Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: 20kevin20 on February 26, 2020, 01:19:25 PM



Title: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: 20kevin20 on February 26, 2020, 01:19:25 PM
We've had the Iran vs USA situation. We've been through the 2008 recession, but that's when Bitcoin was only starting to grow up. We've been through hacks, exploits, scams, hard times our governments have given us and all but today we're still here. Bitcoin - it is still here today. We're growing up like never before together with the Blockchain technology.

This comes with advantages and disadvantages. The only disadvantages I can think of are the way Blockchain will be used at one point against our own freedom. But now, let's talk a bit about the situation we're confronting at the moment. This is not about politics, conspiracy theories or anything else but the way Bitcoin is going to behave during and after the situation we're confronting today.

We're in the middle of the Coronavirus hysteria. Is it as much of a threat and should we be that scared about it? Both "yes" and "no" come with enough proof, so at this point we just do not know what to believe and what not to. However, for one moment, let's put all this virus part aside and talk about the hysteria it provoked all around the world.

At this point, as soon as the virus gets closer to a country, hysteria begins. It's enough to hear that one person has been affected in the country for everyone to go wild. Is this normal? I can assure you it is not. Instead of calming down, everyone is acting as if the apocalypse is here.

We've seen a pretty drastic.. let's name it "crash" in the cryptocurrency markets in the past few days. Have you wondered what has caused this to happen? I have, and the conclusion I've reached is that the markets were not only unprepared for this hysteria but we also have no idea if Bitcoin is going to be a safe haven during these times or not. Mainsteam media is provoking panic all over the Internet and a lot of people fear this virus is a real and very serious threat, so they are looking for information that denies the worst scenario to calm themselves down - I believe this is some psychological effect. Because Bitcoin has never been in this situation before (it has, but when only few knew about it), this is the moment we find out if people have woken up and found out Bitcoin is the key solution to the problem or not. Or in other words, we will just now find out whether the market is starting to reach maturity or not.

Because of the panic, people do not understand what we've just put ourselves into. The enormous amount of money poured into the economy and the immense amount of money people are spending on literally anything and using the virus as an excuse is scary and has irreversible consequences over the global economy. We're most likely going to see a huge upcoming inflation and more debt and this hysteria will eventually end up moving us from the virus threat into a huge recession so smoothly we won't even notice it.

I've posted here about the upcoming recession before. I'm not sure if I've mentioned it before on the forum, but I always say it when talking to somebody: it's not a matter of "if" it happens; it's a matter of when it will. The clock is now ticking fast, China is entering big economical issues so is Europe. I can clearly see around me that people are starting to enter a panic mode caused by the urgent necessity of cash. Unfortunately, this led to people selling their assets and investments in order to get cash for emergency purposes. And one of the investments people first think of selling is Bitcoin. Why? "It's virtual, you cannot use it physically and you cannot buy stuff with it". Let me tell you what - Bitcoin is one of the few existing assets that go against the inflation. You'll never hear the President of China say "we're creating and pouring $174B worth of Bitcoin into circulation". Even precious metals can change their scarcity negatively at any point in the event of a huge mine discovery. In comparison, we will never find more than exactly 21M BTC.

All of this means that Bitcoin will most likely always thrive in any negative scenario. Governments can confiscate your precious metals, but they cannot confiscate your Bitcoin as you can simply bury a piece of paper wallet inside a bottle under the ground and no detector will ever find it. Governments can make your fiat money worth ~$0 with only an announcement, but people will always be willing to pay a decent price for a scarce asset. Governments can warn you the banknotes may be infected with some bacteria, but Bitcoin existing only in a digital form will never come with this danger. Banks may close and seize your funds as if they were never yours, but Bitcoin is only stored and controlled by you and you can give anyone some BTC without a third party asking where that came from and why. Someone might give you an oz of gold and you'll have to trust the gold isn't fake, but you cannot receive a fake satoshi. Get it now? Bitcoin is simply a safety during hard times.

Therefore, the price crash in this market should, in my opinion, not scare you away. People need cash. In my country, I have seen packs of 5 pieces of surgical marks sold at around $100. People are willing to pay that much just for their own safety and health. Hence, they will sell anything they have to get fiat and that includes Bitcoin. Actually, because BTC has never been through such hysteric moments before, it will probably be the first thought of many when it comes to the "what should I sell first?" question. I strongly believe this crash will stay here for a bit (or maybe a bit longer) and then a huge surprise will come.

My personal opinion is we should not panic or panic-sell. If you're in a huge need of cash, commodities should probably be somewhere on the second half, towards the end, of the list of stuff you're thinking to sell. Time will prove whether I'm right or not though, and I wish I could give the best advice ever during these times but I am not willing to take responsibility for anyone's assets, wealth or life. Therefore, this post serves as a summary of the accumulated thoughts I've been having in the recent days.. any critique is more than welcome, so feel free to contradict me :)


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Kemarit on February 28, 2020, 04:05:57 AM
Of course why would someone in panic mode and sell their stash because of the corona virus scare? Everything will settle down in the next couple of days. And just be checking the price today, crypto markets are in a positive, although the rest of the traditional markets are still red.

So I'm not panicking, I will just sit it out and let those who panic push the sell button. Then smart investors simply will buy those BTC at a cheap price. This has been the formula since the beginning, and it's no secret as well that those who panic usually regrets their decision when Bitcoin goes on another massive run.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: pooya87 on February 28, 2020, 04:31:54 AM
We've seen a pretty drastic.. let's name it "crash" in the cryptocurrency markets in the past few days. Have you wondered what has caused this to happen? I have, and the conclusion I've reached is that the markets were not only unprepared for this hysteria but we also have no idea if Bitcoin is going to be a safe haven during these times or not.

i don't think you can make that conclusion based on what we have seen so far.
bitcoin market is a worldwide market and it has not yet been affected that much with the panic in my opinion and that panic is not everywhere anyways.
the panic needs to be a lot bigger than this and other markets have to have serious crashes so that we can start observing how bitcoin would react in that situation, whether it goes up or follows others. so far it has never followed any other market and i don't see that changing. the recent drops could have simply happened because price failed to break the major resistance at $10k-$11k after multiple tries for a long time and like all the previous times it had a bigger correction.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: davis196 on February 28, 2020, 06:15:31 AM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: jseverson on February 28, 2020, 09:03:33 AM
We've seen a pretty drastic.. let's name it "crash" in the cryptocurrency markets in the past few days. Have you wondered what has caused this to happen? I have, and the conclusion I've reached is that the markets were not only unprepared for this hysteria but we also have no idea if Bitcoin is going to be a safe haven during these times or not.

I don't know if the drop is significant enough to be indicative of market jitters. The way I see it, speculators have been hoarding coins ahead of the halving (considering how hyped it is this time around), then just dropped their coins once they feel they've reached the ceiling. Basically the same thing happened last halving, where prices started going down near the halving date, and the downtrend continued for like 3 months after.

I would like to be surprised though. The halving is still a couple months away, so there's definitely still a lot of action to be had.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: 1Referee on February 28, 2020, 11:04:16 AM
So I'm not panicking, I will just sit it out and let those who panic push the sell button. Then smart investors simply will buy those BTC at a cheap price. This has been the formula since the beginning, and it's no secret as well that those who panic usually regrets their decision when Bitcoin goes on another massive run.

It looks like smart investors are actually unloading, and the dumb money buying the dips. I'm preparing for ~$7500 to be met before the halving takes place, which I'll then look into whether or not it's worth buying. Perhaps there might be a shallow bounce in the coming days, but that's perfect to sell into if you want to get out.

Closing below the 200 daily moving average (which we did two days ago) is generally a sign that you should be preparing for more downside, hence the reason I am short as we speak.

On a more positive note, wherever we end up bottoming, that will very likely turn out to be the best recent entry point. It's hard to be macro bearish with the emission of coins getting cut in half in the coming months.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: 20kevin20 on February 28, 2020, 11:50:05 AM
I've read the replies so far and I'm pretty surprised how you guys tell me the Bitcoin fall isn't correlated to the Coronavirus outbreak at all as if they're part of two different universes.

Do you guys think that cryptocurrencies are 100% immune to all the other moves in the markets? :D Some of the most important stocks USA just had the biggest crash in their history and overall it's been the biggest drop since 2008, and some of you say the stock markets need to have a bigger crash to affect BTC.. Isn't a worse-than-2008 crash enough?! Trillions of dollars have already been wiped out..

It is not like stock traders panic sell in this hysteria while Bitcoin traders are having the best time of their life. My main point was that a stock market crash will provoke a BTC sell-off too and, after a while, Bitcoin will wake up and surprise us with another insane boom.

Keep in mind that Bitcoin has never been through such hysteria before..


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: OcTradism on February 28, 2020, 01:58:44 PM
the recent drops could have simply happened because price failed to break the major resistance at $10k-$11k after multiple tries for a long time and like all the previous times it had a bigger correction.
And there is a history that bitcoin has never broken its all time high price at halving days. Will bitcoin make it with this halving, the first time in its history? With the rising demands and general increases of crypto acceptance and the better law regulations, it has better conditions than the past to break its ATH around halving day, the 1st record.

