The guy behind the binance app expressed his regrets for those who sold their bitcoin at $77,000 and how much they wish they had a crystal ball. Some folks check out the one month chart while others focus on the yearly view, and it's pretty wild to see how BTC keeps bouncing up and down on those charts.
Pretty obvious the bear trap at $77k was just a move to get people sidelined though.
Why should a coin that keep getting invested billions by institutional players every month going under, doesn't make sense at all other than there's bigger force trying to get people sidelined.
Just as CZ said, bitcoin outperform anything in this market, a person can put their money in bitcoin a year ago, forget it and become rich later.
Honestly I'm loving how everything is going, the rise in Bitcoin Price is heading towards a favourable interest and it's going to be profitable to those that I've held it for long and it'll site be a regretful see session for those that took the opportunity for granted in trying to hold while some that sold at losses are perplexed. This is why it said to understand how the market goes inorder to know when to strike for a better long term results but some others think short term amidst all of this.
As we are indirectly feeling sorry for those who sold their Bitcoin at $77k, in few years to come, we may feel the same sorry for some of us who sold their Bitcoin at $120k-$150k this year.
Bitcoin has proven that increases as time proceeds. You may think that you are selling your Bitcoin at high price, whereby it will increase above that in months or years to come.As we are feeling sorry for those who sold their Bitcoin at $77k, in few years to come, we may feel the same sorry for some of us who sold their Bitcoin at $120k-$150k this year.
Why should we apologize for the act of selling Bitcoin which is basically at the will of the Bitcoin owner himself, so it is a bit strange if the owner of the binance app has to apologize for this action. Even though it was done with the awareness of the Bitcoin owner who basically the exchange does not have to apologize to anyone, because if we refer to the level of regret, there may be more people who have to regret because of something like that when they sold Bitcoin at the beginning of last year (2024).
I guess you mean "hiked" and not "hacked".
And there has been numerous threads here that basically causing arguments because some individuals and entities sold their bitcoins in a lower price referring a current price when the price has surpassed the price rate when they sold their assets but I think it's getting too much of us preying over others investment decisions.
We all have risk levels and since we can't tell about the emotional pressures of others, let's let them do their things but what every enthusiasts should note is that we shouldn't turn back to regret our selling decisions in the future.
Those who have sold at $77k or even earlier feel bad while looking at the price of Bitcoin. But are we going to blame them? no. It's just a reminder that there is more for Bitcoin as we hold longer. And those who sold early at a lower price, I guess with the intensity that CZ is telling them, he wants them to feel guilty about their decisions. It's kind of frustrating if I am one of those because I did sold some early but still holding on. But those who have sold entirely their holdings, they're guilty and they'll have hard time in accumulating again.
If people want to sell their bitcoins at a particular price, then let them do so, it is impossible to have the details about why some people sell their coins, except they tell you, it could be that some of them who sold at that price have been hodling for a very long time, and that price was their target, so they sold.
That said, it is easy for me to hodl bitcoin, because i have a strong understanding of the network, i can sell for some purpose or spend it if i ever have to, but i leave most of my stash untouched, but everyone does not have to take that approach.
Yes - everyone's investment goals are different, so we don't blame anyone for why they sold at a certain price. Someone who sold at $110K may have been holding bitcoin since it was $10K - they just took a big profit and enjoyed their success after a few years of investing. They can sell whenever they want regardless of the percentage return they made - that's because we know that every investor's goals are different.
I also won't be selling my bitcoins right now - I'm more likely to hold onto them. I still expect this to be the most bullish year I've had since I've held them - but when my targets are met, I'll sell. It's all about targets for each individual - only time will tell when we'll sell.
Some people had no choice but to sell at the lowest price, typically this would be a leveraged trader or someone who needs dollars fast. Its part of the market that the forced sellers skew the extremes of pricing too low and also likely too high at times, reading that effect is part of trading well I think.
Biggest clue should be the volume which is the weight or most accurate section of the pricing but we can move anywhere in some of the quieter periods of trading and BTC has lots of them being 24hr and relying on multiple globally based exchanges.
BTC is volatile not all of the prices are so accurate, got to include that within the aim when taking a shot is part of what Ive become used to.
Binance does not have to apologize because the mistake is clearly from the owner of the asset itself, I can even say that those who sell at a price of 77k should not be a problem if indeed at that price it has given them a profit but if otherwise it is purely a novice investor who is FOMO/trader but if you look at the credibility of bitcoin, is it possible that there are still FOMO investors? I think there are none or if there are maybe only a small number of investors because if they learn a little about bitcoin they should already know that bitcoin must be stored for the long term.
Feel even sorrier if not very worried for those who would give even a smudge of thought to a guy who settled billions of dollars of litigation and got away with it with white collar jail.
Buy. Hold. Sell as you need, preferably years away from when you bought. No need for apologies.
In my opinion, those who sell bitcoin are selling for their profit. But whether it is 77000 or 100000. After seeing the chart of the Bitcoin Market, a lot about the price revealed that everything was lost for economic problems. As the binance owner says BTC is selling for $77,000. I don't think they are selling BTC in Loss. However, it is true, as long as the price goes on but the bitcoin will continue to rise. That's why there is no reason for regret. And it is not possible for everyone to hold Bitcoin always. From the current price we can see 107k or 108k again soon.
People that sold at $77k were not aware that price will go back to $109k again talk more of going to create a new all time high, that was why they sold to avoid loss, they didn't realize that they will be the people losing at last. It's because of fear, lack of adequate Bitcoin knowledge, investing with funds that they can not hold for a long time and last because they don't want to enter a long term investment, those are the reason I can think of that caused some people to sell so easily. The $77k price was even an opportunity to buy more and not to sell but some people did without knowing that we are not yet in the bearish season.
Those who have short-term Bitcoin investment plans may have sold when Bitcoin made a new ATH or when Bitcoin reached $110k. Those who have successfully sold will hope that the potential bear market will come soon, and they can get back in with a discounted purchase.
I think those who want to get short-term profits are still doing it like that for the current market scheme. Unlike those who hold Bitcoin for the long term, a decline is a good moment to buy and add Bitcoin to their hands. Everyone's way of making a profit from Bitcoin may be different from what we plan.
If they sold at $77k doesn't mean they never believed in Bitcoin to reach our ATH, all investors own the right to sell whenever they feel the need of profits. You will have to say the same for those who will sell during this ATH, least with a price of $150K then in another interval when Bitcoin gets upto $200K and above sets of investors starts selling because of their need, do you say they never believed in Bitcoin to price this high in the future.
Their is always a sell feature when ever we buy Bitcoin, its compulsory that will sell if the need arises, we can't hold for eternity.
There is no need to be sorry about that, and there is no point in regretting it because you did well if you've got some profit out of your investment, even if you had sold at $77k because you didn't know the price was going to go back up again. Did the CEO of Binance know that? No, I bet he didn't, and people only say such things when something has already happened. What if the price had gone to $40k from $77k? What would the same people say then? They would say that those who sold at $77k made the best decision.
So, it's all subjective, and these things don't matter as long as you made a profit, which is the basic purpose behind the investment. The market will keep moving all the time, and it's not possible for you to always time the market perfectly, so making sure that you hit your targets should be the priority and if that's done, don't worry about anything else and let people say whatever they want to say.
Truly, great words regarding the matter: everybody decides for themselves of when and how to utilize their BTCs or to see their profit realized at last.
BTC wouldn't be so good if it only could of been hodled
I don't know why you call CZ the owner of the Binance app. CZ is the founder and longtime CEO of Binance, not just the owner of the Binance app.
In any case, what CZ said is absolutely true. We all feel sorry for those weak people who panicked at $77,000. They must be burning with regret now because they didn't have the experience or patience to hold on to their precious Bitcoin and ultimately reap the rewards of their patience.
This isn't the first time this has happened in all previous cycles. With every correction, there are always weak hands who panicked at a low price and later regret it.
I do presume those who sold will get a second chance to rebuy but it might not be as low as 77k Im not sure. I do think some kind of low sell off event or attempt occurs and most likely below 100k, alongside some negative news.
The fact that this future low is very likely not as low is bullish and that is the reason to buy, don't be rigid and keep expecting to get your perfect opportunity. Time does not repeat but it may rhyme and that is the chance to take.
A low which is higher then the last big sell is a higher low and thats more bullish for future pricing then the highest peaks are really accurately capable of conveying correctly.