Are we going to see another PANIC

[criza]

In these last days of March, we have seen a gradual recovery in the standing of Bitcoin, I could tell that, if the gradual increase in the price of Bitcoin continues in the coming days, we could expect the price of Bitcoin to make a comeback at the $8,000 value because, the price of Bitcoin decreases and increases in such short amount of time; from a time span of only 3 weeks, we have seen its value goes down to $3,500 value then goes up in its current price in $6,500+.

We could expect that the number of panic sellers will lessen as the time of halving event comes closer.

[Free1bitco.in]

however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

No, I beg to disagree, regardless of the price, panic is evident when there is a major dump, like what we recently witness which bitcoin fell 50%.

good for you if you don't panic. but, to be honest, I would panic when I saw the price of bitcoin, currently at $ 6k, suddenly dropped to $ 3k or lowes, because it was the first time that bitcoin prices touched this year. other than that, the conditions will be halving soon, so if it doesn't help, I think I'll panic. in fact, I think people who hold bitcoin will panic seeing that.

[TheGreatPython]

I suppose the panic is over isn't it?
I mean there are levels of panic and that is true but honestly do you really think that it could get any worse?

I was assuming that the world caught up on the dangers of corona and everyone is reacting accordingly, sure there are still idiots out there all the time that doesn't do anything about corona and they are walking like nothing will happen to them and then they will end up dying anyway so that is basically Darwinism at its best.

Long story short I do not believe it will go on like this for years, obviously it should be ending in couple of months, maybe not go away 100% because none of them ever does, but in the end we will see it become something natural and easy to get better about, look at influenza, it killed millions but now its common flu.

[ChiNgadOr]

I suppose the panic is over isn't it?
I mean there are levels of panic and that is true but honestly do you really think that it could get any worse?

I was assuming that the world caught up on the dangers of corona and everyone is reacting accordingly, sure there are still idiots out there all the time that doesn't do anything about corona and they are walking like nothing will happen to them and then they will end up dying anyway so that is basically Darwinism at its best.

Long story short I do not believe it will go on like this for years, obviously it should be ending in couple of months, maybe not go away 100% because none of them ever does, but in the end we will see it become something natural and easy to get better about, look at influenza, it killed millions but now its common flu.

YES; it can and will be worse

quarantine and total lock down of more countries, markets closeds, industries stopped, scarcity and food and other basic goods, .. was BTC a safe haven 1 week ago when markets dumped? NO.. will it be later, of course not.. people will need cash to purchase, no one will care about crypto and therefore it will plunge. Meanwhile, these guys with tons of BTC will try to convince you that btc is digital gold.. don't believe my word, just wait to see what happens next

https://www.worldometers.info/coronavirus/

[Salamstar]

During last week's trading, cryptocurrency investors have been very disappointed with bitcoin over the past few weeks, as faded price movements seem to negate the safe haven narration that many investors previously adopted. Despite the recent decline in bitcoin prices and the crypto market as a whole, the global economy has not seen anything like what has been happening now since World War II.

[Salamstar]

Currently, the global economy is in full shock. Nearly all asset classes, stocks, bonds, gold, and oil have come under pressure, as Bitcoin has experienced a sell-off which has led to a 48% drop in the price of Bitcoin which came quickly. But despite that, I think Bitcoin is facing the fuel of this crisis, and it will come out of it safely.

[wozzek23]

It will take a lot to see another panic, we have seen bitcoin price go below 4k and jump back, that gave people some sort of confidence in bitcoin, it made people realize that whales will not let it go down under 4k that easily, it will take a lot to make it go down that much, that is why we are seeing all of this going up right now, people realized that it won't go down too much so they are more brave about buying, they think the worst thing that could happen is they will wait a bit but will get that profit no matter what, that is why there is so many tries above 6k in the past 10 days.

Long story short we are not seeing any more panic, could it happen? Sure. But at the same time it is quite improbable to happen and that is why I am saying so clearly that it will not happen.

