[Bsims]

I'm afraid the bitcoin balloon has sprung a leak. The second half of 2017 saw tremendous growth in the price of BTC (and other alt-coins). This was accompanied by (and largely created by) a lot of media hype. Tons of new people bought into the hype, jumped in, and essentially contributed to the rising prices.

The first part of 2018 has reversed the trend. Bad news, potential regulation, and the advent of a lot of crap coins have all contributed to negative hype. People have bailed and consequently the prices have fallen. Unfortunately, I don't see this trend reversing itself in the near future, if ever. I think BTC will somewhat stabilize, and trade in a fairly narrow range. I think some of the older alt-coins will also. The crap coins are probably history. They were largely fed by pump and dump schemes and not some underlying value.

My overall portfolio value has dropped by about two-thirds since last fall. Fortunately I did withdraw a decent amount before the leak began. Enough to make the past year worthwhile. I hope some of the rest of you have had better experience. I feel bad for the people who jumped in late last year and used borrowed funds or ************ to buy these currencies. They've learned a costly lesson.

I think there is still some money to be made in trading these currencies, but at a lot lower rate of return than before. Hopefully someone out there can convince me that my outlook is overly pessimistic. Give it a shot.

[Waterstpub87]

Unfortunatly, I don't think the future of crypto-currencies is that bright. I agree, if I had to buy a crypto currency, it would certainly be bitcoin. I was skeptical from the beginning. Lots of head winds though:

1. Square money which drove the price up to 20,000 will never touch bitcoin again. It breaks my heart to think of the people who took out mortgages and maxed out ************ to buy.

2. All those lost funds will certainly lead to higher regulation. The government tends to step in when things like that occur, especially with investments.

On the plus side, transfer prices and times are back to being normally, instead of crazy expensive and slow.

[Outsider626]

I agree with everything you said. After the mega fall of Bitcoin and other coins, the average joe's will be scared to invest and drive the prices up again. I don't see Bitcoin reaching 20k again.

[raiders72001]

I think it's just a normal cycle for bitcoin. It's been a lot worse in the past. It went from $1200 to $200. This time it's only $20k to $7k.

[Optional]

I'm not holding any so dont care too much, but remain confident Bitcoin will make a new high again. When? not as sure but I bet we see the next significant up move by May/June this year.

[TheMoneyShot]

The balloon is still there.... but not as BIG.

If Bitcoin drops below 5k.... then we can call it a balloon.

Right now... I think it's about the right price.

[DwightShrute]

you either believe in the concept of cryptocurrencies of not. Bitcoin that is. I think its brilliant and here to stay. I hope I am right. I see it being 20K or 40K or higher in the not too distant future.

[TheMoneyShot]

you either believe in the concept of cryptocurrencies of not. Bitcoin that is. I think its brilliant and here to stay. I hope I am right. I see it being 20K or 40K or higher in the not too distant future.

Would love to believe your outlook. But how do you estimate a price for a coin being 20k-40k? What would need to happen to make Bitcoin have a value like that?

I kick my own ass for not selling at 19.2k 18k 17k etc.

[DwightShrute]

Would love to believe your outlook. But how do you estimate a price for a coin being 20k-40k? What would need to happen to make Bitcoin have a value like that?

I kick my own ass for not selling at 19.2k 18k 17k etc.

hindsight is 2020. I own a few bitcoins .... sure you always wonder if you should have sold them at 19K, especially now that its hovering around 7k. That shit will drive you crazy. I invested only what I can afford to lose. If it goes zero, it won't affect my life. If it goes to 60 or 100K then its a huge bonus.

Everyone has an opinion as to where bitcoin will end up. Some say it will go lower and some say it a great time to buy because the second wave is coming. Who knows.

[Arky]

I'm afraid the bitcoin balloon has sprung a leak. The second half of 2017 saw tremendous growth in the price of BTC (and other alt-coins). This was accompanied by (and largely created by) a lot of media hype. Tons of new people bought into the hype, jumped in, and essentially contributed to the rising prices.

The first part of 2018 has reversed the trend. Bad news, potential regulation, and the advent of a lot of crap coins have all contributed to negative hype. People have bailed and consequently the prices have fallen. Unfortunately, I don't see this trend reversing itself in the near future, if ever. I think BTC will somewhat stabilize, and trade in a fairly narrow range. I think some of the older alt-coins will also. The crap coins are probably history. They were largely fed by pump and dump schemes and not some underlying value.

