Bitcoin's price, and our mental health.

[HardFacts]

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.

This is NOT, NOT, NOT a typical crypto up and down...

Bitcoin only has a history in a BUBBLE economy, where everything has been going up ( never in up in a straight line, but generally up ).   Bitcoin has never been tested in an economic CRASH before.   Now that this test has come, the lie of Bitcoin being a safe haven, or Digital Gold has been exposed.   The CRASH is going to get a lot worse, and BitCoin has a lot further down to go.  

TOTALLY OBVIOUS FACT:   More people are selling than buying.   Any rational person would be VERY WORRIED right now.   I have invested into Bubbles before, and lost a bunch of hard earned money      But I was rational and honest about my stupidity, educated myself, and never made that mistake again.

Hard Facts

[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.

This is NOT, NOT, NOT a typical crypto up and down...

Bitcoin only has a history in a BUBBLE economy, where everything has been going up ( never in up in a straight line, but generally up ).   Bitcoin has never been tested in an economic CRASH before.   Now that this test has come, the lie of Bitcoin being a safe haven, or Digital Gold has been exposed.   The CRASH is going to get a lot worse, and BitCoin has a lot further down to go.  

TOTALLY OBVIOUS FACT:   More people are selling than buying.   Any rational person would be VERY WORRIED right now.   I have invested into Bubbles before, and lost a bunch of hard earned money      But I was rational and honest about my stupidity, educated myself, and never made that mistake again.

Hard Facts

Hmmm, let's see in few weeks and months to come how btc will react to the Situation, btc has experienced several crash in price before separately from the entire economy but always recovers even stronger, and now that both btc and the economy are also witnessing the same crash, btc will also come out even stronger,
More people will still buy back because nothing else out there gives good profit than btc, you and I know that.
And that's a HardFact.

[Chris Barth]

𝗬𝗼𝘂 𝗿𝗲𝗮𝗹𝗹𝘆 𝗱𝗼 𝗵𝗮𝘃𝗲 𝗮 𝗽𝗼𝗶𝗻𝘁. 𝗧𝗵𝗼 𝗜'𝗺 𝗻𝗼𝘁 𝘁𝗵𝗮𝘁 𝗸𝗶𝗻𝗱 𝗼𝗳 𝗽𝗲𝗿𝘀𝗼𝗻 𝘄𝗵𝗼 𝗯𝗲𝗰𝗼𝗺𝗲𝘀 𝘀𝘂𝗰𝗶𝗱𝗮𝗹 𝗻𝗼𝗿 𝗮 𝗵𝘂𝗴𝗲 𝘁𝗿𝗮𝗱𝗲𝗿, 𝗮 𝗹𝗼𝘁 𝗼𝗳 𝗽𝗲𝗼𝗽𝗹𝗲 𝗻𝗲𝗲𝗱 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁. 𝗜 𝗿𝗲𝗺𝗲𝗺𝗯𝗲𝗿 𝘀𝗲𝗲𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗺𝗲𝗺𝗲 (https://imgur.com/a/V9iCOrp) 𝗼𝗻 𝗳𝗮𝗰𝗲𝗯𝗼𝗼𝗸. 𝗗𝗼𝗻'𝘁 𝘄𝗼𝗿𝗿𝘆 𝗳𝗿𝗶𝗲𝗻𝗱𝘀, 𝗯𝗶𝘁𝗰𝗼𝗶𝗻 𝘄𝗼𝗻'𝘁 𝗱𝗶𝗲. 𝗦𝗼𝗼𝗻𝗲𝗿 𝗼𝗿 𝗹𝗮𝘁𝗲𝗿, 𝗶𝘁𝘀 𝗽𝗿𝗶𝗰𝗲 𝘄𝗶𝗹𝗹 𝗴𝗼 𝗯𝗮𝗰𝗸 𝘁𝗼 𝗻𝗼𝗿𝗺𝗮𝗹 𝗮𝗻𝗱 𝗺𝗮𝘆𝗯𝗲 𝗮𝗯𝗼𝘃𝗲. 𝗜𝗳 𝗶 𝗵𝗮𝗱 𝘁𝗵𝗲 𝗺𝗼𝗻𝗲𝘆, 𝗶 𝘄𝗼𝘂𝗹𝗱 𝗲𝘃𝗲𝗻 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗻𝗼𝘄 𝘁𝗼 𝗯𝗲 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗯𝘂𝘆 (𝗗𝗢𝗡𝗧 𝗧𝗔𝗞𝗘 𝗧𝗛𝗜𝗦 𝗔𝗦 𝗔 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗔𝗗𝗩𝗜𝗖𝗘). 𝗘𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝘀𝗵𝗼𝘂𝗹𝗱 𝗷𝘂𝘀𝘁 𝗯𝗲 𝗰𝗮𝗹𝗺, 𝘁𝗵𝗶𝘀 𝗽𝗹𝗮𝗻𝗲 𝘄𝗶𝗹𝗹 𝗻𝗼𝘁 𝗰𝗿𝗮𝘀𝗵.

[Sanugarid]

As we enter investing on bitcoin, it is a must that we should set ourselves ready for any possible outcome. Whether it will be good or bad, let us always put in mind that what we entered is a risky business and you cannot always win. There will always be time where you'll lose large amounty of money which you can gain back as you hold your coin patiently. There's always hope amidst all the bad things occuring in the market at the moment. Don't let all these negative occurence conclude your future cause anything is possible and there will always be changes happening as time passes by. Take care of your investment but pay attention to your mental health also.

[coolcoinz]

Even at the saddest moment of my life, I have never thought about that.

Sins matter only to those who believe in gods.

I don't feel bad about the crash. It's not some good news, I get it, but I got mu BTC for a few hundred dollars. If it ever goes down below 700 I'll feel like I've lost some money, but I still won't sell. Long time ago I thought about my involvement in BTC and got to a conclusion that I will never give it away for less than 10k USD. Even 10k seems cheap but if I ever really need money, I'll sell some. I sold about 0.2 BTC this year to have some fun with my profits but I still have 90% of all my money in Bitcoin and I intend to keep it this way.

[Artemis3]

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!

You do not lose anything unless you panic sell. If it is your own money, all you have to do is wait for the crisis to be over, i'm sure things will eventually return to normal (for bitcoin anyway).

Margin trading in another matter entirely, but people not using margin have nothing to worry. A good margin trader knows to set up stop loss and such things.

From 7.5k to 10k and back to 5k. Nothing to worry, it'll go back up eventually. Worry more about surviving the pandemy.

[Spaffin]

I think that cryptocurrency users, after what happened in 2016, 2017 and 2018, already realized that you can’t make an unreasonable decision and risk all available means in the cryptocurrency market.  Cryptocurrency is primarily a big risk, and only then the opportunity to earn big money.  Here you need to use good experience and professionalism to get a good income.  Of course, I constantly come across the same advice when users are advised to invest all their capital because a very good time is coming for a profitable deal that will make the investor rich.  The always negative consequences of our actions affect our psychological state, especially when we are deceived by bad advice.

I don't think they've learned much.

I'm talking mostly about newbies and those who've put their money in BTC and never cared about it again until the dump. People are placing money in crypto hoping to get a fortune out of it in no time.

If I ask any of my friends (those who have never owned/cared about or BTC or cryptos in their lives) what their opinion on BTC is, it's either "I know you can make a lot of money out of it" or "it's used by criminals". That explains it all for me. These are the same guys OP is now referring to. The weaker hands or the believers in ideal price changes.

Of course, I agree with you, because you are really right.  Few people pay attention to their mistakes and show a desire to continue to risk their last money in the hope of getting a quick and big cash.  I also have friends who are ready to take loans from banks in order to invest in the cryptocurrency, because they read too bright forecasts about the cryptocurrency market in the near future.  This is also happening today, in anticipation of the next halving.  But regarding the use of cryptocurrency by criminals in their activities, this fact really lays a heavy burden on the cryptocurrency market and its users, which makes it difficult to popularize cryptocurrency in society.  Most people “want” to hear bad things and pay little attention to information about the real value of cryptocurrency for society.

[Latviand]

It can really create a stress in the minds of people especially investors, seeing how huge the dip is recently. But to somewhat lessen your worries, keep in mind that you still have the same amount of Bitcoin, and it is just the market price which is falling. What's the point? It simply tells us that the opportunity to regain the loss, and if ever, earn profit someday is still existing. We, as investors and holders, just have to be patient in order to be able to wait for that time again that the market value will reach its all time high. We should also look at this situation as a good time to invest , if you are really into cryptos. Just remember the previous drawbacks in its market price. The price will surely rise once again and the only problem we should see, is the time we will spend, waiting for that day to come.

The disadvantage of this situation will be felt by those people who made cryptoinvestment their primary souce of income, which should not be done by anyone. Bitcoin's market value is way unpredictable due to its nature of volatility, and that is enough to say that the profit from investing will not be consistent, contrasting the requirement for a primary source of income. It should just be looked at as a secondary source of income even if profit is huge whenever its price is increasing.