[KTChampions]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

[whyrqa]

One way or another, if people react frivolously to this problem, which is generated worldwide by the coronavirus, then we will correct the consequences of all the problems for many years to come.  Today, each person depends on maintaining calm in every country, as well as reducing the spread of the virus, which will lead to a pandemic blocking and to a quick recovery of the economy of each country.  The better we take care of ourselves and others, the better and faster we will cope with all problems.  Panic will always occur if bad news always sounds, but we must be guided by common sense and blindly follow the rules.

[Yamifoud]

One way or another, if people react frivolously to this problem, which is generated worldwide by the coronavirus, then we will correct the consequences of all the problems for many years to come.  Today, each person depends on maintaining calm in every country, as well as reducing the spread of the virus, which will lead to a pandemic blocking and to a quick recovery of the economy of each country.  The better we take care of ourselves and others, the better and faster we will cope with all problems.  Panic will always occur if bad news always sounds, but we must be guided by common sense and blindly follow the rules.

that is supposedly we gonna do but somehow and still more people don't understand the situation and those weak hands will probably sell their cryptos any time. Nothing to rely on that everyone will hold and keep their cryptos instead. But gladly we have noticed that the market started to improve and maybe panic sellers have done already. But of course, this damages won't be healed instantly and this probably takes months or a year before we fully recover.

We only not talking about crypto but this is a global market issue and if this resolve, everything will be back to normal.

[shoreno]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

[Twinkledoe]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

In crypto, better store your portfolio in your own wallets not in exchanges. Even reputable and famous ones have the vulnerability to attacks. And since we are in the unfortunate situation, many hackers will try their best to penetrate these exchanges. So better transfer your crypto in safe places.

[adaseb]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

The issue with banks is that even though your money is insured by the government, if there is a time when people are panicking and wanting cash, you might run into issues like some people did last week.

They started to limit withdraws and then they ran out of funds and couldn't process any more withdraws. So there is always that risk. As long as you wait until the dust settles, you will get your funds but it might be too late.

[Free1bitco.in]

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

I suspect that inflation will occur. in some countries, it has been said that Fiat is currently circulating more because many people withdraw their assets from the internet, and from other investments. that might be something that KTChampions are worried about. it's just that, I think that maybe having some investment on the internet would be much better. we know that lockdown has begun to occur in several countries, it will encourage them to work from home and make profits from businesses that are on the internet. it could be their chance to use crypto. it's just that, I also assume that this may not make people panic. So far, I am still quite calm, because the price of bitcoin is still recovering the price, in fact, I assume that the price will soon reach $ 7k.

[amishmanish]

I suppose the panic is over isn't it?
I mean there are levels of panic and that is true but honestly do you really think that it could get any worse?

I was assuming that the world caught up on the dangers of corona and everyone is reacting accordingly, sure there are still idiots out there all the time that doesn't do anything about corona and they are walking like nothing will happen to them and then they will end up dying anyway so that is basically Darwinism at its best.

Long story short I do not believe it will go on like this for years, obviously it should be ending in couple of months, maybe not go away 100% because none of them ever does, but in the end we will see it become something natural and easy to get better about, look at influenza, it killed millions but now its common flu.

YES; it can and will be worse

quarantine and total lock down of more countries, markets closeds, industries stopped, scarcity and food and other basic goods, .. was BTC a safe haven 1 week ago when markets dumped? NO.. will it be later, of course not.. people will need cash to purchase, no one will care about crypto and therefore it will plunge. Meanwhile, these guys with tons of BTC will try to convince you that btc is digital gold.. don't believe my word, just wait to see what happens next

There are a lot of assumptions in these statements. You are ignoring the ability of people to rally once they realize a common danger. Sure there are fools initially who will flout the norms coz the concept of YOLO and  "Mah Life, Ma Rulz" have gone into their heads too deep. These people will be taken care of soon enough. In India, well its already happening..
Police dealing with people stepping out during lockdown

So people need to clear their headspace and realize this is not about their fucking "rights".

