Topic: The fall from 65k to $30k was the best thing to ever happen to Bitcoin - page 4. (Read 1233 times)

I don't know but this gonna happen whether we like it or not. People who did the selling during the bullish season have a good time in crypto, definitely, they are profiting more than anyone.
In my part, I was very happy as the market reaches back to $30k + so I can invest again, but I was thinking also about what will happen to those who bought Bitcoin during the hype. I assume that they will still be holding it until now, but the question is how long they could stand for it?
Some people got lucky but some also are in regrets...the real talk.

I think it is a good thing when the Bitcoin community can be cleansed of the weak hands and the speculators. It will be good for Bitcoin if we can do that 2 to 3 times a year. It will also be great if the price will recover and then stay stable for months to give the merchants an opportunity to accept Bitcoin as a currency.

The primary goal should be for Bitcoin to be used as a currency and not as a commodity and high volatility is not good for a currency. Fiat currencies are manipulated by governments to be stable, but the Bitcoin price is purely based on Supply & Demand and it will take time for it to reduce the whales and to have a more even distribution of coins for a more stable price.  

However, we are now closer to zero than to 100k. All this fud could cause even deeper dive in the next few weeks. That will be not so healthy for crypto

I did not expect it would fell till those levels, those fall was inevitable to some extent considering eh one way ride has happened. But Elon's tweet and China's ban happening simultaneously actually made it more worst then it could have happened. Due to these the btc fell badly till 30k else could have sustained above 40k. But got a god buying at lower rates else could not have being possible to buy at such discounted rates.

You expect Bitcoin to crash, because you don't buy Bitcoin above $60k, for people who buy Bitcoin at peak prices, they definitely expect Bitcoin
to go up again soon. Regarding the current Bitcoin price whether it will go up or down, I don't think anyone can predict it correctly. So the decisions
we will take now must be carefully thought out, lest we regret the decisions we take. I believe the price of Bitcoin will soon rise above $40k,
because the market has started to saturate, the price has always been stable at $35k-$38k in recent days.

Yeah, I was hoping it crashed a bit more lmfao atleast the alt coins specially that go up and down with Bitcoin. Seems like it's fixed and will only move up from what it is standing today right now. Who knows though, maybe another big dip is waiting and we might go towards the end of the year price which was $10k around or something, but am pretty sure if it goes to that, there will be more dump than a pump, which is what makes the opportunity greater for investors because the panic in air will be like a miracle for holders. Sounds too good to be true but it's crypto and it's 2021 so anything might happen!

Have to agree with this one because I bought some during the crash and now that bitcoin is steady and is in a limbo, the bitcoin that I have bought has already had a big profit margin.

Let's try to be specific with our bullshit assertions about some people x and other people y, because the fact of the matter should be that if the BTC price goes up 6.5x (from September to April), then you better fucking be prepared that the BTC price might not go up from that 6.5x price rise (or at least not right away and there could be a fairly lengthy delay in terms of both getting back up there and continuing to go up from the ATH price point), so I hardly have any sympathy for those peeps who are jumping into whatever investment (BTC or otherwise) and expecting the price to ONLY go up.. especially if they are buying BIG (hypothetically) on the way up.  

That's nearly pure nonsense to even expect that those buying at or near the top peeps are representative of anything beyond having unrealistic expectations.

Let's take a more realistic person who may have bought $10k worth of bitcoin in 2020, and then just continued to buy fairly aggressively at $100 per week, so maybe this hypothetical person (of having around a year in bitcoin) has invested another $5,200 (that is 52 weeks x $100) into bitcoin.  So maybe he has a total of $15,200 invested into bitcoin and maybe 1.5 BTC.. So in the past couple of months, his BTC portfolio value went from $97,350 (1.5 x $64,895) (which would have been $82,150 in profits) down to $45k (1.5 x $30,066) (which would have been $30k in profits) when the BTC price was at its lowest, so far.  

