Topic: imagine say Bitcoin crash what nest? - page 2. (Read 368 times)

Another post that the title contradicts the contents, OP next time you're creating a post, be sure to synchronize the title and the contents properly to increase its quality.
Back to your contents, this world is full of uncertainties, so you don't put all your eggs in one basket. Bitcoin investment is very good, but diversification is much better. What do I mean by this?, as an investor, you plunge your money into different ventures to reduce the risks of losing all your capital in the event of liquidation of one. Every business is risky and bitcoin investment its not left out of this contemplation, but your ability to separate your eggs in more good baskets (I don't mean shitcoins) creates a better chance of survival, in case of the unknown.

Most people you see here are real estate investors, Agriculturists, web developers (like myself), doctors, teachers and many other valid professionals who incorporated bitcoin into our lives and not that our living depends on it. So if what you say comes true and bitcoin crashes today, life continues and we focus on other things to survive. I don't see bitcoin crashing anytime soon, its potentials and modus operandi will keep it competitive for a longer time, instead I visualize mass adoption and great increase in value for our dear bitcoin.

I just dey thank God say na imagination and not in real life. Op one thing u need to know before creating thread like dis is for u to understand di functionalities of bitcoin so that you no go imagine again. Oya look. Bitcoin na money and asfaras  our country money dey exist bitcoin sef go exist. You can use bitcoin to buy things and sell things so bitcoin e no go crash but the total suply is limited to only 21 million and even at that before that figure go finished na years to come.

And people dey invest in bitcoin because the store in value. Bitcoin no go crash and it has come to be.

It’s normal for bitcoin to crash now, but if bitcoin crash e no mean say bitcoin no go bounce back, if you have patience and you can hold, then it will bounce back with time. But maybe Wetin u dey talk about na if bitcoin die, and me I go tell u say I no dey sure say bitcoin fit die, bitcoin don dey since 2009, plenty people don try to silent bitcoin since then but as we can see bitcoin is getting more popularity, even without advertisements from anyone or from any company, bitcoin is still growing, so make u know say bitcoin no fit die, highest wey bitcoin fit do na to crash, and if e crash, e go still bounce back.

Even if bitcoin is not going to crash or die, why should you depend on only bitcoin, you suppose get other source of income now, if you invest in bitcoin, and you no get other ways wey u go dey use make money,  Wetin you go dey use to sustain yourself now, if you don’t have other source of income, you can’t hold bitcoin for long term, because whenever you have problem, you won’t have choice than to sell your bitcoin to solve the problem, but if you get another source of income, your mind no go dey ur bitcoin investment.

I really understand wetin you dey talk, person no suppose put hand for one thing, before bitcoin come into existence other means dey wey people dey use make money so even if bitcoin crash people will still survive, even now no be everybody dey benefit from bitcoin and they're doing well, no be must to accept bitcoin. Nothing last forever so I can't tell for bitcoin now, as a bitcoin investor the only thing wey you go focus now na how to benefit from the volatility market.
This example wey you set now dey common for oil companies like shell, etc and I don't know why. It's best for people to have a plan b when it comes to making money

In the aspect of investment, investing your money only in one stuff is not a good idea, diversification is good but it should be in a business or real estate, puting all you have in one stuff is not good, but the thing is, I dont see Bitcoin crashing because of the technology behind it's existence, bitcoin has been known by many folks, there are many people that hold a large sum of this digital currency, infact I will even say that they are the ones that are making this currency more popular and acceptable by many, do you know that the statistics of hodlers encourages new investors, this will make more people to understand that the creation of this innovation was laid on the solid system, to me the worst that can happen to this currency is the downward price moment and nothing else.

I did entertained this fear too although I didn't welcome it to occupy a place in my mind reason been that bitcoin is not tied to binance, binance is just an exchange like every other centralized exchanges that have existed before it despite it position as a leading centralized crypto exchanger.

The cryptocurrencies that would have been affected to dump significantly had binance fallen would have been cryptocurrencies that are tied to the binance. Mind you, binance isn't the only existing CEX, another would have taken advantage and cover the leading position even much better. Binance is not irreplaceable.

There's a soaring level of expectations about the price of bitcoin as a result of the pending ETF approval and this expectations as to how high the price of bitcoin might shoot up to has attract many new investors with old investors stacking more than ever. But am not worried about the bitcoin spot ETF not being approved cause definitely all indications has shown that it will be approved. What I am worried about is what if the whole ETF stuff is just a hype, it get approved at the end of the waiting and bitcoin price didn't do well as people had expected that the ETF approval would make it do. (Am just trying to balance some probability questions).

