Bitcoin's price, and our mental health.

[adzino]

That's stupid decision someone could ever take. It's true that it's a hell lot of depression when you see your portfolio has decreased to half of the total within 1 day but that must never be ended with ruining the beautiful life.
I have seen my alt investment to lose 90% too. I don't care. Everyone should have a life outside this.

So you jump to a conclusion saying its a "stupid" decision? You don't even know that person or what he is going through. The amount of money that person has lost might be nothing to you but it might be a lot for him. You don't care probably because it won't be affecting you as much as it would have affected the person who killed himself. The person who committed suicide probably had no other options. Probably he was in such a situation where he thought giving up his own life would be better than suffering.
I am not supporting suicide, but just don't call a persons decision to take life "stupid" without knowing what the person was going through.

[CaVO32]

Only the strong in heart and they that have been around enough can relate with what is happening and laugh over it by turning it into a comic meme rather than get some psychological trauma about what is certain to happen. I agree it's just money and only the living make money and spend it, at the end the dark days will be past.

but what the OP presented is really true. there are people who are into crypto right now that are losing a huge chunk of money and if they loaned their investments, that's the real problem. have you read threads here someone cursing bitcoin or stating that they will never again invest on crypto? I guess those type of people are the ones who has the tendency to harm themselves. mental health is indeed something to be look at here. this is the reality having crypto in your life. just the emotions that you will experienced here is tremendous, so one should know how to handle himself in this market.

[jumail]

Health and mental health also need to be taken care of, don't just focus on money and profits, it will make your time wasted. Just enjoy this life as best you can, try your best, and appreciate everything you get, be grateful and don't be greedy. I strongly agree with the OP, if you lose money then you can look for more, if the stress is excessive and can cause bad thoughts such as suicide and other bad things, you should immediately find friends or family to tell stories, relieve suffering. Don't think the world will end if you lose and lose, make it a lesson and learn more effective strategies. Always understand the risks.

[pixie85]

This situation with bitcoin doesn't depress me in the least.  I am a bit disappointed that I've been caught short of cash to buy it with, but I'm over it.  

I'm disappointed that despite a growing number of exchanges the total liquidity of the market did not increase.

We were used to flash crashes in 2013 and 14 when the market was mainly Gox, then Bitstamp, Btce and a few other exchanges. One could think with more BTC on the market, more investors, exchanges like Bitfinex and Coinbase, this should not happen, but no, exchanges are still the weak point of cryptocurrencies. They introduced leveraged trading and now every small move can be multiplied and followed by an avalanche of overleveraged trades.

Not much has changed over the years.

[gentlemand]

I'm disappointed that despite a growing number of exchanges the total liquidity of the market did not increase.

For that to happen we need to get beyond the boom/bust phase to something that at least hums reasonably along all the time. I guess that requires actual usage to underpin that rather than pure betting. And things have been quiet for a long, long time. That doesn't help the robustness when it suddenly explodes into life, or rather death in this case.

[20kevin20]

We've seen some proper OGs go a bit batty with this dump. I guess it shat on a lot of expectations that were building up over a lengthy period of time. Every single day is writing fresh history. People drawing on what has already occurred might be in for a rude shock.

I'm looking to the end of 2021 before deciding what to do and where it might head. What's going on at present is (very loud) noise.

Couldn't agree more. I'm taking a break from cryptocurrency-related moves for a long time too; I believe this is a time to observe - not to take action. But the long term plan of mine is still there. Still alive. I can honestly say that even a dump to $100 would not get me surprised at all - I'd rather be happier that getting 1 BTC would be way more accessible.

[vintages]

Undoubtedly, a lot of negative things have been happening lately and the price dump of Bitcoin just made it worst for some people.
It's just a reminder that life is not a bed of roses and shit suddenly happens. But at the same time, its a phase and won't last long.

Most especially, we hope that many of us used the  popular advise on this forum of "never 100% depend on Bitcoin as daily income" and "never borrow to invest on Bitcoin". They are not just mere words.

Nevertheless, hold your coin, don't rush sell, the phase will be over soon.

[joniboini]

Most especially, we hope that many of us used the  popular advise on this forum of "never 100% depend on Bitcoin as daily income" and "never borrow to invest on Bitcoin". They are not just mere words.

Some cases around me are about people taking a loan or selling their life-savings to jump on the Bitcoin bandwagon, and when a nosedive happens, the sad story continues. So, don't sell your life-savings is also a good word to remember.

Thankfully, there is no suicide-related news so far. Let's hope people already learn and instead of living in anxiety, embrace this as an opportunity to get more bitcoin with less fiat money,

[camito]

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!

The pandemic we are in at the present is affecting lots of different aspects in our life. This includes the crypto world. Actually, there might be other causes for this temporary downfall but of course, the non-stable currencies are much affected by the current COVID-19. We can say that it hasn't been affecting us because we can do it online or at home, but in reality, the fear and panic it's been causing even to investors and traders conrtibuted much.

There are certain mentalities that are occurring because of the decline, but Bitcoin users must always be reminded that there are uncertain things in this world - and money is not an exception. Though we had invested much of our time and effort in Bitcoin or other cryptocurrencies, at times like these we musn't think negatively, rather be critical thinkers on how "you" and "we" can survive this crisis. It's not the end of the world, and surely, other Bitcoin and crypto events can occur that would cause the rise and demand of Bitcoin. Many have been in this industry for so long, and this is just another problem that we would soon overcome.

[joinfree]

My mental health was disrupted by this drop in the price of bitcoin...

It's normal for a crypto noob like you to get a bit upset about the recent dump in the price of bitcoin but I want to encourage you that this is not the end of crypto and would never be. We have seen worst years before and this would never be the end too. Instead of worrying so much at the price right now, I would advise that this is the best of times to invest and make enough profits when the price increases.

