Topic: Do not get discouraged by the current price of Bitcoin - page 6. (Read 1689 times)

People who later failed in bitcoin investment and said it was a scam are those who rush to invest. These are the people who did not learn anything basic about the investment. Because they see or hear that the price of bitcoin will soon reach ATH, greed pushes them into the market. And bitcoin investment is not working that way. As an investor, you have to know everything about the investment, both the dos and don'ts of it, and the risk of bitcoin investment is very important too.

You know they don’t really know the risk of the investment until they invest, and they later realise how the market works and some other risk that is attached to bitcoin investment, which is when their eye is getting cleared. You will hear someone claim that Bitcoin doesn’t favour him, not knowing that he or she is the one who did not follow the right path.

The price is very volatile. No one can confidently tell you how the market will look now or after, so we need to be very careful when it comes to investing in bitcoin, knowing the risks that are attached to it and also being ready for a long-term investment because people get confused when they see the market is dumping and sometimes even sell at a loss, which is not the aim of the investment; the aim is to make a profit from it. 

If someone wants to sell their coin, you don’t have to force them to keep on holding. Everyone has the right to do what they want, since they invested their money, so they can sell when they want. The problem people are having is that they don't really know what halving is all about. Most of them just think that after halving, bitcoin will start pumping, but it's not like that, always it does take months before the bull run will start.

Some people sold their properties just to invest in bitcoin because they heard after halving that it was going to pump. Most of them don't know it's not immediately after halving, and now people who don't know much about halving are angry that bitcoin keeps on dumping even after halving.

If there is any dump, if you have any amount of money that you won’t be using for now, then you can just keep on accumulating your bitcoin. Just know that a bull run is coming, but the problem is that nobody knows when it’s going to start; it might be when people never expected it, so just be prepared.

If you do get used to on how this market works or behaves then you do find yourself having that better control.  

One of the main reasons on why i dont really make myself giving out some suggestions or recommendations to other people is that whenever they do lose up money then the ones that would be taking out the blame is the person that make out some introduction to them on which they would really be pointing out their fingers on you as if you are the ones whose at fault on losing up money.
If they were really that been aware on how this market works then they wont really be making out such thing or those kind of comments.

On the time that you would be able to gain up that sufficient experience then you would really be finding yourself that be able to handle out such situation or condition.
This is why experience would be the best teacher as always.

One may either convenience the other person that Bitcoin is not a scam or else you may stop this argument as it is hard to change the opinion of the people generally. With the passage of time, those who do not believe in bitcoin will change their statements and view point when they will see the adoption of bitcoin worldwide and more and more people using bitcoins globally.

Even the people does not know what is halving and how it put a cut on the supply of bitcoin and miners reward. They only think of Halving as the sell the news event and therefore we usually see pressure on bitcoin price right after the halving. However, soon this short them dump in the bitcoin price will be over and then we will enter into a real bull phase of the market.

Hahaha, this is absolutely right!
It is better to explain to a friend who says that Bitcoin is a scam than to explain to a layman because whose belief is based on negative teaching, then explaining to him is nothing less than a pointless task. Anyway, you spoke to my heart, we can't even encourage a person who thinks Bitcoin is a scam. But explaining to him that Bitcoin is one of the best assets for investment blah blah becomes a little difficult task. 
 

In my opinion, one should stay away from this friend who does not understand what the creataria of Bitcoin investment is. . And the person who doesn't know this, then he should just leave it where he is, meaning to explain it to someone who doesn't even know the B of Bitcoin is abusing himself.

People who entered bitcoin investment without doing some research are definitely the ones who are discouraged right now with the current price, but I don’t think these long term hodlers who have already experienced past halvings still get discouraged with how the post halving has turned. It’s normal to see btc price drops after a halving event, because we all know after a couple of months, bitcoin price will eventually create a significant rise which may lead to achieve its new all time high in the process.

I don't get discouraged at all since my bitcoin is worth 100x more than I paid for it years ago, even at -20% from the top. The way I see the current price action is that it's a battle between ants. When you stand on the grass, all you see is the weather outside, trees, nature, but below, right next to your feet, there can be a whole ant colony of over a thousand workers panicking that some giant is walking by and shaking the ground. People who bought their bitcoin at $65k might panic when it goes below 60 because they feel like losing 10% is a disaster, but people who hold 100 BTC bought at $1k don't care. They can be up $6 million, or $5.9 million and they'll sleep like a baby every night.

Bottom line- this is a matter of perspective. For some of you this was a crash, for others just a shakeout of weak hands and gamblers.

But of course, it's obvious Bitcoin isn't done with upward movement yet. In fact, now isn't even the right time to short Bitcoin. Those who trade Bitcoin should be out looking for buy opportunities, not sell. I'm sure those who sold a few days ago when the market experienced a dump will be regretting doing that now. Well, I don't know if Bitcoin will fully recover from here to the upside or it will still dip again to the $52k region to test it as there's a strong support down there and a gap for it to cover.

It has been only a couple rough days, we are back on track now!

Obviously, one of the best decisions he made was investing in Bitcoin but he didn't gather enough information prior to investment. If he had done that he'd know that the price was not going to explode immediately after halving. Sadly, many persons are making this same mistake, they feel discouraged by this hiccup, but it's just a deep and it's very normal. The market may not be looking good right now but it's going to bounce back real soon and they're going to be thankful for buying Bitcoin and HODLing.

