How much lower can bitcoin go?
- Thread starter JJohn
- Start date
I remember when it was at $2000 then eventually hit $3000 everyone was raving about it going to $50,000 and some suggesting 1 million in a few years...I was assuming it was all uphill from there...From what I've read there was not even a hack or any real reason for the drop...If I back up now I will end up being slightly above breakeven...A little confused what to do...Ethereum seems to have taken an even harder hit and it was supposed to be the next generation sort of bitcoin...What's going to happen if there is a major hack or something actually technical that happens in the future?
I think I will wait one more week and slowly withdraw....
I think I will wait one more week and slowly withdraw....
irishengteacher
Regular Member
- Jan 25, 2017
- 284
- 182
I'm fascinated by this crypto bubble and I think it's because being Irish and seeing our property bubble that burst with the crisis in 2007 and seeing prices fall until October/Christmas 2012, which was pretty much the bottom.
It is interesting to see the same things happening. In Ireland, lots of people I knew suddenly become property investors even if they hadn't invested in property before that. Lots of people lost a lot of money.
I saw the burst coming, not that I am some genius, but even though I knew it was coming I didn't realise what that actually meant and how that would affect the lives of everyone in the entire country even if they hadn't bought property.
When prices keep on going up many people just can't envisage prices going down, then when they do crash they wonder how could they have been so stupid.
However one thing about Ireland that I was 100% wrong on was the rapid bounce back in housing prices, I hadn't seen that happen anywhere else. Granted I haven't researched extensively but what usually happens is that prices bounce along the bottom for many years and not rebound at the same bubble levels of growth like we have seen in Ireland since 2013.
So I guess what I am saying is, as said, above no really has a clue what will happen.
My gut would say they are crashing and will continue to crash, like Irish property prices. But then again they could defy what I think is logic and rebound like the way Irish property prices have done since 2013.
As I say it is fascinating but is something I watch from the sidelines instead of piling into.
Also this is the view of someone who knows nothing about crypto really. Much like many of those people involved in property pre-2007.
Good luck to those with skin in the game.
It is interesting to see the same things happening. In Ireland, lots of people I knew suddenly become property investors even if they hadn't invested in property before that. Lots of people lost a lot of money.
I saw the burst coming, not that I am some genius, but even though I knew it was coming I didn't realise what that actually meant and how that would affect the lives of everyone in the entire country even if they hadn't bought property.
When prices keep on going up many people just can't envisage prices going down, then when they do crash they wonder how could they have been so stupid.
However one thing about Ireland that I was 100% wrong on was the rapid bounce back in housing prices, I hadn't seen that happen anywhere else. Granted I haven't researched extensively but what usually happens is that prices bounce along the bottom for many years and not rebound at the same bubble levels of growth like we have seen in Ireland since 2013.
So I guess what I am saying is, as said, above no really has a clue what will happen.
My gut would say they are crashing and will continue to crash, like Irish property prices. But then again they could defy what I think is logic and rebound like the way Irish property prices have done since 2013.
As I say it is fascinating but is something I watch from the sidelines instead of piling into.
Also this is the view of someone who knows nothing about crypto really. Much like many of those people involved in property pre-2007.
Good luck to those with skin in the game.
RattataSteve
BANNED
- Jun 24, 2016
- 87
- 17
i think it will go down to about $400 per BTC and then it will rise up
- Mar 21, 2013
- 24,764
- 31,552
Just checked. Damn. Some people getting burned.
Billy Batts
BANNED
- Dec 16, 2016
- 5,883
- 11,015
It will never be cheap again until it crashes.might go back up in 2020
buy while its cheap
If you were dumb enough not to sell your bitcoin before the August 1 apocalypse that some people didn't believe in, then you gotta hodl until the promised land which happens after the fork and all the dust clears from the explosions and what not.
People went into LTC because they thought LOL that it would go up during the apocalypse... but I honestly doubted it and I was right. LTC has always always been tied to BTC. Even though LTC held off the crash for so long -- now it's approaching 36.
My only regret is that I got stuck in EOS :/. Wish I didn't buy it so that I could sweep up these sweet deals. Thought this crash was going to happen towards the end of July, not the second fkn week.
People went into LTC because they thought LOL that it would go up during the apocalypse... but I honestly doubted it and I was right. LTC has always always been tied to BTC. Even though LTC held off the crash for so long -- now it's approaching 36.
My only regret is that I got stuck in EOS :/. Wish I didn't buy it so that I could sweep up these sweet deals. Thought this crash was going to happen towards the end of July, not the second fkn week.
Vapys
Power Member
- Aug 17, 2016
- 772
- 512
For those of you who are asking "WHY"
https://themerkle.com/what-exactly-is-happening-to-bitcoin-on-august-1st/
https://themerkle.com/what-exactly-is-happening-to-bitcoin-on-august-1st/
Last edited:
Justkulboi
BANNED
- Dec 30, 2015
- 389
- 82
"This is an opportunity" - Warren Buffett
Buy now and join the fun.
Buy now and join the fun.
cynic
Regular Member
- Oct 16, 2010
- 405
- 45
fix your link
Vapys
Power Member
- Aug 17, 2016
- 772
- 512
Totaly truth this one
ofc like any investment, this can crash to 0 as well I guess. Guys just to add, never play your game just on one card, cause you can terribly burn