It seems that the bear market is not over yet. While it is difficult to predict exactly when a bear market will end, based on past trends, it could take a while. So, the thing that can be done to survive in the current bear market situation is to hold the asset in the long term rather than focusing on its current price. Moreover, many portfolios have been hurt by bear markets and may take longer to recover.
It's true that we have to wait long time to recover our portfolio but it will be starting to recover soon. It's time to hold strongly for long term and if possible it's good period to buy more to fill our bags. Many investors are in the loss and they're waiting for good time. We can't predict exactly when market will start for bull run but if we are able to hold strongly, we can get good ROI in the future. Current strong bearish sentiment of market doesn't suggest that bear run will be over soon it might continue for many months to come because the whole world economy is in crisis and crypto doesn't work in isolation, it gets affected by rise in inflation, decline in GDP growth. Once we see signs of improvement in world economy, crypto will definitely start recovering. I am expecting another full year of bear market. Base on the previous history of Bitcoin market price, we are still a year short from market transition. Just look at the 2018-2019 price movement. There is no sign of any market transition there. It is either sideway or crash-relief activity in the market. So whether we like it or not, we have another full year of opportunity to buy Bitcoin at its discounted price. |
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Currently looking at the facts that are happening, Bitcoin is indeed only a speculative asset, which is an asset that is used to get a lot of profit in the form of investment because of the high volatility of bitcoin. People are still not fully using Bitcoin for payment for goods and services due to regulatory issues that are not fully operational in some countries.
No. You can't conclude that Bitcoin is only a speculative digital asset when there are already some people who really use it for payment purposes in reality. It is still considered a speculative asset because the market is fully driven by speculation. That is the reason why Bitcoin is labeled like that, IMO. Most people buy Bitcoin not because they will use it to transact but because people speculates that buying Bitcoin will give them profit in the long run. We can't expect all people suddenly use Bitcoin as a payment tool, it needs a process to be adopted by people. Actually, Bitcoin adoption for payment purposes has shown impressive progress, you can see varied companies that accept Bitcoin as the payment tool for their products/services here: https://99bitcoins.com/bitcoin/who-accepts/. If it has no progress in our country, it is because our government only allows our national currency as a legal currency in our country. So, no hope for any other currencies to use, including BTC or dollars. Indeed Bitcoin development as mode of payment has a good progress but still the majority of people buying Bitcoin is to get profit and not to use as payment. It would probably go up to another level if Bitcoin will be accepted in almost every local marketplace. That time, I am convinced that Bitcoin isn't a speculative asset anymore. |
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I've often heard that nothing can stop bitcoin.
While this may be true, I would like to make a list of all possible ways in which banks and governments will try to fight against BTC. So we could find ways to anticipate against it.
Some ideas:
- Prison sentences for people getting caught owning BTC, trading it or selling goods in BTC. Penalties so severe that most people will back off. I often hear local media associate BTC holders with criminals and money launderers, and expect governments to treat them as such. Local banks in my country can face penalties if crypto profits are transfered to a local bank account.
- Regulation for exchanges getting so tough that they can never comply, which will cause them to be shut down, which would generate a run on crypto with a similar effect to FTX bankruptcy.
- Liquidity crises of the exchanges. In case of a bank run, banks can pay about 3% of their account holders. I wonder which amount of liquidity an exchange should have to be solvent. FTX behaved like a bank, but the difference is that FTX' bankruptcy can cause a crash of BTC price while a bank run just leads to the bank being bailed out by the IMF, without the currency getting destroyed.
If you think that none of these things is a realistic threat to the system, let me know.
If there are other threats, likewise.
@OP people are stubborn, the more you suppress them, the more they rebel. I don't think putting Bitcoin supporters to prison will solve the problem of people flocking in to Bitcoin. True many will have fear but most will feel being suppressed and might rebel against the government by giving more support to Bitcoin. With regulation on exchanges, Bitcoin doesn't need centralized exchanges to be transferred or traded. There is also decentralized exchanges that can take the place of centralized exchange if need be. If people starts trading via p2p and decentralized exchanges, there is no need for the exchange liquidity since transaction is directly done by the party involved and no third party is needed for it. |
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Do you really see Bitcoin as a religion?
