I though Bitcoin was created for this moment?

[DooMAD]

I've seen a number of posts over the years saying that once Wall Street and the like get involved, that's the time for "moon" and prices will supposedly skyrocket.  But I'm convinced that's fundamentally backwards.  My leading theory so far is that institutional investors treat Bitcoin like they do any other commodity.  They aren't looking at the important stuff, they're just reacting to market movements.  I'm not selling.  This crash doesn't faze me in the slightest.  I sincerely doubt anyone else who made a sensible post in the "Social Phenomenon" topic is selling either.  We're instinctive HODLers.  Therefore, it's undoubtedly speculators who are selling, because "follow the market".  

So the irony is, if fewer speculators were involved and more people cared about why Bitcoin is actually important, the price would likely be more stable.  

[HardFacts]

Not really at the first test, we've already done a lot of dumps in the previous and even reaching below $5k (were in the position right now).

WRONG, WRONG, WRONG:

This is the FIRST TEST of BitCoin in a Financial Crash.   Every previous price dump of BitCoin was in a growing bubble econonmy, where the general trend of everything was up.

THIS IS THE CRASH, and the BitCoin as " DIGITAL GOLD " and a safe haven asset is a LIE.    BitCoin is going down faster than almost every other asset.

Only FOOLS try to compare crisis we are in now to the past good times  🙈🙈🙈🙈

Hard Facts

[Oghenejivwe]

On March 12th, Bitcoin witnessed one of the biggest daily drops in its 10years history. While Bitcoin was clearly not the only financial that experienced such drop, it still came as a shock to me that Bitcoin will perform so badly in a liquidity event.`

As stocks, crude oil, mutual funds and other financial assets drop, Governments around the world will tend to print more fiat to support and stimulate their falling market, therefore, moving assets to Bitcoin which have a fixed supply with block halving just 60days away seemed like the rational thing to do. BUT THAT DIDNT HAPPEN.

Well, I remain bullish on bitcoin, because $5500 and a market Cap of about $100B doesn't represent the true value of the asset.

Bitcoin did appear right after the year of the world economic crisis, so I do believe it was created as something that could, among other things, stay unaffected by such events and thus be a solution of sorts. I did believe that people would move their investments into BTC in an event like we're experiencing right now, and I was very surprised to see Bitcoin go down that much. However, perhaps this is just the first reaction of people panicking and selling everything they can. Maybe Bitcoin will recover fast and prove that it can be a safe haven after all. We just have to wait and see where this is going.

Exactly, I never excepted such movement too. Maybe it hasn't gotten to the level where people view it as a safe heaven.

[Oghenejivwe]

What do you mean "created for this moment?" Do you think Satoshi was thinking of an economic crash when he created Bitcoin? I don't think so. Do you think Satoshi was thinking of a possible pandemic when he came up with the idea of Bitcoin? It is not true either. Satoshi was just creating a reliable currency, one that is much better than fiat currency.

Yes I agree with you. But the fixed supply of Bitcoin is supposed to give it an edge in this financial crisis. My humble opinion though

[enhu]

I've seen a number of posts over the years saying that once Wall Street and the like get involved, that's the time for "moon" and prices will supposedly skyrocket.  But I'm convinced that's fundamentally backwards.  My leading theory so far is that institutional investors treat Bitcoin like they do any other commodity.  They aren't looking at the important stuff, they're just reacting to market movements.  I'm not selling.  This crash doesn't faze me in the slightest.  I sincerely doubt anyone else who made a sensible post in the "Social Phenomenon" topic is selling either.  We're instinctive HODLers.  Therefore, it's undoubtedly speculators who are selling, because "follow the market".  

So the irony is, if fewer speculators were involved and more people cared about why Bitcoin is actually important, the price would likely be more stable.  

Institutional investors are the ones that keeps shorting and this is because those are the guys that believe so much of what is being said to them over and over that what is good for the banks are good for the government. Shorting every time there is a chance to earn money is all they care, they are not even into BTC accumulation but tether.

[Yamifoud]

Nah, I don't think that was a reason for its creation. We know its existence something unknown but one thing I understand why it was created is just because to uplift the way we go into the next generation. We are already engaged in online scheme, that is how it functions but somehow it never catches attention to all and yet, it was just ignored by some.

