Topic: BTC is being too nice. Most people don't deserve the chance to buy it so cheap. (Read 578 times)

I absolutely agree, BTC price is looking very attractive at the moment and I like the optimistic view. I’m bullish on BTC and think in 2023 we’re going to reach all time highs.
I  would love to stack up some satoshis right now and if I had the extra fiat I would definitely consider buying more. Unfortunately, I don’t have a ton of fiat lying around at the moment but I am definitely liking the price. If the timing is right and this is a good year at work, I’ll be stacking up more BTC while they’re cheap.

The free market, specially without regulation makes it even the freest market for sure and not having any idea how that would work is not a shocking thing. First of all not all crypto investors have invested in other stuff before, like me, I didn't really invested into anything else before this, I invested into some dollars because it looked stronger compared to my own nations fiat, but that's about it.

Hence, it is quite understandable for many people to sell in fear when it goes down and not understand the concept of volatility. They love it when we went from under 10k price to over 60k price, but they can't comprehend how we moved from 60k+ to under 20k in the following months, it's the same thing.

Market is unpredictable, if it was as easy as you say, many people wouldn't have bought at $60k and then got liquidated for $18k. Markets are not governed by a set of rules, we buy only when we feel comfortable and satisfied with the price. In case you had purchased bitcoin beforehand, you should hold on to it, but if you have not yet acquired bitcoin, don't hesitate, act now while the price is low. I don't think we're going to have much of a chance to get cheap bitcoins anymore.

Some are afraid to buy because of the recent dump. It's just weird why some people telling us to buy on these levels when the price of Bitcoin before is at an all-time high. But now, they are afraid to buy.
To be honest, that is one of the many mistake of most of people especially those newbies who didn't experienced bear market.
The 2017-2018 bear market is the best example of this, you are right, I remember the days.

I think we should call this a good opportunity, it's not that BTC is nice, it's on a cycle and we can say it again in the next bear market when the price goes down hard again.

Just take that opportunity, specially for newbies. It's 2017 again, when the price hits all time high and then there could be some newbie investors who bought it that high. And look at today, we consider it as the floor price for now. So good buy moment for everyone.

BTC is being too nice and it's expected to continue being nice. Though many had thousands of opportunities to buy but were speculating, while many had thousands of opportunities but didn't have the financial capacity to buy as at when the opportunities came. Then, also don't forget that there are some who has never known bitcoin till today, if bitcoin refuses to be nice, when will they buy theirs? So, bitcoin must continue to be nice in as much as it's still in this buyable stage. If btc makes this final breakthrough, it will surely attract massive adoption which will go a long wey to someone stablize the price(I meant to reduce volatility)

Bitcoin is not bound to stay in low price forever. What we have have at the moment is only temporary, bitcoin will eventually recover just like what history has taught us. So while the market is in downtrend, just grab the chance to invest as you can't be sure if this will still happen again in the near future. Lucky for those who have prepared huge funds to buy back again as they have more chances to make the best of profits in time. But sorry for those who are going to miss another opportunity like this.

everyone's hope of course bitcoin should go up. $20k you think is low, but in fact bitcoin is currently down to touch the price of $17k. There is a lot of speculation circulating about the current state of bitcoin. This market situation will play with the psychology of those who continue to panic and buy at high prices. Eventually all will rise and return to all positions, even a new ATH will be reached. But all require a process and patience.

Their could be many reasons why many people are still watching around at this time bitcoin price is cheap.  It can be true that some maybe interested to buy bitcoin but not having the finance for it now, some people may have it but still nervous about the market if it will still go dip.
For those who haven't buy bitcoin before this is a good opportunity to buy bitcoin because opportunity like this can be rare to experience it again,  it can take a longer time me an opportunity like what we have now.

There are many factors that could lead to this, some might be interested but lack the finance to do so, while others might be watching and waiting to see what outcome it might comes out of it, no one will be able to predict what's going on, what needed to be clear is is that investors needed to know that bitcoin investment over time is as much profitable then as expected, those that go on short time trading also know how to go about it, buying it now while its dip is the best advantage one could wanted to come.

Well, even those people "the people who harbor doubts today" of cause don't think straight. These same people that are refusing to buy now or thinking that Bitcoin is going down and cannot recover will still be the same people that will come back and buy Bitcoin when the price even goes way higher than what the price is now. During the bear market it's easy to see many fearful people and as it has been said, "No Guts No Glory" so only those that are able to HODL through the period and also buy more will be the successful ones.

