A quick reminder from Eric Adams, mayor of the City of New York.

[Rufsilf]

As of this writing, the bitcoin's value is currently trading at a price of $42.9k , declining 11% since December 2021.
With this current market situation, it's already anticipated that many would panic and sell their assets out of fear in line to the market's sudden steep declination and with these much selling of assets, we can't deny that it would have an impact bitcoin's value.

Mayor Eric Adams of New York City was right, instead of going panic and sell what you're hodling, then might as well see this current situation as an advantage to buy bitcoin at a much more cheaper price and think of it as an extended year-end sale. After that, wait until the market recover in-order to reap the profits because it will surely recover and it's been already proven historically.

[franky1]

As of this writing, the bitcoin's value is currently trading at a price of $42.9k , declining 11% since December 2021.

its not a 'decline' in the sense of the higher price being a settled constant value.

its in a sense of u.s fuel prices reach excessive $1.50 a litre price in X month and return to lower prices, when the markets calm down

the $45k-$70k is what is known as speculative bubble hype, temporary inflated price

the underlying value which people resist selling below is the underlying value.
this underlying value is not $0 nor $20k, its above that. in the $30k-$40k range

between the $40k-$70k is the volatile area of emotional speculation and panic and hope

slowly over time this $30k-$40k underlying value will rise. and bring comfort and resistance to not go down again.. but that time is not now. underlying value is not $50k range.

[stadus]

As of this writing, the bitcoin's value is currently trading at a price of $42.9k , declining 11% since December 2021.
With this current market situation, it's already anticipated that many would panic and sell their assets out of fear in line to the market's sudden steep declination and with these much selling of assets, we can't deny that it would have an impact bitcoin's value.

Mayor Eric Adams of New York City was right, instead of going panic and sell what you're hodling, then might as well see this current situation as an advantage to buy bitcoin at a much more cheaper price and think of it as an extended year-end sale. After that, wait until the market recover in-order to reap the profits because it will surely recover and it's been already proven historically.

Exactly. That's how we should look the market positively and not that we should panic seeing all our investments are falling.  Bitcoin is clearly in a bargain right now with its current price at $42,317 so if we can accumulate as much as we can, then we will be in a huge profits by the time reaches its new all time high. And for good altcoins, i can see that they are also struggling in their current prices and they will only start to recover after bitcoin has return to its normal value. So now is the perfect time to buy bitcoin and altcoins and definitely hodl them for long term.

[Wawa2013]

As of this writing, the bitcoin's value is currently trading at a price of $42.9k , declining 11% since December 2021.
With this current market situation, it's already anticipated that many would panic and sell their assets out of fear in line to the market's sudden steep declination and with these much selling of assets, we can't deny that it would have an impact bitcoin's value.

Mayor Eric Adams of New York City was right, instead of going panic and sell what you're hodling, then might as well see this current situation as an advantage to buy bitcoin at a much more cheaper price and think of it as an extended year-end sale. After that, wait until the market recover in-order to reap the profits because it will surely recover and it's been already proven historically.

Exactly. That's how we should look the market positively and not that we should panic seeing all our investments are falling.  Bitcoin is clearly in a bargain right now with its current price at $42,317 so if we can accumulate as much as we can, then we will be in a huge profits by the time reaches its new all time high. And for good altcoins, i can see that they are also struggling in their current prices and they will only start to recover after bitcoin has return to its normal value. So now is the perfect time to buy bitcoin and altcoins and definitely hodl them for long term.

We must have faith that the future of Bitcoin is bright, that way we will more easily face the bearish trend that is happening now. Then all of us,
the initial goal of investing in Bitcoin is to be able to make a profit, so don't panic and have to be patient holding the Bitcoins we have in
the current market situation. It's not easy to make a profit from Bitcoin, sometimes it takes a long time to wait for the price of Bitcoin to rise
and can provide the profit we want. But if we study history, Bitcoin never disappoints and can always provide profits for investors who have
the patience to hold in the long term.

Regarding altcoins, it really depends on the movement of Bitcoin, because if we pay attention to altcoins,  altcoins always move to follow
the movement of Bitcoin. So as long as we are holding potential altcoins we don't need to panic to see the price go down,  because altcoins
will also go up once the Bitcoin price goes up. That's why right now, I'm still optimistic about the future of my crypto investment, because
I understand how the crypto world works. Indeed, the market decline that is happening now is only temporary, and for those who can be patient,
that's finally we can get the advantage.

[franky1]

never panic when the price moves below a previous price.
its a discount opportunity. that is all

if i bought an iphone for $800 and the following month i see it for $600. i dont think i have lost $200. instead i think its $200 discount if i ever want to buy another for friend or family before the price goes back up

[Oceat]

I have this feeling that this mayor is quite afraid too to see his first paycheck in bitcoin so that is why his answer is not clear enough. Instead, he started to cite the positive side having this dips. But honestly, if we can trace all the price falls for bitcoin, there are no chances that its price did not recover. Its price has even made it more valuable after the market has recover. So there's no need to fear this time, as we are only given good opportunity to buy those potential coins in the market while they are still at sale.

The Mayor just wanted to say to the people to never sell just because they see a decline but instead buy more or hodl as things would always be back in line in no time. We just have to persevere this bloody drop and wait till it pump because the Mayor is probably bullish.

Most people are who doesn't have enough knowledge about Bitcoin would choose to sell if they see a sudden drop thinking it's the time to sell because it might be bearish soon but they didn't know how the market works that's why their fear is increasing. And we called them as newbies in the market since they suddenly reacts to almost all what's happening in the market like FOMO or FUD.

