BTC is getting crazy with this buying frenzy! I wonder if this is the next group of mass adopters using CoinBase and the like. There was a massive spike in volume at the end of OCT. Maybe there is a lot of BTC on hold till hits accounts. Just a thought since bank transfers take so long and who wants to pay extra fees to get it instantly. My thinking is we will see some sideways action for awhile till the fork comes up and everyone starts freaking out. Unless even more people jump in the of course BTC will rocket some more. Either way BTC needs to give up some of this spotlight and let the alts recover. Good news about that spotlight, its burning into everyones heads now and thats a win for cryptocurrencies!
Maybe, it's an easily manipulated market so it's hard to say what all the interests at play are and what their agendas might be. Don't forget that there might be some news at these dizzying heights, but there will certainly be bigger news once it corrects, and financial institutions will be howling about what a ponzi scheme cryptos are -- all the while developing their own. We can't afford to be too starry-eyed even when things look really bullish. Maybe especially then.
mightytrader
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@tchat, I totally agree. We must be very vigilant and not starry-eyed. BTC price is easily manipulated. I'm not interested in buying large amounts right now; what I currently have I am content with.
@tchat, Always plan for a lose never expect a winner. Id love to give 1 btc away and receive 2 from some downline isnt, that what this blockchain fork dohicky is all about? To many people right now perceive free money unfortunately and them temptations are becoming more tangible everyday.
RahulBarua
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I agree with Mass adoption theory . I spoke to a few guys over coffee the other day .
Today i helped setup their CB accounts and 2FA and the whole 9 yards and they plan on moving to crypto .
They are bit time FOMO and may buy in with credit cards .
What i see in them is they believe the disruption is real . I did not have to sell it to them .
Only advice i gave is HODL .
PowderedToastMan
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@RahulBarua, Been talking to a lot of people about this lately because of price action and the media coverage. Its weird how one week everyone thinks your crazy and the next your some messiah bringing the dehydrated to water. Its awesome you took time out to bring some others up to speed. Keep up the good work the entire community thanks you!
Box1515
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This is big money toying with the rest of us - nothing more.
Box1515
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@Box1515, the market cap didn't grow by $22 BILLION in 3-4 days because the mailman bought $200 worth of BTC.
PowderedToastMan
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@Box1515, What if several thousand mailmen in Utah bought in? Then all the lunch ladies in Denver? So on and so forth. But yea $22 Billion your probably right.
Box1515
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@PowderedToastMan, absolutely and we'll get there eventually. But 22B in 3-4 days tells me some new big money has entered.