bitcoin goes down, no new rich people anymore

[Spaffin]

Indeed, today the price of Bitcoin pleases its users very well.  But lately, certain predictions have begun to sound that the cryptocurrency market may collapse again and Bitcoin will drop to $ 4,000.  But what are the prerequisites for this I do not understand.  In my opinion, the cryptocurrency market was both in a bearish state, and continues to be Bearish.  And this Despite the fact that Bitcoin has increased its value almost 4 times since the beginning of 2019.

[FlightyPouch]

Bitcoin's price reduction does make a lot of people lose. But with the pump going on Bitcoin in a few months it has made a positive impact. You should be able to trade well. Bitcoin does price have to go back down because we can buy it again at a low price. And certainly the price of Bitcoin will also be back pumping and at that time we can sell it again.

Well, that is how crypto currencies work. The price dumps, the profit does too, the price pumps, the profit does too. It is not that hard to earn money but as an investor, you should be really patient since with the volatility of bitcoin, your investment is at risk. Even if bitcoin goes down, there are a lot of altcoins that can give you profit, don't stick with one.

[7788bitcoin]

Bitcoin is not magic place to help some people get rich but it depends on themselves. Usually, only for those people who have a high knowledgeable to cryptocurrency and the patient is so importan in this matter.

Most of the people who are attracted to the bitcoin market in the past few years consider this as a quick rich scheme because of the high volatility the market is offering and you cannot blame them, all the traders who had experience in stock trading are in this market to make a quick buck and they understand the basic market situation and they usually end up in a profit, the people who end up loosing money are the ones who does not have any trading experience and they tend to learn trading with this market which end up costing them.

[silversurfer1958]

without the rich, the value of BTC also increased due to the increasing demand of many. Especially for Filipinos, they are really supportive of buying Bitcoin and holding them.
they believe that the BTC can save them from the future economic recession.
That is the main reason why the price of BTC has increased in recent days.

[ShooterXD]

To earn a lot of money, you need a lot of money!

The market are good now, and we need to wait, cause the whales just use the graphics to surf, and many of them will sell to take your profit. We need a few more weeks to see the price exploding again!

[bitbunnny]

People just expect too much, they want to become rich over night and this is not the way how the things are working. Although to my opinion rich are only early adopters who kept their coins long enough.
No matter that Bitcoin still offers great opportunities for earning money and make nice profit but not necessary to become rich. But to make profit with Bitcoin you have to have patience and strategy, you have to know what are you doing and why, that's why Bitcoin is not for everyone.

[kr105]

The richest people are richer because they own more bitcoins like the whales accumulate more. As for people going bankrupt, I'm not surprised but it's a reminder for everyone to repeat Bitcoin is not an investment. I guess some need to learn it the hard way.
Now you say the price goes down, yes if we compare to 2018-2019, but it went from $4k to 5,5k the last 6 months so I would say the price is going up instead

You are right. But at this point, seems like many people accept BTC as an investment instrument. I don’t blame them because apparenly no one is willing to purchase some goods by using their Btc. Everyone is waiting for higher price to get profit. In future i’m pretty sure we’ll start using BTC as a payment method eventually. But for now we have to face the fact that almost everyone prefers to hold their btc as an investment..

[fiulpro]

Well honestly there are two kinds of millionaires

1. One's who gained so much cash luck by chance
2. One's who went slow and steady .

Well no matter what , if the price is up or down you should know that trading and mining would always be beneficial , no matter what the price you can always gain profit .

So that's not something that would happen
Even right now we all are here earning money , even when it's low.

[boyptc]

Well honestly there are two kinds of millionaires

1. One's who gained so much cash luck by chance
2. One's who went slow and steady .

3. One's who were born rich.

The thread was not recently made and in my opinion OP is very pessimistic because it is so quick to make a decision, if we look at this thread date it is clearly an FUD, because prices have increased from the previous month and then continue to increase until now.

It's intentional with those laughs at the end of his sentence that means that he's longing to see bitcoin drop. But well, did bitcoin dropped much? instead it has been pumped quickly for several months since the beginning of this year.

[Zaanda]

altcoins are feeding bitcoin at the moment, the complacency stage is underway.  Bitcoin will seem boyant while people cash out of altcoins into bitcoin then they will start to cash out of bitcoin for fiat and the crash will happen. 

No idea where the bottom will be but i don't think it looks too good, even if so many people are still positive.  This tends to happen when everyone is positive,  they already brought and are holding but no new buyers, the ultra bulls won't sell untill it's too late and the ultra bears won't buy no matter what from here.

I think it's going to be a big crash soon.

[reality18]

The idea that Bitcoin price goes down and that there are no new rich people anymore is a misconception. In crypto, there are seasons and every season has what to be done in order to capitalize and make the maximum benefit if it. When Bitcoin price is down, it is a clear indication that new set of rich people are going to be created. Who are these new set of rich people? These rich people are the ones who are able to buy the dips and wait patiently for the price to rise again. Bitcoin price always rise.

[Quanatix]

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

Frankly, rich people are fairly cautious. Fooled me once, shame on you. Fooled me twice...

It is safe the assume that a hefty percentage of the world's rich internet users have heard of Bitcoin and have dabbled in it, one way or the other. Some may view it as a speculative asset. But with the price swings and 2017 ICO bust, many may have felt the sting of large losses.

Rich friends tell rich friends tell rich friends and boom... Bear market.

[Bisbee]

Perhaps this suggests that chaos and unexpected bubble inflation in the Bitcoin market are a thing of the past and crypto industry is becoming more stable and people who use cryptocurrencies have gained more knowledge about the work of cryptocurrencies. Government financial regulators became interested in cryptocurrencies and there were fewer fraudulent ICOs and pseudo investment sites. Although I still often hear that someone managed to raise investors' money and run away, this means that as before, someone becomes a millionaire 

[atjiat]

I’m only sure that if the fate of Bitcoin was so bad, today we would see a massive drop in prices not only for Bitcoin, but also for other cryptocurrencies, since it is the price of Bitcoin that affects the entire cryptocurrency market.  But I am sure that this will not happen, and not only because interested groups and individuals will not let Bitcoin fall, but also because Bitcoin has a huge potential that has not yet been realized.  Even despite problems with scalability and rather high transaction costs, Bitcoin can still be used as a means of payment or for transferring large amounts of funds for a large business.

[Jocuserious]

Many time almost price going good up' really i shocking that when i see your topic, i can't understand you want jokes with our mind? Because if you was check everyday bitcoin price then why you create this topic? Maybe you have eyes problem so i am sure you need a eyes doctor

[Bitcoin Seller]

It does not seem like it, even though prices are falling, but for those who can take advantage of opportunities, they are actually enjoying the benefits and divert to other investments. on the other hand there are also those who are waiting to buy at lower prices. so even though prices are falling I don't think everyone suffers, so learning about trading is very important

We will earn on Bitcoin. Actually, in 10-15 years, BTC will become the basis of a new financial system. Those guys who are still hesitating about joining the Bitcoin community are perhaps missing the chance for a better life. However, we all understand that this cryptocurrency is very volatile. Therefore, you need to be very patient when dealing with it and bear its great falls when they happen.

[Wonder_woman]

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

Yes bitcoin is going down so big whalers are quiting because they have no profit at all they don't want to stock their money waiting for the pump. So l think thats one of the reason why market is not growing up. Its just our hope remains for waiting for the price pump.

[Layers318]

Although Bitcoin has the highest market dominance of about 70% yet it is not the only coin on the market making investors rich. If one really understand how cryptocurrency works and how some altcoins function especially when it comes to their service provision, then one will appreciate some altcoins with great potentials. There are always some altcoins bulling irrespective of the Bitcoin price status. At the moment, coins like DIVI, Bitrue, KNC etc are gainers on the market.

[Kemarit]

If you really know how to move and play along in this market, in whatever market situations we are in (bullish/bearish), no doubt that you can still make yourself rich, assuming you have a big capital to spend in the market to begin with. But it seems that people here doesn't have the patience, or no longer interested when the market is in a bearish trend. But remember that this market never rest, so as traders or speculators you should also take advantage of every situation to make a profit, it doesn't matter if it's just a small percentage, it's the total accumulation that counts.

[lienfaye]

If you really know how to move and play along in this market, in whatever market situations we are in (bullish/bearish), no doubt that you can still make yourself rich, assuming you have a big capital to spend in the market to begin with. But it seems that people here doesn't have the patience, or no longer interested when the market is in a bearish trend. But remember that this market never rest, so as traders or speculators you should also take advantage of every situation to make a profit, it doesn't matter if it's just a small percentage, it's the total accumulation that counts.

Indeed there's a way to take advantage the market regardless if it is bearish or bullish, its just depend on our strategy.

For this year btc managed to recover from 3000$ to 10000$ currently so if you buy btc early of this year (like what I did) you probably earn by this time. But the situation is different when it comes to altcoins because alts are struggling and only those who can bear the situation has a chance to gain if ever alts recover.

If you know how to deal with your investment then you can think of way to not stay negative and become patient to wait for the right chance to take profit.