Quote from: Magkirap on October 16, 2019, 09:44:19 PM

Quote from: hypersonic1 on October 10, 2019, 12:58:11 PM

The Bitcoin price certainly affects many things. It can help us gauge adoption along with other metrics as well as the sentiment of people who are currently invested.

Bitcoin is not a get rich quick scheme. It is the currency of the internet designed as a super hard form of money to challenge many status quos.

Even if we were to pay more attention to the price. Many of the people worrying don't know the basics of TA. I'm here to tell you that if you own any amount of BTC you are riding a rollercoaster that is affected by adoption, politics, whales and many other factors out of your control. The one thing you can count on is the math, The fact that is was the first, the 21million cap, it's security, and the torrent of frustration it brings older businesses who have grown lazy and abuse the masses(banks).

From a TA standpoint (i'm a noob with a background in music but i've been studying and doing paper trades for years now). Bitcoin has been consolidating for a few months after a pullback from a 1 year high. The fact that it's been trading in the range its at means that the whales and traders who bought in late can't affect the die hard HODLERS who were already in the market in early 2019. You can find articles explaining the demographics of Bitcoin holders. Those who bought in at 10k+ were the ones selling.

Other than that we have some whales playing in the ocean.

Remember this is about change and technology.

If you believe in the ideals money is more than likely to follow.

Be well!

One thing we should remember is that Bitcoin isn't like other normal currency it was quite complicated. There were times that it was on high and there were times that it goes down hardly, it is being affected by trading obviously and there were whales who are manipulating the price. What we need to be is to become aware about its volatility and consider that it is a normal currency but a currrency that will give you profit in a single time or on the other hand can make your funds loss.

That is one of Bitcoin's features, no wonder how it normally affects us but people had already adopted such changes and learn something of it. A strong market holder and traders won't just easily give-up and think of negative but rather to keep holds because they believe that Bitcoin will gain more supporters that could help to uplift its price.