The Big questions about Bitcoin BTC Answered.

CryptoGuru Level X³

July 14, 2018, 7:10 am

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The Big questions about Bitcoin BTC Answered.

Bitcoin is probably the biggest think to happen to humanity since the internet was invented. The question everyone has "is 2018 a bad year for Bitcoin?" I would still have to say no even though we have been in a 6 month bear market. I believe Bitcoin needs this pull back in order to grow. Basically what your seeing now is an exact replay from 2013. The price shot up to $1300.00 and then dropped over a course of about 18 months to $300.00. The price took off from that point slowly increasing until mid 2017 and hit $30,000.00 December 2017. If what it think is correct then BTC could be in for another 12-18 months of a bear market. In 2020 on the next halving Bitcoin is set to take off to new "All Time Highs". I personally believe that by 2022 Bitcoin will be well over 100K steady. Depending on where we close the year its possible that Bitcoin could still be up 150% from early 2017 by the middle of 2019.Next im going to be talking about a few things first "Should we invest rite now?" Second "I Bought bitcoin to high should i sell or hold?" Third "What will Bitcoin be in 5 years?"
The big question and concern for everyone is "Should i invest into Bitcoin rite now?" First i want to talk about Bitcoin's entire history and not just the last 2 years, and Bitcoin as a tech in general. Bitcoin has been "killed" or "Dead" more times than i can count and yet its still doing fine. We survived the China BTC Ban and India ban with no problems. Since January 1st 2016 we have only seen Increase over the long term charts. If i was new and i had to make a decision on whether i was going to invest now or in the near future i would say "Sidelines until end of year." What does that mean? Basically the price of Bitcoin is still on a downward trend and if history repeats it self by the end of the year bitcoin could be around 3000 a coin. Unless China and india lift the ban and new money comes in we will see a bear year this year and most of next. Cash is king at the moment in the crypto markets. Day trading or providing Bitcoin related services are still profitable if you have the knowledge to do so. As far as holding long term i just don't think its a good idea unless you can leave it in until after 2020. Bitcoin as a tech is so evolutionary and completely upgrades the financial system, but why? Bitcoin puts the power of the money back into the peoples hands and out of government hands. Bitcoin cuts cost on transaction fees and makes sending and receiving money more convenient and safer. International money remittal is BIG money and its expensive to send money back home Bitcoin changes that!

For those of you who are not new to Bitcoin and have already invested money above the 10K mark your probably kicking yourself at the moment. The good news is that if you have not sold i would just forget about the money for a few years if you can. If you cant get out now while you still have a chance. We have about 75% chance of seeing Bitcoin drop like previously mentioned. if you can hold and accumilate more that would be the ideal situation for anyone in it for the long term. Just buy small and forget about it. So if your question is whwteher you should buy or sell i guess that all depends on yoru situation.
What will Bitcoin be in 5 years? I think Bitcoin will be even more widely used and accepted than it is currently. I think nations will realize that Bitcoin is good for the economy. This is strictly my opinion, but i do have some facts to back up why i think this. Denmark thinks digital currency is the future and is in favor of removing cash completely. Canada leading the way with many Bitcoin start ups and one of the largest person to person exchanges local bitcoins. They have thousands of ATM's and growing more. Australia doesnt even regulate Bitcoin at all and they have removed the double tax on it showing that they in favor of BTC. America is regulating and trying to structure Bitcoin access and control its usage. Why do i mention these places and things? The main reason is to show that governments and big business are starting to move towards digital currency, Bitcoin, and Blockchain as a whole so why would it go away? Bitcoin for the last 5 years has been building a foundation for global dominance and the next 5 years will prove my point. For those of you worried about all the Bitcoins being in circulation and the price dropping i have news for you too. The last %1 of BTC or roughly 220,000 coins will be mined over 100 years time so Bitcoin will not run out in our life times. I believe that starts after the 2024 halving or sooner depending on Bitcoin hashrates and mining rates. With supply controlled and demand increasing i think Bitcoin is the currency of the future!

