Over the Last Week it Has Been Pretty Depressing in the Bitcoin Community.
Everyone I know seems to be in a state of depression post meteoric rise and collapse of the Bitcoin price. Frankly I don't know what everyone is depressed about. As I check the Coindesk price while writing this we are back to a price of $831 which was approximately the price on December 22, 2016.
I wrote my article "Bitcoin Smashes Through $800" on the 22nd of December. That was three weeks ago! Yes, I understand many of felt much wealthier for a short period of time. Then as quickly as our gains made us feel amazing it was ripped from us. I also wrote an article about my trading blunders, "My Bitcoin Trading Woes For Your Entertainment.".
The History of the Bitcoin Price.
I am not a chart reader but I would venture to guess that we will establish a new baseline soon and then continue along slowly reaching higher levels over the next year. China just decided to do away with margin trading exchanges Huobi and BTCC were the first. Watch the video by our very own Chris Coney explaining what is happening. Please don't be hard on the spelling of Cease on the video overlay. Chris works his tail off to bring us the daily Cryptoverse.
Going forward Bitcoin Looks Like it Might be Quiet for a While.
I personally believe that we might see $900 Bitcoin again very soon. Then don't forget that Kim DotCom is launching Mega Upload 2.0 at the end of February. He predicts that 2017 will see a $2,000 Bitcoin value thanks to his new platform Whether or not it reaches that level is not important. What is important is that millions more people could be introduced to Bitcoin in 2017 thanks to him.
Margin Trading Bitcoin.
I myself am a margin trader and love it. It must be the gambler in me. Personally I use Bitmex based in Hong Kong. I believe that trading Bitcoin is something that is not for the faint of heart. Also leveraging at super conservative levels is always best. If you are too aggressive you will be a snack for the Killer Whales out there.
