This one is a bit steeper then the last few weekends honestly a little worried about this one as we come into some changes here in 3 weeks.
RE: Black Friday - Altcoins Off!
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Black Friday - Altcoins Off!
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I agree, this dip seems quite a bit steeper than what we have been through in the last couple weeks. I am not sure what to do at this point, take profits and park in bitcoin, althought wtf is going on with bitcoin come August 1st??
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We might be hitting the bottom here soon from the looks of it the sell off is starting to turn into a bit of buying and it for sure was a larger sell off then the previous ones.
As per whats happening August 1st is that the majority of bitcoin nodes will try and force the miners to implement a protocol upgrade proposal called BIP148. Depending on how it all plays out it could and i use that word carefully cause a split in bitcoin kind of like we saw with Ethereum and you now have ethereum classic and ethereum. You would in essence have bitcoin classic running the non updated chain while the new chain runs the updated version.
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Good point....I believe Coinbase said they will run whichever BTC is of interest to users and miners and the other one will not be adopted. I think LTC will continue to fluctuate over the weekend from $44-$51 then jump Monday morning. It's possible it could hit up $50s again and then will adjust again over the weekend to the $50-55 range. I think this pattern will repeat through the end of the month and then it could shoot up dramatically if BTC hard forks. Thoughts???
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My thesis is recent ups and downs are explained by geopolitics.
The Trump Putin meeting went well today, risk off, crytpos drop 10%
Not an issue if you plan on holding long-term
https://steemit.com/politics/@davebrewer/cnn-has-to-eat-crow-by-reporting-trump-and-putin-reach-syria-deal-btc-and-crypto-prices-drop
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Interesting theory. I am a holder long-term, but sometimes I wonder if I should shift all into btc to wait it out. who knows!
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I'm right there with you on this. The uncertainty is crushing plans but it's definitely worth the risk considering what the upside may look like. Can we just blink and August 1 be here already???
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We went up from $20B overall market cap to $110B in market cap. Giving back a large chunk of that gain is highly possible so I wouldn't bet on the bottom being in just yet. Of course no one can really call the bottom. All we can do is either Hold and buy more coins the prices become more attractive or Sell if we think there will be a better opportunity tomorrow.
At the end of the day if you're in this for the long haul these price dips shouldn't be a concern as it's not the first time it's happened. In fact we have seen Three such major downward movements over the past 1 full year post every major upwards movement.
Just gotta chill and head outside for a while until things steady again :)
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