bitcoin goes down, no new rich people anymore

[Woodie]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

AFAIK this theory only applies to holdlers who are waiting for the price to grow their money while it's seated in the bank!

On the contrary Traders out there can make money and become rich from either bitcoins upward or downward price movement.

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[Falgorn]

Strange, your topic was written on May 1, meanwhile, the whole of April, bitcoin grew quite well in price, having risen by about one and a half thousand dollars. Moreover, now there is a lot of information that large investors are going to invest in cryptocurrency. We also see that the capitalization of Bitcoin and other cryptocurrency is increasing. So your conclusion is not entirely true.

[dominos]

IF you already rich whats the point of taking on all the additional risk that crypto provides.  If I was a billionaire I would keep my money in solid investments like property and companies.  Going for really high risk investments is more for poor people since they don't have much to lose.

Yeah, but probably OP didn't understand how money from/of rich people works that's why he is making a non-sense statement and starting discussion out of nowhere.

[noormcs5]

IF you already rich whats the point of taking on all the additional risk that crypto provides.  If I was a billionaire I would keep my money in solid investments like property and companies.  Going for really high risk investments is more for poor people since they don't have much to lose.

Crypto does not provide any risk while property and companies does. We are near the next economic crisis and all these things like Dollar, property etc will be devalued. Only those who have cryto and bitcoin with them will be saved because all the money will be flow towards crypto. I will recommenced rich people to keep some portion of thier assets in bitcoins for the future.

[Harith65]

no no no.. bitcoin is rising again it is readying to take it's bull run again. price of the bitcoin was higher in November of 2017. when we consider the price changing graph of bitcoin before that November we can clearly identify that it is totally matching with present  graph. as well as in predictions of crypto experts also mentions that bull run will come in near future. because of these reason people are weighting for new moon as past.

[sirohige]

I think they are bankrupt because they are very easy to panic and they have weak hands which means that they cannot hold their assets and maybe he is trading with money that is not managed properly so there are traders who go bankrupt like that.

[ogini]

I think more adoption and new investors if bitcoin raise in value,and I can not see the market dropping it only growing in a steady state maybe you should check the market to confirm  Bitcoin growth of recent.

[AntoCokbun]

Why do you look so happy now? It's true that the current market conditions have created a lot of losses for investors, especially those who started at the peak price of bitcoin, but even so, I am sure that they still believe that bitcoin still has a good future.

[DarkEagleMan]

Undoubtedly, in these times when the price of bitcoin has remained well above $5000, when for most of its existence it remained well below $1000, it is difficult for those who are just entering the business of speculation in cryptocurrencies they get rich overnight, and that is why these days we are seeing the interest of institutional investors to enter the market.

This means that even if the flow of new capital in the market continues to rise, this will only be enough to generate good dividends but as an investment in the medium and long term.

[Lanatsa]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

Seems like yo are happy on these situation where there are people goes bankrupt due to btc investment? I doubt that you are included to those people who do

experience or suffer losses?  Here on crypto it isn't really just built up to make people rich.We are here due to technology and making some profits is just a plus.
When we do talk about investment it do always corresponds with risk so its no surprise.

[GunsLair]

You have a strange reaction to what is happening. A cryptocommunity, on the contrary, must be cohesive and support newbies I think. You never know when you yourself can lost something or even everything. The market is unstable, don't say that.

[vhns222]

I dont understand why you write this seems you are very new in crypto as if were here when price of theBTC was 3500$ then i am you woudnt write this here who said there are no rich people ? if user has 1000 btc and price is 5500 then he is still rich so be a little positive i believe big bull run would come sooner or later.

[Pamadar]

I dont understand why you write this seems you are very new in crypto as if were here when price of theBTC was 3500$ then i am you woudnt write this here who said there are no rich people ? if user has 1000 btc and price is 5500 then he is still rich so be a little positive i believe big bull run would come sooner or later.

Yes,that amount still huge and when the bull start to comes back who knows how much more he'll be able to get from this industry, there's still rich investors who's willing to take the risk a d continue to support this market be more positive and chill give then some time to reassess and comes back once again and play with the market.

[qwertyup23]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

I am pretty sure that most well-off investors diversified their portfolio by investing into different mechanisms and not only on cryptocurrency alone. In fact, the fall on bitcoin's price is also an opportunity to most investors in acquiring bitcoin for either short/long-term goal.

I think they are bankrupt because they are very easy to panic and they have weak hands which means that they cannot hold their assets and maybe he is trading with money that is not managed properly so there are traders who go bankrupt like that.

What most investors fail to realize is the high volatility of cryptocurrencies, in general. The price may either skyrocket or plummet without any warning and it serves as a double-edged sword that is meant to be studied, researched, and observed by investors. There are factors needed to be considered in order to at least mitigate the damage when this typical scenario happens.

[Best Dreams]

The rich people knew how to over evaluate BTC in Dec 2017 by using loads of marketing tactics (FB campaigns especially) and to use USDT (they were buying BTC with USDT massively to create an artificial demand and increase FOMO) to pull in people that didn't know how BTC works.

These guys already made a huge profit in late 2017 - early 2018. No need to worry about them

Surely those who are investors, are gonna be rich as you said already people had huge profit than even without earning they can live good life till the price recover the fall of 2018, I know very soon it will be overcome the loss as experts have predicted the market to be high in 2019 and 2020, so let’s see what actually happen, I really wish to be rich in future.

[Oceat]

IF you already rich whats the point of taking on all the additional risk that crypto provides.  If I was a billionaire I would keep my money in solid investments like property and companies.  Going for really high risk investments is more for poor people since they don't have much to lose.

Millionaires and billionaires are already doing that investing thing and that's how they will get richer while the poor will become poorer because believe it or not, money is everything. People should think again if they thought that Bitcoin is an investment because afaik it is being used as payment for any kind of services.

[btc_angela]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

funny that you made this comment and after 2 days the price increased to  $5800. about your comment, all people when they decide to buy cryptos should be aware that the price may drop a lot. This should not be a surprise to anyone. just think:

If something goes up from $ 1000 to $ 20,000 in a year, then that same thing can drop from $20,000 to $1000 in a year.

I think getting rich from cryptocurrency was not achieved with a short time and then said that no one is rich just because prices fall. while many people take advantage of this moment to buy, so that they could get rich at other times, and we know the current price going up and maybe some people can get rich with it?

Unless you are a big whale who can pump the price in millions of dollars then you can be richer by doing that, but that is a big risk. But if you really wanted to be rich here, bitcoin is the only way, no need to invest on altcoins. Although they can gain huge percentage as compare to bitcoin, BTC is still the king and the only coin that can give you large amounts of profits in years.

[ufaiz50]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

Do you know that rich people from bitcoin are those who have more expertise and knowledge in cryptocurrency, not everyone here is rich because they buy at the price of pizza and sell at the price of the moon, they be rich people because their expertise and knowledge in crypto things "investment in crypto is only for smart people".

[bitcoin31]

We are not crazy, we know bitcoin now are going up the value so why did you said that!? Because of the growing value of bitcoin again many people now again become new rich people and those people become richer because they can get more profit because they purchased bitcoin last 2018. You are not become rich for sure because you give wrong informartion to the bitcoin.

[aimata27]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

I think the rich people are still here and they are all still investing on the top coins right now because of the price being low at the moment. They're only waiting for the right time to sell for huge profits.