I dont believe people are panic selling. The drop was very sharp and brutal, it happened in 15 minutes.
It was the action of a single bearwhale, or a group of bearwhales.
I believe it will happen again, maybe two times. First will make the price drop to $3000, and second to $1000.
This is what happens when you dont have regulations in the exchanges.
If the exchanges had built cartels, they could self-regulate themselves, stopping shortings after a certain margin, using mining rates as a base. Then, we would not see drops of more than 5% in a single month, whereas the price would be free to rise to whatever value. This would prompt adoption by merchants, which would boost bitcoin's reputation worldwide.
They also would be able to print tether at ease, without having to answer to the "community", which would boost the price even more. The price would be at 100k already.
Instead, they preferred to follow the path of freedom, which includes freedom (for the whales) to steal from small investors.
This is the price you pay for it.
Topic: Let's stop PANIC SELLING Bitcoin - page 2. (Read 287 times)
This time I think it will be a long panic sell on every market not just Bitcoin...every stock, every company are facing losses and it seems it won't stop here so regarding Bitcoin I'm looking for a 4k$ by the end of the month if this continues at the same levels like now.
It's sad to see every domain adopt panic and people are losing their comfort zone and start doing weird stuff.
It's sad to see every domain adopt panic and people are losing their comfort zone and start doing weird stuff.
I got shocked by what I saw today I thought the bottom price will be around $7k but the price drop lower than that.
This is not a panic selling the reason what I see here it's because of the Covid19. It is one of the big reasons why the price drops a lot.
People need money in order to buy stocks such as foods and any product to protect your self to Covid19 and to be able to survive for the long crisis.
I believe once this crisis is done we will see a huge price increase but right now life is important than holding Bitcoin.
This is not a panic selling the reason what I see here it's because of the Covid19. It is one of the big reasons why the price drops a lot.
People need money in order to buy stocks such as foods and any product to protect your self to Covid19 and to be able to survive for the long crisis.
I believe once this crisis is done we will see a huge price increase but right now life is important than holding Bitcoin.
I was shocked when I saw the price today. I understand that COVID-19 is hitting the economy and other things really hard right now, but there are objective reasons for that. Businesses don't get customers due to various restrictions and bans that are being introduced. Bitcoin, however, is not supposed to be affected by the spread of the virus at all! Trading in mainly done online anyway, Bitcoin transactions don't put anyone at risk, and nobody's printing more Bitcoin to help local businesses and important initiatives to survive in these difficult times! The only thing that can get affected is mining, but mining also isn't a major price-forming factor, is it? So it's clearly more due to people panicking and selling all sorts of assets along with their BTC. I think that Bitcoin could actually help to save wealth (for the reasons I've mentioned above) but it won't be able to if we make it bleed even harder!
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I'm not going to sell unless I need money for something specific which cannot be bought by BTC yet.
Why didn't you open a poll? It would be interesting to see the numbers.What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I'm not going to sell unless I need money for something specific which cannot be bought by BTC yet.
Well, I don't think many people will sell under $7000. So I except bitcoin to go back to $7000 pretty soon.
People stacking toilet papers and hand sanitizers by selling their assets even bitcoin. 
The panic button is on right now could be a whale action so everyone make your strategies now to make profits.The smart investor mind will buy coins now to make huge profits when the market returns back to normal position.
The panic button is on right now could be a whale action so everyone make your strategies now to make profits.The smart investor mind will buy coins now to make huge profits when the market returns back to normal position.
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
Personally, I do not think about the reason for the currency's decline, and I am not afraid of price fluctuations!!!In fact, the best times to invest are moments of global economic crises
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
As always, the only purpose I will consider when selling my BTC is when I need urgent cash or something that I really need to cover as cash. Other than that, even with speculation of BTC going back to $1, I will stick to my "hodl to death" stand.
In other words, no matter how bad or worst the market is, it's not my usual to just think of selling it. Why should I if in the first place, I can use my other ammo to make another entry, yes continuous accumulation by any chance.
Just "trust the process".
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I am also clueless why the price of bitcoin goes deeper when it shouldnt. Like what you mentioned, the space of crypto works online and as a digitwl currency without any tie with the economic condition.In addition to the topics, panic selling are done by mostly those who have also asset with major and international stocks which probably they are thinking of cutting loss. But this is a hard press on holders. To be honest, I am bit dissapointed but we should remain calm and patient.
My plan is to hold cause nothing we can pinch here if we sell. I am risking already so why not put and bet it all. Corona virus should be exterminate soon to be able to recover from this mess.
You guys have to know that in a moment os crisis, people sell their investments and try to have fiat cash in hands, because no one know what's going to happen, could be BTC, cryptos, stocks etc
Even if we are totally online, people starts to panic, and if you look to measures that governors around the world are taking, it's not some little problem, this crisis are affecting the entire world
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
My stance is accumulation at this point! As an occasional trader, I have learnt to ride the wave but not to leave the sea. I agree that the crash is too much to handle for a single day, but I am sure traders have found the opportunity to accumulate more at this price level.
For me, it's time to prepare for future profit and not panic selling. Unless someone has bought below 6k level, they are not going to make any money out of the current market. Rather, it's best to wait for the opportunity that we have in store for us. But only the bravest will be able to find it!
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I am also clueless why the price of bitcoin goes deeper when it shouldnt. Like what you mentioned, the space of crypto works online and as a digitwl currency without any tie with the economic condition.In addition to the topics, panic selling are done by mostly those who have also asset with major and international stocks which probably they are thinking of cutting loss. But this is a hard press on holders. To be honest, I am bit dissapointed but we should remain calm and patient.
My plan is to hold cause nothing we can pinch here if we sell. I am risking already so why not put and bet it all. Corona virus should be exterminate soon to be able to recover from this mess.
I was shocked when I saw the price today. I understand that COVID-19 is hitting the economy and other things really hard right now, but there are objective reasons for that. Businesses don't get customers due to various restrictions and bans that are being introduced. Bitcoin, however, is not supposed to be affected by the spread of the virus at all! Trading in mainly done online anyway, Bitcoin transactions don't put anyone at risk, and nobody's printing more Bitcoin to help local businesses and important initiatives to survive in these difficult times! The only thing that can get affected is mining, but mining also isn't a major price-forming factor, is it? So it's clearly more due to people panicking and selling all sorts of assets along with their BTC. I think that Bitcoin could actually help to save wealth (for the reasons I've mentioned above) but it won't be able to if we make it bleed even harder!
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I'm not going to sell unless I need money for something specific which cannot be bought by BTC yet.
What's your stance on this one? Are you planning to sell BTC given the situation? Or do you think it's better not to?
I'm not going to sell unless I need money for something specific which cannot be bought by BTC yet.
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