Bitcoin itself isn't a scam, and calling it so is just a mistake based on confusing Bitcoin with other things (other crypto projects or scammers who take BTC from people).
But I also think there's no sense in convincing people to hold Bitcoin. Financial decisions are personal, and if someone feels uncertain, it makes perfect sense for those people to sell.
But yes, temporary price fluctuations aren't a strong reason to sell and don't mean anything it wrong or riskier than before with Bitcoin.
Topic: Do not get discouraged by the current price of Bitcoin - page 8. (Read 1472 times)
It is people who does not know they fundamental ways of Bitcoin that will be discouraged for investing in Bitcoin because the price of Bitcoin getting depreciated in the market can't be one of the things that will make you to be discouraged for investing in Bitcoin the thing I know quite well is that bitcoin investment take place when the price is high and it is people who does not understand the method of investing in Bitcoin that I think that the best time to invest in Bitcoin is when the price is high why the best time to invest in Bitcoin is when the price is low so at this point that the price of Bitcoin is getting lower so I think we have to wait and cross check the movement of candlesticks if it will be continued to going down or not so if the price is something that will continue to go down then we have to wait on the purchase more of Bitcoin to accumulate in our wallet
Never advice anyone to invest in anything, if things go south - you will be blamed, you will lose a friend or maybe get in a life long fight with a family member.
Worst case scenario, they will go to court with you for wrong financial advice etc.
I don't think it was a piece of advice but just a sort of reminder that halving couldn't save Bitcoin from a sudden drop nor it keep everyone waiting for the new ATH because whether we like it or not, it remains unpredictable and many investors will sell as the price skyrocket. In fact, we've been surprised with this as we expect more on the pump after halving, and we are wrong. Worst case scenario, they will go to court with you for wrong financial advice etc.
But I see the point of not encouraging people to buy especially when they are uncertain and no-how about this because you are right, these people will blame us in the end and even say we are scammers. We'd rather tell no one and just let them discover this by themselves.
A Bitcoin trader knows what is the buy price of his bitcoin and when he has to sell. If an investor decides to sell his bitcoins I will not stop him. But if he doesn't have proper knowledge about Bitcoin then I would suggest him to keep his Bitcoin. Because there are many investors who don't value the importance of holding bitcoins due to lake of his knowledge.
There are many ETF traders today who will never hold because they have invested too much to make short term profits. And those who are holders invest such amount of money that they can keep for a long time. So it is not possible for everyone to become a holder of Bitcoin.
Not everyone can dream by Bitcoin and those who don't try to hold bitcoin according to the potential of the future can never expect high return from Bitcoin.
There are many ETF traders today who will never hold because they have invested too much to make short term profits. And those who are holders invest such amount of money that they can keep for a long time. So it is not possible for everyone to become a holder of Bitcoin.
Not everyone can dream by Bitcoin and those who don't try to hold bitcoin according to the potential of the future can never expect high return from Bitcoin.
You are right. The effect of the halving on the price isn't instant. It takes several months before the price totally absorbs the impact of the halving. It takes more than a year before an ATH is reached after the halving. Today, we're just a couple of weeks from the halving. Those who are expecting the price to skyrocket this early are too excited. They need to get back to the charts to realize they're expecting a premature ATH.
If the correction today shakes them already and pushed them to sell, then they've failed to properly prepare themselves.
If the correction today shakes them already and pushed them to sell, then they've failed to properly prepare themselves.
The majority of newbie investors fall guilty of this(selling their bitcoin), each time the price of bitcoin decreases. To them, they have in mind that, bitcoin will always soar in price, it will never decrease below their invested price. The moment it does, it will begin to give them the wrong impression that bitcoin is a scam. Just because it doesn't go as they must anticipate it to go(have an increased price that will generate profits).
I learned to believe that, those that foresee bitcoin as a scam, were not properly educated on the basics of bitcoin. They were only told, to invest in bitcoin and make money without letting them know about the bitcoin volatility. You can imagine when someone has that kind of wrong perception at first, what would you think would be their reaction? To react badly, I think.
In a nutshell, let's be mindful of how we introduce bitcoin to our friends or relations because not every one of them can be able to endure their money being lost to what they have no full knowledge of.
I learned to believe that, those that foresee bitcoin as a scam, were not properly educated on the basics of bitcoin. They were only told, to invest in bitcoin and make money without letting them know about the bitcoin volatility. You can imagine when someone has that kind of wrong perception at first, what would you think would be their reaction? To react badly, I think.
In a nutshell, let's be mindful of how we introduce bitcoin to our friends or relations because not every one of them can be able to endure their money being lost to what they have no full knowledge of.
Yes people are panicking by this sudden price drop. This only proves that these guys are the short term traders and not into Bitcoins for long. This is just a price correction I would say and this is very normal. Instead of panicking I would suggest treat this as an opportunity to buy the coins for cheap. Bitcoins will again rise in price if the demand to accumulate the coin increases. Hence don’t miss this chance and buy the coins asap.