If bitcoin breaks that resistance, then people will fomo buy it again and their fomo demands can help price skyrockets to the $14k.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: icewitch0612 on February 28, 2020, 02:03:36 PM
Bitcoin surprises us every year. Isn't that enough for you ?


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Wexnident on February 28, 2020, 02:46:55 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.
Because of the media. They basically embellish the news regarding the spread of the virus plus announcing every little "predictions" of scientists around the globe. Now, the mass, as we know it, take these "predictions" as facts instead, spreading mass hysteria all over the globe. Still, it's a virus quite devastating, but I really doubt it's enough to affect the market by so much. I mean, we'd have to wait for it to at least reach the level of the black death to at least say that the market would crash right?

 Imo though, what affected the market heavily was the reaction of the traders towards the "threat" levels of the Corona virus. That, and the cause of the massive drops of stocks just recently these past few days. There really isn't any solid data to prove it, but the reactions of the population should be enough as proof no?


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Anonylz on February 28, 2020, 05:22:35 PM
I've read the replies so far and I'm pretty surprised how you guys tell me the Bitcoin fall isn't correlated to the Coronavirus outbreak at all as if they're part of two different universes...

I am also of the opinion that one has nothing to do with the other, my reason for saying this is that this is not the first crash in price of btc and won't  be the last base on market movement history,
If you think this correction has something in common with coronavirus then what about other corrections that have happened in the past, should we tie them to the events that occur during that time! and what if nothing happen at that time?


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: joinfree on February 28, 2020, 05:35:57 PM
@OP When it comes to survival you can expect to see all this panic from people mate so don't take it too hard on them I am sure if it hits your country you might even do worst. Well, the panic from Coronavirus is surely one which everybody should be concerned about. Though you see bitcoin's price stabling. I am certainly sure we are likely going to see a major decline in its value if this disease is not slowed down at any point in time.
Even if world governments decide to switch to the use of cryptocurrencies following this infectious disease it will certainly not be bitcoin but some other altcoins.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: dothebeats on February 28, 2020, 09:40:58 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.

I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.

News flash: COVID-19 is actually a global threat and that's not overestimating what it can do. If anything, microbiologists are actually questioning whether the reports China are releasing on the daily are credible or they are really just covering up what's really happening behind the scenes. Either way, even if the virus is that scary, it shouldn't be connected to anything crypto-related as the ones actually affected by this pandemic are the tourism and domestic economy of China and the world.

As for bitcoin, it is always a matter of time before it surprises anyone. Just the previous bull run to ATH was a huge shocker to the world, as most people were stating that bitcoin will never reach more than $5000 no matter how much push the traders do. Bitcoin is capable of doing such due to it being in a free market, and anyone can join the fun as long as they have the money to trade. That's the edge of bitcoin over traditional markets, hence why it will always perform better since people know they can jump in and out of the water whenever there are events happening around.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Artemis3 on February 28, 2020, 09:58:41 PM
My personal opinion is we should not panic or panic-sell. If you're in a huge need of cash, commodities should probably be somewhere on the second half, towards the end, of the list of stuff you're thinking to sell. Time will prove whether I'm right or not though, and I wish I could give the best advice ever during these times but I am not willing to take responsibility for anyone's assets, wealth or life. Therefore, this post serves as a summary of the accumulated thoughts I've been having in the recent days.. any critique is more than welcome, so feel free to contradict me :)

Panic sell is always idiotic. You are correct in everything you said, perhaps the big inflation might not come just yet, but economy recession is. If the inflation does come, welcome to the club. Those who kept their bitcoins, will have the best chance.

Unfortunately most people here have never experienced inflation beyond 1 digit, or 2 digits, they may even think it could never happen to them. They might be right, or they might be wrong. Unfortunately, if it does happen, it will be too late. The only way to prepare, is to always keep a bitcoin stash just in case.

I think bitcoin price is going to bounce up at some point, either before the halving, or after it. This virus seems it could take 5% to 10% of the world population, while the elderly is the most endangered group, its not exclusive and younger people have died as well. So its not like the panic is unfounded, but the reaction sometimes is.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Darker45 on February 29, 2020, 03:15:18 AM
The rise and spread of this very infectious virus is no joke anymore at this stage. The World Health Organization (WHO) has just raised the level of global risk to "very high." Just recently, a person in the US is infected without knowing where the infection came from. Furthermore, more countries are included in the list where the virus is present. Mexico, New Zealand, and Azerbaijan are now infected as well. 