My overall portfolio value has dropped by about two-thirds since last fall. Fortunately I did withdraw a decent amount before the leak began. Enough to make the past year worthwhile. I hope some of the rest of you have had better experience. I feel bad for the people who jumped in late last year and used borrowed funds or ************ to buy these currencies. They've learned a costly lesson.

I think there is still some money to be made in trading these currencies, but at a lot lower rate of return than before. Hopefully someone out there can convince me that my outlook is overly pessimistic. Give it a shot.

A pep talk for ya, Bsims:

[RocketMan$$$]

I think the investment part is over

[Bsims]

I watched the video and took away a couple of points.

Just another person trying to scratch out a living earning money by posting videos on YouTube. Hopefully he is doing well enough he won't find the need to get a gun and attack YouTube headquarters.

The crypto-currency area is beginning to look like a religion to me. This guy is making a living by posting sermons telling the believers what they want to hear to make them feel better.

His basic message was that it is a conspiracy of the "big boys" and banks to draw out the small folk. I don't understand it.

I'm pretty much agnostic when it comes to religion and the future of crypto-currencies.

Arky, I'm pretty sure you don't buy into this guys stuff.

[Arky]

I watched the video and took away a couple of points.

Just another person trying to scratch out a living earning money by posting videos on YouTube. Hopefully he is doing well enough he won't find the need to get a gun and attack YouTube headquarters.

The crypto-currency area is beginning to look like a religion to me. This guy is making a living by posting sermons telling the believers what they want to hear to make them feel better.

His basic message was that it is a conspiracy of the "big boys" and banks to draw out the small folk. I don't understand it.

I'm pretty much agnostic when it comes to religion and the future of crypto-currencies.

Arky, I'm pretty sure you don't buy into this guys stuff.

Well, I do agree with the long term hold philosophy and I think there were some good points made about "not freaking out" when the market goes depressed. I've learned that the roller coaster ride is normal and even healthy. I have a new influx of cash coming in and find myself in the odd position of hoping that the market stays down (or goes lower) until it gets here. If it's dying, I'm buying. Improving my position. (off topic: I'm also going to invest in some silver, start "stacking" as they say). As for peace, love and anarchy (?), I went through that phase some 40-50 years ago....

It's like the word "investing" has a different meaning today, especially in the crypto space. Some people (not pointing at you) that get in it, expect it to double (or more) within weeks/months and reserve the right to bitch heartily if it doesn't. That's not investing, that's trying to extract money from a temporarily broke ATM. Patience. Hodl. Give it a couple of years. I think some weren't ready to "invest" in the true sense of the word....

I do think it can be frustrating if you're using crypto for gambling and have a wallet of the stuff on the side that just keeps devaluing before you can spend it. That could be irksome, I suppose. One needs to take steps to not take a bath while idling....

[xKMACKx]

Tether props the price up with make believe currency, the public follows to get the price up to around 20k. Tether auditor drops out (smart money cashes out immediately), price drops, and what we have now is more of an accurate price.

[raiders72001]

Tether props the price up with make believe currency, the public follows to get the price up to around 20k. Tether auditor drops out (smart money cashes out immediately), price drops, and what we have now is more of an accurate price.

The Tether price was tied to the US Dollar. Even though they claimed that it was backed by the US dollar, it really wasn't. The auditor then dropped out. When subpoenas were sent to Bitfinex, Tether, the price of Bitcoin dropped.

[mikejamm]

It's still the best way to get cash into your sports book without a big hassle and payouts are quick and efficient. Yeah, there's been a market correction, but we all kinda seen that coming. Of course if you invested when it was in the stratosphere, your ass is probably pretty sore. I'm stay'in with bitcoin though, like Bsims said, all those other crap coins are or will soon be junk.

[StackinGreen]

This is clearly a buying point, especially if you are a long term holder.

[chilidog]

This is clearly a buying point, especially if you are a long term holder.

Exactly, HUGE buying point. But people are too short-sighted. Same reason why most sports bettors are losers. They can't be patient. It's something that has to be learned, and then mastered. Until then, they will remain losers.