Christmas... i'm guessing $10k from the present $12800.

what I am seeing on the Market Telecasting @ MSNBC is that Gold/Silver/Copper are all surging as bitcoin plunges...

But ~ ~ I forecast that in a week or so, the now more valuable PMs, will also experience a sudden downdraft in value as the same big-time speculators who are engineering the current bitcoin/crypto downturn to shake down the weak-'hands' of their $urprise windfall increase$ in bitcoin$... will do the same to the precious metals hoarders that are trying to escape the bitcoin plunge..

I say guess, that by Jan 5th, I will be seeing Gold near $1250. and Silver back down to $15.60 from around Dec 6th


the paupers & serfs are frantically grasping at straws to try & boast of a meager sliver of wealth..
but the elites with big-bucks are engineering these sudden gains followed closely by equally sudden plunges in Crypto's and PM's... to plunder any gains the poor-class with limited disposable income have lucked themselves into having


my stance is to Avoid being 'Whip-Sawed' by either craze or mania that's going on in crypto's or pm's
edit on nd31151396854622492017 by St Udio because: (no reason given)



posted on Dec, 22 2017 @ 12:59 PM
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I'm not going to lie, I was convinced btc was going to stabilize and continue to grow. When I saw the other day bitcoin cash was trading, I immediately pulled my investment from btc. When I checked the markets today I was stunned to see every major crypto (btc, eth, ltc) was down 20-ish percent each.

I can only speculate this is due to people selling en masse for extra cash over the holidays. An interesting and shocking development none the less, just glad I removed my investments when i did.



posted on Dec, 22 2017 @ 01:01 PM
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originally posted by: AugustusMasonicus

originally posted by: trollz
It's always amusing how noobs to the cryptocurrency scene freak out every time bitcoin dips a little.


A drop from $19,000 to $14,000 is not a little dip, that is a 26% drop. That type of volatility should concern anyone regardless of the type of investment they are in.


Yes crypto currencies are highly volatile and very risky. They are like a small cap stock and in some cases like a penny stock. Anybody that puts money into them that they cannot afford to lose is foolish. However, there has been nothing that has been a better investment in the last few years, so in my estimation it is a good risk to take.

You probably have not been following the space closely - but 100% gains per week are not at all uncommon in altcoins the last couple months. Yes this is very abnormal - and will not continue for long. But while it is happening there is a lot of money to be made.



posted on Dec, 22 2017 @ 01:06 PM
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a reply to: FamCore

a crash is the best time to buy, never gonna get it cheaper.

rumor among the crypto community is that this is a coordinated effort by either the state or wallstreet to drive price down as low as possible before putting more in to buy it up cheaper.



posted on Dec, 22 2017 @ 01:13 PM
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originally posted by: the owlbear

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.


What happens when blockfolio "gets hacked" and all of the digital money is gone?


nothing would happen cause blockfolio doesnt hold any currency it only keeps track of the quantities you possess by the user reporting their quantities to it, blockfolio itself has no access to wherever you store your tokens, it is essentially a ledger only,

the fact you thought blockfolio stored the currencies itself just illustrates your ignorance on this topic, which also explains why you would fear such an impossible thing...

deny ignorance pal.



posted on Dec, 22 2017 @ 01:22 PM
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a reply to: the owlbear

Because you seem genuinely interested in learning:

Those hacks were mainly done on what are called "exchanges." They are essentially where you buy and sell these things, and you can just keep your stuff there.

What most will advise is to use a wallet independent of exchanges (either software or hardware). They are significantly less susceptible to hacks, and some hardware wallets will even hold multiple currencies.

A portfolio wont hold any info other than balances. It'd be like if you kept track of normal spending from, say, a checking account in Microsoft Excel.

As for the market, I'd say this change was completely expected. Its strange to me how many are frothing at the mouth to see cryptocurrencies and blockchains fail. C'est la vie...



posted on Dec, 22 2017 @ 01:35 PM
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originally posted by: Serdgiam
a reply to: the owlbear

Because you seem genuinely interested in learning:

Those hacks were mainly done on what are called "exchanges." They are essentially where you buy and sell these things, and you can just keep your stuff there.

