BTC back at 20K. Imagine who sold at 17.7K. - page 4.

smartaction

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Quote from: adaseb on June 19, 2022, 09:47:13 PM

It’s too early to tell. Selling at $17.7K was good if it keeps going down again into the $15K or so.

Most likely since tomorrow is a holiday we will get sideways actual. Don’t think the low will break. However if the stock market keeps crashing again then it will take Bitcoin along for the ride. Right now there is very little liquidity everywhere and everything can very quickly move up and down.

It is true the price of bitcoin dropping again. in this time it seems bitcoin price will go bellow $15k. So it is not wrong for seller who sold btc for $17.5k. They will again bought btc when it will go bellow $15k. then it will a great opportunity for there

m2017

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Quote from: Marvell1 on June 22, 2022, 10:39:38 AM

Quote from: Fundamentals Of on June 20, 2022, 03:47:10 AM

Some people are simply born weak. I'm confused why some people are in panic when Bitcoin fell to $20,000 as if it's their first time experiencing a bear season. But even to those who are first timers in the market, haven't they seen the overall Bitcoin chart? I'm really confused. Haven't they seen the price history of Bitcoin? Even to first timers, they should have heard for once that the price of Bitcoin has always been following bullish and bearish cycles.

Sometimes I can't sympathize with weak people. This is rude but sometimes I can only say in silence to those people who sold at $18,000 and regretted when the price quickly went back to $20,000, "good for you!"

Most people enter the market during a bull market, whereas very few do so during a market decline.

This is not at all surprising. People are attracted by the euphoria of growth and it seems to them that this will go on forever, therefore, at such moments, the majority invests in bitcoin. But when bitcoin fall, they will be repelled by fear and panic and don't buy it. Many people forget about the rule to act against the market, and beginners don't know this at all.

Quote from: Marvell1 on June 22, 2022, 10:39:38 AM

A drop of such magnitude will be a shock for them and panic sales are inevitable.

Which is exactly what you can see right now. Actually, every cycle.

Quote from: Marvell1 on June 22, 2022, 10:39:38 AM

We don't have to sympathize with them, I think it's best to let them experience it for themselves and they will be more mature in the upcoming bear seasons. No advice or suggestion is as effective as experiencing it for yourself.

In fact, we can't influence them in any way. No words and advice can break through to the mind through the thickness of fear and horror from what is happening. Only their own experience will teach them or never teach them. Some beginners may become completely disillusioned with bitcoin and leave the industry for good.

Marvell1

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Quote from: Fundamentals Of on June 20, 2022, 03:47:10 AM

Some people are simply born weak. I'm confused why some people are in panic when Bitcoin fell to $20,000 as if it's their first time experiencing a bear season. But even to those who are first timers in the market, haven't they seen the overall Bitcoin chart? I'm really confused. Haven't they seen the price history of Bitcoin? Even to first timers, they should have heard for once that the price of Bitcoin has always been following bullish and bearish cycles.

Sometimes I can't sympathize with weak people. This is rude but sometimes I can only say in silence to those people who sold at $18,000 and regretted when the price quickly went back to $20,000, "good for you!"

Most people enter the market during a bull market, whereas very few do so during a market decline. A drop of such magnitude will be a shock for them and panic sales are inevitable. We don't have to sympathize with them, I think it's best to let them experience it for themselves and they will be more mature in the upcoming bear seasons. No advice or suggestion is as effective as experiencing it for yourself.

Silberman

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Quote from: virtualdn on June 19, 2022, 04:34:49 PM

Some people never learn. This is not the end of the world. BTC has the capacity to grow like 50% in 1 week so people should learn that every drama is temporarily in the crypto world. Poor naysayers. Poor Peter Schiff. Such unhappy people. All the gold still doesn't make them happy. Cheers to you all happy Bitcoiners Cool

What happens is that they are different people than the ones that went through something similar during the previous crypto winter, they come to the market thinking about making some fast profits, then when they fail to realize their goals they get nervous, then a crash actually happens and they sell their coins for a bad price and then blame everyone for their losses except themselves, eventually they get disappointed with the market and leave to never return, but they soon get replaced by yet more newbies and the cycle starts all over again.

LogitechMouse

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Quote from: Abiky on June 19, 2022, 08:20:32 PM

Quote from: virtualdn on June 19, 2022, 04:34:49 PM

Some people never learn. This is not the end of the world. BTC has the capacity to grow like 50% in 1 week so people should learn that every drama is temporarily in the crypto world. Poor naysayers. Poor Peter Schiff. Such unhappy people. All the gold still doesn't make them happy. Cheers to you all happy Bitcoiners Cool

It's stupid to sell BTC at a loss.
~

It's stupidity but in reality, it's happening.
I don't know if it's only me but people who are panicking are the ones who are making awful decisions like selling at a loss. Those who are selling at below $20,000 are the ones who are a long time holders of Bitcoin who are still in profit even though they sell it at that price or the newbie investors who are selling at a loss because they are panicking.

Quote from: Abiky on June 19, 2022, 08:20:32 PM

Ultimately, we'll be the ones laughing at the end as BTC soars towards new All-time-highs. Just buy the dip and don't sell no matter what. Wink

Patience is the key.
If you have patience, you will gain profit and it's proven already not only in the crypto market but in the stock market as well. Those who are holding for years will make profit most of the time. As for me, I'm just chilling here, accumulating BTC as much as I can and waiting for the bear market to end.

xSkylarx

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Some countries face economic crisis now along with the pandemic so there is someone to sell their holdings to survive during these hard times. The market sentiment also is not good that affects the people to liquidate their assets. There are miners also that will just sell their bitcoin now because the price keeps falling and their profit is also being decreased. They will need funds to sustain their mining rigs to survive in this bear market if it continues for some months.

Poker Player

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Quote from: Tellek Garing on June 20, 2022, 02:25:34 PM

The reality is, those that sold at $17,700 are those that hear testimony from friends in may last year when bitcoin was above $60000 of how much their are making and because of these testimonies buy at $60000 or $65000 then sold at the current price for fear of losing all! Patience is the key and that is what I keep telling people around me. If you can’t hold, then crypto is not for you because you will keep losing money.

Yes but if you bought at $60000 or $65000 you have to have a lot of patience and a very long term vision. The problem with people who buy at $65k and sell at $17k is that they either invested money they didn't owe and now due to lack of liquidity they are forced to sell at a loss, or they invested without knowing very well what they were doing, without the long term vision, and now they have sold out of panic.

The bad thing is that people don't learn. These behaviors (buy high sell low) are also typical of the stock market, and the next time there is a downturn, they will happen again.

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Quote

I'm happy because today the bitcoin price returned to the $20k level, experiencing the worst trend since the last 2 years, I hope there won't be another dip like the last 8 days which made many holders panic and sell at low prices, and the better news is that I bought at $18k and if I sell now of course I will profit, but I think the opportunity for rising is bigger so I will buy again.

I think, the price of bitcoin will definitely increase higher before the end of this month of June, because the price has moved from $18,000 to $20,000 few days ago showed that people will soon experience bullish market. I believe this is the best time to be happy in the community because the price of bitcoin has dropped down to a level where poor and rich people can buy bitcoin and hold for the price to increase higher before they can sell to make a passive income. It will be favourable to any investors that will hold in this season of bearish to over.

Tellek Garing

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The reality is, those that sold at $17,700 are those that hear testimony from friends in may last year when bitcoin was above $60000 of how much their are making and because of these testimonies buy at $60000 or $65000 then sold at the current price for fear of losing all! Patience is the key and that is what I keep telling people around me. If you can’t hold, then crypto is not for you because you will keep losing money.

Alisha-k

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People will always panic. The worst trading plan is to join the trend when it has moved without forming any retracement. Those who sold at $17.7k can still hold on a little more while the set their sell limit at $17.0k because there is no indication from both fundamental and technical analysis that the $20K price mark will push price up.

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Quote from: EdenHazard on June 19, 2022, 06:35:16 PM

Quote from: Sterbens on June 19, 2022, 05:29:35 PM

Quote from: virtualdn on June 19, 2022, 04:34:49 PM

Some people never learn. This is not the end of the world. BTC has the capacity to grow like 50% in 1 week so people should learn that every drama is temporarily in the crypto world. Poor naysayers. Poor Peter Schiff. Such unhappy people. All the gold still doesn't make them happy. Cheers to you all happy Bitcoiners Cool

Hopefully, it's a good price bounce and stays above $20K. Those who have already picked it up at $17K may be quite happy and may not find another $17K in the future. On the other hand, the bad news that has been affecting market prices for a while is expected to pass. The panicked sellers actually felt a thousand regrets.

We can still go down though .

Just don't forget that the bearish season might continue and the current flash bouncing are temporary only , wait and see if the price break 21k and stay there for a coiple weeks then i believe the bottom were indeed at 17.7k .
Im cutting losses at 19k though but get backup now as i got some more below 18k.

Maybe, any moment can happen but for now Bitcoin is still hovering around $20,600. I did see that following up the crisis, the recession and also the issue of freezing accounts on the Celsius exchange had a significant impact on prices. Despite the controversy, it is clear that Celsius has abused their policy which is very fatal. Until finally examined to account for the case that they are currently facing. Securities are not going to stand still, and the market is going to be impacted again.

Accardo

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Fear facilitates impatience, and expenses differs on different individuals. Those that sold at 17.7k may have different reasons attached to why they sold their bitcoin. The regret must come very late, but, they'll need to learn not to panic, if no need arises. The people that bought at 17.7k made profits while the people that held all the way from $30k are still facing profit downtrend. Determining the best moment to take the right action is rare in this market. As we all know it's a risky business and people must stay careful.

aoluain

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Quote from: franky1 on June 19, 2022, 05:14:58 PM

i do not believe that there were alot of idiots selling at a loss down to $17k.

i believe it was the old whales that were giving up but still selling at a profit (coins they held from days where they acquired them way below $17k from the good old day)

to which. now they are out and no longer holding coins they acquired and valued as profitable at below $17k
the new holders that bought at $17k+ are setting their 'limit' to (being smart) never sell below $17k+ break even

and thus less people with coins acquired below $17k. and more people with coins acquired above $17k. thus supporting $17k as a stronger "bottom".

disclaimer:
that said i acquired a hoard in 2012 and im still in profit all the way down to extreme low prices.. but i have no intention to sell at low prices... im not saying there is no one else left with coins that can still profit below $17k.. but there are far far less of us left that could.. and now far far more people with a $17k+ base break even limit they wont sell below..

anyway
those buying at $17k. can sell at $20k and make 10% profit in one day.
thats alot better then bank account savings interest that only offers 0.05% a year

Thats an interesting theory, it kind of makes sense and probably contributes to how
Bitcoins price 'keeps rising' over time. The sell prices are constantly being pushed up
as more people buy at higher prices during the dips than before, "higher highs and higher lows"!

