Bitcoin's price, and our mental health.

[samcrypto]

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

Well, he said about the panicking so I guess when the investors are mentally ill, they will panic and sell at a loss. Some investors are not feeling good every time bitcoin is dump, so maybe most of them sell their bitcoin and that affects the price. OP is right, we only one lives to use for so better not to worry that much with bitcoin because it will bounce back again in time and you will not regret for holding bitcoin.

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[Sadlife]

This is true many people have invested their mortgage and savings with a high price. Even for me with the unexpected flash crash i've really lost quite a lot, im also put my savings in buying BTC and ETH. But compared to others that are heavily invested to it they must be in extreme depression right now. I hope they realized that the market will eventually recover just stay positive.

[HardFacts]

To consider bitcoin from the start not as speculative asset, but as the base in future monetary system might help you to overcome some obstacles.

Every fall becomes an opportunity to buy more and you're always glad to receive desired asset. Every rise becomes a sign of new wave of adoption thus hopes about new monetary system become less naive and you're glad once again. Mental health is fine and will be so.

BITCOIN AS MONEY HAS ALREADY FAILED   How utterly delusional can you be ?   BitCion was first supposed to be a replacement for money, to use in ordinary transactions.   When that did not work, BitCoin was recently pumped at " Digital Gold " a safe haven asset, that has also FAILED...

So you want to consider BitCoin as something it has totally and utterly FAILED at ?

You will be one of the dumb investors that will richly deserve to lose your money.   And there is nothing worse for " Mental Health " than a Cult like believer, that has been punched in the face and forced to accept reality  

Hard Facts

[HardFacts]

This is true many people have invested their mortgage and savings with a high price. Even for me with the unexpected flash crash i've really lost quite a lot, im also put my savings in buying BTC and ETH. But compared to others that are heavily invested to it they must be in extreme depression right now. I hope they realized that the market will eventually recover just stay positive.

BAD ASSUMPTION:   Since the crisis began, more people are SELLING BitCoin than buying, that should make you think...  Even FOOLS know the saying there is no free lunch, and you assuming your investment will go back up is dumb.  I have no idea where bitcoin will go from here, but what I do know it that is CAN go down and be worth virtually nothing in the future.  BitCoin could also go up, but given the price performance I have seen, I would not invest in BitCoin at any price.

You are correct about one thing, there are a lot of BitCoin investors that bought in at 10,000 + in EXTREME DEPRESSION right now.   And their Mental Health is possibly about to get a lot worse 

Hard Facts

[HardFacts]

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

Well, he said about the panicking so I guess when the investors are mentally ill, they will panic and sell at a loss. Some investors are not feeling good every time bitcoin is dump, so maybe most of them sell their bitcoin and that affects the price. OP is right, we only one lives to use for so better not to worry that much with bitcoin because it will bounce back again in time and you will not regret for holding bitcoin.

THERE IS ANOTHER, WORSE POSSIBILITY than selling at a loss...   That is keeping your BitCoin and losing virtually ALL your investment     

Any rational, smart investor knows when it is time to cut losses and sell.

I have no idea if BitCoin price will go up or down from here, but I do know that to hold no matter what the facts say is just stupid and good way to lose all your money.

Hard Facts

[FlightyPouch]

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I think you are confused here, mate. We have something we call the supply and demand. As the supply is small, the demand increases and that is somewhat the basis of the price of bitcoin. Panic is not new in this market but it is one of the reasons why the price also falls especially when there are those people that spread FUDs.

[verita1]

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.

This phrase is charged with human quality as a member of bitcointalk that gives its most positive message in times of crisis. And You are right, we are currently living in a difficult time for humanity. Statistics show that people become mentally ill when they have problems with job loss, loss of money, and some even commit suicide. We have the opportunity to recover material things, we must fight now to recover the most important public health.

[HardFacts]

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

 Panic is not new in this market but it is one of the reasons why the price also falls especially when there are those people that spread FUDs.

What an UTTERLY STUPID statement.  Taking Valid Concerns about BitCoin and changing the name to FUD's is a very dishonest way to get people to ignore very real risks.  I have news for you, the reasons for the price going down are not FUD's...   The price crash in a crisis is due to facts and reality.  WISE UP.

