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bitcoin price rising - alternatives for portfolio - tips for next big price rise

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  • bitcoin price rising - alternatives for portfolio - tips for next big price rise

    Hello, any of you still following the bitcoin price will have seen it hit 300 recently, and it's currently trading at around 290. This is a significant rise on the price when I first posted about this (I think it was about 230 at the time). The long term trend for months has been upward. Instability on the world's stock exchanges and currency fluctuations mean BTC is increasingly seen as a safe haven. In 2017, the hash rate to mine bitcoins will double (twice as slow to mine), making them that much more scarce as they move towards total amount that will ever be produced. I'd expect there to be a significant rise around this time.

    For those of you wishing to diversify into digital currencies, I think Ethereum is the next best bet. It has the official backing of several major banks and its price has tripled in recent months. It could be the next bitcoin - which means that if you're interested, get in sooner rather than later. Don't forget, when bitcoin first starting trading it was only a few cents a coin, and even when I got on board it was only 10 a coin. At a current price of 290 a coin, that has to represent the best single investment available on the planet in recent years. Ethereum is currently relatively cheap. I just bought 0.5 btc's worth, which equals just over 18.6 ethereum - approx. 8 a coin. If it goes the way of of BTC, it could also be worth 290 a coin (or much more) in the next few years. At 8 a coin, it may be worth a punt anyway, for people with some spare cash.

  • Stanley
    replied
    Originally posted by Blobbers View Post
    Will it ever recover fully?
    I think so, and probably stronger than ever. But reckon it's unlikely until next year or even 2020. We've had similar cycles in the past, particularly 2013/14. More and more adoption is taking place now though, more of the major players are getting in now whilst it's cheaper, and more of the fundamentals are being put in place by the devs. I'm sure some market manipulation is happening too enabling the large investors to get in during this bear market.

    Long term I remain very bullish, especially considering all the continued uncertainty around the dollar. Today's price is what it was around September last year before it went on that parabolic and completely unsustainable bull run. But I think it could still go as low as $2500 or even less, which would be an even better time to invest IMO. Can see this continuing until well into the Spring.

    #Disclaimer #NotFinancialAdvice #DoYourOwnResearch

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  • Blobbers
    replied
    Bitcoin down to $3203 a coin. That is pretty damn low compared to the over $19890 price it once had risen to. Will it ever recover fully?

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  • Brian Wilson
    replied
    Originally posted by Hubble View Post
    IOTA might be an altcoin worth having a punt on. Its USP is that it doesn't use the blockchain, but a kind of tangled distributive network. https://smartereum.com/18596/iota-mi...ws-mon-nov-26/
    Cheers Hubble, spent everything I have now for the moment but will definitely look into it. Got about 90% Bitcoin then 10% between Bitcoin Cash, Ethereum and Ripple. Only obvious one I didn't get was Litecoin so watch that one soar

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  • Hubble
    replied
    IOTA might be an altcoin worth having a punt on. Its USP is that it doesn't use the blockchain, but a kind of tangled distributive network. https://smartereum.com/18596/iota-mi...ws-mon-nov-26/

    Leave a comment:


  • Brian Wilson
    replied
    Originally posted by Stanley View Post

    Bitcoin Cash is a good tip IMO Brian, as it has more adoption, faster transaction times and lower fees than BTC. Ripple is another one that's held up quite well despite the recent crypto downturn.
    Cheers Stan. Hadn't considered Bitcoin Cash...looks interesting.

    Leave a comment:


  • Stanley
    replied
    Originally posted by Brian Wilson View Post
    I finally invested today. Got in at around $3800. Seems to be still dropping then bounces back a bit. Went as low as $3500 I think. Have a bit of cash left to invest in one of the other....maybe Ethereum or Litecoin? any thoughts Hubble, Stan, anyone?
    Bitcoin Cash is a good tip IMO Brian, as it has more adoption, faster transaction times and lower fees than BTC. Ripple is another one that's held up quite well despite the recent crypto downturn.

    Leave a comment:


  • Brian Wilson
    replied
    I finally invested today. Got in at around $3800. Seems to be still dropping then bounces back a bit. Went as low as $3500 I think. Have a bit of cash left to invest in one of the other....maybe Ethereum or Litecoin? any thoughts Hubble, Stan, anyone?

    Leave a comment:


  • Brian Wilson
    replied
    First drop in a while today.

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  • Tarbie
    replied
    Originally posted by Brian Wilson View Post
    ah bitcoin, I will buy some someday...waiting for it drop below 3k which is soon right? ;-)

    Was told in the pub told last weekend that I should be buying Ethereum. Advice from the pub is always good right?
    I bought 200 hundred quids worth of Ethereum about 6 months back..................best 100 quid I ever spent!

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  • Brian Wilson
    replied
    ah bitcoin, I will buy some someday...waiting for it drop below 3k which is soon right? ;-)

    Was told in the pub told last weekend that I should be buying Ethereum. Advice from the pub is always good right?

    Leave a comment:


  • Hubble
    replied
    Originally posted by Stanley View Post

    It's way way up over the last 20 years though. It can also be argued that it's a much safer haven than fiat if you look at what's happening geopolitically with the dollar currently, and the less stable that situation becomes the more likely gold prices will rise, as it's only natural people want their assets to hold (or increase) their value. It has genuine utility too, hence why its price is so stable.
    There's no doubt it's safer than fiat!

    Leave a comment:


  • Stanley
    replied
    Originally posted by Hubble View Post

    Well gold is worth less now than it was 5 years ago. Yes, it's relatively stable compared to fiat and certainly to crypto. But as I've said before, we're still right at the beginning with crypto and what's happened to it represents 100s of years worth of gold price fluctuation compressed into a few years. I don't know whether gold is a good long term bet or not right now. Possibly.
    It's way way up over the last 20 years though. It can also be argued that it's a much safer haven than fiat if you look at what's happening geopolitically with the dollar currently, and the less stable that situation becomes the more likely gold prices will rise, as it's only natural people want their assets to hold (or increase) their value. It has genuine utility too, hence why its price is so stable.

    Leave a comment:


  • Hubble
    replied
    Originally posted by Stanley View Post
    Hubs, just out of interest, what's your view on gold as an investment? Way less volatile than cryptos, and even FIAT. An obvious store of value. It's value is also likely to only rise the less stable FIAT becomes. So arguably all this points to it being a far less speculative investment.
    Well gold is worth less now than it was 5 years ago. Yes, it's relatively stable compared to fiat and certainly to crypto. But as I've said before, we're still right at the beginning with crypto and what's happened to it represents 100s of years worth of gold price fluctuation compressed into a few years. I don't know whether gold is a good long term bet or not right now. Possibly.

    Leave a comment:


  • Stanley
    replied
    Hubs, just out of interest, what's your view on gold as an investment? Way less volatile than cryptos, and even FIAT. An obvious store of value. It's value is also likely to only rise the less stable FIAT becomes. So arguably all this points to it being a far less speculative investment.

    Leave a comment:

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