Topic: Bitcoin Price Dropping - Are You Scared? (Read 805 times)

Should have made this a poll, a scream gauge is how you measure the rollercoaster ride for success.    Also gauging sentiment is quite powerful when speculating for identifying peak sell or buy conditions, in combination with other considerations its good to have a long line of threads speculating the end of everything or a page of BTC going to a million near tops.

Hash rate at all time highs, price of a bitcoin getting close to production cost, halving in 6 months, world economy going to shit and bitcoin's supply not possible to be manipulated by CB printing, development of the protocol and 2nd layer solutions in full swing, having personally been in the bitcoin market for me than 6 years.

Yeah man, I'm shaking in my fucking boots. Everyone is a whining little prick when the price goes down. The lack of ability to look even 1 year into the future is fucking bizarre.

Scared is for those people who arent that aware enough on Bitcoins existence specially newbies and amateur on this very volatile market.
When bitcoin drops its price they do start to freak out telling that price would go down to zero or going those unrealistic low levels without
even realizing that we've been experiencing this volatility since day 1.Well not all gets in on the same time but if you do get used to it then
these kind of price drops are just like a normal day.

What will happen to my future if I will be scared of with the latest price outbreak? would that help me recover my asset back to higher value again? Anyway lets not be too literal for this matter, because as we're getting mature with our skills and knowledge on crypto; all certain possibilities is going to happen unexpectedly. Like the sudden crash of btc price which goes down to $7400 quickly after few hours, which during that time btc price range at $8,100 to $8300 with slow changes.

This wasn't a new chaos, and it was just same old tale that also been occurring from the past years. All we need to do is stay calm and never rant for just an speculation might tend to influence your decisions.

This isn't the first time bitcoin will down this year in may and June the price dumped to $7400 before the price rallied back presently the price is back at that support zones again thus another opportunity for buying I am very optimistic that any pump in the price might hit $10K+, personally I am not scared despite hearing some rumour about Chinese government clampdown on mining bitcoin.

It's like we've been through a lot now to get panic for $7.5k, somehow I'm used to it to the point I don't look its price unless I'll plan to do trading, which I don't do much this past few days. I'll be scared only if price didn't increase even a little next year few months or week before halving.

What do you think now figmentofmyass? You're still thinking the price of bitcoin is low since one month because of a feedback loop that occurred last month? 

Exactly, the volatility is the core nature of the coin and if you are in the market you have to accept it. Just like this present time, the market had gone bearish many times previously, so I ain't really sacred for the falling price. Moreover, I believe this fall is a temporary phenomenon as the prices will soon incline optimistically...

Are you saying we should be greedy and buy more Bitcoin at this point?

No I already seen it fall from $20K down to 3K so what would be next?
I think I would just panic and be scared if it would go back to $1K or below than that.
But as of now I don't think that it would be a reason for me to panic or be scared.

It is normal to feel that Fear if you are a new ones.
But old ones in the crypto industry like me? This is something normal that happens in the bitcoin market.
Actually this is just a little of way something bigger that had happened before.

I guess experience really teaches a lesson to people. By spending time looking at the market everyday I may been numb with this kind of dump movements.

For those that have some extra money then it's a different case. So, yest it makes me feel anxious to see bitcoin dropping again and I wish that it just continues to rally and passed to $20k so it can spread it's good performance to altcoins as well. Well, to be honest I'm just waiting for an altseason to come because that is where all my bet is but it needs btc to do good also so I need to rely on it.

Until the New Year, another three months. During this time, bitcoin can drop in price to six thousand dollars and then rise to twenty thousand. Of course, it may not rise. Then he will do it next year. Bitcoin constantly presents us with unexpected surprises. Surprises await us this time too.

We already seen the market before it drops and occur an increasing price. This is not new to those who follow the market price from the start up to present. Those who really believes on bitcoin not scared because we already observe the sudden jump of price. Somehow, Bakkt launched affect this btc drops and also their are some reason why it happens. Nice idea to accumulate some btc at this time since I also seeing that it will increase again.

