bitcoin goes down, no new rich people anymore

[Darooghe]

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

People want to earn money the easiest way, for which bitcoin has provided a platform. But not realizing that its a gamble and you may end up losing your life time savings. This actually happened to all those who bought it for $19,000 or so and now are waiting for the price to return to that level so that they can sell it and encash their investment which seems highly unlikely in the near future.

However I think, the Bitcoin hype isn't over yet. If we believe that BTC will be the currency of the future and it will replace the other fiat currencies, I will make a small calculation. If BTC is equal to the value of gold which is approximately $7 trillion dollars, the price of each BTC should be $7 trillion/$21 million approx. $350,000 per BTC. This should be the price, if the value of BTC is equal to the value of gold. Now, imagine if BTC is equal to the value of all fiat currencies all over the world.

[salty]

Not also all wealthy people happen as a result of Bitcoin rising. Many hunters are rich because they promote nice coins well and right.
And they paid off the short-term investment money and played it properly. If it relies solely on Bitcoin, yes it is just waiting for the right moment to get rich.

I think it is too early to draw conclusions about the fact that the rich have become impoverished.The time of bitcoin will come.And those who were more patient-still will become rich.

[Gotumoot]

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

And bitcoin is on the rise today and you, who don't believe bitcoin is still poor today! Hahahaha..
This is the reality that many people today are pulling their partner down because they see it as lifting now. Why don't you support bitcoin so that we can make money together now?

[FaMouS8828]

I think it is a temporary price for bitcoin. Very soon will be bitcoin halving and it will definitely increase the price for cryptocurrencies.  Also, you can invest in perspective ICO or IEO, but it is a very risky investment. The good way to become rich it's the stock market, yes it's not fast money, but it's a really good way to create passive income and get more money.

[Sithara007]

I think it is a temporary price for bitcoin. Very soon will be bitcoin halving and it will definitely increase the price for cryptocurrencies.  Also, you can invest in perspective ICO or IEO, but it is a very risky investment. The good way to become rich it's the stock market, yes it's not fast money, but it's a really good way to create passive income and get more money.

It needs to be seen whether the bounce form the block reward halving will occur before the halving date, or after that. In the previous occasions (2012 and 2016), the spike happened after the halving. On the first occasion (2012), there was no spike before the halving and the bull run occurred almost one year after the block reward halving.

The second case was different (in 2016). There was a considerable spike during 2015-16, when the exchange rates rose from $200 per coin to around $900 per coin. However, the major bull run occurred one year after the block reward halving, when the exchange rates rallied from $900 per coin to $20,000 per coin (which remains the ATH for Bitcoin till now).

[cotton ball]

I think it is a temporary price for bitcoin. Very soon will be bitcoin halving and it will definitely increase the price for cryptocurrencies.  Also, you can invest in perspective ICO or IEO, but it is a very risky investment. The good way to become rich it's the stock market, yes it's not fast money, but it's a really good way to create passive income and get more money.

It needs to be seen whether the bounce form the block reward halving will occur before the halving date, or after that. In the previous occasions (2012 and 2016), the spike happened after the halving. On the first occasion (2012), there was no spike before the halving and the bull run occurred almost one year after the block reward halving.

The second case was different (in 2016). There was a considerable spike during 2015-16, when the exchange rates rose from $200 per coin to around $900 per coin. However, the major bull run occurred one year after the block reward halving, when the exchange rates rallied from $900 per coin to $20,000 per coin (which remains the ATH for Bitcoin till now).

When bitcoin down many investor buy and become richest person after buitcoin up, no way can stop rich person by investing in bitcoin and altcoin because they have trusted with bitcoin as best solution for investment assets increase their money, with bitcoin investing they can earn much profit with bitcoin investing, although have down but keep trust one day bitcoin can up.

[yulionoo]

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

And bitcoin is on the rise today and you, who don't believe bitcoin is still poor today! Hahahaha..
This is the reality that many people today are pulling their partner down because they see it as lifting now. Why don't you support bitcoin so that we can make money together now?