Would you trust any wall street investment if when you raised a concern, they accused you of being a FUD and a reason for you loss of money ?   

Seriously, there are some very low quality, dumb, cult like " believers " here.

Hard Facts

[witcher_sense]

This is an interesting approach, but what about the high volatility of bitcoin? Every time we see such a swing in the price range, then blood pressure and heart rate increase self-sufficient. I think that if there is a strong mental concern, it is better not to mess with Bitcoin.

And again, high volatility of bitcoin creates many opportunities to buy more of asset at the price you need. The only thing you have to do here to avoid mental problems is to change your philosophy, think what you are really waiting from bitcoin. Depending on your philosophy, you will see either a high volatility asset with very high risk to trade or you will see an asset that was born to change our future, our understanding of what real money should really be. By changing your mind, you can better understand how you should react on price spikes. If not, then everything might become frightening for you, ruining you mental health.

[Twinkledoe]

This is an interesting approach, but what about the high volatility of bitcoin? Every time we see such a swing in the price range, then blood pressure and heart rate increase self-sufficient. I think that if there is a strong mental concern, it is better not to mess with Bitcoin.

And again, high volatility of bitcoin creates many opportunities to buy more of asset at the price you need. The only thing you have to do here to avoid mental problems is to change your philosophy, think what you are really waiting from bitcoin. Depending on your philosophy, you will see either a high volatility asset with very high risk to trade or you will see an asset that was born to change our future, our understanding of what real money should really be. By changing your mind, you can better understand how you should react on price spikes. If not, then everything might become frightening for you, ruining you mental health.

Many people are in bad mental state when they have something to lose that they can't afford. That's why they are very worried about the movement in the market. So the sudden drop or rise, makes him agitated and confused what to do with his investments. So when it comes to crypto, better invest what you can afford to lose so your life is not depending on it.

[HardFacts]

Many people are in bad mental state when they have something to lose that they can't afford. That's why they are very worried about the movement in the market. So the sudden drop or rise, makes him agitated and confused what to do with his investments. So when it comes to crypto, better invest what you can afford to lose so your life is not depending on it.

THAT IS GOOD ADVICE....  Which is hard to find in the BitCoin community.   With so many " believers " this community has turned into a cult of people that just reinforce each others delusions.    BitCoin is a great way to speculate, and if you can call the highs and dips, you can make a lot of money, but it is a Casino...  And I would never mortgage my house or take my retirement to gamble at the casino.

I have no idea which way BitCoin will go from here, but its reaction to its first ever crisis is VERY WORRYING.   If people were looking at reality, there would be a lot more people here with really bad mental health.

Hard Facts

[HardFacts]

our understanding of what real money should really be.

That is where you go TOTALLY WRONG.   BitCoin is NOT, NOT, NOT what real money should really be.   

1.  There can be an infinite amount of crypto currencies created, which is why we now see thousands of them 

2.  It needs to have intrinsic value, which BitCoin does not have.   Try making a " Digital House " and selling it, or even living in it, no matter what name and special " properties " you give your Digital House, it will never be real.

Hard Facts

[DooMAD]

1.  There can be an infinite amount of crypto currencies created, which is why we now see thousands of them 

2.  It needs to have intrinsic value, which BitCoin does not have.   Try making a " Digital House " and selling it, or even living in it, no matter what name and special " properties " you give your Digital House, it will never be real.

What's "real" is the global, trustless network of nodes that help secure the network.  You can't make a digital copy of people choosing to be part of a network.  There's no financial incentive to run a node unless you are mining, but people are still freely choosing to do this.  They presumably do this because they understand the importance of censorship resistance and being immune to regulatory shutdown.  In comparison, it's obvious that you are totally incapable of seeing Bitcoin as anything other than a speculative tool and that's due to your failure to comprehend.  We're not simply "naming special properties", we have physically built a network that can't be dismantled without shutting off the entire internet.