I am not saying there is absolutely no relation between price going down and bakkt not having volume, there must be a bit, surely there are some people who got hyped about bakkt and bought because they thought after the 23th there would be a huge price increase and when that didn't happened they just sold. However looking at the transactions you can't deny the fact that there was a ton of whales who sold thousands of bitcoins and then there was a lot of panic sellers following that as well.

So, yeah sure bakkt might had some impact but there were a ton of other stuff that caused it as well, which means bakkt was not the sole reason for it, it was just a helper of this downturn. It is still great because it means we can buy bitcoin for cheap now and wait until volume goes back up.

Lots of people make that assumption. It seems too obvious to me. When patterns become too obvious, they either start getting front-run by the market......or they fail. I think that's exactly what's happening now. The proverbial "fork in the road."

After the 2013 top, it took almost 3 years to gain this much ground on the ATH. This time, only 1.5 years. So the cycle appears to be accelerating.

Or in the alternative, we are at an inflection point before a long term secular bear market. It's a pretty binary outcome for me.

Well, natural market movement is considered to be around 5-10% plus/minus but in last 3 days drop is around 20% which isn't natural to be honest. The most prominent reason links to the expiry of high number of options on Bakkt. However, I agree with you later words, price will recover again soon. This drop is just temporary and we may see $15K again by Christmas.

If aint part of the plan of whoever manipulates it behind everything then it coud just be part of the market.
We will never know who is trading behind the curtains, it could be you or it could even be me with a group of people that could somehow shaken the market of crypto currencies with large balances.

Fear will always be there. But the question is are we going to let fear take over us too. I mean, specially us who had been in the crypto industry for a long time.

I'm not scared, I'm sure this is part of the crypto-currrency cycle. Even if I don't have investment in bitcoin now, I'm sure the price will hit high again soon. If I have money now I would buy some bitcoin for sure.

Not worried.

I've always insisted that the cycles would recur around 4 years at a time following the halving. I still carry that sentiment with me to this day.

Markets were irrational to begin the year in my opinion, overbuying and making quite unsustainable growth in the short run. If we take into account the fact that the peak of bitcoin usually comes around at the year of halving or the year after (following 2013, 2017), then we aren't in that timeframe just yet.

Just sit back and relax. The fundamentals have not changed a bit.

yes, for those who are in the crypto ecosystem must be familiar. for someone who is really new, it must be considered very negative when a BTC price value is dumping.

Everytime it drops a bit down I hear my cash screaming "we want more BTC".
Bitcoin has been in the spotlight this week largely due to two unfavorable developments. The first one is the underwhelming Bakkt launch that failed to impress the cryptocurrency community. Second, the largest cryptocurrency finally broke down from a descending triangle after months of consolidation, prompting calls for a bearish dump to $4,000 or even lower but i am still positive about Bitcoin. It still can be a speculative investment people are interested about. Gold has failed so many but it still has value. Bitcoin certainly has utility. This is not investment advice but best time for buying.
By the way, Did you know BTC dropped 10% on the last Friday of every month for the last 5 months? If No, well you do now.

I will just state my experience from trading main markets which is the news is written after the market moves and they try to describe why its done that.    There is a tiny cutting edge of sellers who will have a direct feed on reuters brief breaking news releases and sure some might act in that way but most of us are not selling for this reason as we cannot justify sitting by a ticker machine watching even an expected decision.  
  Its always going to be a combination of factors, this current sell off was predictable as early as July when we peaked and lost the previous months trend up.   The trend where we gained was so aggressive we quickly went from 3k to 13k and it could not continue in any sensible way as markets never move in one direction perfectly simply unless they are broken, it would add up to free money.   We'll have an adjustment up again some time in future and this recently has been some adjustment down and its a good thing because BTC is more real when it does both, long term its positive Iam sure of it.     Thankfully BTC is not broken and its adjusted, eventually after some months we have a final wave of doubt and the worst prices are observed.   I would compare this to the tail end of a bull whip, the most rapid movement comes at the end but the wave first started a while back.  
  News doesn't really describe market moves, some stories grow and there is an iterative effect perhaps but there is no one story imo.

