Quote from: Bitcoinwaist on November 26, 2018, 03:49:38 PM

I just want to say a few things about what i see happening.
I have been a trader a holder a price watcher for 5+ years. Bitcoin is not dying it is not going to zero etc etc. This isnt even a retail shake out. This is a game of chicken between the whales and large traders on the exchanges. My one btc sell or yours doesnt matter. Just like on the nyse. My 10 share sell of walmart is norhing. Bitcoin is a confidence game. Its a game that tests your psychological fortitude. Traders want your money(coins) and will do anything to pry it away from you. Btc is all about rumors and fud because that is the only thing that stimulates buying and selling. There are no earnings reports or sales figures to base price on like stocks. It is a pure psychology and emotional driven machine. You have to take emotions out of it people. Does it suck that we are going down? Hell yes but if you sit back and read between the lines there is an obvious reason for this dump. No one in the media or no one big heavy hitter in btc will come out and say it but whales are taking the price low on purpose. Its not one person selling 1000 coins each day and exiting. Smart money would put in a limit price and let it be filled not market sell and lose thousands of $$$ on every trade.

The bottom line is if there are no sellers of coins and the whales are runn8ng low on supply they drop the price to get sellers. They cant raise it looking for people to cash out because they hodl even more during a pump.

Bitcoin is getting so spread out amoungst hodlers and users in the world that its getting harder and harder to find coins.
So with that said. You have baakt opening in about 2 months and fidelity on the horizon. Think about it if you were a whale and had 2 months to stock up on something that is going to fly off the shelves you would do whatever you had to do to fills your bags and when the doors open make bank big time.

Guys do you realize how deeply ingrained crypto is? The Nyse is going to be selling bitcoin!!! They probably did years of research crossing their t's and dotting their i's on this jump. There is no going back. Same with the futures and etf etc. Mahor major financial institutions are putting their reputations on the line fir crypto. Its not going to fail.

Nothing has changed there is no bad news. Bch fork is a smokescreen. Prepare yourselves for next year and look at this as a buying op. Be greedy. I hope this helps calm some nerves. We are all going to be fine.

From a speculative aspect, this is just a bear market. Obviously this was bound to happen after a year of unprecedented price growth. I mean, we've seen this many times before as well, so I'm actually not that surprised by it at all.

But also, you gotta see the long term picture. As you mentioned, several institutions are already setting up their trading services or preparing to invest in bitcoin directly despite the bear market, which is something that could potentially influence the next bull market as well.

Also, I still believe that mass adoption, even if bitcoin doesn't necessarily replace fiat in its day to day uses, can happen in the future, which will definitely boost demand for sure. I'm definitely not concerned about prices at all, even though the bear market could continue on for another half year or even a year. It's a great buying opportunity for sure.