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Bitcoin and other Crypto...


Spy Bee
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Awfully quiet in the thread now. Have you all jumped from your windows or too busy looking for bargains?

 

Is this now the big meltdown, or just another engineered dip?

I’m in New Zealand. Just woke up at 6:14am.

ETH had a 24 hr low of US$756

 

Cryptocurrency is by definition volatile.

Doom has been proclaimed a dozen times.

People dump and dump and it stays in the dumps.

 

Then more people find out about how Cryptocurrency and Blockchain is sweeping the planet and fundamentally changing business and BOOM.

 

It all goes back up again.

 

I was beginning to get worried that prices would rise too quickly this year before I could get my hands on enough cheaper coins.

 

Apple stock tanked at one point early on.

They had failed spectacularly, and people bailed.

 

Some people hung around, however, and were rewarded handsomely. Fortune favours the brave.

 

Nay Sayers are wrongly predicting DOOM again. Yet the reality for me, is that this technology will replace it all.

 

We must each make our own judgement call.

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I’m in New Zealand. Just woke up at 6:14am.

ETH had a 24 hr low of US$756

 

Cryptocurrency is by definition volatile.

Doom has been proclaimed a dozen times.

People dump and dump and it stays in the dumps.

 

Then more people find out about how Cryptocurrency and Blockchain is sweeping the planet and fundamentally changing business and BOOM.

 

It all goes back up again.

 

I was beginning to get worried that prices would rise too quickly this year before I could get my hands on enough cheaper coins.

 

Apple stock tanked at one point early on.

They had failed spectacularly, and people bailed.

 

Some people hung around, however, and were rewarded handsomely. Fortune favours the brave.

 

Nay Sayers are wrongly predicting DOOM again. Yet the reality for me, is that this technology will replace it all.

 

We must each make our own judgement call.

 

 

Volatility is indeed spectacular, which mostly makes a mockery of any attempt of analysis (if you are not an insider). Since you went to sleep the market crashed, recovered, crashed again, recovered and looks to be sliding again now.

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Bitcoin was about $9000 when this thread was started, Ethereum $460, Ripple $0.25.

 

So, Bitcoin is considerably down (by about $2000), but Ethereum is still just under $700 and Ripple just under $0.70 at the time of writing.

Looking at the market capitalisation and the fact that every dip is now considerably lower than the previous one, it looks like most of the "dumb money" from November - December boom is gone, either withdrown as profit, or it has changed pockets to become "smart money".

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