Topic: The fall from 65k to $30k was the best thing to ever happen to Bitcoin - page 7. (Read 1233 times)
June 04, 2021, 08:09:24 AM
Sorry, but I don't see how any of your points proves that this was the best thing ever happened to Bitcoin. I see it as a pretty bad thing, because this bull run was shorter and smaller in terms of relative gains, compared to the previous bull cycles, which means that the rate of Bitcoin's price growth could be slowing down. Though it's a pretty expected thing, because at this point almost everyone is aware of Bitcoin
June 04, 2021, 07:55:43 AM
It is not the worst fall for Bitcoin and not the worst if you compares it to Google, Amazon, Facebook. Charts are from this tweet
If those stocks are able to make new all time highs, why some people think the crash in May 2021 is the end of Bitcoin. A new all time high for Bitcoin will appear.
If those stocks are able to make new all time highs, why some people think the crash in May 2021 is the end of Bitcoin. A new all time high for Bitcoin will appear.
June 04, 2021, 07:29:05 AM
Indeed. To anybody who is waiting for the best entry into Bitcoin, this is the perfect moment. But I think a lot of newbies cannot see this opportunity. Many newbies or those who have yet to buy their first Bitcoin are only watching the price. As a result, they fail to appreciate the reason why Bitcoin became as valuable as now. So instead of buying when the price of something really precious has come down, they begin to imagine far-out scenarios.
June 04, 2021, 05:53:12 AM
This was especially very good for HODLers to buy more Bitcoin. I also bought some more as a HODLer. But this period has been really bad for short-term investors. They've lost a lot of money before reaching their goals.
June 04, 2021, 05:51:55 AM
Bitcoin's drop from 65k to $30k is one of the best things that has ever happened.
Take a moment to consider:
-Numerous institutions sit on the sidelines waiting for your money.
-Occasionally, a crash occurs.
-News reports about it are more common.
-Over half of the value of Bitcoin is lost, but the network continues to function. Work continues on upgrades (Taproot).
-HODLing and buying the dip are more popular than ever before, according to analysts.
-The new price offers buyers a great opportunity to enter the market.
-Summer will see US banks beginning to offer cryptocurrency products.
-Banks in Germany are legally allowed to start on July 1.
It's unstoppable
Take a moment to consider:
-Numerous institutions sit on the sidelines waiting for your money.
-Occasionally, a crash occurs.
-News reports about it are more common.
-Over half of the value of Bitcoin is lost, but the network continues to function. Work continues on upgrades (Taproot).
-HODLing and buying the dip are more popular than ever before, according to analysts.
-The new price offers buyers a great opportunity to enter the market.
-Summer will see US banks beginning to offer cryptocurrency products.
-Banks in Germany are legally allowed to start on July 1.
It's unstoppable
By following your logic, BTC going from $30 to $10k would be even a better thing to happen to Bitcoin. So, Bitcoin going from $60k to $30 cannot be the best thing because there are even better potential scenarios out there. I agree with what you said above though, Bitcoin is inevitable. Eventually bitcoin will absorb every financial asset out there and it will be the one and the only.
When we are ready, we won't call it Bitcoin.
We will call it,
"The one"
June 04, 2021, 05:42:41 AM
When bitcoin rise in price, people who are waiting for a drop miss out, whereas people who are planning on selling earns more.
It's pretty neutral. There are winners and losers in whatever direction bitcoin goes.
It's pretty neutral. There are winners and losers in whatever direction bitcoin goes.
That is the exact reason on why one should plan their investments and decide whether to take the loss or the profit.
Same concept in stocks, if you purchase some stocks in a company, you should already plan on which price you would sell those stocks before its price plummets down. Another example, in the last quarter of 2019 the price of bitcoin reached an ATH of $20,000 but a few weeks on its price decreased significantly to around $10,000.
If you really do plan on long-term investment, then BTC is the way to go but you must be ready of the consequences (such as this scenario).
June 04, 2021, 05:41:06 AM
-Summer will see US banks beginning to offer cryptocurrency products.
-Banks in Germany are legally allowed to start on July 1.
-Banks in Germany are legally allowed to start on July 1.
Does the future of Bitcoin depend on how banks will position themselves against cryptocurrencies? Like many others, I do not like the fact that banks will come into a legal position to offer all these services and that in the end we have a paradoxical situation in which people use banks to buy and store cryptocurrencies in their custodial service. Maybe that makes sense with most centralized cryptocurrencies, but I would never trust a bank to be my crypto wallet, especially with Bitcoin.
Bitcoin's drop from 65k to $30k is one of the best things that has ever happened.
It depends from whose perspective you look at the situation - how do you think the one who invested at a price of $50k or higher feels? He probably thinks he’s been tricked by false promises, and if he’s sold then he’s definitely at a loss - which means he’s spreading negative vibes around him about how BTC is just some Ponzi scheme.
You need to know that events like this always have bad and good consequences, and that someone's gain is always the result of someone's loss.
June 04, 2021, 05:39:39 AM
Bitcoin price will probably start moving hard up within some months. we all new further price growth is impossible without serious price correction. many words about it in this forum also in other online forums, posts etc. etc. however most of them including me expected bottom at 40K while it slipped further to 30K. the most stupid thing to do right now is to sell.
June 04, 2021, 05:36:19 AM
Best or not it depends on each other, if they already use all his money to buy Bitcoin in the past especially on the ATH and he need urgently the money, so it's a bad decision. However if he still have money to buy the dip, this dump is a good thing.
Even though many FUDs spreading and dump everywhere, Bitcoin is still going to be adopted from many countries/service and the development is still run. This is what should be and the future is bright for Bitcoin.
Even though many FUDs spreading and dump everywhere, Bitcoin is still going to be adopted from many countries/service and the development is still run. This is what should be and the future is bright for Bitcoin.
June 04, 2021, 05:06:55 AM
When bitcoin drops in price, long term holders get to scoop up more bitcoin at cheaper prices, whereas people who are planning on selling(for whatever reason) loses an amount of potential profit.
It might sound greedy, but I actually want the Bitcoin price to fall in the short term, and stay there for a while. It allows people like you, and me who might believe in the currency more in the long term, to actually maximize our holdings. So, I actually warmly welcome these drops any time they happen, and I imagine certain types of traders also do too, as it means they can buy in bulk, and profit later down the line. Obviously, there are people like you say, that get hurt by the drops, but that is usually because they make the choice to sell at that point. They could, potentially wait until Bitcoin starts to rise again (assuming it will of course).
June 04, 2021, 04:55:28 AM
When bitcoin drops in price, long term holders get to scoop up more bitcoin at cheaper prices, whereas people who are planning on selling(for whatever reason) loses an amount of potential profit.
When bitcoin rise in price, people who are waiting for a drop miss out, whereas people who are planning on selling earns more.
It's pretty neutral. There are winners and losers in whatever direction bitcoin goes.
When bitcoin rise in price, people who are waiting for a drop miss out, whereas people who are planning on selling earns more.
It's pretty neutral. There are winners and losers in whatever direction bitcoin goes.
June 04, 2021, 04:43:21 AM
Bitcoin's drop from 65k to $30k is one of the best things that has ever happened.
Take a moment to consider:
-Numerous institutions sit on the sidelines waiting for your money.
-Occasionally, a crash occurs.
-News reports about it are more common.
-Over half of the value of Bitcoin is lost, but the network continues to function. Work continues on upgrades (Taproot).
-HODLing and buying the dip are more popular than ever before, according to analysts.
-The new price offers buyers a great opportunity to enter the market.
-Summer will see US banks beginning to offer cryptocurrency products.
-Banks in Germany are legally allowed to start on July 1.
It's unstoppable
Take a moment to consider:
-Numerous institutions sit on the sidelines waiting for your money.
-Occasionally, a crash occurs.
-News reports about it are more common.
-Over half of the value of Bitcoin is lost, but the network continues to function. Work continues on upgrades (Taproot).
-HODLing and buying the dip are more popular than ever before, according to analysts.
-The new price offers buyers a great opportunity to enter the market.
-Summer will see US banks beginning to offer cryptocurrency products.
-Banks in Germany are legally allowed to start on July 1.
It's unstoppable
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