Topic: Will Crypto survive? - page 3. (Read 911 times)

Yes, this is not the first time the market has fallen and it is not the first time something like this has happened, these crashes not only did not weaken the market but also made the market more mature, if we pay attention, we can see that after each bear season passes, the market will rise again and will grow stronger than before.

Looking at the market capitalization when Mt.gox collapsed, the market cap was only a few hundred million dollars but then grew to almost 3 trillion by 2021 and this time we're under 1 trillion but I believe that after this bad news is over, the market will come back and grow stronger, I believe we will hit 5 trillion for next bull season. They will soon be as big as the gold market and will stand side by side with the stock market in the future.

It only shows that earlier people in cryptos are much brave because they hold on despite the cryptos are still a new thing that time and they are not aware if what can come next. People in cryptos today must be ashamed of what they have acted knowing that cryptos are not a new thing anymore and it already gone through a lot of tough battles yet it is still there.

Crypto will continue to survive no matter what because there are always people who will have a solid faith on it and most of these people are the pioneer in crypto world. It's only one exchange that have collapsed but we still have plenty of them that are trusted. People should worry less.

Let me inform you op, bitcoin acceleration and Bitcoin degradation or decrement has been rotational for years back, so therefore I'm assuring you that they is every tendency of Bitcoin surviving because what is happening now in the cryptocurrency is not the first time Bitcoin have experience alot of degradation in the market,. Bitcoin has fall and ressurect severally so therefore this is not the first and it shall not be the last, so let us be comfortable and also assume that this bearish season since this 2022 is a correction.

The negative side of crypto/bitcoin is only for people who have been cheated and don't want to repeat the same mistake, but we can take the positive side from that they don't want to have many victims of fraud (fraud often happens to people new to crypto)
as long as bitcoin and crypto are running and continue to prove their performance there is no reason people who have benefited from bitcoin hate and spread negative info will always think positively about bitcoin itself

You're right. Crypto is valuable because all believe. If linking with FTX I think they are one of the contents of crypto. There is no close relationship, but since FTX is part of the crypto circle then the impact is trust. Perhaps this will make many people think crypto is not safe. So many people are starting to stay away from crypto. Although if I look in the same direction, some cases do always appear. But at some periods it had no effect on Bitcoin which could always again reach ATH.

There are really things which you cant really be able to avoid on using up these centralized platforms or custodial things which it does really give out that kind of convenience and easiness
of buying and selling out your coins.
In speaking with unfortunate events here on this market then its never been something new.If you've been here on this market for years then you are fully aware of that,
but i cant blame out other people to be that emotional or having these kind of reactions considering that we are just humans.
We would be raising up questions something like this if this market would survive or not? No one really knows but to mind off that this isnt the first time for these things to happen.

Sometimes people do not have the choice to do so if they can't help but still use custodial wallet/centralized exchanges. I got to admit that I use custodial wallets that are primarily localized here in my country since I needed their service to buy me a mobile phone credits, shop online and other usual stuffs I can do with fiat without having to go outside.

If there is someone else that I would advise the same as yours, it would be that if s/he will hold a money in an online/web wallet, at least just do it if it will be used immediately otherwise just avoid it at all cost.

Sorry mate
What I mean by correlation is that when a hack occurs or token losing value just as FTX it doesn't affect bitcoin rather the market could like drop causing seriously dump but being that is giving any action to bitcoin which is not possible, that was why I said it doesn't correlates with bitcoin. So the reason for bitcoin existence was the action which altcoin was created but in general bitcoin still maintain it's value.

Bitcoin is the first and is considered the creator of the crypto industry, it can be said that bitcoin could still exist if all altcoins disappeared, but to say they are not correlated is completely incorrect. I believe that without altcoins bitcoin would not be as popular and valuable as it is today. Nowadays, people enter the market for the hype of altcoins not bitcoin which is why you see more people preferring to invest in altcoins over btc, but after losing money with alts, they realized that only bitcoin is what they were looking for.

Without altcoins and markets, bitcoin would likely be a stable currency or alternative payment method to fiat, and that was the original goal that Satoshi created bitcoin. But if bitcoin wasn't volatile, not making profits, there wouldn't be too many people using it. Altcoins are necessary to celebrate the uniqueness and uniqueness of bitcoin.

Along with the negative outcomes and experiences you have mentioned, why don't you focus more on the brightside?

Bitcoin has been used as legal tender in El Salvador. Lots of exchanges and BTC ATMs have been implemented all throughout the year; and lots of countries have started to accept and integrate cryptocurrencies to their financials. Even if there are some negative experiences with BTC, your primary basis should be its price- the price remained constant and booming ever since it was released.

Though you may have some doubts over it, the fact that it has been ongoing for nine (9) years now with a significant price tag on the market is the basis that everything is sailing consistently.

