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RE: Bitcoin is sliding, again. What's causing the drop?

in #bitcoin7 years ago

Definitely agree, there is a lot of fear-mongering out there and a lot of people investing in bitcoin who have never really held an investment through a dip or a series of dips, so they panic and sell at every opportunity. If you are a seasoned investor and see long term value in the crypto space then a dip , or multiple dips will not bother you. it is just like stock market investing, except it plays out about 100x faster from peaks to troughs! January is often a bad month, but maybe not enough January's have past to make that a firm judgement yet, however I can't see it dipping lower this year than the lows we have seen this last few weeks. This is because there are some real technologies out there linked to the altcoins in particular plus ether and litecoin with some genuine usefulness and value, some of the tech is very exciting and the coins go alongside that. When people say it has no intrinsic value, they may be partially correct for bitcoin, but not for a lot of other great projects and coins. there is a hell of a lot of cash sitting on the sides all over the world right now, people have divested stocks and shares because that market is so overvalued it is a joke, and interest rates are so low in the US and UK that no one is particularly attached to their cash in the bank earning nothing..... so once the stock market dips and once the crypto space smartens its act up a bit, less hacking, more security, more reliable and faster transfers of coins, easier to access cash on exchanges, easier to swap back to fiat etc... then I think we will see the mother of all inflows into crypto in 2018 at some point.... watch this space.... and until then, stop checking your coins and HODL.