Post halving patience testing is one way to put it. Definitely this has been the least action mixed halving till date and people are thus panic selling or panic buying at the wrong times making the prices go haywire. However the overall movement has been positive as of todays date as bitcoin is climbing back up to 61k USD and moving in the greens. Still these movements are all temporary and opposite side movements will not be uncommon. This is one of the facts that bitcoin investors need to get in their heads. The short term volatility is high and panic or FOMO will only lead to bad outcomes.

The decision to invest or divest from bitcoin should be taken after long term charts viewing not just today and yesterday's price.

People who buy Bitcoin by taking look of the price first are people who only want to make short term profit. This kind people are actually not trust in Bitcoin, that's why they mostly panic selling due to afraid to hold during bear season.

While the true Bitcoin enthusiast invest in Bitcoin because they want to enjoy the privacy, security and decentralization that Bitcoin have. Unfortunately not many people are Bitcoin enthusiast because they hold their coins in centralized exchanges.

This line of argument is obsolete following recent developments in Bitcoin such as it becoming legal tender in many countries now and many institutions investing in Bitcoin. Last year till now have seen a massive reduction in the number of Bitcoin critics who always refer to Bitcoin with those line of thoughts. Now is the time for regrets for those who listened to those critics and failed to take actions when they heard about the opportunities that abound in Bitcoin. I have check the social media handle of most of those infamous critics and the energy with which they criticized Bitcoin has disappeared.

Regarding the present market condition, it is only those who are new to Bitcoin that will panic. For me I see it as opportunity to buy more Bitcoin and I am happen the dip actually happened because I used it very well.

Those that are going to be discouraged are those who doesn't or are short sighted enough not to have seen the true potentials that Bitcoin holds, those who also bought Bitcoin for a short term profits will also be discouraged probably Bitcoin is falling down below their entery point and so many will panic and sell at lost, while those that bought for long term holding will size this opportunity to buy more Bitcoin even being aggressive but not over doing it as they buy more Bitcoin with a lower amount compared to their buying at it's previous high.

Some investors who have regretted their actions because they sold the Bitcoin they once owned too quickly also still place their focus on Bitcoin because they will definitely not just forget about Bitcoin even if they have to buy it again at a price that may be higher than the price they bought before. Because now Bitcoin is considered an important asset that is worthy of being owned by anyone in the long term, so every price correction and discount in the market will always be taken advantage of by investors who like Bitcoin.

A decision that would make him regret it. Not many people are able to be patient with market conditions even though it is still testing.
As most people say, there is no need to take part in discussions between two of your friends because it is not important at all. Making decisions without any knowledge based on boredom is a stupid act. It's not our money, it's none of our business.

If the current market conditions make it difficult to break the price of $75k, then it should be remembered that Bitcoin once reached a price of $73,777 which is close to $74k.
If a few moments ago the price fell to $56,552, now it has strengthened again to $61k.
Patience is needed but don't give advice to people who think like one of these friends.

I agree about not forcing our friends to invest in Bitcoin. Let him choose after he has looked for the information, but if he doesn't want to look for more information about Bitcoin, we still shouldn't force him. Everyone can invest in Bitcoin but it depends on how they view Bitcoin. If we believe in investing in Bitcoin, we just continue investing while waiting for the time when we can make a profit. One day maybe our friends will realize Bitcoin's potential for them and they will come to us to learn more about Bitcoin and start investing in Bitcoin. The current price position is a good time to start investing and hopefully, those who haven't started yet can start immediately so that they can later benefit from Bitcoin.

I cannot agree with you at all because I myself cannot believe that Bitcoin is a scam. Of course when you check Bitcoin you will tell yourself that Bitcoin is  scam free. When you invest in Bitcoin you need to invest properly if you invest in wrong place you will definitely lose instead of getting profit from that investment so before investing you must acquire enough knowledge about investment. Many times it is seen that many newbies invest in wrong places without proper knowledge about Bitcoin and they get hurt a lot. They think that Bitcoin is not correct. Before investing you must get your proper Bitcoin knowledge. Then you invest then you will see that through Bitcoin you You will get proper success. Many times we lose patience when it comes to Bitcoin investment. If we can invest patiently without losing patience and always have a long-term Bitcoin investment plan, we will surely achieve success through Bitcoin investment one day.

There is no chance to say that Bitcoin is currently a scam. But you cannot force your friend to earn money by investing in Bitcoin. Our world is such that if someone benefits from me he may thank me but if any harm is caused then he will fully blame me. So it would be wise to do your own thesis about Bitcoin and invest as much as you can on your own. The fact that Bitcoin has not yet reached the desired target but has fallen does not mean that it has no chance to rise. However the current drop in prices has created an opportunity for investors. So there is still time to invest in Bitcoin and profit from it.

Firstly, Bitcoin is not a scam, pyramid scheme or ponzi scheme and don't be discouraged of buying or holding Bitcoin, because Bitcoin keep increasing as time goes on which early investors of Bitcoin that sold early now are really regret it. Therefore Bitcoin is the future of financial services sector across the globe and is more reliable, transparent and secure.