Topic: Economists advise caution in trading in Bitcoin currency (Read 357 times)

The reason that there is no authority or room for more supply is why it has become so valuable. It's decentralized and has a limited supply, it's global and available for any individual living in any corner of the world having a mobile or a PC with an internet connection, it isn't to be used within a specific country or territory. The mechanism that controls when it collapses or goes up is the demand and supply, it keeps going up as the demand increases because of its limited supply, and comes down when the demand decreases and people start selling their assets.

However, it won't collapse just like that because the demand will never cease to exist all of a sudden. If there are 20 million people holding Bitcoin, and 2 million out of them decide to sell their assets, that won't make the coin collapse but it will just have a slight plunge because of that sell-off.

What do we care about what they say and ask one thing about how anyone can find a system of freedom like that provided by bitcoin. It is the job of economists to try to give a few words through their academic studies and their nature is for advice and what do they know about bitcoin so they dare say something like that? I don't want to talk about legal prohibitions through any jurisdiction because we know that Bitcoin is quite independent in providing financial freedom to individuals, so the aspect of choice can be taken as far as it can provide benefits and advantages.

In the end we have to talk about government profits through taxes imposed and the same way the banking system sucks the blood of its customers in search of profit. But that doesn't fully talk about taxes because when we convert bitcoin to fiat there are also taxes that are charged. They are afraid that this system can be destructive, which makes it difficult for banks to regulate and if they look further, they are afraid that they will not be able to control the freedom of their people in making choices in fiat or bitcoin. Forget them and do what we can so that we can set ourselves financial freedom through bitcoin because it is much better than the options that exist today.

No traditional finance is a paradigm shift, but isn't that innovation? Emerging financial ecosystems challenge the status quo. Bitcoin represents the digital transformation from tangible to intangible value. It shows social digitalization. Trust in technology and traditional institutions gives Bitcoin value. Modern alchemy converts digital trust into wealth

Bitcoin's volatility, a risk, might be beneficial. True free markets have no central controls. Bitcoin's fluctuation-resistant growth is astounding. Mature markets lessen volatility as liquidity rises. Bitcoin is a currency and symbol of decentralization in this financial renaissance. Our risk concept must grow with currencies. In a world of constant change, Bitcoin signals a new economic era=

Let them say what they have to say about bitcoin if it's changing a lot of people's lives and not them then so be it, just don't prohibit or stop your people from investing in something that they believe in and that will help them throughout their financial struggles. Those people that are worried about bitcoin are either against it because they give freedom to the people from the conventional financial institutions or that they want to create an artificial negativity in market or FUD so they can buy bitcoin at a much cheaper price since fear discourages some people from investing in bitcoin if they hear this so-called "trusted" authorities saying that investing in bitcoin is so risky that they need to get out of it if they're invested in bitcoin.

Make sense... but is the belief of many easily shattered here? Certainly not. I see it as a symbol of freedom from a government that regulates its citizens' lives too much. I can say bitcoin is high risk, and even no one can guarantee when everyone will withdraw all of their money. The only thing that makes everyone confident there won't be a massive withdrawal is the ETF. Yes, citizens are just worried because Bitcoin is not 100% internationally recognized yet... they need the stamp of approval from a trusted institution to truly trust Bitcoin. The SEC has that stamp (maybe for short term period).

And is price increase the only thing expected in the world of Bitcoin? I don't think everyone sees it that way. There are still people who genuinely use Bitcoin for its function like a normal digital currency, not just for money gain.

Economist the control freak are cautiously advise you to not invest the btc, because they can not control the btc easily, they tell you must invest in stock such as GME which they have total control on the investment, you don't remember how the last time wsb traders got totally wrecked in GME and order book and account got locked out in their robinhood apps. Oh yes, they can control how you loss money on their tip of their finger, they are the control freak!

I don't care about what some brainless fellow said. By mentioning authorized currency he means it is not legal in the country which is true but this is the power of bitcoin where you can evade any ban from any jurisdiction. This is the freedom bitcoin can provide which other asset can not. There is no way to know the origin of a bitcoin owner and where he is sending or receiving it. This they can not control and that is why they are trying to defame it only by mentioning the negative side of bitcoin.

