Topic: imagine say Bitcoin crash what nest? (Read 371 times)

Whats your problem guys ?

Bitcoin is always crashing, and bullrunning.

Bitcoin is volatile, because life is volatime.

One day, the price is going up, the other day the price is going down.

If you are only noticing some arts for a few minutes, I do hope that you cant relate the big picture out of it.

Now, notice bitcoin since 10 years.

Yep, it has freaking gone up.

But news flash, it has freaking gone down too.

Whats wrong with you people ?

Bitcoin is not going to crash, so you better remove that thought from your mind. Let me ask you what is going to make bitcoin crash? Bitcoin is not a centralized coin that means it's the people that owns bitcoin. Many people have been enslaved with this idea that bitcoin was going to crash many years ago yet bitcoin is gradually approaching 2 decades. Thoughts like this are the reasons why many people has missed out on bitcoin from the early stage. It surprise me that people like you are still habouring the thoughts that bitcoin will crash. I only have one thing to tell you and that is "You guys will wait forever".

Of course, Bitcoin can easily crash means when the price fall, As a trader, you should already know that one day the coin definitely go down so it is always advisable to have a Plan B. And secondly you don’t need to invest all you have just invest what you can afford or even if a big amount, don’t take all your money and invest in bitcoin, because definitely not good  idea, you can just decide to be taking certain amount from your payment monthly or weekly and invest on bitcoin, because you should already know that it goes up and down.

I can't imagine bitcoin crashing. I am speaking in truth; bitcoin has no tendency to crash because it has undergone various tests from government agencies and online public figures who speak against it. If bitcoin has to crash, then it has to be the end of cryptocurrency because all the altcoins will follow suit, and that is bad. Now that we have seen various billionaire companies investing in cryptocurrency due to the approval of the bitcoin ETF,. Top companies like Reddit and so on have chosen to store there wealth in cryptocurrency, which is good for all of us who have invested in it. We should be confident that our investments are safe and will yield good returns.

Definitely you are right on this, any investor venturing into any investment should have other alternatives or profits made can channeled to other investments. Obviously it's a good idea to have a backup plan diversification is key as an investor to grow your profit and to avoid losing out totally.

On Bitcoin crash I don't see coming and I don't even think of it because the global massive adoption of bitcoin will definitely keep it going it has already set the pace for bitcoin to keep running so thinking of crash  will hinder anyone that want to invest. Bitcoin is stable and their are multitude trouping in on daily basis to invest so such venture can't crash because it's adopted Globally.

Bitcoin can't crash. Bitcoin is not an individual business. It is not controlled by anyone. The network has been established so no member or outsider can crash it. The day you as a person decides to leave bitcoin, that the day it ended for you,
The reason why it can't crash is based on the singular concept of decentralisation, which was the main aim of the founder(satoshi) nobody is in charged of the bitcoin ecosystem.
Assuming it's something that will crash, the lost would be  a global one. People would lost their hard earned money. Do you know how people have invested in bitcoin and have been earning livelihood from it?. Bitcoin crash would be tagged 'the world's calamity'.

  Bitcoin no go fit crash as e be say Bitcoin done already to this far for the whole world, you fit imagine am your own way but make I trll yiu the truth, bitcoin no go tir crash.
   One other strung feelings wey I get be say, no be anybody get am nai make Bitcoin go dey forever, like person dey always dey talk am say Bitcoin have come to stay, true true na so e be.
  Although the reason why make you dey imagine this kind of shit nah because say you never really understand the concept of Bitcoin, misconceptions just dey make you dey confuse.
   With this post I just know say you never get the proper know of Bitcoin nai make you go imagine like this, although this your op thread go make people teach you the kind of things them when you never know.

Guy abeg no put fear for people wey wan invest for bitcoin
 

First of all, bitcoin isn't a business. Secondly, it's not MMM, but I get, you said we should imagine, so, there are 2 ways of creating wealth.
Note: not 2 ways of making money...creating wealth.

And there are; investing in a business and investing in assets. Mind you, businesses are also assets ...the only difference is you work in your business until people begin to work for you, and that is the point where it becomes an asset...

Bitcoin is one of the many assets out there, but one with great potential and high interest, cause of its potential ability to take over the monetary system... but there are other valuable assets. There's land, gold, business, and many others....but if Bitcoin were to crash ...I would go for these 3.

Op your advice is good but the possibility of bitcoin crashing is slim, Bitcoin has gain much publicity and awareness more than any monetary investment and looking at it features people will always want to go into bitcoin investment because of it's profitable ability, bitcoin gives you peace of mind as an investment once you have it in your custodian wallet, you wait for a number of year's to reap your profit as a hodler.

I know for sure that many people don't solely depend on bitcoin because is just am investment although you make a lot of sense when you said one should have other hustling too that can fetch them money instead of depending on just one venture, there should be versatility in money making ventures to avoid being staged at a point.

bitcoin can't crash, it's possible that the value can drop at some point which is even good for those coming into the market but thinking about the possibility of Bitcoin crashing is not close to any reality at the moment.

But then, it's also good not to put all our eggs in one basket or to overly rely on one sector while working or investing for our future and I totally agree with you on that but trying to create a back up of investment options shouldn't push you to investing into unprofitable things that will end up scattering all your hard earned money into the air. If you've seen a good and reliable asset to invest in, it's best to concentrate there rather than trying everything that looks like an opportunity out.

At times, it’s hard to actually place what humans actually wants. Sometimes it’s good, it pushes you to check all the corners but, it’s just strange somehow.

When it booms, you get the idea of it’s only going to bloom so it could burst.
When, it dumps, you get the idea that it’s gradually been liquidated to nothing.

