Bitcoin's price, and our mental health.
mk4:
It's that time again, where bitcoin(and pretty much almost every other non-stablecoin cryptocurrencies) does a huge nosedive. This is just a reminder that whatever amount you've "lost" with the market crash, in the end, it's just money. Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.
Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.
For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines
Times like today are so reminiscent of the last market crash whereas suicide-related posts and suicide hotlines are popping out on multiple crypto-related subreddits. But yea, this might be cheesy as hell, and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.
Happy trading and investing!
EDIT (July 20th 2021): The entirety of the cryptocurrency markets is going to goblin town again. Just a quick reminder to keep your time preference high. The day I posted this topic(March 13, 2020), bitcoin's price was around $5000. Hodling works, ladies and gentlemen.
Charles-Tim:
Quote from: mk4 on March 13, 2020, 01:36:19 PM
It's that time again, where bitcoin(and pretty much almost every other non-stablecoin cryptocurrencies) does a huge nosedive. This is just a reminder that whatever amount you've "lost" with the market crash, in the end, it's just money. Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.
Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.
For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines
Times like today are so reminiscent of the last market crash whereas suicide-related posts and suicide hotlines are popping out on multiple crypto-related subreddits. But yea, this might be cheesy as hell, and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.
Happy trading and investing!
This is a pleasing and contenting write up. It is the truth. That we lost in long term trade today does not mean the market is nothing to rise again. We should be hopeful and full of positive thoughts now. Like me, I still believe in bitcoin halving. I still believe that this year bitcoin will still be over $10,000 again. Because investors will invest because of some certain reasons. All in my post in the link below.
https://bitcointalk.org/index.php?topic=5232054.msg54008321#msg54008321
I wrote this above thread some days ago, to let people still know that bitcoin and strong altcoins will still rise this year and next year. Do not let us underestimate the anticipatory bitcoin halving effect of whales manipulations and retail investors capital crypto investments.
People are linking the recent fall to corona virus which I believe can directly and indirectly be the cause of the recent drop. But, as bitcoin droppd 6% in January after the spread in China, bitcoin later increase to above $10,500.
So, I do not think corona virus is the only cause of crypto fall and I belive the recent fall can be a preparation to the next bull run in which whales are manipulating and price drop for other investors to sell bitcoin.
Coyster:
Dismay, uncertainty and fear are great 'killers' and can even lead to more loss for an investor after they must have pressed the panic button, it hasn't been too long bitcoin price was at the range value of 3-4k, but the market saw a welcome improvement to around 9-10k, but it all seems like we are back to the nadir once again, but it's not anything to die for, it's unstable and that's certain, it will also go back up and also inevitably also go low again, it's something like a circle we are used to already.
If you want to pull out, do so, but if you want to recover if you are already in a loss, be patient.
anoufal:
My mental health was disrupted by this drop in the price of bitcoin...
Lucius:
Quote from: mk4 on March 13, 2020, 01:36:19 PM
~snip~
There is unrealized and realized profit, as well as loss. The fact is that the price of BTC has lost quite a lot of its value, but the one who has not sold BTC has actually lost nothing. This particularly applies to long term investors, and we know that price of 1 BTC was only $3000 just a year ago.
Of course, the psychological factor should be taken into account, as inexperienced investors find it hard to bear such sharp declines, not realizing that sooner or later, as always, prices will rise. For people who are in crypto market for years, this is just one in series of bad episodes, and for some just one more opportunity to buy more cheap coins.
I see some green on crypto markets today, and despite the fact that it is difficult to predict anything at this point, Bitcoin may surprise us positively in the coming days.
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