[24Kt]

I have this feeling that this mayor is quite afraid too to see his first paycheck in bitcoin so that is why his answer is not clear enough. Instead, he started to cite the positive side having this dips. But honestly, if we can trace all the price falls for bitcoin, there are no chances that its price did not recover. Its price has even made it more valuable after the market has recover. So there's no need to fear this time, as we are only given good opportunity to buy those potential coins in the market while they are still at sale.

The Mayor just wanted to say to the people to never sell just because they see a decline but instead buy more or hodl as things would always be back in line in no time. We just have to persevere this bloody drop and wait till it pump because the Mayor is probably bullish.

Most people are who doesn't have enough knowledge about Bitcoin would choose to sell if they see a sudden drop thinking it's the time to sell because it might be bearish soon but they didn't know how the market works that's why their fear is increasing. And we called them as newbies in the market since they suddenly reacts to almost all what's happening in the market like FOMO or FUD.

If you are a strong believer of bitcoin, you won't really be in panic mode. Because you won't sell your stash, but instead hold it while you are waiting for the right opportunity. This is not yet the end of btc life, so very likely that it will still go up in the coming months or years. Worry if you feel that btc is about to disappear. But such situation is very far from happening. Those selling at a loss may have urgent needs so they can't wait anymore or some are in panic mode, which is the common reaction of a lot of crypto users.

[worle1bm]

Actually dips are some sort of opportunity for the investors who are into long term bitcoin holding and they don't care at all if it remains down for long because seeking it in long term perspective then you have profits on your investment.These are the times when market whales try to manipulate the market and panic sellers make their work easy by dumping at low prices.You can accumulate more at low which will benefit you in the end.

[Oceat]

If you are a strong believer of bitcoin, you won't really be in panic mode. Because you won't sell your stash, but instead hold it while you are waiting for the right opportunity. This is not yet the end of btc life, so very likely that it will still go up in the coming months or years. Worry if you feel that btc is about to disappear. But such situation is very far from happening. Those selling at a loss may have urgent needs so they can't wait anymore or some are in panic mode, which is the common reaction of a lot of crypto users.

I don't know if there are newbies who are a strong believer as I do, maybe they weren't just exposed too much in the market that's why they can easily think of selling instead of holding. I understand if they needed the money but investors should be separated from the money that they want to make some profit. It's not just right to just took some to your investment if you plan to invest it then it should be that way.

Well, anyway if it's really an emergency then that's okay they reinvest again in the future.

[kawetsriyanto]

I think all of us who invest in Bitcoin for the long term are clear about that. If the price goes down, we have a better opportunity to buy, what happens is that we like it to go up to see that the value of what we already have invested goes up.

No mate, don't generalize it. In reality, not every person buys Bitcoin to hold for the long term. I myself bought Bitcoin for both the long term and the short term. For short-term targets, I am quite careful to determine the time for buying since I don't want to be trapped on the fake bullish. Although many experts still believe Bitcoin has a chance to create another ATH, there is no guarantee the scenario will be as expected. Also, not every dump or decrease is the right time to buy. The price can even drop more and harder to increase again, especially once it is confirmed at the beginning of the bearish season.

[franky1]

I think all of us who invest in Bitcoin for the long term are clear about that. If the price goes down, we have a better opportunity to buy, what happens is that we like it to go up to see that the value of what we already have invested goes up.

No mate, don't generalize it. In reality, not every person buys Bitcoin to hold for the long term. I myself bought Bitcoin for both the long term and the short term. For short-term targets, I am quite careful to determine the time for buying since I don't want to be trapped on the fake bullish. Although many experts still believe Bitcoin has a chance to create another ATH, there is no guarantee the scenario will be as expected. Also, not every dump or decrease is the right time to buy. The price can even drop more and harder to increase again, especially once it is confirmed at the beginning of the bearish season.

if you calculate the mining cost of the cheapest region on the planet. and the most expensive region on the planet. you can gain an insight to a 'value window'

after all if cheapest cost was $31k no one would want to sell. and people would prefer to not mine but buy it if the price ever dipped. thus causing a price support to keep it above minimum

after all if expensive cost was $70k no one would want to buy. and people would prefer to mine and sell it if the price ever spiked. thus causing a price resistance to keep it below maximum

with each time someone sells(refusing to sell at a loss) the new owner has a new higher acquisition cost than previous owner. helping support price rises too. and resisting price drops

as mining costs move forward and people trade coins to new owners. bottoms increase and new tops increase

right now at ~160exa(year average) the window is $31k to $66k
right now at ~175exa(X month average) the window is $35k to $73k (which allowed for the $69k november ATH)

in short the 'bottom' is no longer $0 as long as costs to acquire bitcoin isnt zero, and there are alot of things making the cost to acquire bitcoin non-zero

[Botnake]

I think all of us who invest in Bitcoin for the long term are clear about that. If the price goes down, we have a better opportunity to buy, what happens is that we like it to go up to see that the value of what we already have invested goes up.

No mate, don't generalize it. In reality, not every person buys Bitcoin to hold for the long term. I myself bought Bitcoin for both the long term and the short term. For short-term targets, I am quite careful to determine the time for buying since I don't want to be trapped on the fake bullish. Although many experts still believe Bitcoin has a chance to create another ATH, there is no guarantee the scenario will be as expected. Also, not every dump or decrease is the right time to buy. The price can even drop more and harder to increase again, especially once it is confirmed at the beginning of the bearish season.

The problem is, none of us can determine if it will be the deepest value for bitcoin and that is why people some people prefer to buy in every dip. But if you think the value will fall even more, the you should wait for it and might miss the present opportunity.

However, this present correction is definitely a good opportunity to buy more and fill in our portfolio, and not that we should develop fear and panic selling whenever bitcoin and altcoins are bleeding.