Topic: What do you intend to tell loved ones about the bear market? (Read 356 times)

First of all make your family members understand that Bitcoins aren’t sure money. In fact if you invest anywhere, let it be gold or property or forex, the chances of losses are present everywhere. Yeah we can minimise the risks involved, but whenever we invest there are hope for losses and profits. Similarly tell them to wait for longer period of time as Bitcoins are particularly for long term investments. Moreover also show them the marketcap of Bitcoins and the past growth graphs.

We are not that heavily reliant on cryptocurrency, so mostly we are not very affected by it. My wife and other close friends were aware that I was involved in crypto, but I never explained it to them; sometimes, on occasion, some of my friends will ask me, "You're probably rich now because you've been in crypto for so long," but I simply respond, "The market is down, so I've lost a lot of money," and laugh. My wife is mostly aware of the situation and will just ask why the price keeps falling, and I will just explain to her what is happening and she will just understand.

Very few people know about my involvement in crypto and I intend to keep it that way. My family knows and only a handful of close relatives. The rest wouldn't even understand it, let alone take investment advice from me. A few friends who I have a long history with know that I am into bitcoin, but they also know I don't like to brag about it and if they have questions for me, they can talk to me about it in private and not cause heads to turn in public.

I have no plans to explain the bear market or bitcoin's volatility to outsiders. My family isn't concerned because my investment in bitcoin is my investment, and it will never affect our financial stability or future. I don't gamble with the things that are important.

When you say this, I feel more like shirking responsibility. You should tell the other party clearly: Is Bitcoin OK or not? It's not that you have to bear the risk yourself. I have been very consistent with the people around me, insist on holding it, and sell it after three years, and the bull will get more than 10 times the income. Now is the perfect time to get your hands on Bitcoin.

I think transparency is everything. You just have to be honest with your family and friends and explain them the real reasons why we are living a bearish market this year. Some people may get upset on you if they were introduced and encouraged to invest in bitcoin by you, and it's understandable, but they also should understand this is a volatile market which lives from cycle to cycle. The prosperity cycle ended in 2021 and now we are living a weak cycle. You can mention this has already happened before, so it doesn't mean the end of bitcoin, rather we are just waiting this cycle to finish to enter a new prosperous one, which must come with next bitcoin halving in 2024.

That that's just how the way it goes...? I've recommended crypto to a few family and friends before and I've already dumbed it down to them multiple times, that the market doesn't always go the way you want it to be, and if it crashes so be it, that's just part of the cycle. There may be some news that affects it temporarily in the short term, but they can easily know about it with a bit of reading on news sites imo. More than that after that initial talk, I told them I won't bring crypto market discussions that much (ever even if possible) to the table since I myself am not really skilled in reading it nor do I actively study it (since I just DCA).

actually this is why I don't need to explain those things for them because before I teaches them about crypto and investing here? i firstly introduced to them about the bearish season and that is also the reason why they are ready about those act.

actually nowadays? those people that i thought about crypto investing ? acting to accumulate more than they wanted to sell and that is how important in luring investors , tell them the saddest part of the market so they knew or can understand how it happens and when.

I do not understand why it seems to be implied that talking about this market should be mandatory, in my experience if there is a thing people hate is being told what to do, and if there is something they hate even more than that is to be told what to do with their money.

Other than very general questions I do not tell my family about the state of my finances and what I do with my money, and obviously I extend to them the same courtesy, so unless they ask me directly about this market I do not feel any need to bring the topic to them, especially during the holidays in which money topics should be the last thing you bring in any conversation.

Well, let me answer this by broadening the term "loved ones" to include any relatives and bigger friend circle. Then my answer is: Nothing. I have long since given up to discuss Bitcoin in these circles, mostly because it's always the same and no-one really wants to change or really get into it (the topic I mean).

Well, sometimes, when the bear market is so strong (like after the FTX-crash) that it hits mainstream media, I get a concerned look and maybe a comment like "Bitcoin lost over 75% of it's value compared to 1 year ago, right?". Which I like to respond to with a "yes indeed, means right now is a 3x better time to invest than one year ago".
But generally speaking, people just like to FOMO in when Bitcoin is high and not even touch it with a stick when it's low. I got used to it over the years.
Yes, rarely you get someone truely interested and ofc I like to explain things in more detail then, but that's a true exception. Generally no-one cares enough to "take the risk" or "take the time" to do the necessary research. And nowadays I tend to keep my enthusiasm, even though still there, to myself and maybe a handful of people.

If you mean real "loved ones", actually I also don't tell them much, unless they are interested right now. The FTX-drama made for a good story, undermined by some of the mega-funny photos of these protagonists ands their insane quotes... Yeah.
But these few already know that a bear market is part of the "natural" cicles of these markets and usually they are not too worried.

To be honest, they won't ask. I rather not talk about it with family because they may want me to help them invest or invest for them and I don't want to be responsible for their money and life choices.

They know I'm into bitcoin and they know I won't be their portfolio manager so that's settled.