Well. Welcome to the free market. Bitcoin remains volatile as to this day not because of ordinary people but because there are still so many institutions that are unsure about the technology it brings. The decentralization nature is a big issue especially to many financial institutions because it threatened many of them. Government regulators are divided. And we have to remember that these giant companies are too influential in many government decisions. Domino effect.   

We can't keep saying that bitcoin going down is a great thing forever though, eventually it does become a bit of a problem. I mean understand the fact that it is just an asset and it needs to go up time to time as well to make people happier, and if it keeps going down forever then there won't be any person who will be in love with it and there will be more people who will sell what they own as well. This is why I would personally prefer that bitcoin stops going down already.

20k is just way too low, we were 68k at the peak levels and that means we have gone down 50 thousand dollars! that is a bit of a chunk to lose, and I would love to see it get some of that back soon.

Well, one might've the opportunity to buy Bitcoin cheap or "another chance" as you put it and not do it because of other exegeses at hand. It doesn't mean one is foot dragging when that happens. It will simply mean investing in Bitcoin isn't the goal at the time. Trust me, opportunities to buy Bitcoin will always present themselves from time to time. That said, I think a better opportunity is even likely to come upon us soon as many speculators have projected a further crash in days to come before the bull resumes. Besides,  there could be those who bought Bitcoin when it debuted a decade ago but who don't have any or much now while there are those who bought a few years ago and have continued to accumulate till date.

Opportunities present themselves everywhere if one has the right perspective. Historically buying Bitcoin after major dips has been a successful strategy, but yet, that doesn't necessarily mean it will still "work" in the future.

Emotions play a big factor in making investment decisions especially in today's environment when many are pressed by living expenses, rising inflation and overall political/economical instability. Most crypto veterans whether they are now broke or richer than ever, should have learnt to supress their emotions like FOMO and know how to navigate the omni-present FUD. Really guys, the key is being mindful and having an objective mind when it comes to investing.

Just a note here. BTC is not being "too nice", it is simply the reflection of market participants. Remember that an order book is made of buy and sell orders. If more people are willing to sell than they are to buy we go south and vice-versa. When it is an equilibrium we remain in a range

I don't think bitcoin price will be cheap next year based on what is happening in the crypto market, which is the best time to buy bitcoin and hold for the price to increase higher before you can sell to make a good profit. Many people will not miss this opportunity to buy bitcoin because the price just dropped down to $20,000 few minutes ago that showed next year the price will be very high for investors to make a huge amount of money from their investments. It will be difficult for the price of bitcoin to drop below $18,000 this year before it will hit back to $50,000 for long term investors to make a passive income.

from my own observation and my reasoning about bitcoin i seen that bitcoin is something that have it's opportunity of acceleration anytime and any minute to accelerate. So predicting the measure of bitcoin rising next year is something that You and I, don't know because it might reason now due to the gravity of the market demand and supply, so that is why it's encouraging to utilize this opportunity of cryptocurrency bearish market and invest wisely and largely into cryptocurrency industry. That's from my perspective of cryptocurrency investment.

But in real life, the ones who misses the train can still ride on another train as trains don't remain on one position but they keep on moving, the same scenario can be applied here in cryptos. Btc/price being the train and is volatile.

Btc in the future might not be cheaper as its price now but at least it can still fall right after an all time high and people can still buy it and be able to make a profit once it recovers and reach another new ath but I think a bigger dumps is still possible because if we look at last time when btc hit 69k, it then falls up to this point. It can mean that the higher price gets, the heavier the dump can also be experienced.

In the end, the winners will always those who were never scared to take the risk, and buy and hold bitcoin while others chose to leave the market to stop their losses. It's just sad that a lot would want to be part in the bullish market and make the best profits, but they can't even endure the patience and perseverance that this bearish market needs. At the end of the day, faith is still what matters the most.

If people will still miss the train this time and won't dare to take advantage when the market is giving them the chance to buy, then maybe they still fail to realized that bitcoin will be worth a hundred thousand in the next couple of years and when they see its already coming, they will just resort into regrets. It would be hurting deep within when you are already given the best chance and yet you refused to ride with the train, not because you have fears, but because you never trust bitcoin that it would go that far.

The mentality is that, they are afraid of buying to a free falling price as they think it might not going to recover sooner than they think or not going to recover anymore.
They tend to buy at rapid upward price trend thinking it won't stop pumping until they get a good profit, and then eventually not profiting at all coz some of these people are going to sell if Bitcoin starts falling again.

