Topic: This is why I'm not worried about Bitcoin price. (Read 572 times)

I don't need to lie to myself, I only do what I can afford. I explained my situation clearly so not sure why the judgement that I need to lie but okay I take the opinion.  Money was lost temporarily surely, but when bitcoin was at 20K a lot more was made that have been kept already  

Anyone with significant exposure to BTC should be worried. We just spent 8 months ranging, then violently broke down. Nearly all buyers this year are sitting on losses.... that's a huge impediment for price. Bounces will be sold into.

My cost basis is actually negative (taken out more than put in), but I'm worried too. Given time and volume considerations and based on past bubble crashes, price could drop in half from here pretty easily. Trading in the $6,000s was comfortable, but the closer we get to 2013 price levels, the scarier this gets.

Dont lie to yourself. Everybody is worried. At least everybody who cost-average on it.

Also, you probably already tought that your previous work was underpaid, since that money lost its value.

Let's not take some things for granted because you will never know what will going to happen to you in the future. So, we should still trust our guts in making decision in the market. Volatility of cryptocurrency is very high and unexpected so we should get ready to this or we might find our self full of regrets in the end.

Well, maybe we should see how that will work out for you eventually. I am hoping as you are saying this, you are all out already, so in a way, if all you care about is seeing bitcoin experiencing a slow death, you might as well just stay in fiat and enjoy your inflation for all we care.

I have no idea where you got the gist that LN has failed, so let me just assume you came up with that from what you saw in your dream. Scaling or not, bitcoin still stand a great chance, take it or leave it.

I'm also not worried about the bitcoin price because I consider bitcoin as a payment solution regardless of the price. I don't care whether the price is $1k or $100k I will always use bitcoin regardless of price no matter the situation.

as they say over in the chantry:
"The deep dark before dawn's first light seems eternal, But know that the sun always rises".

right now we are seeing the dark stage of market where newbies are losing hope and handing over their bitcoins to the whales who are happily accumulating bitcoin from them. this is the "deep dark" and before you know it the first light will shine as the newbies are all asleep. then when the sun is in the middle of the sky they wake up and realize what they have done the night before

If you're purely speculating in the short term prices of bitcoin, then you probably shouldn't be in the market in the first place.

But you're absolutely right. The Bitcoin market has always been volatile and bull markets and bear markets has always been common, and this bear market is no different imo. What bitcoin investors should be focusing on is the long term where I believe there is potential for bitcoin to be universally recognised as a store of value, if not a universal online standard of payment. As demand increases, so should the price in the long run.

I think that the panickers right now are likely the ones that bought with the FOMO in last year's bull market, which was clearly not a wise thing to do. To be completely honest, I'd just dollar cost average and buy right now given the prices are under $5k at this stage which will prove to be extremely cheap given the institutional interest already showing.

I am kind of worried, worrying is not some sort of bravery or something. Bravery is when you are afraid of something and still doing it nevertheless, if you are not afraid of something or worried and do that, well thats just doing something.

Moreover, if you are worried about bitcoin price but still invest in it and trusting it, that is called bravery. You can not become rich without taking some risks and without taking any risks you will stay wherever you are.

World will not give you free money, noone gives you free wealth, you have to go out and take that money from the world. You have to find a way to be worried about the bitcoin price but still buy bitcoin as much as you can afford and hope that one day that will make you rich. This is a very critical point in bitcoin, I am extremely worried about what will happen, however I do not cash out my bitcoins, never will.

Well still good news... for those who came late into the game it means they may got another chance. The market will mature eventually, some regulations will come and whale manipulation will stop. Until there take advantage the best you can because once bitcoin stabilises it may become a bit boring and unable to produce new millionaires.

I am not that worried about the price either, what really worries me is what caused the crash that we saw, because it was very sudden and very few saw any indication that something like this could happen, that is what really worries me because if the price is being manipulated by powerful individuals which have lots of bitcoins then this means the market is not as mature as I thought.

This is need of the cryptoworld who are positive people like this situation the market decreased again and we need to pump it again.
And the people we need to be eliminated is the person who are have negative feedback about cryptocurrency.