I think the author of this topic is someone who just wants instant wealth. maybe the way of thinking is not as extensive as other people, who still want to struggle to get results with any circumstances. he does not think that wealth can be obtained in various ways, not only hopes that the price of bitcoin must always increase. many people succeed because they want to try to find a good project and they participate to promote the project. and many people who are rich by doing daily trading, they take advantage of cryptocurrency volatility to make a profit.

[Sithara007]

When bitcoin goes down still have altcoin can make new rich people, why think bitcoin only can make new rich people? many investor running which one worth investing, after bitcoin price goes down they will back to altcoin, Binance exchange market have many altcoin for investing and no way to stop new rich person with bitcoin and altcoin investment.

LOL... have you checked the altcoin prices recently? During the past few months, every altcoin has lost anywhere from 30% to 70% of its value. And this was something that happened independent of Bitcoin. No considerable movement was observed with Bitcoin during the same time. Now the prices seems to have stabilized a bit, otherwise it was a steep fall for the last 4-5 months. Many of the historic support levels were breached, even for well established coins such as Ethereum, Litecoin and Monero.

[Juggy777]

I think it is a temporary price for bitcoin. Very soon will be bitcoin halving and it will definitely increase the price for cryptocurrencies.

snip

I don’t understand how people believed that rich people aka whales are not buying bitcoins, they have been steadily buying bitcoins on the dibs and lower price always encourages them to buy more. @FaMouS8828 Bitcoin halving effects should kick in coming months, and hopefully it will give bitcoins prices a much needed boost.

Sources:

https://www.coindesk.com/massive-1-billion-bitcoin-whale-transaction-makes-waves

https://www.newsbtc.com/2019/10/11/more-whales-are-hoarding-bitcoin-after-accumulating-during-bear-market/

https://www.coindesk.com/bitcoin-may-see-november-price-boost-with-halving-due-in-six-months

[lienfaye]

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

And bitcoin is on the rise today and you, who don't believe bitcoin is still poor today! Hahahaha..
This is the reality that many people today are pulling their partner down because they see it as lifting now. Why don't you support bitcoin so that we can make money together now?

I think he suffered from losses before thats why he wanted others to dump their bitcoin just like what he did. Unfortunately many investors are not thinking the same especially the old ones here as we know how volatile the market. In fact btc price move upward from $3k early this year up to its peak of $13k so its not bad for btc holders who buy at low price.

If you can wait there's a chance to gain from our investment we just need a lot of patience.

[White Christmas]

Are you talking about those people who gets bankrupt because suddenly bitcoin dumps so bad? Then you're right there are people who are suffering losses right now because of the dump of bitcoin, but do you think that there is also some people who are holding multiple bitcoins right now?
Bitcoin is almost $9,000 to $9,400 and we are seeing some people who have a lot of bitcoins then we can consider them as millionaires or rich people because they are still having those numbers of bitcoins.
Let's wait until the bitcoin goes to the moon and we will be seeing again a lot of people who are getting rich because of bitcoin.

[matchi2011]

Are you talking about those people who gets bankrupt because suddenly bitcoin dumps so bad? Then you're right there are people who are suffering losses right now because of the dump of bitcoin, but do you think that there is also some people who are holding multiple bitcoins right now?
Bitcoin is almost $9,000 to $9,400 and we are seeing some people who have a lot of bitcoins then we can consider them as millionaires or rich people because they are still having those numbers of bitcoins.
Let's wait until the bitcoin goes to the moon and we will be seeing again a lot of people who are getting rich because of bitcoin.

Maybe you are right regarding to those people who went bankrupt and quit away they are no longer interested, but in terms of new investment
chances that those rich people are just waiting for the right time before investing inside, trying to carefully research and do good assessment
before jumping in. MArket situation might also affects them, rich people always trying to be in the safe side so expect them to completely ride
once they see or being convinced that they already understand everything.

[ReiMomo]

Maybe not now, but I do believe that bitcoin will be able to rise up again so if you want to get profit on it you should know how to hold for a long term, much better to trust bitcoin and keeps on holding it until the price rises again for you to earn a massive profit on it near in the future. I don't do believe it will not go down because there are bullish well-known people predicting Bitcoin that will touch to $16 by this year and that it the start to feel the next halving result.

[JC btc]

Let us keep in our mind, that rich people does not just relying on holding of Bitcoin, they don't waste time, instead of just holding they are also investing in some altcoins and they are also doing trading, and other non crypto related business too. Those who wanted to become rich are not just relying on luck, but they are building their own destiny in different ways.

[bitzizzix]

If you believe in whatever bitcoin you want will be achieved, and only takes time and you have to be patient because there is no instant that everything will go through the process including bitcoin.
bitcoin is more profitable in long-term investments without a set time limit, and just waiting for the price of bitcoin to rise to the highest price and then you sell it and it will make you rich.

[youdacapt]

Let us keep in our mind, that rich people does not just relying on holding of Bitcoin, they don't waste time, instead of just holding they are also investing in some altcoins and they are also doing trading, and other non crypto related business too. Those who wanted to become rich are not just relying on luck, but they are building their own destiny in different ways.

at least they are trying to continue to return their assets that are drastically reduced. Many new people have been trapped in the previous BTC halving moments, and this time they are sure to prepare everything confidently, true wealth is the result of long-term processes that have accumulated from increased experience, current bitcoin prices are not final, and market curiosity will always moving up.

[TelolettOm]

There are still people who remain rich in a down market because they are trading on Bitmex, which many people actually benefit from. besides this year there are also many other options that make people earn huge profits. like IEO at the beginning of the year many get huge profits. including myself who was able to say this because I tried it

[cotton ball]

Rich person not come from only with bitcoin investment but also many of rich person in crypto come from with altcoin investment, bitcoin reached up until 30% but with altcoin investing can increase profit more than 200%, now many investor move from investing with bitcoin to altcoin investment because they have waiting too long with bitcoin price still down and lower.

[Visbay]

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

Ha, ha, that's just your mind, your words are misleading and 100% wrong, can't be held.

A few examples for your words,
I say in 2019 many people are already rich.

You will definitely remember December 2018 and continue to enter February and March 2019, the price of Bitcoin at 4,135 $, many people bought at that time, slowly going up until the peak of July 2019 at 10,695 $ and down again a little until holding at 8,057 $ now rises again daythis is 9,269 $.

So, in a situation like this there is a new rich person or not, there must be.
For your answer no new rich person is misleading.

My question,
If, you buy Bitcoin at a price of $ 4,135, for example (5) btc a few months have passed, you hold it for a moment and sell now, what percentage of your wealth.
Can you get called a new rich person.

I get your point that you are looking on the bright side, but there are also people who lost and indeed went to bankruptcy because they bought in the wrong time. I'm also going to give an example:

Person A bought bitcoin when its price is $4,000 while Person B is having doubts that time, so he just watched Person A, after months, Person A made a lot of profits and that is when Person B decided to buy bitcoin (too late), which is not recommended, Person B might be able to make some profits but not as big as Person A.

If Person B borrowed his capital to a bank or to someone, and he agreed to pay it with interest, he might not be able to pay it up on time because he missed the chance that Person A didn't miss.

You are totally right in this regard and this is the reason why there is always a right time to buy bitcoin. To avoid the condition of person B we should buy coins when the price becomes down in the market. It’s volatile so up and down will come but a good investor must know when to buy and when to sell, when the market is red we should just buy instead of waiting and when becoming Green we should sell and get profit.

[EdvinZ]

No need to panic, the price of Bitcoin behaves perfectly. It seems to me that a little more and Bitcoin will overcome the price limit of 10 thousand dollars. Any asset always rises and falls in price. The increase cannot be eternal, nor can the fall. Enough panic, fasten your seat belts, maybe Bitcoin is going to the moon.