Fortunately they did not ask me about FTX and all this drama but if they would I'd be honest with them. There are scammers in the fiat world and there are scammers in crypto and this has nothing to do with blockchain and the way bitcoin helps you be your own bank. Scammers go down and 10 years from now nobody is going to talk about some young scammer who got 20 years in jail.

Also, 10 years from now people will be worrying if bitcoin manages to hold the lows of 200 thousand dollars or fall lower in the bear market

The bear market is not going to be forever so we need to know that and keep it to yourself. The market is going to move bull or bear soon so that the market does should not control our emotions that is why we need to be strong even in the bear so that we might not be forced to sell our holdings when the market goes down. We need to keep looking for opportunities.

I have nothing to say on this because indeed it is already a decision and the people closest to me who have the same interest in bitcoin already know what they have to do so I don't have to bother to give them words to hold back bitcoin them now because they know this stuff a lot more already.
Precisely in this case they always tell me that this is a natural thing to strengthen me to survive until now and continue to do DCA for the last few months.

Dont know on why people cant just recognized these small steps or simply saying that it wont really be that relevant for making people to check out this place or something that
you are the ones who do make out some simple explanation even with the basics in regards about Bitcoin or crypto as a whole? Its better rather than have no idea at all.
Telling them the basic concept on how a market works and on what are the things that you could possibly be able to experience on the time that you do stepped your foot on here.
Its up to you on how you would really be able to make out that explanation whether make it complicated or not.

That it's only gonna take some time soon the market will bounce back and becomes stronger .

Post it here in the forum gives some benefits (you should know that already)
On a serious note - teaching BTC to families and friends does not give any benefits directly but it helps to improve the awareness of btc to as many people as possible indirectly. I think this is the greatest reward for all btc supporters. 

People get excited because they'll be teaching their siblings or family members a new way of investing that's less stressful and can give them massive profit in the shortest time possible if they're patience enough to hold onto their Bitcoin. 
People hardly teach about the benefits of carrying out transaction in Bitcoin instead they teach about the profits that comes from holding Bitcoin and that's where the excitement come from. Don't blame people for getting excited, many lifes has been changed because of this new currency that is yet to be as popular as we think.
We have billions of humans on earth and not a quarter of those have heard about Bitcoin. Also it's more fun and believable when someone who has been impacted by Bitcoin is teaching it to you directly instead of some online user that you read their stories on the web.

Unfortunately the bull market was cut short. It was the worst performing bull market in history, so not that many people made money. If you bought bitcoin when the bull market got confirmed, so after it moved above 20k, you only made 3x your investment. That's nothing when you compare it to 2013 or 2017.


I never tell others to invest. It's their own choice. I also don't focus on the price. When someone asks I tell them that bitcoin is going to be big in future and that I'm waiting for it to be worth over 100k, but what they do with this knowledge is up to them. I don't care about fiat gain. I care about the things I'll be able to buy with my bitcoins, circumventing the corrupt fiat system.


I don't care about scams and I don't focus on them because I never invest in any of them. I've been here when bitcoin was worth $300 and I haven't lost a single satoshi on scam exchanges and imploding ponzis. When I talk about crypto I mean bitcoin.


Make them aware that bitcoin is falling because the dollar is being pumped by the FED. The whole stock market took a hit and bitcoin is a part of that. Make them see the difference between crypto scams and bitcoin. Bitcoin moves in cycles and a year before halving it's price is always low. The natural cycle of bitcoin coincided with FED tightening and we're experiencing the results.

Luckily, no one has ever asked me about the situation of the crypto market. But if ever someone asks me about it, I'll tell the whole thing and what it looks like and will say that those events really happens on this market and not only in crypto but also elsewhere in other markets.
There will be the booming side of it but there will also be the bad side of it. And if they will ask me if they want to invest, I'd say if they want to and won't have words of encouragement to them but I'll tell them that no matter what happens to the market, I'll stay and keep invested on it.

I think before anyone venture into bitcoin investment he or she might have known the risk involved while investing their money much question would not arose from them knowing the does and don't of the market. I still believe they have access to the internet, twitter and any other social media platform today that carries or conveys information concerning about bitcoin so you won't be blame for the sudden drop of the bitcoin moreover You and I doesn't really control the bitcoin and crypto prices. One thing i do love about myself is that i don't actually make it compulsory you must invest in bitcoin or trying to make them go against their wish to invest, before anyone invest through me i would first tender them the rules and regulation that follows the crypto and bitcoin market then i will give you time to think about it before i could even show you how to buy bitcoin by yourselves and not me to avoid the story that touches.

My father spent his Christmas with me and my brothers. He did talk to me about the world market going down. He invested some into our local stock market. So there was no talk about bitcoin and its price which is down too. But if ever someone asked me about it then I can simply tell them about the bad news something that is also happening in the world market. Our local stock market is more fucked up than bitcoin right now which is why I am considering transferring some part of them to bitcoin since I feel more confident of it bouncing back, especially in the coming halving. I am honestly losing hope in our local stock market so even bitcoin at its lowest stage after its ATH is still better.