If you have told someone about bitcoin and also told them that it’s acting volatile and has had so many bear market times and the person you introducing Bitcoin to is still interested then I don’t think you should worry too much.
But is bear, Bull and investment all you tell people about Bitcoin? Then you aren’t even fit to tell people about bitcoin because you don’t actually know about it. Teach people all about bitcoin and all it can give them aside investments.
Topic: What do you intend to tell loved ones about the bear market? - page 3. (Read 356 times)
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.
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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?
To get ready for them then we have to do our own research, see how the market performs this year and read speculations and predictions and select the one we think is the most likely to happen in the future.
I don't think it should be that had to explain to family and friends the two circles in btc i.e the bull and bear, once they understand these, they will be prepaid or understand the reason why the price always fluctuates.
No one should be made to believe that BTC will only increase price without any correction, it is better to give this information from the very beginning to be aware of the risk involved.
No one should be made to believe that BTC will only increase price without any correction, it is better to give this information from the very beginning to be aware of the risk involved.
I have said before that investing in bitcoin is risky, you can start but you have to be mentally strong to face bear markets and other situations.
Even though I have an excuse because many friends have invested in bitcoin, I have explained from the start how bitcoin works in the market, not only in bullish times but also in bearish ones. We must be prepared to face all of them, especially in their mental pressure.
At dinner I talked to each other with my friends and talked about the bearish market conditions, but fortunately they already understood the current situation. I didn't get any pressure except that they both said "HODL" and never sell bitcoins that have been traded. owned because in the future it will definitely go up again and my friend also understands about the bitcoin cycle which always has a good history.
Actually I'm still happy that bitcoin is still at its lowest price, meaning that I can still get as much bitcoin as I can buy with dollars.
Even though I have an excuse because many friends have invested in bitcoin, I have explained from the start how bitcoin works in the market, not only in bullish times but also in bearish ones. We must be prepared to face all of them, especially in their mental pressure.
At dinner I talked to each other with my friends and talked about the bearish market conditions, but fortunately they already understood the current situation. I didn't get any pressure except that they both said "HODL" and never sell bitcoins that have been traded. owned because in the future it will definitely go up again and my friend also understands about the bitcoin cycle which always has a good history.
Actually I'm still happy that bitcoin is still at its lowest price, meaning that I can still get as much bitcoin as I can buy with dollars.
I live alone all by myself. So there's nothing to tell to anyone. But I have friends who are involved in crypto. And they know the situation well, what is happening and what will happen in the future. I am glad that I don't have to explain this to them, as they already know about it well.
Unfortunately they are not in the forum as they only trade and not much interested in forum. I have tried to get them here but they are busy with life and work. One day, maybe.
But this post is interesting. I'm here to read other's reply. LOL
Unfortunately they are not in the forum as they only trade and not much interested in forum. I have tried to get them here but they are busy with life and work. One day, maybe.
But this post is interesting. I'm here to read other's reply. LOL
I am very sceptical about advicing friends and families to invest into crypto currency. When a bad lose happens one takes the blame for it. I have only discussed about how bitcoin could save us from banks centralisation but I hardly discuss the profit part of it. So if I could advice a love one already involved in bitcoin I will say it is the period to be patient and not rush off selling ones assets. It is also a period to buy more for investors planning to add more
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I would say study it before you decide and don't make a decision because of other people's advice because that doesn't guarantee it can give you an advantage. Market conditions fluctuate a lot so you have to be careful in deciding because it is your money, and you are responsible for managing it, including investing in the coins you want.
And if market prices are affected so much during the holiday period, it may be because people want to have cash so they sell their coins for fiat to spend. But surely there are many reasons why the price fluctuates or gets affected. And another piece of advice is to buy bitcoins at a price you can afford and hold on as long as you can until you see the price can go up very high, then sell immediately to take that profit.
And if market prices are affected so much during the holiday period, it may be because people want to have cash so they sell their coins for fiat to spend. But surely there are many reasons why the price fluctuates or gets affected. And another piece of advice is to buy bitcoins at a price you can afford and hold on as long as you can until you see the price can go up very high, then sell immediately to take that profit.
Those who invest in Bitcoin should understand how the price movement works. We know why Bitcoin began to fall in price. The first dump occurred when Elon posted Nagetive posts and massively adapted Doge. Then there was the Terra accident, and now there is FTX. These three accidents brought down the entire crypto market, and if anyone asks, we should explain the story behind the dump. There are more Binance rumors floating around. It's a little alarmist, but imagine what would happen if something happened to Binance. We must suffer once more, and the crypto community will be in total shambles.
If they are really curious they won't solely depend with asking people but rather will find ways to get an answer for themselves. I get the point;share what you know to encourage more people towards this industry but I just won't give advices. First of all, there is a tendency for me to be blamed gigen that there are no consistencies with this industry which nullifies any kind of advise or prediction of the market.
Whenever I give someone investment advice, I always remind them of the risks they take, so when a lot of people become reluctant holders during the bear season. I still do not want to say anything more, but I still emphasize that it is a risk in investment, if you want high profits, you must accept high risks. If they are afraid, they can sell, if they still believe, keep holding. What needs to be said I have said before they invest, not wait until now to say.
For sure you want to give an advice but it won't be that easy. Doing so would somehow create an idea that you are encouraging them towards this industry. Problem has something to do with market price volatility which could yield to huge profit loss if things wo 't be handled properly. So I somehow agree with this idea of either choosing people who you think has potential, and avoiding to do such in order to not encourage them right from the start. 