Well, it is mainly the newbies obviously. People who have been here knows about the current climate and been here before and that is not a shocking thing for us. We have seen crypto get low and we have seen crypto go high, as people who have seen it all, that doesn't really make it interesting for us at all.

I know for a fact that we can't really make it work for us, so we just wait and wait for it to work by itself and go up, after that we can sell for a profit. I have bought from all kinds of places so I am not really a "wizard" in investment, I have bought at under 20k but I have bought at over 60k and all the prices in between, I do DCA but I never felt worried for a second in any of them.

Maybe an opportunity passed. Those who have been waiting to buy Bitcoin have missed a lot if they could not buy at the time of maximum dumping in the market.Those who bought when the Bitcoin market was at $17k but are now in great profit.Maybe I can never expect such a dumping market again.

everyone deserves to have bitcoin I think it's just that limited money makes them not have btc, different people who have more money, what's more, nowadays many new investors are competing to invest in large amounts of btc and hope that BTC will be priced at 60k$ again, only just when that time will come

I agree with u that BTC price will skyrocket but then nobody knows when that time will come so we buy the dip and keep waiting for the price to increase and also everybody deserve to hold Bitcoin it is not limited to particular sets of individuals

I agree with you, the prices we are seeing right now are so generous. I bought some bitcoins this weekend at 19,000 USD with my poker winnings and my left over vacation money. It's crazy are so many people are selling their coins these days. I am wondering now if it's all panic selling and the sellers are making losses, or if it's some older investors who are taking some profits now. But why would anybody sell right now when they bought their coins below 10,000 USD back in the days. Now it's a good time to stock up on crypto coins, otherwise we cry during the next rally that we didn't buy any.

Well, the bloodbath came a year early then but there might still be another next year though, probably like this one.


This is the last halvening you'll be able to DCA (dollar cost average) your way into bitcoin and make a modest profit. And certainly nobody will get rich out of that - I'm actually glad that narrative is largely done with so that people can stop viewing this crypto as "something we can just buy and it will make us rich" - I mean come on, have you ever seen anyone say if they just exchange foreign currencies for dollars they will become rich?

That's a good point you made, during this time when everyone is not happy because of falling the price of bitcoin, actually, the market is giving the people some discount to buy bitcoin at the cheaper prices, and this can be a good opportunity for the people who couldn't buy bitcoin so far or for the people who want to enter the cryptocurrency market as a new investor, buy regardless of that they should always be careful their risk management because we do not know when the bearish market is going to end and we see an uptrend price movement again.

Everyone's perspective is different because they buy at too high a price.
This extreme correction makes those who buy at high prices, of course, will be very depressed in this situation.
Therefore, to overcome this kind of thing, it is necessary to do money management, so that there will be spare money that can be used to buy again at a cheaper price than the initial order. or implementing a DCA strategy is a good option too, provided the capital must remain.

The current bear market is indeed an opportunity for crypto investors to buy Bitcoin. Unfortunately, not everyone sees that as an opportunity. One major fear is - how low can Bitcoin still go, before it begins U-turn for up-trend movement. Investors that understand the associated risk on the investment are the ones expected to invest in Bitcoin. Though Bitcoin might be cheap now, it still requires caution before investing in it, and only those that understand the risk involved and are prepared for such risks. Yes, the current bear market offers opportunity for investors. 

"Cheap" depends on how you see it.

Someone who bought at 60k will feel destroyed seeing that for some unknown reason it corrected so much. That person will probably be out of money now and suffering a nervous breakdown
Someone who bought at 1k will think it's still a good price to take some profit in case it kept dropping.

It's a matter of perspective.

When btc was at $60k, people were saying "I would go all-in at $40k. Then $40k came, those people didn't buy and this time they said, "I would go all in at $30k." Then $30k came and went... Now btc is at $20k and those people are still not buying. They will buy it when btc hits $100k. It happened lots of time before and it will happen again. People just love buying the tops.

I second that, i have always believed that people are absolutely free to think whatsoever that want to about Bitcoin, that is their own opinion and it should be respected, we are Bitcoin believers cause we have prolly seen quite a lot of things that made us believe, we have also done out own research and made up out mind that Bitcoin is perfect, both as an investment and a currency, and that is why most of us use it, for those who do not have the desire to research and find out for themselves, then it is on them; and if they buy other assets they feel are better, then that is their choice.

