There have been big hacks in the past that din't cause any drops at all even though people were dying to see them. In other words instead of sitting around hoping for a dump to buy you should have bought already
Topic: Love the bad news - page 3. (Read 451 times)
Big exchanges being hacked are not going to cause a 50% drop, at best it would be a 20% drop and that only depends on the ongoing trend of that time for example if price was shooting up already we may not even see a drop.
There have been big hacks in the past that din't cause any drops at all even though people were dying to see them. In other words instead of sitting around hoping for a dump to buy you should have bought already
There have been big hacks in the past that din't cause any drops at all even though people were dying to see them. In other words instead of sitting around hoping for a dump to buy you should have bought already
That makes traders and investors panic and close their trade or sell their coins because they don't want to lose. But for some others, they will think that the best time to buy more is coming, and they should use that time to buy as many amounts as they can and hold it until the price can increase. But the panic moment will happen temporarily, and the panic traders and investors realize that they did the wrong thing, and they start to repurchase the coin.
If you can calm down and hold your emotion in the bear trend, you will not lose the opportunity to buy the coin, and you will get the time to buy low for the coin.
If you can calm down and hold your emotion in the bear trend, you will not lose the opportunity to buy the coin, and you will get the time to buy low for the coin.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
New traders panic when the assets they own experience a drastic reduction and their intuition is to avoid further asset losses due to the bloody market. This could be because their entry point is when several candle sticks are green, and actually the price correction is going on in front of the face. Winners are those who hold or add value to their assets by buying some additional crypto when the price is completely discounted. Meanwhile, the loser is he who is carried away by emotions and only thinks about his current financial condition, without considering market conditions in the future.
Various price patterns after the cryptocurrency exchange hack are predictable and always repeat themselves. In fact, this has become a tradition like the Bitcoin halving.
Various price patterns after the cryptocurrency exchange hack are predictable and always repeat themselves. In fact, this has become a tradition like the Bitcoin halving.
What's the main fact behind this logic? Logically, price should also go up as a hack means some amount of coins are in control of the hacker who is unlikely to sell instantly as they have to go through a lot of hassle to ensure they are not leaving any tracking.
Well, this is also true that hack has a significant affect, price drops are almost guaranteed. The more volume of hack happens, the more drop to come.
A study on hack and price drop
If the hackers don't sell it immediately then the prices would probably stabilize or stay the same since the stolen amount is still on hodl. I do agree with OP in regards to this but market opinion is a vital thing to follow because they are the ones that move the market so be careful when you are greedy when others are fearful and vice versa. Well, this is also true that hack has a significant affect, price drops are almost guaranteed. The more volume of hack happens, the more drop to come.
A study on hack and price drop
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
Yeah, this line is a bit common piece of advice but not all are pretty aware with this line which is really helpful for you as a trader or investor but even though you are People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
fully aware with this advise but when you are already on the actual situation then its really hard to make out some buy if you do see a declining market.The main
enemy of yours on this kind of time is your emotions.You wouldnt really able to avoid those have doubts where you do have impressions that it might go even more.
Bottom is unknown and you would really be scared to buying if you dont have any basis.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
Losers on the market don't do this. They do the opposite and often being greed when everyone are greedy and the market is on the max limit of hype. They join the market when it is very close to its crash points.― Warren Buffett
After join at the top, see flash and terrible crashes, massacres massively on the market, they shake hands and sell at bottoms in panic mood.
They look back again and again, blame the market and bad news for all of losses they made.
The winners on the market are happy with bad news as they will be given free dips to buy discounted cryptocurrencies.
I mean, that's always (maybe not, but most?) the case for people who get rich. 1% effort and 99% luck, though I don't really underestimate that 1% effort since that was what caused them to get that 99% luck. Timing is the greatest factor for one to get rich, heck not even a hack, just look at what happened last year in March, that could be said to have been the perfect entry point, considering that a year after, the price was 10x what it was, getting you that much profit, compared to others who held on and invested a bit later or even earlier, they'd only get 4-5x.
Actually this kind of news would strongly discourage new investors to adopt bitcoin, as they would see it in an unsafe way to store their money. And if this hypothetical hack involved a big exchange the consequences would be even worse, as another main exchanges would suffer mass cashout. I don't like the strategy of taking advantage from the chaos and from others' suffering to make profit and I hope something like this never happens anymore. There are more healthy means to grow crypto holdings without expecting a messy situation like this to happen.