To control the people they need to control the people's financial abilities. If mass adoption of bitcoin happens throughout the region then they will not be able to collect their illogical tax from their people. In bangladesh banks is paying a lower price for dollars than in the open market for remittances. If people start using bitcoin or other crypto for cross border payments their will be no profit from the banking sector. They will not be able to determine the price per dollar they want. They want total control and bitcoin is a threat to them.

There are more reasons than it. We know them. They have a history of discrediting BTC in the past. So I think the hate is still there. If in case their concerns are now genuine, then thank you. It is only normal for a beginner to be like that, but the harder they fall, the more they become stronger as well. If they are now advanced, mistakes will now be minimized.

Success can be achieved in so many ways but if our definition of it is about being rich, then yeah, BTC is a good component of it. We shouldn't mind those who are not into BTC. They can only regret later on, and they can also decide to join here. BTC is volatile but it is not a disadvantage. This is why we are still here.

We have been hearing things like this for a long time but Bitcoin remains and is even getting stronger and has gathered increased trust from people. As an economist myself, I wouldn't say that Bitcoin is not without its own risks as it's being sustained by people's money, yet, life itself is risky, there's nothing that we commit our money to earn us more money that is not risky. Even to keep money in a fiat bank is risky, and the more your risk, the more money you might gain from it.

Specifically, the main cause of fear among economists is that Bitcoin is not backed by anything and there is no assurance that could guarantee the deposit of people. I'm afraid, I share their view in this regard because if anything bad starts happening, there will be panic withdrawal of money and it will get to the extent that the money will not be able to be withdrawn anymore and it might be gone forever if there's nothing backing it up, not even a legal agreement.

Still, stocks and shares that we buy to keep are not so much different from this. As Bitcoin is being sustained by people's money, such as stocks/shares are being sustained by it too. And the risk in Bitcoin is being reduced daily as the market gets more liquidity and I don't see any foreseeable collapse of the coin in decades.

Not only in Bangladesh, in most countries around the world, Bank discourage people to put their money on Bitcoin because their business rely on the local fiat value, and local economic growth. Bank will encourage people to invest in local stock market and other conventional investment, to maintain their local economy so Bank can keep their business grow,

Good old price drop FUD. “What if everybody withdraws their money? What if the prices drop?” Don’t they ever get bored? Like this hasn’t happened before? Btc prices fell down by 80% many times in the past. Did bitcoin die? No. What makes these bozos think next time will be different? It won’t. Prices will go up and then down and then up… That’s how free markets work. Look at the price of gold, it can’t move either way. This shit is boring. Hopefully bitcoin will never be like gold.

That's what they want people to feel since they always like those people to invest on stock market so that it can gather more huge cashflow and that could give them huge benefits. The only thing we can do for that is to ignore and do some research since if we let ourselves  being unaware about their methods done and always listen to them then we might be a easy target for manipulating. People on crypto know what they are dealing and for sure majority is already preferred on worst or good condition since they experience to go to that process.

I may still be more careful but I don't let any opinion coming from different or random people to disturb on what I currently doing. We must do a research so that don't became a easy target for them.

First, here's a real life analogy. Just days ago, there was a nationwide transport strike here conducted by jeepney operators and drivers. The main reason is the transport modernization plan of the government in which the franchise of these old jeepneys shall not be renewed. They disagreed, of course.

This is basically what it's all about. My country's central bank governor has the same sentiment about Bitcoin. He labels it as something based on the greater fool theory. But are we going to ask the opinion of a central bank governor about Bitcoin? Surely, we won't ask the opinion of the printing press about online newspapers, publications, eBooks, and the like, just as we don't ask the opinion of a traditional rickshaw operator on taxicabs.

Their job is to scare us, but my life and my entire economy do not depend on them. Every decision is my right and control. They don't want us to achieve true freedom, which is why government economists keep advising the public not to touch Bitcoin, and stick to fiat and controlled assets. Once again their methods no longer have any effect at this point. People already know how to invest, know the risks and don't care as long as economists don't demand everything they need.

