Is Bitcoin heading to a new low?
By Mohd Waqas
@Waqsiii (22)
October 30, 2018 4:36am CST
The worldwide known crypto currency Bitcoin has been doing rounds over the social media quite frequently and is said to be the smartest store of value in today's era. But, is it worth investing in bitcoin today?
Well, the answer in my opinion is, A BIG YES!
Why?
Because the technology behind bitcoin known as "Blockchain" is widely accepted and appreciated by big names such as SBI, IBM etc.
Launched back in 2009, the price of each bitcoin has surged more than 100000% till date making a high of ~$19800 in early January 2018 while presently trading at $6400. As per the technical analysis, the bitcoin's price has already corrected about 85% since January highs and people are extremely panicked about the future of bitcoin. Like Warren Buffet said, "Buy when people are fearful, and sell when people are greedy".
Hence, I believe this is the right time to invest in bitcoin with a long term vision that could be really fruitful in future. Kindly do your own research and do NOT solely depend on my advice. Have a good day peeps!
9 people like this
13 responses
@indexer (4852)
• Leicester, England
30 Oct 18
So where are those profits coming from?
Presumably from the pockets of those people who are being told that they will make a fortune. In other words, this is a huge bubble that will burst eventually and make a make vast numbers of people wish they had never bothered!
History is littered with similar stories.
4 people like this
@Waqsiii (22)
•
30 Oct 18
Hi John, I appreciate your opinion in this regard but if we consider this as a bubble, then even stock markets crash at some point and we can also go through the history of Amazon's stock price which crashed to more than 80% in early 2000s but we can already see where's Amazon today. Bitcoin alone couldn't succeed according to some people but the tech behind it is actually worth praising. In my opinion, there's a lot more room for crypto currencies to grow in future and people who called it a bubble at $1k still brag over twitter about their forecasting of the "crash" whereas, it's still above 6 times from where they predicted the crash.
@LadyDuck (460450)
• Switzerland
30 Oct 18
@Waqsiii I do not need suggestion, I have been in the financial market all my life, but I do not give opinions online not knowing the position of people, how much they make for living and how much they can lose without problems. This is the question that a seriou financial advisor always asks "how much you can lose that will not change your financial situation?". Some are in troubles even losing 50$.
1 person likes this
@Waqsiii (22)
•
30 Oct 18
No, not at all. I'm just here to share my opinions and acknowledge people about crypto currencies and I'm trying to clear the doubts people have in their mind. I'm one of those persons who bought his first Bitcoin at $750 and first Ethereum at $6 so I don't really care about the current market situation because my portfolio is still a lot more times up from where I entered and I'm still holding my positions tight for the next cycle. If you ask me, this is the time people should consider accumulating crypto currencies for at least the next 3-5 months because selling the coins at the bottom is not really a smart move. People like me can already see a huge wave of institutional money coming into crypto space within the next 2 years and this is the time to prepare for the ride! :)
@ilocosboy (45157)
• Philippines
30 Oct 18
I didn't invest bitcoin but my friend does. Maybe he's worry again because of declining trade.
3 people like this
@Waqsiii (22)
•
30 Oct 18
Holding is the best option because bitcoin is already making a support at these price levels. Once the trend reversal occurs, we might get to see bitcoin making news highs again so tell your friend not to miss the next wave that's just around the corner.. :P
1 person likes this
@Waqsiii (22)
•
2 Nov 18
Yes Michele, I do. I bought a ledger Nano S from bitcoins to store rest of my altcoins safely in it! :)
@Waqsiii (22)
•
3 Nov 18
I'm sorry to hear that @theend ! Maybe you entered at the wrong time? I'd always suggest people to check the depth of the water with a stick first berore going all in. Try to accumulate such things slowly with proper risk management and analysis. If you're not so experienced in technical analysis, maybe I could help you next time. Good luck to you! :)
@Nickzter1331 (4229)
• Philippines
30 Oct 18
i gave up bitcoin 4 months ago. hehe
1 person likes this
@Charlesbronson (801)
• Indonesia
29 Dec 20
Yes, electronic money markets such as the "Bitcoin" blockchain have indeed been developing for a long time now. But I am still afraid to play in this area because of the fast movement. How about you?
