The next Bitcoin crash could get ugly; don't buy more than you're prepared to lose and don't panic when it hits.
I'm writing this mostly for newcomers: The April rally took us from the previous all time high of $38 all the way up to $266 and then corrected down to as low as $50. At current proportions the equivalent of that would be a rally to somewhere around $1,800 and a correction to as low as $320. I'm not making any predictions, I'm just saying that those are ranges that are in the realm of possibilities. It probably matters now more than before because this time around there are a lot more people involved, and larger sums are being spent on Bitcoin purchases. Brace yourselves for wild swings like that and don't panic when the correction occurs.
[Discussion] Anyone else afraid of the next Bitcoin Crash like 2013?
To all the Bitcointraders out there: Is anyone of you guys also worried because of that rising bitcoin currency? Basically everytime i buy keys and sell them a few days later i get less btcs because they are going up. Seeing the fact that they more than doubled in price and are on the way to a new all time high early 17 it smells like a bubble just like in 2013 when bitcoins were only worth 200 bucks again. How do you guys try to avoid such a thing? Always deposit to your bank account and only own bitcoins when buying keys? My Advise would be to get your money out of bitcoin currency as soon as the currency stops rising for more than a few days. We might see something like 1:1400 soonish and within 5 days it could be back at 1:500. When this happens we better have our money invested in keys or on our bank account! Im sorry for any spelling mistakes but im writing this on phone in bed right now :p
[ Bitcoin ] When Will The Next Stock Market Crash Happen? – Billionaire VC Tim Draper
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