BEEN IN THIS GAME FOR 6 YEARS

[GideonGono]

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My introduction wasn't really btc related projects but btc itself. Went something like "Look at the price, it's gonna blow up soon and you'll profit". I think it was like that for most people. RIP to those who got in right before it crashed though.

Of course we profit mostly when exchanging it for fiat since price relative does take large swings every now and then and a slow upward movement over the years.

Anyone who had been in the cryptocurrencies for a while when that price surge happen knew that something was up and would soon crash since the support had been stretched thin through the next ATH after another breaking the previous ones. So it is better to wait for the price to came crashing down before buying while those who have bitcoins would sell half and another then half of their assets. This is the wiser way but you know people are driven emotionally expecting unrealistic and risky mindsets.

Yes, it looked anomalous. There seem to be no good reason for it to rise up like that. But then again, hindsight is 20/20. Most people had a "just a few bit more" attitude and waited for more before deciding to sell off.

Lucky enough to not buy at those massively pumped up prices. People who "lost" money are mostly those who first heard of BTC during that rally.

Yeah! Those who were not with bitcoin during its dumps, they were not able to devise market strategies to take benefits of massive increase in the value of bitcoin. They simply decided to get hands on bitcoin in order not to miss the rally to moon. They were unaware of the volatile nature of bitcoin so when it started going down, such people did panic selling which ultimately resulted into losses.

That was what exactly happened with bitcoin in late 2017 and 2018 after the bitcoin started getting high lot of people just brought it as a method of getting rich quickly. Lots of people buy over 10k$ just trusting the hype that it would go 50k$. But as it drops maximum of such people did the panic sell. Though it may not be the only cause of BTC price drop that time but it was a major cause.

They think that the bitcoin would increase an unstapable of increasing but they did not know that if it reach into high value of money, there are a lot of people who sell their coin as their profit and it cause of the price go down in year 2018 and until now we can't see its growing value like before.

[TheUltraElite]

Yeah! Those who were not with bitcoin during its dumps, they were not able to devise market strategies to take benefits of massive increase in the value of bitcoin.

This is the case with people who are willing to get rich quick. They try buying without reading the charts, buying at the all time high. Eventually the price drops and they think it was all a scam, leaving no time to look into what bitcoin is or its use or its charts of price rise and fall.

They were unaware of the volatile nature of bitcoin so when it started going down, such people did panic selling which ultimately resulted into losses.

Yes, and this is going to continue because some idiots are always there even if you teach to preach the better methods of trading with analysis.

The whole "bitcoin can make us rich" hype is false context. It can make you rich but it it will not be overnight or permanent. You can cash in or cash out when the prices move sideways.

[DabsPoorVersion]

They think that the bitcoin would increase an unstapable of increasing but they did not know that if it reach into high value of money, there are a lot of people who sell their coin as their profit and it cause of the price go down in year 2018 and until now we can't see its growing value like before.

It is due to their high expectations. Actually, all of us do have high expectations, but being greedy driven to missed chances as selling at ATH. They expected that bitcoin will continue to increase without knowing that there are chances that its price will drop anytime once the correction in price will happen or many investors will sell their investment once they are satisfied with the profit they earn.

[EdenHazard]

Anyone who had been in the cryptocurrencies for a while when that price surge happen knew that something was up and would soon crash since the support had been stretched thin through the next ATH after another breaking the previous ones

Everyone is wise after the event

But in 2017 there were enough people even here, on the forum, who had been fooled and dizzied by the exponential rise of Bitcoin's price. Actually, most of the forum went off their rocker back in the day. It was no use trying to explain to all these people that the crash was sort of inevitable as they were extremely aggressive toward anyone who had been ever so slightly cautious and suspicious about so insane a rise. You would read things like "millions of dollars sitting in the orderbooks waiting to buy Bitcoin if there is a small correction". These dollars then quickly disappeared provided they had been there at all

People still expecting fortune from bitcoin volatility, they are waiting for the price to skyrocketing reaching the limits without knowing there's a bubble potential to burst ... indeed very classic , it's won't end well for them who has this simply dangerous  thoughts.

This high risk investment game requires high self awareness ...
You can always take a lot of benefits from this , I did it and so far so good. Been 8 years though for me watching the charts.

