Topic: Do not get discouraged by the current price of Bitcoin - page 8. (Read 1714 times)
Actually I think a lot of people get discouraged because of the current price of bitcoin. But that's not enough reason for you to get discouraged, considering the current situation of bitcoin yet no coin was able to overtake bitcoin, that is why bitcoin happens to be the most reliable and profiting coin in terms of investment. However I can never get discouraged no matter how the price is, I will just stick to it, reason been that I know pretty well that the future is bright, is only those people who does not understand the market very well that will get discouraged.
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.
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.
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
Weak hands are their own worst enemy, since the only thing they need to do to accumulate profits they may not see in other markets, while at the same time they take almost no risk on the process, is to keep holding their coins, but many of those people expected for bitcoin to present an upwards movement immediately after the halving, and this was not going to happen, since whales are really smart and they are playing with the patience of those people, knowing very well they will get desperate and sell their coins, which they can later buy for cheap. 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.
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
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.
The guy who wants to sell reminds me that you can never lose investing in Bitcoin except you decide to sell prematurely. The problem he is having is ignorance and it will cause him to lose some money. These are the same people that will go around saying Bitcoin is a scam, meanwhile, they failed to do a proper study of the industry before investing. Quote
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.
These premature investors came into the Bitcoin market with the mindset that Bitcoin is a get-rich-quick scheme. The want to invest today and cash out big profit in few days. I don't think the Bitcoin space needs this kind of investors who come with this kind of orientation. We still believe that Bitcoin price will go up but nobody knows when or how. We just have to be patient and don't allow FUD to determine our decisions. 
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.It is crazier to think that in the year 2024 there are still people who do not know that Bitcoin exists. Bitcoin adoption and information dissemination is still in the process to reach people that are yet to know about Bitcoin especially those who are in rural areas.
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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
Well, there are people who were a victim of ponzi schemes and fraud company that uses Bitcoin as their "products" to entice people into investing in their company, so we cannot avoid that people who are a victim of these schemes may think that Bitcoin is a scam worst, probably they even spread their belief to their friends making these "friends" think that Bitcoin is a scam without even knowing what Bitcoin is. So it won't be surprising that there are still people think that Bitcoin is a scam, even in social media some known people still think Bitcoin is a ponzi scheme.
But regardless, as long as a person understand the Bitcoin market, instead of being discouraged, they will be greatly encourage to accumulate Bitcoin especially when it price drops and it happened after the halving because the Bitcoin history shows that price surge after some months of the halving event, and this is the best time to enter and reenter the market.
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.
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.
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
The halving was supposed to pump the price of Bitcoin but right now we are all seeing a negative outcome from that. 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.
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
I don't we don't need to be too bothered about the current market because all we have to do is to make sure we are holding and that is how e can benefit from the entire crypto market. Cryptocurrency market is huge and because of the panic of not seeing a good results in the market, many investors have been selling part of their holdings to invest in other sectors.
This is something that has happened historically as well. I keep telling R100K community members to not be discouraged. This is just post-halving price corrections. Bitcoin achieved a new ATH a month before the halving, which is why there's been a significant dip after the halving. More importantly, the bull run doesn't happen directly after the event. It takes a few months. So, my hopes are high. You can even benefit from the dip by investing in the right high potential coins and bitcoin so your portfolio remains diverse. I have invested in a crypto firm that offers great returns and promises maximum profit when bitcin reaches 100k., so I'm in it for the long haul!
Op the fried who was eager to sell his Bitcoin does not understand Bitcoin and also he do not understand scam. If he was hodling Bitcoin for some times now and that the market price just slightly reduce and he started to panic again to sell off his coins. That looks like hypocrite. The guy is not truthful because probably he is hidden something from his friend if how some keeps Bitcoin when it was high and selling in the low. If if was a Ponzi Scheme, he wouldn't keep his coins there until now.
And if he kept it till now, he wouldn't withdraw it because they would freezed the coins and tell him different stories to steal the coins. He has to study Bitcoin more before he can invest in Bitcoin. And panic selling is not good in Bitcoin because you missed the real track to sell. And the best way is to be patient. Even now again the market is regaining itself.
Your friend is just like this guy.
And if he kept it till now, he wouldn't withdraw it because they would freezed the coins and tell him different stories to steal the coins. He has to study Bitcoin more before he can invest in Bitcoin. And panic selling is not good in Bitcoin because you missed the real track to sell. And the best way is to be patient. Even now again the market is regaining itself.
Your friend is just like this guy.
The price of bitcoin is falling, so it's an opportunity to collect assets for the future. Learning from experience, many people waste opportunities when bitcoin goes down, so they regret it when the price of bitcoin goes up. Don't lose the opportunity to be rich in the future.
Bitcoin has been around for more than 10 years, still calling it fraud? I think your friends have just entered the world of investment, that's why they are afraid of losing much bigger money. They only think about short-term profits. Increases and decreases in investment prices are very common, so don't panic too much about this. True investors will of course not sell their assets now, they will continue to accumulate gradually and sell their assets at the price they want.
What is happening currently is just like what happened when the news that bitcoin ETF would be approved by January 10th,and before then a lot of people invested in bitcoin thinking that immediately the ETF is approved bitcoin price will skyrocket. Maybe that guy is in a rush to take profit thinking bitcoin works like ponzi scheme.
It didn't happened like that, but instead the price of bitcoin dipped for some days before it started pumping. So most people that are panicking because of the recent dip, thinks that immediately after the halving, the price of bitcoin will pump, which is where they got it wrong. The halving only triggers the bull run, so no need to worry because the bull run is on its way. Relax and hodli, if you ha e extra funds enjoy buying at the dip.
It didn't happened like that, but instead the price of bitcoin dipped for some days before it started pumping. So most people that are panicking because of the recent dip, thinks that immediately after the halving, the price of bitcoin will pump, which is where they got it wrong. The halving only triggers the bull run, so no need to worry because the bull run is on its way. Relax and hodli, if you ha e extra funds enjoy buying at the dip.
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.
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.
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.
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