In times like this, people will cease to do their usual business. Not just people but also countries. As a result, the flow and circulation of money is limited. A lot of people who stop doing business take refuge to their savings. Others will definitely need to sell some properties in exchange for cash. They need money to continue surviving while hiding inside their homes. Those who have Bitcoin may also consider selling their Bitcoin even if they do not really have the intention to let go of it. It is pointless to argue that Bitcoin has exactly 21 million in supply, Bitcoin cannot be seized, Bitcoin is an asset against inflation, and so on and so forth. The point is that if they cannot buy their day to day needs using Bitcoin, they might as well sell them. A lot of people are not receiving their regular salaries due to companies and stores closing. Many of these businesses are closed indefinitely. They badly need cash for now.

Hopefully, when all of this is finally over and the smoke goes down, people will quickly recover and get back those possessions they've sold out of pure necessity. And that includes Bitcoin.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: coinfinger on February 29, 2020, 04:14:54 PM
I don’t really think that I should consider Bitcoin as a safe haven. Bitcoin is good, but the volatile nature makes it to be a lot risky. There are times you can invest and the price will fall and you will start losing and sometimes it happens unexpectedly and at a time you will not be comfortable with it. Bitcoin might be a good choice for a long term investment and that’s if you have plans to invest for like a decade?

Because from what I have come to understand, as times goes on the price of Bitcoin is increasing slowly. Last year the lowest price was $3000 and if you check past years you will notice that their lowest is below that. So that shows that every year there is an improvement.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Mulann2 on February 29, 2020, 05:39:10 PM
I don’t really think that I should consider Bitcoin as a safe haven. Bitcoin is good, but the volatile nature makes it to be a lot risky. There are times you can invest and the price will fall and you will start losing and sometimes it happens unexpectedly and at a time you will not be comfortable with it. Bitcoin might be a good choice for a long term investment and that’s if you have plans to invest for like a decade?

Because from what I have come to understand, as times goes on the price of Bitcoin is increasing slowly. Last year the lowest price was $3000 and if you check past years you will notice that their lowest is below that. So that shows that every year there is an improvement.

Yeah, I agree about the volatility aspect of btc, it will be hard for someone like me to also consider btc as a safe haven or store of value, this will only be very interesting if the price is a bit stable or rises without falling which is very impossible,
So in the absence of this 2 option, it will be difficult to consider this, although when the price is high it makes you to forget when the price is down, better to consider long term, then you won't worry so much about occasional drops.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: hatshepsut93 on February 29, 2020, 06:06:20 PM
I've read the replies so far and I'm pretty surprised how you guys tell me the Bitcoin fall isn't correlated to the Coronavirus outbreak at all as if they're part of two different universes.

Do you guys think that cryptocurrencies are 100% immune to all the other moves in the markets? :D Some of the most important stocks USA just had the biggest crash in their history and overall it's been the biggest drop since 2008, and some of you say the stock markets need to have a bigger crash to affect BTC.. Isn't a worse-than-2008 crash enough?! Trillions of dollars have already been wiped out..

It is possible, but there are more arguments against it:

1. 15% drop isn't too uncommon in crypto, it happens at least a few times per year with Bitcoin, and it historically dropped even lower without any global events that could explain it.

2. We just had a rally, going from $7k to $10k, when a rally loses steam, correction follows.

3. Why should coronavirus or stock markets affect Bitcoin? There's no direct connection, there's no underlying mechanism for such movements. So far the argument for it seems to be "everyone panics so they sell Bitcoin", but with such logic you could say that every single asset should crash because people "panic". This isn't the case.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: palle11 on February 29, 2020, 10:45:14 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.

I also don't know why the so much negative news about it, maybe a strategy to get families to sell off what they have cheaply including bitcoins. Yes, I read in google, it isn't as if it kills as the media has popularize it. I read SARS is more dreaded but then maybe some coins have been sold out of panic. We however expect that market will soon start recovering.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: CaVO32 on February 29, 2020, 11:00:35 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.

I also don't know why the so much negative news about it, maybe a strategy to get families to sell off what they have cheaply including bitcoins. Yes, I read in google, it isn't as if it kills as the media has popularize it. I read SARS is more dreaded but then maybe some coins have been sold out of panic. We however expect that market will soon start recovering.

It is a dreaded epidemic because people are really dying. The number of deaths given by China is not the real one as many are claiming that their relatives who were dead because of this has not been accounted for. and the widespread infection is fast. if someone is infected and has not been diagnosed properly, he will be dead soon also. so I guess, i understand if many people are scared of this virus. and the problem is, vaccine is not yet fully developed. but we don't know the exact impact of it in the crypto market, if they really sold off or not? they should be buying instead as it is one of the safest to transact right now and not using fiat currency particularly in China.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: thesmallgod on March 01, 2020, 12:21:53 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.
I share the same opinion with you. I have not even seen any concrete reason that shows that it was the coronavirus ish that made the price of bitcoin fell short from 10k. I see it as what we used to witness every day in the crypto world. The problem is that when the price went up to 10k people think we are already in a bull run and that the price will continue to go up but they have not justified reasons why the price rise from 6k to 10k. This is normal and we have witnessed this many time in the past


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Searing on March 01, 2020, 04:09:09 PM
This is also true of any crisis..imagine you are trying to prepare your likely 'emergency fund' which also likely is empty....in say Venezuela

Any of that current currency, if you have such, is probably getting even more worthless due to last week's dump of stocks/BTC/etc. So you can

dig out your hidden emergency gold and/or stocks or take out a loan (all doubtful) or you can liquidate that Bitcoin you've been accumulating

that you were and are buying food, in say Paraguay or some such, because they never will again take Venezuelan currency.

But with this handy/dandy BTC/crypto with the ability to get USD out of such back from BTC and into say USD into your phone, you now can stock up for coronavirus.

This is happening with everyone around the world due to the instant and easy liquidation of BTC/Crypto for such pandemics we may be in the process of having.

So, BTC as plan-B for emergencies this should NOT be a surprise. Was to me, just saying, it should not have been. This easy liquidation is a feature of BTC, the same

as accumulation is.

So we will see how this pans out if/when the stock market continues to fall and other things happen....currencies get manipulated around the world and IMHO

BTC  price will swing back to upward and accumulation will resume and such BTC for the same ease of use above and BTC's decentralized nature.

But this time as a store of value, for these further games by governments and the next round or two of emergencies with this crisis. Again, IMHO. This liquidation

as a phase of BTC/crypto sales and the price, dumping is just the 1st act of this whole coronavirus, again IMHO. Boom or Doom, we will be the first to know!

later

Brad


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: maxreish on March 02, 2020, 03:12:44 AM
It's the fear of corona virus infection. Let's face the truth, if someone infected around your country who would not panic? Especially when the infected area was located in your city. But we can always be calm and be prepared for all of this issues. In the connection of bitcoin crash, many said this crash were still connected and has something to do with the NCOV crisis, whatever is true.

 Those panic sellers and panic buyers did contribute to this massive drop though. On the other hand, this dip market can be an opportunity to buy more btc. Let's just be calm folks, every issue has a solution.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: bhabygrim on March 02, 2020, 04:29:38 AM
Why would the panic of corona virus affect the market?
There is no need to sell their crypto at all since it wouldn't even affect the virus it wouldn't cure or lessen the virus spreading phase.
It would only affect the market if the victims of the virus are crypto holders and they need to convert it into Fiat in order to pay for their medications.
But for those who doesn't need medication or have enough money to buy some mask for prevention then I don't see any point for those to sell,
Unless they really want to quit or they are willing to lose some money.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: South Park on March 02, 2020, 05:11:26 PM
Of course why would someone in panic mode and sell their stash because of the corona virus scare? Everything will settle down in the next couple of days. And just be checking the price today, crypto markets are in a positive, although the rest of the traditional markets are still red.
In fact it is not really difficult to understand why this could happen, while investors and traders love volatility they hate uncertainty, we do not know the true potential of this new virus to affect our lives and that is why the stock market is going down, as such in times of crisis people prefer to hold cash just in the case something important happens they have the flexibility of buying what they need, in my opinion it was just a matter of time before we saw the price of bitcoin going down because of this virus but since the decrease is being caused by an external factor the drop in the price will at most last a few months.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: serjent05 on March 02, 2020, 07:03:30 PM
I definitely agree with OP's opinion.  I also have seen a much worse crash than the recent one, what I witnesses after those crash were the bounce-back of Bitcoin at a greater height.  Most of those who panic sell end's up with regret.  And now we face another the same scenario, I bet most of us knows what to do, patience is the key!


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Wysi on March 02, 2020, 09:55:22 PM
True this is something which is happening from a long time is we have witnessed the worst Bitcoin collapse in the past, let's take last January as an example Barren Bitcoins value drop below 5000 USD but the amount of time it recovered and bounced back. So we should not be selling a for Bitcoin in panic selling as I have made this mistake in the past and I still regret for that, I would request everyone to hold onto the Bitcoins at least until the month of June that's post halving.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Baoo on March 02, 2020, 09:57:49 PM
Personally i don't have any bitcoin but i would not be surprice if the next year or 2022 bitcoin will make the new hight! I don't think this year it would happens , bitcoin is not ready yet.
I disagree with you, Bitcoin is always ready for any development in value despite we still have not seen any high price in this year. Furthermore, remember that Bitcoin halving is coming in July, after that event there is a great possibility that Bitcoin's price will rise with a big amount like, $ 15k usd or maybe much more but It is pretty  hard to predict an accurate price well.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: BuNga_cute on March 02, 2020, 10:28:46 PM
Most of us are panicked seeing the current price movements of bitcoin. Even though we should believe in the potential and the future
bitcoin. We have seen the history of halving before that succeeded in making the price of bitcoin rise dramatically, it should even now
we must be sure to approach halving, the price of bitcoin will increase. I am sure that in the near future bitcoin will provide a surprise
with a significant price increase. So my advice is better to hold the bitcoin that you have, so you won't regret it later.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: bitgolden on March 03, 2020, 09:01:51 AM
I was expecting the bitcoin to act as a safe haven, but the case was different and the price fell. But I’m happy that the price still managed to recover and it has been going up slow and steady as of recent and would soon pass the $9000 price mark. Although I’m not going to say that what happened was bad because most of the assets/stocks market were affected during this time of Corona virus, it was kind of a general thing and bitcoin wasn’t the only asset that was affected.

I do strongly believe that this current situation is not going to stop what we expect from the halving. There is still going to be a bull run, nothing is going to stop that, I strongly believe this.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: bitbunnny on March 03, 2020, 09:10:52 AM
Yes, Bitcoin can always surprise us both in positive or negative way but after 8 years dealing with Bitcoin I can't be so easily surprised anymore.
So, the recent correction wasn't a surprise for me, it was kind of expected but on the other hand I don't think that will last for long and that price will go down further.
Price will recover, that is for sure, however I don't expect some huge price jump.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Twentyonepaylots on March 03, 2020, 09:46:06 AM
Yes, Bitcoin can always surprise us both in positive or negative way but after 8 years dealing with Bitcoin I can't be so easily surprised anymore.
Same here mate, I'm not gonna get surprised if anything happens with bitcoin either negative or positive since it is  on the large bright spotlight now dealing with some big entities. After a couple of years with bitcoin I got all the good of it especially on year 2017 and seems like I'm ready to accept with any negative that will happen with it.

So, the recent correction wasn't a surprise for me, it was kind of expected but on the other hand I don't think that will last for long and that price will go down further.
Price will recover, that is for sure, however I don't expect some huge price jump.
As 2020 enters to our life, there are many unexpected things to happen like USA vs IRAN ( The conflict between them isn't surprising, what surprised me is the high profiled attack ) and corona virus disease. I remember how optimistic the people are on november last year  and turns out to be a hard challenge for the market when it finally went through haha. What I expected to happen next with the bitcoin market is a flat none.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: BrewMaster on March 03, 2020, 04:40:27 PM
to be honest any rise even if it were big in the near future is not surprising at all, it is like last year near the same time when bitcoin was around $3k and people were surprised about the well expected rise past $4k and the follow up FOMO that brought bitcoin up to $8k before a correction happened. we are in the same situation now too so we can't really be surprised to see another development towards the new ATH this year.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Sanugarid on March 03, 2020, 06:40:09 PM
I wonder why the coronavirus hysteria is so big.
After all,this is a virus with a 2-3% death ratio and only the really old and weak people die.The rest can be cured successfully.
The mainstream media and the social media platforms cause all the hysteria with all the "breaking news" and clickbait BS.
I don't think the hysteria is the only reason behind the Bitcoin price correction.The crypto whales just cashed out big profits at 10K USD price,and they are preparing to buy some cheap bitcoins right before the halving hits and the price goes up.
I share the same opinion with you. I have not even seen any concrete reason that shows that it was the coronavirus ish that made the price of bitcoin fell short from 10k. I see it as what we used to witness every day in the crypto world. The problem is that when the price went up to 10k people think we are already in a bull run and that the price will continue to go up but they have not justified reasons why the price rise from 6k to 10k. This is normal and we have witnessed this many time in the past
As we can all notice, the market is now recovering, and we are all hoping that the bull run will happen soon. But on the coronavirus case, I can say that it has nothing to do with the price of every crypto. As of now, we should wait what's an important thing that will be occurring this year and might have a big impact on the market which is the halving of bitcoin. The past halving turns into a good result because when that really happens, the market really pumps up, but as of now we cannot predict what's gonna happen but we are all wishing that it comes with the same result.
Yes, Bitcoin can always surprise us both in positive or negative way but after 8 years dealing with Bitcoin I can't be so easily surprised anymore.
So, the recent correction wasn't a surprise for me, it was kind of expected but on the other hand I don't think that will last for long and that price will go down further.
Price will recover, that is for sure, however I don't expect some huge price jump.
No one can really predict it since cryptocurrrency's nature is its volatility, the passive changes in terms of value is there. We can only do some speculation but that might help if you guys have some statistics or proof. But still, it is really hard to prove it.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: gundala on March 03, 2020, 09:36:29 PM
All of this means that Bitcoin will most likely always thrive in any negative scenario. Governments can confiscate your precious metals, but they cannot confiscate your Bitcoin as you can simply bury a piece of paper wallet inside a bottle under the ground and no detector will ever find it. Governments can make your fiat money worth ~$0 with only an announcement, but people will always be willing to pay a decent price for a scarce asset. Governments can warn you the banknotes may be infected with some bacteria, but Bitcoin existing only in a digital form will never come with this danger. Banks may close and seize your funds as if they were never yours, but Bitcoin is only stored and controlled by you and you can give anyone some BTC without a third party asking where that came from and why. Someone might give you an oz of gold and you'll have to trust the gold isn't fake, but you cannot receive a fake satoshi. Get it now? Bitcoin is simply a safety during hard times.
Your description of bitcoin makes me realize how much more bitcoin is compared to any valuable asset in physical form, in the real world. So I always believe that bitcoin is an evolutionary form, it takes a long time to be effective, just like natural selection.

My personal opinion is we should not panic or panic-sell. If you're in a huge need of cash, commodities should probably be somewhere on the second half, towards the end, of the list of stuff you're thinking to sell. Time will prove whether I'm right or not though, and I wish I could give the best advice ever during these times but I am not willing to take responsibility for anyone's assets, wealth or life. Therefore, this post serves as a summary of the accumulated thoughts I've been having in the recent days.. any critique is more than welcome, so feel free to contradict me :)
I totally agree with the contents of this thread as a whole. Many things opened my eyes and strengthened me to stay here. No need to worry, the bad season will end, this train our mentality to survive, of course, it must be balanced with strategy and analysis because the opposite can happen.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: milewilda on March 03, 2020, 09:39:08 PM
to be honest any rise even if it were big in the near future is not surprising at all, it is like last year near the same time when bitcoin was around $3k and people were surprised about the well expected rise past $4k and the follow up FOMO that brought bitcoin up to $8k before a correction happened. we are in the same situation now too so we can't really be surprised to see another development towards the new ATH this year.
For those fellas that have been here for many years wont already be got surprised to these typical things that do happen in the market.I cant even see a reason on why we should be surprised yet it do moves on behavioral manner depending on what are the market sentiments or new that do happen around.We are moving sideways now and the price can either pump and then crashed in a short period of time.
Thing here is that we should know on how we do secure ourselves to utilize up these movements to be profitable.Just dont hurry up on things nor anticipate too much because it will just stress you out.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: South Park on March 06, 2020, 05:00:32 PM
In fact it is not really difficult to understand why this could happen, while investors and traders love volatility they hate uncertainty, we do not know the true potential of this new virus to affect our lives and that is why the stock market is going down, as such in times of crisis people prefer to hold cash just in the case something important happens they have the flexibility of buying what they need, in my opinion it was just a matter of time before we saw the price of bitcoin going down because of this virus but since the decrease is being caused by an external factor the drop in the price will at most last a few months.

It would be have a lot of effect in the stock market, but I don't see it impacting the price of BTC that much although we're kinda feeling the correction of the price right now. Many could have been panicking right now that they're now gonna start selling their crypto and all. In the end people would still just keep their BTC in their wallets as long as there aren't that much of victims in their countries from the virus. We might be down to 7k at its lowest from this issue.
When it comes to this new virus I do not see how bitcoin could have escaped its negative influence, the market is made of people and there are few things that are more scary than a new virus with an unknown potential to disrupt our lives, so it made sense that some people began to sell their bitcoin not only because of the uncertainty, at the time we had already reached the same price barrier that we reached months ago so the market was ready to go down anyway and the virus was the catalyst of the drop.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: OcTradism on April 11, 2020, 11:55:39 AM
When it comes to this new virus I do not see how bitcoin could have escaped its negative influence, the market is made of people and there are few things that are more scary than a new virus with an unknown potential to disrupt our lives, so it made sense that some people began to sell their bitcoin not only because of the uncertainty, at the time we had already reached the same price barrier that we reached months ago so the market was ready to go down anyway and the virus was the catalyst of the drop.
If Gold can escape the pandemic's negative influence, I do believe bitcoin can do same escape or even more impressive escape. I don't know how you observed the market, the trend, the flow of capital and price actions in last month but from what I see, bitcoin and crypto market have responsed better than others, from stocks, oil, to gold. Bitcoin and crypto market are the strongest one in the pandemic. I don't say any guarentee for them in next few months, everything can change fastly in crypto but I believe we will have next one or two years with Bull.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: verita1 on April 11, 2020, 12:36:49 PM
I think this is the best time for BTCitcoin. While we are trying to get out of the Covid19 Pandemic, we may have a better chance of using Bitcoin to rescue the breakdown of the economy. Many jobs are being lost but remote work is gaining some ground and that is a good space for Bitcoin. It may have the power to win massive adoption with a mutual agreement between employers and the workforce as well as payments for goods and services.
What is true is the way of managing the economy must improve after the Covid19. Because it lacked to attend to essential things, and now we are suffering from this dangerous virus.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: Jating on April 12, 2020, 11:06:55 AM
I think this is the best time for BTCitcoin. While we are trying to get out of the Covid19 Pandemic, we may have a better chance of using Bitcoin to rescue the breakdown of the economy. Many jobs are being lost but remote work is gaining some ground and that is a good space for Bitcoin. It may have the power to win massive adoption with a mutual agreement between employers and the workforce as well as payments for goods and services.
What is true is the way of managing the economy must improve after the Covid19. Because it lacked to attend to essential things, and now we are suffering from this dangerous virus.