May we could say that Bitcoin is meant to be helpful this time and show its function. But look at, people are selling it now or converted it into fiat currency. Still, Bitcoin isn't functioning and that thing can't imagine which supposedly its market demand tends to increase because people might be using it to buy stuff and other necessities.

[madhavsinghrajput]

On March 12th, Bitcoin witnessed one of the biggest daily drops in its 10years history. While Bitcoin was clearly not the only financial asset that experienced such drop, it still came as a shock to me that Bitcoin will perform so badly in a liquidity event.`

As stocks, crude oil, mutual funds and other financial assets drop, Governments around the world will tend to print more fiat to support and stimulate their falling market, therefore, moving assets to Bitcoin which have a fixed supply with block halving just 60days away seemed like the rational thing to do. BUT THAT DIDNT HAPPEN.

Well, I remain bullish on bitcoin, because $5500 and a market Cap of about $100B doesn't represent the true value of the asset.

I 100% agree with you that it is nothing less than a shock to see bitcoin performing like this.I actully googled many stuff to find out how a virtual financial world can be affected by something which is going in real world and the more i search,more i get confused.You can see in my previous posts also i had tried to find something but didn't satisfied.Soo i ssumed my theory could be one of the possibilities of bitcoin under performing.
I assumed that as crisis in fiat market was sudden and people were not prepare,they loss hell lot of money.That created the panic situation and people suddenly realized they are in need of money to full fill basic necessities and they pull out whatever saving or investment they had done and we all know that fiat market is people's primary podium for investment and VC's market is secondary.Soo people invest there savings in bitcoin market to do long.Soo the money was suddenly withdrawn living bitcoin market in crisis.

[DooMAD]

I've seen a number of posts over the years saying that once Wall Street and the like get involved, that's the time for "moon" and prices will supposedly skyrocket.  But I'm convinced that's fundamentally backwards.  My leading theory so far is that institutional investors treat Bitcoin like they do any other commodity.  They aren't looking at the important stuff, they're just reacting to market movements.  I'm not selling.  This crash doesn't faze me in the slightest.  I sincerely doubt anyone else who made a sensible post in the "Social Phenomenon" topic is selling either.  We're instinctive HODLers.  Therefore, it's undoubtedly speculators who are selling, because "follow the market".  

So the irony is, if fewer speculators were involved and more people cared about why Bitcoin is actually important, the price would likely be more stable.  

Institutional investors are the ones that keeps shorting and this is because those are the guys that believe so much of what is being said to them over and over that what is good for the banks are good for the government. Shorting every time there is a chance to earn money is all they care, they are not even into BTC accumulation but tether.

I just hope people remember this and maybe stop and think a little more carefully in future next time they start wishing for the whales to join the party.  The people who have a few mBTC are effectively plankton in this sea.  The whales have other concerns and are not here to save them.    

[Twentyonepaylots]

Nah, I don't think that was a reason for its creation. We know its existence something unknown but one thing I understand why it was created is just because to uplift the way we go into the next generation. We are already engaged in online scheme, that is how it functions but somehow it never catches attention to all and yet, it was just ignored by some.

The sole purpose of bitcoin was to be a currency and not an investment but with some factors and liquidation and volatility it became one of economic class. It was created to be used in online trading in a more modern society like what we have now, the vision of the creator of it is clear up to this point, what is unclear is the people who are using it.

May we could say that Bitcoin is meant to be helpful this time and show its function. But look at, people are selling it now or converted it into fiat currency. Still, Bitcoin isn't functioning and that thing can't imagine which supposedly its market demand tends to increase because people might be using it to buy stuff and other necessities.

With the global situation right now, bitcoin should be in use however people are crushing it by selling and dumping, but I guess their reason is acceptable the fact that we are in crisis now. I agree, bitcoin isn't functioning as what it should be doing during these times perhaps we are not seeing it yet.

[kentrolla]

Not at all, economically the entire stuff is down from oil to share market has completely shattered and the real concern could be this corona scare. BTC isn't like a gold or copper,  where the price rates plays some unique roles meanwhile there was been a strange crash in hash rate before the dump. We cannot blame the situation for the downfall also worry isn't a solution for this so let's move on and have faith in BTC .

[Meowth05]

Maybe what is happening right now is circumstantial. It was created to be a currency and a way for people to do transactions faster, the reason that it became an investment is that it became a sensation to investors in which they see a bright future.

[pankaj1234]

Can happen but I don't think this way because every market has dropped these days When bitcoin goes down People sell more bitcoin and dump the price.corona scare is spreding in very high portion because of that may be people all arround the world does not transacting bitcoins. Cryptocurrencies are a great store of value and a great investment but they are not made for a a time when the everything is faling.

Bitcoin have been in this type of circumstances and every time market recovered so be patient and watch the game of bitcoin.

[Reatim]

On March 12th, Bitcoin witnessed one of the biggest daily drops in its 10years history. While Bitcoin was clearly not the only financial asset that experienced such drop, it still came as a shock to me that Bitcoin will perform so badly in a liquidity event.`

As stocks, crude oil, mutual funds and other financial assets drop, Governments around the world will tend to print more fiat to support and stimulate their falling market, therefore, moving assets to Bitcoin which have a fixed supply with block halving just 60days away seemed like the rational thing to do. BUT THAT DIDNT HAPPEN.

Well, I remain bullish on bitcoin, because $5500 and a market Cap of about $100B doesn't represent the true value of the asset.

expect the unexpected mate,mostly what we are looking in market will be denied because of Bitcoin volatility and of course the effect of economic problem also seeing the whole world experiencing such problem?what can we expect for crypto when people here mostly weak handed ,only looking good when market Pumps but when dumping?all they do is withdrawing assets and then just leave and wait for re investing again this not helping the market instead they are the cause of much dumping.

[Ridwan Fauzi]

Bitcoin user will have the same thing, back to bull run because bitcoin will meet halving event.

But in fact, we found this thing and at least in this situation I have been learning many thing.

I've known that I never know before, because privously many people said that bitcoin can be included as safe haven place beside gold.

But seem like it can be happened, just gold as safe haven place. And also, I'll say that bitcoin is like traditional market, as you can see know.

[denzkilim]

Bitcoin is created for a faster and cheaper transactions, this is my thought. On a daily drops yeah and we are all shocked because of that, but we should remain calm and be positive. Bitcoin proves to us that its not a totally a safe haven, this is also a big question for me but still I believe on the process of bitcoin and I know it can happen again one day.

Anything might happen on a daily basis because Crypto Currencies like Bitcoin have a very volatile nature that it's valued could drop extremely low or could soar extremely high anytime and all of this events that are happening are normal within the crypto space. Being a safe haven when calamity strikes are not the qualities of Bitcoin because just like what I have said Crypto Currencies are very volatile.

[rodskee]

On March 12th, Bitcoin witnessed one of the biggest daily drops in its 10years history. While Bitcoin was clearly not the only financial asset that experienced such drop, it still came as a shock to me that Bitcoin will perform so badly in a liquidity event.`

As stocks, crude oil, mutual funds and other financial assets drop, Governments around the world will tend to print more fiat to support and stimulate their falling market, therefore, moving assets to Bitcoin which have a fixed supply with block halving just 60days away seemed like the rational thing to do. BUT THAT DIDNT HAPPEN.

Well, I remain bullish on bitcoin, because $5500 and a market Cap of about $100B doesn't represent the true value of the asset.

Yes bitcoin is created for this and that is how Volatility works,things in our thoughts will not go along always
instead mostly the opposite so yeah this is it.actually we have seen many dumps and pumps like this for bitcoin.
some helps us but most fails us but in the end of the day?we are still here investing and keeping our currencies.
maybe what we should do now is like what you said,become Bullish for positive position.anyway we cannot do anything now but to wait.

[Argoo]

Bitcoin was not created for such cases. It can be an anti-inflationary tool in the general global economic crisis, but not in such disasters. In similar situations, in the future, bitcoin can play a positive role in such situations only when it has a very high liquidity. Bitcoin would not fall in price now and would be a good refuge if it could be directly exchanged for goods and services. The negative role now was played by the fact that for the opportunity to buy basic necessities, people needed to put bitcoin up for sale on the exchange and this led to a drop in its price.

[charlenea13]

Bitcoin is formed for a quicker and fewer expensive exchanges, this is often my idea. On each day by day drops better believe it and that we are completely stunned thus, however we need to shut one's mouth and make certain . Bitcoin demonstrates to us that it's anything but an absolutely an area of refuge, this is often likewise a central issue on behalf of me yet I accept on the procedure of bitcoin and that i know it can happen again at some point .

[Pixyoxx]

Yes i think that bitcoin was created for crisis like this as the price is low now i still believe that bitcoin will rise. Lets see wait and watch what happens