This market is pretty thin. When tens of thousands of BTC get dumped on an exchange, there isn't necessarily corresponding demand to send prices right back up. In a bubble there is, but the lack of bullish reaction to this selloff suggests we definitely aren't in a bubble.

In other words there is no demand left at higher prices like the $9,000s and $10,000s. That's the sad truth. We need to find a new equilibrium in a lower price range where sellers don't outnumber buyers. I'm hoping we find that equilibrium in the low $7,000s but we have to wait and see.

Ok but now, today, how do you explain that people are still selling under $10k while Bitcoin cost above that since several months?
How do you explain that so many people are selling at those prices? For me, it's because they are disappointed by Bakkt, they observe that institutional money is not coming.

That is what I predicted at start of the year. Considering Bitcoins price in last 8 years. What has happening from March untill June was an anomaly. Price was groving to fast. Well price was groving normaly, but there was no corecction. That was an anomaly.  

the origin is sellers selling. you think the only reason people sell is because they read a news story? if that were true, there would be no such thing as "stop loss orders"---people would only sell if they heard bad news!

in reality there's a multitude of reasons why people sell. capital preservation, taking profit, selling out of necessity, etc......the biggest reason is because they expect lower prices. the entire market was piled on the long side, waiting to sell if prices made new lows. so price made new lows and everyone sold at once, largely because of automated stop losses and liquidations.

maybe news "triggered" a few people to sell. we could never know either way. but the reason the crash occurred was because the market was extremely bullish and long and lower prices forced them to sell.


what proof do you have?

i contend the market would have crashed no matter how bakkt performed. once it launched, the hype was dead and everyone was already long = lots of supply and no demand. those are the perfect conditions for a crash, especially with everyone's stop loss orders waiting at $9k-$9300.

That's the spirit mate, this current situation will changed up after this fall, look at the positive side since the beginning of the year. You need to fine things that will keep you to stay positive, most the time being scared will result losing your money. Make a good research in order to sort things out and not to fail with any decision making that you'll going to take.

Many get scared just because of rumors. The crypto market is highly volatile and makes big moves according to demand and supply, slabs, buy wall and a few other factors.

People who just get involved in getting returns are in loss because of the lack of information and updates of the market. Also, many other trust issue and economic affairs also lead to a price drop of BTC. As BTC is decentralized peer to peer digital asset can be divided into smaller identical unit parts due to this specification trading is done with higher volume against a lower price.

There is nothing to worry about we had a moving average crossover on the daily chart which has led to this bearish move for the time being. But I think there is nothing to be scared of. Moreover the Bakkt trading hasn't done anything great for bitcoin the volume has been quite low. And it hasn't justified the hype which it was creating earlier. Price was dumped so many times when SEC delayed its approval decision so many times. I think even this dump was due to the ETF delay.

I'm not scared, when you are here for some time, you'll get used to this kind of fluctuation in price, there's nothing to fear
I don't believe we are in market of FUD and pessimism, some time ago we are at 3k USD range, and look now, we are good, just wait and be patient

What makes crazy and even worrying so much if we could see market trends straight going down but it is not, and therefore we don't need to be worried nor to think about crypto is drying. There is no reason why we have to be in the situation that the market will collapse. The massive crypto adoptions are enough to hold the market from drowning. We can't decline this from happening cause in the first place, we can't ever saw it become stable but rather to see them always in up and down scheme.