A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.
What? so someone buy Bitcoin just because they believe it can reach $80K? their expectation is really really small! the volatility in Bitcoin is high, reaching $80K is easy, it will happen either in this year or next year.Indeed your friends have no idea about Bitcoin, if your friends only looking for small gains, why he didn't choose blue-chip stock instead.
Let your friend make his own decisions, but show that you are glad that Bitcoin's price has fallen a little since there is still an opportunity to buy at a cheap price. Your friend will be discouraged, and later you can show him that with Bitcoin you need to have strong hands, not react to small price jumps, but, on the contrary, look for ways to buy more at such moments.
The people who are disappointed and depressed about Bitcoin's price after the halving are the people who get all their information about Bitcoin from cryptocurrency influencers on Twitter, YouTube, TikTok, Facebook, Instagram. Anyone getting their crypto information from there will end up having the wrong information. And the wrong information is worse than no information whatsoever.Anyone selling one is doing so at a loss. This will not be the case if they sell , 13 months from now which is what it has been historically.
If this is your first halving experience towards Bitcoin and expecting that there would be a moonshot afterwards then the current condition or situation of the market proves out that it is not. Do your own research and trying out to compare or making out some reflection on how many months did the market shoot up its price after the halving and dont make out your own dates or periods because even if
this market is unpredictable but doesnt mean that you wont really be making yourself that adaptive on whatever the things that do happen in the market and this is why it would really be always advisable
that you should really be that adaptive and be versatile on whatever the market condition would be.
Discouragement would really only happen on the time that you do find yourself been expecting for positive things but since the market is really that unpredictable then
prices would really be that totally random as always.
The people who are disappointed and depressed about Bitcoin's price after the halving are the people who get all their information about Bitcoin from cryptocurrency influencers on Twitter, YouTube, TikTok, Facebook, Instagram. Anyone getting their crypto information from there will end up having the wrong information. And the wrong information is worse than no information whatsoever.Anyone selling one is doing so at a loss. This will not be the case if they sell , 13 months from now which is what it has been historically.
I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.
As much as I want to overhear conversations like this, I let them be what the other want to do. If he wants out and wanting to sell, then he can do that on his might and no one is going to stop him from doing so. Because we're all investors here and if it doesn't make sense anymore for you as you hold and you're incurring losses and your main option is to get out then get out as no one is going to stop you even your closest friends. When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.
It's about cutting loss or having some little profit. As the market crashes today, it makes sense if that guy will take whatever he's got and comes back again whenever he's available. Encouraging them to invest based on our feeling shouldn't be done, we can tell our sentiments and thoughts about the market but we can't dictate them what they should do when we're done telling our suggestions to them. I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong
It's normal for people that haven't been here for so long to panic. They think that it's the end of the world when they're mostly seeing the reds in the numbers. We can't blame them for having that panicking moments because all they want is to make profit but as they wait, they need to experience these drops for them to learn on how be resilient just as how Bitcoin is. 
Panic holders will definitely be discouraged; you can't stop them. Even they will not care about your explanation and can't convince. When they see the red candle, they think it's impossible to recover and become afraid. There will always be a few people there who become panicked by the red candle. But legends will accumulate on the dip and make money. Panic sellers buy at the top and sell at a loss. It's true that Bitcoin isn't acting well after the halving. It's normal that Bitcoin will take fuel before another pump. So the current situation is normal, and we will see another breakout soon.
If you arent get used to it then you would be normally be having those kind of impressions and reactions but if you are someone who do get used to into this market then you would really be seeing this as an opportunity instead of a thing that worries you. It would really be that so normal that the market would really be having corrections. We cant really be just have a market that would really be shooting up like forever when it comes into its price.We've come to think that we did able to break its ATH before halving event on which its normal that there would really be assumptions that there would really be corrections comes at next.
This is why it would really be best that instead on panicking it would really be better to accumulate even more on which this is the wisest idea that you should really be considering.
We do have a pumping market and so as with dumping one. Instead on panicking and freaking out, it would really be just that ideal that you should really be accumulating
more before bull run would be kicking in.
I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.
By reading only these lines I can say for sure that the friend calling BTC scam is the one with lesser knowledge as he must have followed some influencer or some person who must be telling him to invest in BTC and saying that after halving you can make more than 2x or blah blah. But that person must have failed to tell him that bull runs don't start just after the halving. We should teach things specifically to the newbies so that after not getting results they won't go after you. He must be told that he should wait and he can only wait if he has enough knowledge to know the potential of BTC.Without proper knowledge, these types of words come out of your mouths.
expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.