Next up, you guys say that "people will run for cash" as if this is world war and everything will be gone. Calm down. The logistics and supply chains for necessary goods can still function. Sure, people would like to have cash at hand but this is no apocalypse and people will not cash out every investment just because they need to buy flour or medication the next day. As long as people stay home, this is not going to be a run on the banks. Also, if people are willing to dump BTC and sell off then a lot of us would be willing to lap them up at any rate.

[mindrust]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

Banks might collapse very well. You money is not completely safe with banks.
https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis

These are unpredictable times. You should definitely get some physical cash&gold and crypto (it is volatile but it might come in handy for various situations)

[fabiorem]

Why exactly 5,700? Is this some kind of special level? It seems to me that even a level of $ 5,000 is comfortable. A real panic will begin when a level of 3,000 dollars is broken. Plus, a lot depends on the situation on the stock market - if the SP500 is in the region of 1,500 points, then the level of $ 3,000 will be very good for bitcoin.

Well, he would panic seeing the price below that, it seems like it's a level he made himself. however, a while ago, the price of bitcoin was in the range of $ 4k, and the price rose slowly to near $ 7k. so, it seems like it's an individual panic.
however, panic will really occur if the price approaches the price of $ 3k, or is below it. Well, to avoid this, I might mark the price of $ 4k before selling the asset.

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

Banks might collapse very well. You money is not completely safe with banks.
https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis

These are unpredictable times. You should definitely get some physical cash&gold and crypto (it is volatile but it might come in handy for various situations)

Banks are benefiting from this staged crisis. Every time the government prints money, banks benefit from the upcoming inflation, as people tend to stock more money in the bank and spend less due to it. The dollar will eventually collapse, but there is talk about a crypto-dollar which will come to replace it, together with universal income (a way to blackmail people after they lose their jobs, due to "social distancing"). They researched the blockchain and will use it for ID tagging and create money out of thin air (I doubt they will use PoW, much likely to use PoS). I dont know if this system will benefit bitcoin or not, since bitcoin crashed together with the stock market, so it might be purged alongside paper dollar. It is possible small banks will collapse, and bigger ones will go full-digital in the new system.

[STT]

Its not staged, people are really dying.  Thats the next step in any panic, the reality of deaths distributed across multiple populations of the world.     Any really big move, either a panic to downside or the parabolic curve of a market that has doubled or more comes with a bull whip effect.   The fastest and most volatile stage to the move is in the tail end, the cumulative cycle of the event results in volume selling that should peak in the turning point.
  Possibly we've seen that, as cash sees QE it may help Bitcoin to be a more certain standard of exchange but also possible people still sell out of crypto to buy real goods due to the drastic alteration of the economy for people.  

   So what I take from that is short term we can see selling exceed buying which means price weakness, its not absolute reason to be negative on Bitcoin but people do need real world goods and even at best BTC is the exchange of virtual security so in that contrast we can see weakness still imo.

[KTChampions]

I assume that the next wave of panic again will be caused by events outside the world of crypto. Therefore, any levels that seem logical to us will not work. I think that now we must try to hedge all our risks and withdraw money from exchanges and banks.

why withdrew your money on banks ? banks dont collaps afaik but banks might only go offline for a while but we must not worry because our money is still safe but you should withdrew as long as you need funds  .

During the crisis, banks are the first candidates for bankruptcy. Even if your money does not disappear, you may lose operational control over it - the government likes to introduce various kinds of restrictions during crises.

on crypto exchanges its risky so we should practice withdrewing frequently even not on panic times or when times like this that we are facing a huge issue outside the crypto world  but as long you understand the risk in crypto , there is no need to panic just because everyone else panicking   .

I agree with this, but still, during global events, the risks increase significantly.

[jhonjhon]

Things like this won't be out, it for sure there are still a lot of people who will sell their Bitcoin at any time.
But forget about these people, they don't know what they doing. Only they think about saving their own (but not actually it works) and not helping the market to recover. Moreover, there is something we can't do about them and they are just passing investors and in the future, they're still be quitting in crypto.