Topic: Recessions make stores of value pump. Bitcoin dumped and that's alarming (Read 167 times)

well , i just say it's a part of stabilization,even the worst thing's happen.
now i asking,what we can do ?
nothing right ?
so let it be.

I'm under the impression that it is being used as store of value, but not the majority. Perhaps those early bag holders. So it can still be a store of value with or without banks intercession. But you have to understand that we haven't seen any altcoin that's even close to bitcoin as per the price right? So that's where the whole speculative asset and store of value come in because of the perceived price. As compare to altcoins which we haven't seen to enjoy the support last 2017.

Lol, we have people like that the attributes every little problem to things a lot, he just need to understand that this period, there is high volatility, and the market could fluctuate at any direction at anytime that its movement could clash with some certain events that is happening around that time.

What the op is even attributing the event to is what I don’t understand, and like you said, there is no relationship between both because I am not even seeing any recession anywhere, except maybe his country is having some recession which may not even have any effect on bitcoin, because bitcoin is a global currency and it has community from different regions of the world, so the investor are not concentrated on one region that we will say when that region is facing recession, it would collapse the market, that is absolutely impossible.

We are in a normal cycle so nothing to think too much about it.
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That's right no need to worried most specailly the current price is in the stable and strong and the cycle of the price up,and down is normal. Always be positive to avoid stress all we need to do is stay calm and monitor to all possible updates of pump and dumps of bitcoin movement.

The world market is experiencing the hard days of economic recession. Particularly this is being experienced mostly by the growing countries, another thing is the trade war between China and USA. Several factors influence the world market changes. With bitcoin it is completely different and it is purely of the rising demand that creates the market. This is where it becomes a manipulative asset for large volume holders with ease.

Bitcoin price dumping happens commonly and people relate it to some event taking place over that time. Also it gets attention easily than the rest of the cryptocurrencies as this is kept to be the reference point for rest of the available cryptocurrencies. The market is to earn out of the difference, and this will be done continuously by someone which can be of the whales or the negative news.

We don't have to convince them or change the approach. Bitcoin has been affected by many factors these days but we can't be sure on what exactly the price made stumbled. It doesn't matter if a hacker is dumping all of those btc he has.

Because there are whales that also do the same, so if someone dumps ton of bitcoin so it's necessary to think that it's the reason why the market has plunged? what if you have tons of bitcoin and you want to sell it?

We are in a normal cycle so nothing to think too much about it.

Bitcoin for me is not a store of value and is just used by speculators. For the moment, i don't see how you can convince people that it is a store of value. It needs the approval of all governments and all banks. If not, it will never be a store of value. And why should it be a store of value? I don't see why it should become one as it has the same functionality as other altcoins. It is just a virtual currency.

I do hope that you know that Bitcoin its a speculative assets, and as such, it is very volatile because it is based on demand. News sells here so if there are some negative news, the market will react. But the thing is, every negative news that we have seen in the past has a short term impact only. Store of value or as p2p, it doesn't matter, as long as people are willing to purchase and someone is willing to sell, the market will continue to move on.

Any assets can be considered as gambling because there was no actual value when it comes to the speculation asset like bitcoin or the stock market. The bearish trend from that time caused by the scam project called plus token has been dumping a lot of bitcoin.
https://cointelegraph.com/news/240m-in-suspected-scheme-assets-moves-in-four-bitcoin-transactions
I thought that various cases mean a lot for bitcoin's price.

As stated in the article, Bitcoin belongs to the class of gambling assets. But this does not prevent large investors from owning this asset. The mentioned price reduction from August 13-15 is not necessarily a sign of a loss of investor confidence in BTC. There can be many reasons for taking an investor's profit. Investment system as well. To sound the alarm in this case is too paranoid.

we must be wise in responding to it. Recession is nothing new for BTC to dump. this year the dump is up to $ 3800 and this year can also reach $ 11,000 ... So stay relaxed

Bitcoin market is currently very healthy and it is the spirit in us that want things to continuously been good that do make us to start looking for excuse why certain reactions happen in the market. Bitcoin corrections is not dumping and the current global recession has noting to do with bitcoin grow except on a positive level. To me bitcoin has outperformed its age and I could remember in 2016 when bitcoin market capital was below $3billion we see posts like bitcoin will not grow to $10billoin market cap but today bitcoin's marketcap is now above $200,000 in just two years.

In my country, my president once accused us of blaming him for everything and he said that it will get to a point where we will also balme him for us not being able to toilet, because i dont see the corelation between recession and the dumoing of bitcoin.

Relax already, jesus.....

Bitcoin is volatile, and it's gonna pump and dump like this, until all alts have been sold at the absolute bottom. Whales are making people scared of altcoins, only to get a good entry point, when they decide to turn the market around and pump altcoins.
The market moves in cycles, a high BTC dominance means you should diverisfy in ALTS, and a low BTC dominance means go all in BTC (or any stable coin)

I'm moving a few BTC into alts currently, and while some of you probably believe I'm an idiot for doing so, I don't care. I bought some ADA at 400 sats, and I'm already up on my investment. Expect it to go down there again, so if it falls too much, I've got my stop loss set.

I'm also buying up a great deal of XSN - Low cap project who's making the first Lightning DEX, Lightning Multi Currency Wallet, and their own hardware wallet. Huge deal, as anyone who've dealt with large sums of crypto transactions know how much you're paying in fees, and the transaction time is horrendous. Lightning solves it all, and Stakenet has put it in a place making it completely decentralized, by making their eco-system of masternodes act as lightning channels, and service providers.

Anyway, you gotta relax, it's just the big whales playing around with your emotions

https://chainbulletin.com/global-recession-indicators-send-the-crypto-market-in-freefall/

How do we explain the fact that news of the upcoming crisis made bitcoin drop unlike other store of value?
Was it some hacker dumping tons like last time?
Or it BTC simply not considered a SoV by the general public.
If it is not, how do we convince them that it is? Do we change our approach?