Don’t Panic

[kotajikikox]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

WHy sell > just let it be in your wallet if there is nothing emergency , The movement of bitcoin now looks like strategically hard to predict.

There might be a Advance growth in the soonest or maybe there is a bad fall , but whatever we have waiting is really cannot be said until it happens.
So if you  re a HODLER then better never look for taking out but instead for a chance to add more.

[Furious 7]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

WHy sell > just let it be in your wallet if there is nothing emergency , The movement of bitcoin now looks like strategically hard to predict.

There might be a Advance growth in the soonest or maybe there is a bad fall , but whatever we have waiting is really cannot be said until it happens.
So if you  re a HODLER then better never look for taking out but instead for a chance to add more.

This reflection will definitely happen normally bitcoin will be faster in the 38k-40k movement but if we only look at how significant the movement is then there is no need to hold it longer, the profits are already there and better, if the intention is to want more and funds are not emergency then it is necessary to hold it longer.

I think most of now see the movement first if it touches 38k again then I'm sure it will sell what percentage we get but for sure this is more than enough.

[Wind_FURY]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

WHy sell > just let it be in your wallet if there is nothing emergency , The movement of bitcoin now looks like strategically hard to predict.

There might be a Advance growth in the soonest or maybe there is a bad fall , but whatever we have waiting is really cannot be said until it happens.
So if you  re a HODLER then better never look for taking out but instead for a chance to add more.

HODL Bitcoin has currently become Bitcoin’s own purpose, and HODLing in itself has become its own reward. It definitely feels very great to HODL, except those times during bear markets. Hahaha.

[Adamini]

To predict the trend and price of bitcoin, we still need to check a large number of trading records. Of course, no one is right

[ethereumhunter]

Panic will only give you blindness to see what is happening to the market, and you will not see a clear sign to take advantage of the situation. If you are late to buy or sell, you can calm down for a while, so I think you will see another opportunity to do something useful for yourself. If you are still holding while the price goes down, I think you will see that you can buy back more bitcoin or altcoin at a low price, so your profit will be bigger when the price increases.

[exstasie]

I think the reason why people are starting to turn negative is due all the FUD we are getting lately. There is the tether fud, last week was the MtGox coins supply hitting the market. Then there is always the fud about regulation since XRP got sued.

All this FUD and the market still refuses to dump. It just keeps flagging out sideways.

The bears had a great opportunity to punch below $30K in a big ABC pattern but it's beginning to look like weeks of sideways instead. Higher lows, lower highs. Bullish sideways.

However institutionals like Grayscale keep buying and so do some funds which are staying quiet about it. Does it mean BTC can go down and break $30K, yes its possible.

Still possible yes, but getting less likely given the lack of bearish momentum. I was leaning 60-40 in favor of a sub-$30K dump last week. Now I'd say those probabilities have reversed.

[buwaytress]

I think the reason why people are starting to turn negative is due all the FUD we are getting lately. There is the tether fud, last week was the MtGox coins supply hitting the market. Then there is always the fud about regulation since XRP got sued.

But what else would be new in Bitcoin media? And to be fair, I've actually not seen FUDding happen for a long time now. Or, if it's going on, then they hype is definitely drowning out the FUD cause almost everywhere I look I see rosy headlines.

XRP, Tether, MtGox? When have either actually been bad for Bitcoin (long term?).

[exstasie]

But what else would be new in Bitcoin media? And to be fair, I've actually not seen FUDding happen for a long time now. Or, if it's going on, then they hype is definitely drowning out the FUD cause almost everywhere I look I see rosy headlines.

XRP, Tether, MtGox? When have either actually been bad for Bitcoin (long term?).

I don't think the market cares about the SEC targeting tokens like XRP. If anything, it just reinforces Bitcoin's dominance over the altcoin market.

As for Tether, you know how the FUD goes: "systemic risk, too big to fail." If Tether goes down, the losses will be so large for USDT holders that everyone will......decide dump their BTC? (Not sure I buy that one.)

The Mt. Gox FUD is pretty severe. This is a significant amount of coins potentially being released onto the market, and the holders are sitting on 7+ years of unrealized long term capital gains. I can see why the bears cling to it: Mt. Gox may release 150,000 Bitcoin into the market drastically increasing the downward pressure

Now that Coinlab is out of the way, the coins might actually be released soon: https://decrypt.co/54366/mt-gox-victims-can-now-recoup-some-their-bitcoin

[pooya87]

I think the reason why people are starting to turn negative is due all the FUD we are getting lately.

It has always been about timing, the FUDs came out right when the correction started after setting a (2x higher than before) new ATH. Like always when the weak hands saw the drop they started pushing the big red sell button!
It is funny how it can not push it any lower than the normal correction level could though. The only reason it is not going back up right now is the same fear that is giving the whalecumulators the chance to buy more cheap coins these days.

[buwaytress]

I don't think the market cares about the SEC targeting tokens like XRP. If anything, it just reinforces Bitcoin's dominance over the altcoin market.

