Are you ready to spend crypto when market is down - page 7.

wmaurik

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Quote from: Solokan on January 15, 2023, 05:54:51 AM

spending crypto when the market is down,, is a strange thing, because when the market is down it should be a time to buy not sell.

Sounds like you've got some really good ideas on this, it's not like they're weird about selling their crypto when the market is down. But it could be that those who are selling are because they still see profits so they sell immediately before they experience a loss in a downtrend.

Quote from: Roggeredek on January 15, 2023, 06:04:40 AM

Better decision to hold than spend crypto when the market is down if the market is down, it will go up again. The cryptocurrency sector is still in its infancy and the crypto asset market is in a state of extreme volatility, which is accompanied by price volatility. When prices rise investors are attracted to the sector and enter again and face huge losses as the market crashes. But some there are specific strategies that experienced investors use to make money from cryptocurrencies.

Do you know the strategies used by experienced investors to make money in cryptocurrencies? Because I don't see them telling anyone about their strategy for taking profits in cryptocurrency, except for ordinary investors who when experiencing direct losses say bad things for cryptocurrency, even though it is the fault of every individual who must understand the risks before investing anywhere.

ginsan

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Quote from: Solokan on January 15, 2023, 05:54:51 AM

spending crypto when the market is down,, is a strange thing, because when the market is down it should be a time to buy not sell.

lol. I don't know how weak-handed people feel who dumped BTC in the $16k and $17k price area and they saw today's price where BTC was trading at $21k.

that's why we shouldn't have a higher fear ratio when we see the market is red as this can trigger a bad decision to sell.

I agree with you that when the market is down, it is a great opportunity to make an ideal entry.

even if looking at today's btc price of course btc has broken a resistance point and i think we'll continue to see big pump to come.

Mate2237

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Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

Of course yes. You have to spend to meet up your daily expenses. As for I buy Cryptocurrencies from different exchange platforms, and I spend it every week, but it is only bitcoin I am not spending but I buy and store it for long periods of time. Real bitcoiners does not think of the bear and bull market, they spend at anytime whenever the need arises. Holdling it, is the best approach but if you hungry and you need funds, won't you spend the cryptocurrency that have in the wallet? I can't killed myself because I want hold for the bull market and if in the process I died who will use the fund? Therefore I have to use them to survive first before we think of what to do.

Roggeredek

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Better decision to hold than spend crypto when the market is down if the market is down, it will go up again. The cryptocurrency sector is still in its infancy and the crypto asset market is in a state of extreme volatility, which is accompanied by price volatility. When prices rise investors are attracted to the sector and enter again and face huge losses as the market crashes. But some there are specific strategies that experienced investors use to make money from cryptocurrencies.

Solokan

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spending crypto when the market is down,, is a strange thing, because when the market is down it should be a time to buy not sell.

blockman

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Quote from: Fredomago on January 12, 2023, 05:49:27 AM

Quote from: blockman on January 11, 2023, 07:44:20 AM

That's the thing with most altcoins holders, they tend to think that holding altcoins is significant but if you look at what they're holding then it's too late for them to keep on holding it.
What's wrong is when they've found it out too late and then they start to think of cutting loss. Well, 5%, 10% or 20% are still good but if it goes like more than that then it's really quite late for them to sell at losses. But I still see some few success stories that they've made the decision to sell at losses even it's too late already but then recovers with the coin that they've bought.

It's no longer good if the lost is more than 50% but they don't have any chance since holding alts is really a risk that investors and traders needs to understand, before taking any action or participating with any alt investment make sure that you are mentality and financially prepared with what you expectand how will you react in each market movements.

Not easy but instead of spending your hold asset, if you think chance of bounce back is possible, then try to keep holding till you see the market bounce back in your favor.

It's risky and they cannot revert when the loss is already too much. And those that are in deep losses, they have no choice but to hold it until there's nothing to no hope left anymore on them.
They've just accepted their losses in there and think that it's a lesson that they should learn upon investing in altcoins. It ain't easy but learning into those experiences is a must.

