Digital Currency Past Present Future - Bitcoin Update
The fear is that bitcoin could further drop to $8,000 (see prior post Is Bitcoin Headed Towards the Cliff?).
As a recap, bitcoin needs to break through the $15,000 resistance to confirm its bullish (as opposed to knee-jerk) ascent.
Just seconds ago, bitcoin shredded off about $1,000 from its recent high of $14,700 (just $300 shy of the resistance) and created a new support line, inching closer to the previous "bottom" of 11,500.
With this development, this could be a long and rocky road to a record high.
I believe it will keep increasing. It just dropped to its price like 2 weeks ago.
Thanks for the share
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ever since we hit record highs I have been waiting for a dip below 10k i feel thats a healthy correction! an means we will get to new record highs by new years!!" )
I'm still positive about bitcoin's long term value but I highly doubts about it reaching a new high before new year. But my guess is as good as everybody else.
BTC will die off soon and be overtaken by other coins. I’m sick of the fees and transaction time. Maybe they will fix this, but it seems to me they have given up on trying and are accepting that the fees will be high and the transaction time slow. Shame on them for letting this occur and settling with this. Sorry for the rant lol
fees and long confirmation suck I agree. It's either bitcoin dies, or it carve a niche in the crypto world to become the digital gold. If that happens, then bitcoin cash and litecoin will take its place as the main currencies. Crypto is still in its inception stage and too far from "diverging" stage though.
I hope something takes its place. BTC is hurting many when they want to move their currency. BTC can be a store of wealth, but I’d rather have my money in cryptos. Not a stock or valuable metal. BTC is missing the point of what it was supposed to be. But it may become more stable soon.
the very slow confirmation sucks. Moving your bitcoin from a wallet to an exchange to catch and profit from the downtrend takes forever and misses the timing 100%. Leaving your fiat in an exchange for an extended period of time make me awake at night. So much profit opportinities provided by cryto but the infrastructure sucks. Had to wait for several hours just for Coinbase to confirm my transfers. Coinbase is one of the most user friendly but highly unrealiable.
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