Your theory and whatever you followed and did practically is just so good I've got no words to appreciate your commendable success. It's like there are 2 types of people, one who do jobs and get paid in both Bitcoins and Fiat and have an option to save a lot by either thinking of selling small BTC chunks or use their Fiat and save BTC for long term, whilst others sell it high and don't use the money but keep it till BTC dives in and buy back for lower prices (just like this one which is a good opportunity). Few who are earning everything in BTC and have a fixed amount that's earned per week - are the ones who suffer a lot during such times. For those, your story is a paradigm and you've now set an example for everyone how to keep ourselves safe in crypto because we're invested in a very dangerous sphere that could really prove hazardous to our money.

Based on your story, we don't have to worried about bitcoin price although right now, the bitcoin price is down too deep without any chance to break the higher price. But soon, after the time comes, I am sure that bitcoin price will start to rise and the price will move to the higher price especially if many new people interested in the bitcoin investment. Many of us still waiting for the price to increase and some of us don't make something to grow because they are worried if somehow the price is down for more. But I know some of my friends still trading because they know that this is their chance to increase the bitcoin amount and make a profit at this moment.

OP is right. High or lows, you need to know how to play them on your own advantage. Those who sells their services in exchange for bitcoin for part time are very lucky if they just continue to save those payments and they will get fast easily once bitcoin gets back on its feet or crash the $20k ath in the next years.

Well there's only 1 small difference this time: people have now seen that BTC doesn't scale well and thus isn't very useful as a payment system. LN won't work for reasons pointed out several times before. This time it's game over. However it's a slow death, could go on for even another year.

There is more to come... http://imgur.com/ae9sK3J

I just miss the 2017 euphoria man...

Most people wouldn't be bothered by bitcoin price if they realized it was simply cyclical. Price rises, then it falls, then it rises again. It will be back to a new ATH sometime in the coming years and everyone will be saying it's the best thing ever.

Yes it is good to find others like us on similar situation. I believe also that bitcoin will show us eventually that it is a big win. Either we win big or we loose some, but never can loose it all. That is why I think that holding is good but need always to sell some to keep, take some reward and also it is good to circulate the currency as if we all just hold that wouldn't be beneficial either.. to much of a good thing can be a bad thing also 

Indeed, though rather than being upset, believers should be happy since this is another sign of Bitcoin getting ready to evolve and be mass adopted.  Big players knows this that is why, the moment they saw an opportunity to FUD the market they do it, and sadly they were successful.  They did that to accumulate at cheapest possible price to rake more profit when bitcoin catapulted.

Hodler will never worry since they will not sell, the only people who are worried are those that have no faith and get in the wagon due to the hype and rumors.

I'm in a somewhat similar position, earning almost entirely in crypto, and of that almost everything in Bitcoin. Ao I have to sell regularly to pay bills and feed mouths, and have generally stopped trying to prime sells at price, especially with recent months of sideways movement. In general, lose some win some though the recent dips meant I "lost" more value as sold about lower than when received. No big deal, I still feel it's always a ride up or down, and still sticking to Bitcoin. Suffered the same exposure with fiat anyway.

Whatever I managed to set aside for holding is strangely back at where it was a year ago, but that's fine too. High price means my holdings are up, low price means I get to pad up Bitcoin holdings better. So yeah, win win in the big picture.

We have seen the price rally in the last quarter of the last year that was manipulated with the involvement of big whales and institutional investors. However, the correction in the first quarter of this year not only helped Bitcoin to stabilize but also to grow in the long run.  Most of us were expecting a recovery in the market in second half of this year but somehow it is delayed but still, everyone has optimistic views regarding the growth of Bitcoin as well as crypto industry in the coming months.

Yes I agree likewise me, bitcoin is only a portion of my income around 35% the other 65% I receive in fiat currency from bank to bank transfer in my country which is obviously also fast and free, so my financial situation is not dependable on bitcoin alone.

Another thing that sometimes we forget is that a lot of people had a lot of gains when bitcoin went up, but a lot gains can be achieved too when bitcoin goes down, just need to use other avenues of investment, so for me if bitcoin at this point would go for a while really down it would hurt me on my current bitcoin hold but it would give me a huge return on other investments and those investments cover way more than the temporary current value lost in bitcoin holdings.

As for people being not upset about price drop but the reason why it dropped, again yes I agree at a certain extent, but a solid asset such as bitcoin should not be affected physiologically by alien activity on other alt coins. For me  hard forks and whales wars on selling offs big chunk of bitcoin can "manipulate" price but the quicker we get rid of these whales the faster we will get a stronger bitcoin. So that is another reason I'm not worried even if bitcoin would hit $1 again as I'm very confident it would have a new start and this time would come out stronger which I believe it will anyway no matter what the bottom price will be.

it has always been about investing what you can afford to lose. this has been said millions of times and only those who listen are winners. it is not just about the monetary gain/loss either. it is about having your mind at ease because you haven't invested your whole life in something to vanish overnight.

then you can think about things that really matter like the true potential of bitcoin. there still is 21 million coins max and owning 21BTC means being 1 in a million! that is ridiculous. I will soon bump my 1 in a million topic since this is a milestone for those who want to be 1 in a million, now is the opportunity to catch up.

