Bitcoin Price Dropping - Are You Scared?

[FinanciallyFreeFox]

Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

Strangley or not though, I'm not worried. For me this just seems like part of the plan.

I'm not interested in wha the price of Bitcoin is today, this week, this month, or this year. I'm interested in what the price of Bitcoin is going to be in 2, 3, 5, 10 years time.

This could be a great buying opportunity for additional accumulation (not advice).

The majority of sentiment on this forum seems to be positive, but I am seeing some uncertainty.

So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?

[Mandoy]

As long as bitcoin is alive I do not fear the price drop. I do believe that bitcoin has a huge potential and bitcoins acceptance is already on the way. Bitcoin mainstreaming may be fully realized 10 years later but as long as people are coming into cryptocurrency then bitcoins value will still go up in the near future. I also believe that the price drop recently is just temporary due to the threat brought by a certain person who deposited a huge amount of bitcoin in a certain exchange, but soon bitcoin will rally up again.

[The Sceptical Chymist]

They been saying buy the dip since 19K, why would anyone listen to those fools.

Man, you're bitter--though I do tend to hate that phrase "buy the dip".  That's only smart advice when there's some momentum behind the price, and in this case there wasn't.  Bitcoin was stagnating around $10k for a while, and it's recent drop isn't exactly a dip.  It's a pretty steep drop.

But am I scared?  No.  I don't own much bitcoin for one thing, and for another I've been into crypto long enough to know that this kind of volatility is to be expected, especially after a sharp jump ($3500 to over $10k in a short period of time).  Sure, I'd been hoping that bitcoin would break to the upside but it didn't, and there's nothing I can do about it.

What I'm more worried about is the whales getting scared and selling, which they're probably already doing.  I'd like to not see bitcoin drop any further....but again, nothing I can do about it.

there is a great deal of FUD and pessimism in the market.

I haven't heard much FUD on the forum lately, at least not before this most recent drop, certainly nothing that would account for it.  And yeah there's pessimism now, after the fact.

[Jating]

Been here since 2016 and I have seen worst than that so obviously I'm not affected by this price drop.

$19k to $3k? Lol in a span of about a year, I guess we really need to understand that crypto market is full of unexpected retracements and corrections before going on another all time high. So brace yourself, maybe this dump is not over yet and the price could go to $7k levels, just saying.

[Linkkoin]

Considering the drop was initiated by a whale dumping BTC to buy it cheaper later on, you should fear only panic selling yourself!

[pawanjain]

Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

Strangley or not though, I'm not worried. For me this just seems like part of the plan.

I'm not interested in wha the price of Bitcoin is today, this week, this month, or this year. I'm interested in what the price of Bitcoin is going to be in 2, 3, 5, 10 years time.

This could be a great buying opportunity for additional accumulation (not advice).

The majority of sentiment on this forum seems to be positive, but I am seeing some uncertainty.

So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?

Am I scare or worried ?
Nah man I am over this shit. I have seen times when bitcoin actually went down the drain and many lost hopes from it yet it survived and is standing where it is today.
So I am kinda confident that whatever the reason be for bitcoin going down, it will bounce bank sooner or later.
I am just holding on to my coins while enjoying the journey.

[rdbase]

Considering the drop was initiated by a whale dumping BTC to buy it cheaper later on, you should fear only panic selling yourself!

There were any factors in play here for the bitcoin price to drop so significantly over the past couple of days.
One was bakkt although many are denying it had anything to do with it but you can not say it didnt contribute to it even for a couple of percentage of the 20% dip in the price since a week ago. This was from people going in with the fud and panic selling.
The other was a $1.2 billion dollar sell off done on an exchange just a day before. This was the major part of the steady increase of the dip. This is for certain.
And lastly was the cme contracts expiring within the next 24-48 hours. This can be another major factor in people selling off thus cause the price to fall closer to where people want to start exiting their holdings.

[Bitcoinwaist]

When others are fearful you know what to do

[bitbunnny]

What a heavy word is used, why should anyone be scared?  It's a price correction, nothing unsual that we haven't already seen before and that is not happening all the time.
I'm involved in Bitcoin since 2013 so I guess that there is nothing that could scare me related to Bitcoin.
Probably many expected price to go up and not such scenario with price fall so probably a panic gets them although there is no reason for that.

[Bitcoinwaist]

When others are fearful you know what to do

A burst bubble or a sinking ship don't care if you are brave or fearful.
Everyone dies. 

Even a Honey Badger can drown.  

Why so salty bro? You seem to be implying that bitcoin is dying because the price is going down. Its called volitility and you should know if you were in during the 2017 bullrun. The price retraced from $5k to $3500 early that year. Same as now. $10k to $8k. Rest assured btc is not dying. Bears got slaughtered this year from $3500 to $14k. If they dont win sometime they wont play. Relax

[UnDerDoG81]

It's only healthy. Price was stuck at 10k. Let's dive down to $6.5k and then moon...

[sunsilk]

I'm not worried at all although sometimes there's that odd feeling that I feel but still I remain intact and I know what I'm doing. Don't listen to the FUDs out there, they will do no good to you folks.

When others are fearful you know what to do

Warren Buffett's quote. 

Considering the drop was initiated by a whale dumping BTC to buy it cheaper later on, you should fear only panic selling yourself!

Opening for the institutionseveryone for cheaper btcs? for Bakkt's? Luckily, I've stopped and panic selling years ago.

[serjent05]

2 years - Price is Lower
3 years - Price is Lower
5 years - Price is Lower

Or it can go the other way?  Bitcoin price had shamed lots of TA experts and even disappoints both negative and positive speculators.  

10 years - Recovery if you are lucky and bitcoin did not die in the prior 9 years  

Why need to be lucky when one can study  the market and know the entry and exit point.  There is no need to be loyal and hold too much on one thing that we are too unsure.  And if you hate it just leave the scene. It will only pile up stress in your mind.

They been saying buy the dip since 19K, why would anyone listen to those fools.

Probably because they share the same sentiments, while others just follow blindly, later to be found out that they were just "sheeps waiting to be slaughtered".  


Definitely I am not scared, it has been like this for many years, I am just curious why someone had not learned about this volatility of Bitcoin.  This is normal, even in regular stocks this kind of thing happen, even to the point of dropping near to zero.  And everything in Bitcoin industry is uncertain until it happen.  So we just need to be well prepared for every situation that will come in our way in this Cryptocurrency Industry.

[figmentofmyass]

Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

ah that's nothing. we got down to at least 5 back in august. i agree that sentiment is getting there though---lots of people around here are becoming legit fearful. there's also lots of bears cheering on lower prices.

Strangley or not though, I'm not worried. For me this just seems like part of the plan.

that's one anecdotal indication that we haven't seen the bottom yet. which is also in line with the index only hitting 12 so far......

[Ayiranorea]

It's only healthy. Price was stuck at 10k. Let's dive down to $6.5k and then moon...

What's the need of diving back to $6.5k and then to the moon.... Lol

Price right now is getting near to $8000, and we've crossed much lower price this year which was around $3000. By that time every user might have feared bitcoin would go valueless, but what happened in reality made everyone to get back hope and understood the price moving steep down and recovering is common. We experienced good growth from the month of April, from around $3000 to $14000. Now once again the price has crashed, have patience and we'll set back to moon or at least a new ath.

[leowonderful]

Not very much. I was trading with a little bit of my stack that was leveraged that ended up getting stopped out in the large, red daily candle we had a few days ago, but I've still got a good portion of my Bitcoin holdings still in cold storage and my averaged entry cost is still below our current price. I'm also continually dollar cost averaging every week or so, so these prices are a decent time to be adding to your stash IMO. There's certainly plenty of bearish FUD out there at this time, even a bit in this subsection of this forum, so be aware of what you're reading around here and on the internet.

[maxreish]

I'm so glad that before the huge drop price of bitcoin, I manage to sell it out. It's because I see this coming and my technical analysis said so. Worried? Scared? No. Those who think they were late because it crashed down, don't worry. This is crypto market where volatility stands. It is not forever bear.

We've been here before, last year's dip was more worst than we are experiencing today, isn't? But we manage to recover. We made it before, why not today?
We wait, hold and become profitable. That's the three steps we have to do in this situation.

[perla]

My answer is, still really confident with it. I have seen worse than this 3-4 years ago. I mean actually it is different condition. But i am with bitcoin since it is maybe $150 so with this price i am still confident. As long it not dumped very hard until maybe $1000 i wouldn't panic yet.

[exstasie]

Now that I've closed most of my short hedge, yeah, I'm scared.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

It's already back at 24. Surprising considering we've only bounced $300-400.

Has anyone run a study of how effective this indicator is? I'm a little skeptical about some of their data sources like Google Trends, Bitcoin Dominance, and the way they analyze Twitter.

[Saint-loup]

Unfortunately, there are some reasons to be scared : the Lightning Network hack, the failure of Bakkt launch and the Google quantum computing exploit.