What most will advise is to use a wallet independent of exchanges (either software or hardware). They are significantly less susceptible to hacks, and some hardware wallets will even hold multiple currencies.

A portfolio wont hold any info other than balances. It'd be like if you kept track of normal spending from, say, a checking account in Microsoft Excel.

As for the market, I'd say this change was completely expected. Its strange to me how many are frothing at the mouth to see cryptocurrencies and blockchains fail. C'est la vie...


Thank you for your post.
I have a co-worker who isn't the brightest, but has heavily invested in cryptos. Just want to make sure he doesn't end up living in a van down by the river.
I have little understanding of how it works to turn crypto into useable currency and keep the investment safe. I'll pass along what you posted.
Again, thanks.



posted on Dec, 22 2017 @ 01:57 PM
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bitcoin proves that there is "a sucker born every minute"......the fact that our own CME and CBOT makes it possible to trade in bitcoin futures, boggles my mind....tell me all of you bitcoin buyers, who do you go to when you lose your ass?.....I'll give you a hint....NO ONE!.....at least with our state backed fiat money, we have recourse in court.



posted on Dec, 22 2017 @ 02:02 PM
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a reply to: the owlbear

Honestly, even if your co-worker does everything right, he still might end up in that van. Then again, I suppose the same could be said for any of us..

If he just has one currency, a software wallet can work well. If he has more than one, a hardware wallet like the Ledger Nano S is the way to go. Really, a hardware wallet is probably the way to go regardless, but its extra cost.

Keeping your investments in an exchange is a little bit like having a bookie store all your winnings indefinitely. Not the best analogy, but in both cases, they just aren't "best practices."

My personal hope is that my own small investments can help fund my business which will ideally change the world in a substantial way. I have no other options, since my health precludes hard time frames (which most normal investors request). This subject provides a singular and unique opportunity for folks in my position, if it grows.

Many would do well to remember that a market that can grow immensely in short time frames can also shrink the same way. As long as the overall trend is upwards, its a viable investment.

I don't think we will see its true potential until something comes out that makes it all more intuitive, fast, and simple for the average person.



posted on Dec, 22 2017 @ 02:13 PM
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originally posted by: Archivalist
The term crash is relative here.

Bitcoin is up for the year. It could fall to $5,000 and still be up for 2017.

A correction happening right now, is soooooo much healthier than a runaway gain, I'm glad.

My algorithm for price prediction just had BTC at $8,000 for December 2017.

I am more than satisfied with the reality of the current market.

My algorithm places a run up to between $25,000 and $30,000 as a likely occurrence by May 2018.

If I were here to spread financial advice though, I would probably advise people to purchase MIOTA that cryptocurrency has a gain potential of 10x value over the next 24 months. Currently sells for between $3 - $4. No doubt in my mind, it will see $20-30 each by 2020.

((MIOTA is a crypto developed for IOT devices and machine to machine micro transactions. Microsoft has an interest in this crypto (involved in it's creation, as well as 20 other global reach corporations), and it just launched in summer 2017. It has a market cap of $10bil right now, but is obviously worth a $100bil market cap.

It is intended for micro transactions ranging from streaming fees, to smart power grids, smart parking fees, smart laundromats, etc... Anywhere, where machine to machine transactions occur, and it would be beneficial to remove the human interaction from the device to device services.))


What site or business so you trade theough?



posted on Dec, 22 2017 @ 02:16 PM
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a reply to: jimmyx

It seems you are hoping for people to fail.. and think that everyone has dumped everything they own into these things.

There is a common standard in everything from investments to gambling in Vegas; never risk more than you are willing to lose.

An additional maxim is to, when appropriate, pull out one's initial investment. At this point, any "wins" or "losses" are entirely on house money, so to speak.

Follow those two very simple axioms and you are never at risk of "losing your ass."




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