EDIT: 31-08-2025! Hey, every now and then I like to bring this thread back to life and give you all an update. A 2.0 thread is coming soon.
*latest update 16-09-2023: I hope everyone stocked up on CASH and safeguarded their liquidity. The crypto market is set to hit a second bottom in the coming months. Most likely around the 23k mark after that. Happy longing day, folks.
Bitcoin is wild. For many of us, crypto is a way out, myself included. But let’s keep it real. Right now, there’s a ton of stuff happening in the world that’s gonna affect crypto. We’re dealing with Covid19, Evergrande, politics, taxes, housing market issues, and so on. On the flip side, we've got companies buying BTC like Tesla and Microstrategy. Lots of firms are in, and some are still adding to their bags. That’s all cool, but the negative factors impacting BTC and crypto are just getting started. We’ve only got Covid19 affecting us now, and it’s leading to dips of 20-30%. Crypto is definitely the future; we all agree on that. But I think we’re in for some rough crashes before we really take off. I’ve been in the game since 2014. Never sold, just kept stacking more BTC, even when it dropped from 20k to 3k. Until about 8 weeks ago. That’s when I started selling and actually moved some crypto into gold and silver. I believe that was our last major pump to the upside, and now it’s all downhill from here.
I’m not super active here, but I’ll pop in to check this thread every once in a while. Just for kicks, to see if this so-called idiot actually knew what was coming.
/ This isn’t a bearish thread. Just throwing my two cents into this great forum. Cheers!
All these you mentioned is not limited to Bitcoin or cryptocurrencies, but are global situations that impact any area or sector. Lots of global economies reached new heights in inflation during this pandemic and lots of currencies were devalued, Bitcoin actually faired better during the critical lockdown periods, over many other assets.
Covid-19 was declared a global pandemic on the 11th of March 2020, and the price of Bitcoin then was almost $8k, the price now is $48k, after reaching a current All Time High of almost $70k. Where did you get a 20-30% dip from, except you're suggesting that's the reason for the current drop in price?
This contradict to where you said bitcoin is the future. If there is a moment of fall , that doesn't guarantee for a constant fall as you said "falling from now on" .You didn't show a chart that proves that and again you don't compare the past to now because there are more believers now than in the past and stronger hodlers are still accumulating including another halving in view.
Maybe we all know that crypto is the future, but people still do not know. If there are crashes after this end of the year, then wow, that will be the golden time for us to buy many bitcoins but I really do not know for sure. I think the up and down of the price will always happen, and it already happened a long time ago so we need to prepare for the worst.
It is good if you kept buying from a long time ago. But hopefully, you have a target price to sell your bitcoin so you can enjoy your profit and have time to achieve your goals. So let's see what will happen later.
Baby calm down, you don't have to do me like this. We'll eventually come back up, but I doubt it will be anytime soon.
Only time will tell.
Cheers.
Don't worry about me Michellee. I am set for life. Atm I am just buying shitcoins like $SAND and staking them. Why you may ask? I don't know lol.
I think I am becoming paranoid. Oops.
You did your homework. Well done brother. Only fail to see the big picture.
Bitcoin is a decentralized computerized cash made in January 2009. It follows the thoughts set out in a white paper by the puzzling and pseudonymous Satoshi Nakamoto.12 The character of the individual or people who made the innovation is as yet a secret. Bitcoin offers the guarantee of lower exchange charges than customary web-based installment components do, and not at all like official monetary standards it is worked by a decentralized power.
You are certainly right that BTC and cryptocurrencies in general is a phenomenon for many of us, since it has already allowed us to make good money, as well as create a new industry. No one can 100% know what the future holds for BTC and cryptocurrencies. As for the fall in the price of BTC, this happens regularly, since BTC is in one way or another connected with many processes in the world. But no matter how the price of BTC falls, in the end it always becomes more than it was before. This is probably the phenomenon, but how long it will last no one can say. Therefore, I believe that you always need to be able to seize the moment in order to have time to make money.
Up and down in price or fluctuations that occur in bitcoin is a natural thing. this happens to the crypto market. Downturns like this are common and the time will come for them to rise and return to the bull market. Currently the bear market is more dominant. There's a lot going on in bitcoin. Keep doing good management and have a target at what price to sell it.
Surely time will tell but my point is that it may not turn out to us like it happened in 2 years and three years back. This time may happen differently with the halving coming of course you know bitcoin will become more sort after. So don't expect that type of dropping happened in the past, reversion may happen in between.
Bitcoin's price has (and should) nothing to do with its future unless you treat it as a speculative investment asset.
Where did satoshi promise any of us huge returns in the white paper? I didn't read anything like that.
Bitcoin fulfills its promise as long as it exists.
The good news is that you managed to buy and hold bitcoins from 2014 to mid-2021. That's great because I believe only certain people can do it. But it is a recommended investment, buy and hold your bitcoin for long term and sell when you really want to buy something from it for your real life.
Now we are really in a period which is a bit difficult to explain although I believe the price is still bullish compared to 2020. Saylor announced that he has bought a number of other bitcoin during the month of December so it might have a good impact on the market to hold on to support above $40K -$45K. You can expect bearish, while we still want a bull market during the end of the year.
We'll not hit 10k. We'll not hit 5k. True. We'll never see those numbers again. Never ever lol. My point is we'll drop still heavy (20k-25kish) for a long period of time.
BTC is actually something we need. We are going to get rid of CASH money. Crypto is here to save the world. I wonder if the creator of BTC is actually someone that is pushing The Great Reset agenda.
In fact, many people would not believe the value of BTC would be like this. Maybe many people have regretted selling it cheaply first. But right now maybe looking for 0.1 BTC is a very difficult thing because the value is already quite large. After two BTC cycles actually I'm sure if today there is a decline it's a natural thing. But at some point I am sure that the price of BTC will go towards a new ATH. Covid 19 does not affect the crypto market all continue to run normally. In fact I see on social media many people who have joined the crypto world.
I agree with some of what you are saying however just because SP500 and Bitcoin made new highs doesnt mean everything is a bubble and will implode soon.
Look at stocks like Zoom, Peleton, Alibaba, Disney, Uber, etc. They are all trending downwards, some are like 70% down from ATH. The stocks which are making SP500 go to ATH are stocks like NVDA and Apple which will eventually correct.
The trend for certain assets already reversed this Summer.
That screen shot is showing a double tap pattern which means a bearish.. Lol and it's base on 1M time frame. Well that's what it is mate, i mean never argue with other people because we have different views, and infact some of us who used to make technical analysis are not using the same technique and time frame how to identify the real potential of the growth . so let it be and let see what will be the results afterwards..
To be honest Covid-19 did really have an effect remember? the price went as low as $3k in March last year during the height of the Covid-19 news, not just crypto but the whole stocks and other financial market as well. And now that we have the Omicron variant, the same, it somewhat has put a dent. Nevertheless I don't see it having a long and lasting effect on us and I don't think we are in the bear market as the OP has said. That is his opinion, but we all have our own views and I don't agree with him.
Come on, you didn't need to correct my guy like that. Let him think and say whatever he wants to say. We both know crypto is being affected by Covid19. But I need to laugh or else this forum becomes boring oO
Nothing has changed brother. This has been the pattern of btc price. It rises and falls and traders making profit from both while hodlers will keep being patient for another time of bull. So only newbies will panic that there hodling is deminishing but experienced guys already know how it is. You either tether what you hodl or you sell to regret in loses but if you hodl it must bull after bear.