No need to PANIC!

[Darooghe]

I’m a little surprised that people seem to be panicking about the recent Bitcoin price drop to $7000. I guess I’ve watched Bitcoin for so long (since 2012) that the volatility doesn’t phase me.

What we need to remember is that just a few months ago the price was a little over $3000 so it’s doing fine. That spike to $14,000 was way overpriced.

It doesn’t really matter to me if people panic because it gives me an opportunity to buy more Bitcoin at a cheap price.  And I still am very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

In my opinion most people don't care about bitcoin or the technology. This is just a get rich lottery ticket they bought into. As the price declines more people realizing that it is a losing lottery ticket. Nevertheless I'm in it since 2015 and I do a little panic. this is several months of continuous decline and I don't see any sign of any buyer anywhere. Order books are ultra thin on every single exchange. People who've been burnt during the last couple years aren't going back to Crypto anytime soon. I'm not selling anything though. I sold enough near 13,000 USD but I'm still very concerned for Bitcoin and crypto in general.

[barota]

everyone should hold bitcoin because some whales want  to make traders at panic for buying their bitcoin at cheap price. we should learn the lesson of the past when prices grow lot of time . let leave the whale sell his bitcoin then we will buy their bitcoin reverse what he want

[lienfaye]

Thats exactly what im thinking, many investors are worried or panic selling because of the sudden price dropped but they didnt realize that this situation is much better compared to the price earlier this year.

If you understand how the market works then this situation should not be new to you and cant cause you to think negative. We know this is a temporary situation so cheer up investors, the market will recover unexpectedly thus wait and hold.

[bitbunnny]

I think that panic started as soon as the price dumped below 8000$. There are always new and unexperienced Bitcoin users who react on every negative price change so there will always be a panic sellers. Also, some people will never actually learn how market works ans that corrections are normal part of volatility process.
Don't sell.and panic, hold and buy some more.

[strunberg]

I think that panic started as soon as the price dumped below 8000$. There are always new and unexperienced Bitcoin users who react on every negative price change so there will always be a panic sellers. Also, some people will never actually learn how market works ans that corrections are normal part of volatility process.
Don't sell.and panic, hold and buy some more.

stress level panic for bitcoin price on $5700 , if this level break we have to becarefull with next low that may formed , for traders or investors that have no skill they will panic when bitcoin move on this range, understanding market behavior, market sentiment and momentum will help us to face this condition. we ill not be panic when see price crashing, but we will have another sight from this. we see this as good opportunity to enter in market and buying coins in lowest price.

[bitvalak]

I’m a little surprised that people seem to be panicking about the recent Bitcoin price drop to $7000. I guess I’ve watched Bitcoin for so long (since 2012) that the volatility doesn’t phase me.

What we need to remember is that just a few months ago the price was a little over $3000 so it’s doing fine. That spike to $14,000 was way overpriced.

It doesn’t really matter to me if people panic because it gives me an opportunity to buy more Bitcoin at a cheap price.  And I still am very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

At the end of the year is a moment for profit taking for big players, so it's only natural that this dumper occurs. Then the big players will wait for the price to go down to buy it back.
Unfortunately there are still many who panic with this condition, the more panic, the lower the price the whales will buy.

[piebeyb]

no panic then no party, everyone saw the panic last night to touch $ 6800, I hope last night the price will touch it $ 6666.66, apparently not at all, I think they are the big players prefer to make a lot of people panic of course will reduce bitcoin holders in the future, at least they control the news and other media sites, I can only take a moment when prices bounce for quick profits, I can only say thanks for their panic, lol

actually I am one of those people who panicked. 
seeing the price of bitcoin and altcoin are falling so fast, making people who hold it will definitely continue to pay attention to prices.
unfortunately, I'm quite patient with that. but, I quite guarantee that enough people sell the assets they have been holding in the long run. however, it becomes an opportunity for investors to buy back in large quantities. I remember that this often happens, and then prices return to the level of $ 9k within a few weeks, or months.

I do not forbid people not to panic and also hold them to HODL, I support whatever they do, if you are a panic and want to prevent your panic, you should be able to look for other activities to not see the price of bitcoin falling off the internet and go to a place a place for you to be more relaxed, but if you think that panic is a hobby I won't force you too, if I panic I usually do the same thing to turn off the internet and close the laptop 

[bhabygrim]

I think panicking when the price drop is natural even though we don't plan to sell our crypto we still feel nervous or something when the price drop.
We couldn't help it even if we trust that in the future the price would rise again we couldn't help but to doubt it when the price drop starts,
We would doubt it if it would continue to drop or rise again and I think everyone feels the same way .

[crossabdd]

I think it's natural for someone to have panicked about falling bitcoin prices. especially those who buy at the price of $ 8000- $ 9000. and I believe, those who panic are beginners. or those who are old but don't have much knowledge about bitcoin price fluctuations. or those who don't have patience. for people who already understand. the price of falling bitcoin is not a panic, but an opportunity, adding to bitcoin and saving it long term. I personally really like the current falling prices.

[julius caesar]

I’m a little surprised that people seem to be panicking about the recent Bitcoin price drop to $7000. I guess I’ve watched Bitcoin for so long (since 2012) that the volatility doesn’t phase me.

What we need to remember is that just a few months ago the price was a little over $3000 so it’s doing fine. That spike to $14,000 was way overpriced.

It doesn’t really matter to me if people panic because it gives me an opportunity to buy more Bitcoin at a cheap price.  And I still am very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

It is totally alarming and panicking especially there are a lot of people who hold bitcoin. I know in the last few days or yesterday the price of bitcoin drops to 6900$ and it below to 7000$. In this kind of market once you get panic there will be a tendency that you could lose an opportunity to earn income. I'm not totally confident the price of bitcoin will really go up to 20,000$ and even there will be a new bitcoin halving there still a chance that the price will go down. But, what do you think will gonna happen at the price of bitcoin at the end of this year?

Holders panic today and sell because they don't want to reduce the value of their bitcoin. So they are selling now and are still waiting for the lower price to buy back.

what is happening now is natural, as you said @op and its price will rise again when whales and big time traders start buying at low prices.

Holders are always the first person who get panic in every fall down of the price and because of this the whales have a chance to buy more bitcoin and they can also control or manipulate the market. Do not be a panic seller and just stay calm whenever we experience a sudden drop in the price.

[The Sceptical Chymist]

And I still am very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

I am, too.  Well, maybe more hopeful than confident at this point, since the vibe of the market lately has been pretty bearish.

Price drops like the ones we've seen lately don't freak me out, either, but I can certainly understand why other traders who haven't been around bitcoin for years might panic--especially short-term traders who were betting that bitcoin would rise and instead were treated to a slide of a few hundred dollars.

At least bitcoin rebounded somewhat from last night when it was below $7k and I figured it was going to go lower than $6600 and stay there.  I find these movements interesting instead of fear-inducing, but like you I've seen enough of them that I've come to expect nothing less from bitcoin.  Let's clink our glasses in a toast to a better year in 2020.

[BChydro]

I am, too.  Well, maybe more hopeful than confident at this point, since the vibe of the market lately has been pretty bearish.

I am also hopeful that the market would rise after the halving but i am not too confident with the way things are going as there are many factors this time around.

Price drops like the ones we've seen lately don't freak me out, either, but I can certainly understand why other traders who haven't been around bitcoin for years might panic--especially short-term traders who were betting that bitcoin would rise and instead were treated to a slide of a few hundred dollars.

The main difference between new investors and the investors who are around for a while they know that these kind of market situations are not that unusual in this market as we have seen more volatility in the past and as of late the market was almost stable for a while and we can interpret that the market went down to give another push.

 

[Visbay]

everyone should hold bitcoin because some whales want  to make traders at panic for buying their bitcoin at cheap price. we should learn the lesson of the past when prices grow lot of time . let leave the whale sell his bitcoin then we will buy their bitcoin reverse what he want

Very good suggestion buddy, it’s really nice advice for all new traders as they must not aware of whales so that they will sell their coins at panic. In the market we must know such people do exist so better stay away from them keep buying if you see the price is fallen. Holding and waiting will tell you the reality of those black sheep’s but you only need to stay strong.

[Hamphser]

I’m a little surprised that people seem to be panicking about the recent Bitcoin price drop to $7000. I guess I’ve watched Bitcoin for so long (since 2012) that the volatility doesn’t phase me.

What we need to remember is that just a few months ago the price was a little over $3000 so it’s doing fine. That spike to $14,000 was way overpriced.

It doesn’t really matter to me if people panic because it gives me an opportunity to buy more Bitcoin at a cheap price.  And I still am very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

For a weak have hodlers of bitcoin i think it is kind of normal to have someone like them to start to panic when the market shows a sign of significant drop that would stay for long. Newbies are not exempted with this panic selling because usually they were the first one to dump straight when they can't see a profit in a short run. I don't know what are they thinking when the price started to drop they began selling.

[batang_bitcoin]

I think panicking when the price drop is natural even though we don't plan to sell our crypto we still feel nervous or something when the price drop.
We couldn't help it even if we trust that in the future the price would rise again we couldn't help but to doubt it when the price drop starts,
We would doubt it if it would continue to drop or rise again and I think everyone feels the same way .

Why doubt it if you are trusting that in the future price will increase? we all have a clear plan of holding and believing on bitcoin until it recovers well. But this normal situation and sudden change of emotion triggers whenever we see 10% or more drop. That makes other holders to worry if the price shall go up after that massive dump. But if you will compare the market situation since last year, you don't have to feel upset if you see such drops.

[akmal1984]

Thats exactly what im thinking, many investors are worried or panic selling because of the sudden price dropped but they didnt realize that this situation is much better compared to the price earlier this year.

If you understand how the market works then this situation should not be new to you and cant cause you to think negative. We know this is a temporary situation so cheer up investors, the market will recover unexpectedly thus wait and hold.

For people who have a lot of funds they might have been waiting for a moment like now when bitcoin prices are down. They must be prepared to buy in large quantities. However, for people who regularly look for bitcoin and sell it every day / week, the current conditions are clearly very worrying, I think. Even though they also know that this is temporary.

[STT]

very confident that the price will hit $20,000 sometime mid next year and probably quite a bit higher by the end of the year.

No you can be sure the market will swing to extremes, perhaps near term in a negative way and in future its quite likely to be upwards again but I disagree on the timing and inertia to the momentum of movement.   2020 people keep mentioning halvening but its not that saving grace that is imagined, its some focus and I guess a recovery but it can also be a peak price.
  I think its inline to guess conservatively we get 10k or so in the next year and in fact it takes until 2021 for real genuine pressure to the upside to occur and thats when estimating a new all time high is reasonable.   The halvening for its fundamentals takes time, it accumulates as some pressure and consecutively we'll have that rebound effect from the sell occuring right now.  So the two together is why its reasonable to expect a high at that later time, to guess 20k in 6 months is too much and beyond even BTC volatility to sharply switch.  I actually hope it takes longer as its more stable to do so.

[Natalim]

Yeah, there is no need to panic and actually thanks to you mate, we need more thread like this educating people that they should not panic as bitcoin is a good investment for long term.

The pump and dump that we are witnessing has never been unusual in this market, you can even check the chart to see the bitcoin history and find some news that bitcoin has been declared dead many times and dying many times too, but its still here, people will just forget it when the bull run comes.

[Free1bitco.in]

Yeah, there is no need to panic and actually thanks to you mate, we need more thread like this educating people that they should not panic as bitcoin is a good investment for long term.

The pump and dump that we are witnessing has never been unusual in this market, you can even check the chart to see the bitcoin history and find some news that bitcoin has been declared dead many times and dying many times too, but its still here, people will just forget it when the bull run comes.

Well, maybe panic is not an option. but for now, there are at least 30% of people who have sold their assets because of this decline. I think that those who survive today are people who don't panic. if we look back to the previous year, the price of bitcoin has even declined even worse than this, so for now, I don't have the slightest bit of panic. I am very sure that the price of bitcoin will go up high in the future. at least, I hope that many people hold their assets and don't panic because of this.

[yulionoo]

yes i agree with you op we don't need to panic. bitcoin is always like this can go down and up suddenly. keep calm and rest assured bitcoin can pump again. learn from bitcoin price movements in the past. we will see after the decline there will definitely be an increase and vice versa. we just need to be patient and wait. panic will make us make the wrong decision and cause us loss.