One thing i have learnt not to do is to panic, over the years my confidence in Bitcoin has grown very large, and i have had no reason to regret that, or to stop accumulating when i see a great opportunity, and for those people that are like me, let us keep accumulating, that is our choice too.

It is true that it is unlikely we are going to see another opportunity like this in the future, sub 20k prices were almost unthinkable a few months ago and yet here we are.

However we cannot force people to buy, they are the ones which must decide to enter the market and if they choose to miss this chance then that is on them, the only thing we can do is to take advantage of it and then hold our coins for as long as we can, as this is the way in which we will obtain the most benefits out of our coins.

Who cares, cheap and expensive, few people think of Bitcoin as an investment method, people are no longer chasing the running train, they are now smarter than they thought, let the train run and retreat, Bitcoin $1xxk or $1xk is not a big problem for them, the trading method is more efficient for Bitcoin now and in the future, now don't talk about the train phenomenon living in 2010.

Everyone has a chance on Bitcoin now, people are really enjoying $21k to $19k two hours then back to $21k and another four hours back to $19k, what is a bad opportunity for Bitcoin users, "no", that's the current method for Bitcoin.

There is no reason to say no about the bad possibilities that will be experienced by traders and investors because actually a dump is the opposite of a pump. If you think pumps and ATH are something bitcoin can achieve, then why not the other way around? I mean dumps and lower prices are possible regardless of the time of day.

Bitcoin is too good for strong hands ^{[big capital owners]} but maybe not for weak hands. It's hard to convince a fly that interest is better than dirt, so bitcoin isn't for the weak without long-term goals.

Frankly, I don't think "deserve" is applicable to investments. The price is very nice, and I think those you the op might refer to as not deserving to buy at such a good price won't buy anyway because they're skeptics and despite multiple times when Bitcoin recovered from situations that were no better than this one, they're probably thinking that this is the end, and that it will never go up. I, however, think the current situation is no different from any previous major fall. I did think the new low would be higher than it already is, and who knows where the bottom will be this time, but Bitcoin can absolutely go to $100k-$200k, and once again many will regret not believing in it.

That's the thing. This time is certainly to wait and watch how the market is behaving.
I think it will take a while before we find the bottom and even after that we will get ample time to enter our trades.
So better to wait for bitcoin to settle down and then buy the freaking dip.

You see the problem is, many investors don't think about what btc price will be years to come, they are only concerned about this present time and frankly it is not a pleasant view, reason why many people will miss this opportunity.
Long term investors are constantly buying while short-term investors are constantly looking at the price forgetting to utilize this opportunity as much as they can.

I disagree. Based on its potential BTC should have a high and stable price. This doesn't mean it cannot be used by people to buy goods and services. It will happen, but it needs more time.

Many people don't seem to understand it but bitcoin is not an instrument to make money but to pay goods. We should want a stable not a high price.

As far as I see, the price will do whatever it wants based on the energy of traders to keep it high, no matter what someone said about it.
The market itself will determine the direction of the price. The best you can do is wait for your opportunity to profit. And as I said before, I think the price will move to more spectacular heights in the upcoming years. So I would go long now and buy more on dip, as prices are very interesting to see what will happen in the next weeks and months.

If someone publish good news it doesn't mean the price will increase, and if someone publish bad news it doesn't mean the price will decrease. That's depend on the market including you, me and everyone here to buy or sell Bitcoin. However there's some news about Bitcoin price is cheap and some speculations that said Bitcoin will reach $100K in this year, that's a good news but the truth Bitcoin price continue to decrease.

the bitcoin market is still heating up and this is certainly a good opportunity for those with cash to spare.
The bear market is also not over, we also need to wait until where Bitcoin will go down.
For those who bought at a high price, this would be hell, a lot of people were liquidated as Bitcoin fell below $18k. Having money in reserve will save their position from liquidation.

Its the market cycle. You can think of it as being nice and its give you another chance to get BTC at discounted price but its still going to give anyone a chance after next halving but it might a bit pricey than today.

Cheap as it may be right now but this bear run is yet not over though. I wouldn't really see this to be a nice market to get into so you better be great at trading when you come. Best not to buy yet we all get to have a chance, everyone should have a chance after all its decentralize.

You made me laugh.

On a more serious note I think the fact that the peak of this cycle was only 3.5 times the peak of the previous cycle and that the price has now dropped below USD 18,000 dismantles many of the narratives we have been believing about bitcoin.