No, but I see Bitcoin as essential tool to improve the financial system of every country. Not because we are believing in Bitcoin means we are faithfully attached to it. Trust and faith may sound the same but they have a different level of meaning. Besides, I always think that missing out on something is a doom for that person. Somewhere in the future the same opportunity will knock again so all those who missed out just have to be vigilant and observant next time. |
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This simply means that WBTC reserve fund is not 1:1. I would convert my WBTC asap If I were you. I agree with @OP that this is a sign that there is a possibility for WBTC to crash like FTT and Luna. Why? Because the fund reserve for WBTC is not enough to cover the WBTC in circulation. It is better to get out and sell your WBTC than be sorry when people start panicking and a WBTC sell off happen.
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I don't agree with @OP's definition of bad beginning for crypto beginners. I believe that it will be a bad beginning if a person who wanted to get involved I crypto industry does not do his research. Knowledge is very important so does the right information. So I guess, to be able to avoid to have a bad beginning, we must equip ourselves with right knowledge on whatever venture we are going to invest or get involved with.
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Yes, Bitcoin can survive an apocalypse. Because bitcoin is actually the most robust network on the planet, as well as the most likely to stay alive in some sort of apocalyptic situation.
That is actually quite true. The reason for the robustness is the decentralization and internationality that we can not see with other networks ecxept for the internet. IF there is a large war or nature catastrophe in one part of the world then there will still be miners and nodes somewhere else. This is different for centralized payment systems like Master Cards, that will for sure be taken out if the American continent will be of the grid for some time. If the internet is cut off, miners are no longer around to set up mining rigs, no electricity and the population is reduced to zero. Do you think Bitcoin will survive? Or let us change the question, Do you think Bitcoin will continue to operate? Obviously it will not because there are no more living that will maintain the network let alone the internet. |
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40 years ago, Bitcoin's prehistory began; will Bitcoin mark the end of the journey? Will Bitcoin not eventually merge into one of those branches? Is Bitcoin the last hope? Technology is not static, it constantly improves and advances as new knowledge emerges. Bitcoin does not have to merge or change the way it operates for the network to keep running, but the framework of the technology can be used to build innovations which can be applied into different niches. I highly agree so I think the 40 years of journey is too short for Bitcoin. Though I agree that Bitcoin is at its early phase, the possibilities of Bitcoin in terms of technological advancement is vast. Saying that I think 40 years journey for Bitcoin is too short. I believe the road map has come to an end. and since we are still in the early stages, bitcoin is still relatively cheap. Do you mean the roadmap of Bitcoin or of development in the blockchain tech space? If it's Bitcoin, its whitepaper did not include a roadmap, and in the general space, there would not be a break in technological advancements. Yeah, roadmap for bitcoin will continue as new technology and innovation is created or discovered. I believe Bitcoin will continue to grow and the technology will continue to advance until Bitcoin can compete to any kind of payment system available in the industry. |
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As usual anti-cryptocurrency institution will use this FTX fiasco to convince people to back out from getting involved in crypto industry. Though it is very evident that Crypto specifically Bitcoin has nothing to do with this exchange collapse and it was SBF who is responsible for the mess. I don't know the reason why they don't blame SBF for being incompetent instead they blame Bitcoin and its industry for the mess these few people had done.
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(I have 2 house, which I want sell it is abandoned house)
there is no sense at all mate , you are asking for an abandoned house so what can you lose or win if ever? and the main concern here is that , do you really believe that there will be an interested buyer using their coin buying your kind of house? and where this located? is it in city of country side? There will always be a person interested in one's garbage let alone the guy is selling a house although abandoned has a value in it. And I think @OP is not selling his house in BTC, he is selling it to buy BTC. Bitcoin investment still not guarantees secured profits because of its high volatility, so never compromise your property just because you are tempted on the future profits of bitcoin. Your property will always be your own possession no matter what but with bitcoin, you will never hold an assurance that it won’t lost its value and you sell it eventually at a cheaper price. You can always invest in bitcoin if you want, but only an amount that you can afford to lose, and selling your house will never be reasonable and definitely an illogical thing to do.
But Bitcoin graph shows that Bitcoin can be a good investment for profit especially when a person or investors buy Bitcoin when it is at the bottom. We have seen that every halving, there is a huge rally of Bitcoin market. If a buyer is wise enough to know this trend then it is 100% that investing in Bitcoin is profitable. |
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The both boxers have been embarking on verbal fists for quite a long time, now its time for the fight to commence. Next year will be a better beginning for whoever wins this fight. Benavidez known for his trash talks already said he'll beat the hell out of Plant. “This fight for me is 100% personal with Caleb Plant,” said Benavidez during an interview with BoxingScene.com. “I’m really looking to go in there and beat the shit out of him.” On the other hand, Plant needs to get back to his position after losing his title to Canelo, I think a win for him will be of good advantage to his career added to his previous win against Direll, which Benavidez commended, yet Benavidez is not bothered in the least about Plant's win over Direll as he's the D' day that he'll land numerous KO on Plant. “My plan is go in there and do what I know I can do to Caleb Plant and that’s gonna be put a beating on him worse than Canelo.” https://www.boxingscene.com/david-benavidez-this-fight-100-personal-with-plant-gonna-put-beating-on-him-worse-canelo--170689It looks like both boxers is hyping the fight. Noises from social media only confirms one thing, they wanted more people to know about the fight and get interested via their "verbal fist". And I am sure that is one effective way of making someone curious and possibly watch the fight. Anyway Caleb Plant is a beast, I watched how he got Dirrell KO'ed in just 1 punch. So Benavidez getting knockdown in this fight isn't impossible. |
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Right, if he wants to keep his name of top of this new division, he should come in with a bang, so his goal is to really win by a knockout. And that is what known from Casimero, so arrogant and brandish that you hate him sometimes but he delivered the goods when he was at the bantamweight, it just he fell short of fighting Butler or Inoue.
I do not think that Casimero's name will explode after defeating Akaho. As far as I know Akaho is still an unknown boxer, so defeating him doesn't mean Casimero will be on top again. If Casimero wanted to be listed as among the top contender of the Division, I believe he needs to fight more boxers and even a rematch with Tete and beat him. That maybe put Casimero to the ranking again. But since he move up to super bantamweight, he need to be impressive and just not just a ordinary win because he is not a ordinary boxer. He has the talent and the boxer and I think he can regain back, at least one title in 122 lbs will do good for him.
I agree, a KO is a good win, or a dominating performance that will give him a mile score in UD if the fight lasted till the final round. |
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I fully agree, the name DK Yoo has been put to the map of known people after Manny accepted his deal of an exhibition fight. But regardless it is always good to know that Yoo agrees to some of the proceedings of the fight be given to the charity.
I don't know him and when this match has shown that they'll be fighting for a charity cause. Then, that's where his name shined. Became a good name because of the cause and at the same time, people now have known him because he's going to be up against Manny Pacquiao. I'm looking for some websites to know how much the tickets would be. Does anyone know where the tickets are up for sale and how much the tickets will be? Same here, I haven't heard the name DK Yoo until the announcement of the exhibition fight against Manny Pacquiao. I think DK Yoo got a jackpot when Manny accepted the deal to fight him in an exhibition match because many people will look into his profile. It is also a good advertisement and exposure for his social media channel. About the ticket price, I also looked at the internet but I can't find any information. |
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Airdrop in most cases are not profitable, many use it to phish for emails or members to join a telegram group. They also use it to support their marketing portfolio so that when someone look at their contacts there are lots of them. This can be use to attract client.
What worst among the airdrop is they are asking for KYC. Funny how people fell to this trap and sad that after giving their information they are left hanging waiting for the airdrop that won't arrive.
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I think the FTX collapse is good for crypto even though it has a huge negative effect at this moment. I believe it is good to weed out faulty services and greedy developers and founders than let them stay in the cryptocurrency Industry. Actually I so wanted to see fraudulent company getting exposed one by one even though it will cost the market to drop and crash momentarily but the long term effect would be good because the ecosystem is cleansed of bad actors.
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Just another reminder that the bitcoin market is cyclical, and everything that we are seeing with bitcoin now has already happened before and the necessary lessons should be learned from this: There is no eternal bull run, just like there is no eternal bearish trend, so a dump is always followed by a pump. This was well shown to us by the cycles of 2014 and 2018. Now the market is dominated by bears, but sooner or later it will end and recovery and growth will begin: The low price of bitcoin is not a reason for panic and concern. This is the rare opportunity to buy cheap bitcoins. If you miss this moment now, then next time it may not be presented very soon. A correction is a time to buy, not to sell. Don't worry - just HODL (or buy more).  In regards to the bolded, it's important to note that there could be multiple dumps before a pump/pumps. A dump followed by pump is not always guaranteed I greatly agree, a dump followed by pump can be a bull trap that where a pump is followed by another dump. We have seen this kind of strategy a lot, just like what happen recently where the price of Bitcoin slightly recovers but got dump when the FTX fiasco happen, then the price even go lower than its previous bottom. To the second bolded, better to buy whenever there are significant corrections. And don't buy what you can't afford to risk so you don't panic when things arent going your way. Too much risk makes people panic when things are going according to plan. True, but it doesn't hurt to DCA every time a new bottom is recorded as long as the money used is something that they can afford to lose. The important thing is to always contribute something good and useful (not necessarily money) to the Bitcoin system if you want your investment to keep increasing in values.
Make sense, every little effort if collected is way better than a single huge effort. |
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I never hate media because it is still useful to others matter but sometimes it turns me off when keep hearing always on the negative side of crypto without telling us what we possible to get from it. Sometimes I can say that the media are biased in their reports, I'd also say that they got influenced by someone else. This is the reason why we should not be reliant on them but rather do research from other sources. For now, it gives us no confidence at all because media are now become a medium to spread negativity.
Yeah, instead of hating media, we must be selective of information to absorb. We must compare the information with other sources and check the credibility of the writer. More often than not, unknown writers often release misguiding information with an intention to cause chaos or FUD if it is in the marketplace. So we shouldn't make ourselves to easily believe anything that we read online. We must verify them as much as possible. |
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Apocalypse, meaning no survivors.
The Luna disaster, FTX, the russian war, other economic disasters are not the apocalypse for bitcoin. This will never render bitcoins worthless, but the current impact you should take for granted. I may not fully understand what you mean, but my guess is it seems to have something to do with the recent disaster.
True apocalypse means no survivors so the question is already answered by the question itself. With regard to Luna, FTX collapse, Bitcoin had experience way more than these and yet it survives and even recovers and break its onw ATH. We just need to be patience and watch how the Bitcoin market recovers and turns the red market in a greenish Pasteur. |
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crypto is a scam, it's no better than the government fiat currency that has enslaved the world
Bitcoin is not a cryptocurrency? it is also part of the market but it is different from the rest. Bitcoin would survive even without altcoins, but without altcoins bitcoin would not be as popular as it is today. You should remember that 90% of the participants in this market are for profit, not for technology or privacy. If there was no crypto market then bitcoin would have no volatility then no one cares about it. Bitcoin is not an altcoin but a cryptocurrency. Both altcoin and Bitcoin is under the umbrella of cryptocurrency. Probably barto123 is confused about an altcoin and cryptocurrency. Though many altcoins are created scams, I still believe that a few of them are created with sincere intention of innovating the cryptocurrency industry. These altcoins bring new knowledge and application on the table where Bitcoin is very slow to produce. Altcoin seem a testing ground of cryptocurrency innovations. So I believe no matter what happen in the market, Cryptocurrency will survive. Cryptocurrency Industry is bigger than what we think. |
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I believe the op's expectations of $30-40 by the middle of next year are reasonable, as well as the eventual $100k target. There is no guarantee that this will happen, but it's realistic, given that the bear market has been going on for a while and more than 6 months from now is a big amount of time.
I do also agree with buwaytress that spenders matter because they legitimize Bitcoin as money, show that it is used this way. So we should never tell people who want to spend BTC (not panic sell BTC) during the bear market that they shouldn't.
But hodling instead of panic selling is a good advice.
Holding is a good suggestion that must be applied when the market continues to fall, panic will not solve the problem, panic will only make our assets disappear when selling at low prices and of course, it will be detrimental. I agree, unless we are still at profit where we can sold our holdings at a profit and buy again when the market crash, we must hodl when the market is crashing. When we see the value of BTC crashing, as long as we don't sell, we only see paper loss which can be recovered when Bitcoin price surge again. This bearish 6 month has been a sign that bitcoin will hit a bull market again soon. Whoever becomes a diamond hand by holding on as hard as he can gets a lot of benefits. the $100k target as the OP said is not wrong, it's entirely doable or not, but I believe bitcoin is over $100k.
Not soon, I think we can see the sign of Bitcoin bull either 4th quarter of 2023 or 1st quarter of2024, some months before the halving. |
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