Bitcoin Forum

https://i.imgur.com/MefgeZ0.jpg

The recent decline in the BTC is a good thing for cryptocurrency generally, it takes the scammers out of the market and makes room for other great blockchain projects to shine, gain momentum and grab media attention as they bloom.

Without question BTC is a safe haven asset class, it is completely uncorrelated to any other economic asset and because of this, it will always be sought after, particularly if mainstream markets tank. Make no mistake, the global economy is in stress and BTC looking cheap during this time makes for a brilliant sunrise to come.

i disagree.
the drop from the ATH, aka the bubble was a good thing for bitcoin because it "corrected" the market and made it healthy. this drop however, nothing about it is healthy! it is manipulation.
even if it weren't, still dropping that much in a short time (~45%) and an overall drop of ~80% is making bitcoin look bad as an extremely volatile currency. and that is not good for the future of it.

Well it happened in the past and that could be what's happening right now, although I think that this could be different this time seeing how the miners are in shambles after the sudden crash. I also wouldn't consider bitcoin as a safe asset class overall as it's still prone to these type of crashes without warning or signs.

I just hope your optimism would somehow turn into reality, and we've been into a lot of crashes before, so perhaps it's not bad if we look up in the brighter side.

BTC looks cheap.
These prices are not unexpected to me after the last ATH, the one before that, or after the next one as a ratio to USD.

BTC always dumps good from new ATHs and always eventually puts up a new seemingly astronomical ATH again.
To me it looks right on tack and I see nothing to dispute that the chart will eventually dwarf the last pump, as it did the one before that, and the one before that, and the one before that.

How will crypto gain trust again if this had already happened? My guess is that this manipulation isn't done by group of people who has no passion for the development of blockchain. Craig Wright is actively speaking on conferences, he didn't give up after months of keeping his mouth shut.

it is money that corrupts everything. and so far it has been easy to make money like a parasite. and that has been what a lot of people have been doing thanks to bitcoin's existence alone. they keep on creating money out of thin air by simply forking bitcoin or creating useless junk called tokens every day.
that much money will also want to exit at some point which causes big crashes. and then we also have the manipulators who want to make even more money by making the crashes even bigger and go against the drop using margin trading and other methods like Futures. and that creates a corrupted environment which won't go away unless the market grows big enough so that they don't have the same power anymore.

I bought some more Btc today. Nobody can say with certainty whether we hit the bottom - too many unknown variables in this market. Only time will tell. Since I bought in that low, I'll just hold it until I hit my number which could take several years. I think the best thing to do is to buy in low like right now and just hold for a few years. Historically, Bitcoin has gone down 80 - 90% before and always recovered. Let's see what happens.

Bitcoin is in the beginning of a new cycle, it will run to the highest position again, just as the sun rises and falls every day.
If it is noon at the end of last year, then it seems that it has just ended one day and is about to start a new day. Now it is the darkness before dawn，we need to wait patiently.
By the way，I suggest you change the picture again. This picture is not clear and loses focus, maybe it is intentional?

Well one thing is correct that this current bearish market is going to be like a test of resolve for most coins great coin might have the ability to still withstand the market situations but scam and worthless coins might not be able to pull through

this is one of those things that people won't accept until it is already too late.

for the time being because of the drop and all the FUD that is circulating in the media some people fail to see the truth that is hidden behind the FUD so they don't see how bitcoin is under appreciated right now. but when it has already risen and above $10k again they will start FOMO buying.

Damn , I hope you are a paid shrill , because you are seriously wrong.

BTC is not a safe haven, it is a speculative investment , as such it can go to $0 .
It is tied to Fiat thru it's requirement for it's electricity bill to be paid in fiat.
Currently it is unprofitable for many miners to maintain their mining operations.
https://btcmanager.com/u-s-mining-pioneer-gigawatt-files-for-bankruptcy-in-washington/


If you look at the wall street markets and the crypto markets,
they are both tanking right now, so your theory that they are not linked is utterly destroyed.

No drop in the price of almost 80% of the ATH value, can be good for this technology. Merchants & Investors wants some stability and a lot less volatility. The overall sentiment and moral of Crypto currency investors are very low and some people panicked and left the market with huge losses. <These people will be butt hurt and they will join the rest of the butt hurt crowd to bad mouth the technology.>  ::)

They never blame themselves for exiting too quickly, it is always the technology <Bitcoin> that are blamed for their losses.  >:(

You cannot blame people for running when the value of their investment plummets with more than 80% in a year.  :(

Bitcoin is a safe haven asset for all investors even if they are tax dogers or fund launderers, investors will switch to tether but long term storage in bitcoin is equally good

This current decline is good on a personal or individual level as it offers
a chance to get cheaper bitcoin but overall i suppose it doesnt look
great to the world outside looking in, it just prooves the instability to
them and offers a frightening scenario where they could "loose everything"

I like your post, a good and accurate observation about cycles.

