Topic: The fall from 65k to $30k was the best thing to ever happen to Bitcoin (Read 1225 times)

I think it's time to buy more amount of Bitcoin who wants to buy. As it touched $60k, there is possiblity to hit more than $60 again. After some days it won't be possible to to buy huge amount with same capital what you are trying to invest on bitcoin. So, this dip can be helpful to buy bitcoin.

I did not get into bitcoin until late 2013, so I did not personally experience any of the pre-late-2013 price performance matters.  Personally going through the experience does sometimes lend some better senses to what was happening psychologically for a lot of people - and maybe just kind of experiencing the matter in the moment (or through the period) gives some senses that are more concrete than merely looking at a chart.

Nonetheless it can be helpful to study the charts from earlier periods and even to verify the specific price performance numbers in order to really recall the numbers, the dates and the price ranges.  I think using MTGOX for the pre-2012/2013 prices and dates is good, and then thereafter Bitstamp is a good reference.

So I had already heard some depictions of the 2011 price run and subsequent crash as  going up to $32 and then back down to $2 and then working its way back up.  You can see on this chart from February 2011 to December 2012:  https://bitcoincharts.com/charts/mtgoxUSD#rg60zig12-hourzczsg2011-01-28zeg2012-11-30ztgMzm1g10zm2g25zv

You can also switch exchanges on bitcoincarts.com, change the dates and work some other variables to be able to attempt to zoom, and sometimes it can be somewhat important to get an idea of the price range and how long it took to go up and how long it took to go back down and then recover.  So it appears that in early May 2011, the BTC price went from around $2 to $32 in early June (slightly more than a month), and then came back down quickly to $15 in a few days and then sloped back down to get to $2 again by the end of November (5 months or so)... but it appears that by March 2013, the BTC price had recovered back to it's earlier $32 (which would have been nearly 2 years) but then within another month or perhaps two at most went to $263.

Those periods of down are not always going to play out exactly the same because of changes in the market and just the strength (or lack thereof) of the Lindy Effect in bitcoin.  So sure, if bitcoin has been around longer, then there will be more confidence in regards to its likelihood of continuing to stay around, but then the market participants change too in terms with how many exchanges (or even OTC players and/or the development of various financial instruments) are participating in the bitcoin space to contribute to bitcoin liquidity and how much trade value it takes to move the BTC price.  Of course, now we also have a variety of shitcoins that could affect liquidity in various ways and also be used as FUD spreading talking points to attempt to affect market sentiment as well as more concrete liquidity considerations.

It would be pretty rare for you to find me even attempting to make any kind of you are not acknowledgement of shitcoins directly affecting the BTC price or even acknowledgement of theories regarding single theory (or even a small set of causations) affects on BTC price, even though in the short term there may well be some single factors that are dominating more greatly and perhaps attempting to exacerbate a kind of momentum that might already exist even though we might not always be able to see or recognize a lot of the behind the scenes causations - even if some whales could be in better positions to see some of the things, they still might not know whether if they would be able to move the BTC price by strategically dumping 1000 coins or being able to buy them back at a lower cost (or at least not a losing money price) if they were to attempt such a strategic dumpening.

yes you are right, best for a holder, and bad for beginners who are new to crypto, where they are tempted to profit reaching hundreds of millions without knowing the storyline from when a btc holder wins profits,

In 2010 or maybe 2011 i didn't remember it but it could be one of them that time bitcoin reaches $0.01 from its ATH MAYBE $16-$32 i can't remember exactly sorry for that. Just think that moment and that was the starting time of bitcoin when lots of people didn't have that much believe on bitcoin they might come bitcoin through their friend or someone. They must lost Trust on him and also bitcoin they become panic and exit from bitcoin. If they understand the bitcoin and believe them self they might be billionaire right now. Just think after 10 years now People understand bitcoin its power. Well in my opinion its a chance to grab bitcoin not to spread any rumers or afraid about FUD working process.  So believe in your self and jump into it and take it as a business module. Thank you

Hodling and buying are getting more popular is good, I guess. I do think using getting more popular is even better, but I think it's just because prices are down so much from the ATH that people are waiting further to see. Once the MA gets a little lower, people will be less reluctant to spend, when they feel that the rally's over and it'll slowly pick up again on the next cycle.