And, so now as I type this post, this hypothetical person of one year in bitcoin has a BTC portfolio value around $54k (1.5 x $36,000) (which is $38,800 in profits).  That is a person with 1 year in bitcoin and who is not fucking around with trying to trade or engage in bullshit strategies of timing and getting worked up about over investing, but just trying to accumulate bitcoin at a rate that is presumably reasonable for his budget, and I see little to no reason for such a hypothetical person to panic or get worked up because his level BTC value dropped more than 50% from $97,350 at its peak down to $45k at its low point.  If you do not overinvest and you engage in reasonable investing strategies while accounting for your own financial situation, then it seems quite likely that the longer that a person has been in bitcoin and reasonably accumulating BTC, then the more likely they are in profits - even with the 53% price dip that is now bouncing around a 40% to 45% correction arena.  

If you have set some BTC accumulation targets, then surely it seems like a good plan to just keep accumulating BTC.  On the other hand, if you had already reached your BTC accumulation targets and you are in a kind of maintenance mode, then at some point you do not necessarily need to continue to accumulate BTC, even though a 50% price dip and then a kind of bounding around in the 40% to 45% price correction territory does seem to be a good place to accumulate a bit more, even if you may feel that you are already in a high enough allocation level in terms of your BTC.  

In the end, each person is going to need to assess where s/he is and figure out, if more accumulation might be a good thing when there is a decently large drop in price or if maybe just waiting to see what happens in terms of planning to accumulate more if the price were to drop more, which is also far from guaranteed, but does not hurt to be prepared psychologically and financially for either BTC price direction, and don't engage in strategies that will cause you to panic along the way.  

For example, if you are a relative newbie to bitcoin and/or you made some mistakes in recent times and you bought way too many BTC at too high of prices (such as buying a lot of BTC between $50k and $64k) and not adequately pacing yourself, then hopefully you can learn from this whole situation and attempt to figure out some portfolio management strategies to make yourself feel better both financially and psychologically, and likely one of those portfolio management strategies would just be to continue to buy BTC, and if you have run out of money to buy more BTC but you still happen to have a job in which you have a sufficient cash flow in which you can buy $100 per week, then seems that if you continue to buy at $100 per week (or whatever happens to be your reasonable assessment of your cashflow and your budget) sooner or later BTC price will go back above your average cost per BTC, and if you are buying more BTC below your average cost per BTC, then you would be bringing down your average cost per BTC.  

Another possibility is that you do not have any more money and you don't have sufficient if any cashflow, then you kind of fucked yourself by gambling and buying too much, but there still could be a strategy to HODL through this period, so hopefully people learn not to be investing more than they can afford to lose including making sure that they have a cashflow and if they were to take out debt to buy BTC (ending up at higher than current prices) that they are able to continue to service their debt during these kinds of periods that may only last a few months, but sure there are scenarios that it could take several years to get back to our previous ATH levels (doubtful but surely within the realm of reasonable possibilities that anyone should be prepared for those kinds of scenarios (even extreme ones) when they get into buying BTC).


Well what is your investment timeline, ArIMy11?

With traditional investments, many people take 30-50 years to establish a large enough investment in order to reach a kind of "fuck you" status, and surely a decent number do not really reach that kind of status and/or are unable to really stop working at some point and to have various kinds of income coming in to support them through their remaining years (which is also a bit of an unknown).

In any event, seems to me that bitcoin has the potential to accelerate the timeline in which someone might reach "fuck you" status or at least be able to provide a decent amount of supplement to other forms of income - even likely provide some hedge in regards to other forms of income or assets NOT adequately holding their value.  So if your timeline** is long enough 4-10 years or even longer, then surely, you can be quite advantaged by just figuring out ways to just plod away at accumulating more BTC and letting it grow and using your other moneys for your daily/monthly expenses.



**Even though your time in BTC will continue to run as you are investing in BTC, your timeline for anytime that you are considering investing more into BTC (or earning more from services or signature campaigns) should be measured from the time in which you accumulate more BTC or inject more money into buying more BTC.