There are ways to stay in business even with such a situation in the cryptocurrency market. But for this you need luck and money, because without them you will not go far

Those who are affected greatly by this sudden fall are those who don't have any other investments apart from bitcoin and cryptocurrency. One must understand that a single point of passive income is always bad, mostly if you have already invested a lot of money into it and all your money is literally frozen into that particular investment. The ones who are happy with this fall are those who have extra money laying around and are just waiting for a perfect buying opportunity again (just like me). This is also a good time to average the cost of your buys in order to get more profit if bitcoin booms once more.

I am not worried about the present value of Bitcoin. This is the time for wise ones that have funds to invest to buy them cheap. This is just the beginning for Bitcoin. I am so positive about it being a million dollar someday.

It's sad for anyone that is relying on bitcoin as a source of income, this is why it should be traded as a part time job rather than an all in type of income. Good times will return, they just need to hodl

People who can turn every crisis into an opportunity will be profitable. In fact, if we could take all our measures and turn the situation into an opportunity, instead of worrying, we would be thinking about our profits.

bitcoin is at a low price position, but believe if bitcoin can be one of the high-potential coins to be able to become a good coin and grow tall. so I think this is a good thing to hold bitcoin.

Because Bitcoin price is not only the single factor which is making popular it has lot of things to consider like blockchain technology,deregulation and more so the faith of the people behind it.

to be fair i believe most people aren't upset because of the price drop but because of the reason for the price drop. for example you can't find anyone who is truly upset because price dropped from $20k to $10k although that was a gigantic drop. but they are upset now because this is not a natural drop and the reason for it comes from an altcoin drama which doesn't even have anything to do with bitcoin.

Yes, you're right. If we decide to invest in bitcoin as a long term investment. Should not worry much about this price at this time.

I get the part of no one being able to promise anything although I personally believe that bitcoin price will go down and will come up again as it did before. However Crypto currencies are not useless it just depends on what use they have for you. As I mentioned on my previous post even if for example bitcoin would not give me any profit reward and would crash in value I would still use it for receiving overseas payments as it would still be faster and cheaper than using banks and other third parties. So in my case I have use for bitcoin and the blockchain. Crypto is not just about investment there are other advantages, but what works for me and it is of use for me cannot be for everyone as we all have different agendas and needs.

BTCagholders just BTCagholders.

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That makes no no freaking sense, you cannot guarantee that Bitcoin will grow in the future "because it is very promising" there are thousands of other cryptos and none is woth more than the trust that people put on them. Truth is, no one is using Bitcoin as a currency or as a tore of value.

Nowadays, cryptocurrencies are all useless. Pure speculation.

Yes for example payments I received when bitcoin was at $6.5K and plus have now devalued, that is why I always sell some percentage every month from my overseas payments so that I cover my risks. It's true that some months price may get only in one low direction but the opposite also happens. However what I have been experiencing is that even when price drops quite a lot (and technically I loose money), the bigger amount in bitcoin that I receive in the next month or so eventually covers for the lose or even in excess when price goes up.

Of course if the price goes only down it is a constant loss, but even if it would get so bad that 1 bitcoin would be $1 only any little jump to $3 or $4 would get me a 3 or 4 times reward on capitalising back. So even though the down direction is "negative" it is also true that the most low it gets the most close to duplicate or triplicate in value it can get.

Worse case scenario is if bitcoin would only go down from here until hit close to zero $0.0001 and never move up again, but even on that case I could still sell whatever I receive at that rate and bitcoin would still be a great asset for my business due to the banking problems I referred before. The amount of customers i would lose for waiting times and high bank fees would still in the long run even if bitcoin would loose all its value be better for me to use than the banks, unless of course there no one would be interested in buying my thousands of bitcoins for fiat currency anymore  but I think I would always find common ground there with other business and users who still want to buy bitcoin for whatever reason that may be.