Wetin you think sae go happen than people to continue to hodl their bitcoin as them don the hodl am already. By the way em get some people wey buy bitcoin when em be $60k-$69k around 2021 and them never sell am up till now because them believe sae bitcoin go everly reach ''$60k +" and go above am. No need for them to worry too much since we d anticipate bitcoin to reach $100k or more sef

I no think sae, this can be true.  So many people for the world no even know much about bitcoin talk more of depending on am for living. We sef wey dey into crypto already no even depend on am because of how volatile the market is. We get other source of income.

For person to depend on bitcoin, em wan put em self for high jump. Em no d advice for peso to do that kind thing.

E get people wey dey live without Bitcoin and if Bitcoin price crashes to zero we go still survive. That is why e good to dey assume say if wey thing dey gives you money stop to give you money how your life go be? When you don accumulate the quantity of Bitcoin wey you want to hold, make you try to diversify your investment so that your eggs are not in one basket. You can diversify your investment in something different from cryptocurrency such as real estate investment or selling a variety of merchandise, so that if one market fails, success in others will reduce the impact of failure.

We are use to the system of BTC decreeing and increasing which is the two things that is giving hodlers opportunity to sell to make a good profits, and is also giving investors the opportunity to buy when the price is low like the way it is now in the crypto market which, you can buy and hodl until the price of your choice come before you can release for sale. Do you think people will tell you their other investments because everybody is a suspect in this new generation we are today,  your best friend today can be your worse enemy tomorrow, so be careful the way you share your plan to strangers.

Many people in this Naija local board are into different businesses that is bringing them money daily, weekly and monthly that is not making them to be worry whenever the price of BTC crash than to continue investing in BTC because, they know that when the price increase higher tomorrow some thing double will come out from their investment.

Truth of the matter be say if bitcoin crash, na there you go see people wey dey talk say put what you can afford to risk, na dem go even cry pass because e no get anything like what you can afford to risk, money na money e go get how small e be, e go still pain you if you loss am anyhow. Beside every since we dey hear of DCA, abi the DCA way you dey do na N10 you dey put If this kind of thing happen na everybody e go pain na that time you go take understand the meaning of "little drops of water makes the might ocean"

People go cry, some go faint many fit even die but nothing changes say this na big possiblity and every one dey aware so life go continue as normal and many people sef already get many things wey dem dey go so Bitcoin no be all and all for person. Abi you don forget say change na constant for this life wey we come as the world has been existing before Bitcoin and people have been living and so will people continue to the next advancement and adapt to the changes wey dem around for the surrounding.

Is it actually true that majority of the world depends on bitcoin? I doubt, what really happens that people save there reserved west as bitcoin because of it volatility and due to the expectations that it value will increase in the future. Almost all the people that have invested in bitcoin have other things going on in their individual lives and if for any reason, although I don't even see any possibility at the moment, if anything goes wrong along he way, it will pain them for real but the will still do just fine because investing into bitcoin isn't a full time job that we can assume that it extinction will mean that people have lost there jobs or something like that.

The world continues, the end of Bitcoin no be the end of the world, nothing go last forever normally so even Bitcoin no go dey until the world end. The title of your posts dey different from the body of your post as for the title you dey talk like say make we no invest for bitcoin but the body, na advice for us to buy Bitcoin you dey try talk. Majority of the world aren't depending on Bitcoin, Bitcoin never get any better share of the economy of the world self so we still dey far from dominating or making people to depend on Bitcoin.

Where you fit say dey dependant on Bitcoin na that altcoin market as na Bitcoin dey control everything wey dey happen dat side.Your post dey reason us say make we dey diversify and nothing bad to dey run am like that. All of us here know say we no supposed dey put all our eggs for one basket so as we dey make profits for Bitcoin or get better cashout for our other businesses, e go make sense say we dey Invest for other businesses as well and me I go say make dem be physical so Incase anything happen online we fit dey get physical cash to dey use hold body.

This one wey you dey talk about miners so, sure say no be mistake wey you make as na Bitcoin investors wey you wan talk (e makes more sense for the sentence). Sha Irrespective of what you're doing make sure you always have a plan B Incase A no deliver you fit get something to fall back on.

