Topic: What do you intend to tell loved ones about the bear market? - page 2. (Read 356 times)
I entered the currency circle through a friend's introduction. My first investment was my two months' salary, and I lost all my money. But I didn't blame anyone. It was my own inexperience, and I was mentally prepared.
There are not many ground rules for investing, it's just about how we manage all the risks involved due to market volatility. People will ask, it must exist especially since they already know about our activities as people who invest in bitcoin. Profits and losses are a consequence of investing, and I think everyone will understand that. So of course it doesn't matter about one's reaction regardless of whether we lose or gain.
I don't understand why people are always very excited to teach about Bitcoin to their love or close relative, you don't get any benefit, but actually you will receive many risk and bad thing happen in your life.
I don't understand why you started asking like this after you know bitcoin and use forum since 2020. This sounds weird to me. Even now that bitcoin has passed its first decade, not everyone knows about bitcoin. As users who already know a few things about bitcoin, you can tell them what are the advantages as a currency and what are the advantages as an investment over fiat and gold and other investment assets.
This is not a good thing, and it is thankless, because some relationships will be affected by money. In this bear market, some newcomers who are new to the market will not have enough patience and will easily lose money. If your friends enter because of you After the market loses, it may blame you.
I will truthfully tell my relatives or friends about the temptations and risks of the encryption market. This is the way investment is. If they can accept the risks, they have to get their share of the meat, but I cannot guarantee that they will be rewarded.
I don't understand why people are always very excited to teach about Bitcoin to their love or close relative, you don't get any benefit, but actually you will receive many risk and bad thing happen in your life. Bitcoin isn't a new thing anymore, almost everyone already hear this word and each person has own device to search this on google. No need to teach them, they will learn it yourself.
Also please stop using the word "gospel" when telling people about crypto/bitcoin.
That has been corrected, though I've never used such word to address cryptocurrency to anybody. However, didn't know how it makes some people feel just added it to my thread to better explain the write-up.
What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?
If the price is falling we can say people are cashing out to buy gifts and family needs during festive, and if the price is increasing then we can say, people who got their bonuses are investing their extra money to Bitcoin. Honestly, these kind of explanation are just assumption, we never know the real reason unless we do a survey to everyone but the thing is the demand and supply often give us hint on what speculative reason we have to say.
You've got a nice response, but the bear market started long before the festive season. It's just a clear fact that cryptocurrency has no specific time to go bullish or bearish, because this was the period the price started moving up in 2020 then skyrocketed in 2021.
I will not tell my relatives, because it is difficult to make a correct judgment without entering this industry for a certain period of time, and 99% of people who enter this industry have to experience a very cruel side. Some people can still stand up, and some people will completely collapse Down.
During the 2021 era bitcoin price flourished and many investors made lots of profits, out of love for our family and friends it’ll be improper not to preach the crypto gospel to them. Even when they’re asking so many question and ready to invest into the market to earn like every other person did. Though I could remember, sometimes last year, telling the writer of my project who asked multiple questions about bitcoin not to buy bitcoin at 50k as he may not gain profits yet. Some of us may have inspired their loved ones to invest into bitcoin. What do you have in mind to tell them about the falling price of bitcoin during the Xmas Dinner?
Coin market cap made an article about this and how to explain things in details for them to understand. Beginning with the Terra fall, Three Arrow Capital, Celsius, down to FTX who tried to save the market, but ended up tearing the recovering bitcoin price apart. Don’t forget to add the Russia-Ukraine war as an attribute to the bear market.
What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?
They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?
https://cointelegraph.com/news/xmas-dinner-table-what-to-tell-your-family-about-what-happened-in-crypto-this-year
It is because it is a bear market now, so I told my friends that I can buy some bitcoins appropriately. Although I think this is uncontrollable, I still have confidence in the market. I think this is the right time to enter the market Yes, I know they may lose money, but I still don't want to be a person who doesn't care about others. Coin market cap made an article about this and how to explain things in details for them to understand. Beginning with the Terra fall, Three Arrow Capital, Celsius, down to FTX who tried to save the market, but ended up tearing the recovering bitcoin price apart. Don’t forget to add the Russia-Ukraine war as an attribute to the bear market.
What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?
They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?
https://cointelegraph.com/news/xmas-dinner-table-what-to-tell-your-family-about-what-happened-in-crypto-this-year
If I were asked about the state of the bear market, I would reply that it is time to start investing in crypto as most of the coins are dropping in price so people who are new to crypto can start buying it and making it their investment. But they have to have a plan on how they are going to start buying it and I always recommend buying crypto gradually so that in the event of a further decline, they can keep buying cheap. And I advise them to stay calm and always watch the market to find ways to buy at a lower price.
My relatives are more bullish on Bitcoin than me, they are convinced it will go up and up and constantly tell me to save the coins and don't sell them now. But even if it was the opposite, I wouldn't be bothered, because I only invest my own money and never any money from the family budget or something like that. Remember the golden rule of investing "invest only what you can afford to lose". Sometimes the "you" part must also be stressed.
what I will tell my family or friends about the bear market, of course I will say to my family or friends, that is, we must be strong before we make a profit, and must have positive thoughts, because if we sell during a bear market it is a big loss. and also in investing in bitcoin and crypto. we have to take the risk. that is
loss or gain.
and I will not relate about the conflict between Russia and Ukraine.
because from the past also bitcoin and crypto cycles. it is like now. that is, there are ups and downs.
loss or gain.
and I will not relate about the conflict between Russia and Ukraine.
because from the past also bitcoin and crypto cycles. it is like now. that is, there are ups and downs.
If in 2021 you've already explained Bitcoin to them without bias, I think there is no need for further explanations now. They must have already understood that there is a bull and bear cycle in Bitcoin. The price jumps high and corrects and then consolidates and bounces back up again. That's the reality with Bitcoin. If an ATH is reached, that's when you consider selling. And when the price falls hard, that's when you consider buying.
But if in 2021 you only hyped Bitcoin because it went as high as $69,000 and didn't briefed them of the reality of Bitcoin's price, then they aren't aware and possibly caught by surprise. You really need to talk about it today, that it is normal and there's no need to panic. If at all, they would even consider stacking more while the price is cheap.
But if in 2021 you only hyped Bitcoin because it went as high as $69,000 and didn't briefed them of the reality of Bitcoin's price, then they aren't aware and possibly caught by surprise. You really need to talk about it today, that it is normal and there's no need to panic. If at all, they would even consider stacking more while the price is cheap.
There is a technique to follow someone in anything that requires money. When financial issues arise, my family members can occasionally be dramatic. When they haven't inquired, I wouldn't dare to start educating them (family members) about bitcoin. However, if they were interested, I would inform them of the risks associated with bitcoin and what they need to know about it. I don't want to put myself in a position where a family member accuses me of causing their or future cryptocurrency misfortune.
I just make them understand the ongoing situation as well as the growth that have taken place through years. So, they'll understand the growth as well as the drops that have happened. It makes them clear that bearish and bullish move out of the market is common thing. It is our responsibility to get adopted to the market and find possible chances to make the best amidst the market situation.
It is always advisable to spend what one can afford to loss, and it is a must to understand one's need, and the ability to hold before making an investment. Because, only the person who have the patience and ability to withstand experience the success.
This is what I'm doing on which it is really that impossible that they can't able to understand and make out some differentiation when it comes to price on all over the years which we can say that we've been able to move and increase for how many folds and of course you should make them realize that a certain market does have a bearish and bullish cycle which it is really that just normal and it's better not to easily freak out when it happens.Instead it would be wise if you do see up some opportunities on this one.It matters on how well you do explain it to them. It is always advisable to spend what one can afford to loss, and it is a must to understand one's need, and the ability to hold before making an investment. Because, only the person who have the patience and ability to withstand experience the success.
The bear market is surely coming to an end. In the past couple of months from around 10 crypto related news approximately 5 had a negative tone, 4 were neutral, and 1 were slightly positive. It's a good indication for the market cycle. The capitulation already happened. It can hardly be worse than this. So this is the best time to accumulate. 2023 should be similar to 2019 in terms of price increase.
Whenever I have some relatives or even close friends who would ask me some crypto or market related question,
I would just explain to them what I know about it in the simplest form that they could also understand.
I have some non-crypto friend or relatives who are interested in it so I would just give out example that they could easily understand.
The key to it is knowing how much they know about the topic.
I would just explain to them what I know about it in the simplest form that they could also understand.
I have some non-crypto friend or relatives who are interested in it so I would just give out example that they could easily understand.
The key to it is knowing how much they know about the topic.
The say that Bitcoin has Bearish and Bullish cycles. So it's not just about FUD and various negative news, but indeed now is a bearish market where the price of Bitcoin will continue to fall to its lowest point, which we can't predict. Also say that in this Bearish era investors usually do DCA, to buy Bitcoin in several price stages. So that investors are able to collect more Bitcoin at a low price. However, one thing that must be done by investors is that they continue to be patient with the current conditions. The new market will start to rise usually after the Bitcoin halving period which will probably happen around 2024. Indeed, we have been waiting a long time for a bullish while the bearish period is very long. However, this does happen in the crypto market. Don't panic and stay patient. As long as we hold Bitcoin, it will be safer than altcoins.
I just make them understand the ongoing situation as well as the growth that have taken place through years. So, they'll understand the growth as well as the drops that have happened. It makes them clear that bearish and bullish move out of the market is common thing. It is our responsibility to get adopted to the market and find possible chances to make the best amidst the market situation.
It is always advisable to spend what one can afford to loss, and it is a must to understand one's need, and the ability to hold before making an investment. Because, only the person who have the patience and ability to withstand experience the success.
It is always advisable to spend what one can afford to loss, and it is a must to understand one's need, and the ability to hold before making an investment. Because, only the person who have the patience and ability to withstand experience the success.
Actually I don't do more of talking but rather encourage them because most persons I've convinced into joining crypto, were all well educated of the risk involved because just as I told them to buy now as the best time to buy since we're in bear market, I always make emphasis on the fact that just as there are possibilities of you waking up to double the price of your capital, same thing can also happen and you'll wake up with a blown account ad that is why it is referred to as volatile and with this alone I've shaded away a whole of talks because what ever they do after this plain truth is now at their risk and nothing is guaranteed over here.
I also ensure to teach them how to study the market and do almost everything by themselves.
I also ensure to teach them how to study the market and do almost everything by themselves.
I think it's a very simple thing to do. At least, they could see what's going on in the market with there very own eyes. I have a family member I brought in and not for once has he dared or bothered me on the on going bear market. That's simply because, he understands.
Where most of the errors are made is bringing in individuals with the get rich quick ideas, people who only see cryptocurrency for what they could acquire and not the risk that surrounds there choices. You ought to make them understand that it's not all rossy out here and they could lose too and lose big.
It all depends on what they are being told at the initial phase of being introduced. Should you have projected the lose more, then it would be a lot more easier to explain what goes on in a bear market. Best to let them know, they don't lose if they don't sell. When it happens to be alts, then it might either be a matter of cut the lose or be ready for whatever becomes of your investment. Its just that simple, the market is in phases and the bears offers you a buying opportunity so, don't lose by selling instead, you buy and hodl.
Where most of the errors are made is bringing in individuals with the get rich quick ideas, people who only see cryptocurrency for what they could acquire and not the risk that surrounds there choices. You ought to make them understand that it's not all rossy out here and they could lose too and lose big.
It all depends on what they are being told at the initial phase of being introduced. Should you have projected the lose more, then it would be a lot more easier to explain what goes on in a bear market. Best to let them know, they don't lose if they don't sell. When it happens to be alts, then it might either be a matter of cut the lose or be ready for whatever becomes of your investment. Its just that simple, the market is in phases and the bears offers you a buying opportunity so, don't lose by selling instead, you buy and hodl.
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