Fredomago

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Quote from: blockman on January 11, 2023, 07:44:20 AM

Quote from: kzkazu on January 11, 2023, 03:10:36 AM

Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

That's the thing with most altcoins holders, they tend to think that holding altcoins is significant but if you look at what they're holding then it's too late for them to keep on holding it.
What's wrong is when they've found it out too late and then they start to think of cutting loss. Well, 5%, 10% or 20% are still good but if it goes like more than that then it's really quite late for them to sell at losses. But I still see some few success stories that they've made the decision to sell at losses even it's too late already but then recovers with the coin that they've bought.

It's no longer good if the lost is more than 50% but they don't have any chance since holding alts is really a risk that investors and traders needs to understand, before taking any action or participating with any alt investment make sure that you are mentality and financially prepared with what you expectand how will you react in each market movements.

Not easy but instead of spending your hold asset, if you think chance of bounce back is possible, then try to keep holding till you see the market bounce back in your favor.

Dickiy

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Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

The average person uses Cryptocurrency as an alternative investment instrument or income diversification considering that in my country it is still prohibited in its original utility as currency in the real world.
But I have been in this bad market several times and spent my crypto with products in the Crypto world such as NFTs and other transactions p2p and hidden , but it is still relatively rare, mostly I use crypto as an investment instrument and hedge against inflation.

xSkylarx

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Quote from: kzkazu on January 11, 2023, 03:10:36 AM

Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

You are kind of thinking that it is the end of the life of altcoin. Not all have fear over this; others will take this as an opportunity to purchase more and gain more assets. You won't be losing your funds if you are smart, like if you know the cause of the downtrend and predict that it will be up again, since it will also be your loss if you sell it and after a few months the price goes high.

Smartprofit

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Quote from: kzkazu on January 11, 2023, 03:10:36 AM

Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

In my opinion, the main problem is not that people are afraid of the bitcoin bear market and therefore panic selling their coins…

The problem is that the global economy is currently in a recession. Many countries have very high inflation rates. Goods, works and services are constantly becoming more expensive.

To maintain the previous standard of living, people spend their savings. So people sell their bitcoins (well aware that the price of bitcoin will only rise in the future).

wmaurik

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Quote from: kzkazu on January 11, 2023, 03:10:36 AM

Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

The problem of falling prices does not only occur in altcoins, but has also occurred in Bitcoin so that the problem of being patient actually has the same size for each asset being held. Altcoins can be very cheap when Bitcoin goes down, but altcoins can also recover slowly when Bitcoin starts to slowly rise again in the market. You can see at the moment that some of the altcoins are increasing in price even though the percentages are still looking a bit low.

blockman

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Quote from: kzkazu on January 11, 2023, 03:10:36 AM

Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

That's the thing with most altcoins holders, they tend to think that holding altcoins is significant but if you look at what they're holding then it's too late for them to keep on holding it.
What's wrong is when they've found it out too late and then they start to think of cutting loss. Well, 5%, 10% or 20% are still good but if it goes like more than that then it's really quite late for them to sell at losses. But I still see some few success stories that they've made the decision to sell at losses even it's too late already but then recovers with the coin that they've bought.

kzkazu

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Most people will tend to sell their currency out of fear during a market downturn. If you are holding altcoins, you should stop the loss in time to reduce the risk. It is better to lose a small amount than to lose all your funds. Be patient when holding Bitcoin, trusting that the market will rebound and the gains will continue to be reaped.

Fredomago

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Quote from: KennyR on January 09, 2023, 07:44:47 PM

Quote from: o48o on January 09, 2023, 05:35:30 PM

I have spent bitcoin from when it still was around $300. This is a lifestyle for me rather then just an investment. I admit that i would be rich if i had only saved it but the fact is that no one knew where the top was, just like no one knows now. Even if you spend crypto constantly you can make it more with successful trades, even during bear market if you are lucky and choose right coins.

Death of my friend and crypto trader reminded me that there's nothing wrong taking profits out once in a while. You need to remember to enjoy your profits while you are still alive.

Well said, we don't know what happens by the next minute. So, enjoying the profits is good. Even though we're in an uncertain world we need to have the hope and save little for the betterment of our life. My choice is to hold it and limit my spending. Maybe what I save could help in lowering my financial burden when I was in need or when I feel I can't work anymore.

Yeah right, if you can save your assets it can bring you a betterment in life when the market start to pump back, it's not easy though since you are witnessing how the market is moving and most of the times it is your fear that will push you to move your money, either to exchange it or use it for your personal needs.

You should always plan your expenses while still inside this market. It isn't easy in all aspects, but if you trust that the market
will bounce back, the good benefits will be harvested along the way.