2020 isnt especially long term but I agree with the general statement, buy when people are scared and be wary when everyone cant shut up about the price must for certain goto 100,000.
   The only way BTC is going higher is by surprise and after many gave up and believed it was a lost cause.   It cant go to a very high price all at once, the only real way it will happen is by wide distribution and hopefully usage which means we keep going up and down continually until people find it useful to keep exchanging the coins regularly not fearing lower or resisting spending by thinking it will always be worth more.   The churn in pricing is very much something required for good health on the blockchain, so in that respect no I'm dont fear or mind a lower price at least longer term.

Bitcoin price dropping is correction from previous cme future exit from future contracts now bakkt launch cleared those gap from the industry

Scared and worried is never good thing
Press,You Tube vids want us to sell low
i have learned from Peter Brandt importance of 18 MA and 114 Ma.It works you can drawn and look
Dump came after bearish cross on those two MA
Currently weekly 114 MA is on 7350$ level
In a case of any weekly close below 7350 K i will be very worry
Maybe the best is some longer accumulation on current level but whatever will happen bitcoin will rebound

In the same way that BCash, BGold, BSV and any other bitcoin fork is.

This news about the Google quantum computer is primitivist FUD. If they break the code, they will hard fork. As simple as that.

Bitcoin code has been broken several times. Each time someone breaks it, a new fork comes up.

Failure by the majority to understand how a decentralized network operates is the reason why the price is so low. Google would need to hack thousands of computers and break each wallet inside them to steal their coins. A impossible task, even for a quantum computer.

I'm not afraid of that because bitcoin has fallen in price not just once but very often and that's normal, this is a bad moment for those who buy when prices are high. on the contrary, this is a good moment for those who will buy.

And what triggered this feedback loop according to you? This is not a spontaneous phenomenon, it doesn't come from nowhere, there is an origin, you can't deny that.

In one word : yes

I'm not scared of bitcoin price drops, but more like I was surprised because I though Bitcoin will start pumping from this early September but in fact it wasn't.

What if at the end of 2020 Bitcoin price is lower than today? Still you want to sell them off? No one knows what will happen tomorrow, even though there are so many analysis, price predictors, still they don't really know the exact price. That's why you should care even a bit, to understand this so you won't miss any moments.

Every time the price drops, I see it as an opportunity to purchase more for short-term investments. I withdrew them as soon as the cost of the initial price is higher than the selling price by at least 10-20%. With the volatility of bitcoin, this may depend upon external and internal factors but I usually cash them out 2-3 weeks from the date I purchased them.

Instances like these, people should view it in a positive light rather than taking it as a loss.


What do you mean by 'healthy'? I find that the word volatile is suitable as the price cannot be predicted accurately. You would need to rely on data, news, and research before planning your next goal in this bearish market.

Me too, as long as Bitcoin is alive I will keep it. I am not a daily trader so I don't care too much about the price fluctuation of Bitcoin, my goal is to try to earn a lot of bitcoins and keep it until the end of 2020.

it's always adorable when people try to explain price moves with news. the "lightning network hack" (if you could call it that) happened a month ago and the google news came out 3 days before the crash. obviously no one cared about either story.

you really think the market crashed because bakkt didn't have high enough volume?

you realize that rallies and crashes occur with or without news stories, right? the most important factors are price and commitment of traders. traders were heavily long heading into the dump. so when price dropped a little bit, it triggered stops, causing new lows and triggering more stops and margin liquidations, inducing panic selling as price quickly dropped 15% in a matter of minutes. that's what price does---it creates feedback loops. lower prices beget lower prices as traders and investors are squeezed into cutting their losses. news pales in comparison to these market pressures.

So you didn't hear about the Lightning Network hack and you didn't hear about the FUD of the Google exploit? 
Have you heard about the low volume on Bakkt at least? 

there is substance to the idea that QC will eventually crack bitcoin's signature algorithm. on what timeline exactly is hard to say, but some cryptographers believe it could happen by 2027 at the earliest.

the recent google story re "quantum supremacy" is non-news.

It matters to me if my Bitcon can be cracked by a powerful computer.