So I only can say bitcoin has been for me an asset, an opportunity to earn more, but most of all a great way for me to receive fast money from overseas and keep my business moving at a pace to please my customers. I can't be upset in any way for whatever value bitcoin will get to even in the worse case scenario.

Bitcoin is really great for long-term investment. If you decided to take this, you shouldn't be bothered anymore by any news of decline. It won't matter because you're mind is set on the future maybe two or three years from now. This is the cold investment. But, if you want profit right away, day trading is possible as long as there is fluctuations and it is not always decline.

yes, and I prefer to trade in the near future to create profits, even though my profits are small. but that is my choice.

Bitcoin prices have reached 20K at the end of 2017, even that makes me not worried, because bitcoin will follow in the previous footsteps.

Of course you can try to be quite shielded in this situation, but it obviously affects you, the payment you receive right now can be devalued in 2 weeks, and so it can be consecutively with each new payment, all this year bitcoin has been falling, nothing indicates that it will rise, and if it does probably is in the halvening that will occur in another two years.

As with any business some people are able to see a niche or create one
in order to better their financial status, others however might see an
opportunity but cannot capitalise on it. It really depends on the individual.

There are definitely plenty of chances available for people to earn more,
and its nice to get a real life example of this. Thank you OP.

My estimation is that we may go as low as $2.5k and stay for most of 2019 on average $3.5K. Then from Sep/Oct 2019 onwards hit again 6K and moving up to hit 10K by end of 2019. But if the growth happens sooner or later I can handle it either way. I just think that Bitcoin is not the best asset to buy and sit on.... one got to have a plan to keep harvesting to reduce risk and my advise for those who got a business try to implement receiving payment in bitcoin specially if you dealing with overseas customers or services.

I actually when started to use bitcoin back in 2012 was due to a  logistic need and not because it got my attention. I was having a hard time with payments from abroad as my customers wanted the work to be delivered faster but waiting for about 7 business days from bank clearance and higher fees was not helping. Even I used Western union but again my bank was not for some reason happy with those transactions even though I always backed them up with my online work. So it came to a point I thought to use bitcoin just for the sake getting paid faster and almost fee-less and for a good time as soon as I received bitcoin I sold it into fiat straight away, but then when price start to move and I noticed that a $500 payment in just 2 days was already worth $650 I understood I was being stupid in selling it that fast   so that is when I changed my strategy and start to learn about bitcoin history and where it was heading to.

I think the best way to use bitcoin is to invest into something which you can control sell/buy. I think if I would have invested in bitcoin when it was at 10K or higher and waited for a big profit I would be gutted now too, so I feel the pain of those who went this way, even though this have worked for those who have entered the game "early".  I think other avenues should be explored with bitcoin and even if bitcoin hits as low as $500 or less, just see it as a new opportunity to enter the game early again.  

I'll be worried if we go below 1000 dollars because there would have to be a giant flaw in Bitcoin for us to go this low. Or Satoshi would have to sell everything on the market. The biggest trades are taking place outside exchanges. You don't even know what the real "price" is. And the real price is not the price of coins on manipulating bitfinex, but the price at which large investors are buying behind their backs to avoid fees.

bitcoin will grow in the future and you can have no doubt about it because it is very promising

I'm not worried about the price because firstly I have my own bitcoin stock which I hold and which I sell on a regular basis but in small portions to balance my earnings regardless of bitcoin be at $20k or 2K.

Secondly my customers from outside Europe pay me in Bitcoin and I always get the same amount of money regardless the bitcoin value at the time. So if bitcoin is at $20K great I get less bitcoin in payment but afford to have good return on my bitcoin savings. If bitcoin crashes to 1K it does not bother me either as I get a lot more bitcoin for each job I'm paid.

Lastly I got my private pension also invested into bitcoin via a Swedish based stock. I play with that a lot... like when bitcoin goes up even if a bit I sell my stocks and keep the cash and once it crashes I buy a whole more load of units and so my units are keep increasing since then.

So I feel sorry for those who did some cold investment, but this situation does not bother me at all, and since I have now sold my pension I kinda hoped bitcoin would go down  even up to $500 as at that point I would by craploads of units back and wait for a new sell window   not to mention the amount of bitcoin I would gather from payments on my current job which once bitcoin would just hit even 3K back would give me a huge profit.

So yes a lot of people upset about this situation but for someone like me for example I always have a win win situation no matter if it is high or low and I think some of you investors and bitcoin holders should think about ways of taking advantage rather then just buy and hope for the best. Don't be just a passive investor but an active one if at all possible.