Below are some charts:

24 Hour Chart

From Jan 1st 2013 until now

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overcast

What I am worried about with it is that other currencies are pegging on BTC. And that valuation makes it a bit harder to work. I think people should move to EOS and the ETHER. So that way they can have better price and also better valuation as well. Another thing is that BTC may go down so low with no real currency valuation. We never know what may happen. but cryptocurrency fad is down I am guessing. Who knows what may happen.

6 years ago

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CryptoGuru

If Bitcoin goes down it all goes down many tokens have gone to 0 or very close losing 97%. We have to remember that as of now Bitcoin is the Worlds currency of crypto currency. If you are holding alts and you want to cash out you have to trade your alt for BTC and then into cash. The same way if have yuan you cant buy a barrel of oil you first need to exchange into dollars to do so. Bitcoin is not a fad my friend do not take it lightly lol. Bitcoin is the future of the financial system and the proof will be evident in the next 5 years. My suggestion is even if you can only put $3 a week in i would just start doing it now and forget about it for 10 years and continue to accumulate small amounts.

6 years ago

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overcast

I understand. The issues is blockchain on it's own is doing good so far. But there seems to be decline in the currencies. So it seems like not worth investing into the BTC anymore. I mean last year like performance seems to be reduced. Also lot of countries are not allowing the crypto. So that makes things a bit harder to work around.

6 years ago

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aeon

I think so far, the other cryptocurrencies is still depends on bitcoin. Bitcoin is the dollar in cryptocurrencies, they're still affected to the price of bitcoin. We should have strategies how to convert our coins to bitocoin.

Yeah, that's right. there're some Asian countries banned the cryptocurrencies and not tolerate the investors, their banks didn't recognize these currencies because it's hard to implement the tax from this.

6 years ago

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vinaya

I heard about bitcoins in 2014. When acquired $150 worth of bitcoins in 2015, I did not know what I can do with bitcoins. I received bitcoins from a writing site that paid through bitcoins apart from paypal and gift cards. I chose bitcoins withdrawal because I needed 20 euro in bitcoins for a HYIP . I invested on HYIP and made some bitcoins. I also continued writing for that site and earned more bitcoins. By the end of 2015, I had $600 worth of bitcoins, which was valued 1 BTC. Since I did not know the true power of bitcoins, I spent all of my bitcoins in 2016.

6 years ago

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CryptoGuru

Soon it will be time to get back in and hold until 2021. Mark my words and remember who told you first!

6 years ago

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aeon

That was big amount of money last December, but the problem about this bitcoin, we don't even know when we need to convert it to cash. The more we wanted to keep it and expect to rise, the more we lose and blame our self why we didn't convert it during that time.

6 years ago

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vinaya

Bitcoin was launched in 2009, since then over 1500 cryptocurrencies have already been launched, still bitcoin is the biggest cryptocurrency based on trading value and market cap. Bitcoins are being accepted on many online stores. In some places, it is even being used for offline transactions. However, the problem with bitcoin is the fluctuating value.

6 years ago

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aeon

This fluctuating value somehow test our patience and learn how to play this bitcoin, and make the people realize that this currency is for long term investment and never become our daily source of income.

6 years ago

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Martinsx1

Seriously, if we take a very good look at closely, it would be very clear that 2018 wasn't one of the best year of Bitcoin and other cryptocurrency. If I'm being correct, I would say that it's the most unstable year that the Bitcoin blockchain have experienced so far. It's true that the cryptocurrency have witnessed something like this before but 2018 case is very different. Even at this very moment, the price of Bitcoin is still not stable, as it's fluctuating in and out of $6000, $5000 and $7000.