Stop talking to us as if you are qualified to speak about this subject when you clearly don't understand the first thing about network effects and utility.  It's true that there are thousands of different blockchains, but unless lots of people use those blockchains, they are just poor imitations and have little value or utility aside from mindless speculation.  Some people do attempt to speculate with Bitcoin and it is possible to lose money doing that.  But, choosing to speculate on Bitcoin does not detract from the utility Bitcoin provides (and other blockchains can't compete with).

Also, stop double-posting.  Combine your mindless drivel into a single post with multiple quotes.

[HardFacts]

What's "real" is the global, trustless network of nodes that help secure the network.  You can't make a digital copy of people choosing to be part of a network.  There's no financial incentive to run a node unless you are mining, but people are still freely choosing to do this. 

Just like people that choose to be a part of any PYRAMID or PONZI scheme, they all have a financial incentive to participate, that does NOT, NOT, NOT make it money...   A lot of networks and ponzi schemes come and go.    There can be an infinite number of financial networks created, that does NOT make a crypto real money.

Despite all your bluster and trying justify your " beliefs ", it is obvious you have a lot of " faith " but have zero understanding of what real money is....

Hard Facts

[DooMAD]

What's "real" is the global, trustless network of nodes that help secure the network.  You can't make a digital copy of people choosing to be part of a network.  There's no financial incentive to run a node unless you are mining, but people are still freely choosing to do this.  

Just like people that choose to be a part of any PYRAMID or PONZI scheme, they all have a financial incentive to participate

What part of "There's no financial incentive to run a node unless you are mining" did your brain fail to parse?

[FlightyPouch]

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

 Panic is not new in this market but it is one of the reasons why the price also falls especially when there are those people that spread FUDs.

What an UTTERLY STUPID statement.  Taking Valid Concerns about BitCoin and changing the name to FUD's is a very dishonest way to get people to ignore very real risks.  I have news for you, the reasons for the price going down are not FUD's...   The price crash in a crisis is due to facts and reality. 

Well, facts that people are being scammed and can still be scammed and the reality that despite a lot of people know that the scammed bitcoins are being moved and dumped, no one can stop it.

[Findingnemo]

At first, I lost my mind as well when I wake up from the bed and saw my portfolio values reduced almost to half of its value before I got to my bed but slowly I started to realize why this is happening and what should I do. But things didn't change and made it worse the next day still I didn't lose my hope and never had any suicidal thoughts as other weak hearted people might have.

Anyway its just a money, we can make later or even the next day itself but life is one-time offer so use it well.

[thisnewcoin]

Everybody can't take the bitcoin crash pressure easily. I remember when the Bitcoin price was 3300$, many of my known people wanted to commit suicide! Because they bought at a very high price, like 14-17K USD, Because there were rumours that Bitcoin will go for 30-40K USD! After that I stopped telling people about the crypto world, it's not for everyone! In this month, Bitcoin price crashed like hell again, people were freaking out, the good thing is, most of the crypto supporters are mature now!

[HardFacts]

, Bitcoin price crashed like hell again, people were freaking out, the good thing is, most of the crypto supporters are mature now!

BitCoin supporters are NOT mature, they are cult like delusional " believers "...   And that is a VERY BAD way to invest money.   Seriously, would anyone invest in a Wall street product that sold it based on " faith " and where any negative information was DISMISSED as FUD ?

I have no idea if BitCoin will go up or down from here, but how BitCoin is crashing in its first ever FINANCIAL CRISIS should worry everyone.   My mental health would be very bad right now if I had borrowed and invested my retirement into BitCoin, since I look at reality, and not not operate on " faith "...

Hard Facts

[Findingnemo]

I have no idea if BitCoin will go up or down from here, but how BitCoin is crashing in its first ever FINANCIAL CRISIS should worry everyone.   My mental health would be very bad right now if I had borrowed and invested my retirement into BitCoin, since I look at reality, and not not operate on " faith "...

Hard Facts

There should be a correction this is not a financial crisis, its like a world war scenario all over the world but the enemy is something which can't be seen with our naked eyes so its called virus.And every kind of investment is something under faith, how can you be assured that stock you invested will go more value in the next few years?

Just faith right.