Crypto investment is high-risk., meaning you could potentially lose a big amount or even all of your investment. So if you take a debt just to get in crypto investment such as BTC, you just put yourself in deeper trouble.
Everyone can read a Poll: Some Investors Use a Credit Card to Buy Bitcoin and Then Carry Over the Balance. And according to the poll, when asked,
2. (Asked only to those who answered with “C”) After purchasing Bitcoin on your credit card, have you paid off your credit card balance?
a. 77.87% of Bitcoin investors answered “I paid off my credit card balance after purchasing Bitcoin.”
b. 22.13% of Bitcoin investors answered “I did not pay off my credit card balance after purchasing Bitcoin.”
So don't be impulsive when investing in crypto because you never really know, it might jeopardise you in the long run so borrowing money is a bad idea.
Topic: Bitcoin current situation - page 5. (Read 1023 times)
If you invest in Bitcoin, make sure that the money used is not going to be needed any time. If possible, it should be your extra savings. Otherwise, you might be forced to give your Bitcoin up for a lower price. Of course, long term investment is more preferable but then there is still no guarantee that everything will unfold smoothly. 2-3 years may be a nice investment term but then unforeseen circumstances may suddenly arise that would cause a terrible performance of the market. We should have realized that by now.
Being scared is normal feeling and most in this situtation are feeling scared for the price of the bitcoin. But if the investment they made in the bitcoin was from the extra money they still relax or calm in this happening right now.
But for the investors who use the money for their needs or not the extra money they are scared and panic because they thinking what if the price dump again so they money will decrement too.
In this situtation we need unity to pump again bitcoin value because we are the investors and users of this coin and we have the power to rise and we are the cause too why it's dumping the value.
But for the investors who use the money for their needs or not the extra money they are scared and panic because they thinking what if the price dump again so they money will decrement too.
In this situtation we need unity to pump again bitcoin value because we are the investors and users of this coin and we have the power to rise and we are the cause too why it's dumping the value.
I think current situation is nice. With coronovirus thing, everything will go online, that mean that there will be a vacuum of attention online that can be cryptocurrency and bitcoin.
It is not advisable to borrow money for some investments. That decision will lead to only two things:
Success or Failure
As we all know, cryptocurrency's volatile market can be an oppportunity to make money. Other make is as investment by buying at the dip. But it is a big NO to get a capital from a borrowed money. There is always a deal "when" that borrowed money will be paid. What if the market goes down and down and it takes so many months before it recovers? How can you gonna pay it?
However, I can say I am the categorized on the first type mentioned above. I do some long term investments. Thus, not making me panic whether the market went bearish. I can wait and I am used to this long term hold.
Success or Failure
As we all know, cryptocurrency's volatile market can be an oppportunity to make money. Other make is as investment by buying at the dip. But it is a big NO to get a capital from a borrowed money. There is always a deal "when" that borrowed money will be paid. What if the market goes down and down and it takes so many months before it recovers? How can you gonna pay it?
However, I can say I am the categorized on the first type mentioned above. I do some long term investments. Thus, not making me panic whether the market went bearish. I can wait and I am used to this long term hold.
Totally agree with you. Bitcoin almost every year experiences a rise and fall, and people who engage in cryptocurrency do not panic, but use such situations for their own benefit. Emotions and crypto trading are not compatible. Here you need only cold prudence and the brain.
The kind of people in your no. 2 I think is predominant in this crypto-sphere. Specially during the boom of 2017, many noobs, lots of them irrational, thought that bitcoin is a get rich scheme. So they learn their lessons in hard and very expensive way, maybe majority have exited, or burned out.
Crypto is very different from the rest of the market, it has become a speculative asset now, meaning it's going to be more volatile, investing is easy, but can you remain in the market if you see the price free falling? or are you going to push the sell button? As far as borrowing though, it has a lot of disadvantages that's why it is not recommended, even in traditional financial markets.
Crypto is very different from the rest of the market, it has become a speculative asset now, meaning it's going to be more volatile, investing is easy, but can you remain in the market if you see the price free falling? or are you going to push the sell button? As far as borrowing though, it has a lot of disadvantages that's why it is not recommended, even in traditional financial markets.