But I was expecting a new ATH of $100k, I don't think most of the people are expecting an ATH of $80k only. Even many people are saying in this bull run BTC will make $150k but I don't think it has that much potential now. I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period,
If you know these facts that after halving BTC price doesn't go up suddenly then you should not call your self inexperienced because you have experienced a halving and you have making decision on that knowledge.
Panic holders will definitely be discouraged; you can't stop them. Even they will not care about your explanation and can't convince. When they see the red candle, they think it's impossible to recover and become afraid. There will always be a few people there who become panicked by the red candle. But legends will accumulate on the dip and make money. Panic sellers buy at the top and sell at a loss. It's true that Bitcoin isn't acting well after the halving. It's normal that Bitcoin will take fuel before another pump. So the current situation is normal, and we will see another breakout soon.
I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.
It's just a waste of time and positive thoughts to try to explain everything related to Bitcoin to such models of friends who think Bitcoin is a scam.His understanding of Bitcoin is only about price. Only willing to accept Bitcoin when the price is increasing while when the price is decreasing, one or two reasons will be born to consider Bitcoin a fraud.
If you continue to be in a friendship environment like that, it's bad for you. If you have no other choice, confront your friend with his stupid thoughts by explaining that Bitcoin is not about 1, 2, 3, 4, 5, 6 or 7 digit prices. Still persisting in his stupidity, leave him.
I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam
It’s crazy to think that in the year 2024 people still believe that bitcoin is a scam. I just know that these people do not understand the actual concept of bitcoin that is why they say that it is a scam. I do know the dangers of scams particularly ponzi schemes however it has been well 15 years since bitcoin was launched and people still do not understand how different bitcoin is to a scam
Bitcoin is a digital asset that can be owned, bought or sold.
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a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong
You are correct and if people are selling then it just means more for us
Those who don't have patience will never have huge profit on Bitcoin. Weak hands will sell, let them, just keep on DCA and be glad of the current discounted price of Bitcoin.
Huge profit = Hodl ! I have a unanimous opinion about it, like you, that profit is always in front of patience. I mean, if someone doesn't have the ability patience, obviously he can get the chance to get back with a high profit.
To b honest To the extent that I have knowledge about the market, I think that this time there is a much better scenario than the previous experience. Those who have seen the previous halving know that after the implementation of halving, this price dynamic decline is a grab opportunity, There should not be panic, it is best to hodl and to buy more is a wise stance in current sentiment.
Experienced traders are looking for the opportunity to get a slightly discounted price of Bitcoin in the bull market. The accumulation of bitcoin is yet to be found. So don't be scared, it's nothing more than normal, they say "healthy correction is necessary for the next jump".
I don't believe that at this present time people will still be lamenting that Bitcoin is a scam they don't have to take them anything to make a research So find that if Bitcoin is a scam or not because many people now is into the bitcoin markets because they have already noticed that Bitcoin is not a scam and the when you invest on it properly you will make a profit but when you don't invest on it properly you will not make a profit so that is the thing that is involved in Bitcoin.
Currently is not good for someone to be dependent to the friend in anything that deals with cryptocurrency because you can make a research with your handset and the laptop if you have any of them when you carry on your research you will find out the good and the bad that is involved all that is into a cryptocurrency, that is why they get discouraged by people concerning the price of Bitcoin because when you are not informed you will be totally deformed.
Currently is not good for someone to be dependent to the friend in anything that deals with cryptocurrency because you can make a research with your handset and the laptop if you have any of them when you carry on your research you will find out the good and the bad that is involved all that is into a cryptocurrency, that is why they get discouraged by people concerning the price of Bitcoin because when you are not informed you will be totally deformed.
There are still people that will tell you they don't believe in Bitcoin and I don't blame them. they don't know what Bitcoin is all about, they have an idea of the worth and the value of Bitcoin they hold on to that mentality calling Bitcoin a scam. based on experience that the majority of them have encountered with Ponzi scheme they are using that same experience to judge Bitcoin and Bitcoin is not Ponzi, but if they have anyone to give them an orientation about Bitcoin and they get to understand Bitcoin they won't want to leave it the only challenge they will be having is waiting for the price to go up whenever the price is down.
People are getting to understand Bitcoin more compared to before, still wondering how Bitcoin was able to get people's trust and also get them to invest even in market news you get to see news about Bitcoin. is good that anything you want to do in cryptocurrency makes your research and your own decision, bitcoin is based on information and it will be much better if you have that information.
Newbies get discouraged because of the price fall. Experienced ones get encouraged, because of the opportunity to buy the dip. Honestly, that's exactly what I'm feeling right now. Cheap bitcoin coming out of the weak hands' wallets.
I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period
It happened in May 2020. Halving occurred in ~$9k, then for a couple of months it fluctuated in the $9k-$10k range, and then in July, it hit $12k and stayed there for two or three months, IIRC. In November it hit $15k, January $30k and the rest is history. Jump to: