What will you do if bitcoin crash? - page 14.

MoonOfLife

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Bitcoin is a risky investment, the future of bitcoin is still a question mark, so I wouldn't be surprised if bitcoin crashes. If bitcoin crashes, then I will redirect my investment to stock and forex back because I dropped those 2 markets to invest in bitcoin, I will come back to them if bitcoin is gone. All are tools for investment, we must always be ready for the worst case scenario because investment always involves risks.

freedomgo

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

First of all, we can't really compare bitcoin to an unknown coin called BARAZAR. Although, I know there's still a chance that bitcoin will suddenly crash but the said chance is really slim as it is highly unlikely to happen especially this time that it has been known and been adopted by most countries in a worldwide scale (adopted by people, not government). But since you're asking if that happens, you won't be poor as long as you only invested some funds that you can afford to lose.

DanWalker

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Quote from: Ndabagi01 on February 18, 2023, 08:40:47 AM

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

This is an illogical question, so I'd better not imagine it because even imagining it can scare one out of his pants and cause him to abandon the cryptocurrency market. A thought like this should not occur to anyone who is familiar with cryptocurrency and how it has grown over the years. I understand you're seeking people's thoughts on how they'll feel if this occurs, but I'd rather not think of anything that will harm me or my health.

If you are investing in bitcoin with money you can lose, then these questions should not worry or frighten you, as we all know that bitcoin is a very risky investment, it can go away and crash at any time. It would be a great loss for me if Bitcoin were to disappear one day. But it won't affect my life too much because I'm investing what I'm willing to lose, and I'm very comfortable with my investments. And I believe that will never happen, I believe in my choice.

Ndabagi01

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

This is an illogical question, so I'd better not imagine it because even imagining it can scare one out of his pants and cause him to abandon the cryptocurrency market. A thought like this should not occur to anyone who is familiar with cryptocurrency and how it has grown over the years. I understand you're seeking people's thoughts on how they'll feel if this occurs, but I'd rather not think of anything that will harm me or my health.

posi

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Quote from: Numeral on February 18, 2023, 05:42:44 AM

Most people working in crypto will definitely not become poor. Everyone has other types of assets. These assets would be a safety net in the event of a bitcoin crash. If you still keep everything in bitcoin, then think about it, maybe you should differentiate your assets.

Most people know that investing is very risky, so I don't think people will invest all their assets in a single asset, be it bitcoin or any other investment. So if bitcoin crashes, I don't think it will be too serious because we only lose a small portion of our assets. But if someone invests all their wealth in bitcoin, it is an unwise decision, I don't think many people will do so. It's not trust, it's blind greed, bitcoin's crash is highly unlikely, but there's no guarantee it won't crash.

michellee

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If bitcoin crashes today, I can still survive and will use the moment of the crash by buying more bitcoins. I still have money in my savings and also still saving to invest in bitcoin. So it doesn't really affect my life. Maybe I can't be rich yet, but I can still make ends meet in my daily life. That is why we must manage money every month so that our budget does not interfere with the allocation of funds.

The selection of an investment program also has an important role that can help us get something in the future: a profit from the investment. And if we choose the wrong investment, we will not be able to benefit and lose the money used as an investment.

Numeral

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Most people working in crypto will definitely not become poor. Everyone has other types of assets. These assets would be a safety net in the event of a bitcoin crash. If you still keep everything in bitcoin, then think about it, maybe you should differentiate your assets.

AicecreaME

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

First of all, not because you invested in Bitcoin means that you're a poor one or a rich one. Investing in Bitcoin is a choice, no matter what status you have in life. If you're gonna sold your house and expect a mansion overnight because you invested in Bitcoin, then you're gonna be homeless for a while since bearish market is not that quick.

Before investing in Bitcoin, better be sure that you know what you're doing to avoid disappointments and consequences.

Ludmilla_rose1995

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Bitcoin is not a ponzi scheme, bitcoin is not multi-level marketing so that's why to worry. I currently have 60% investment savings in bitcoin and I'm not worried about that because I see a very good history of bitcoin prices and also that no one can stop it, including the government, so I'm sure about the long term of bitcoin.

chmod755

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Quote from: Poker Player on February 18, 2023, 05:34:31 AM

If by crash you mean that the price goes to 0 and disappears, you are talking about an extremely unlikely scenario.

Not this year or next year, but the price will most likely be 0 in a thousand years - with new technology replacing everything we know, Bitcoin will look like a thing from the stone age someday.

Poker Player

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

If by crash you mean that the price goes to 0 and disappears, you are talking about an extremely unlikely scenario. But for the sake of argument I will say that in my case I am quite diversified and it would not affect anywhere near as much as the people on the forum who have all or almost all of their net worth in Bitcoin.

If we are talking about a crash like many other times, well, nothing, in the end Bitcoin recovers and in the long term continues to rise.

jaberwock

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Quote from: nidacoinlove on February 18, 2023, 02:28:05 AM

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich.

I can't state my position being rich or poor but one thing is sure that I will start buying more amount of BTC if it crashes.

If you still can be able to buy more Bitcoins when the price dips then that only shows that you are not poor yet. In investing we are being told that we should only invest what we can afford to lose. I think majority of the people follow this, and then when Bitcoin crash one can still be able to hold and wait for a recovery so we are not technically a loser. In the case of the OP's friend, it looks like he invest on a shitty or scammy project.

It's unlikely that he can recover even if he choose to hold and not sell. That is not the fault of Bitcoin's crash anymore, and even if let say Bitcoin pumps, the same faith are still going to experience with those types of projects.

nidacoinlove

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich.

I can't state my position being rich or poor but one thing is sure that I will start buying more amount of BTC if it crashes.

Quote

Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage.

It is due to the lack of education and experience also greed to become rich overnight. It's very essential to manage a portfolio for your wealth. Ratio of investment in digital assets should always be no more than the bearable loss.

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So I ask again if bitcoin crashed today what will be your description rich or poor?

my answer will be the same as mentioned above.

lovesmayfamilis

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You describe the situation as the collapse of a lifetime. What will happen to your destiny? A very loud statement. I do not keep all my assets in bitcoin, and I do not make a religion out of it, so if something can happen, it will not be a global catastrophe. The idea is always supported not to keep all the money in high-risk assets; only greedy people who think about eternal profits go to buy bitcoin, investing all their money, without thinking at all that if such a situation happens, they need to think about what they will be left with.

Yatsan

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The right thing to do is to sell and jinvest again at the bottom. It is just a matter of taking advantage of what is happening in relation to its nature of market price volatility. The crash won't be from $24k to $10k in a snap so I guess there would be a safe exit. Than to just hold because of pride, and wait for another bullish trend. In such way, profit qould be bigger but I won't judge those who are into long term investment. They are the ones who would hold no matter what happen 'coz it is still profitable given that based on charts the market price of Bitcoin is consistently increasing over years. But as I've said, if you are into bigger profit then move as in line with price volatility.

BitDane

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

I only invest my money that I can afford to lose so basically Bitcoin crashing won't affect me much. I never sold a house or any asset just to buy Bitcoin in huge sum. So I can say that I am among the people who won't mind if Bitcoin crash today since I can just consider and think that I lost in a gambling games. Besides, if Bitcoin crash today, I am sure it will surely recover in the next days.

Btw, we only incur losses if we sell our Bitcoin but holding it and waiting for the next ATH, so better not too impatience and wait for the Bitcoin market to recover and surge before cashing out.

zaki12

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Quote from: 19Nov16 on February 17, 2023, 09:32:42 AM

Quote from: browsiek on February 17, 2023, 01:41:55 AM

that's why when you are going to invest, don't pour out all the assets you have. Shouldn't we know from the start that if we jump into the world of investment there must be consequences which can make us gain or lose. thinking things through carefully is the most appropriate step so when we experience a loss we already know what we will do.

Bitcoin can crash at any time, yesterday the price rose by more than 12% but today the price dropped by more than 3%, this is normal because the decentralized system depends on demand and stock in the market, when demand increases the price will rise and vice versa, and it should be the most important thing is to get profit from the moment the price goes up or down.

Yes that's right, Crypto didn't crash like a business, it just lost X% of its value. i stick around for the long haul when Bitcoin and crypto markets are down, i panic buy not sell.

What will you do if bitcoin crashes? it's like we listened to people like that 10 years ago, many of us are millionaires today. For me Bitcoin trading is the best investment anyone can make. Because it can make you rich in the blink of an eye as long as you don't panic sell.

Fivestar4everMVP

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Though i am hoping that there will never be a reason as to why bitcoin should crash and never rise again, because i know that I have almost all my investments on bitcoin and some other altcoins, infact, 95 percent of my live investments is in crypto currencies, so in as much as it is hard to say or believe, I would agree that, if bitcoin crashes today, which also will affect the entire cryptocurrency market, then I consider myself poor , this is all that there is to it, there is no need beating about the bush, Bitcoin, as well as cryptocurrencies in general controls my business, if it crashes, it simply means my business has crashes, but yeah, i believe it never will, this is an imaginative question with imaginative answer.

AmoreJaz

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Quote from: Woodie on February 17, 2023, 05:02:26 PM

I think most here will agree with me that a bitcoin crash isn't their first rodeo and anything like this to come won't shake them either..

If you must know bitcoin is like riding a bike.. you fall off it get up and get back right on it and continue the journey... It's all about not having a quitters mindset!

Besides bitcoin is cyclical in nature and a crash or is it a dip is very normal as this helps it build the momentum to moon.

if there will be crash, then just wait for the btc market to recover before you sell anything. but just to answer OP's question, won't affect me much. as i have my other assets other than btc. this is the reason why you always need to diversify your portfolio. you can never be sure of your investments. so if something goes awry with one, you still have another back up. don't put all your savings in one asset.

bestcoins1

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Before I answer your question or before we talk further, it's better if BARAZAR is not equated with Bitcoin. OK, if there was a crash in Bitcoin like last year, what would be more visible would be people not making any profits in the past year because most Bitcoin holders are selling half of their assets to not suffer a bigger loss.

And on the other hand there are also many people who take advantage of low prices by buying as much as possible for better profits in the near future, because Bitcoin always has more potential to increase after a price decline. So if Bitcoin falls like I saw it last year and in 2018, I only see the less fortunate, not the rich getting poor.

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