It doesn't matter to me if uninformed retail investors sell their Bitcoin. If there is no substance to it, it will become yesterday's story.

If there is substance to it however.... then we need to be worried.

they created a very specific problem that was intentionally difficult to solve with traditional computers, then solved it with a quantum computer. sort of like chopping off your opponent's leg before a footrace.

this is very far removed from solving real problems like those that could break modern encryption.

i'm also curious about this "lightning network hack". all i can find is this from a month ago: https://www.theblockcrypto.com/linked/38068/bitcoins-lightning-network-found-to-have-security-vulnerabilities


i didn't see much FUD about it. most of the articles state pretty clearly that it's not a risk to bitcoin.
https://cointelegraph.com/news/googles-quantum-computer-breakthrough-not-a-risk-to-bitcoin-says-dev
https://www.ccn.com/google-quantum-bitcoin/
https://finance.yahoo.com/news/google-quantum-computer-means-bitcoin-165320736.html

It doesn't matter how realistic is the quantum computing exploit, it matters how people think it is...   Most of people investing in Bitcoin are not computer scientists neither even tech savvy. So they don't care how feasible it is

How realistic is the Google quantum computing exploit though?



I check it everyday, and it seems to be very reflective of the sentiment of people.

It only updates once a day though, and it is based on movements in the price, so you can't really use it as an indicator for trading.

On any markets like forex stocks and indices we do really see these falls it do only differentiated with the level of volatility or percentage but overall its all the same.
For a healthy market we do see this movements yet we do know that theres only 2 people on this market which is buyers and sellers.

Being scared is inevitable since we know that we are risking our money here to trade up but if you do go for long term then these price movements wont really be a bothersome for you.

The Bitcoin price fall is healthy in a sense because we cannot see bitcoin to be always rising. We have seen last few months that bitcoin prices were stable above 10,000K and i think it was necessary for bitcoin to dump a bit and retest its previous support levels before making another big momentum.

How can you say that Bitcoin correct price for December 2019 should be 10,000 ? I do not see any logical reasoning behind it. I am sure bitcoin will be either 1- 3K above or below 10K on December this year.

And Yes, the bitcoin falling is very scary as after the dump it takes a lot of time in recovering the bitcoin price.

It is as it is planed. Bitcoin price should reach $10000 only at the end of the year but we allready had $10000 Bitcoins in June. That was a suprise. Those 5 montsh of constant price increase. A big surprise I would never predict. What is happening right now is totaly normal. Price can easily go down to $6000 before recovering. But can also stay where it is right now. We are not hihg or low right now. Just perfect.

I heard from my friends will have a hard way to increase, they told me that I should not be scared or worry even if the price got dump like today. Bitcoin will be back soon, and there is nothing to worry. Moreover, I have a big opportunity to buy back Bitcoin at a low price. And if I can get at least 1 bitcoin, I will make a nice profit after the price increases.

Yes, I know that it will take a long time to see the price will break $10k again, but as long as I can use my time always to buy low and sell high, I will not panic like other people. With the current market now, I see many people are selling their bitcoin too early because they are panic to see the price dump deeper. I don't want to be like them, and I will still hold some bitcoin while I can sell the other bitcoin to make a profit.

I am not afraid that the price of bitcoin continues to fall, while we are still using bitcoin, then bitcoin will continue to be valuable. Many people and myself still believe that bitcoin remains a profitable investment.The decline in the price of bitcoin is a common phenomenon that occurs every year. In the near future, BTC prices will again experience price increases. Because interest in buying and selling digital assets is increasing.

And again the nocoiners will not buy it.

Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018! And people start calling the bottom again:

https://i.imgur.com/9qZR4Ta.png

No. But I froze my DCA strategy since the price have stagnated, weeks ago. I said back then I would be buying only on the next level (be up or down). However, the price took a very steep fall, kind of a mini-crash. For this reason, Im going to wait for $6800 to buy more. If it recover, then I will wait for 15k.