Meanwhile, Bitcoin has been known to have all these phases and still somehow surpassed it all.

So, what if it crashes?
Even in the phase of unbelief in the possibility, you would be so wrong to been completely dependent on Bitcoin for an investment or a stream of income. Even up to this day, one of the most preached advice is on how you should diversify your investments. Having more than one streams of income. I’m the event that one fails or isn’t doing so good, there are chances that you could have the other to fill up for you.

Be safe about your investment and think about not having all your eggs in one basket. It actually makes sense in this context!

The kind level bitcoin don get to the thing dey near impossible say it go just crash like that because this nah asset wey many influencial individuals and corporations from different parts of the world hold their money inside  as investment, even some government also get asset inside am worth billion of dollars in bitcoin, and you think all these people go just sit down make bitcoin crash just like that. More importantly, this no be currency wey any person the control but rather na demand and supply the control the price so no even think am cos no be ponzi scheme be this.

Some people still don't grasp what bitcoin is, which is why they believe it will crash. You are correct that bitcoin will not fall; he will simply drop the price and then increase it over time. Don't be thinking negative that bitcoin will crash because when he will crash, he should have crashed already and people will have noticed that he will crash, so bitcoin is permanently and he will continue increasing and decreasing every time and people will be making profit and some will be losing that is crypto you can't say all of you that invest will definitely get profit some will sell it before their goal is reached because something comes up or another thing that will make them sell there coin. op just read about bitcoin very well and try to understand it very well you will notice that bitcoin is real and he can't vanish thing the word don't exist anymore that is when you won't see bitcoin again.

That is why there is all time high and all time low. You invest in the all time low and sell in either the Bull Market or the all time high, and if you buy bitcoin bitcoin in the bull market and bitcoin crash then you will be a loser if you were planning to sell it in the All Time High. So whereby you can sell at that time before the crash take place then you are to continue the hodling until you meet the all time high again. But you fear to sell at the bear market nthe that is when byou became the automatic loser if the investment but if you keep hodling till the next ATH then you lose nothing.

Op I will tell you that bitcoin will not crash totally but can only reduce in price.

I no fit imagine that kind imagine because Bitcoin no fit crash although e go benefit our leaders dem because na their plan make since assuming say e dey possible for them na to comot anything wey dey answer Bitcoin for existence, they no won take ear hear say Bitcoin dey, because Bitcoin dey really help people especially as things be for our country like this, them dey happy to dey see people dey suffer so dey no want make people take dey benefit from Bitcoin because any body wey dey work dey earn for dollar don comot emself from poverty because our currency no fit reach us go anywhere, so God no go even gree make Bitcoin crash.

If Bitcoin coin crash no wahala because as a wuse person I believe say every Bitcoin person no go put their eggs for one basket, dat is, you no go face only bitcoin  as a source of livelihood dem spread their resources  to get more income so dat dem go fit grow, if e crash dem go continue life with other investment,na him make for the forum dem dey advice say make we get another source of income to support Bitcoin.

For a decade now we have never witnessed any bad record of bitcoin that leads to totally crashing whereby people won't recover their money or they won't have their bitcoin as it's again. What happened is that there is people who are into business that we don't know but you won't see them coming here to announce about their plans or having to share with anyone about their other businesses except for few people that are into content creation and they are using to gain audience and attract people to their youtube channels. The real people who are into business doesn't exposed their plans to people whom they think are not worth sharing with them, like you said if you have a Plan B within you there is no way any one of us here would know except you tell us here to know.

OP I just say make I imagine am sha but base on my imagination for the possibility of our Bitcoin to crash dey on the 0.1% cos normally e no go funny at all and the effect of Bitcoin crashing will be so tramatizing to investors and many big companies that uses Bitcoin, it will affect the economy of some countries that accepts Bitcoin usage or as legal tender.

In the aspect of having a back up business, to survive for this country no be to put mind for one place if not e go choke for neck.
I just believe say man get to dey work on the norms and still dey into any means of earning online through this our technology now many things dey wey person go do, after you come back from daily huzle u come relax, freshen up come sit down start to do your online business dey earn from both sides.

Yeah obviously you have a point because is just like a saying that he who put all his eggs in one basket is likely to start from square one if the basket falls because is obvious that all the eggs will be broken, so in as much as an investment may seem profiting the need to diversify to other investment is also very important because so many persons are going through a lot because of wrong planning.

However the way things are going now, the need to have other source of income is very important because even if you have invested on Bitcoin there should be a source were you are getting some money from because is obvious that some important needs that need urgent attention could arise and if perhaps you don't have other means of sorting it out it could make you sell off some of your Bitcoin with a discounted price.

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.

If the price of bitcoin decreases, just do not sell but hold it. The price will increase back and above the price that you bought it. All you just need is time to hold it and not sell.

From the money you are receiving weekly if you are working, investing like 30% on bitcoin is not bad. Yes, you can diversify.

The adoption still continues. If majority of the world invest in bitcoin, its price by now would have been over $1 million and its marketcap would worth trillions of dollars if I am not underestimating it, but I think I am still underestimating the price and marketcap.

we all know that Bitcoin is so broad that coming to crash is so minimal, but the big question is  what if it crash?

it is so obvious that majority of the world is totally dependable on Bitcoin.
but I think that in anything we do we should try as much as having a plan b, there is nothing wrong if we invest in other business as plan b.
for example I have seen most men who are international staffs in an oil companies taking a huge amount of money at every end of the month not knowing that nothing last forever more especially money.
so am on the opinion that every Bitcoin miner should have a plan b of investing in other business to avoid the story that touch.