What do you mean that remote work will give bitcoin some good ground?

The world economy will truly be reset again because of the Covid-19 pandemic. Every governments around the world will probably change their perception again as to how to combat this kind of health issues. This is the first time that we have witnessed a crisis wherein no one is really immune, not even US. Regarding bitcoin or crypto in general, we just need to be smart on selling it off, might be the last commodities that we need to sell-off in this crisis, in my opinion.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: carlisle1 on April 12, 2020, 01:48:14 PM
What a good read mate and if this is only before march?i will surely come to expect the idea because this is about positive views for Bitcoin but the sad part is after 15 days the market comes to Bad days and green days back again.

But we have enough time to invest now because we are in Low market value now and when the time comes that Bull heads then for sure we will be profiting.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: online73 on August 22, 2020, 09:22:21 AM
I absolutely agree that Bitcoin will surprise us more than once. Sometimes it seems that this is an amazing asset in general - it drops to $ 3,000, then, surprisingly, with most opinions that the price will not be higher than $ 10,000, the price turns out to be 12,500. We were so scared by the clever guys from YouTube that the price should collapse, which, it seems to me, in the fall, Bitcoin will surprise everyone with new heights. Bitcoin is one huge surprise and it's good that it doesn't stop being that way.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: jpnl0006 on August 22, 2020, 10:08:40 PM
The involvement of bitcoin in the financial sector is a mark that the financila industry will never recover from. I wish them well and pray for better days but the US will never surpress the bitcoin network but will also subscribe.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: btc_angela on August 22, 2020, 10:13:46 PM
I think that bitcoin will only grow and grow. Or it stabilizes in one place of growth. The Chinese government has already begun to implement bitcoin and blockchain technologies in payment methods for buses, taxis, groceries and other life situations.

Bitcoin and blockchain though are two different things. Regarding China, yes they are going to take advantage of blockchain technologies, in fact they have filed to many blockchain patents already. But as far as using bitcoin as payment methods, I doubt it.

Back in 2010, Bitcoin was not worth a cent. The people who owned bitcoin in 2010 simply didn't know where to spend it. And now they would be millionaires. I think the future of Bitcoin will surprise us a lot. Perhaps we will pay for goods from a card or from a phone and we will pay with Bitcoin.

Well if history repeats itself and then we could be millionaires in the future right? But I do agree that bitcoin has come a long way, all financial systems in the world have been shaken out, and it's just a matter of time before we see how bitcoin will be in the future.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: dimastegar on August 22, 2020, 11:20:49 PM
Bitcoin as a digital asset has been recognized by all cryptocurrency users. And now, trust in Bitcoin continues to grow. People are getting attracted to Bitcoin because it has a fantastic exchange rate. Even in our country, crypto users are growing as they are interested in making money from home by trading crypto. It is only a matter of time until the majority of the world's population recognizes Bitcoin.


Title: Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again
Post by: 0nline on September 08, 2020, 08:17:38 PM
BTCBTC It's the fear of corona virus infection. Let's face the truth, if someone infected around your country who would not panic? Especially when the infected area was located in your city. But we can always be calm and be prepared for all of this issues. In the connection of bitcoin crash, many said this crash were still connected and has something to do with the NCOV crisis, whatever is true.

 Those panic sellers and panic buyers did contribute to this massive drop though. On the other hand, this dip market can be an opportunity to buy more btc. Let's just be calm folks, every issue has a solution.