I am also not worried if bitcoin is dropping. Bitcoin price is important in the next 5 year maybe, it can be possibly the best price or maybe the best time to sell your bitcoin investment today (not advice as well).
I am not saying that I am right and I am good at predicting but don't be afraid if the bitcoin price right now gets low for a while, in time, you/we can see big improvement for sure.

That is why we need to analyze, and I am glad that you found something, so you sell bitcoin before the huge drop price. And now, I am sure that you can buy bitcoin at a very low price

I don't scare or worry because I have all the money and like above me said, I sell at the right price although it's not a good time for me. But still, I can take the profit first before it's down.

Unfortunately, there are some reasons to be scared : the Lightning Network hack, the failure of Bakkt launch and the Google quantum computing exploit.

Now that I've closed most of my short hedge, yeah, I'm scared.


It's already back at 24. Surprising considering we've only bounced $300-400.

Has anyone run a study of how effective this indicator is? I'm a little skeptical about some of their data sources like Google Trends, Bitcoin Dominance, and the way they analyze Twitter.

My answer is, still really confident with it. I have seen worse than this 3-4 years ago. I mean actually it is different condition. But i am with bitcoin since it is maybe $150 so with this price i am still confident. As long it not dumped very hard until maybe $1000 i wouldn't panic yet.

I'm so glad that before the huge drop price of bitcoin, I manage to sell it out. It's because I see this coming and my technical analysis said so. Worried? Scared? No. Those who think they were late because it crashed down, don't worry. This is crypto market where volatility stands. It is not forever bear.

We've been here before, last year's dip was more worst than we are experiencing today, isn't? But we manage to recover. We made it before, why not today?
We wait, hold and become profitable. That's the three steps we have to do in this situation.

Not very much. I was trading with a little bit of my stack that was leveraged that ended up getting stopped out in the large, red daily candle we had a few days ago, but I've still got a good portion of my Bitcoin holdings still in cold storage and my averaged entry cost is still below our current price. I'm also continually dollar cost averaging every week or so, so these prices are a decent time to be adding to your stash IMO. There's certainly plenty of bearish FUD out there at this time, even a bit in this subsection of this forum, so be aware of what you're reading around here and on the internet.

What's the need of diving back to $6.5k and then to the moon.... Lol

Price right now is getting near to $8000, and we've crossed much lower price this year which was around $3000. By that time every user might have feared bitcoin would go valueless, but what happened in reality made everyone to get back hope and understood the price moving steep down and recovering is common. We experienced good growth from the month of April, from around $3000 to $14000. Now once again the price has crashed, have patience and we'll set back to moon or at least a new ath.

ah that's nothing. we got down to at least 5 back in august. i agree that sentiment is getting there though---lots of people around here are becoming legit fearful. there's also lots of bears cheering on lower prices.


that's one anecdotal indication that we haven't seen the bottom yet. which is also in line with the index only hitting 12 so far......

Or it can go the other way?  Bitcoin price had shamed lots of TA experts and even disappoints both negative and positive speculators.  



Why need to be lucky when one can study  the market and know the entry and exit point.  There is no need to be loyal and hold too much on one thing that we are too unsure.  And if you hate it just leave the scene. It will only pile up stress in your mind.


Probably because they share the same sentiments, while others just follow blindly, later to be found out that they were just "sheeps waiting to be slaughtered".  

---

Definitely I am not scared, it has been like this for many years, I am just curious why someone had not learned about this volatility of Bitcoin.  This is normal, even in regular stocks this kind of thing happen, even to the point of dropping near to zero.  And everything in Bitcoin industry is uncertain until it happen.  So we just need to be well prepared for every situation that will come in our way in this Cryptocurrency Industry.

I'm not worried at all although sometimes there's that odd feeling that I feel but still I remain intact and I know what I'm doing. Don't listen to the FUDs out there, they will do no good to you folks.

Warren Buffett's quote. 