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
(....)
This kind of news seems to be already aged now, we already experienced some of this for over the years.(....)
Additional is this incident could also depend on how much the volume of the exchange got, and for sure the huge volume exchange has, a huge effect on price.
Some of the exchanges already have "insurance", where this insurance came from trading fees of the users on the platform, which for me it is kinda good and safe for everyone.
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
I'm not really sure if we are going to see 50% drop just because a major exchange is hacked. Binance was hacked like 2 years ago but the market didn't crashed.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
History repeats itself and the price wil lgo parabolic again
There could be some investors specially newbies that might quit because they lost the money or they didn't see the crypto investment is not that easy. They always have that mindset that the price will go on parabolic rise. Then they got disappointed, but I'm sure those who quit are going to be back.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
Yeah, some people quit after all those worst situations before but why we are enjoying another Bitcoin's ATH day by day.
Not just with BTC but with other altcoins and tokens as well.
Take that instead as a positive side. If something bad happened, then take advantage of it rather than a crybaby.
I get that what you're trying to say is to see opportunity even in the direst circumstances that others would find hopeless. But your example just wouldn't cut it out in the real world. Realistically, hackers would have to go to a very painstaking process in order to just cash out one of their stolen goods, the same may not be applicable for user hacking, but for something as big as an exchange, you cannot expect a price drop that drastic unless the hackers are deliberately trying to get themselves caught.
In crypto timing is everything, as long as you know how to control your emotions and not letting emotions control you. Real holders don’t care about the market emotions and stress they always focus on longterm once they realise the potential of an asset.
That's a nice saying but an exchange hack would not result to a big drop of 50% of the current price, maybe it's possible if Binance will be hack and their SAFU could not cover the loses anymore, but I'm not hoping for that. Even without bad news, bear market will come as correction will come, it's just that we don't exactly know when it will happen, so keep your hopes high, it will just come.
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
Of course, everyone should take advantage of every situation, not just crypto exchanges hacks, there are news that can down the market, for instance the covid-19 scare last year. If average joes and institutions have bought bitcoin that time, then for sure they are in the profits as of today. But since we are in a bullish cycle, then bears should wait, don't try to short bitcoin as you will get REKT.
Well, this logic is for the investors who wanted to invest but unfortunately --they can't because of the bear market.
They are waiting for the bad news and hoping that the market will be going down so that they can step in to invest in the cheapest price. Greedy people are those being FOMOed and perhaps others are the panic seller when they heard such announcement that the major exchanges were hacked.
We know since then about the FUD and this will affect those new investors that result of panic selling --but those who already understand how bitcoin works always have ATH, and they will hold whatever bad news it is.
They are waiting for the bad news and hoping that the market will be going down so that they can step in to invest in the cheapest price. Greedy people are those being FOMOed and perhaps others are the panic seller when they heard such announcement that the major exchanges were hacked.
We know since then about the FUD and this will affect those new investors that result of panic selling --but those who already understand how bitcoin works always have ATH, and they will hold whatever bad news it is.
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
Yeah, this line is a bit common piece of advice but not all are pretty aware with this line which is really helpful for you as a trader or investor but even though you are People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
fully aware with this advise but when you are already on the actual situation then its really hard to make out some buy if you do see a declining market.The main
enemy of yours on this kind of time is your emotions.You wouldnt really able to avoid those have doubts where you do have impressions that it might go even more.
Bottom is unknown and you would really be scared to buying if you dont have any basis.
legendary
Activity: 2072
Merit: 2012
Marketing Campaign Manager |Telegram ID- @LT_Mouse
What's the main fact behind this logic? Logically, price should also go up as a hack means some amount of coins are in control of the hacker who is unlikely to sell instantly as they have to go through a lot of hassle to ensure they are not leaving any tracking.
Well, this is also true that hack has a significant affect, price drops are almost guaranteed. The more volume of hack happens, the more drop to come.
A study on hack and price drop
Well, this is also true that hack has a significant affect, price drops are almost guaranteed. The more volume of hack happens, the more drop to come.
A study on hack and price drop
If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
Jump to: