Panic sellers are once again hating themselves

[The Sceptical Chymist]

Yeah, I'm guilty of selling--but it wasn't to cut my losses.   There were things I needed to buy that I couldn't with bitcoin, which is unfortunate.   I'm really looking forward to a time when I can but cat food and asswipe with crypto.  Currently I know of no good way to do this aside from buying gift cards, and if that's the only option then just converting to fiat is much easier.   I do wish I could have held onto what I had but I'm not crying about it.

[nydiacaskey01]

Too many reasons why BTC dropped to 4 digits and those panic sellers, noobs and whales are part to blame for this. They are reading too much negative news and take them as a fact to decide if they will sell or not. I too takes a look at the price of BTC and Altcoins from time to time but when times like this when fake news are everywhere and fud are being feed to scare the noobs, I just look the other way and wait. Nice to see BTC at 5 digits again.

[leopard2]

Those panic sellers are waiting for 20000 dollar to buy again. They will sell again after a correction. This Scenario repeats several times and they lose their money and patient people make money.

LOL exactly, and then they run to the government and whine about how bad bitcoin is ...  

Same people also complain about casinos taking their money, fast food making them fat and so on 

[playstoprepeat]

I hope it's not a dedcatbounce.

[BitHodler]

I hope it's not a dedcatbounce.

People considering the current up movement to be a DCB or a BT, are often panic sellers themselves hoping that they can re-enter at levels near they have sold at, to grant themselves a lower entry position again.

It more and more starts to look like a solid recovery. I don't consider the $10,000 mark to be something we'll be able to maintain for too long, but this at least shows the intention of the overall market, which is up.

I would have liked to accumulate a bit longer at sub $10,000 levels, but that's what you get in a market only looking to rush up. Overall, I am quite satisfied with everything that I did manage to buy below $10,000.

[nightfury]

Who could not hate themselves if they realized they're weak enough to panic sell their crypto assets amidst crisis and see how bitcoin grows again today. Hopefully they will learn from the mistake they've made and learn to hodl next time.

[lifengpu]

Do not strongly blame yourself for the fact that you sold bitcoin during its fall, everyone can make a mistake

[Wind_FURY]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

Do not be too sure that this new climb is some kind of market "reversal". From my experience, any falling market does not reverse and recover quickly in one pump. But this small pump does give some opportunity to some people who want to sell for a better price.

[timerland]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

A lot of people have done this... And I really don't get it why they do it at all. If you were investing in bitcoin then surely you know what bitcoin's all about and you are a believer in the technology right? Bitcoin hasn't fundamentally changed a bit throughout all this fluctuation, so why are you selling?

Every single time that this situation pops up, it seems like panic sellers come out of hiding and try to cut their losses. And it almost never works.

There are going to be eventually a 6 figure bitcoin, 7 figure bitcoin. It doesn't really matter since fiat is going to be worthless in the end and bitcoin may even become the definition of value, since it is decentralized. No good trying too much on short term trading, especially if you try to chase the most popular investments and sell when it's not popular.

[haroldtee]

Not themselves. Some of them hate “the market”. A friend of mine is like that: he used to buy when there was a bubble out of MOFO and to sell when the first dip came, out of panic. Now he doesn’t buy any more, he just wastes all his money, as he thinks “the market” is corrupt.

I am not sorry to say this, even though he is your friend cause I will gladly say it to his face. The fact is, this is how some people think and one of the mentalities they have about everything which makes them remain stagnant in life.

If he is smart enough (point of contact to the same people in his shoes), he should be asking himself one simple question, which is what has he not been doing right and then make amends. Like they always say, only a fool will do the same thing over and over again and expect different results. If he feels the market is corrupt, then that is absolutely his own loss. We cannot always have smart people all the time, some are just not meant to be, and some of us will always keep getting richer as long as they keep remaining stupid.

[mia khalifa]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

I often laugh to see the silly behavior of panicked sellers, it is clear they get the loss of panic they are experiencing by selling bitcoin at a cheaper price than buying it is very harmful. I wonder how anyone could be like that.

[pereira4]

Not themselves. Some of them hate “the market”. A friend of mine is like that: he used to buy when there was a bubble out of MOFO and to sell when the first dip came, out of panic. Now he doesn’t buy any more, he just wastes all his money, as he thinks “the market” is corrupt.

I think you meant FOMO, not MOFO 

Anyway, these guys are the biggest losers. They see bitcoin on the news, they buy the top and it starts crashing, they (once again) look at the news and see how "bitcoin is crashing", and further crashing ensues causes precisely by these watching the news and paying attention to fakestream media.

Notice how during this cycle, none of them even bother to research what bitcoin is and why is it valuable (and why you should only look for the long term and ignore market noise)

[tdrinker]

the more educated potential investors become the more difficult it will be for the rest of us to profit.

The problem is that I'm sure most of these people know perfectly well how these cycles work, but they're 100% incapable of preventing their emotions from clouding their judgement.

You see it day in, day out. Even some of the oldest hands start calling for doom at a downturn lasting a few minutes. When it bounces back then Bitcoin is totally awesome and they knew along it was.

Entirely agree, but with time they should learn. The more we tell them that it's just what happens and they must control their emotions etc they should in time learn.

They're a long way off just now and some are entirely helpless but you have to think with each crash that goes by and is recovered from, more and more people will learn and the next time around it won't be so profitable for the guys who know what they're doing.

[dothebeats]

Pretty sure these people who sold at a loss already have a working knowledge on how gloomy everything is when it comes to January but are too scared that everything will be gone so they've sold pre-emptively. Couldn't blame them though, especially if they don't believe bitcoin would be able to recover in the coming weeks. The price cycles of bitcoin are engraved in charts, so I wonder why people think that it's the end when a sudden drop happens when in fact more and more people are getting interested in throwing their money in the playing field.

[gigusico]

And who would not give in to panic considering that the price fell very much and did not rush to recover, but most were waiting for such a turn and now see the result of their actions

[Zach707]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

Yes, there were a lot of them crying now. The good thing is i am not one of them. Although a newbie, i trust my instinct that it would be good to but at dip and so i did. I have learned a lesson during that dip and one of them is not to panic.

[DispatchLabs]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

I spend more than one year with bitcoin and I was well aware with this situation and never sold. I remember the time when one of my friend asked me that the price is going to go below $6000 and we have to sell but I told him that no matter how much the price go down it will reach back to its highest value and will go more and now he is happy.

Your friend is lucky to know you.  Good advice!

[juragane]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

hahaha yeah you are right many new players who become part of panic sellers, really pity me with those who wasting their assets and money, if they want to learn and more patience surely will not happen such thing.

[magneto]

Yeah, I'm guilty of selling--but it wasn't to cut my losses.   There were things I needed to buy that I couldn't with bitcoin, which is unfortunate.   I'm really looking forward to a time when I can but cat food and asswipe with crypto.  Currently I know of no good way to do this aside from buying gift cards, and if that's the only option then just converting to fiat is much easier.   I do wish I could have held onto what I had but I'm not crying about it.

Well, obviously if you are just looking to cash out BTC because you need to buy something, then cash it out. There is no point holding onto bitcoin forever if you're not going to spend it at some stage. It's like saying that I'll buy groceries later because I feel like that we'll get more by holding onto my BTC, these kind of expenses just can't be avoided.

It's different for if you're a investor in bitcoin though. One of the conditions to start even investing in BTC is that you're putting away money that you have saved up, and you don't need urgently.

If you're panic selling because of the fact that price is going down, and you're cutting losses, then that's not a good decision to make.

But some people are forced to cut losses, because they used margin trading or borrowed money to trade. Another reason why you shouldn't do that.

[mriansa]

$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.

Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.

not their own some of them blame the market and hate the market even hate bitcoin for new players they will definitely call it that way and hate it because they have no experience and yet understand what kind of market conditions but for new players it is certain it will happen and they prepare moment to buy as much bitcoin as they can.