[gundala]

As we enter investing on bitcoin, it is a must that we should set ourselves ready for any possible outcome. Whether it will be good or bad, let us always put in mind that what we entered is a risky business and you cannot always win. There will always be time where you'll lose large amounty of money which you can gain back as you hold your coin patiently. There's always hope amidst all the bad things occuring in the market at the moment. Don't let all these negative occurence conclude your future cause anything is possible and there will always be changes happening as time passes by. Take care of your investment but pay attention to your mental health also.

That is the importance of preparation in facing the worst situation. When we only think of profits, investing or trading without a strategy, it will bring huge losses. When we ignore the principle of never investing money that you can't afford to lose, be prepared to deal with stress attacks when expectations don't match reality, lose everything. Do not let it happen, prepare mentally, it's better.

[MCobian]

It is true that what happened with the drastic decline in the price of bitcoin made some people stressed and experienced mental health.
This has become an important issue, which must be immediately sought a solution. Because it is dangerous if this condition is left, in my
opinion better before investing, especially newbie must be educated in advance about the risks of investing in cryptocurrency. So when
market conditions are bad like this, investors are better prepared mentally to get through this bad condition.

[Meowth05]

This is a pressing matter, if you are depressed or feeling bad about the plummet of the current market, need not worry for things will hopefully turn to good things. Being depressed because your current portfolio is downed then just have a little hope. You can't afford to lose yourself amidst the crisis, financial stability is important but mental stability is the first priority. Take care of yourself, unwind, read a book, watch a movie, bond with your family or pet.

[HardFacts]

You do not lose anything unless you panic sell. If it is your own money, all you have to do is wait for the crisis to be over, i'm sure things will eventually return to normal (for bitcoin anyway).

YOU LOSE YOU MONEY IF YOU DO NOT SELL !!!!

What a " feel good " but false emotional statement Artemis3 makes.   A good, rational investor knows when to take money OFF the table, lacking this skill can result in getting totally wiped out.   NORMAL does not exist anymore, the world you knew is OVER.   Welcome to the great depression, the last one lasted well over 10 years.   I am sure many people will need their money, rather than just lose it all.

I am also sure there are many that were laughing at me last week, that are a little worried now.   I see it in the responses, less ridicule and a little more thought by a lot of people here.

Hard Facts

[DooMAD]

I am also sure there are many that were laughing at me last week, that are a little worried now.   I see it in the responses, less ridicule and a little more thought by a lot of people here.

You are an opportunist blowhard capitalising on unusual circumstances to push your anti-Bitcoin agenda.  People should absolutely still be ridiculing you.

[philipma1957]

You do not lose anything unless you panic sell. If it is your own money, all you have to do is wait for the crisis to be over, i'm sure things will eventually return to normal (for bitcoin anyway).

YOU LOSE YOU MONEY IF YOU DO NOT SELL !!!!

What a " feel good " but false emotional statement Artemis3 makes.   A good, rational investor knows when to take money OFF the table, lacking this skill can result in getting totally wiped out.   NORMAL does not exist anymore, the world you knew is OVER.   Welcome to the great depression, the last one lasted well over 10 years.   I am sure many people will need their money, rather than just lose it all.

I am also sure there are many that were laughing at me last week, that are a little worried now.   I see it in the responses, less ridicule and a little more thought by a lot of people here.

Hard Facts

I have zero fear this will rebound.
I can see you have zero fear of a rebound.
You call the rebound will take ten years.
You could be correct.

I can handle a long down time as I take profits to help insure against this type of crash.

As for those that never took a profit and just mined and hodl they will be hurting.

So the crash you called for has happened.
You did miss one one thing all stores of wealth crashed.

Right now.
water filters
air filters
bottled water
canned food
hand sanitizing liquids
 
are more valuable then they were two weeks ago.

So your advice was only partially correct.

Gold dropped
silver dropped
stocks dropped
oil dropped

So rather then being gleeful about your clever predictions you should be apologizing for the ones you missed.

[HardFacts]

I have zero fear this will rebound.
I can see you have zero fear of a rebound.
You call the rebound will take ten years.
You could be correct.


Gold dropped
silver dropped
stocks dropped
oil dropped

So rather then being gleeful about your clever predictions you should be apologizing for the ones you missed.

NO I DO NOT CALL FOR A BITCOIN REBOUND...  BitCion will go to near zero and stay there, BitCoin's only value is what some greater fool is willing to pay for it, it is nothing but air, zero intrinsic value.

I AM TOTALLY RIGHT:  You can not buy REAL COINS, but you can easily sell your bitcoin for 1/2 price     Just go and try to buy REAL COINS, and see how much you have to pay.  No one cares about the paper price, the real thing will now cost you MUCH more if you can find it.

