Bitcoin Price Dropping - Are You Scared?

[michellee]

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 sitution.

That is why we need to analyze, and I am glad that you found something, so you sell bitcoin before the huge drop price. And now, I am sure that you can buy bitcoin at a very low price

I don't scare or worry because I have all the money and like above me said, I sell at the right price although it's not a good time for me. But still, I can take the profit first before it's down.

[owengtam09]

I am also not worried if bitcoin is dropping. Bitcoin price is important in the next 5 year maybe, it can be possibly the best price or maybe the best time to sell your bitcoin investment today (not advice as well).
I am not saying that I am right and I am good at predicting but don't be afraid if the bitcoin price right now gets low for a while, in time, you/we can see big improvement for sure.

[fabiorem]

No. But I froze my DCA strategy since the price have stagnated, weeks ago. I said back then I would be buying only on the next level (be up or down). However, the price took a very steep fall, kind of a mini-crash. For this reason, Im going to wait for $6800 to buy more. If it recover, then I will wait for 15k.

[baltasarlicht]

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......

Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018! And people start calling the bottom again:

https://i.imgur.com/9qZR4Ta.png

[fabiorem]

Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018! And people start calling the bottom again:

https://i.imgur.com/9qZR4Ta.png

And again the nocoiners will not buy it.

[Deborah Christine]

I am not afraid that the price of bitcoin continues to fall, while we are still using bitcoin, then bitcoin will continue to be valuable. Many people and myself still believe that bitcoin remains a profitable investment.The decline in the price of bitcoin is a common phenomenon that occurs every year. In the near future, BTC prices will again experience price increases. Because interest in buying and selling digital assets is increasing.

[pieppiep]

I heard from my friends will have a hard way to increase, they told me that I should not be scared or worry even if the price got dump like today. Bitcoin will be back soon, and there is nothing to worry. Moreover, I have a big opportunity to buy back Bitcoin at a low price. And if I can get at least 1 bitcoin, I will make a nice profit after the price increases.

Yes, I know that it will take a long time to see the price will break $10k again, but as long as I can use my time always to buy low and sell high, I will not panic like other people. With the current market now, I see many people are selling their bitcoin too early because they are panic to see the price dump deeper. I don't want to be like them, and I will still hold some bitcoin while I can sell the other bitcoin to make a profit.

[Febo]

Bitcoin Price Dropping - Are You Scared?

It is as it is planed. Bitcoin price should reach $10000 only at the end of the year but we allready had $10000 Bitcoins in June. That was a suprise. Those 5 montsh of constant price increase. A big surprise I would never predict. What is happening right now is totaly normal. Price can easily go down to $6000 before recovering. But can also stay where it is right now. We are not hihg or low right now. Just perfect.

[JohnBitCo]

Bitcoin Price Dropping - Are You Scared?

It is as it is planed. Bitcoin price should reach $10000 only at the end of the year but we allready had $10000 Bitcoins in June. That was a suprise. Those 5 montsh of constant price increase. A big surprise I would never predict. What is happening right now is totaly normal. Price can easily go down to $6000 before recovering. But can also stay where it is right now. We are not hihg or low right now. Just perfect.

How can you say that Bitcoin correct price for December 2019 should be 10,000 ? I do not see any logical reasoning behind it. I am sure bitcoin will be either 1- 3K above or below 10K on December this year.

And Yes, the bitcoin falling is very scary as after the dump it takes a lot of time in recovering the bitcoin price.

[2girls]

I am not afraid that the price of bitcoin continues to fall, while we are still using bitcoin, then bitcoin will continue to be valuable. Many people and myself still believe that bitcoin remains a profitable investment.The decline in the price of bitcoin is a common phenomenon that occurs every year. In the near future, BTC prices will again experience price increases. Because interest in buying and selling digital assets is increasing.

The Bitcoin price fall is healthy in a sense because we cannot see bitcoin to be always rising. We have seen last few months that bitcoin prices were stable above 10,000K and i think it was necessary for bitcoin to dump a bit and retest its previous support levels before making another big momentum.

[Oilacris]

I am not afraid that the price of bitcoin continues to fall, while we are still using bitcoin, then bitcoin will continue to be valuable. Many people and myself still believe that bitcoin remains a profitable investment.The decline in the price of bitcoin is a common phenomenon that occurs every year. In the near future, BTC prices will again experience price increases. Because interest in buying and selling digital assets is increasing.

The Bitcoin price fall is healthy in a sense because we cannot see bitcoin to be always rising. We have seen last few months that bitcoin prices were stable above 10,000K and i think it was necessary for bitcoin to dump a bit and retest its previous support levels before making another big momentum.

On any markets like forex stocks and indices we do really see these falls it do only differentiated with the level of volatility or percentage but overall its all the same.
For a healthy market we do see this movements yet we do know that theres only 2 people on this market which is buyers and sellers.

Being scared is inevitable since we know that we are risking our money here to trade up but if you do go for long term then these price movements wont really be a bothersome for you.

[FinanciallyFreeFox]

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

How realistic is the Google quantum computing exploit though?

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.

I check it everyday, and it seems to be very reflective of the sentiment of people.

It only updates once a day though, and it is based on movements in the price, so you can't really use it as an indicator for trading.

[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.

How realistic is the Google quantum computing exploit though?

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.

I check it everyday, and it seems to be very reflective of the sentiment of people.

It only updates once a day though, and it is based on movements in the price, so you can't really use it as an indicator for trading.

It doesn't matter how realistic is the quantum computing exploit, it matters how people think it is...   Most of people investing in Bitcoin are not computer scientists neither even tech savvy. So they don't care how feasible it is

[figmentofmyass]

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

How realistic is the Google quantum computing exploit though?

they created a very specific problem that was intentionally difficult to solve with traditional computers, then solved it with a quantum computer. sort of like chopping off your opponent's leg before a footrace.

this is very far removed from solving real problems like those that could break modern encryption.

i'm also curious about this "lightning network hack". all i can find is this from a month ago: https://www.theblockcrypto.com/linked/38068/bitcoins-lightning-network-found-to-have-security-vulnerabilities

It doesn't matter how realistic is the quantum computing exploit, it matters how people think it is...   Most of people investing in Bitcoin are not computer scientists neither even tech savvy. So they don't care how feasible it is

i didn't see much FUD about it. most of the articles state pretty clearly that it's not a risk to bitcoin.
https://cointelegraph.com/news/googles-quantum-computer-breakthrough-not-a-risk-to-bitcoin-says-dev
https://www.ccn.com/google-quantum-bitcoin/
https://finance.yahoo.com/news/google-quantum-computer-means-bitcoin-165320736.html

[FinanciallyFreeFox]

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

How realistic is the Google quantum computing exploit though?

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.

I check it everyday, and it seems to be very reflective of the sentiment of people.

It only updates once a day though, and it is based on movements in the price, so you can't really use it as an indicator for trading.

It doesn't matter how realistic is the quantum computing exploit, it matters how people think it is...   Most of people investing in Bitcoin are not computer scientists neither even tech savvy. So they don't care how feasible it is

It matters to me if my Bitcon can be cracked by a powerful computer.

It doesn't matter to me if uninformed retail investors sell their Bitcoin. If there is no substance to it, it will become yesterday's story.

If there is substance to it however.... then we need to be worried.

[figmentofmyass]

It matters to me if my Bitcon can be cracked by a powerful computer.

It doesn't matter to me if uninformed retail investors sell their Bitcoin. If there is no substance to it, it will become yesterday's story.

If there is substance to it however.... then we need to be worried.

there is substance to the idea that QC will eventually crack bitcoin's signature algorithm. on what timeline exactly is hard to say, but some cryptographers believe it could happen by 2027 at the earliest.

the recent google story re "quantum supremacy" is non-news.

[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.

How realistic is the Google quantum computing exploit though?

they created a very specific problem that was intentionally difficult to solve with traditional computers, then solved it with a quantum computer. sort of like chopping off your opponent's leg before a footrace.

this is very far removed from solving real problems like those that could break modern encryption.

i'm also curious about this "lightning network hack". all i can find is this from a month ago: https://www.theblockcrypto.com/linked/38068/bitcoins-lightning-network-found-to-have-security-vulnerabilities

It doesn't matter how realistic is the quantum computing exploit, it matters how people think it is...   Most of people investing in Bitcoin are not computer scientists neither even tech savvy. So they don't care how feasible it is

i didn't see much FUD about it. most of the articles state pretty clearly that it's not a risk to bitcoin.
https://cointelegraph.com/news/googles-quantum-computer-breakthrough-not-a-risk-to-bitcoin-says-dev
https://www.ccn.com/google-quantum-bitcoin/
https://finance.yahoo.com/news/google-quantum-computer-means-bitcoin-165320736.html

So you didn't hear about the Lightning Network hack and you didn't hear about the FUD of the Google exploit? 
Have you heard about the low volume on Bakkt at least? 

[figmentofmyass]

So you didn't hear about the Lightning Network hack and you didn't hear about the FUD of the Google exploit?  
Have you heard about the low volume on Bakkt at least?  

it's always adorable when people try to explain price moves with news. the "lightning network hack" (if you could call it that) happened a month ago and the google news came out 3 days before the crash. obviously no one cared about either story.

you really think the market crashed because bakkt didn't have high enough volume?

you realize that rallies and crashes occur with or without news stories, right? the most important factors are price and commitment of traders. traders were heavily long heading into the dump. so when price dropped a little bit, it triggered stops, causing new lows and triggering more stops and margin liquidations, inducing panic selling as price quickly dropped 15% in a matter of minutes. that's what price does---it creates feedback loops. lower prices beget lower prices as traders and investors are squeezed into cutting their losses. news pales in comparison to these market pressures.

[J1mb0]

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.

Me too, as long as Bitcoin is alive I will keep it. I am not a daily trader so I don't care too much about the price fluctuation of Bitcoin, my goal is to try to earn a lot of bitcoins and keep it until the end of 2020.

[qwertyup23]

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

Every time the price drops, I see it as an opportunity to purchase more for short-term investments. I withdrew them as soon as the cost of the initial price is higher than the selling price by at least 10-20%. With the volatility of bitcoin, this may depend upon external and internal factors but I usually cash them out 2-3 weeks from the date I purchased them.

Instances like these, people should view it in a positive light rather than taking it as a loss.

I am not afraid that the price of bitcoin continues to fall, while we are still using bitcoin, then bitcoin will continue to be valuable. Many people and myself still believe that bitcoin remains a profitable investment.The decline in the price of bitcoin is a common phenomenon that occurs every year. In the near future, BTC prices will again experience price increases. Because interest in buying and selling digital assets is increasing.

The Bitcoin price fall is healthy in a sense because we cannot see bitcoin to be always rising. We have seen last few months that bitcoin prices were stable above 10,000K and i think it was necessary for bitcoin to dump a bit and retest its previous support levels before making another big momentum.

What do you mean by 'healthy'? I find that the word volatile is suitable as the price cannot be predicted accurately. You would need to rely on data, news, and research before planning your next goal in this bearish market.