Hispo

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Quote from: Cryptomultiplier on January 09, 2023, 05:22:49 PM

Quote from: Hispo on January 08, 2023, 08:43:55 PM

-snip-

... I am my best investment. My family too is not left out and enjoy every benefit that comes with earning as long as I keep earning. Investment for the future is only but a fraction of my current earnings.

It is about administering one's holdings, I guess.
You know, sometimes (specially in times of extreme greed) can be difficult to spend Bitcoin or even swap it for stable coins, to realize earnings. It is kind of a funny thing, it is difficult to spend at low prices because one does not want to lose the chances of profit and then when the bull market comes, it is difficult to spend because the expectations for even more profit. Tongue

KennyR

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Quote from: o48o on January 09, 2023, 05:35:30 PM

I have spent bitcoin from when it still was around $300. This is a lifestyle for me rather then just an investment. I admit that i would be rich if i had only saved it but the fact is that no one knew where the top was, just like no one knows now. Even if you spend crypto constantly you can make it more with successful trades, even during bear market if you are lucky and choose right coins.

Death of my friend and crypto trader reminded me that there's nothing wrong taking profits out once in a while. You need to remember to enjoy your profits while you are still alive.

Well said, we don't know what happens by the next minute. So, enjoying the profits is good. Even though we're in an uncertain world we need to have the hope and save little for the betterment of our life. My choice is to hold it and limit my spending. Maybe what I save could help in lowering my financial burden when I was in need or when I feel I can't work anymore.

o48o

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I have spent bitcoin from when it still was around $300. This is a lifestyle for me rather then just an investment. I admit that i would be rich if i had only saved it but the fact is that no one knew where the top was, just like no one knows now. Even if you spend crypto constantly you can make it more with successful trades, even during bear market if you are lucky and choose right coins.

Death of my friend and crypto trader reminded me that there's nothing wrong taking profits out once in a while. You need to remember to enjoy your profits while you are still alive.

Desmong

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Quote from: My ThuiHa on January 06, 2023, 02:02:43 AM

I am not ready yet. While I can accept payments in cryptocurrencies, I will consider how payment in cryptocurrencies might affect or affect me. I may find it novel to use cryptocurrencies for payment, and I will not always use cryptocurrencies for payment. I am still used to investing in cryptocurrencies for profit.

There are some persons who has no choice than to keep spending cryptocurrency every week for transaction and payment of services. There are some people that receive their payment in Bitcoin and you will have nothing to do than for them to keep spending it everyday to pay one bill and the other.

Cryptomultiplier

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Quote from: Hispo on January 08, 2023, 08:43:55 PM

I have personally found myself in a position these days which has required me to spend some satoshis.
I do not mind, since I believe those are necessary purchases for the well-being of my family, still if I could avoid to spend at these prices, I would. I have got the feeling these two incoming years will be good for long term holders and those who took the time to accumulate.

It is certainly true that those who took the time to accumulate their Satoshis or the long term holders will profit this year. This is the way I have been feeling and you somehow voiced my thoughts.
I don't mind spending my Bitcoins on purchases, because otherwise why do I go through the pain of earning if I don't intend to spend the earnings of what would profit me. I am my best investment. My family too is not left out and enjoy every benefit that comes with earning as long as I keep earning. Investment for the future is only but a fraction of my current earnings.

Ayers

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Quote from: yudi09 on January 06, 2023, 01:07:33 AM

Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

You shouldn't mention Bitcoin if you want to discuss crypto. Because in crypto there are too many junk coins that appear in the market almost every month following every trend. The current crypto space is so cluttered that we are a little lazy to keep up with developments other than Bitcoin.
Furthermore, Bitcoin is not the same as other coins/tokens in the crypto space.

But bitcoin is also a part of cryptocurrency, and it is also a cryptocurrency, a top-tier coin. And all of them have the function of serving people, so there is no need to separate them when it comes to using them for daily expenses. Speaking of investments, bitcoin is the safest but not the most profitable. Although altcoins are rubbish, and messy, but if you know how to invest and invest in the right projects, they can also make you rich. We invest in bitcoins and altcoins to make money, so there is no reason for us to reject things that can generate profit for us.

Topic: Are you ready to spend crypto when market is down - page 7. (Read 3030 times)