Hard Facts

[mk4]

NO I DO NOT CALL FOR A BITCOIN REBOUND...  BitCion will go to near zero and stay there, BitCoin's only value is what some greater fool is willing to pay for it, it is nothing but air, zero intrinsic value.

I AM TOTALLY RIGHT:  You can not buy REAL COINS, but you can easily sell your bitcoin for 1/2 price     Just go and try to buy REAL COINS, and see how much you have to pay.  No one cares about the paper price, the real thing will now cost you MUCH more if you can find it.

Hard Facts

It's funny how you actually named your account "HardFacts" in an attempt to be sort of "woke".

You're going to be the future version of this guy:

[20kevin20]

NO I DO NOT CALL FOR A BITCOIN REBOUND...  BitCion will go to near zero and stay there, BitCoin's only value is what some greater fool is willing to pay for it, it is nothing but air, zero intrinsic value.

I AM TOTALLY RIGHT:  You can not buy REAL COINS, but you can easily sell your bitcoin for 1/2 price     Just go and try to buy REAL COINS, and see how much you have to pay.  No one cares about the paper price, the real thing will now cost you MUCH more if you can find it.

Hard Facts

I don't get why you're wasting your time on this forum if the only thing you're doing is spreading FUD? I'm going to be that "fool" willing to pay even a million dollar for a BTC once it reaches that price. These "fools" will pop up every time Bitcoin gets more scarce and its holders will not be willing to sell it for cheap prices.

Take a screenshot of this page and PM me 5-10 years later. Let's see who wins the argument.

[HardFacts]

I don't get why you're wasting your time on this forum if the only thing you're doing is spreading FUD? I'm going to be that "fool" willing to pay even a million dollar for a BTC once it reaches that price. These "fools" will pop up every time Bitcoin gets more scarce and its holders will not be willing to sell it for cheap prices.

Take a screenshot of this page and PM me 5-10 years later. Let's see who wins the argument.

Any investor who wants to be in an echo chamber of positive, self reinforcing news is not an investor, he is a FOOL.    That is how CULTS brainwash people in the face of overwhelming evidence of their group dilusion.  This would not be a forum anymore, it would just be a BitCoin advertisement, nothing more.

Agree with me or not, any rational person would look at all risks and possibilities and make his best educated investment decision.

Hard Facts

[20kevin20]

Any investor who wants to be in an echo chamber of positive, self reinforcing news is not an investor, he is a FOOL.    That is how CULTS brainwash people in the face of overwhelming evidence of their group dilusion.  This would not be a forum anymore, it would just be a BitCoin advertisement, nothing more.

Agree with me or not, any rational person would look at all risks and possibilities and make his best educated investment decision.

Hard Facts

I'm more of a BTC believer than an investor. The only chamber I'm sitting in is the chamber of belief in a future of cryptocurrencies. I cannot say Bitcoin is going to 0 if I simply do not believe it ever will. That is equal to forcing me to believe something I don't think is going to happen.

You're free to believe whatever you like, but is spreading around your idea that BTC is going to shit the best thing you can do in life? I've been here for years. Few more years and it's gonna be a decade since I started believing in cryptocurrencies. I have supported them ever since and will support & buy them even if BTC gets to a million dollars. That's my point. The freedom of choice & speech does not mean enforcing in someone's brain the idea that something is going to be worth nothing in a matter of time. That's why I always mention "I think" and "I believe" before sharing my thoughts. Bitcoin is a risk. Precious metals, stocks, fiat, real estate, anything is a risk and any investor/believer will assume it. Welcome to risk assessment.

Moreover, getting back to the topic, how are your "BITCOIN IS SHIT BITCOIN IS GOING TO ZERO FUCK IT YOURE GOING TO LOSE ALL YOUR MONEY IM ALWAYS RIGHT" posts helping those out here who are in a very bad financial AND mental health position due to the downfall of cryptocurrencies?

~
I AM TOTALLY RIGHT:  You can not buy REAL COINS, but you can easily sell your bitcoin for 1/2 price 
~

Someone who bought $40k worth of silver coins in March 2011 can now sell them for only $12k. And that's real material and is also a damn $28k loss. Almost 1/4 of what they paid. What's your point?

[coinfinger]

The most important that anyone that’s starting to invest in Bitcoin has to know is that Bitcoin is volatile and there is a high risk, you can even lose more than 50% of your money if you’re not careful. So, you’ve got to be careful.And also if you’re teaching people about cryptocurrency, you should as well let them know that there are risks involved; some people are fond of making others believe that Bitcoin is a means to make quick money and the solution to their problems.

People really needs to stop all these and teach them the right way, so that they will understand. If you keep making they feel that Bitcoin will double their money and make them rich, they will invest all their money to double it and then end up losing it.