Why are people freaking out?

[Vannie12]

Assuming that those who freaked out were those who invested during the heights of bitcoin. Many were interested investing during that time because they wanted to join the boat. But eventually many are spending today.
Because it's holiday season and those who invested were left on the boat. But it's not right to freak out. Hold, no bitcoin value will get lost as long as you hold you know. Wait for it to get higher.
As an advice, try to hold if you really don't need the money yet. If you don't have the choice, then don't pull out all of it.

[1714507457]

1714507457

[TERA2]

Theres a very simple reason people freak about drops during the bubble. During the bubble, the rise is occuring because of new participants, and the majority of participants are now new. These new participants have all gotten in at high prices and only have a view of the past week or so of trading. They were not here for the rise or for the history of bitcoin. Therefore when it drops, the drop is very new and real for them, and all they see is red, because their chart is zoomed into the week where they got in, and they are down.

[shesheboy]

Theres a very simple reason people freak about drops during the bubble. During the bubble, the rise is occuring because of new participants, and the majority of participants are now new. These new participants have all gotten in at high prices and only have a view of the past week or so of trading. They were not here for the rise or for the history of bitcoin. Therefore when it drops, the drop is very new and real for them, and all they see is red, because their chart is zoomed into the week where they got in, and they are down.

bubble? i dont think were on the bubble phase now. bitcoin is not on a bubble phase rather it is called a correction and as far as i know a bubble is something serious drop or an instant dip that bitcoin cannot recover anymore but so far i see that bitcoin is still recovering little by little and soon it'll then increase again to reach its new all time high. people were not freaking out , they are just selling thier coins because they need the money to prepare for this holiday season ( i.e christmas and new year) but as soon as they settle it and sortted the thing out, for sure bitcoin could recover again faster than usuall.

[TERA2]

its up 2000% from ATH without the crash and you dont think this is bubble phase?

[imdabest239]

Because they are never going to understand that the price is pretty high, and they are just selling because they are afraid of it. They are just afraid of lossing a few bucks, nothing more.
Why do you think that there are huge green walls on GDAX right now? Because they want to buy again.

[magneto]

Assuming that those who freaked out were those who invested during the heights of bitcoin. Many were interested investing during that time because they wanted to join the boat. But eventually many are spending today.
Because it's holiday season and those who invested were left on the boat. But it's not right to freak out. Hold, no bitcoin value will get lost as long as you hold you know. Wait for it to get higher.
As an advice, try to hold if you really don't need the money yet. If you don't have the choice, then don't pull out all of it.

Exactly. I think that people who invested in the past month or so thinks that bitcoin is something that will amke them a profit no matter what situation. They haven't seenany major crashes during that time, and now they're panic dumping thinking that it's all downhill from here. These new, inexperienced investors are the ones that are mostly panic dumping at this point.

Truth is, this seems just fine. Around a 30-40% loss of value is going to be a big hit on traders but that's definitely not the end of the bull run for sure.

Keep in mind that we were inches away from breaking $20k per bitcoin, and it is extremely likely that in a few weeks we'll see the trend reversal, and by that point the same people who dumped right now will be the first ones buying back in at a higher price.

[Ararbermas]

Normal correction, much needed after this fast growth.

C'mon guys, you must be new!

yeah thats right but maybe they freaking out because of some reason which is if they dont sell immediately they will lose much profit so some of the bitcoin holders panic selling now adays and also maybe that is the common reason why bitcoin fall hard nowadays.. So perhaps this scenario is not normal even it always happened cause it takes alot of profit when we dont sell.

[Wilhelm]

I have had at least 3 people telling me to get out now, this time is different, etc....

For me this is comforting because I know
 - the weak hands are running for the door
 - the big investors want you out

This is the first place I would actually consider using the term "FAKE NEWS"

And a salmon doesn't get offspring by swimming down stream 
If you got rich by doing what others said then we would all be billionaires.

[Sorliand]

because they always think price is going up every time.

new users always want to gain and green color.

[South Park]

Normal correction, much needed after this fast growth.

C'mon guys, you must be new!

That is just the way things are, my supposition is that those people are investing money they cannot afford to lose and that is why whenever there is a correction there is panic, I have some money invested in bitcoin but I do not care if the price goes down since I'm in profit anyway.

[Bitblaster23]

Normal correction, much needed after this fast growth.

C'mon guys, you must be new!

That is just the way things are, my supposition is that those people are investing money they cannot afford to lose and that is why whenever there is a correction there is panic, I have some money invested in bitcoin but I do not care if the price goes down since I'm in profit anyway.

Well since bitcoin in demand there are new hodlers are afraid to lose their investment. even the fee huge they are still sold their bitcoin just to be safe of their investment but the fact they didn't know actually the movement of the price just like what happen before that happen again this this year except for last year that actually the price was continues to increased just years ago where we are always seeing panic selling..

[South Park]

Theres a very simple reason people freak about drops during the bubble. During the bubble, the rise is occuring because of new participants, and the majority of participants are now new. These new participants have all gotten in at high prices and only have a view of the past week or so of trading. They were not here for the rise or for the history of bitcoin. Therefore when it drops, the drop is very new and real for them, and all they see is red, because their chart is zoomed into the week where they got in, and they are down.

People join during the bubble thinking the price will not stop going up and as we know that is simply impossible so the bubble burst and then they panic, so if you want to make money with altcoins you need to be prepared to invest when things do not look so good, if you do you can make a lot of money.

[Mrjitter]

Just people are afraid of the unknown, they do not understand whether bitcoin will grow or fall and this scares them

[richardsNY]

Just people are afraid of the unknown, they do not understand whether bitcoin will grow or fall and this scares them

In other words people are gambling with their savings. I have even read articles about how people take out mortgages and loans to invest in Bitcoin. Seriously, I have never seen people be that stupid where they expose themselves to such insane risks. Of course these people will sell their coins in panic when the price is going down, they never sleep well with the thought of potentially having to pay their entire life for the mistake they made. In a way these shake-offs clean up the market from these people, but they will just buy back in again at higher levels, so it will continue till they run out of funds, because this practice is nothing more than capital destruction.

[jjacob]

Theres a very simple reason people freak about drops during the bubble. During the bubble, the rise is occuring because of new participants, and the majority of participants are now new. These new participants have all gotten in at high prices and only have a view of the past week or so of trading. They were not here for the rise or for the history of bitcoin. Therefore when it drops, the drop is very new and real for them, and all they see is red, because their chart is zoomed into the week where they got in, and they are down.

People join during the bubble thinking the price will not stop going up and as we know that is simply impossible so the bubble burst and then they panic, so if you want to make money with altcoins you need to be prepared to invest when things do not look so good, if you do you can make a lot of money.

True. I think it is due to a lot of weak hands exiting the market, and not necessarily institutional investors going short. Bitcoin has attracted a lot of new users in the last few months, seduced by the prospect of multiplying your money in quick time. Some of them exiting the market now will be good for Bitcoin in the long run.

[South Park]

Assuming that those who freaked out were those who invested during the heights of bitcoin. Many were interested investing during that time because they wanted to join the boat. But eventually many are spending today.
Because it's holiday season and those who invested were left on the boat. But it's not right to freak out. Hold, no bitcoin value will get lost as long as you hold you know. Wait for it to get higher.
As an advice, try to hold if you really don't need the money yet. If you don't have the choice, then don't pull out all of it.

Exactly. I think that people who invested in the past month or so thinks that bitcoin is something that will amke them a profit no matter what situation. They haven't seenany major crashes during that time, and now they're panic dumping thinking that it's all downhill from here. These new, inexperienced investors are the ones that are mostly panic dumping at this point.

Truth is, this seems just fine. Around a 30-40% loss of value is going to be a big hit on traders but that's definitely not the end of the bull run for sure.

Keep in mind that we were inches away from breaking $20k per bitcoin, and it is extremely likely that in a few weeks we'll see the trend reversal, and by that point the same people who dumped right now will be the first ones buying back in at a higher price.

A lot of new money has come our way, new investors are putting their hopes on bitcoin, but as you said the problem is they have not experienced any crashes before so they lack experience, while I was not around when the price crashed on 2013, I have been in bitcoin since 2015 and I have seen the price go up and down many times so I know these kind of movements are normal for bitcoin so I do not panic anymore.

[CryptoCurr]

Normal correction, much needed after this fast growth.
C'mon guys, you must be new!

The market correction normally happens in the cryptocurrency world not even on bitcoin alone but all cryptocurrencies.