Still though, there are definitely people who sold out of panic and fear. I cant imagine
what they think when they see the markets today.

And of course just because the markets are up today, by Friday they could be back down.

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Quote from: onecall123 on June 20, 2022, 05:11:44 AM

In other words, BTC below 20k wasn't a curse, but a gift. As a result of some people not learning, there are always some who take profits. BTC is back at 20k, but it looks like only a small double bottom under the trend. However, I would not go short at this time. I thought I'd wait for a bounce, and now it's here. An excellent buying opportunity. What makes sense to me is to wait for the RSI to cool down.

It's a curse for new people who doesn't know what to do or even trust bitcoin that it will bounce back after the disaster it encounter and its a gift for experience traders who experience the heavy bear market condition then figure out what might possible happen next to bitcoin after the dump happen. This is also an indicator to those people tells that bitcoin will go to zero because this sealed up their negativity towards what they see on bitcoin at the moment.

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Quote from: Husires on June 20, 2022, 06:01:59 AM

Fear, greed, hope, wishful thinking are the emotions that create money and are the same emotions that lead to losing money.
If these emotions and feelings control you, you will most likely lose in the medium and long term. the best solution is to build a trading strategy that takes advantage of market fluctuations without achieving losses at least.

I don't know, but I don't see a logical reason for someone to sell in the previous days except:

Shorting: trying to sell now assuming that the price will continue to go down and buy later.
Needs that money badly at the present time or for an emergency circumstance.

If I were a whale I'd go short on margin.
Put in a low buy order.
Then sell coins to bring the price down to the buy order.
Close the short to earn coins.
Watch the liquidations fill the buy order and buy back to higher than the coins you started with.

Have no idea if this would work...

Husires

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Fear, greed, hope, wishful thinking are the emotions that create money and are the same emotions that lead to losing money.
If these emotions and feelings control you, you will most likely lose in the medium and long term. the best solution is to build a trading strategy that takes advantage of market fluctuations without achieving losses at least.

I don't know, but I don't see a logical reason for someone to sell in the previous days except:

Shorting: trying to sell now assuming that the price will continue to go down and buy later.
Needs that money badly at the present time or for an emergency circumstance.

onecall123

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In other words, BTC below 20k wasn't a curse, but a gift. As a result of some people not learning, there are always some who take profits. BTC is back at 20k, but it looks like only a small double bottom under the trend. However, I would not go short at this time. I thought I'd wait for a bounce, and now it's here. An excellent buying opportunity. What makes sense to me is to wait for the RSI to cool down.

bluebit25

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Well, not a few but a lot, but I think the majority of people are losing because of this reason. The learning doesn't really take place, they start to become pitiful with what they create. Sometimes I feel sorry for them too. But look at what's going on in today's markets; it's nothing more than a play on a much larger monetary scale. And life can always be like that. Its balance is the way it works.

Wilhelm

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Quote from: Fundamentals Of on June 20, 2022, 03:47:10 AM

Some people are simply born weak. I'm confused why some people are in panic when Bitcoin fell to $20,000 as if it's their first time experiencing a bear season. But even to those who are first timers in the market, haven't they seen the overall Bitcoin chart? I'm really confused. Haven't they seen the price history of Bitcoin? Even to first timers, they should have heard for once that the price of Bitcoin has always been following bullish and bearish cycles.

Sometimes I can't sympathize with weak people. This is rude but sometimes I can only say in silence to those people who sold at $18,000 and regretted when the price quickly went back to $20,000, "good for you!"

Yup I know people that refuse to invest $100 in Bitcoin but do switch from internet provider for a $5 difference even if it costs them hours by swapping out hardware etc.

Bitcoin has taught me that working is a shitty way of making money.

Fundamentals Of

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Some people are simply born weak. I'm confused why some people are in panic when Bitcoin fell to $20,000 as if it's their first time experiencing a bear season. But even to those who are first timers in the market, haven't they seen the overall Bitcoin chart? I'm really confused. Haven't they seen the price history of Bitcoin? Even to first timers, they should have heard for once that the price of Bitcoin has always been following bullish and bearish cycles.

Sometimes I can't sympathize with weak people. This is rude but sometimes I can only say in silence to those people who sold at $18,000 and regretted when the price quickly went back to $20,000, "good for you!"

Topic: BTC back at 20K. Imagine who sold at 17.7K. - page 4. (Read 862 times)