Right in this platform already, one of the strong key words of advice especially to the newbies is that Bitcoin investors should diversify their investments and not just their trading portfolios.
These diversifications of investments is specifically a productive approach not to be triggered to temper with your coins while you are expecting a rise in the market to make better profit so you should also engage on other sources of income such as trading on other sectors considering either conventional trading, get employed or other online trading aside crypto at large.

You already answered that, the crash is minimal and it's not going to happen anytime soon, not today or tomorrow or the day after tomorrow because bitcoin isn't that usual investment people used to talk about. When it was around where it's not today, people has speculated the same thing but it's now even bigger than it was because Microstrategy have heavily invested billions into bitcoin, El Salvador did the same, Grayscale has done the same and now Blackrock are pushing for ETF spot.


What about the banks, did they have plan B? It's obvious they don't have anything, it's just empty promises and nothing more and they are still functioning today, thanks to the billions of papers that are been printed every just to suit their agenda and manipulations and they are alive till today. Bitcoin is bigger and will take another 100 years without having all these you are thinking, so relax and enjoy the moment.

I no really understand what you mean by crashing oh, but if I go understand your point, I really believe say you mean if incase Bitcoin by any means crash to price zero.
Guy, if incase that kind of thing happen, e no really mean anything to me because right from the very first beginning, I done put am for mind say "as Bitcoin investment dey risky if anything happens then I go take am like that's" besides, the amount of money way I dey invest with nah the amount way I go fit afford to risk.
Although, make we no put am for mind wether Bitcoin go crash anytime, no bro, with all these reputations way em done get, I know sure say Bitcoin go crash to price zero.
But if incase Bitcoin price drop so low like the way e been dey for the very first beginning or if e drop to $1000, guy I dey sure say that time go be one of the best opportunity for every Bitcoin lover to buy as much as they can afford.

Op if you mean the actual crashing as in, bitcoin no dey exist again like other shitcoin, e mean say the whole crypto market don die finish, because na bitcoin be the reason why other crypto dem dey exist. E just be like when na only you dey give your community light, the day wey you off generator, the whole community go dey for darkness, na so bitcoin just dey for the crypto world. Dem say, if you default dem go fit forgive you but the trust wey dem get go die or reduce to the lowest level. Bitcoin naim be the most trusted coin for the market, so any thing wey happen to that trust, go surly affect all other coins, many go crash instantly while some go try to hold on before dem follow crash. So if anything happen to bitcoin, I no sure say you dey even make this post go dey think of to make investment for another coin.

Definitely, no be everybody bin dey hope on Bitcoin alone as source of income because before the thing gain popularity, there were other things. Nothing lasts for ever but at the same time, nah how you lay your bed you go lie on top.
Bitcoin no go fit crash anytime soon but if e eventually crash, surely pipo go find other means of bringing in income but if I be you, I no carry that one bother myself now because wetin I sopoz dey reason nah how I go take benefit from the way Bitcoin price dey rise(that's if you never buy keep) as we don see say despite the challenges wey dey come e way (Bitcoin price) and as e be very volatile coin, e still stand strong dey continue to move in a positive trend.

There are few things that can cause the price of Bitcoin to dump prior to the halving. We just escaped one of them which is the issue of CZ, the CEO of Binance; I was thinking it will lead to a major dump in price since Binance is a leading exchange. Fortunately, the market did not care about that and continued to rise after a minor reaction.

Another thing that can lead to massive dump in price is the ETF application that is expected to be approved or rejected early next year. If the approval happens, then Bitcoin will rise rapidly. On the contrary, if the application is rejected, I expect the market to dump significantly.

If the price of Bitcoin dumps, the smart way to respond is to continue to buy more reason being that the Bitcoin halving that is happening next year will create enough awareness that will make price recover so fast from any dump. This means the market will not remain down for long before it rises again.

Wetin you mean by crashing? You mean say if the price dump abi if bitcoin crash and e no exist again?
If na the former you mean, na to keep d bitcoin make you no sell am because history don already show say bitcoin price go regain its value after e don face many market volatility which dey always result in loss of value of it.  
And for the later, just comot your mind for there because e no go even happen. Before something like dis fit happen, you suppose look if e go fit dey centralised first, if e no fit just comot your mind say anything like dat go happen.


Plan B na a must something and for anybody wey get sense and go fit look into wetin dey happen around am and how the world don become in side of financial sector. Plan B na better thing and anybody wey get am dey see the advantages of having the thing. E go always come through for you. Nobody pray say make anything happen to their investment or business but diversifying dem na him be d best to do.