This is the reason why in crypto, you only invest what you can afford to lose. Because it is high risk investment, it is not advisable to use someone else's money.
People who are in this for long-term are those who believe that bitcoin has future and I think I am one of them. We have seen so many ups and downs of bitcoin, yet, we are still here. Adoption is growing, and so is the demand. I strongly believe that we are still in the positive direction even with the crisis that we are experiencing right now.
The kind of people in your no. 2 I think is predominant in this crypto-sphere. Specially during the boom of 2017, many noobs, lots of them irrational, thought that bitcoin is a get rich scheme. So they learn their lessons in hard and very expensive way, maybe majority have exited, or burned out.
Crypto is very different from the rest of the market, it has become a speculative asset now, meaning it's going to be more volatile, investing is easy, but can you remain in the market if you see the price free falling? or are you going to push the sell button? As far as borrowing though, it has a lot of disadvantages that's why it is not recommended, even in traditional financial markets.
Crypto is very different from the rest of the market, it has become a speculative asset now, meaning it's going to be more volatile, investing is easy, but can you remain in the market if you see the price free falling? or are you going to push the sell button? As far as borrowing though, it has a lot of disadvantages that's why it is not recommended, even in traditional financial markets.
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Those people shouldn't have invested at all. Invest only your own money people or you won't be investing but gambling.
By investing someone else's money you're bringing a third party to the mix. This third party will be able to put pressure on you and disrupt your trading strategies and if you ever lose money that third party will come after you. It will happen even if it's your parent. They will remember your mistake and remind you about it scaring you from making bold moves with your own money.
Created this topic for some bitcoin investors to read about the current situation, please read and share your comments with me.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
We definitely know Bitcoin did not cause anyone to lose money in the long run. Bitcoin is still promising for everyone. And for the big price cycle, things aren't going well for now. But I think this cycle will definitely break somewhere. For this reason, we have to be careful when investing.
Exactly, that's what we all know.
If you do a long term invest in bitcoin you will get your reward, Always!
Cycle will break and price will rise, don't forget are getting near to the halving check the count down here: https://www.bitcoinblockhalf.com/
For more information about the bitcoin price in the long term I would like to kindly refer you to my post here: https://bitcointalksearch.org/topic/m.53903967
Maybe I'll update the analyze soon.
Much appreciated for your contribution in this topic.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
The price of bitcoin is not "falling down", after the corona virus scare that led to a crash in price two weeks ago, the price has been stable between 6k-6800, and that is not bad imo, the likelihood of losing money is constant/permanent in bitcoin investment, and every investor should know that.2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term..
They should not/never have invested with money to be repaid(loaned/borrowed), only if they are new investors, only then can they claim not to know that.Thank you contributing here
With all respect, I don't know how do you define "falling down" in your language.... maybe decreasing the price from 10K to 3.7k?
Yes, we are all living in the same world and we know about the corona virus panic. The point of writing this topic was to giving some advice
I'll make it clear for you:
1. Invest with your money if you don't need it.
2. Don't panic, the price will rise
About the second part of your comment, I guess you could simply say I agree instead of writing the whole sentence.
And as the panic still exists the price is not stable yet
This is a topic to make everyone calm down. For example, some people they bought BTC on 10K.
However I believe you wanted to just say you agree with me. Thanks again
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
The price of bitcoin is not "falling down", after the corona virus scare that led to a crash in price two weeks ago, the price has been stable between 6k-6800, and that is not bad imo, the likelihood of losing money is constant/permanent in bitcoin investment, and every investor should know that.2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term..
They should not/never have invested with money to be repaid(loaned/borrowed), only if they are new investors, only then can they claim not to know that. 
Created this topic for some bitcoin investors to read about the current situation, please read and share your comments with me.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
We definitely know Bitcoin did not cause anyone to lose money in the long run. Bitcoin is still promising for everyone. And for the big price cycle, things aren't going well for now. But I think this cycle will definitely break somewhere. For this reason, we have to be careful when investing.
Created this topic for some bitcoin investors to read about the current situation, please read and share your comments with me.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
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