bitcoin goes down, no new rich people anymore - page 24.

Best Dreams

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Quote from: vlad230 on May 03, 2019, 08:22:45 AM

The rich people knew how to over evaluate BTC in Dec 2017 by using loads of marketing tactics (FB campaigns especially) and to use USDT (they were buying BTC with USDT massively to create an artificial demand and increase FOMO) to pull in people that didn't know how BTC works.

These guys already made a huge profit in late 2017 - early 2018. No need to worry about them

Surely those who are investors, are gonna be rich as you said already people had huge profit than even without earning they can live good life till the price recover the fall of 2018, I know very soon it will be overcome the loss as experts have predicted the market to be high in 2019 and 2020, so let’s see what actually happen, I really wish to be rich in future.

qwertyup23

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Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

I am pretty sure that most well-off investors diversified their portfolio by investing into different mechanisms and not only on cryptocurrency alone. In fact, the fall on bitcoin's price is also an opportunity to most investors in acquiring bitcoin for either short/long-term goal.

Quote from: sirohige on May 04, 2019, 11:53:32 AM

I think they are bankrupt because they are very easy to panic and they have weak hands which means that they cannot hold their assets and maybe he is trading with money that is not managed properly so there are traders who go bankrupt like that.

What most investors fail to realize is the high volatility of cryptocurrencies, in general. The price may either skyrocket or plummet without any warning and it serves as a double-edged sword that is meant to be studied, researched, and observed by investors. There are factors needed to be considered in order to at least mitigate the damage when this typical scenario happens.

Pamadar

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Quote from: vhns222 on May 04, 2019, 03:10:34 PM

I dont understand why you write this seems you are very new in crypto as if were here when price of theBTC was 3500$ then i am you woudnt write this here who said there are no rich people ? if user has 1000 btc and price is 5500 then he is still rich so be a little positive i believe big bull run would come sooner or later.

Yes,that amount still huge and when the bull start to comes back who knows how much more he'll be able to get from this industry, there's still rich investors who's willing to take the risk a d continue to support this market be more positive and chill give then some time to reassess and comes back once again and play with the market.

vhns222

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I dont understand why you write this seems you are very new in crypto as if were here when price of theBTC was 3500$ then i am you woudnt write this here who said there are no rich people ? if user has 1000 btc and price is 5500 then he is still rich so be a little positive i believe big bull run would come sooner or later.

GunsLair

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You have a strange reaction to what is happening. A cryptocommunity, on the contrary, must be cohesive and support newbies I think. You never know when you yourself can lost something or even everything. The market is unstable, don't say that.

Lanatsa

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Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

Seems like yo are happy on these situation where there are people goes bankrupt due to btc investment? I doubt that you are included to those people who do

experience or suffer losses? Grin

Here on crypto it isn't really just built up to make people rich.We are here due to technology and making some profits is just a plus.
When we do talk about investment it do always corresponds with risk so its no surprise.

DarkEagleMan

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Undoubtedly, in these times when the price of bitcoin has remained well above $5000, when for most of its existence it remained well below $1000, it is difficult for those who are just entering the business of speculation in cryptocurrencies they get rich overnight, and that is why these days we are seeing the interest of institutional investors to enter the market.

This means that even if the flow of new capital in the market continues to rise, this will only be enough to generate good dividends but as an investment in the medium and long term.

AntoCokbun

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Why do you look so happy now? It's true that the current market conditions have created a lot of losses for investors, especially those who started at the peak price of bitcoin, but even so, I am sure that they still believe that bitcoin still has a good future.

ogini

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I think more adoption and new investors if bitcoin raise in value,and I can not see the market dropping it only growing in a steady state maybe you should check the market to confirm Bitcoin growth of recent.

sirohige

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I think they are bankrupt because they are very easy to panic and they have weak hands which means that they cannot hold their assets and maybe he is trading with money that is not managed properly so there are traders who go bankrupt like that.

Harith65

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no no no.. bitcoin is rising again it is readying to take it's bull run again. price of the bitcoin was higher in November of 2017. when we consider the price changing graph of bitcoin before that November we can clearly identify that it is totally matching with present graph. as well as in predictions of crypto experts also mentions that bull run will come in near future. because of these reason people are weighting for new moon as past.

noormcs5

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Quote from: Indamuck on May 04, 2019, 10:29:51 AM

IF you already rich whats the point of taking on all the additional risk that crypto provides. If I was a billionaire I would keep my money in solid investments like property and companies. Going for really high risk investments is more for poor people since they don't have much to lose.

