Bitcoin Forum

If you've been for a long time in this BTC business you already know this BTC price drop means nothing, nada.

I've experienced dozens of such drops and haven't sold a satoshi since 2013. Don't let the whales get your valuable BTC.

In other words, HODL, because every time after the rain comes the sunshine. You will be rewarded in the end my friend. But only the strong hands will remain.

I was surprised to see the price of bitcoin below $1 trillion dollars today, but that is how bitcoin price do fluctuates. Bitcoin is just a limited asset, that makes it valuable, its price can rise and fall back, but over long time, there will be a next rise.

BTC is often called "digital gold", since the reserves of the precious metal on our planet are also not unlimited. Mining new coins is getting harder and harder. After 10 years price should rise x3 - x5 at least.

So just relax and wait. ;D ;D

No matter how good your advise is yet People that you addressed seems to be not giving a damn, https://coinmarketcap.com/currencies/bitcoin/

Look how Bitcoin is performing now and look how bad the movement from yesterday up to now.

Sad to see it falling but what can i do but Keep Holding?

If you know the history of bitcoin prices then you shouldn't be surprised since you know that the prices will bounce back, I find that some people forgot that bitcoin is volatile just because it is pumping up in the recent months and hopefully this dip is going to teach them a lesson. This thread title is already too late because the weak hands have already sold when the prices were still atound 54k.

Nothing to see here, back to $60,000 before August. Weak hands don’t deserve the great riches coming in Q4 2021.

Ahh..Finally the Red Dawn I've been waiting for. Too much money always causes me headaches and over-thinking. Now that I am poor again, I am surprisingly relieved..LOL..

To be honest through, I have been here since the last ATH and have already experienced much of this FUD, Flash crashes and fear of losing my mind over putting too much at stake. I've learnt to not put too much at stake and try to earn, rather than invest. If this is your first crash and you've invested at the ATH, I hope you listened to the "Don't put what you can't afford to lose" advice.

If you didn't, well then just take heart from the experience of the 2017 people who waited for almost 2 years to regain the ATH. I don't think it'll take so long this time. Just HODL and spend this time understanding fundamentals rather than fretting over your losses. The Bear market is when the next season's champs are minted.

This is not a 'whale game' what happened in recent COVID time is that 'HOLDING-CASH" became TABOO,

Remember Ray Dalio "Cash is Trash", no return, negative rates.

All this started with  the hedge fund collapse a few months ago, 100's of billions on margin-call, the PROBLEM is when everybody in financed is holding their CASH in BITCOIN, and there is a massive margin-call, then this is why you see bitcoin selling off 100's of billions in market capitalization

When firms get 100's of billions in margin calls, they're cash calls, not BTC calls; so the BTC needs to be sold to rise up the cash

I didn't happen immediately because banks covered each other based on their BITCOIN holdings as reserve escrow, but once the selling started then all hell broke lose, which why you now see 25% loss on bitcoin in one week

Not a damn thing to do with whales.

https://content.fortune.com/wp-content/uploads/2021/04/Screenshot-2021-04-21-nj.jpg

Yep. We had 5 corrections harder than 35% during 2015-2018 bull run. Our hardest one this cycle was 25%. I would not be surprised to see even 40% drop to 38k before finding strong support to move forward.

Yesterdays dump was triggered by SP500 dump:

https://i.imgur.com/kbqlqys.png

History proves that BTC will overcome such a massive price drop and eventually bounce back to its original market value. It is nothing new for people who've years of experience in cryptocurrency trading to have this kind of bad news in BTC. So don't let your emotion take over your decision, just hold when massive price drops occur and sell when everything is back to normal.

What if they are just securing their money?
Would we call the experience trader a weak hand if they are doing it for cut loss?
I used to call it weak hands before but now I do understand them specially when it is a huge drop and it seems to continue rather than to recover.
I think the weak hands are those who easily sell their holdings when they read or hear a negative news even if the price isn't crashing down.

Yeah, we're experiencing the usual weak hand dropout. I regret every single panic sell that I've had ever since I joined crypto. This is the moments before we hear about yet another massive investment coming from massive corps such as Tesla or MicroStrategy. :)

that's how volatile the market. i'm also surprised just how quickly it had drop that low, I can only think that only one guy has been pumping the prices all along that by the tip of his finger, all his bots could just dump this low. Or could it be the institutions because all of a sudden Peter Schiff celebrates on his youtube channel saying i told you so.  meanwhile, ETH isn't dropping terribly.

I couldn't agree more.


That's quite pessimistic in my view. I wouldn't be suprised if we break another Ath in may. People don't remember but in 2016 there were also some drawbacks and people panicked before the final pump.

Yes, this drop means nothing for long-term holders. This experience has been met by many of us so many times and if you've been tough for the greatest bearish days especially the one in 2018.

The drop that we have recently is just a small one and a peanut compare from that year. There's no need to worry about with this very drop because we're still close to $50k and it will eventually get back there.

its normal for a newbie and weak hands to be scared and sell not minding the loss, its a learning process. holders are winners at the end but only the patient and determined can do this. whales dont hold, but you can hold to become whale.

A few weeks ago many forum members were writing that Bitcoin is now immune to panic selling,since the institutional investors are buying large amounts of BTC for the sake of HODLing them in the long run.There's going to be a bull season and the small traders will never get into a panic selling trap again.
I kinda believed this theory for a while....and now this is all proven wrong. ;D
Panic selling will always remain as an important factor in the Bitcoin price fluctuations.No institutional investors can change that fact.

Those who are now a strong believer in bitcoin will do panic selling as they see that the price of bitcoin is going down but for those who already experienced this thing, it is only normal for bitcoin, we should remember that bitcoin is not only meant for going up, we should remember that this thing has already happened, we will lose an opportunity once we doubt the bitcoin.

Indeed, now the price of bitcoin and other cryptocurrencies can fluctuate in one direction or the other. It is possible that this will continue until autumn. But in the fall, it really can rise well. Ethereum may have resolved its high transaction fees by then. It should be interesting.

Not automatically weak hands when one is dumping his bitcoin.

Smart short term traders understands that bearish market could come or correction will happen, so they could dump their btc for a stable coin while waiting until the price will dip more before they will start buying again. For long term holder, it's different, if they dump then its an automatic weak hands.

Hold will not easy, but I am sure we can hold bitcoin this time. Before the price increase so high and back to above $60k and break the barrier and still increase, maybe a correction like this will be necessary to get more supports. The early people involved in bitcoin will not panic if they see the drop of bitcoin price because they can buy back more bitcoin at once or make many orders buy at a lower price.

This situation is only temporary, and people do not have to worry about this because sooner or later, the price will start the rally and who knows, the next rally will bring more chance for bitcoin to back to $60k and make a new ATH.

Agreed, There's a lot of swing traders in cryptocurrency market due to volatility. They have a lot of prrofit by doing this method on a volatile asset but the majority of people selling on this current market condition are really weak hands because swing traders already sell there holdings on the first wave of dump.

I do holding for some reason but if I find that there is only a little chance for the market to recover in a shorter time, I don't hesitate to sell it instead. I might sure if this is a smart idea but looking into that particular situation, I think that is the safest way.

I hope as well but can't ignore such possibility for the market to face again for a long bearish season. I can't simply forget about the last 2017 and that is the reason why I decided to sell, not to hold.

It makes a lot of logic what you think, normally that's the smartest strategy and just reading OP shows that you have experience because you think like many famous market speculators, like Jesse Livermore and Richard Wyckoff, this market correction is a type of strategy that is carried carried out by the Stronh Hands, it is simple that they seek to buy Bitcoin cheaper, the "SHORT" can be opened by the same whales to take advantage of the panic of weak hands and thus take the cheapest Bitcoin, this is very normal, since 1800 these methods have been used. These strategies were used by Jesse Livermore in the Stock Market, of course this applies fully to the Bitcoin market.

My assumptions are correct in a sense, the shorts are open, they have not been closed, it may be a strategy of the whales. When looking at tradingview you see:

https://i.imgur.com/rok8uXk.png
tradingview.com

It's really good to see the weak hands are selling off their hodlings and market is going to have those strong hands who're believing for long term perspective. As long as panic sellers are into this market, we would see more correction every month which is quite unwanted. So, best way to accumulate more for our portfolio before it rebounds from this level just like previous month when we're on huge correction just like this.  ;)

I smiled after reading this because for the weak hands you claimed to have sold when the price was 54k just reminded me of when it was 18k what would they have done then, they would have forgotten about what bitcoin is

That will need more analysis to find the market can recover quickly or stay like that for some time. Yes, that is why we always need to analyze to know or predict how the market will move to determine what we should do. Maybe we can always get the right analysis but at least, we can do something related to the current situations in the market.

We need to analyze every possibility of moves for the market, including if the market still moves for a long bearish season, as you said. Yes, I can not even forget about what was happening in 2017-2018 because almost all of my coins drop to the lowest price. But I already take my profit by selling the coin.

If there is any set of people who've learnt anything from the 2017 ATH of Bitcoin it should be the weak hands who sold in 2018/19 when Bitcoin went deep down in that crash. So, after seeing how it went from $19,000+ in Dec 2017 and then plunged but later went to over $60,000 in 2021 (still counting) it shouldn't be any panic to see it go through a momentary correction below $50,000 (even it goes to $30,000). The Bitcoin community knows that Bitcoin is a phoenix that will surely come back to break its own record and create a new ATH.

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Are you for real?

But that isn't the true definition of "hodling" If everyone decides to hodl their Bitcoin without selling, don't you think it won't have any value? Of course, it would be valueless. Nothing places value on something more than demand. If I were you, I would've sold at some point and rebought at a dump. So, you mean even now you aren't taking profit and utilizing the crash to buy back?

Every dip is just wealth transfer from weak hands to strong ones

Hello everybody. No matter how sad it is to feel the fall in the price of Bitcoin, there is never a need to panic. Just a week ago, many dreamed about the purchase price of 40K, 30K ... This should be the starting point, not to become "weak hands" by selling your Bitcoins, but to be strong and buy at a good price now, because this is a gift of fate. We will again worry that we didn’t buy Bitcoin on corrections, when its price is more than 100K, regardless of whether this path is through 30K or 20K, it is necessary to use any chance, now this chance is coming.

It is totally a pre planned game to accumulate Bitcoin in Dip.Big Whales are behind this.After starting margin trading exchanges are also doing this play.Weak people get caught in this trap and return everything to whales in Cheap prices.we should be careful.

Well this has been proven time and time again, and yet those weak hands still sell there bitcoin in a rush and then they will regret their decision in the future.

And now that institutions and big companies are just waiting for the perfect time to buy bitcoin at a cheap price, just like what we've seen in the last 3 days. They are now one happy bunny and most probably they're laughing at those weak hands selling because of the panic.

I agree with you, I believe that some times we just want to also use the correction processes as a means to accumulate some more Bitcoins buy selling off when the price starts to dump like this and buy back after the dump. I believe if you can do it right, you can make a good profit as well and it is a good strategy to me also.

Well said. These is one of the most valuable lesson I learn from bitcoin and crypto investing - Back when bitcoin fall around Dec 2018 and almost all alts is in red blood I just made myself believe I am a loser and made a wrong decision investing in BTC ETH and alts so even I can only get almost 60% of my investment I chose to convert all my digital assets to fiat before I totally lose it. Now I regret if I didn't become weak and coward and just wait I might be one of those happy investor during this year bullrun.

Actually, that's exactly how some people get rich. Whenever some weak people start panic selling their bitcoins the stronger people will buy and hodl for long term. Actually, they see the corrections as discount. Like the market is giving them some discount to buy bitcoins with cheaper prices. An smart investors will use this chance buy dip to earn profits in long and even short term in some cases.

I was sad and worried when the market crashed in 2018. I was greedy with the fees and didn't sell almost anything during the ATH, and then when the price dropped to around $15k, I was sure that it would climb up in a matter of weeks. Eventually I ended up selling pretty much everything I had back then at around $8k, losing hundreds of dollars of profits which I could've enjoyed by selling at $20k. But this time I truly don't care. I know that the price has grown immensely and that it would be fair for it to go down. I sell when I need to, and hodl what I can afford to hodl. I'm fine with this approach, and the only thing that's very worrying to me is enormous fees because I'd want to see Bitcoin properly functioning as money one day, and the fees are discouraging my belief that it's even possible.

if you were able to hold bitcoin from 2013 until now I am sure you are now a new billionaire.

Selling bitcoins today won't be a problem at many times the price either. Selling some and holding some is the best option. Enjoying the results of your strong hands will not be a problem. it is an achievement.

Holder is always the winner, that's how it happened.

this is a consequence of crypto a few weeks ago, the price of bitcoin soared to new ath and now dropped to $ 48000. of course this will be very impactful for people who are just starting out in crypto investing because at first they only saw when bitcoin went up to fantastic numbers and when now the price starts to decline they are definitely worried about their losing future.
but if we look from a few months back in fact bitcoin also experienced a fairly large decline but see after that the price jumped to new ath and nothing is impossible for now juag like that. so just relax and stay HODL so that we don't falter and sell our valuable assets. I strongly agree if you say bitcoin is only for strong people.

If you know how bitcoin values have fluctuated in the past, you shouldn't be surprised. But, I believe that certain people have forgotten that bitcoin is unpredictable simply because it has been surging in recent months, and perhaps this dip will teach them a lesson.Panic selling will continue to play a significant role in Bitcoin price swings. That is a reality that no institutional investor will alter.

Knowing Bitcoin's past history with regards to the pump and dump of its price can literally lead you into conclusion that things were just fine even if you see that the current state of its price is bleeding in color due to drop as of the moment. But if you were a newbie having a hard time to understand such thing, you might get easily be tag along to sell their Bitcoin holdings due to panic of loss that they are thinking to be never be regained or other things that concerns them to do sell their Bitcoin. Panic or getting afraid of loss will not get you to work into something good so instead of having those, better get calm and put your trust into Bitcoin.

Bitcoin already dip multiple times after it break all time high especially when it hit 40,000$  price which almost down for more than 40% plus or minus. People already learned there lesson. Only newbie traders are those complaining and starting thread about Bitcoin when dip is occurring.

The impact of the Bitcoin market falling on the basis of the revenue tax proposal imposed on Bitcoin transactions by Joe Biden has come on all coins in the market.  So not only on Bitcoin but all cryptocurrencies are flowing downwards.

Many people are shocked by the drop rate of Bitcoin. It also influences the altcoin that is really dropped only in several hours.
Well, about Bitcoin, I am still pretty sure that the price of BTC itself can still rise up. However, we can't predict when it will happen At least, it will still happen during this bullish trend.
This is a market correction, but more dumped than previously. ANd for me also same with you, HODL

What you say is correct! When participating in the long-term and experienced electronics market, Bitcoin decline is not afraid. You need to be patient and wait for the opportunity. Don't rush to sell your Bitcoin price to others so that when Bitcoin increases they have the opportunity to become billionaires and you don't. Sorry when you let that happen. Keep a cold head and awake brain when investing in Bitcoin.

I admire the OP as he has not sold any satoshi since 2013. It means he can afford to hold long term and by now, I guess, he is enjoying the retirement from all the hullabaloo in  the corporate life or from 9-5 job. Not many crypto holders can hold that long as at some point like in 2017, I believe a lot sold their stash. But up until now, he is holding. That's epic! Most newcomers are scared right now, because btc drops. But if we compare the price in the last decade of bitcoin, we can say, we are still doing great.

Wow, I actually smiled reading the title...
So this is it...but I think everyone is selling their Bitcoin now, not only weak hands. I sell some, not all. This is the wisest thing to do since I was thinking that HOLDing depending on the market situation. You hold for a reason and I sell also for a reason. Holding isn't a lifetime job, we often sell for the sake that we are aiming to get a profit from our investment unless if you don't have such intention.

As long as it doesn’t drop to zero a single snap were good. I believe we will experience a long bullish market this year so this drop could be temporary since the support is very strong compare to past few years. No reason to unload BTC this early, more positive things are about to happen.

The fud started with the waste of energy in mining BTC and then a province in China blackout but didn't work to make the BTC drop further but the news about tax had worked for BTC to dip this low making the holders dump as well. But I don't think many will really be selling when they know the governments are also in crisis. We still find BTC as the safest asset. Fuds are coming still like Korean exchanges are being seized by governments, I think this will really make the DEX to be highly used soon.

You shouldn't be surprised, given how bitcoin's value has fluctuated in the past. However, I suspect that some people have overlooked that bitcoin is volatile simply because it has been surging in recent months, and that this drop will serve as a wake-up call. Panic selling will continue to be a major factor in Bitcoin price fluctuations. No institutional investor would ignore this fact.

True that. I too believe most most have forgotten that there could be a correction in the market like you said because it has almost been an upward trend for Bitcoin for a while so once this happens, you would definitely see panic sell off like this.

Secondly, I dont think that the institutional Investors would mind that because I understand most of such investors come in around that price so I dont think they would be trying to sell when that happens only some individual investors i guess.

You shouldn't be surprised, given how bitcoin's value has fluctuated in the past. However, I suspect that some people have overlooked that bitcoin is volatile simply because it has been surging in recent months, and that this drop will serve as a wake-up call. Panic selling will continue to be a major factor in Bitcoin price fluctuations. No institutional investor would ignore this fact.

I think people have already gotten used to the price drops because that is a market where there are sellers and buyers, the price will never just increase without having price drops. and if all people do not sell then the price will not increase and we will not have a market either. someone will always have to buy and someone else will have to sell


wow you must be rich


there are people who want to maximize their profits by buying low and selling high, others who have their target selling prices. each person enters this market with its own objective

It have been long I have been into cryptocurrency and I hard different kind of experience so if bitcoin price is dropping is definitely a normal thing which happens generally every coin will definitely pump and dump but only the strong and experienced once will hold there coin as far as you are not holding a shit coin if a coin is dumping its definitely a normal thing which will happen to a coin you don't expect a coin to be pumping without correction happening or a dump happening but only the strong once can withstand the dip without selling.

You are saying totally right my brother. Just hold bitcoin for future to get massive profits. Many peoples have sold all of its Bitcoin at 10,000$ or even 20,000$. And thought that bitcoin is a useless currency so holding it for long term is not beneficial. And now bitcoin reaches to 60,000$,they feel himself the unluckiest people in the world.

Bitcoin is the best coin to HODL, because sooner or later the price will continue to rise, so Bitcoin holding must be done to be able to get big profits
in the future. Only all weak hands will sell Bitcoin at this time, because they probably can't wait for the Bitcoin price to hit at least $ 100k this year.
In the end, all weak hands will regret if knowing Bitcoin maybe can reach the price of $ 100k as predicted by many people. So it is best not to rush
to sell the Bitcoin that we have.

It is normal for people that are new to crypto to panic when these corrections happen. Let's admit that we also panicked when we first experienced it too. And as what my professor in college always said, experienced is always the best teacher. You can't avoid a mistake if you didn't experience it yet personally. So for those newbies in crypto, if you trust the potential value of bitcoin or any crypto you hold in the future you should just hodl it. Don't be swayed from the fuds when the market is dumping.

Days ar done and now this is for strong hands and for those willing to hold and trust bitcoin.

Check the market now, Bitcoin is near breaking 60,000 again and this is a sign of coming to new ATH like what Ethereum does.

Of course, when they sell, what is done with the aim of taking precedence. Moreover, we know that during the pandemic, everyone feels difficult and needs funds to survive. We have to admit that during a pandemic many people are having a hard time.

but if they sell because they are afraid their value will continue to fall, or as you say that long-term investing is not profitable, of course at this point they will feel sorry for making the sale. did not think that bitcoin was able to get up and reach a high enough price. but please remember that the price is not maximal and will continue to move up. remember that the end of the year is still quite long and there is likely to be a significant spike in prices.

I recall someone posting here in the same board with a title around the lines of "HODL you m_____". If that wasn't encouraging like this thread, I don't know what will. :D
Though we can't blame newbies on panicking to the bearish sides of the market though. They'll learn that they screwed up surely.

And it was very late for them to realize that they are wrong, mostly it happens after regrets.
This is a thing that we can find no solution as it was depending on how we respond to the market change and also how to control our emotions.

Almost everyone saying HOLD and HOLD but later on, they''' find themselves they were not capable of doing it especially when the market continues to decline and their minds start to get in trouble and then start to think negative which ended up selling at losing.

We can never change this, that is the fact.

Absolutely agree. You shouldn't invest at all, not only in crypto if you are going to sell everytime something goes down. HODLers are gonna win in the end.

That's right mate! The hodlers are the one's who will win and earn big profit at the end of the day. If you intent to invest then sell it immediately then crypto is not for you because crypto are for those person who can take the risk and hold until the price up not the price drops. I've realized these for the past years because the first time I joined here and invest in crypto, I am always selling my coins immediately and not holding it for long and that's my mistake from the past that I want to fix right now.

Don't take my words in a negative way but, holding in not that easy, especially when you are from a third world country or have financial issues or just don't have patience. You need a hell of dedication in order to hold for years and survive the world if you don't have a strong backup. I have done holding strategy for a long time and sold only when I didn't have any other option, that's life, cant compete with it.

Hopefully, this time the hodlers will be the last men standing.  8)

we must be able to refrain from selling bitcoin at a very cheap price. we will be disappointed after selling bitcoin at a cheap price, it is better to hold onto it because the price of bitcoin will continue to rise after experiencing a descent, this must continue to happen.

This sudden downward trend in bitcoin prices could create “shock therapy” for new investors. but traders and investors from 2017 already understand the volatility and risk of crypto assets so this decline should be a normal thing, but after the price rises again, usually FOMO will return.

You shouldn't be surprised, given how bitcoin's value has fluctuated in the past. However, I suspect that some people have overlooked that bitcoin is volatile simply because it has been surging in recent months, and that this drop will serve as a wake-up call. Panic selling will continue to be a major factor in Bitcoin price fluctuations. No institutional investor would ignore this fact.

you are telling the truth. In this market, everyone is trying to buy each other's hands, and the downside is that when you give what you have to greedy whales at a low price, you do nothing but make them rich. Trust bitcoin and believe you will win in the long run. the whales in this market do not feel pity on people, and by taking advantage of the fluctuations in this way, they try to panic people and get their bitcoins. price drops keep whales happy.

Long term holders will not put down bitcoin because they believe it will develop better in the future. A temporary decline does not mean that BTC will fail.

If you give up bitcoin because the price of bitcoin is falling, you will become a real weak person.

Those who give up bitcoin now will regret it in the future. I am a strong man and will always support bitcoin. :)

You know, the first thing that struck me upon seeing this thread is its title about weak hands. Seriously, it made me laugh! That the once actually selling and of course I've sold a few to solve some needs that required me selling but, does that male me a weak hand? I can't say! Although, when it gets really tiring and most bitcoiners wants to sell almost everything, it could be regarded as a weak hand whom was making some attempts on actually hodling bitcoin.

Again, I've seen or heard of the saying that, some users could hodl btc for that long (2013-date). Is that actually possible or some exaggerated fact. Anyway, its good, impressive and motivating too.

weak hand mean people just sell bitcoin on high value without thinking about 'the price will grow more and more'.
the fact, many people sell in top value, than wait until it drop, so they can recycle their money, buy and get more bitcoin than before.

So are the people who panic sell whenever the prices experience some dips that will go on for a week. The problem with waiting for it to drop is that there is an uncertainty that the prices won't go down and just continue going up so it is pretty risky.

But that goes the risk mate, because for us to earn we must gamble in crypto market, remember that volatility and decentralization is why market of crypto is unpredictable.

You can always minimize the risk when investing, no need to go for a leap of faith every time that you invest in bitcoin or cryptocurrency. Remember to only invest what you can afford to lose.