Tell them it will pass, it will pass and you get used to it soon
It does make them relax though as if the price will soon pump up again when you say the bear market of crypto will soon be over as the oversold level in RSI is close. That's just what I said to my brother and he seems to be calmer but I reminded him that the next cycle will make his BTC value double so wait a while.
What do you have in mind to tell them about the falling price of bitcoin during the Xmas Dinner?
We will not discuss things regarding finances on our Christmas Dinner, It is a time to be happy and not to reflect on what did not go as planned this year. Some of us may have inspired their loved ones to invest into bitcoin.
For many of my loved ones who were inspired to invest in bitcoins after finding out that I was into bitcoins, I made them know that as glittery as it looks, Bitcoin investment is no assurance of wealth especially without patience and knowledge. They knew about the possibility of the bear market before they joined, so as they are experiencing it currently, their consolation is that the person who inspired them to join is experiencing same market effect and hasn't quit. I encourage them.
Whenever I give someone investment advice, I always remind them of the risks they take, so when a lot of people become reluctant holders during the bear season. I still do not want to say anything more, but I still emphasize that it is a risk in investment, if you want high profits, you must accept high risks. If they are afraid, they can sell, if they still believe, keep holding. What needs to be said I have said before they invest, not wait until now to say.
Ditto. That's exactly how you can get into problems, if you present bitcoin like something that will change/affect people's life dramatically and then we reach bear market the fun starts.
When I see that word in the context of bitcoin/crypto I always close my eyes and compose myself because of the cringe. If anything, it makes us look like scammers a lot more — as if the cryptocurrency space wasn't spam-filled to start with.
I’ve been consistently telling my parents before about investing in Bitcoin during 2015 when I’m still a student and until now but they still ignoring me despite I show rhem how profitable it is using the price chart history. They preferred the traditional stock investment over crypto investment because they can’t handle the risk of crypto due to its volatility. They just ignored despite the profitability is so high.
That's actually a pretty reasonable excuse.
I’ve been consistently telling my parents before about investing in Bitcoin during 2015 when I’m still a student and until now but they still ignoring me despite I show rhem how profitable it is using the price chart history. They preferred the traditional stock investment over crypto investment because they can’t handle the risk of crypto due to its volatility. They just ignored despite the profitability is so high.
The best effort that I do for them to invest is just give them a crypto gift that they never touch since I give them last 2018 bear market. I failed to sell it during the peak because they are away with me and they don't want to touch it without me.
The best effort that I do for them to invest is just give them a crypto gift that they never touch since I give them last 2018 bear market. I failed to sell it during the peak because they are away with me and they don't want to touch it without me.
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?
Since I haven't advised a single family member (close and distant family included) to invest in Bitcoin, I won't have issues like that. As a matter of fact, I even talked few out of it because I knew they wouldn't be able to handle price volatility, or because they simply couldn't afford it.Also please stop using the word "gospel" when telling people about crypto/bitcoin.
Ditto. That's exactly how you can get into problems, if you present bitcoin like something that will change/affect people's life dramatically and then we reach bear market the fun starts. 
Till date I've given advice to few of my friends and family members. I've given suggestion to invest on their own risk and to pick the coin of their choice. Whether it is bitcoin or altcoins, it is upto them. Earlier while teaching about cryptocurrency I've briefed them with the proper chart. Now the real-time market will just let them realise the reality of the market.
Nothing. Because frankly, they don't disturb themselves with the happenings of Bitcoin. If I do that tho, I'd first of all explain what Bitcoin is to them and try to break it down to the simplest form for them to understand before they can grasp what I'm saying as regards to the bear period. So, no thank you! It's better for them to stay ignorant.
I'm not surprised at all that this came out of the shitty CT kitchen, do people still read that garbage?
If someone advised others to invest in Bitcoin just for the sake of profit, and now he is embarrassed to sit at the same table with them while cutting the Christmas turkey, then he fully deserves it. In addition, the topics of conversation for Christmas lunch/dinner should be about other things, it is not about a meeting of investors but a meeting of family and friends.
Not in my case, I don't advise anyone to invest in "crypto" in the last 5-6 years - anyone who wants to invest in such things can find enough information online. If by any chance they lose money, let them argue with their computer.
If someone advised others to invest in Bitcoin just for the sake of profit, and now he is embarrassed to sit at the same table with them while cutting the Christmas turkey, then he fully deserves it. In addition, the topics of conversation for Christmas lunch/dinner should be about other things, it is not about a meeting of investors but a meeting of family and friends.
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?
Not in my case, I don't advise anyone to invest in "crypto" in the last 5-6 years - anyone who wants to invest in such things can find enough information online. If by any chance they lose money, let them argue with their computer.
Luckily I'm that family member that does not really mingle with other family members unless asked to, and when I'm in a conversation with another family member, I try to be as concise and as short as possible in order to not be their topic just because of what I said. Perhaps if I recommended this crypto investing to a friend, then I can explain that there are a lot of factors that contributed to the current situation of the market. Great emphasis on the Terra scam and FTX funds' misappropriation as I believe these two are the greatest movers of market sentiment that sent us to where we're at right now. If not started by Terra, and not ended by FTX, we could have a great sideways market but eh, they just have to ruin the fun for most of us.
I tell them ..nothing. Because I decided really early to not shill my relatives any investment — bitcoin/crypto-related or not.
Also please stop using the word "gospel" when telling people about crypto/bitcoin.
Also please stop using the word "gospel" when telling people about crypto/bitcoin.
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