So why do you need to be worried about what the rich people are doing? Bitcoin can be bought by rich and poor people and both can use it for a store of value in times when there are economic hardship. The rich will diversify into Gold and Silver too ...but poor people cannot afford to do that, so they look for ways like Bitcoin... where they can buy a few Dollars worth and still get the same result.  I know some people who are buying $10 per week and I know they are struggling... so this is a lot for them. They say the potential profit from a "Moon" price is more appealing than the 1 or 2% interest that they might get in a Bank.  If btc will drop 90% then we all need to worry The biggest hit is coming For a 90% drop there has to be a gain first if we're talking about a normal market cycle. If a 90% drop happens out of nowhere it means the fundamentals have failed somehow or something influenced the market like this black swan event. If it happens in a healthy cycle we first need to go up high and fast for people to start feeling fearful. Now they're all confident with the recent news about institutional investments and bitcoin steady climbing up but without incredible spikes in short time like in 2013 and 2017. |
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Everyone has the responsibility of their own decision. No one should blame Elon Musk for making a wrong decision. We talk a lot about his name, but we make mistakes this way. He said that we shouldn't invest all of our money in cryptocurrencies. Please be careful and cautious in your investments.
He's an investor and he makes mistakes. He lost a lot of money trying to launch first rockets and he's still losing a lot with every failed start or an engine landing. He sent a car into space which also is a huge waste of money but he was the first guy to do it and willing to pay big money just to be in the history books. If he really is the richest doge investor I feel like he's going to earn a lot of money this year. |
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We are moving forward every year and this growing confidence in bitcoin is shown by less volatility and longer market cycles.
In other words bitcoin is becoming more stable and more boring for traders but at the same more interesting to whale investors and institutions because they don't want big volatility but safe and steady gains. Before it was the money of the dark web. Now it's safety fund for the rich.
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As tesla dives into bitcoin and invests billions of $$, bitcoin will never go back below $43k IMO, expect bitcoin will reach another ATH for another time this year or so as other companies will follow (probably).
It will not if we look at technicals. In all previous bull markets bitcoin finally went down to about 2-3 times its old ATH when it finally bottomed. So if it goes according to plan, like all the last bull markets we'll go to about 100 thousand dollars or even higher and then crash down to maybe 60 thousand at once and then slowly bleed down to 40, maybe 35. Of course it doesn't have to follow the old path. Many people say that this bull market will be the longest in history and will continue for another 2 years. |
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My strategy is that I will never sell all of my coins. Even if one day Bitcoin is worth 100 thousand dollars and I'll decide to spend some because the profit will be incredible.
In any moment I'll try to hold at least 10% of my current bitcoins so that I won't miss an opportunity of it going another 10x.
Congratulations on realizing your mistake and sharing it with us OP!
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Unfortunately one of the most important cryptocurrencies now are stablecoins. If they get compromised so will the price of all other coins.
Apart from that ETH, ADA, XMR, these are the somewhat important, revolutionary projects. They have qualities that coins like BSV or XRP will never have.
Don't look at top 10 market cap. Some coins there are total shitcoins.
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Those of you who follow Bitcoin for years now should see a pattern here. JP Morgan always bashes Bitcoin and tries to manipulate the market. I'd like to ask them why are they so interested in this? They're a fiat company so why the constant interest in Bitcoin?  I think otherwise. If after Musk's move companies like Uber started talking about bitcoin the machine is on the move and some Bank's opinions won't stop it. |
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You'll not be getting that huge gain/profit from your investment if you are one of those panic sellers.
You have the got to hold and patiently wait for the best time, ain't that perfect but still, you are gaining in the triple. Only a few people manage to do this since we are passing $20k coz it probably many holders are selling that time.
Well, I have to ask you if you still have the gut to buy Bitcoin now? Will you still risk your money since many speculations that we are able to reach $100k?
Imagine that he's happy because he was able to buy at 10 thousand and sell at 30. He missed the run from 30 to 40 but he's still happy I'm not bashing OP just saying that it's all a matter of perspective. Our view depends on where we stand and for some of us making 10 thousand dollars is going to be hude but for others even 50 thousand is spare change. What matters is for you to feel good when it's all said and done, no matter what you do, sell or hold. |
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Musk started something big here.
Everybody knows that rich people closely watch each other's moves and they don't care what a million people on some Internet forum thinks but they very much care about the thoughts of their rich neighbor or their business associates. They did not invest because of the news, CNBC, mainstream media, internet groupies, teenage millionaires, but they will invest because some billionaires did it.
The real bitcoin bubble is just beginning. It's possible a year from now we'll see a 100 thousand dollar bitcoin and wonder why haven't we sold our houses and bought bitcoin with every single fiat that we had.