So do you still want to say be careful even though we already know the depravity they have committed all this time? it seems like they don't want us to be rich

Yes, you must be careful when trading in Bitcoin because trading is very high risk for people who do not have sufficient experience in trading, but investing in Bitcoin in the long term is very safe, and it is also very profitable.

Not only the Bangladesh Bank, but all banks warn against investing in Bitcoin. You should not take banks’ warnings seriously, because banks are centralized and hate everything decentralized. Bitcoin is completely against banks, so you will not find any bank that encourages you to invest in Bitcoin.

Do you know why most of these things are being said about Bitcoin?

1. Government controls the money supply and they are also manipulating the value of the currency... so that is why Fiat currencies are so stable.

2. The Bitcoin price are based on real market influences and it is not manipulated by governments. Yes, there might still be some Bitcoin whales that has the ability to influence the price, but they are getting less.

3. The so-called Economists are educated by old schooled professors and outdated academic curriculums, which does not even educate people about Crypto currencies.   

Does it look like BitCoin will collapse quickly now? and why should we be surprised, that means he is also a player. If he wasn't a player, I don't think he would want to do that.

For those who haven't experienced it and want to invest in BTC, I think it still makes sense not to do things like the above which are considered strange, why would someone sell a car and other important assets just to buy 1 BTC.

bitcoin is in circulation you technically can’t withdraw bitcoin you can only sell it and as long as there are those willing to buy you can always sell your bitcoin

i’d like to think that investing in bitcoin is all about timing you need to buy earlier than most because if they see many people taking interest they would also want to buy and that’s when the price goes up in which if you bought bitcoin in its low price then this is the time you’re gonna get profit

Are there really expert economists in our world today…
Then why is the finance of almost every nation in so much shit! Inflation here and there with the citizens been left to suffer.
What role are they really playing to mitigate what is been done already and avoid further future occurrences.
Why did Bitcoin suddenly became the focus of expert economists and why is a shift from it the best solution?

These are just words of a people who have been so deep in the centralized system that, anything outside its grasps is considered yo be doomed to fail. I guess they never saw Bitcoin making this milestone and it did and as much as they continue to project these doom hypothesis, they will as well wait on it yo materialize but never get to witness it happen.

Don’t wait on no one to advise you differently. Get your perspective and decided today on how yo ho about safe guarding your future through investment and what have you. Experts in Economics aren’t experts in Bitcoin or decentralization.

Economists generally favor stability and predictability in financial markets, because these conditions promote economic growth and investor confidence. The fluctuations of bitcoin's price can cause uncertainty and anxiety among investors, leading to panic selling and market crashes.

Economist see a controlled market with stable prices is more conducive to economic stability and sustainable growth. Sudden price swings can disrupt economic activity and erode investors confidence. Economists concern about the potential for bitcoin to become a harbor for speculative investments, rather than a genuine medium of exchange. When bitcoin's value is perceived as being driven primarily by speculation, it can lead to bubbles and market crashes.

There is nothing like recently come to the limelight, bitcoin has been on the light many years ago, it's just that there are some fraction of bitter souls who don't like see bitcoin do well in life. If not that some bad guys don't leave bitcoin alone with the bad intentions to hurt fellow bitcoiners and only for it to affect bitcoin to fall down. In addition, we have not set a new high repeatedly, last year was the last time we crossed all time high and since then we are yet to set another all time high but anytime after the bi halving.


What e exact, and make the money was directly  wit him but he didn't miss name  because he is busy type of person. The Central banks know that more about bitcoin and seems even people love it more but the banks don't want to listen to people again and with such eye indications, he might like the one was unable to like banking result but bitcoin is always ahead of any coin, now tell me why you will not invest to bitcoin.

Red means danger zone. When I saw the red caption of the thread I was afraid, because the red colour means danger and with the bolded  colour scared me. The economic experts have not solved the economic problems in the world but they can only foresaw the problems but can not solve the problems in the economic sector in the whole world. The economist also know that bitcoin price does not go up on it own but the demand and supply in the market making it to be like that. And the more people are interested to buy the more the price goes up.

Yes we like it as nobody control bitcoin because the fiat currency which has authority to control has no value and making the original citizens to be continues poor.

