How many people have been panic selling? I didn't. - page 11.

adzino

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

I don't really think this drop has been caused by a small "individuals" or "whales" like you are assuming. A domino affect has just taken place. When people holding their bitcoin started to see the price of the coin fall a little bit, they started to panic thinking that the price will fall even further more like the stock market. Thus, when the price started to fall, more people started to sell causing even further drop and panic among the holders. This small amount of selling together caused a huge impact on the market.
Don't worry, this isn't going to be a permanent thing. People will start taking advantage of the drop and start investing as much as they can causing the price rise back to where it was.

YOSHIE

legendary

Activity: 2128

Merit: 1775

If you don't have a problem with what's happening so far why are you in a hurry to sell Bitcoin, I'm sure all of this will pass soon, Bitcoin will have its heyday again.

At a time like this someone, can judge themselves from patience, from the beginning many have talked about that investment must have patience, Don't panic, what's happening all this time, of course, I'm sure that one day Bitcoin will bounce back.

Pffrt

sr. member

Activity: 1372

Merit: 322

I didn't sell either. It was a surprise to see such price decrease within very little time. I was surprised who are the guy selling BTC at $5000, sure they are the noob who get into the market at ATH and sell at the capitulation era. Despite this, the main reason to the price decrease was manipulation which is now more clear with the Bitmex issue.

Darker45

legendary

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Merit: 1860

Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

I am proud to say that I am a strong HODLer. Well, I also do swing trades at times but the largest portion of my Bitcoin holdings is in my hardware wallet which is not even imported to another hot wallet. I may not have much Bitcoin in my wallet but if everybody is just believing in the idea and in its future and is HODLing tightly to their Bitcoins however small they are, this kind of fall will be somehow mitigated. I think the fall was somehow aggravated by weak hands and sheeps.

jakelyson

legendary

Activity: 2240

Merit: 1069

I was asleep when all this panic selling was happening. When I checked the price, it is already at 5K. I have no time to react at all.

I have positions to buy at sub 7000, so all those positions were hit. Bad time for me to be away from my computer. I could have moved my buy positions at a lower price if I was active.

Anyway, everyone has their own reasons for their actions. I will try to take advantage of this situation, what's your move?

The Sceptical Chymist

legendary

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No, I definitely didn't sell any bitcoin since the coronavirus slaughter, but obviously a ton of people did. I'm pretty sure it wasn't just whales, either. They're the ones who can probably afford to take such a massive loss, but I bet a lot of smaller margin traders got wiped out and didn't have a choice but to sell.

Anyway, you're never going to make any money if you sell when everyone else is selling--that should be obvious, and I also doubt there are going to be many people coming to this thread and admitting they made such a noob mistake. These past few days have been an awesome buying opportunity if nothing else. Hopefully the smart money realized that and snapped up as much cheap crypto as possible. Like I said in other threads, I'm broke and haven't been able to take advantage of this situation. I think that's the last time I'm going to write that, as I get depressed every time I think about it.

Wexnident

hero member

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Wouldn't blame them tbh. There are different mindsets and situations that revolve around each and every trader after all. Some may even just be hodling BTC with their own money and tbh, seeing it go down like this hurts you right at the core. Some may not even know what it means to actually hodl. Some may even actually feel the fear instead of the masses friggin hoardin just about everything like canned goods, sanitizers, tissue papers, etc, etc. Still, most who pulled out are probably people influenced by fear or are just people who got pushed by the wave of fear called corona, hence, the need to convert and spend even their own savings to satisfy the overreactions of their families/friends.

Assface16678

full member

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Quote from: fiulpro on March 14, 2020, 03:58:49 AM

Unfortunately when you are in a Quarantine and people are buying ridiculous amount of good example toilet paper , you gotta stock up when you can because honestly telling you in a Quarantine life is crazy , you are not really sure what you gonna be getting next.
The government is trying to help but at the end of the day , there is a limit to what they can do.
So I didn't panic sell.
I did sell them accordingly so that I can buy goods for the family , because you know man prices are double for some products.

There are a lot of people today are starting to have a panic selling and most of them are selling their cryptocurrency because they need to make some funds to buy all the things they need like foods, clothes and more that they need to survive because of the outbreak happening for over the world right now also there are some people use their money to buy a lot of things just to make sure they can survive. I did not make panic selling too because I immediately have a lot of supply of foods and other things I need in my house it is better to be always ready because we are avoiding this kind of virus spreading also to avoid this infect us it is better to always wash your hands and avoid contact for a while. Also, stop having panic selling so the other people can survive too.

fiulpro

hero member

Activity: 1890

Merit: 831

Unfortunately when you are in a Quarantine and people are buying ridiculous amount of good example toilet paper , you gotta stock up when you can because honestly telling you in a Quarantine life is crazy , you are not really sure what you gonna be getting next.
The government is trying to help but at the end of the day , there is a limit to what they can do.
So I didn't panic sell.
I did sell them accordingly so that I can buy goods for the family , because you know man prices are double for some products.

Broly46

full member

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0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

I’m all but prepping for the worst, I think people are rushing to buy ramen, toilet paper, water, ammo, gun, canned foods, gold, face mask, they dump stock market for five consecutive trading days, and trigger twice circuit breakers that go through -2000 index point dumping, gold too get dump along with bitcoin, I have a mixed feeling how that work, may be some people having sweet agony to the pain to the point of bending from the left to the right.

ADamien

brand new

Activity: 0

Merit: 0

I didn't sale a single satoshi too. Phenomena of panic selling is something among newbies.

crwth

copper member

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It has always been a case to case basis, you know.

For example:
Friend A: Needs the money for the hospital bills

Sell now because the need for the instant
This person wants to have to sell at the best price so it's either he is thankful that he sold a few weeks ago when BTC was $8000-$9000 rather than today

Friend B: Has extra income to invest in BTC

Just keeps on HODLing
No emergency needed

Anyways, what I'm trying to say is that it's always going to be in case to case. So for me, I didn't sell a BTC too because I didn't need to but if I ever have the need for money, whether it's for bills, necessities, etc, I would sell it.

imstillthebest

full member

Activity: 1638

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the decline was big so i assume its cause by big people too like whales . small individuals can only have a small impact on the price .

what you felt thier is also normal . experienced and veteran cryptoers do also feel anxious because the crash was pretty huge and i think it was my first time to experience a crash like this from my 2 years of stay on crypto but im aware that crypto prices on the past have a small value smaller than what we have right now , i used it as a hope to not give up .

davis196

hero member

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Merit: 937

Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

I didn't sell any BTC too.We all know what's the cause of this nosedive price crash and we all know it's temporary.
What makes you think that the crash is caused by small number of people?Any evidence?
I think the price crash was caused by a large amount of traders selling BTC really fast,and a total lack of BTC buyers.Perhaps some crypto whale sold his BTC as well.That's how every market works.
Wall Street isn't different.
Just HODL all your BTC and don't read any clickbait news and you'll be fine.

yahoo62278

legendary

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Why panic sell? If you truly believe in bitcoin then you know that bitcoin will rise above the current market price fairly fast. No reason to sell everything and take a loss. I sell a little here and there when I need to pay a bill or something, but in no way would I just cash out below 6k.

countryfree

legendary

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Merit: 1047

Your country may be your worst enemy

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

Topic: How many people have been panic selling? I didn't. - page 11. (Read 2096 times)