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I agree with those who say that it will affect it because people get scared that overly complicated projects are scam. Many times this was done to confuse investors so that they don't know what the project's goals are and how it is supposed to reach adoption.
If people don't find it appealing they won't invest and the project will not become popular. Most projects will never be popular so you can expect people to try to scam you because they know it's so hard to achieve anything in this market. It's easier to scam and make some money fast.
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Dogecoin was created as a joke and a meme coin and it is the most speculative cryptocurrencies on the market and this is what draws people to it.
Recently Elon said that it was made as a joke but it would be an even bigger joke if this coin went into the mainstream. It has an opportunity to gain on this big bull market and it surely will.
I think that it is overpriced but what can you do? Memes are often overused, people know it and still continue to post them even when the world has enough of grumpy cat, doge, nyan cat and the rest of the gang.
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This is not the first time Musk and his team have accelerated the price of Bitcoin and other crypto projects. This is manipulation in its purest form. Musk is looking at cryptocurrencies as another tool to add value to Tesla stock. And I also see Musk establish himself by watching how he controls not only prices in the market, but also people.  At least he's putting money where his mouth is. Jamie Dimon and his bank manipulated crypto market with his tweets years ago and did not invest at first. They were playing arouund checking what they can do and how much influence they have. As a bank all they wanted to do is short bitcoin and make some quick money. Musk is in for the long run. |
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So we are gona sell our top ? And for what reason they are going to buy from us ?
The top is something relative. For some people the top was 20 thousand and yes it was the short term top but in the big picture it was not the top. People who buy at 100 thousand don't see it as a long term top. Some will not see it as a short term top and it can really not be a short term top! Who's there to say that a top has to be a round number? |
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They aren't going to make a lot of money from these payments with fees being as high as they are but it doesn't mean they won't be accepting it and making money some other way Bitcoin is so popular now that a rumor of a company accepting it is going to put that company in the news for free. If they do it they're going to be in the news all over again. It's profit even if nobody really pays in Bitcoin for rides. |
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It will soon reach $50,000 no doubt about it. The current situation where more popular investors dive into Bitcoin investments drives the market crazy. Cryptocurrency will soon be the new trend of investments arround the world most especially Bitcoin.
I don't think that even this level is going to be the end. This bull market is different because it's dragging on much longer than the last one. In 2017 it was basically 3 weeks and it was over, now it looks like it's going to go slower and possibly drag on for months with minor corrections along the way but without a big single pump followed by a crash. I heard a smart thing said by a number of analysts that the top will not be what the majority expects. |
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If we follow the technicals the price does not go back to the previous top. In 2018 when it crashed from 20 thousand it never revisited 1000 dollars. It did not even go to 2000.
If you're waiting for a crash to invest you're one of those people who never do it because you're too emotional about it. You did not buy at 10 thousand because it was too much for you. Now you saw 40 thousand and would like to buy at 20. I bet that if it crashed to 20 today you wouldn't buy because you'd think it's going so fast that it could go lower.
Sorry but it's the truth. People like you OP are the ones left behind in every cycle.
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It's amazing that the person who started this $1 thread is still active here on bitcointalk. It had to be one hell of a journey! And there's a very informative post by Hal Finney who says that bitcoin is just too good to be ignored because not many things in this world give us an opportunity to triple our investment. If only more people had listened It's easy to look back and say I'd do this or that but it would require some enormous power of will to hold a $1 bitcoin until now. |
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This market is not for small traders.
You basically had a chance to enter early on and buy most of the strong coins that are now in a crazy uptrend like ETH and ADA, but if you decided to trade or jump from one shitcoin to the other you're still low on money and the market is at a higher level. It's like you're experiencing a fast paced deflation.
I think that you still can make money by investing and holding but if you continue to lose money trying to move small amounts of coins around you'll lose.
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It's nothing new - it's the psychology of the crowd... Remember the last hype, back then McAfee manipulated different coins every day just by saying their names... Unfortunately this time it turned out to be Musk, who I respect... I think that in the end there may be a claim to him!
McAfee did it only for his own gain and he was selling his support for fiat. He was never interested in crypto for other purposes than making some $$$ and dumping everything. Musk on the other hand gave hints to people that he was about to invest. He added bitcoin to his interests on twitter so if you followed him you knew that it was a good time to get some bitcoin and maybe a week later he made his move. He did not do it to influence the market. He bought to make profit and this move influenced the market, which is great because more companies will follow him. |
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Don't be sorry. You still made a better choice than people who never had any crypto.
Since you are still here you are again better than 90% of the society who were never here and aren't even aware of this opportunity. You can still make money here, bitcoin is not at the end of this cycle yet. You'll see what will happen when more companies invest.
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