Winter Is Upon Us | Hacked: Hacking Finance
user

Bitcoin

Winter Is Upon Us

Posted on .

Winter Is Upon Us

Introduction

This article was posted on Thursday, 23:42, UTC.

Acorn gathering season was cut short, let’s hope you took some profits and got to high ground before the deluge. Even the big Chinese exchanges are ceasing operations. The madness has sent the Bitcoin price running away from $4,000, and in the melee a lot of otherwise solid valuations are taking a beating. The fundamental flaw in how all cryptocurrencies are valued – the amount of bitcoins and thus the amount of fiat – is revealed when the price begins to plummet. People still have faith in all those tokens, after all, they’re just losing value as the market goes.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

So what’s the move? If you haven’t sold already, there’s not a lot of recent room left to do it. If it’s something you think you might do, we urge you to make that move sooner than later. Everyone seems to think there will be buying opportunities beneath $3,000 coming up, so re-entry should be possible – and will likely be profitable. Every great dip and depression Bitcoin is followed by an upheaval of massive proportions, we’re not seeing much to tell us this one will be any different.

Spoke to a Hacked subscriber who sold at a profit, but probably late to the profit party. He was upset about some losses. I informed him that if he had losses, they were of the theoretical variety – you don’t have losses before you actually lose the tokens. Unless we’re talking about margin trading, a whole different form of savagery which had its own carnage over the past many days.

The market will have to shake people out now and then. The only players left from China will be those who’ve got the courage left to defy the government. The government itself will find some form of blockchain technology that it blesses and allows to monopolize, and other Asian-born and oriented financial technologies will have to find a way to work around that. NEO has a chance to be one of them, as does Walton. Or both. And more. There’s a lot of room for innovation yet. The Chinese government is probably mostly mad that it has missed out on the opportunity. If anyone was in a position to speculate on the moves of the market, they would have been working in the Peoples Bank of China. Perhaps the initial news, but the market reaction and the subsequent slowness to clarify, that was all very telling in the actions of the Chinese government.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

The author can tell you that he will be acquiring more of everything in this down market.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

P. H. Madore

P. H. Madore

http://phm.link

P. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link

Comments
  • user

    AUTHOR derick

    Posted on 11:49 pm September 14, 2017.

    selling now? this would be very hard thing for me to do.. too much loss already.. i feel like i should just loss everything the better..

    • user

      AUTHOR Inverstor Clouseau

      Posted on 2:52 pm September 15, 2017.

      Don’t it’s too late, and the moment as you sell the market will go straight up. Keep in mind we’ve seen this incredible price action in the past month. consider the medium term, you’ll be fine.

  • user

    AUTHOR sickettyboy71

    Posted on 12:02 am September 15, 2017.

    Buy the lows. That’s the rule.

  • user

    AUTHOR Manymoney

    Posted on 4:06 am September 15, 2017.

    Neo or Walton coin will not be a success in China, since they are pvt entitities. China will ask onchain to accept remibi.

  • View Comments (4) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    Mate Csar
    Analyst
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    Thursday Market Recap Asset Current Value Daily Change S&P 500…