This is %100 old news, and once again a spam thread. Bitcoin has been quite "stable" compared to the past, sure it still has %60 drops and %100 increases, but it doesn't have %90+ drops and x50 increases anymore. Plus, if it is volatile then it is volatile, we are taking that risk and to be fair we are doing it by knowing what we are getting into as well, its not really an issue for us. I understand some people may fear the situation, but that doesn't mean that we can't do what we want with it. I mean we have seen fiat so far and how that ruined peoples lives so not like people could convince us by saying "don't go into bitcoin" by showing something else, they all suck, bitcoin is honest about the volatility at least.

he fears that he may not be able to make money if everyone sells while he bought the BTC at a high price. economist wants the price to be stable like it's a controlled market. so yeah it's understandable that economists are afraid. investors losing money after investing in an asset they think would make them profit is a disaster. but this is if they think about the value in USD but if they think about how much satoshi they hold still, nothing is lost but the value in USD.

Does this mean that fiat is safe to invest despite of its depreciating value? Otherwise, this kind of post is just nothing but a duplicate, trying to discourage everyone from trusting bitcoin simply because it's a threat to fiat and the government is not supporting it because they can never control bitcoin transactions, unlike fiat that they have the full authority to navigate it whenever they want.

Economists are government allies so as much as they want to cover up fiat, the more that they are task to make people believe that bitcoin is dangerous and not a safe currency. At the end of the day, it's the people's decision whether they will invest and take risk with bitcoin, or they will simply abide whatever the government imposed them to do so.

Volatility is an inherent character of bitcoin, That's a factor that contributes to the long-term growth potential. The up and down cycles of Bitcoin have been a source of both excitement and concern for investors, but they also provide balance supply and demand, preventing the price from becoming too inflated or too deflated.

The history of bitcoin suggests that all-time highs are followed by periods of correction, but these corrections have always been followed by renewed growth. This pattern suggests that the next increasing price could push the price to the new high. Of course, past performance is not necessarily indicative of future results, and there are no guarantees that bitcoin will continue to appreciate in value.

volatile is one of the habits that Bitcoin can not do without that is what creates a balance so to some extent the fall and rise are important and the next bull run of all time will or might hit 100k or more since there is always an increase in all-time high definitely there will be an increase on this, from the explanation give started from 20k and the 70k then the next will also be huge, with this self you should know that holding and having patience is just the best.


The recommendations given are good because if you look at what has happened in past years it will be a good thing, and left to me the risk is what is taking because when the time comes when people are cashing out you will also cash out and when people are talking stories about their cashing out you will also have a story to tell how you benefited.

in which 15 month period did the price go from $100-$19k (rhetorical sarcasm of 'it didnt happen')
whomever the economist is that said this. needs to be fired and have his certification removed, and then taken back to kindergarten to learn basic maths and how to read a calendar

How many people have so many opinions. These are expert recommendations, anyway, the final choice will be made by the person himself. there are risks everywhere, but still I think it is necessary to enter bitcoin only for those funds that are ready to lose. I am surprised to read people who sell cars, apartments for this, so everyone has their own opinion on this

I don't think anyone should take these people serious again, when it comes to Bitcoin adoption; we have left the level of denial and reach the level of if you can't beat them then join them, if there is any issue with Bitcoin they all these big moneys won't be filing for ETF up and down and most people believe it is just a matter of when the Bitcoin ETF is approved, you don't want to miss this golden opportunity to be part of this big moment

Bitcoin is a highly volatile market.
The Bitcoin price All time high is near 70k$. I think no one is expected about price. Because the previous all time high is 20k$. Now, what is the next all time high, target?. No one know about it. But Bitcoin is being popular day by day. So, must hold some Bitcoin in your wallet. Because it will give you massive profit in the upcoming years.

It needs to be explained why it will be dangerous when people withdraw in the market and isn't that a natural process that occurs because there is a buying and selling process. Their job is always to remind them according to the theory they have learned, but in this case I don't understand. Do they study the supply and demand process?

Matters related to the economy will always give rise to a level of competition, whether in the process of decline or increase, and we are used to seeing this activity in Bitcoin. The price of bitcoin also cannot be controlled just because one or two bad events occur so economic theory may have to be looked at in the context of supply and demand.