If i convince someone to get into BTC, i usually have the time and patience to tell them some dos and don'ts. For dont's they must never leave their money in an online account, and they should avoid centralized tokens and coins, i use the term of not your keys, not your coins to convince them on how important it is for them to hold their keys, and not allow a centralized exchange do it for them. So if one is trying to convince someone or people about BTC or crypto, let them have the right knowledge to be able to give the best advice, and just maybe their converts wouldn't get burnt next time.

I believe in both of them happening to be fair. I do not know what he meant, but I believe that both the small projects for tokens and coins will go down, but I also believe that some exchanges will go down as well, most of them are terrible. Just focus on what you can do with the most known ones and you will be fine.

I doubt anyone would be hurt if they buy bitcoin and hold it on binance, both the coin is great and the exchange is great and they will be fine, but that doesn't mean it’s that much of a problem. Let’s accept the fact that it's going to be a difficult thing to find that commonly, only a few coins and few exchanges give that much trust to people and you have to realize that.

Nobody knows the real reason behind the market crash after hitting its last ATH last year but there's a lot of possible reasons why it dropped so drastically, part of it is because of the war between Ukraine and Russia, there's the collapse of FTX which played a huge part on what happened to the bitcoin lately and this year alone, the interest rate has spiked which caused troubles to the investors. But anyway, that's just a challenge that we need to overcome and whether we like or not, we will experience these things again in the future because bear season will always come back.

Observation there is these two words people don't comprehend "Crypto" and "Bitcoin".
To me I understand crypto to be a general name for all altcoin, meaning whatever that affects cryptos doesn't have any correlation with Bitcoin because it has came to exist before any other altcoin there today. It's the fear of what happened, lack of trust and as always said which I may like to borrow from people around "Not your key, Not your coin". Those who have their investment on Bitcoin in their self custodian wallet have nothing to regrets of a lost of funds or being scammed by shitcoin investment. As far as I have been here, if not for 2017 to 2018 bear market I invested in altcoin I have never complained of any hack due to I was clever enough to detect how altcoin works, to secure your investment pull out your funds from any exchange and hold bitcoin for years then check out if there would be a regret.

This proved that only bitcoin exists and other decentralized platforms.
Stop hugging centralized projects and exchanges because they are not trusted --this time proves that only bitcoin has been given a true meaning of decentralized nature in which people have financial freedom towards the government. There are no intermediaries that should be involved in bitcoin and those altcoins which don't have clear utility will have vanished.

It seems to me that the situation is better now than it used to be. When Bitcoin wasn't as popular and the community was much smaller, I'd say there was a bigger risk that attention to it would die out after something like the Mt. Gox crash. Now we have much more people of all sorts: hodlers, early adopters, traders, institutional investors, some crypto-friendly countries, many companies that adopted Bitcoin one way or another, etc. Some can get worried, some can engage in the good old panic selling. But each time Bitcoin recovers from a big crash, it proves that it's capable of getting our from bad situation, and I think more people remain believers that it will recover next time.

Right and the point is that we all are under pressure when we see our investment going down with all the negativity surrounding the market with all the red candles but you need to control your emotional play at that time if you have invested in bitcoin for long term.Then you feel relieved be as you are not into selling at that time but on the contrary if you find it as investment opportunities to get them at discounted rates you will be doing the same.

The main profit/loss will occur only at the time of selling of your coins because if your investment has gone down or up with the current market prices it's unrealised gain or loss but if you can manage to hold it for long term and prices boost up your automatically comes into profitable situation.But as you said the main problem with people is they sell under pressure and panic in the market giving them loss.The main reasons for it are :

1) They expected bitcoin to be short way of becoming rich fast but when this does not happen or they see little correction in prices they start panicking and sell off at loss also to get out of market with FUD and loss in their hands.

2) Investment of more they can afford to loose which builds up more psychological pressure and you think it's better to take out the remaining balance before it goes to zero

3) Investment based on someone's else influence without even researching about bitcoin and they make fool out of people so they need to make their own decisions.

But as said if you are long term holder then check out the returns for bitcoin for over 4-5 years you will find profits only.

That's normal. Anybody who has any amount of bitcoin fees like that when they see a big drop, more so when price goes below a certain strong resistance such as $20k, even more so when the drop is illogical (like a panic sale).
But if you think the psychological pressure is too much it may be because you have invested more than you can afford to lose and you may want to make some changes in an appropriate time.

right, bitcoin is not going to collapse that easily, considering the many holders with different views. The warnings that occur are around altcoins that fall suddenly, where maybe a whale can drop it alone, it's different with bitcoin where whales need to unite the minds of many people to make it fall and have to make large amounts of fud. moreover, there are still many people who think, the more bitcoin prices fall, then it is an opportunity

but now many people are traumatized by investing in altcoins because there are so many victims as a result of investing in altcoins. But now many are selling altcoins and being transferred to bitcoin. because only investing in bitcoin is suitable to guarantee security. but of course the future of crypto will be safe but I think most people will definitely focus on bitcoin.