Opening for the institutionseveryone for cheaper btcs? for Bakkt's? Luckily, I've stopped and panic selling years ago.

It's only healthy. Price was stuck at 10k. Let's dive down to $6.5k and then moon...

Why so salty bro? You seem to be implying that bitcoin is dying because the price is going down. Its called volitility and you should know if you were in during the 2017 bullrun. The price retraced from $5k to $3500 early that year. Same as now. $10k to $8k. Rest assured btc is not dying. Bears got slaughtered this year from $3500 to $14k. If they dont win sometime they wont play. Relax

What a heavy word is used, why should anyone be scared?  It's a price correction, nothing unsual that we haven't already seen before and that is not happening all the time.
I'm involved in Bitcoin since 2013 so I guess that there is nothing that could scare me related to Bitcoin.
Probably many expected price to go up and not such scenario with price fall so probably a panic gets them although there is no reason for that.

When others are fearful you know what to do

There were any factors in play here for the bitcoin price to drop so significantly over the past couple of days.
One was bakkt although many are denying it had anything to do with it but you can not say it didnt contribute to it even for a couple of percentage of the 20% dip in the price since a week ago. This was from people going in with the fud and panic selling.
The other was a $1.2 billion dollar sell off done on an exchange just a day before. This was the major part of the steady increase of the dip. This is for certain.
And lastly was the cme contracts expiring within the next 24-48 hours. This can be another major factor in people selling off thus cause the price to fall closer to where people want to start exiting their holdings.

Am I scare or worried ?
Nah man I am over this shit. I have seen times when bitcoin actually went down the drain and many lost hopes from it yet it survived and is standing where it is today.
So I am kinda confident that whatever the reason be for bitcoin going down, it will bounce bank sooner or later.
I am just holding on to my coins while enjoying the journey.

Considering the drop was initiated by a whale dumping BTC to buy it cheaper later on, you should fear only panic selling yourself!

Been here since 2016 and I have seen worst than that so obviously I'm not affected by this price drop.

$19k to $3k? Lol in a span of about a year, I guess we really need to understand that crypto market is full of unexpected retracements and corrections before going on another all time high. So brace yourself, maybe this dump is not over yet and the price could go to $7k levels, just saying.

Man, you're bitter--though I do tend to hate that phrase "buy the dip".  That's only smart advice when there's some momentum behind the price, and in this case there wasn't.  Bitcoin was stagnating around $10k for a while, and it's recent drop isn't exactly a dip.  It's a pretty steep drop.

But am I scared?  No.  I don't own much bitcoin for one thing, and for another I've been into crypto long enough to know that this kind of volatility is to be expected, especially after a sharp jump ($3500 to over $10k in a short period of time).  Sure, I'd been hoping that bitcoin would break to the upside but it didn't, and there's nothing I can do about it.

What I'm more worried about is the whales getting scared and selling, which they're probably already doing.  I'd like to not see bitcoin drop any further....but again, nothing I can do about it.

I haven't heard much FUD on the forum lately, at least not before this most recent drop, certainly nothing that would account for it.  And yeah there's pessimism now, after the fact.

As long as bitcoin is alive I do not fear the price drop. I do believe that bitcoin has a huge potential and bitcoins acceptance is already on the way. Bitcoin mainstreaming may be fully realized 10 years later but as long as people are coming into cryptocurrency then bitcoins value will still go up in the near future. I also believe that the price drop recently is just temporary due to the threat brought by a certain person who deposited a huge amount of bitcoin in a certain exchange, but soon bitcoin will rally up again.

Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

Strangley or not though, I'm not worried. For me this just seems like part of the plan.

I'm not interested in wha the price of Bitcoin is today, this week, this month, or this year. I'm interested in what the price of Bitcoin is going to be in 2, 3, 5, 10 years time.

This could be a great buying opportunity for additional accumulation (not advice).

The majority of sentiment on this forum seems to be positive, but I am seeing some uncertainty.

So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?