Bitcoin Forum

Bitcoins is trading below 4500 USD and the whole market seems to be going down too. Please be honest and tell me what is happening if anyone has idea. Don't just comment just because you want to fulfil your signature campaign post requirements. I am even crying typing this post. You know why? Because My investment of lifetime savings of 22,000 USD which I gained from my pension was invested in bitcoin when my niece recommended it for me. Please what is really happening. Now my value of bitcoin is around 3000 USD after waiting for a year of holding bitcoins.

Who can say so many factors here.
I will tell you one thing about bitcoin. NEVER sell at a loss - especially when it has gone this far. You simply have to wait it out perhaps as much as 2022 now. However you are down to 3k now what is the point of worrying at this stage.

If you were going to sell at a loss it should have been way before now. You now have to await the long game but I would not be too concerned unless you really need the funds right now or before 2022.

Another thing just when you cash out for what you put it in will sky rocket past that.  

Barring a black swan event you will be okay.

Just be glad you did not invest in some alts back then. You would be looking at some huge losses and there is no such holding rule for them. I think they will mostly dilute themselves to zero.

There are a few exceptions but finding those will be unlikely without a lot of experience and a lot of luck.

Bitcoin is a promising platform so again it will going to moon. But you must wait for long term because current market is really sad to see anyone so better you should hold your investment it will make 2x profit in next year. All the peoples are panic selling in this situation so you just turn off your computer.

I can't speak for you but I would say that in my opinion (based on what I know of your circumstance) investing all of your pension in to bitcoin (and at a price of near $20k) was probably not the wisest of choices. As for the current drop, I don't think there's much behind it except for panic and maybe that lots of ICOs are converting their BTC/ETH to fiat in order to continue their development.

I took a quick look at your post history and it doesn't really match your story so I'm thinking this is a troll post, but just in case I have one question for you: When something goes up in value 50 times in a year and a half, wtf did you think would happen? it would just keep going up forever? name one other thing that has ever existed that went up like that.

A man called Craig Wright have access to one million bitcoins, which were holded previously by Satoshi Nakamoto (Dave Kleiman).

He is dumping these coins in the market, to pay for mining costs for his fork in Bitcoin Cash. This, just because of a disagreement between him and Jihan Wu (owner of Bitmain, the main mining company for Bitcoin and Bitcoin Cash).

Because of this, miners also have started dumping to cover their electricity costs, as difficulty is rising and they cant afford it.

Maybe someone already put a hit in Craig Wright, as some crime lords might be using bitcoin for money laundering.

Im not crying, but Im also under the water a little bit. I bought in last year and this one, but most of my life savings are still in fiat.

You are a victim of this club of psychopaths. You and many others.

Bitcoin is functional, fast, and reliable for making payments, but these beartards are killing it. If people lose interest, we will never see it shine.

You are not the only one who is crying, everyone who is invested in crypto currency is in same condition. I actually shocked when I opened my laptop today, by looking at the price of BTC less than 5000$. For you I will say, you must have collected some knowledge about the crypto currency. It is not recommeded to invest all you your savings in a filed like crypto. Even when you are starting a business, you do not invest all of your money. You save something for rainy days. Crypto is very unpredictable, no one knows exactly when it is going to rock or shock. 

If you took a look at the chart from a couple years out you would have seen bitcoin went from around 400 USD to 20,000 USD that is a insane increase and you should not have invest such a large amount of money into such a high bubbled market. that was very foolish and risky and you lost the risk

Never discussed my savings in any of my past post and it will be great if you can analyse my past history which is inconsistence with claim on my pension here.

Instead of prodding us to do or tell you something, why don't you share what your next move is?

You took an investment tip from a niece who's how old, exactly?  You didn't do any research into bitcoin or its history?  

What answers are you looking for?  Why is the price dropping?  That's because people are selling it en masse--and there's no answer that's probably going to satisfy you as to why they're selling.  My advice to you (and I'm not a professional advisor by any means) is to hold on to what you've got, because the price may rebound.  Don't know what price you bought in at, but selling while an asset is down is a sure-fire way to lose money.  

Next time be smart about investing your entire life savings into something you evidently know little about.

Hmm.  Seems like you're not a complete noob to bitcointalk if you can make a statement like that.  I have a feeling you're trolling us all.

You need to wait a little longer if you want to get back your investment. Lesson learned, don't buy during hype, instead buy during fall. Don't worry, you'll get back what you have invested it's just it may take some time like 2-5 years or even longer. Also, don't go all-in if you're going to invest. Always spare for yourself.

Remember that "whole market" includes the stock market as well, which is also down.

My take: there have been a lot of margin calls for traders in the Dow and NASDAQ and they sold their bitcoin to realise cash to meet that call.

Don't panic and sit it out - the halvening happens in 2020 and the price will rise as we get closer to that date.

Having checked the history, I totally agree on the inconsistency thing and your conclusion.
"All my online remittance since the last five years have been crytpocurrency rather than traditional money transfer or banks , hence I think I am ready to use cryptocurrency in my everyday life."
Big bullshit.

Putting money on crypto is not a joke. Yes it's worth to take a shot but you should understand all the associated risk prior using your savings to buy some. This is not a childish game that you will just put your money and wait it for grow. There are people who are willing to do hodl for much longer period so this kind of trend is being disregarded by them.

And kind of a bad move that you put your "LIFETIME" savings on something that is just recommended to you? What on Earth you did.

Well then, it's there already and you have no choice but to deal with the current trend. What to do now? Before I will continue my response, I want to see first your responses here to other users. Don't want to waste time advicing on someone that is not serious.

My niece sell and buy bitcoins with mobile money and bank transfer on localbitcoins. He advice many on bitcoins and ICOs since he is a graduate in accounting, we all believe her. But I think is good to keep holding and forget about it.

Are you willing to contribute to the discussion or want to be my past post history analyser?

Though many of us did not foreseeing the current situation but as an investors and traders we should be prepared for this.
 About two weeks ago all the forecasts was that bitcoin and cryptocurrencies market in general is going to start to witness it usual end of the year bull run and most of us especially the micro investors were hoping for our investments to appreciate only for us to see this huge dumped in pricing.
       I think we should have a long term view in this if we decided to hold.  The current market conditions may take over 3 years to recover and that means we should expect bullish trend in the year 2020 and 2021.

Your story is very painful to read, but in reality nothing is happening with bitcoin, if you look at the past history of the movements in the price of bitcoin you will see that bitcoin moves in this way, there are huge bull markets and there are huge bear markets as well, unfortunately for you the moment that you choose to invest was very bad because the price was at its highest point and now you are having those huge losses and no one can tell you when the market is going to recover.

Be patient sir, you don't need to regret that it happened, for now you better be patient and wait for market recovery. Don't sell low, because it will make you suffer losses.

Investing in cryptocurrency is very risky so before you put your money you must ensure that you can face this challenge about the price that has been bearish trend. Never sell at a loss price though you are not the one suffering in this market might as well wait a little more to bounce back again.

Wait for the bitcoin to pump again the value. As we notice this week market still bleeding and it is not good for us if we are going to sell more coins that we have because more money will lost of this snerio will still happen or it continue.

I'd say sell your coins now, look at it this way, you lost 85% on your investment, if you sell now you still have 15%, that's better than anything less than 15%.

Nothing positive yet the prices hit $3600 by today and still falling so as people said it reached $3000 range so this is the real bottom or the prices will fall more. ::)

I have no other words than don't lose your hope the prices will recover again and we all will make profits by holding bitcoins.

I think we have come to the phase of panic selling. Many couldn't take the pressure of falling market, as often in similar situations.
Still I beleive that we have to keep calm and wait for this price dump to finish. Now it's hard to tell when this negative trend will be over because it's looks like the price is sinking endlessly but I still beleive in Bitcoin recovery.

Am I the only one to find the title kind of strange? That composition of words.

True, news keep on feeding negative stuff.  They even say that price will continue to decline.  Supporting their statement, they keep on publishing predictions and thoughts of known people that are not too friendly to Bitcoin.  The only thing that should have at least minimize this fall had been postponed and moved to January.  From here, there is not much of positive events that will at least help the market to bounce back.  Though I certainly agree, we must be patient and wait for the market to recover.  

The sort of hope you are referring to is useless, and people with similar mindsets are being shaken out of the market as we speak.

People need to rethink why they are here in the first place. If you understand why Bitcoin has value in the first place, what's happening in the background in terms of progress, you wouldn't think about selling but try to stock up as many coins as possible within what's financially feasible for you.

The hashrate of each coin has dropped significantly in the last weeks, while Bitcoin's hashrate remains somewhat stable, and that after an almost 50% reduction in price!

The sad part is you have seen people who were upset about bitcoin price dropping from $6.5k to $5.6k and so forth, even at the first stages of this 10 day streak we were like oh too bad that it happened and ever single day after that we have seen bitcoin dropping even further and further down and looking back 10 days ago when we were sad about bitcoin we should have taken our money out instead of thinking it would go up from there.

What we believed was a drop in the price that would be corrected seems so much better right now compared to what we have right now. We could have had a better financial stress free life looking at how we got out in right time but instead we are looking back at those days thinking "I tought that was bad but I was wrong, this is so much worse".

Hold! This is the only key I can give to you OP. If you hold your bitcoin today, there is a possibility for your investment to return again. In cryptocurrency, there is always up and down. We cannot deny that we lose a lot today but if we will wait for its right turn to move up, profits will come to us. Eventually, we will recognize that cryptocurrency is mot a simple kind of investment because it is difficult for every one to predict the future price.

Fiat is inflationary
BTC is deflationary

Odds are in the HODLers favor  8)

For most people who are long enough in crypto and HODLing there is no sense to sell here, its already too low.

Not only are you feeling the disappointment of this accident, the market is bleeding again because of a number of rumors and some news says it is nothing but a hard fork on a bch. and the war between Fakesatosi and Dev Bch. this is what is being talked about and as a result the market is bleeding

Shaking out the weak hands is good for crypto. We don't want the twitchy people.