In the past an year ago the price of bitcoin was going much better on upward direction and everyone was of the opinion that bitcoin is a decentralized currency and no one even the governments can harm it and it is in the control of the users and holders. If the holders will not sell at low then none of the world power can reduce its price. At that time I remember none of the bad news was having power to reduce the price of bitcoin. I remember when Russia banned bitcoin in their country and there was not any affect of it in bitcoin. But nowadays it became the mentality of the users of bitcoin that when any bad news come then the price will reduce so with any bad news they start to sell as faster as they can and in that way they dump the price too much.
During the December madness, there are a lot of
irrational buyers, those investors, usually newbies who really thinks that bitcoin will make them millionaires. That's why they keep buying at top price and even though there are negatives news coming around, it didn't have any significant dent because, investors keep pouring money into the ecosystem. And those that are selling in the last 3 months are those who invested in December. They got burned and murdered when the market suddenly when into bearish sentiment.
So today I decided to start a campaign to aware everyone that bitcoin is a decentralized currency and none of the bad news can harm its price unless we sell at low.
In this campaign we every user of bitcoin have to make this aim and have to promote it to everyone that we will not fear from any bad news and have to keep it in mind that we will not sell our coin when any bad news come.
Good initiative. actually I think most of the members are really fighting those FUD that is going around. Just go and look at the speculation thread, lots of thread saying that bitcoin is going to go down as low as $2000. LOL. Lot of doomsayers, but we have to fight back, inform everyone that this is just another bump along the way and eventually everything will fall into the right pieces and soon we will bounce back from this bearish trend.