Not the best thing to happen ever, but certainly, I'm enjoying the lull.

yes, there are those who are happy like you to be able to get a lower price and buy and save to wait for the price to go up again. but also many are not happy because it causes the price of all altcoins to drop so that many of them suffer losses because they have not had time to sell when prices are high. everything is good and bad, it just depends on what angle you look at it from.

you have to look at it from a different angle because if you only look at it from one side, there are indeed those who benefit but not a few who are harmed. Moreover, what is very unfortunate is that bitcoin went down due to unthinkable external excesses from people who could not restrain themselves and did not analyze well, by doing things that were not controlled so that the market turned red. this should not have happened because it made something like this happen again because of the intention to seek personal gain.

Sure, some people believe that the market is dying and not going to recover, but why do we give any shits about them?  Those kinds of people are always present and likely are failing/refusing to act and to prepare for UP.  They are overly focused and concerned about DOWN without either valuing the preparation for up or having a long enough investment horizon that DOWN should not overly affect them.. For example, if your BTC investment horizon is at least 4 -10 years (of course, longer is better, but still even the shorter one might work out), then If you have already been in BTC for 4 years, you would see that you have pretty decent chances of being up on your investment, so you would not consider a wee bit of down time to be impacting you in any kind of meaningful way, especially if you still might consider that you have another 6 years or more to stay invested in BTC.

So for example, someone who has been in BTC for 4 years could very reasonably have a steady BTC buying practice of something like $20 per week, but still be in the neighborhood of 4.5x or more returns in regards that the amount that they invested into BTC... Maybe more than $4k and more than half a bitcoin and not bad kind of investment progress.

For sure the guy with 7 years of investing in BTC is going to be sitting much more pretty with the same level of mediocre investing of about $20 per week, he would have ended up with something like 42x of profits, and $7,300 invested but more than 8 bitcoins.

Even though the longer that someone has been investing in bitcoin has tended to cause better kinds of overall returns, even with relatively modest amounts invested on a regular and ongoing basis....

So even if we look down the road and the person who starts to invest in BTC might not have more than 4x after 4 years or more than 40x after 7 years, but even having 4x in 7-10 years is likely going to be decent results and within a range of quite reasonable to hope for, even if nothing is guaranteed in terms of either amounts of time, and there are also going to zero scenarios that are not non-zero in their likelihood, but I still would consider bitcoin having a quite better investment thesis now as it did in 2013 - even if there has already been a considerable amount of BTC price appreciation over that time.. and even though BTC may have moved from the earlier early adopters phase to more of a just regular early adopters phase. 

Your milage may vary in terms of your actual performance or your strategies that you might consider employing after attempting to assess both where BTC is currently and where it might go in the short, medium and/or long term.. and which kind of investment approach that you prefer to employ, if any.

4-10 years minimum I continue to suggest as being good.. but surely you have to tailor to your circumstances and also consider that even if some kind of getting rich quick were possible, it is likely more prudent to be attempting to be preparing for getting rich more slowly.. and to feel lucky either to make it or lucky to have it happen in a shorter period than expected.. such as while you can still enjoy it.. depending on your age and how many years you are planning to move from BTC accumulation stage to maintenance stage to liquidation stage or whatever variation in the middle since they might not even be absolutes in the whole investment portfolio categorizations and considerations.

As OP mentions, it is like the fall of bitcoin had to occur so that more people participated in the network, be it the banking institutions and the countries that want to improve their infrastructures and the quality of life of their inhabitants.

I also view the bitcoin scene with great optimism. This is an opportunity for the United States to make Bitcoin more environmentally friendly so that there is no more doubt.

Kinda agree with some of your reason I think the dump was really a good thing to bitcoin and it gives positive reasons to buy bitcoin and make people reinvest again, the price was already too high in the market and I honestly think that it needs to have a dump.

I mean most of the investors invest when the market price drops and at any time we could expect for the market price to go back to 60k$ and continue to pump up to a 100k$, honestly, I think when the price goes back to pumping it could easily triple its market price last time.

hopefully, it's not too late for some people to buy, because most of the time when the market price stabilizes again and goes back to a higher price in the market most of the time people realize it too late when the price is already too high.