The cryptocurrency market fall has been received with various feeling from investors, critics and more. Some investors feels this is the right time to invest. Some coins might not survive this so eliminating bad coins

The Scammers will never exit BITCOIN, its simply a candy-store for criminals, because its an unregulated, unsupervised playground for wolves to shear sheep.

BITCOIN even if it hits $2k, will be great, in fact so long as it's above $100 USD value, or even to say if can hold above an ounce of GOLD that will be fine,

In the past year BTC was acting more like BRK.A the Warren Buffet stock trading at $300k USD/share, silly to have a unit of such high value.

BTC is not the problem,the problem is all these DAMN clones, its terrible but typical that any jackass can take open-source code, change a few strings and re-dploy a clone or fork. Let all this shit go to zero, let there be only one mother-bitcoin.

Then on to making something great like BITCOIN 10.0 that has real security, real privacy, and awesome 'wallets' for the neophyte majority of humanity.

But in all honesty, around BTC will develop a consulting racket, where for a percentage, a consultant will help somebody trying to flee a civil-war shift there assets into the 'virtual world', so that they can pop back out some place on earth with the majority of their wealth intact. This is the #1 purpose of bitcoin. I personally don't think the software community will ever make a bomb proof wallet for idiots, the fact is people are just too  stupid, and software will always be an easy entry for the criminal majority. Thus the best exchanges will offer consulting and insurance for people who are smart enough to not try to this stuff themselves.

GOLD has gone up&down since the beginning of time, just like oil, just like rail-road stocks, or air-travel; BITCOIN has a long way to go before it can be declared dead, I would even say at a $1, e.g. ONE  US-DOLLAR BITCOIN will still be extremely useful. But of course this will never be, as there will continue to be war's and people will continue to move into bitcoin so they can flee with their wealth.

Yes. Surely. Just because of manipulation. We all think that Bitcoin is decentralized. But its completely wrong. Think over it. Bitcoin is completely centralized as well as controlled but also open source.

Hopefully so, because everybody inside the crypto space is all on fear that the market would collapse and would never come back. But I guess everything will be fine.

Do you mind stating the sources you claim are in control of the BTC, alongside factors that make it less decentralized..
The last time I checked manipulations hardly occur in centralized settings except by those in the helm of affairs...
The bitcoin is truly decentralized as you complete your transactions with no third party interference or any financial institution.....
If it were not you'll have to go through some ruling body or the other

Well still it is a speculation. We do not really know what will going to happen with bitcoin and this is being prove already when market price drop to even 3k USD something and that is not a joke. It could end anytime just like a bomb but it could also go up as what OP stated. For now, I am hopeless in investing bitcoin but maybe if market will have a good sign to invest again then for sure I will do invest again.

Lets still have faith for bitcoin to recover soon, If it manipulation then there still a big chance for btc to go up again, BTC is the number 1 cryptocurrency in the world right. It will survive this chaos, price btc is still okay for me,

If the cycle is going to repeat again and again then the bitcoin will be never used for what it meant to be,so having cycles on the prices is not good for the currencies and we need to help the prices to be more stable by start using as payment but now we are just dumping and selling to make profits,if we keep doing this then bitcoin may fails someday.

that is part of the problem: the cycle!

there is cycle in a market. you can never look at the history of a market and then say it is going to be repeated. it is the case with any market but around here with bitcoin people seem to insist on breaking that rule and set this market apart!!!
and guess what they succeed... when everyone believes in the "cycle" it will happen. meaning price drops, the bear market last a long time whereas it should have lasted a little and there will be a huge "pump" that will result in a gigantic bubble afterwards!!!

With the cycle going over and over again, it will create a form of bubble, reason I believe some set of people claimed Bitcoin to a bubble which will burst. People need to change their perspectives about the cycle and let Bitcoin carryout it's normal course.

Bitcoin is inherently a speculative tool. Now bitcoin has fallen by more than 80%, many in a panic sold it at a loss. But I think soon there will be a change of trend to upward.

I am agree, with bitcoin price drop, investor must be thinking to invest in others project and makes market more healty. But looking on bitcoin dominance, i am believe bitcoin dominance will decrease in near future and others coin dominant will increasing dominance