6 years ago

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aeon

That's right, maybe because of the popularity of bitcoin, a lot of investors are trying to find new potential coins to invest, so instead of investing on just one currency like bitcoin, they invest their money to the new potential coins and maybe that's the reason why the price of bitcoin is unstable.

6 years ago

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CryptoGuru

Nothing is stable in its early stages. Its safe to say though Bitcoin has only gone up over the last 9 years in total.

6 years ago

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cmoneyspinner

2020? OK. That's only 2 more years. Guess I can wait.

I'm not asking whether I should invest in Bitcoin. I've already made my mind up. People said I only needed $15 to get started. That's what I started with.

Yes I can see it's in a downward trend. But what goes down either disappears or comes back up. I'm hoping!

Bitcoin started a revolution and just might change the world. I've always liked that song “Revolution” by The Beatles.

I don't wholly agree with Denmark. I'm not in favor of removing cash completely. That's like saying burn all the hard cover and paperback books in the libraries. Uuuuuhhh … NO!! Why don't you just destroy all of mankind?

The value of Bitcoin is controlled by the same thing that controls any other currency which is supply and demand! The more its used the higher the value goes!

6 years ago

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blackmist

Bitcoin are widely used today to earn. Their are a lot ways ways to earn like viewing ads, solving captchas, collecting, etc. and the best for me is mining. The only problem is that you need to buy GPU for a better and faster mining. What I don't like about bitcoin is that is the price slowly go down and it's frustrating. I lost money instead of earning an interest.

6 years ago

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jetselle

The same thing that gives monetary value to gold, EUR, USD or any other currency. Your belief that in future, other people will accept that money as a payment for goods and services. And why would they do that? Because they believe that other people will do the same. Fiat currencies have easier time in achieving that position because governments can force people to use their fiat money, but once you reach the point where you trust it, because I trust it, because everybody trust it, it doesn't matter anymore how it started. Bitcoin has just recently reached a critical mass, where the faith in the system is growing exponentially, and I believe that some day in not too distant future, people will accept Bitcoin without understanding every single detail about how the system works. Just as they do with fiat currencies today. But still, where did the first adopter come from, you might ask? In bitcoin they saw a superior currency, and believed (correctly) that a lot of people wound come to the same conclusion. Some might have been interested purely in technical aspects of Bitcoin, because once you manage to wrap your head around the system, you notice that it solves seemingly unsolvable problem in an elegant and novel way. Whatever the motivation, kudos to them. They got the ball rolling.

6 years ago

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mark8625

I have no idea in bitcoin and I do not know how it works. I will definitely find time to read and watch youtube about this. I heard some of it here in my country and feels like its good to invest here. My opinion about this thing is that if they are not scam they definitely survive.

6 years ago

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stbrians

Bitcoin leads while others follow. The problem with it is its appreciating and depreciating in very big leaps. In December it was worth $28,000 and now it is only about $6700. I might be right or wrong because it keeps on changing.

6 years ago

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jayjaydimson

Bitcoin is one of the highest value in the cryptocurrency world, Bitcoin only needs bitcoin address to make a payment or receive a payment online, But you need to have some deep research on where are you going to invest in bitcoin because if you got scammed on bitcoin you can't find someone who did that to you because it has no definite names you will just put the bitcoin address and that's it.

6 years ago

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jayjaydimson

Bitcoin is one of the highest cryptocurrency all over the world. But I don't recommend everyone to use it because Bitcoin has no exact name and information. So if you get scammed on Bitcoin, you won't know who are you going to ask because it has no information.

6 years ago

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mhingnhormz

The Big question about Bitcoin BTC answered: 2020? maybe but in my opinion about investing in bitcoin it was to risky. We didn't know when it ups and suddenly down. I want to suggest if your a newbie in bitcoin to collect some bitcoin in a free bitcoin faucet, therse an apps that give a satoshi every 15min., just collect and collect and if you think you need to use it to risk for the ups and down then it was not big deal since you only collected it for free.

6 years ago

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