That's what others don't see as what you see.

When the price drops too much then they won't look at it as a chance to buy but will look at the market as a dying market. And that's a very negative approach of them because they think that it's all going to drop and without any chance of recovering.

That's what they don't know.

Why people cant really just accept out about bitcoin volatility? They were expecting that once we do take off then it would be a continuous one without minding about corrections or whatsoever which is really a very wrong mindset to have and market wont be called one if there would be no bearish movement or times so its just
normal on having these kind of corrections which does indicate that we've been dealing with a healthy market even though there are bubble behavior on the past years
but as adoption and recognition increases then it is truly different as of this moment so its better to be grateful.

I can actually tell, this is not very much surprising. We've been here since then and we know that Bitcoin always have these types of corrections and we know how to approach it properly.

For me, the best thing that happened in Bitcoin was the fall after the Bull Run last 2017. If that didn't happen, the Bitcoin isn't here today. Bubbles could have been occurred that could have damaged the reputation of Bitcoin massively.

Now, with all of the institutions coming in, the cryptocurrency will soon have another correction we need to be ready with. But this time, this would clearly impact us positively. 

I don't think so. Elon Musk must have stayed away from Bitcoin but that doesn't mean he is gone. As far as I know, he is still around cryptocurrencies but he mostly talks about dogecoin now. He also said that he is still positive about Bitcoin, he just doesn't like the energy consumption of it. Nonetheless, I'm still thankful he made Bitcoin dump so I could buy cheaper lol.

How much fiat you going to have left if BTC prices were to reach those $15k to $20k levels?

Many of us seemingly prepared for worst-case scenario HODLers are going to be running out of money if BTC prices were to reach that low.  Currently, I do happen to have buy orders staggered down to those levels, but I surely am not expecting them to get filled - minus some kind of long-shot happenings...

Many of us seemingly prepared for worst-case scenario HODLers have already been buying all the way down since $50k-ish.. so if the BTC price goes below $30k, below $25k even above $20k, several of us likely will be buying quite a bit at those higher prices, so from where is all the money going to come to be able to buy more below $20k, if the BTC price were to get there?  

It remains quite doubtful that the BTC price will get below $20k, but still.. hopefully not too many people are holding onto large amounts of fiat waiting for the BTC price to go below $20k and the price never happens to get there.

When the price bitcoin drop more than 30% i'm very happy because i have a chance to buy more bitcoin at lower price, for those people who believe in bitcoin (including me). I'm so happy when see the btc price drop because i believe at the end the price of bitcoin will rise again.

Well, it has to be familiar to us that every fall is an opportunity for the investors, not for those who are still in doubt and those who just watch the market falling. If I have money left in my pocket, I should have to invest in Bitcoin or I sell my altcoins for this opportunity. I'm not saying this was the best thing to ever happen in Bitcoin since we already know that this thing might come to us after the bullish ends. In fact, we are preparing this, people are selling earlier before the drops have come and this is because we are anticipating this event.

Great catch mate , best  to report this in plagiarism thread and this will surely banned.

anyway I have reported to the MODs also mate to help faster reaction.

What if the dip did not come? meaning you will never invest again?

If bitcoin is either in a higher value or fall are still the best thing because you can make profit in a higher value and can buy more when it fall. But all is depends on every one situation. If you have a lot of capital you can buy more in a sudden dip to hold and wait another ATH.

That would indeed be the gift of all gifts. I HOPE you hit your target because I will definitely be there with you.


Short knowing that Michael Saylor, Steve Cohen, Cathie Wood, and the other billionaires are buying and HODLing? Selling now would only be making it easy for those billionaires to get the thing they want from you most, ser. Your Bitcoin. Hahaha.


Zoom out, ser.

As far as I know, the funds will be able to act innovatively. The Fund Location Act will come on July 1st, 2021 and will allow you to invest up to 20 percent of the funds you manage in crypto assets such as Bitcoin. Banks in germany are very conservative.
Source: https://t3n.de/news/deutschland-fondsstandortgesetz-krypto-1375731/