I think the narrative that the little man is going to get rich buying a little bitcoin every month is never going to be true again, because the future returns are not going to be like they were in the early years. And I don't think it was true before either, because the working man without much money who bought bitcoin at 1 USD probably sold at most when it reached 10 USD (if he didn't sell at a loss during a downturn).

I think bitcoin has unique properties and is worth owning, but the stories about reaching 1 million USD in a short time nowadays seem further from reality than ever.

If I think about the type of person that seeks to get rich quick I agree.  Granted that could be most people.  To be more specific as to what that type of person that is- it is one that can not even give a respectable definition of what a true crypto is. They probably have no clue about any of the basic components of BTC.  The dynamics between the blockchain, the software, the miners and the coin itself and how they effect each other.


BUT, to maintain the vision I have understood regarding BTC I have to disagree.

The global economy is on a downturn.  If we are on the verge of a global economic meltdown, we will see many different types of markets crash.  If this happens, it will hurt many but it will be weathered.  However if (big if) we see this happen -and then- this spirals into fiat currencies this could be a disaster.  How much fiat has been printed to combat the economic downturns caused by covid?   Fiat may be ripe for the picking.  In my opinion, when I step back and look at the big picture, covid could be hidden economic warfare.  Designed to level the global economic playing field.  This just happens to be at the same time governments and financial entities see the writing on the wall. Due to the decentralized nature of crypto, their hold is slipping and entire sectors can go the way of Kodak film, we just don't need them anymore.  Even if we did like them.

So for the people in a country that could utilize BTC to escape bank withdraw halts/restrictions or fiat crashes (like Cyprus or Argentina)  I would rather they got in at 15k vs 70k and fulfill the lifeboat "outside the system" vision that influenced the birth of BTC.

So in that sense, I'm happy to ride another dip vs economically decimating people who are in dire need by being forced to flee fiat at BTC all time highs.  I understand what effect this would have on the price of BTC, unforeseen all time highs.  But those who have to flee first (and probably the hardest hit) will benefit most because they got in at lower prices, thus providing much needed aid to that population.

Lighten up

Yes. You can look at the historical charts and make some inferences if you're in to analytics and even if you're not, the global economic metrics are enough to give you insight as to how long the slump will last. Institutional investors are out of crypto for the time being (a lot of them are, not all) as people make preparations for a recession. As long as the economy is down, entire crypto market will be down.


Why be so harsh? No one is late to join crypto. This sort of sentiment is toxic.

Any price would be cheap until more than 90% of Bitcoin in total supply is mined by Bitcoin miners. Let's count it down. When less than 10% of total supply left for mining, it will be not easy to own 1 Bitcoin.

1 BTC is 1 BTC, always but it does not mean if people enter and exit with loss. They mostly care about their loss in a very limited time like a few months, 1 year or less than years.

As an asset, Bitcoin is cheap in eyes of people who love it and understand its value but it is expensive, unacceptable expensive with people who consider it as a scam and don't believe Bitcoin has any value.

The DIGITAL GOLD lie has been dead for a while.

Dead like: Bitcoin is an INFLATION HEDGE.

Dead like:  Bitcoin will be used as money

Dead like:  Man other lies that they try to use to make the Bitcoin Ponzi bigger.

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BTC will be nice to everyone by going all the way to NEAR ZERO  

And yes, if all I have to risk is a few dollars of my lunch money to buy a bunch of Bitcoins, I will buy the dip !!!!!!!!!!

There is no way to predict what the future holds, so even though I agree with your opinion and believe that the price of bitcoin will skyrocket again at some point, I still recommend that everyone be careful with their investments. For now, I'm not interested in jumping deeper into bitcoin but I'm not selling either, and I'm sure I would still like to see its price increase as a digital gold currency in the future.

And one day BTC will leave the people who harbor doubts today. no matter how deep the bear threat makes some people give up, we need to remember that Bitcoin filters those who have lost faith to provide something extraordinary for those who still believe. Now we know who is with Bitcoin and who is pretending to support Bitcoin.

Hold on tight!!

You might want to see a therapist to help with that maniacal depression.
BTC market is falling to pre-covid levels, meaning btc ~$11k and ethereum at ~$480.

Your confusion of BTC as an entity with magical powers is why you make such bad decisions when investing.
You should have sold some BTC at ~$60K, that way you would be alot calmer now.

 

The ones who will miss this train also might never see another. Do you really think BTC will be so cheap for the next years to come? Once it goes in the $1xx,xxx zone you better get used to it.

BTC is being too nice because most people don't deserve another chance after they had thousands of chances to buy it cheap and did nothing.