Of course, some people want to try to reach "fuck you" status in a very accelerated way, but does seem a bit unrealistic and likely even folks with decent amount of value might well need a few 4-year cycles to really start to accumulate value in their BTC portfolio to be able to start to feel comfortable to start to draw against it.. but otherwise, keeping and maintaining BTC portfolio that is hopefully increasing in value in the broader picture - larger cycle spaces, would seem to be a prudent way forward for anyone who is able to manage it and don't get too impatient with how long a process of value building can take, even with a seemingly good investments, that bitcoin seems to be.

I am not really sure if I will be happy about this fall. I do not have any profit yet since the last btc ATH. The signature campaign I participated does end yet. But hopefully this year btc price recover so when the campaign paid me, I will also earn big. I do not have anything to buy. My money will be all for my needs so I can't trade or either bet.

Sad that many newbies in hodling are about to get their coins bought by those waiting "in the sideline" as you mentioned.
This isn't anything new now for me especially when Bitcoin plummeted back to 3k in 2019.
I wonder how many panickers regretted their decisions that day as well.

In your perspective, it is one of the best things that ever happened to you.
Now ask those people who bought Bitcoin at its peak or at least near its peak. Do you think that it is the best thing for them??

Different people have different feelings on what happened on the market these past few weeks. Some are happy to buy at the bottom and some are sad because they are at a loss of about half of their total portfolio. Some are proud of themselves because they took the opportunity to buy at the bottom while some are regretting because they bought at the highest price.

Some people think like it is the best thing but some don't. Because there have been many people who saw this as a opportunity to accumulate. But also many people were unhappy as they lost a lot of money.

hello sir, yes what you said is true, now maybe bitcoin will start a new phase with FUD which has been heard in the community, it all depends on where we choose to leave bitcoin or hold some of our assets to see the development of bitcoin, and currently people -big people there flocking to get in bitcoin and offering their projects and here big banks start trying to get in on the bitcoin wave

How do you know which institutions did what and sure you can paint some kind of grass is greener on the other side scenario, but there are probably all kind of performance results including quite a few BIGGER players who are either just holding through this situation or buying more, just like you did.

Sure, there might be some examples of institutions or BIG players in superior positions to be able to know that a large correction is going to happen before it happens, but I believe that there is way more fantasy in believing that too many peeps are actually in a position of superior information (which would be knowing that the BTC price would dump and also does anyone really know how far it is going to be able to be dumped.. sure they want is much as they can get, but does anyone really know in advance, especially when it comes to specifics.. I have many doubts) and acted on such information.

Institutions bailed their money before the crash so they really didn't get damaged at all. Yes it's the best thing for me since it gave me an opportunity to buy bitcoin at a really low price and given how charts and investment companies are pointing towards a new ATH for bitcoin, pretty sure that I did the right thing by investing at 30k.

you are right about this. Current prices give new people the opportunity to enter the market. if the market continues to rise, new investors will be afraid to buy. they will think what if the price suddenly falls or the market crashes. it's like any other opportunity to enjoy profit from bitcoin.

For sure, institution don't like to buy at ATH, this is when they load the boat. See ya on the moon in a couple months!

For me its not the best thing but its great move in 2021 so far. It always happens. especially when the price has gone up too high as before. A correction like this is actually considered a good moment to start actively waiting for the right time to fill your investment and buy some more.

Yeah, I also agree that we should have a plan B also every time. If we adapt to the movements of Bitcoin price, we won't be in a very big loss easily. Otherwise, things may not end very well for investors.

As OP points out despite the fact that the price of bitcoin has fallen and as we also know the reasons. We have good news that will develop, for example the FED has mentioned bitcoin as a digital asset that is not suitable as a means of payment and also pointed out that stablecoins offer other advantages for users, an appreciation that we share.

For its part, the FED is working on: