First things first, BTC has a strong bearish trend which seems to be taking more time than we anticipated. It will last over the next few days probably till Segwit 2x on Dec 28, 2017. How that affects the price is yet to be seen. However, I see some traders are currently posting ideas and opening trades on coins with high potential like Stratis and Lisk which is exactly what I would do if this correction was over because let's face it, Bitcoin moves the market. If BTC is going down, can Stratis or Lisk really go up? I don't think so. We've seen this before and BTC with its 42% dominance still decides the general trend of the market. Maybe I don't like it, maybe you don't like it, but that's the way it is and if you want to protect your investment, the right thing to do will be to wait this out before opening new positions in any coin and not be fooled by temporary greens in the market. Stay safe. Good luck! :)
If 2x is coming the price should rise and very unfortunate price is down and volumes too in exchanges..so price will plunge to 9K..i think
Jefe
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@ghose12, Yes, I expect the market to do its thing. What is going to happen with Segwit2x is pure speculation. We'll see about that but right now the market is in a correction and it will continue to be till the correction is done.
Mikelikescrypto
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@ghose12, if 9k is in sight, then 5.5k likely is too. I think 10-11k is key, breaking this support shows we're in a bigger correction. End of wave 3 or 5?
TimDeleeuw
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Segwit2x will provide people 'free' coins of a possible future BTC competitor. It makes people wan't to have as much BTC as possible till just after the fork. Why do you think this time would be different? Thx!
Jefe
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@TimDeleeuw, We don't know the exact date for Segwit 2x yet. Most sources say 28th Dec but we'll have to see. You're right, it's natural for people to accumulate before Segwit 2x but people are waiting to see the bottom of this correction. I agree with you that interests are high and once a clear bottom is in sight, people are going to jump all over Bitcoin. Having said that, we don't know when that will happen. I expect we'll reach the 9k mark in the next few days which will mark the end of this correction but a bounce back from there will be a quick one and we need to be on the lookout. Thanks :)
matiwinnetou
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Thanks for your feedback and analysis, I am thinking of selling quarter of my BTC position to buy ADA and I am not sure I should. There seems to be war now between BTC and BCASH as well. The later one uses name Bitcoin which in normal terms would get sued, at least LTC and DASH, which are also forks of BTC are not trying to be BTC impostors... Anyway, back to main topic, I am considering position on ADA since BTC is in downward trend. I did not know about Segwit2x activation on Dec 28 though.
Jefe
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@matiwinnetou, Hi! Thanks for your kind words. Here's my two cents on this: You can open an ADA position if you don't mind buying at the bottom and holding in red for a while. This pattern of rise and fall has been repeating for the past few days now. BTC goes up 15% and some coins shoot up to 80% (I'm talking about Dent). Then BTC goes down and the altcoins lose all their gains for the day. Now here's the thing. For a day trader, this is golden. It's the perfect way to make money but for investors who can't or don't want to check the market every hour, it is better to wait it out and buy when the dust settles.
Alimoheb55
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Hi
Buy Bitcoin now or wait to go down or buy it
until December 28 because it has a fork. So keep all altcoin , or change all altcoin to bitcoin. What is the best time and buy price?
I have : cvc , kcs , xpm