That's how I've always felt about any bad news for altcoins. It just makes retail and institutional see Bitcoin as the only proven asset in its class.

As for Tether, you know how the FUD goes: "systemic risk, too big to fail." If Tether goes down, the losses will be so large for USDT holders that everyone will......decide dump their BTC? (Not sure I buy that one.)

Except now, USDT is hardly the only route to preserving dollar capital. Almost every other exchange has their own stablecoin, granted, Tether's still the most easily liquidated now but even I personally have almost never had to use it.

The Mt. Gox FUD is pretty severe. This is a significant amount of coins potentially being released onto the market, and the holders are sitting on 7+ years of unrealized long term capital gains. I can see why the bears cling to it: Mt. Gox may release 150,000 Bitcoin into the market drastically increasing the downward pressure

Now that Coinlab is out of the way, the coins might actually be released soon: https://decrypt.co/54366/mt-gox-victims-can-now-recoup-some-their-bitcoin

The final bullet in the chamber (if we assume also that no other "lost" coins will ever be released), indeed. But it won't be a death blow, just a releveling of the landscape to some extent, before a return to the mean.

What I've learnt in my short time with Bitcoin is, what doesn't kill it (and none of this to me comes close to the threat of 2017's "split") only makes it stronger.

[arwin100]

I think the reason why people are starting to turn negative is due all the FUD we are getting lately.

It has always been about timing, the FUDs came out right when the correction started after setting a (2x higher than before) new ATH. Like always when the weak hands saw the drop they started pushing the big red sell button!
It is funny how it can not push it any lower than the normal correction level could though. The only reason it is not going back up right now is the same fear that is giving the whalecumulators the chance to buy more cheap coins these days.

Sometimes there are fuds scattered when the price is at the peak many whales want to buy bitcoins when the dumping stage and they follow up to spread some bad news that's why we see a panic will slowly building up, And it's expected since many are always keep looking for a pump they got their coins where FOMO is spreading everywhere and turnout that they buy at the peak but suddenly their expectation of pump didn't came that's why they want to sell immediately to minimize their losses and afraid to come back since they are afraid for another lose.

Although it's good to buy when the dump is stabilize but actually the main problem for other is they doesn't know on when to enter back again.

[Wind_FURY]

But what else would be new in Bitcoin media? And to be fair, I've actually not seen FUDding happen for a long time now. Or, if it's going on, then they hype is definitely drowning out the FUD cause almost everywhere I look I see rosy headlines.

XRP, Tether, MtGox? When have either actually been bad for Bitcoin (long term?).

I don't think the market cares about the SEC targeting tokens like XRP. If anything, it just reinforces Bitcoin's dominance over the altcoin market.

As for Tether, you know how the FUD goes: "systemic risk, too big to fail." If Tether goes down, the losses will be so large for USDT holders that everyone will......decide dump their BTC? (Not sure I buy that one.)

The Mt. Gox FUD is pretty severe. This is a significant amount of coins potentially being released onto the market, and the holders are sitting on 7+ years of unrealized long term capital gains. I can see why the bears cling to it: Mt. Gox may release 150,000 Bitcoin into the market drastically increasing the downward pressure

Now that Coinlab is out of the way, the coins might actually be released soon: https://decrypt.co/54366/mt-gox-victims-can-now-recoup-some-their-bitcoin

WhalePanda said that the “document” was just a draft of the rehabilitation plan. Nothing was signed, agreed, or settled. But one entity, Fortress, negotiated to allow some people who wanted to receive their coins early, and that the “lump sum” for those people was only pennies to the dollar, nothing significant.

https://twitter.com/whalepanda/status/1350421101256572928

[exstasie]

WhalePanda said that the “document” was just a draft of the rehabilitation plan. Nothing was signed, agreed, or settled. But one entity, Fortress, negotiated to allow some people who wanted to receive their coins early, and that the “lump sum” for those people was only pennies to the dollar, nothing significant.

https://twitter.com/whalepanda/status/1350421101256572928

Let's be real here. Creditors are getting pennies on the dollar no matter what.

According to Wizsec, the difference between taking the early payout and waiting is a matter of 1-2%:

Based on projections of likely final payouts, this early lump sum payment offer has been set as 21% of your claim size (as valued at the start of civil rehabilitation; the actual fiat/BTC amounts you'd end up receiving are subject to multiple additional steps and conversions, so this does not mean a flat 21% of your BTC claim).

Creditors who don’t opt for the early payout will stay on until the end and split the remaining assets normally, which is projected to be slightly higher (22–23%) if CoinLab’s claim is successfully struck down. This estimated difference between early and final payouts is where the “90% of your bitcoins” figure touted in the media comes from (21/23 ≈ 90%). However, should CoinLab ultimately succeed in its claim, remaining creditors will receive less.

At the end of the process, the payout percentage is calculated to what it should have been for everyone if the early payouts had not happened. If this number has fallen below 21%, say to 20%, the trustee effectively overpaid the early creditors and no longer has enough funds to even pay the 20% to all the remaining creditors. In this case, normal creditors will be prioritized and will receive the intended 20%, with the deficit instead being taken out of Fortress/MGIF's claim as well as CoinLab's claim if necessary. (Early creditors keep their 21%.)

I think the Reddit post Whalepanda is citing is wrong. The top comment seems more credible: https://www.reddit.com/r/mtgoxinsolvency/comments/ky7exa/why_21_is_actually_only_468/gjgs3h9/

[tokeweed]

Is everybody in denial or what?  I’ve been looking at the market for a couple of hours now and I feel like this current sell down could be the one to seal the deal.  Dunno...  I’m not seeing any long bottom wicks anymore.  What do you guys think?

[blckhawk]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

That is the best thing to do I'd say. Rather than panicking what if you just calm down and wait for a bounce-back before selling, I don't think the bull market was over anyway, there are still a lot of institutions who are still entering the crypto market and invest. But if it goes down without any notice then there's nothing we can do about that, it is either takes the risk and sell before it goes down to the floor or keeps holding it till it makes its new ATH again(that would take a lot of time though).

[wheelz1200]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

This is the ebbs and flows of bitcoin.  Dont worry about prices just keep stacking along the way.  In the end you will be in a good position, dont piss it away gambling, err trading.  Price fluctuations won't end of some time so just ignore them easiest way to deal with the market in my eyes

[Fatunad]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

This is the ebbs and flows of bitcoin.  Dont worry about prices just keep stacking along the way.  In the end you will be in a good position, dont piss it away gambling, err trading.  Price fluctuations won't end of some time so just ignore them easiest way to deal with the market in my eyes

When you do tend to deal or engage into this market then you should prepare yourself when it comes to volatility or price fluctuations yet this is one of the reasons on why people do jump into this market
due to those kind of movements which can possibly make out some serious profits.

Panic is a normal reaction because when you do see that the price is dropping out so fast in a short span of time then its hard to ignore on not to make any reactions.
Some say that it do looks easy but it is not but with due experience you would able to handle it out.

[sana54210]

The Mt. Gox FUD is pretty severe. This is a significant amount of coins potentially being released onto the market, and the holders are sitting on 7+ years of unrealized long term capital gains. I can see why the bears cling to it: Mt. Gox may release 150,000 Bitcoin into the market drastically increasing the downward pressure

Now that Coinlab is out of the way, the coins might actually be released soon: https://decrypt.co/54366/mt-gox-victims-can-now-recoup-some-their-bitcoin

The final bullet in the chamber (if we assume also that no other "lost" coins will ever be released), indeed. But it won't be a death blow, just a releveling of the landscape to some extent, before a return to the mean.

What I've learnt in my short time with Bitcoin is, what doesn't kill it (and none of this to me comes close to the threat of 2017's "split") only makes it stronger.

I do not believe that mt.gox 150k situation would be horrible. We had grayscale alone buying over half a million bitcoins and we have seen the increase, obviously speaking 150k sold on the market would be bad, but I have two ideas about why that wouldn't be horrible.

One is the fact that if they are not idiots they won't sell on market price and drop the price, if they have even a small sense of what is going on they would sell OTC for a fixed price which would mean the price will not fall that much, maybe just a bit.

Secondly we have increased so much from such a huge price action in the recent months, I doubt that they would allow this kind of fall neither, they would all gang up and buy that 150k from a bit lower price, still a fall but not as big as you imagine it would be. Obviously I can be wrong but those are valid opinions on what could happen.

[lixer]

When you do tend to deal or engage into this market then you should prepare yourself when it comes to volatility or price fluctuations yet this is one of the reasons on why people do jump into this market
due to those kind of movements which can possibly make out some serious profits.

Panic is a normal reaction because when you do see that the price is dropping out so fast in a short span of time then its hard to ignore on not to make any reactions.
Some say that it do looks easy but it is not but with due experience you would able to handle it out.

If people got in during a lot more calmer moments, they could have walked out with a lot more money, but people like to get involved when the market is at its highest the most and that makes my head dizzy. Oh bitcoin has been around 10k (around 5-15k range at best) for 3 years? Who cares I am not going to even look at it. Oh bitcoin is at 40k?? I should get a loan and invest into it!!!!!!!

Those people are a bit idiots if they think like that. I have been around since 2012-2013 and I made a decent amount of income from bitcoin I am not going to lie, I got in and got out countless times already and even though I do not have much anymore because I spent most of it for stuff, I can say that I have been blessed with being here, and I still have some saved thankfully, how? I didn't get out, for the past 8 years I have been here and I will keep being here.

[Renampun]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

The newbie must have panicked when the price changed fast...
In the last few weeks the Bitcoin price has been moving very wildly, this hour we saw the price correction of 5% but a few hours later we saw the price increase by 6%. *if you panic then you will only lose