Crypto does not provide any risk while property and companies does. We are near the next economic crisis and all these things like Dollar, property etc will be devalued. Only those who have cryto and bitcoin with them will be saved because all the money will be flow towards crypto. I will recommenced rich people to keep some portion of thier assets in bitcoins for the future.

dominos

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Quote from: Indamuck on May 04, 2019, 10:29:51 AM

IF you already rich whats the point of taking on all the additional risk that crypto provides. If I was a billionaire I would keep my money in solid investments like property and companies. Going for really high risk investments is more for poor people since they don't have much to lose.

Yeah, but probably OP didn't understand how money from/of rich people works that's why he is making a non-sense statement and starting discussion out of nowhere.

Falgorn

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Strange, your topic was written on May 1, meanwhile, the whole of April, bitcoin grew quite well in price, having risen by about one and a half thousand dollars. Moreover, now there is a lot of information that large investors are going to invest in cryptocurrency. We also see that the capitalization of Bitcoin and other cryptocurrency is increasing. So your conclusion is not entirely true.

Woodie

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Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

AFAIK this theory only applies to holdlers who are waiting for the price to grow their money while it's seated in the bank!

On the contrary Traders out there can make money and become rich from either bitcoins upward or downward price movement.

Indamuck

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IF you already rich whats the point of taking on all the additional risk that crypto provides. If I was a billionaire I would keep my money in solid investments like property and companies. Going for really high risk investments is more for poor people since they don't have much to lose.

Bezobraznike

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Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

You sound like all of those people from national TV news who always make fast conclusions after every price's move.
Bitcoin didn't drop. It's just the correction of the price after constant growth during of last few days.
If you call yourself as a bitcoiner you should learn such stuff. But that fact that you are a newbie excuses you.

Gaff

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Quote from: Vishnu.Reang on May 04, 2019, 06:37:13 AM

Bitcoin made a lot many millionaires in 2013, when the prices went up by 120x, from $10 per coin to around $1,200 per coin. The same was repeated on a smaller scale in 2017, when the prices went up from $900 per coin to $20,000 per coin. If you compare the two bull runs, it can be seen that the percentage rise is getting lower. So I expect the next bull run to be more mild when compared to the previous ones.

Indeed, we might not see bull run just like before but still I am preserving that trust towards Bitcoin as we all headed for the great journey. The price might stay unpredictable as it develop a much reliable momentum prior getting larger scope of demand in the next months to go. Don't lose hope, and instead of selling you old asset just hold and wait until what tommorow brings.

StarofBTC

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Quote from: FlightyPouch on May 03, 2019, 05:41:10 AM

Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

I don't know if this is a post of sarcasm but all I know is that these people that is rich is not that stupid to stop and only rely on Bitcoin and other crypto currencies. It is obvious that they also have a lot of other investments and that is not only Bitcoin. If you will be asking me, they may suffer a loss this time but I know they are taking this opportunity to buy again since the price now is getting higher and higher.

Probably he thinks people who are investing in bitcoin are newbies, everyone has been in the system, they have learnt a lot from the past and would not just jump into investment without getting a clear signal, they all know that bitcoin price will always go up and down, but the confidence in Bitcoin is higher than any other investment, because bitcoin has never remain stagnant for too long.

I was in a bank today and I over head the banker’s conversation with a customer, asking if he has opened a particular product of the bank, the man flared up and said he is even planning to close down his account because the share he bought with them since 1986 has yet grown or him being able to even have access to it, that I almost 30 years man, has bitcoin ever delayed even more than 5 years in rewarding its holder?

Osarman

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Quote from: dat.ho12492 on May 03, 2019, 10:42:57 AM

Quote from: pinggoki on May 03, 2019, 10:17:02 AM

Quote from: PedroSuketteki on May 01, 2019, 02:06:49 PM

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha haahaa

I think there are still some people who become wealthy even though bitcoin have been in this situation because Bitcoin is not the only way where they get their money but in various ways such as Forex trading and investment. Besides, bitcoin is not falling right now as a matter of fact it is now rising up.

Of course, agreeing that the number of people who will become rich is not as high as when bitcoin goes up, but the new wealthy still appears, the rate may not be too high because when bitcoin comes down, people are unlikely to achieve the most optimal profit. However, as you say, some people do not rely on bitcoin's value, they rely on altcoin, they use altcoin as a tool, and trading becomes a path to wealth when bitcoin comes down

I don't really agree that the number of peoples who have turned rich is not high in the bull markets. There are a lot of peoples who are waiting for bitcoins or any other altcoin to reach the dip so that they can fastly fill their profits and sell at the peak. It always isn't that easy task but the ones who are able to do so are the one's who have already turned billionaires.

The margins to become rich are always much higher in cryptocurrencies rather than any other investment field as even there is the absence of taxation in the decentralized markets so we don't need to pay anything from our earnings to the government. Altcoins have also proven to be a major way to have profits by trading with them for short as well as long term.

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