I do not understand the pessimism

[cat97]

Hello everyone,

I just registered but of course I am a long-time cryptocurrency watcher.

What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin".

If you look at the growth chart from the beginning of cryptocurrency, you will realize that even now, the Bitcoin is a bit over-valued. It is not "in the red" by any stretch. What was in the last few months was a bubble, an anomaly which may have been exploited only by the very few, just like in the real currency or valuable asset world.

You want a cryptocurrency to be stable, just like the real currencies. Only then will it be trusted and invested in by the big players. Any asset in which you make money like winning the lottery every day is bound to crash.

In my opinion the Bitcoin is just now approaching a "healthy" status. Making money from Bitcoin will be just as hard as making money from real currency trading.

For more money, just you just have to work...

My 2 satoshis...

[1714127364]

1714127364

[Pursuer]

What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin".

there are two types of people who are "spreading" the pessimism. (we have more types with pessimism but they keep it to themselves).
1. the newbies who thought they were about to become a millionaire because they invested something like $100 in bitcoin
2. those idiot traders who think if they attack bitcoin now the price can go lower so they can make a bigger profit in their short trades.

...that even now, the Bitcoin is a bit over-valued.

I disagree. bitcoin is undervalued by a lot. it at least needs to go up another $3000 to get where its real value is. this price is the product of a "push-down" not a correction anymore. yes there was a bubble, then there was a correction but that was months ago.

You want a cryptocurrency to be stable, just like the real currencies. Only then will it be trusted and invested in by the big players.

being stable or not has nothing to do with investors "trusting" it!!!
they trust bitcoin because of its transparency and security and also its being permissionless.
and we don't want any "big player" to come in. we want people to have the option to be able to use a decentralized currency not some "big player" millionaire to buy it and play around with its price!

Any asset in which you make money like winning the lottery every day is bound to crash.

that is irrelevant to bitcoin.

In my opinion the Bitcoin is just now approaching a "healthy" status. Making money from Bitcoin will be just as hard as making money from real currency trading.

if by that you mean price will be more stable and won't have wild swings then you are wrong. we are very far away from that day. we WILL continue to see big rises, bubbles, big bubbles, corrections, crashes and big crashing dumps.
.... the rollercoaster continues.

[Elachious12]

With the little experience I have in Cryptocurrency, I have come to realize that there the pessimist and optimist, the difference is that optimistic are those who are visioner, they are Holders, they don't panic sell, while the pessimist are the opposite.

[aces777]

The problem we are having right now is that a lot of newbies came into the market this year during the bull. They all wanted to get in on the action with no one wanting to miss out but the thing is they all got thing without a proper understanding of the crypto market. They are the people that are panicking right now because they are watching the values of their coins plummet thinking that the prices will never recover

[tristana443]

here everyone is hopeful Few hope for blockchain technology that expects BTC's price increase to break even or make a profit.

[katarina007]

We expect the return of btc by the end of 2017. Few people care about the value of the technology.

[cryptodalton]

The people who actually have pessimistic thoughts about crypto currency, they hardly know about crypto currency in detail. They just invested in it without having proper knowledge about it and panicking as the price is falling. But, this is the nature of crypto currency and people should invest in it having the concept of long term investment.

[Kakmakr]

I think most people from last year was used to a price that has gone up and now it is just the opposite. It must get to you, if you are one of those people who bought at the higher end of the price and now the price keep on dropping. We have seen this before and we have also seen the shills and trolls capitalizing on the current drop in the price, to come crawling out of the shadows to feed the flames.  

I ignore these idiots and just sit back and enjoy the show.     <Oh, and I buy their cheap coins>

[Balayashi]

I cant understand either. Looking at the growth of btc we're still in a very nice position. Ppl complain about this bear market, but in january 2015 we were around 250 dolars, now (at the time of this post) we're at like 5980 dolars. Its a x20 growth. Many ppl went fomo when this got to 16k and lost and many others became negative and pessimit about it i think

[TheGodson]

I understand the pessimism, allow me to explain it to you. Bitcoin was at $19k+ and now it is at $6k-.

Merchant adoption for Bitcoin is actually decreasing and not increasing. Less and less people are using bitcoin for what it was intended to be used for. Most people don't even use their bitcoin as payment, they just hoard it.

[Naida_BR]

First of all, welcome to the community!

Pessimism comes from people that believe they will be rich in one night. I have noticed that these people are mostly the ones that got involved in the cryptoworld after seeing this great rise of bitcoin price at the end of 2017 (known as FOMOS). They didn't read anything about blockchain technologies and cryptos and simple opened accounts in Coinbase and bought cryptos. Now that they see the prices falling they are speading bad words because they simply do not believe in the decentralization idea. They are opportunists that they wanted to join the Bitcoin Wave and get some advantages of that.

[joebrook]

I understand the pessimism, allow me to explain it to you. Bitcoin was at $19k+ and now it is at $6k-.

Merchant adoption for Bitcoin is actually decreasing and not increasing. Less and less people are using bitcoin for what it was intended to be used for. Most people don't even use their bitcoin as payment, they just hoard it.

If Bitcoins went from $1000 from January 2017 and it is currently trading at $6000 at this moment i really don't see why people are going on about the hard times for the crypto currency though the value has gone down, I think it's still okay.

[meejay]

Hi there,

People are interested in gaining financial freedom. This is one of the most important things in a persons life and yes cryptocurrency would give this to them. With this in mind more people invested in cryptocurrency during June 2017 bullrun. Then we have experienced the institutional money entering crypto after that bull run. After the good accumulation zone we have seen the biggest bull run ever starting November 2017. Bitcoin was on the news all around the world to attract more people. People jumped in blindly through the top with hope and most of them are burned. And we have the FUD going on all around via media. This is an attempt to lower the prices more to buy cheap bitcoins. Everyday bitcoin is making new lows for 2018 although most people were expecting the bull run to commence. This might have effect how people feel or think unless they are early adopters.

As a conclusion, this is a period where prices go down on a continuous base which affects people but, we will see many bull runs in the future.

Keep it positive!
Kind regards,

[franky1]

I disagree. bitcoin is undervalued by a lot. it at least needs to go up another $3000 to get where its real value is. this price is the product of a "push-down" not a correction anymore. yes there was a bubble, then there was a correction but that was months ago.

octobr-march seen a SPECULATIVE bubble layer on the price, which has corrected down.

the october-march UNDERLAYING VALUE was 6-9k due to the mining costs of such upholding that.. but now there is a new batch of miners that are cheaper which has brought the average cost per btc down. although the hashrate has risen since march to mitigate some of that underlaying value dip the underlaying value is still lower than the 9k top.

so i agree with the OP we are near the healthy new underlaying value. and now just have to wait for the hashrate and difficulty movements to push the underlying costs up to then move the support lines up to move the price up.

[Alkhalifi69]

The problem we are having right now is that a lot of newbies came into the market this year during the bull. They all wanted to get in on the action with no one wanting to miss out but the thing is they all got thing without a proper understanding of the crypto market. They are the people that are panicking right now because they are watching the values of their coins plummet thinking that the prices will never recover

you are right, many newcomers who know bitcoin directly enter the crypto world and start trading without understanding first the same market conditions.
most people who are tempted to benefit very much without understanding the state of the market first. they even have a reckless lend the same capital of the bank and buy coin at the time the coin is up, they hope the coin can go up aims to get a very big profit, then at maturity payment and the money is not there because it has become the goods in the form of altcoin, then would not want him to sell the coin at the time of the coin price down. they are very big loss and they certainly think negative about crypto.
but this is their own fault with the market situation is not as stable as this and they panic sell fear if market conditions can not recover again.

[FourByfour]

well you can expect that people who lost huge amount of money to be pessimistic, its a huge amount of money after all.

[MortonAlden]

Hello everyone,

I just registered but of course I am a long-time cryptocurrency watcher.

What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin".

If you look at the growth chart from the beginning of cryptocurrency, you will realize that even now, the Bitcoin is a bit over-valued. It is not "in the red" by any stretch. What was in the last few months was a bubble, an anomaly which may have been exploited only by the very few, just like in the real currency or valuable asset world.

You want a cryptocurrency to be stable, just like the real currencies. Only then will it be trusted and invested in by the big players. Any asset in which you make money like winning the lottery every day is bound to crash.

In my opinion the Bitcoin is just now approaching a "healthy" status. Making money from Bitcoin will be just as hard as making money from real currency trading.

For more money, just you just have to work...

My 2 satoshis...

Well I agree. Once you have entered this Crypto market, there is no need to be scared of everything. One should just have faith in their coin and go ahead with the strategy of buying or selling. In the first place only, choose coins that are meant to grow, like PRG, ICX etc.

[JeffreyBasil]

Hello everyone,

I just registered but of course I am a long-time cryptocurrency watcher.

What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin".

If you look at the growth chart from the beginning of cryptocurrency, you will realize that even now, the Bitcoin is a bit over-valued. It is not "in the red" by any stretch. What was in the last few months was a bubble, an anomaly which may have been exploited only by the very few, just like in the real currency or valuable asset world.

You want a cryptocurrency to be stable, just like the real currencies. Only then will it be trusted and invested in by the big players. Any asset in which you make money like winning the lottery every day is bound to crash.

In my opinion the Bitcoin is just now approaching a "healthy" status. Making money from Bitcoin will be just as hard as making money from real currency trading.

For more money, just you just have to work...

My 2 satoshis...

Yes, people should not be pessimistic. It is an unpredictable world and all investors should be very careful with their choice of coins. They should for example right now, go for TAU, ADA, QSP which shall rise for sure because of their excellent performance.

[onrise]

well you can expect that people who lost huge amount of money to be pessimistic, its a huge amount of money after all.

It is the case and also investors might be now little pessimistic as everyone patience level cannot be same. Its also 6 months time where the expected result is not achieved and market has just fallen mostly. So chance of earning has become more slimmer for people.

[cryptohopes]

pessimist are the short traders. Cause they want to make money in short period. When the market falls they got panicked and spread rumors. The others who know the market well. They believe in HODL and don't spread rumors.