Finally they answered the question they explained and the goal is clear so that people do not invest in bitcoin for the reason that bitcoin is not an official currency. My question is, what if we asked that stupid economist about El Salvador?

Your remark regarding Bitcoin's potential as a success factor and its connection with monetary criteria is well noted. True, Bitcoin has proved utility and is used as a store of value by many people. However, analysts are concerned about the bitcoin market's inherent volatility and lack of governmental control. While the recent increase in the value of Bitcoin has been amazing, it has also sparked worries about the quick and sometimes inexplicable oscillations. Economists frequently highlight the necessity of a stable currency, and Bitcoin's vulnerability to abrupt market fluctuations might offer hazards, particularly for newcomers.

Clearly, the economist didn't speak in general terms  of cryptocurrency, because as Bitcoin is, it is a kind of cryptocurrency among others that are existing and still coming up. It should make any sane person who has an interest in crypto currency especially Bitcoin question his motives.

It is quite agreed that the price increase of Bitcoin makes it harder for some to invest in it, still it is a point to note that it is a decentralized money and the market can crash any time, but why BTC stands out is because of its long time existence and more stable nature as compared to other cryptos that is easily affected by market volatilities such as whale movements and trends.

Why do economists advise to be careful when trading Bitcoin currency because there are many mistakes made by beginners, especially if they are advanced, perhaps economists will say that BTC is one of the keys to success, at least Bitcoin fulfills five of the seven requirements as money and enters the good category. money.

Currently, there are still many who do not agree with BTC with various arguments. Bitcoin's value remains as long as users believe in using it and accept it as a means of payment even though the price is very fluctuating.
     

I guess that he fears that he will not be able to control Bitcoin as he can control fiat. If they are not able to control money they will not be able to have so much control of people...

We have been seeing this & similar headlines for years, and Bitcoin is still here, getting stronger every year. I can just repeat what we have been saying here on the forum for years, these kinds of headlines are just announce that the bull run is very close.

This could indeed happen in the bitcoin market. However, the chances of that happening in my opinion are currently very small. Because after all, most bitcoin investors definitely know that bitcoin has clear habits every year that make it easier for investors to start every step of the way. Starting from the buy, hold and sell phases. So if it were not for news or events that could affect Bitcoin, it is unlikely that many Bitcoin investors would suddenly withdraw their funds from the market.

Well I think that is one of the bubble stories of the early days of bitcoin and bitcoiners have well closed their eyes to that because nothing of such has happened after a decade and counting of the existence of bitcoin. More so is that the fact that bitcoin is not controlled by a government but by the people through Blockchain and its transactional transparency, then more people have hope in bitcoin investment. About pulling the rug of investors feet, I think the incident of the bear in 2018, 2019 to early 2020, during the covid that bitcoin went down to around 3,500, is already a testimony. The ATH and current price is enough to prove that after the bear season come the bull season. It is a circle, understand it and enjoy the ride.

Well, what else do we expect from those who simply do not support the existence of bitcoin. Of course, they will try to attack bitcoin as much as they want because they don't see it as a legal and real currency, but often a tool for scammers and criminals. But despite of those accusations, bitcoin even surge high and now its price has become even more risky to invest because of its highly, expensive price.

That is why despite of its high profitability, we are still advised to invest with caution and do a lot of research before deciding to invest in a high risk asset. Always invest an amount that you can afford to lose, that way you'll be safe from the inevitable losses that appears in the market.

When it comes to long-term investment, Bitcoin is really one of the most proven and tested. But that doesn't mean it doesn't have risk; of course it still has risk; we know it's a volatile asset. It's just that because what we're going to do here is long-term, we should just be patient and not impatient.

Now, whatever you said on this topic, of course, it still remains your assumption. But anyway, for sure, the price of Bitcoin will really rise in the market, especially since we are approaching the halving and bull run next year.

Bitcoin is the best currency to invest in it stands at the top of all currencies trading is not possible if there is no capital needed for trading. There is considerable volatility in the bitcoin market which provides various opportunities for profit. There are a few reasons why traders should consider bitcoin trading as easy as it is to access the cryptocurrency market and trade bitcoins traders must understand that some basic knowledge skills and experience are required to start trading. Understanding market movements requires focus not only on major trends try to understand the market better by practicing trading.