[meliodas]

They think that the bitcoin would increase an unstapable of increasing but they did not know that if it reach into high value of money, there are a lot of people who sell their coin as their profit and it cause of the price go down in year 2018 and until now we can't see its growing value like before.

It is due to their high expectations. Actually, all of us do have high expectations, but being greedy driven to missed chances as selling at ATH. They expected that bitcoin will continue to increase without knowing that there are chances that its price will drop anytime once the correction in price will happen or many investors will sell their investment once they are satisfied with the profit they earn.

That is their fault and the best thing that they could do is to analyze themselves and look for the lesson that their mistake brought them and implement those lessons to themselves. We should not also have a high expectation because sometimes too much expectation only leads to disappointment. Just set an achievable goal and stick with that.

[aysg76]

I regret entering the market so late as i entered few years back only when prices were high and last bull run of 2017 hit the market taking the prices to $20k which no one could expect from btc.This is the power of cryptocurrencies like btc that they have potential to change the digital world by shifting momemtum from fiat to digital coins based on blockchain technology.The prices will soon reach ATH and we all will be happy to be part of financial revolution.

[7788bitcoin]

Just because they get involved in this very forum and read thru topics will mean that they will learn everything there is to know. IMO, the basic information they provide in this forum wouldn't be enough. Users must experience it first hand

If you are an investor for the past few years then you will understand everything about the market and if you are simply taking about the forum where people are just looking to join bounties then you will not learn anything and there are many users who does not even know what bitcoin is all about rather they know that it is used to collect bounties.

should not just be satisfied by hearsays, sure you'll be aware of what might happen, but being confident in what you're doing would be the best case. I will not deny that reading gives you probably all the information you need to know, but it should not stop there.

You cannot trust any source about the market especially predictions, you have to have an idea and if you are trading for a long time you will understand the situation.

[perfect999]

Price prediction is normal, there will always be lots of people making a prediction on what the market price is going to be anytime soon. I have seen some predictions that are 100% accurate just as predicted (that's hard to see in this cryptocurrency market because cryptocurrency is hard to predict, but that's the truth.) A lot of people say that cryptocurrency cannot be predicted but I oppose, that's not true, people can predict the price. The problem is that we hardly see these accurate predictions, we only see the ones from some self-proclaimed experts who keep on feeding the public with a fake analysis that is never true.

The accurate prediction I saw was by someone in this forum and he predicted this semi-bull run we had in April, it just happened as he predicted it. I can't remember the person, been searching for the thread and I haven't seen it, wish someone would bring it up again.

[DaftAjax]

A lot of people say that cryptocurrency cannot be predicted but I oppose, that's not true, people can predict the price.

I believe so too. Even Nikola Tesla predicted Wi-Fi and Smar Phones in 1909, how hard can it be to predict the mere price of a cryptocurrency, given all the information we needed. That is because these people forget the difference between prediction and actuality. Prediction is close to what it will really have to be, while Actuality is the accurate representation.

The problem is that we hardly see these accurate predictions, we only see the ones from some self-proclaimed experts who keep on feeding the public with a fake analysis that is never true.

That is because it doesn't really exist, the accurate predictions, that is.

Some people do that to take advantage of the situation and make other people panic sell or buy Bitcoin. Or just trolling.

The accurate prediction I saw was by someone in this forum and he predicted this semi-bull run we had in April, it just happened as he predicted it. I can't remember the person, been searching for the thread and I haven't seen it, wish someone would bring it up again.

I would like to know this person as well, which might be beneficial to everyone.

[aioc]

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I cannot blame them if they prefer to wait because experts and old traders are also doing that , to teach therm fundamentals you should know  thoroughly, everything about Bitcoin so you can explain to them better the fundamentals and the many benefits of Cryptocurrency.

[daarul50]

Yeah! Those who were not with bitcoin during its dumps, they were not able to devise market strategies to take benefits of massive increase in the value of bitcoin.

This is the case with people who are willing to get rich quick. They try buying without reading the charts, buying at the all time high. Eventually the price drops and they think it was all a scam, leaving no time to look into what bitcoin is or its use or its charts of price rise and fall.

They were unaware of the volatile nature of bitcoin so when it started going down, such people did panic selling which ultimately resulted into losses.

Yes, and this is going to continue because some idiots are always there even if you teach to preach the better methods of trading with analysis.

The whole "bitcoin can make us rich" hype is false context. It can make you rich but it it will not be overnight or permanent. You can cash in or cash out when the prices move sideways.

that is the usual irony we can see around here, high expectation low knowledge.

those people who bought bitcoin at its all time high at $20000 and decided to keep hodling until today will surely get depressed, regretting what they have done , can you called it as a bad luck? yes it is a bad luck and dumb uneducated greedy all at once.
to understand this business required an intense education -autodidactly- it is a bit complicated , this is not luck based business but people tend to think like that , easily get lured by how someone making $10000 from just $100 , dude you can not do the same over and over again.
there is no harm dreaming about getting rich through bitcoin investment as long as you do it full of responsibility.

there a lot of cases where people asked to join in bitcoin investment without any sufficient knowledge and only given a promise that it will grow hundreds fold! which in reality everything heading in the opposite direction, they lost too much instead get their investment growing. that is the common irony.

[huige007]

I regret entering the market so late as i entered few years back only when prices were high and last bull run of 2017 hit the market taking the prices to $20k which no one could expect from btc.This is the power of cryptocurrencies like btc that they have potential to change the digital world by shifting momemtum from fiat to digital coins based on blockchain technology.The prices will soon reach ATH and we all will be happy to be part of financial revolution.

I can understand that but still, cheer up because you are earlier than many others. We cannot do anything about the past and best is to focus on present and future. I usually used to say that every time is right time to join the party. Now that you have started your journey, just make it a good one for yourself. There is no denial in the power of bitcoin and I hope you have invested in this coin for bright future.

[deisik]

Everyone is wise after the event

But in 2017 there were enough people even here, on the forum, who had been fooled and dizzied by the exponential rise of Bitcoin's price. Actually, most of the forum went off their rocker back in the day. It was no use trying to explain to all these people that the crash was sort of inevitable as they were extremely aggressive toward anyone who had been ever so slightly cautious and suspicious about so insane a rise. You would read things like "millions of dollars sitting in the orderbooks waiting to buy Bitcoin if there is a small correction". These dollars then quickly disappeared provided they had been there at all

People still expecting fortune from bitcoin volatility, they are waiting for the price to skyrocketing reaching the limits without knowing there's a bubble potential to burst ... indeed very classic , it's won't end well for them who has this simply dangerous  thoughts

People will always be expecting that

The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it

[SquallLeonhart]

They think that the bitcoin would increase an unstapable of increasing but they did not know that if it reach into high value of money, there are a lot of people who sell their coin as their profit and it cause of the price go down in year 2018 and until now we can't see its growing value like before.

I think that many of us made the mistake at this period because we were quite still new to bitcoin bull run, which I want to believe that was the first time such thing will happen and the first time that many of us will be exposed to it, so a lot of us really fell victim of fomo then to some of these market players, but it is the result of the seed that they planted then that they are reaping now, which is why we are finding it difficult to see the market pump hard again.

Anytime that these market players pump the coin, they hardly do get response of FOMO from people that will make them gain some profit, but they usually loose because when they pump, there are other existing investors who will see it as opportunity to remove their profit rather than buying again. This price we are seeing now is the real price of bitcoin and that is how it will be growing steadily until it reaches a peak.

[huige007]

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I cannot blame them if they prefer to wait because experts and old traders are also doing that , to teach therm fundamentals you should know  thoroughly, everything about Bitcoin so you can explain to them better the fundamentals and the many benefits of Cryptocurrency.

A choice that you cannot challenge or deny for every human being who has thought the right strategy going forward. This will be a decisive step for you to produce something good or bad.

Holding bitcoin for long or at least until next pump is right decision. It wont harm the investors. Waiting is the working method here. The amount of profits that can be gained from bitcoin depend on the duration of time for which a holder keeps it in pockets. If someone consider this choice a risky one, they have the option to learn about bitcoin and then make decisions to the best of their knowledge.

[GideonGono]

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I cannot blame them if they prefer to wait because experts and old traders are also doing that , to teach therm fundamentals you should know  thoroughly, everything about Bitcoin so you can explain to them better the fundamentals and the many benefits of Cryptocurrency.

