Bitcoin @ 7k and dropping bad...

[duffrageous]

There will be traders lining up to buy hundreds of bitcoin at 1k. Most of the bitcoins were mined when the price was under $1k, but I don't think these people plan on capitulating at $1k. Judging from everyone I've talked to in crypto, they will rebuy from $3k-$5k. I haven't found anyone that plans to rebuy under $3k yet. More shorts are closing as we go under $6k. A short-squeeze could be building. https://www.tradingview.com/symbols/BTCUSDSHORTS/

[H4ck]

I wonder if slokor is sweating............hehehehe

[yankee]

I remember reading aspkin saying that 30k BTC by year end was a conservative number. Crypts is a huge gamble unless you are getting it for payment of services. IMO anyways.

[nate]

I think this is the best thing that could have happened... I have more faith in BTC than I do USD for the future and I want to accumulate them cheap. Not at prices over 10k... But if I had to I would.

Its a unconfiscatable asset with a verifiable limited number of supply... Much better concept than the 1 cent a month I get from the bank in interest.

But realistically I hope most people doubt it.

If you pay attention to what's going on with other projects it's a joke. They're better in sales than they are at development.

The secret service is about to come down on privacy coins (who would have seen that coming?)... Monero is the only other good (currency) project... But its going to have regulation issues.


People are crying about price right now on the mining discord Im on... But I love these low prices. Less people mining on the network so less competition and not many miners buying new hardware. I just bought another Nvidia GTX 1070ti off one of the accounts I cant withdraw from. I already mine at a loss since I dont sell any of the Eth I mine so low prices are better for me all around the board.

I agree with Aspkin... Im thinking somewhere around 40k by November... But I hope not... The next BTC halving is right around the corner and I'm sure the price will adjust 6 months before. That would put the run up around October of 2019

[slokor]

I agree wholeheartedly.
And jasrky541 - to answer your question - no Im not sweating.
I started accumulating bitcoin from my sales here when the price of Bitcoin was $170 back in 2015. I accumulated the majority of what I have now when the prices were between $170 and $600. I still remember the days (oh so long ago) when I used to get more than 1 bitcoin as payment for an account.
Then I made the foolish(?) move when it hit $2400 to sell a bunch to recoup the initial investment. So right now the entire amount of Bitcoin I have is pure profit.
I did sell a bunch of it when it hit 18k and then rebought and doubled up when it hit $8.5k.
In other words - BTC would need to drop to under $500 for to feel I made the wrong move in holding on to it.
But like nate I'm a very big believe in the future of Bitcoin - as opposed to whole these other garbage cryptocurrencies and joke ICO tokens that try to pretend to be crypto currencies. It IS digital gold.
I said it before - Im looking at the range of 3-5 years before I even think about cashing out any of my holdings. If all goes my way ill retire off of these holdings sooner rather than later.

[Elifkhan]

I predict by year end (2018) it will have gone up significantly as uses cases come to fruition.

[yankee]

nate, you feel that the government AKA IRS cant touch your BTC in the very near future?