My fear in fall of Bitcoin. - page 6.

goldkingcoiner

legendary

Activity: 2240

Merit: 1993

A Bitcoiner chooses. A slave obeys.

Quote from: Jaycoinz on February 03, 2023, 09:45:45 AM

Bitcoin is a cryptocurrency that no has the capability to predict it's rise or fall.
I am beginning to have a doubt that Bitcoin cannot go to a higher price just like the previous year.
Cause Bitcoin is determined by the number of people in the digital market. Just like the higher the number of people that purchase Bitcoin the lower it's price and for it price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin. So I still have the doubt of Bitcoin shooting higher just as we are expecting in 2024.

Throughout all these years with Bitcoin, I have learned one simple truth.

Ask yourself one simple question before you start despairing:

Would you be having such fearful thoughts if Bitcoin was currently in a bull market going over 70k+ ? I think the answer is quite simple. No you would not. So why start doubting Bitcoin during a bear market? Even if right now seems like Bitcoin was supposed to rise back up, things do not go as planned. You need to believe in the long term potential!

dimonstration

hero member

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Dimon69

Quote from: mk4 on February 03, 2023, 09:56:47 AM

Quote from: Jaycoinz on February 03, 2023, 09:45:45 AM

Cause Bitcoin is determined by the number of people in the digital market. Just like the higher the number of people that purchase Bitcoin the lower it's price and for it price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin.

? ? ? What. I think the only part I understood was the first half of the second sentence. How does more people buying bitcoin lower the price? That's literally the opposite of what should happen in theory.

He got me confused too on his analogy but by making an assumption, I think he means more people buying and selling since having a huge number of trader that doesn't care about long-term investment will surely give a negative impact on Bitcoin price once fear is already high. I think the fear of buying and panic selling is what this thread is all about which is negligible for all the investors that looking at the future price and not the zoom-in price interaction.

AicecreaME

sr. member

Activity: 2436

Merit: 455

For sure when Bitcoin make another all time high, your doubt will have a friend, and that is regret. I can't imagine myself regretting something that I could have done while it's not too late. Risking is a part of success, because that's how you're gonna find out if it's worth it or not. Trying is a part of growing, even if you failed, at least you've tried and learned something from it, rather than living all your life from what if(s).

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: Jaycoinz on February 03, 2023, 09:45:45 AM

Cause Bitcoin is determined by the number of people in the digital market. Just like the higher the number of people that purchase Bitcoin the lower it's price and for it price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin.

? ? ? What. I think the only part I understood was the first half of the second sentence. How does more people buying bitcoin lower the price? That's literally the opposite of what should happen in theory.

Jaycoinz

full member

Activity: 476

Merit: 230

God is All

Bitcoin is a cryptocurrency that no has the capability to predict it's rise or fall.
I am beginning to have a doubt that Bitcoin cannot go to a higher price just like the previous year.
Cause Bitcoin is determined by the number of people in the digital market. Just like the higher the number of people that purchase Bitcoin the lower it's price and for it price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin. So I still have the doubt of Bitcoin shooting higher just as we are expecting in 2024.

Topic: My fear in fall of Bitcoin. - page 6. (Read 674 times)