Economists say things like that to scare people. Everything has risks, in any case. But if they learn more, they can definitely handle the risks well. This is why, if people want to invest or trade in crypto, they should use the money they can afford. Don't do it with a lot of money if you can't afford it.

Someone who is tempted to make big profits in a short time will use a lot of money. They become greedy and forget only to spend the money they can afford. It's better not to listen to what the economist says seriously and it's better to learn more about crypto.

If a person only receives information from others without studying the information, they may receive wrong information. He will not see that the information is actually wrong. That's why he had to look for other information to find out the truth. Likewise, if you read or hear someone say about crypto. You have to look for other information for comparison. The more you learn, the more you gain.

Economists are always going to advise against Bitcoin investment because they didn’t get taught about it at school. Most of them are still stuck in the 80’s thinking Wall St is the only way to go. Just look at the facts, since 2009 when the first block was mined, there has been no better investment than Bitcoin & I expect that to continue for decades. Bitcoin is a must have for any investor.

Sorry to say this can't work anymore, if you believe in what you are sharing you are on your own, they are trying to strike fear in the mind of people to make them sell their Bitcoin, it was harder to see the future of Bitcoin when it was $100, I believe that Bitcoin have already fought the toughest battle and it won, if survived this long and now the institutional want every bit of Bitcoin, ETFs are on the verge of getting approvals, if Bitcoin was a joke all along it's decentralization would have failed, this part never failed me and Bitcoin is the problem solver of all these centralized problems, it's not hard to see unless you are blind.

It's 2023, I don't expect anyone to still have this type of mind set about Bitcoin, the worst times are already over, Bitcoin could have been stopped when it was new, people only need to ignore and not accumulate then it won't grow, Bitcoin is the real people's coin, I understand it's existence and it is solving the issue I have with the government and the Bank.

Tip: Next time always drop the link to whatever you are planning to talk about if you aren't the original person that crafted the story.

You didn't drop a link to enable us to read the details of the information. Who are these economists? Want are their track records? How did they conclude that investors will suddenly withdraw all they have put in? Even if they sell it, other investors will still buy the coin. Bitcoin has gone through the process of buying and selling for many years and the system has never collapsed. I suspect that these are armchair economists who want to promote FUD.


This is not the first time central banks are issued such a warning. They are just scared of the decentralized nature of Bitcoin and want to promote fake news about the coin. The use of Bitcoin has kept increasing in my country even when the government restricts its use and discourages people from using it. Bitcoin has proved to be a hedge against inflation and offers better payment options which is why people will keep embracing it regardless of these attacks.

If you're going for trading, first think about the means and ways you have used to earned or gather that financial funds assigned for that purpose, when you realized all you've been through to earn such, you wouldn't want to enter into trading like as if you're gambling, because any chance of making mistakes will results to making a huge loss on your trading capital, you must understand the pattern of bitcoin market price moves and use the chart to make the required speculations to give you some level of accurate research.

The only thing that poses a real threat, to the country, is the loss of control of citizens' incomes, and the difficulty of "getting into their pockets, by a caring government".
The only thing they are right about is that the volatility of cryptocurrency, can not only generate additional income, but also the loss of assets invested in cryptocurrency ! Citizens of the country should be informed about this, familiarized with the risks, and take the risks on themselves, so that then do not run and do not demand from the state to save them from their own ill-considered steps.  Cryptocurrency is not a fraudulent scheme, but it is a specific market, with the possibility of manipulation and speculation, and this should be taken into account if you want to "make money on crypto"

Bitcoin did not recently come into limelight, it has been in it from when it crossed the $1,000 mark.

Want some rookie advice; so called experts rarely are experts at all.
Another advice you do not have to use larger fonts or brighter colours to get attention.

We can actually read what you have written even if you don't use the red and blue colors and the massive font size. As newbie, please take note of this as it makes your topic a bit stressful to read and comment on.

Bitcoin is a threat to central banks and other financial institutions. Therefore it is no surprise to see the backlash coming from them. Although, I understand that there is a huge risks that follows investing and Bitcoin and those you venture into it must read and thoroughly do their home, yet in the last decade Bitcoin has been one of the best performing assets that there is.

If you're familiar with economists' advice, you'll know that they always tell you to be strict with your finances and save your money so you don't have to spend it. Some of these economists would even advise you not to invest your money because they are afraid you will lose it particularly when they don't have much idea about the platform or when there are associated risks.

Nonetheless, these guys have forgotten the risk of being an investor, or, more broadly, of being a living person. They overlooked the notion that we must make difficult decisions in order to be able to freely make life-changing decisions.

My thoughts on this are, I may not be so accurate but, before investing in Bitcoin, it is most preferable for a person to analyse the market trend for that period and then look at what most effective approach to take, which might be dollar cost averaging in some circumstances, particularly if the person is a beginner. However, advising people not to trade or invest in Bitcoin because of the risks or volatility associated with it is not a good idea.

People have repeatedly withdrawn from this market on several occasions, as they find the economic situation pressing. This is no longer about making a profit, but how to survive because their financial level no longer helps.

If you ask about how safe Bitcoin transactions are, I will answer "quite safe" because so far I have never had problems with Bitcoin transactions. And if you say about the Bitcoin currency that has received the attention of many people recently, it seems like you are the only one who has just realized this because the attention of many people for Bitcoin has been going on for a long time and is even present every year. So don't brag if you yourself only realized this now.

It seems you forgot to ask about the year of price increase that he mentioned, because for more than ten years Bitcoin has experienced several price increases which are still happening to this day. So not only recently, but in the past it has also happened after the pandemic so you still need to ask the person who said that about what year this price occurred.

I want to know which person you are referring to? If there are many people who withdraw from the market, it means that they have profited enough and will enter again when market conditions become more favorable for them. Because Bitcoin has been on the market for more than ten years with quite a lot of traders and users and they all still continue to like Bitcoin because they have experienced clearer and more tangible proof of profit. So I want to know which people will be dangerous as well as who will withdraw from the market?

If you feel afraid because there are economists who say that about Bitcoin, you don't need to be too close to Bitcoin because Bitcoin will only be approached by brave people and also by people who already believe in Bitcoin's potential. So you also don't need to bother to heed the warning from the economist and tell him also that don't bother to think about authority and control of the money that goes into Bitcoin if he himself doesn't like Bitcoin and doesn't know about Bitcoin completely.

It's really funny, mate. If you have more time to deal with the Bangladesh Bank, please tell them to shut up and don't look at Bitcoin or care about Bitcoin if they are still very afraid of Bitcoin for reasons like that. Bitcoin also won't collapse if for example they don't believe in Bitcoin and one question from me to you is also "When did you find out and recognize Bitcoin?" If on October 27, 2023 you know Bitcoin, it looks like you should have more time to read and study Bitcoin without having to panic like this, mate.

Hahaha which experts are you talking about? Economists are strict because they don't want people to be free with their finances. Therefore, it is the job of the economists you are talking about to scare Bitcoin holders and buyers. After all, Bitcoin has been around for quite a long time and has not only recently attracted attention. Since the first time Bitcoin touched the ATH, real estate economists began to worry that the decline in paper money was increasingly losing trust. So there is no need to be reminded that our decision to invest in Bitcoin is indeed the financial method we want where complete freedom of our rights is truly legally and solely controlled. Returning to the economists you talked about above, their concerns will get bigger whether they like it or not, this will definitely happen.

Bitcoin is essentially a geocurrency that is managed through blockchain technology. Bitcoin is basically a cyber currency, which is not controlled by any one country or government. Many experts on this matter believe that Bitcoin exchange can have adverse effects and may be misleading or side-tracking according to experts. Bitcoin's value has fluctuated greatly since its inception. It's only natural that the more people know you, the more criticism you'll get, and it's the same with Bitcoin. Bitcoin is a difficult technology. People of Bangladesh have very little idea about this kind of technology in Bitcoin. Lack of awareness in all these countries, people in all these countries have been cheated by investing in various MLM companies. Therefore advanced technology like Bitcoin does not want to be recognized by the government of that country. I believe Bitcoin exists and will exist in the future.

Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin. However, many experts are warning about this.

➤ How safe are Bitcoin transactions?


Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.