Bitcoin - Crypto investing and trading discussion The official Stockaholics crypto investing and trading discussion thread.
BTC hits 900$ per coin! Cryptocurrencies are flying through the roof. This is due for the massive amounts coin/gold being purchased by China/Venezuela. The economy is in turmoil and their currency is continuing to fall. Investors/everyday people are preparing for the next financial crisis. They are trying to incorporate a unit of account that also has a store of value (and cannot be impacted by inflation). I truly believe this is the future of money, and I think we will see decentralized money become more popular. (Bitcoin is up over 100% on the year)
I agree with you. It continues to take on its value, continuously spiking in price. As of today the value of 1 bitcoin is = $902.97 Tracing back the year 2009, Satoshi Nakamoto of Japan introduced the new currency, bitcoin. The basic concept of this eventual popular digital currency is that people can pay for their commercial transactions without a middleman or a third party broker like banks.
That's it, and it's playing out just like the early adopters thought and people still don't know what it is. Soon people will not be speaking in bitcoins and will be speaking in Sotashi's
800's lasted 48 hours. 900's...having a little trouble with 1000 here as expected. I figure the first big daily dip will be bought quickly
Just touched 1158 on Huobi (chinese beijing exchange, they usually lead the US considering 95% of the volume is chinese)
Bitcoin has had a great start in 2017 with its value rising to more than $1000 to three year highs. Forget the performance of oil, Bitcoin saw the steepest climb of 129% in 2016. Several factors have and will contribute to the rising value and acceptance of this cryptocurrency: 1) In 2017,where higher inflation will be the norm - be it due to currency devaluations,continued QE by Govts. etc. - bitcoin with its restricted supply, will increasingly be used as an inflation hedge. For eg. in 2016, Bitcoin usage in Venezuela increased seven fold as investors turned to alternative methods of preserving their wealth in a hyper inflationary environment 2) A rising dollar driving currency devaluations, cash shortages from demonetisation, govt. imposed capital controls, geopolitical concerns led to increasing use of Bitcoins in China, India and Europe in 2016 as it gained importance as an independent currency due to low correlation with other currencies and assets and one that is free from central bank or govt. controls. This trend is expected to continue in 2017 3) Credibility and acceptance for Bitcoin have been increasing as a number of countries are in favor of legalizing the use of Bitcoins and there is widespread merchant adoption. For eg. Russia legalized use of Bitcoin recently, Nigeria and Vietnam are considering making it legal. 4) 2017 could see the approval of Bitcoin ETF by the SEC which would make it easier for investors to invest in Bitcoins, thereby driving demand and price. Read more at http://www.cityfalcon.com/
Im a big believer in bitcoins future, but this thing will trade like a penny stock and have -50% dips from extreme levels, which should scare the crap outa traders!
Definitely....My bitcoin Rules: 1.Never Short Bitcoin (even though I did lol ) (Have lost alot doing that) 2. Never chase Bitcoin 3. Buy 25% plus 1 day dips lol
How did you Short Bitcoin? Did not know there was an exchange that allowed this. I will be buying the dips but will wait for further dips first. So far trend is upwards
where are you guys purchasing Bitcoin? I need to do some more research on it, all the sites that i find are advertising other tickers etc.
trading bit coins is very risky business. The rally and crash that took place was mainly from China which has accounted for 98% for the last 6 months. They trade bitcoins onshore and then sell it offshore for another currency then move the proceeds to bank accounts outside of China this is how the get around taking cash out of China. The Chinese government is aware of this and with the trade war on the horizon one should be very careful with trading this now cause it will get regulated and then you will catch the falling knife.
That would mean that they would make price drop to lows and then push prices higher up to sell when money is abroad to get maximum gains profits for moving money out of country. That would mean very high volatility.
