Hey ""Steemians"" What Up! I know we are all concerned but things will be just fine.
With all the commotion going around with the price of Bitcoin, my view on the sudden fall in the price of Bitcoin.Did it really fall?
Short answer is Yes and long answer is No.
Yes because :~3k and now down to ~2k. Definitely $1000 the price went down.
No because : Basically, it was just ~$1.2k couple of months ago(late April) and all of a sudden the huge spike nearing to ~$3k (mid June) was not a reasonable one and the growth was not sustainable either. Many new investors and whales saw the opportunity and started investing crazy amounts various cryptocurrencies just to take their profits but manipulating the charts literally for months after all the newbies started investing all their life savings into it!
As the chart shows that wasnt a sustainable growth and it was demanding a Pullback sooner or later and that goes with alt's too.
Now the question is how far the pullback ? If not for the possible Bitcoin fork that could happen ~Aug1 this is a great time to invest in it. Its at support level, just nice to invest!
We just cant go by the charts or indicator but this time around greater impact on the chart and the prices will be based on the NEWS on Aug1, as for the time being I'd like to believe and as per the charts this is nothing but a Healthy PullBack and will definitely go up in price.
Personally i wouldnt want Bitcoin to fork and i hope it doesn't. Well most probably it will though. In my next post i shall share on how i have diversified my cryptofolio just in case!
Thanks for visiting and what do you think is gonna happen to the price of Bitcoin and other cryptos?![]
Cheers guys~
No serious investor will want bitcoin to fork
The bloodbath is healthy. Punishes/discipline weak hands, bad ICOs, and speculative investors. The strong cryptos are consolidating. The pullback will discourage new ICOs from coming out and focus on better white papers while giving the market time to breathe. This is needed. This is not financial advice but my opinion: "Buy when people are fearful." Some of the good ICOs are selling for cheap and pennies. Thumbs up!!!
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Sure thing mate! Im all on for cryptos and looking into long term HODL! Buy buy buy 😎
Much awaited pullback~ To the moon 🏹🌒
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That's the right mindset. Bravo!
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Its good buy for me...i know wher i keep n will not depreciated..nit appreciated too though but am saved
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I know u've heard the word BTFD ,that's what comes to my mind anytime I see red dildos....
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Exactly mate! Now seems to be the time~
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Sure thing brother! Though uncertain, its a good buy for me too
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