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What I saw that dropped the downturn in the price of cryptocurrency is the amid coronavirus which was said to be a pandemic, thus has been in the mind of individuals who holds some proportion of cryptocurrency most especially the Bitcoin. Those who holds these cryptocurrency were panicked and later embarked in a large scale sell off from their weak hands. This actually made the cryptocurrency market dropped down beyond imaginations as this type of dropped happened in 2013, when the price of Bitcoin dropped 50%. The only thing the community would have do to Savage this situation would have be never panic sell your portfolios.
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Your bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2526732Your current posts count (including this one): 301 Your earned merits amounts in the last 120 days period : 49 BTC Address: bc1q6trqxwp90nmpq29jd966z6v3n4nrtwxrgg5s34 Signature and avatar will be updated on consideration, looking forward to experience you CM. |
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bitcoin died more then once , it wont die now either , just my opinion
You're absolutely right. We have had many times when the price of Bitcoin and cryptocurrencies dropped far worst than what we have seen, though, the amount then wasn't what we got before the crash step in. We can't run away from the truth, this crash also affected the stock market. Let's wait when the stock market recover and see Bitcoin not recovery alongside with the stock market. The end is not here fellas, we have more good days in Bitcoin and cryptocurrency than the bad days, let's wait patiently for the price to recover from this downturn. Bitcoin and cryptocurrency will turn the game again and haters will regret their actions not getten involved. |
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Hold! Hold!! Hold!!! Is the answer I normally give to friends and families whenever there's a price dump from the market. This has been my slogan almost all the times, this happened to me during the 2018 season and I hold till when the market regained it average position before I sold off. Those who panic sell are those who contributed to the downfall of the recent happening in the world of cryptocurrency and not majorly the pandemic ravaging the global world. Not saying that, they haven't contributed to the downfall but panic sale created more deep than the pandemic.
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Gambling addiction threads help me realize that if i don't stop, it will destroy my life.
Also i need to change for thag future that i am building right now. I cannot continue gambling and then lose all the time.
Good to see you achieve such from the forum, at least you have been impacted positively on this forum. Many have been wanting this for their self and you have just be healed from your addition. This has been my fear, not to be addict of gambling because it can be detrimental to ones health and also can affect the general family. Addiction don't bring anything good to the addictor rather, a set back for life. Though I gamble mainly because of entertainment and not solely for money like others does which lead to their being addicted to gambling. Am not of the view in seeing gambling as a means of earnings but as a means of entertainment. |
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I see the fun-filled gamblers as those who have control over the game, no pressure , no anxiety , no fear. They simply take whatever outcomes they see. Most times these kinds of people are winners. When they take it as fun not for the money. But anytime there is a switch, the reverse can be the case.
That's the truth fellas, personally, I get involved into gambling as processe of getting fun from the games and also getting been entertain while gambling. I have never take gamble as a means to earn money but as a process to have fun with friends and family around me. I do gamble with my siblings also and this has been one of my best time with love ones. So, the outcome of the game is fun with friends and families. |
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Safety first before talking about betting. Although, here in the country there's no form of coronavirus and every gambler are going about their usual ways doing what they know how to do. Am just back from Bet Naija where I went to place a bet on today teams, so, nothing like fear of coronavirus. But bad news for those addict in those affected areas, its time to come out of addiction as this is the only means they can be safe from the virus. Those who have family and love their family will never go into suicide to gamble all in the name of addiction, just assume this per se.
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the percentage of the fall was more on Bitcoin than the fiats(stocks)
Stocks are not "fiat" and I'm not sure if this is a language barrier or a misunderstanding on your part. Believe me, that is a typo error from my end. Stocks are different from fiats, it might interest you to know that: I came around from stock and pretty have some average ideas on it. but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.
I seriously don't understand your reasoning here. Maybe I'm not up to speed on what the Fed is doing, but where exactly did they inject that amount of money?
That money was injected into their financial system and it was 82% higher than all the investment made into Bitcoin so far. You can check the article for clarity in the OP. I think OP really needs to think about what a safe haven asset really is.
1Bitcoin =1Bitcoin: this make me believe that it is a safe haven. Bitcoin was made for p2p exchange and not a currency. |
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~~~~
Do you still insist that Bitcoin isn't a Safe Haven?
Simple answer to this simple question, do you want change of the current financial system? Do you invest based on the technology the is written on the white paper? Or, are you here because of fiat gains? The Debt problem now is creating more children slaves in the future. To win against it, hodling bitcoin means fighting banks! Bitcoin is created to fight banks and not an investment scheme. Changing our mindset today will free our children tomorrow. Think about it. Your type is what we need right now, you're absolutely saying the whole truth. We'll need to fight back these oppressors from the world, they're everywhere even in my country Nigeria. They have kill the whole system and enslaved us and our children yet unborn, we need freedom and we must be free from their tyranny. Take a look at this: (off-Topic reply) "The N10.59 trillion 2020 budget in December 2019. Meanwhile, the budget, which is 18.8% higher than that of 2019, is largely expanded to service debt." Facts The strongest force for Bitcoin is Bitcoin community and not those who fall in love when there's bitcoin bubble and turns hatred when it's at bloodbath. Standing with Bitcoin will help take over our freedom form these selfish individuals and institutions who derive pleasure in enslavement. Let's be on records that we will all fight with the last blood until what belongs to us come back to us. ~~~~ The time to ACT is NOW! Don't waste time on your selfish mindset. Be Open Minded and let us all be free.
Definitely, we must tell the truth that: Bitcoin is the only SAFE HAVEN and nothing more. |
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~~~~~~~ if you're feeling that your portfolio is losing -50% of its value, I bet you'd feel anxious and fear for the worst.
Absolutely correct, this resulted to series of panic sales from holders who seem to be hit harder during the crash. We're not against such move but hold for a long-term still give more than in panic sales. The facts should be clear enough for cryptocurrency holders or investors: "get rich quick aren't available anymore and anywhere around Cryptocurrencies". Long-term is the answer even at loss. ~~~~~Bitcoin will 'win' in the long run because of the supply and demand law, but you can only live in the present.
 yeah, "live in the present" matters a lot to humans but never to forget to live for tomorrow. |
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Bitcoin fell some days ago and many were of the opinion that, there's no need to hold the said cryptocurrency because it was not able to stand against the coronavirus epidemy. During the crash, the percentage of the fall was more on Bitcoin than the fiats(stocks), but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin. It may sound crazy, but I think it takes $700bn to over a $1tn to stabilize the markets. The last few weeks are a prime example of why digital assets, namely Bitcoin, have a place in the global markets. Bill Herrmann. No doubt that Bitcoin is a Safe Haven and not what others speculated about it being weakest during the crash. Do you still insist that Bitcoin isn't a Safe Haven? |
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Taking notes on what you earned is obviously very helpful but what I admire is your indomitable will to fight the urge to gamble, not many have that kind of discipline.
You're right, self control while gambling make any individual to withstand gambling addiction and self will to fight against inresponsible gambling. We'll have our individual level of gambling, some gamblers will remember how hard they were able to get some stash of fiats and be caution of how they intends to use the money. While some addicted gamblers will not ever think about how difficult they earned what they are about to gamble, which can be loss to the system. Those sets are the ones who can gamble while borrowing. Personally, I will remember how difficult I earn my money and be more caution of how its be use for the family. Actually, am a gambler but with consciousness of loosing to the system when gambling. Am able to control my will power towards gambling and most importantly, gamble for fun and not to earn from gamble. |
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Depends on the 'type'. nCoV is one type, Venezuela is another.
There is too much fear and worry with Corona. The world is crumbling under the weight of the virus. Absolutely correct, fear contributed to the dip in price of Bitcoin and other cryptocurrency, we all know that, with Bitcoin volatility, it won't be able to stand against turmoil or epidemy. The global shift in financial institutions will at the end shift to digital currency and holders will reap the fruit of holding for long-term. The effect of this coronavirus will cause a global recession which will engulf the whole world, then maybe as the time goes Bitcoin can be a safe haven. |
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Personally, due to Bitcoin volatility will be a major cause which will scare many potential investors not to have confidence in cryptocurrency. We have seen the bloodbath which took place recently, people with be afraid to use cryptocurrency in times like this because of their volatility in nature. Before now, we thought cryptocurrency to be a safe haven but the reverse was the case when it dropped far further than stock market. Though the advantage if using cryptocurrency will be seen when the market start renouncing back to it normal position. Bitcoin is very sensitive to recovery than the stock market.
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It seems like the media aren't helping at all, they are the reason there is panics all around the globe right now, more over how many stock holders or crypto holders died from Coronavirus if I may ask? I guess none so why all this?
That has been the major problem if the medias, they created fear in the mind of the weak and try to distract the strong from their stronghold. This has been the issue affecting the global market where many things are currently taking place. The rate at which the entire financial institutions fell was amazing, even the said Bitcoin wasn't able to scale through this challenge too. Although, based on the restrictions place in some countries not to travel can be a helping hands that can be possible in handling coronavirus spreading. This will not last long, it will stay for the time being and not for long-term. Covid-19 is just for a short time. |
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Signature since been updated, thanks for the opportunity.
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The current situation in the market is not permanent and will not be, as coronavirus is not going to be permanent as such. We're seriously messed up with our own decisions as investors(Individually or institutionally) the panic sell-off was the reason we're here with this question, hence nothing to be worry about as usual. We'll know cryptocurrency to be volatile coins as such epidemic can trigger their volatility and when thus happen the entire industry will feel the impact, as we have seen today.
The basic causes of these drastic fall was the panic sell-off orders which was as a result of containing the virus by not allowing some travel tour by individuals. This actually created some strong feelings on holders of what to use as fiat in this case. The sell off was to enable many families Carter for their needs while the restrictions last. It won't be permanent, just hold on.
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Bounties are free to participate when you're interested as a hunter, this make you responsible for everything that will happen after the end of the bounties. Yes off course, many bounties might not paid hunters because the team behind the project might decide to move on with their scam intentions like we have seen before now. I did some bounties without a single pay, this was my disguised moment in the world of cryptocurrency and I moved on. Before going into any bounty ensure to read and understand what the project is all about. When you can't withstand disappointment, quitting the world of bounty is the answer.
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Currently, the price of Ethereum has dropped down below what OP speculated, though I never taught OP saw this coming. The downward slow and fast movement of stocks market and oil including the said cryptocurrency which was speculated to be a safe haven has all proof to us that, we have failed somewhere. The reason why Bitcoin and other cryptocurrencies fell was because of you and I who cannot hold their portfolios in time of trials. There has been panic sellers in the stock market and later drifted to Cryptocurrency which landed us with Ethereum being $105 and not even the speculated $200. Possibly its time to accumulate the dip for a better rebound in cryptocurrency prices.
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