[Anonylz]

Thanks for the reminder this is very necessary at this very difficult times, lots of people will be disappointed and devastated with this sudden crash, but in the midst of all this, we shouldn't lose our mind over it, it is money and can be recovered same way it was lost, all that is required is maintain a level head and exercise patient,
As soon as market recovers everything will go back to normal, if you don't panic sell, it will be fine.

[KrisAlex18]

Do not worry about the price of bitcoin mate because it is really normal thing about different cryptocurrency, it changes its price each and everyday, especially with what we are facing right now. COVID-19 really affects the price of bitcoin, that is why the price of bitcoin reaches for about 3,900 Dollars. If you are worry about your investments with the price of bitcoin, then you shouldn't be like that because you cannot lose money in investment, you may still hold your money if the price of the bitcoin is low then withdraw it if the price of the bitcoin turns back again.

Do not make the bitcoin affects your mental health, you will be like a typical beginner if you do so. Keep calm, don't worry and think for the things you may do to prevent losing your money.

[davis196]

I got a little bit nervous after I saw the recent price crash.My anxiety is still high,but there's no room for depression and suicidal thoughts.Committing suicide,just because the Bitcoin price has gone down seems like a really stupid idea to me.I mean,you know that the Bitcoin price will recover next year,right?It's not the end of the world and coronavirus is not a zombi apocalypse.Calm down and practice meditation.
Now it's time to see who the real Bitcoin HODLers and supporters are.

[The Cryptovator]

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.

No, I never thought about due to market crash. I had lost approx 90% of my portfolio in back 2017 bull run when invested on some alt coins. I just wait for patience and recovered all of them by trading. But later on in bear market my total portfolio dump again and still not yet recovered. Fortunately suicidal thoughts still never came on my mind not it will come. Value of life more than money, if I alive I have confidence that I will recover my fund once again. So whoever's do not have enough patience they shouldn't enter on crypto market, otherwise they would broken.

[xvids]

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!

True it is just money our life is much more important specially for those who are around us.
Those money could be gained again but the time that you could spend with your family and friends would never be replaced.
Suicide isn't an option we need to work hard in order to replace what has been lost.

[Twentyonepaylots]

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.

No, I never thought about due to market crash. I had lost approx 90% of my portfolio in back 2017 bull run when invested on some alt coins. I just wait for patience and recovered all of them by trading. But later on in bear market my total portfolio dump again and still not yet recovered. Fortunately suicidal thoughts still never came on my mind not it will come. Value of life more than money, if I alive I have confidence that I will recover my fund once again. So whoever's do not have enough patience they shouldn't enter on crypto market, otherwise they would broken.

This basically means that the thoughts of suicide or in general mental issues about a certain matter really depends on the person not on what they are doing. This also basically implies the fundamentals and characteristics of a good trader. I, sometimes feel bad for the mistake I've committed but the thing is I can move on easily, to be a trader is to be a critical thinker, you don't need to put yourself in locked after the door closes.

[Reid]

Even at the saddest moment of my life, I have never thought about that.
It is the greatest sin of all.
You have been given a life. Better take care of it.
Up until now giving birth is still a miracle for me. I cannot just explain how you can make life out of liquids from your body.  

But yeah!, there are those who cannot swallow all the loss. They would be better to look for help.
Me? I take this as an opportunity. Well it does every time the bitcoin price goes down.

My Ethereum investments are also back to how much I bought it.  

[kryptqnick]

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!

I think that what makes this situation more difficult is the environment of the crash. Back in 2018, the crypto market was hit very hard, but people weren't limited in their rights, did not hear all the time about the pandemic, the stock market was doing okay and the world economy was functioning properly. This time almost everyone is getting negatively affected, Bitcoin is just a small part of it. Honestly, with everything that's going on I actually still think that holding money in BTC is a better idea than selling it for, say, fiat, because who knows whether the fiat we tend to consider stable is not going to explode (I'm talking about the risk of hyperinflation).

[nicecrypto]

It is certainly a tough nut to swallow, watching your investment melting down is never an easy thing to see but if you are already familiar with crypto ups and downs,  this shouldn't affect us so much to the point of doing something irrational,
I can only imagine this will affect newbies to crypto alot, they need to understand it is temporary and not permanent, we should be strong throughout this period.

[AniviaBtc]

For the suicide hotline for the country you're in<snip>

Jesus, I hope it's not as bad as all that for most people.  I totally agree: money is just money, and as much as I respect it and acknowledge its importance, it doesn't rule my life.  Nor does bitcoin; nor am I overinvested in bitcoin.  That last point is important, because I have a feeling that a lot of folks who invest in crypto do so with money they really can't afford to lose--and look at all these exchanges that are offering 100x leverage or similar.  Investors who bought bitcoin or altcoins on margin before about two days ago must have gotten slaughtered.

This situation with bitcoin doesn't depress me in the least.  I am a bit disappointed that I've been caught short of cash to buy it with, but I'm over it. 

By the way, this is one great example of why bitcoin makes for a poor form of money.  If you're a bitcoiner who likes to spend bitcoin on stuff....you just lost a hell of a lot of purchasing power.  Don't flame me for that opinion, please.  I've expressed it before, and I'm sticking to it.

Don't you ever think that it is the end of the world just because the bitcoin's price strikes a downward movement. Never do something that you will regret for because there's always hope for a better future. For sure that downfall is just temporary and all of the holders are hoping for that to happen. I know that it is normal to become stress about that but you should control your emotion and become strong. There's no reason for you to stop and think of the things that will affect your life. You need to be patient and stable just by thinking of your next move and next strategies for more transactions. After you suffer emotionally, just learn to move on.