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Thoughts on the current bearish market of Bitcoin?

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Matt

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Location: Charlotte, NC

I'd love to hear people's market predictions on Bitcoin and why the market is so bearish?

Posted on August 31, 2014 at 1:06 PM

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• Hesham_3del

  

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  Location: Cairo, Egypt

  Thread moved to "Bitcoin and Beyond"

  Posted on August 31, 2014 at 1:41 PM
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• Magic8ball

  

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  Is it just some bad news or something deeper? I thought the market would snap out of it by this time.

  Posted on August 31, 2014 at 3:54 PM
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• shopnhowler

  

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  A market is only a market. It's the bearish perspective that makes it so :)

  Posted on August 31, 2014 at 4:17 PM
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• headswim

  

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  Lots of margin trading + vendors accepting & immediately selling causing lots of downward pressure on price. Always a good buying opportunity, but like everything you should be dollar-cost-averaging over time instead of lump buying waiting for a good price - that's a good way to take big losses, fast.

  I don't think sentiment among those using Bitcoin is falling. In fact, it looks like we're overdue for another bubble and reset to a higher price.

  Disclaimer: I am no an investment advisor, DYODD.

  Posted on August 31, 2014 at 4:30 PM
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• Alchemix

  

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  Simple summer slumber. Im hoping that the cold weather brings a hot price. Either way, we are moving closer and closer to mainstream acceptance and thats a very good thing for society

  Posted on September 17, 2014 at 10:57 AM
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• Demeter

  

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  I think it has something to do with the high cost of mining, both in terms of hardware and energy. Those energy bills have to be paid and I don't know of many utilities that currently accept bitcoin. So, the miners cash in for fiat to pay the bills, which puts downward pressure on the price. They are selling whole coins and lots of us little folks only by tenths or hundredths at a time. Takes a lot more of our kind of buyers to eat up the volume of the big mining sellers.

  Then, the skittish see the price go down a bit and panic sell. I think that will start to occur, if we break $450.

  And, then, I will be able to buy 0.11 instead of just 0.1 :-)

  Posted on September 17, 2014 at 11:52 AM
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• Demeter

  

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  Well, I bought my .11 ;-)

  Posted on September 17, 2014 at 3:01 PM
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• zonda

  

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  Sorry to all BTC enthusiast but 2.0 coins are the future! You pick one or two and spread your investment from BTC!

  This is my advice!

  Posted on September 17, 2014 at 11:36 PM
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• headswim

  

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  @zonda Sorry to all BTC enthusiast but 2.0 coins are the future! You pick one or two and spread your investment from BTC!

  This is my advice!

  Nope. Bitcoin has too much momentum and 99% of the vendor acceptance. No point in a currency that has no value outside of a current niche, pump and dump market.

  It's definitely a good idea to diversify, but holding bitcoin shouldn't hurt in the long term. I think they should just stop developing bitcoin since it could be used as a financial base tool to interact with and invest in each of these new systems, which would derive value from features instead of some new monetery use (which is superfluous since Bitcoin can and will eventually handle all the transactions it needs to).

  Posted on September 18, 2014 at 12:30 AM
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• wassup

  

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  I'm confident they will rise before the end of this year, the bottom should be somewhere around here.

  Posted on September 18, 2014 at 1:52 AM
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