Guys avoid panic sell...

[michellee]

We can't blame others to sell their bitcoin at its current price nor to stop them either because they have the reason also that makes them decide.
I know they don't want to do it, it was a sacrifice for them but they don't have another option than selling to save them from being out of resources during this time as quarantine and lockdown has implemented.
I feel this one cause it is really hard when you are at limited resources. It can't be a panic selling (as most people think about) but this is just a saving life in order to sustain for a long time out from the job.

+1. I also have this kind of thoughts on my mind;
Some people, they put their savings on Bitcoin, while these days, the coronavirus (covid19) outbreak, some people got no more jobs, lot of businesses got affected and in short, money coming in is extremely affected and for sure, there are some people using or already used their Bitcoins to cash out to fiat and use for their daily lives these days, buy foods and everything that the family needs. They have different reasons for sure.

Actually that happen these days plus the fact that the price of bitcoins is crashing people will get another panic to sell their crypto's for fiat to secure the last money they have for the calamity, And this a huge burden since it really affect all no matter what you stand on the society and lets pray that this disease will end up soon.

Maybe that is the reason why the crypto market has crashing in the few weeks ago. People who don't have a lot of bitcoin sell their bitcoin while they can see a good price to sell, and that push the price to go down and finally, the price still going down. People needs to buy food while they isolate themselves in their home and lucky for people who already sell their bitcoin because they can have money to buy their daily needs. That makes other people who don't worry with their money become panic when they see the price is going down so they follow to sell their bitcoin.

[Yamifoud]

I could say that I wasn't in panic selling but I have to sell it now no matter how its cost because I need it.
The market is in trouble and we are affected by this. Holding meant nothing for some of us and most probably they sell it already when the price drop at $4k. It is quite to say that people are now looking for a way to save their lives rather than dying of holding their coins. At these hard times, you can't either think about holding cause it won't save you especially when you have no salary expected to arrive instead, selling it could help.

[Janation]

After this corona deadliest disease the governments in most of the countries has announced lockdown and this has caused a stir among people's because they can't go out of home, So people are selling their asset for cheap prices. Guys this will surely impact the price of crypto and the dip will continue if it goes like this, do not panic sell have patience and just wait till the market recovers...

Reading posts about the pandemic, I think people would really be forced to sell their Bitcoins.

Not because they wanted it but because they needed it. A lot of countries are affected by this pandemic especially the citizen of these countries. They can't just keep on holding if that person and his family is starving right? What they need right now is fiat to buy things they needed, they need food to sustain themselves for weeks and weeks of quarantine.

[RealMalatesta]

We have some sort of bottleneck situation that can't be resolved until there are not many people who are willing to sell at the current price. We go up, it gets stuck at a resistance level, people start selling we go down, we go up it gets stuck in re... well you get it, there is really no way out of this until we get rid of all the sellers and unfortunately a lot of them are traders who sell at the top and buy at the bottom so they will never run out of money to sell.

I don't know what we can do, I don't know what the solution is, I just know about the problem and knowing the problem is one half of the deal but having a solution is much much more important. What do you guys think? How can we slow down the traders enough to go beyond $8k before they start selling again?

[Republikcoin.com]

I could say that I wasn't in panic selling but I have to sell it now no matter how its cost because I need it.
The market is in trouble and we are affected by this. Holding meant nothing for some of us and most probably they sell it already when the price drop at $4k. It is quite to say that people are now looking for a way to save their lives rather than dying of holding their coins. At these hard times, you can't either think about holding cause it won't save you especially when you have no salary expected to arrive instead, selling it could help.

needs are always an excuse. because it's a pandemic or not, I think people will still sell their assets when they need them. it's just that, the current conditions make people's needs increase, and almost all investors sell their assets to meet their needs. Well, this is not panic, it's just the urge to make people sell their assets. if this is caused by panic, I think the price of bitcoin can decrease to $ 3000. but, the reality is not.

[Reatim]

After this corona deadliest disease the governments in most of the countries has announced lockdown and this has caused a stir among people's because they can't go out of home, So people are selling their asset for cheap prices. Guys this will surely impact the price of crypto and the dip will continue if it goes like this, do not panic sell have patience and just wait till the market recovers...

HODLERS will keep their currencies as long as they are not triggered by the economic crisis but today?i guess this is the time that Hodlers need to sell their holdings for a while and may try again to accumulate after this pandemic crisis that bringing Burden to the whole community now only here in crypto but also in stocks and Oil companies.

for the very first time in our history Virus infected the world like this things that never happen before so bear with this and just understand the need of money than cryptos.

If they hit badly by economic crisis happening then best to sell their balance off to save theirselves from the burden brought by the disease but it they have enough money to spend for more longer months then best to save it and don't sell at losy since there still high chances for a pump since we will positively see a price pump since halving still on his way to take effect in future.

actually thats what i said already and completely mentioned all what you said in my post lol.

Trust me there has been numerous warnings shared on this forum requesting people to avoid panic selling but some will just ignore and do it and some of then cannot control emotions when they see the value of crypto falling beyond the limit. We need to learn from the past as panic selling has always been disastrous decision for ourself as well as the community.

and in the end?they are mostly regrets their decisions though in this pandemic everything is tolerable and it is normal to panic when you have no foods on the table to eat and your Grocery stocks are starting to vanish.

[bassbity]

I could say that I wasn't in panic selling but I have to sell it now no matter how its cost because I need it.
The market is in trouble and we are affected by this. Holding meant nothing for some of us and most probably they sell it already when the price drop at $4k. It is quite to say that people are now looking for a way to save their lives rather than dying of holding their coins. At these hard times, you can't either think about holding cause it won't save you especially when you have no salary expected to arrive instead, selling it could help.

needs are always an excuse. because it's a pandemic or not, I think people will still sell their assets when they need them. it's just that, the current conditions make people's needs increase, and almost all investors sell their assets to meet their needs. Well, this is not panic, it's just the urge to make people sell their assets. if this is caused by panic, I think the price of bitcoin can decrease to $ 3000. but, the reality is not.

At the time of the pandemic certainly the need must increase because they do not work and continue to be at home so their investment money is forced to sell assets to finance their daily needs, but I think the panic will not exist because of the seen movement of bitcoin continues to increase so I think bitcoin will continue recovering from seeing crypto market conditions like this so whatever happens in the future bitcoin will be the best choice.

[HardFacts]

Reading posts about the pandemic, I think people would really be forced to sell their Bitcoins.
 

IGNORANT, SIMPLISTIC, thinking   

Some people are selling because they need the money now. 
Some people are selling because they are panicked.
Some people are selling because they are rational investors, making a rational choice to get out at these prices, as they think prices will go lower in the future. 

There are a LOT of reasons people sell, trying to excuse it all for one reason is just dumb.

[adaseb]

From what I can gather and explain, here is what most likely happened that made bitcoin pretty much crash to $3350 or so back in Mid March. The coronavirus was finally taking a toll on the markets, and BTC seems to be correlating with stock indicies. That week there was a huge dump in many global markets and bitcoin followed. Then bitcoin kept going lower and lower most likely because BTC was at a profit for most investors but their stock positions were at a loss, hence they sold to make up for it. It led to more selling and eventually the long liquidations started.

Bitmex is the largest exchange and provides most of the liquidity for many of the traders. However BTC in Feb was over $10K and many were assuming it would hit a new ATH since the halving was approaching, hence they opened leverage positions and when it broke the $7500 area there was nothing but long liqudations after long liquidations and pretty much there was a $1 billion of long liquidations and no bidders, hence the exchange went down and as a result it saved BTC from going to $0.

[exstasie]

Bitmex is the largest exchange and provides most of the liquidity for many of the traders. However BTC in Feb was over $10K and many were assuming it would hit a new ATH since the halving was approaching, hence they opened leverage positions and when it broke the $7500 area there was nothing but long liqudations after long liquidations and pretty much there was a $1 billion of long liquidations and no bidders, hence the exchange went down and as a result it saved BTC from going to $0.

There's no way Bitmex liquidations could ever bring BTC to $0, or anywhere close to it:

For prices to fall on spot exchanges, people need to sell real BTC, on spot exchanges. Long liquidations on Bitmex do not accomplish that, and we know zero withdrawals left Bitmex during the crash because they only process withdrawals during mornings US time.

Nobody knows it was Bitmex-tied algorithms that dumped all that supply. That's just a big unproven assumption. All we know is inflows to spot exchanges increased ~170K BTC more than usual in the days preceding the crash. Massive supply leads to lower price.

A lot of over-leveraged traders got destroyed on Bitmex, I'll agree with that. I am however not convinced Bitmex controls the spot market.

When Bitmex went down, the perpetual swap market was already a few hundred bucks below spot price. If it kept going, it would have just diverged more and more from spot prices. There wasn't that much open interest left on Bitmex after the crash anyway.

[coin_1122]

We shouldn't sell the coin on the basis of panic because everybody has their own requirement until their desired target is reached. Panic selling makes us lose the value of the coins and it is not good for us, we need to wait for the market recovery. Panic selling will not help you to make money so it is best to avoid this type of selling.

[okala]

As far as the elites can still keep us in fear and greed there is no way we would not see big sell off when they have decided to manipulate the financial market for their advantage. Panic sellers will always lose money but people must panic and will panic especially if their life saving is involved.

[btc78]

We shouldn't sell the coin on the basis of panic because everybody has their own requirement until their desired target is reached. Panic selling makes us lose the value of the coins and it is not good for us, we need to wait for the market recovery. Panic selling will not help you to make money so it is best to avoid this type of selling.

but what if you are starting to Starve?for sure you will Sell all the Bitcoins in your hands right?

As far as the elites can still keep us in fear and greed there is no way we would not see big sell off when they have decided to manipulate the financial market for their advantage. Panic sellers will always lose money but people must panic and will panic especially if their life saving is involved.

that exactly the point,Manipulators are making this panic more active so people will sell and the price will fall to favor their target bagging another money from the poor investors.

[HardFacts]

As far as the elites can still keep us in fear and greed there is no way we would not see big sell off when they have decided to manipulate the financial market for their advantage. Panic sellers will always lose money but people must panic and will panic especially if their life saving is involved.

The " elites " , real money from central banks, countries, and institutional money is NOT, NOT, NOT invested in BitCoin.   They are buying all the Gold they can get...  That should be enough to clue some people in.

Hard Facts

[carter34]

Yes i agree guys you shouldn't sell your bitcoins just wait till this deadly disease is gone and wait for the market to recover i do believe that price of bitcoin will fuel up As soon as this virus thing is over and then would be the best time to sell DO NOT PANIIC guys just wait be patient.

I think what we do is to adopt patient strategy this period. To hodl now is a good business plan because the market will soon open up. If the virus period is over, we expect pumping price and volatility because investment will start growing.

[jhonjhon]

Yes i agree guys you shouldn't sell your bitcoins just wait till this deadly disease is gone and wait for the market to recover i do believe that price of bitcoin will fuel up As soon as this virus thing is over and then would be the best time to sell DO NOT PANIIC guys just wait be patient.

I think what we do is to adopt patient strategy this period. To hodl now is a good business plan because the market will soon open up. If the virus period is over, we expect pumping price and volatility because investment will start growing.

Then I hope this will gonna do knowing that many people are still selling at this time just to have money.
Though they want to hold but the situation might push them to do this. We are in the crisis either we like it or not, many were still be losing their confidence towards crypto if the situation get worsen.

[Yamifoud]

I could say that I wasn't in panic selling but I have to sell it now no matter how its cost because I need it.
The market is in trouble and we are affected by this. Holding meant nothing for some of us and most probably they sell it already when the price drop at $4k. It is quite to say that people are now looking for a way to save their lives rather than dying of holding their coins. At these hard times, you can't either think about holding cause it won't save you especially when you have no salary expected to arrive instead, selling it could help.

needs are always an excuse. because it's a pandemic or not, I think people will still sell their assets when they need them. it's just that, the current conditions make people's needs increase, and almost all investors sell their assets to meet their needs. Well, this is not panic, it's just the urge to make people sell their assets. if this is caused by panic, I think the price of bitcoin can decrease to $ 3000. but, the reality is not.

That is why we can't blame people to sell their coins because they are in big trouble. Even me, I have to sell some just to have reserved when the situation gets worsens. Though we could see that we are plunging up at  $6.8k but it gives no assurance that the momentum will continue. It only gives us confidence if the pandemic is over. But as of this time, we have nothing to sure about what is the incoming...better to be prepared for it.

[Janation]

Reading posts about the pandemic, I think people would really be forced to sell their Bitcoins.
 

IGNORANT, SIMPLISTIC, thinking   

Some people are selling because they need the money now. 
Some people are selling because they are panicked.
Some people are selling because they are rational investors, making a rational choice to get out at these prices, as they think prices will go lower in the future. 

There are a LOT of reasons people sell, trying to excuse it all for one reason is just dumb.

You are the one being ignorant here.

That is the reason I added those words "Reading posts about the pandemic", right there since I am basically focussing on those people that are affected by the pandemic. Isn't those people that can't even understand other people perspective are the ignorant and dumb ones? Coming from you?

[GrayFullbuster]

It is really hard to avoid panicking especially if we have a certain coin in our portfolio then its prices decline so bad. Controlling our emotions is really hard, I also having a hard time for me to set aside my emotions when I do trading but for me I can do it because I know do training in order for me to not panic anymore.

[adaseb]

There's no way Bitmex liquidations could ever bring BTC to $0, or anywhere close to it:

At the moment just before they went down, there was almost no bids in the orderbooks all the way down to $0. And they had almost $1000 million of long liquidations to clear. Those $10M ask walls kept appearing over and over again and nobody wanted to take them. If it wasn't for the downtime, it eventually would of went to $0 on Bitmex perps and their futures.

Would it go to $0 on other exchanges? No idea. It depends what rules the market makers and arbitragers would play by, I am assuming most were out of the market by then and others just simply turned off their algos due to hectic trading action. So maybe it wouldnt go to $0 on those exchanges but the spread would be like $2000-$3000 difference between the 2.

It truly was a very scary moment in trading history, basically what happened when the Swiss Franc removed that EURCHF hedge about 7 years ago.