Bitcoin in the next phase of growth

[Old Man Crypto]

So I’m starting to buy in that we’re back into a growth period for crypto, and I think bitcoin leads the way.

I don’t see any coins pulling out 600% profit anymore. Those days have come and gone. Rightly so. But where do we realistically go from here?

Bitcoin hasn’t been swinging wildly, the futures market got that under control like the big boys wanted. Fidelity starts offering institutions bitcoin purchases and storage solutions shortly. Retail investors offers won’t be far behind.

So bitcoin will benefit from this new, more serious attention. But what’s next? Does it stay as an investment or store of value, or does it stabilize and become a transactional currency?

And which coins come along with it?

 

[The CC Forums]

So I’m starting to buy in that we’re back into a growth period for crypto, and I think bitcoin leads the way.

I don’t see any coins pulling out 600% profit anymore. Those days have come and gone. Rightly so. But where do we realistically go from here?

Bitcoin hasn’t been swinging wildly, the futures market got that under control like the big boys wanted. Fidelity starts offering institutions bitcoin purchases and storage solutions shortly. Retail investors offers won’t be far behind.

So bitcoin will benefit from this new, more serious attention. But what’s next? Does it stay as an investment or store of value, or does it stabilize and become a transactional currency?

And which coins come along with it?

Bitcoin remains a speculative high risk investment, and stable coins coming along become the digital transactional currencies the world needs.

The rest of the current tokens? Most will gradually fade away while a few with strong platforms that solve specific problems better than existing solutions will survive.

A logistics token will be needed. Maybe 2 or 3. Specialized gaming apps will be developed on ETH. A few altcoins will create uses and functions we haven’t thought of yet.

But of the current nearly 2k tokens out there right now, only a handful will survive. It’s the next round of platform development that holds the most promise. Honing in on specific needs and providing tools for specific industries. This is where crypto matures and legitimate profitable projects arise. Keep your eyes on those.

 

[BitFit]

Well I thought I should check back in now that we’re getting close to $10k again.

I never sold, but I only added a tiny bit at $5500. I wasn’t brave enough to buy in the $3-4K range. What a mistake.

So now we’re heading up. Does the growth continue? Should I look for a dip to add a little more?

How much is Facebook adding to bitcoin’s price, either due to the fact they’re interested in crypto now or due to hatred of FB causing people to buy bitcoin instead. Help me out.

Buy, sell or hold? That should be a regular segment here.

 

[Old Man Crypto]

Well I thought I should check back in now that we’re getting close to $10k again.

I never sold, but I only added a tiny bit at $5500. I wasn’t brave enough to buy in the $3-4K range. What a mistake.

So now we’re heading up. Does the growth continue? Should I look for a dip to add a little more?

How much is Facebook adding to bitcoin’s price, either due to the fact they’re interested in crypto now or due to hatred of FB causing people to buy bitcoin instead. Help me out.

Buy, sell or hold? That should be a regular segment here.

Bought at $5500? I think I would’ve sold that near $14k because the runup happened so fast. Now that we’re in the $11k range, I’m a watcher. If it drops back to under $9k, I’ll add a little more to my positions. But if we get a sudden rise, I may set some Limit sell orders at stepped up prices above $15k then buy back if it slips to $11,500 again. The risk is always that it won’t slip back and you’re out of the market. That’s why I don’t dump my whole position. Or really rarely trade anyway. I’m still a buy the dips guy. You don’t hear that much anymore. Maybe that will turn out to be good. Use a strategy everyone else abandoned.

 

[CryptoTC]

It’s been a nice run up since you guys bought in, topping out near $13k before dropping.

So what now? @Old Man Crypto We’re back below $10k today. Is that a buying opportunity or are we headed back down?

My personal take is that some large investors are slowly and quietly moving into the market to avoid driving prices way up quickly. I have no evidence for that except speculation on reddit and Twitter. Neither is what would call reliable sources of confirmed information

But all those announcements from all those firms claiming to be adding bitcoin storage and trading will eventually pan out. They’ve been mentioned here before, but most of the announcements covered here never came to fruition. At least not yet. But the big firms can’t avoid bitcoin forever. Some customers will want it, and they won’t let Coinbase keep all the business. IMHO of course.

So I think we see a gradual trend upwards with some dips like this along the way. I say accumulate on the dips, but sell if there’s a big spike.

 

[Old Man Crypto]

It’s been a nice run up since you guys bought in, topping out near $13k before dropping.

So what now? @Old Man Crypto We’re back below $10k today. Is that a buying opportunity or are we headed back down?

My personal take is that some large investors are slowly and quietly moving into the market to avoid driving prices way up quickly. I have no evidence for that except speculation on reddit and Twitter. Neither is what would call reliable sources of confirmed information

But all those announcements from all those firms claiming to be adding bitcoin storage and trading will eventually pan out. They’ve been mentioned here before, but most of the announcements covered here never came to fruition. At least not yet. But the big firms can’t avoid bitcoin forever. Some customers will want it, and they won’t let Coinbase keep all the business. IMHO of course.

So I think we see a gradual trend upwards with some dips like this along the way. I say accumulate on the dips, but sell if there’s a big spike.

You know how to get me back here for sure. Tag me and I come running. I should turn off that notification. But I’m old so I probably can’t figure out how. LOL.

To answer your question, who the hell knows? I may buy a little more at this level with my next paycheck. Haven’t been following crypto as closely lately. Just decided to let my current portfolio ride for a few years and see what happens. But maybe another $2k worth or so in a week or two if stays below or at $10k.

Might place a couple of low limit orders just to see if they hit on a quick dip while I’m napping at home, sleeping, or napping at work. Also, I don’t want to miss any dips in case I’m napping.