A choice that you cannot challenge or deny for every human being who has thought the right strategy going forward. This will be a decisive step for you to produce something good or bad.

Holding bitcoin for long or at least until next pump is right decision. It wont harm the investors. Waiting is the working method here. The amount of profits that can be gained from bitcoin depend on the duration of time for which a holder keeps it in pockets. If someone consider this choice a risky one, they have the option to learn about bitcoin and then make decisions to the best of their knowledge.

I also believe in that because bitcoin was the future investment where you can do a long term investment without losing profit when it comes to year by year but if you want a fast money but a higher risk then do trading or other investment that can give you more income.

[South Park]

That was what exactly happened with bitcoin in late 2017 and 2018 after the bitcoin started getting high lot of people just brought it as a method of getting rich quickly. Lots of people buy over 10k$ just trusting the hype that it would go 50k$. But as it drops maximum of such people did the panic sell. Though it may not be the only cause of BTC price drop that time but it was a major cause.

It is always the same story even if the details change slightly, this happened with the tulip mania on 1637, the dot com bubble, the real estate bubble and it happened to bitcoin and cryptocurrencies in general in 2017, people are always looking for an easy way to make money and when they see an asset going up then they want to get some of the profits as well, for those that are smart that is the moment to get out of the market since the bubble cannot last that much longer, then the price crashes and any dreams of getting rich quickly gets crushed.

[EdenHazard]

Everyone is wise after the event

But in 2017 there were enough people even here, on the forum, who had been fooled and dizzied by the exponential rise of Bitcoin's price. Actually, most of the forum went off their rocker back in the day. It was no use trying to explain to all these people that the crash was sort of inevitable as they were extremely aggressive toward anyone who had been ever so slightly cautious and suspicious about so insane a rise. You would read things like "millions of dollars sitting in the orderbooks waiting to buy Bitcoin if there is a small correction". These dollars then quickly disappeared provided they had been there at all

People still expecting fortune from bitcoin volatility, they are waiting for the price to skyrocketing reaching the limits without knowing there's a bubble potential to burst ... indeed very classic , it's won't end well for them who has this simply dangerous  thoughts

People will always be expecting that

The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it

At the end of the day where they realized things far from the expectation, they can't afford to lose more ...

They would start crying like ' bitcoin is a biggest scam!' ' I lost thousands dollar in it within a month! ' and bla bla bla... a never ending frustrated stories caused by careless uneducated newcomers , that kind people are lack of responsibility and greedy at once, a perfect formula to make a mess with your life.
Bitcoin is high risk investment, people shouldn't put the money that they can afford to lose , it hurts to losing them I've experienced it.

[tbterryboy]

Imagine thinking in stats and suddenly the price crashes to a very low rate, I'm very sure that you wouldn't be happy with yourself because you will regret saving up and not selling when the price was about to crash.

I am not saying that you're wrong, but everyone has their own purpose for buying Bitcoin, in guessing maybe you just like it and that's why you're storing up numbers. There are people who are just interested in it as a method of transaction because it is cheap and fast and there are no restrictions, you can send to anyone in the world and pay the same fees and at the same speed rate which is faster than using banks. Then there are also people who are interested because it can be an investment and would yield a profit when they invest or trade it.

I work online for a company (a remote job) and they pay their workers with bitcoin. Some people just use it to receive their payment and once it comes into their wallet they will sell/withdraw it to their bank account.

[deisik]

The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it

At the end of the day where they realized things far from the expectation, they can't afford to lose more ...

They would start crying like ' bitcoin is a biggest scam!' ' I lost thousands dollar in it within a month! ' and bla bla bla... a never ending frustrated stories caused by careless uneducated newcomers , that kind people are lack of responsibility and greedy at once, a perfect formula to make a mess with your life

But here's the catch (another one, as there are many)

If they were just a little bit more patient, and had simply waited out the bad times they wouldn't be crying out loud. I mean Bitcoin went exponential to 20k in a matter of a few months, then crashed to 3k (here comes the "bitcoin is a biggest scam" part), in a short while resurrected and surged back to almost 14k

The point is, it was first greed that forced people to enter the fray at the wrong time, and then it was fear that made them leave the game at wrong time again. And what do we get from this? Correct, that there is no right time for the wrong people. So it is greed and fear as the two sides of the same coin that always come and go together