Nocoiners desperately trying to say this is the end for Bitcoin

[thecodebear]

Bitcoin started a standard correction from $41k yesterday and has fallen 28% to bottom at $30k (so far) today, though currently back up to $34k.

Over the past 24 hours I've seen multiple articles pop up in my news feed saying Bitcoin is finally done and heading to zero, or claiming the bull run is over, even a UK watchdog said today investors in crypto should be prepared to lose most of their money! Now in some email feed I get this is the quote: "The crypto boom looks to be over. Bitcoin's biggest drop since March has shaken faith in the resurgence of the cryptocurrencies".


I can't even! haha. Bears jump on a single red daily candle like it's the last day anyone will ever want to buy bitcoin again haha. Their desperation is so overblown it is startling and pathetic. The fact that we've sen $41k and still the moment we get a down day in Bitcoin the rest of the world is expecting Bitcoin to immediately die off just shows how inevitable 6 and 7 digits are for Bitcoin's future when the rest of the world stops treating it like it's a penny stock that could disappear at any moment, despite the fact that it's the tenth most valuable asset in the world.


Any absurd doomsday articles you've seen pop up today thanks to nothing more than a standard bitcoin correction?

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[suchmoon]

Bitcoin and other digital coins tanked on Monday, wiping off some $150 billion from the entire cryptocurrency market.

$150 billion, oh no, that's it. It's dead for real now. Mere $34k for something I mined 5 years ago for about $340 a piece. How will I ever recover from this.

To be fair the above article is a bit more optimistic than the headline suggests but still it's an awful hackjob to present the $150 billion figure as some actual loss... it wasn't lost. Hodlers gonna hodl, and the few people who bought at $40k will cry a little and either be stupid or hodl too.

[zanezane]

Goddamn vultures trying to defame bitcoin, the S&P 500 does this but no one bats an eye. I get that these vultures need money too but to go as far as mudslinging for a sensational article is a little bit on the disinformation side of things, I do not like mainstream media because there is no good news anymore, all they ever post is either emasculating articles about how women are far greater than any other gender, wholesome stories that distract us from the genocides that are not covered because "it ruins publicity", and advertisements about pasta machines for Yuppies to buy. Do not believe the FUD, bitcoin has bounced back a lot of times for over ten years and look at what happened. Nocoiners=Nofuture.

[OcTradism]

People said or are saying bitcoin is dead or it is the end for bitcoin have a common thing: They have never touched a single bitcoin. They regretted that they have never invested in bitcoin and whenever bitcoin begins its parabola, they angrily said those words. It is the easiest way to express their disappointments.

Bitcoin only starts  its parabola after the 2020 May halving, the adventure is at the beginning and won't be stopped too soon. Many reputed speculators have models that estimate the price of bitcoin with this parabola can top up at $300,000.

[crwth]

The price became like that probably because some of the HODLers or traders are simply cashing out at the near top and not regret it in the future "in case". The spreading of news like that is considered bearish type and they are in it to make the price lower. This is probably because of more people getting into it and want to buy at a discounted rate.

It's just a matter of who is stronger right now, the bears or the bulls. Correction or not, it cannot be predicted. I think people should just focus on what you can control, like your belief in BTC, and accumulate more.

[exstasie]

Over the past 24 hours I've seen multiple articles pop up in my news feed saying Bitcoin is finally done and heading to zero, or claiming the bull run is over, even a UK watchdog said today investors in crypto should be prepared to lose most of their money! Now in some email feed I get this is the quote: "The crypto boom looks to be over. Bitcoin's biggest drop since March has shaken faith in the resurgence of the cryptocurrencies".

It's the same story every bubble. There's a certain breed of nocoiner that waits and waits for a Bitcoin shakeout just so they can yell about how the end is near. And although I'm sure they legitimately hope it is, most of them just do it for the clicks, or for the social media engagement. Which they get a lot of.

And that brings me to my point: people generally still love to hate Bitcoin. They're skeptical. They want to see it fail. That means they're not holding it yet.

There is still so much upside left.....

Any absurd doomsday articles you've seen pop up today thanks to nothing more than a standard bitcoin correction?

Less than I expected, honestly. But Dr. Doom is still up to his old tricks:

Bitcoin drops 25% from 41k to 31K in 2 days. 15% down in 24 hours. Most speculative, risky, scammed & manipulated pseudo-asset in human history. Its true value is still negative, not even 0, given the massive polluting externalities of its mining! A crappy environmental disaster!

https://twitter.com/Nouriel/status/1348707129813835777

[Yogee]

Institutions are using their controlled mainstream media platforms to get more BTC from weak handed retail investors at a cheaper price. I saw a headline from a news site yesterday that says "more than 20% drop which means bitcoin has entered a bear market" hehehe. I didn't open the entire article but that's the dumbest I've seen so far based on the title alone.

[BrewMaster]

you know what makes me mad isn't that they are spreading FUD, it is that they are spreading the same FUD again.

this must be at least the 100,000 article that repeated the same old story. in fact there is a website that keeps track of all these FUD articles about how bitcoin is "now dead" called bitcoin obituaries. i think the articles date back to 2011 and they are all the same. bitcoin has a drop of any size they fill the internet will doomsday stories!

[coinbiz]

you know what makes me mad isn't that they are spreading FUD, it is that they are spreading the same FUD again.

this must be at least the 100,000 article that repeated the same old story. in fact there is a website that keeps track of all these FUD articles about how bitcoin is "now dead" called bitcoin obituaries. i think the articles date back to 2011 and they are all the same. bitcoin has a drop of any size they fill the internet will doomsday stories!

Sadly that's because it works.  It scares retail and the small-timers.  It reinforces their preconceived worries and emboldens the same old narratives.

I have family that have questioned whether they should buy Bitcoin ever since I told them about it at $150-200.  I told them about Ethereum at $1.  They're just as skeptical now as they were back then lol.  Probably more skeptical now actually, because they only buy at the peaks, and sell at the slightest drop in price, and then that makes them believe that they shouldn't have invested lol.  If only they listened years ago.  But people are brainwashed.  So few people think for themselves these days.  That's why the same old FUD works.

[Poker Player]

I think that in those behaviors there is a little bit of wishful thinking as well.

There are people who could have bought bitcoin and didn't or who bought when it was high and sold out of panic when it came down, etc. Those people are waiting for the bitcoin to go to 0 so they can say: "See, I told you so!"

Just let them wait and keep holding.

[slapper]

Instead of moaning about bitcoin, they can instead buy bitcoin, right? I don't know why they choose not to involve in the crypto world although the opportunities still lie out there. This pie is giant and everyone can have their pieces if they willing to join. But no, they refuse to put a single penny on bitcoin. Well, at least I guess they know what to do in their free time: criticize bitcoin as forcefully as they can

[magneto]

Bitcoin started a standard correction from $41k yesterday and has fallen 28% to bottom at $30k (so far) today, though currently back up to $34k.

Over the past 24 hours I've seen multiple articles pop up in my news feed saying Bitcoin is finally done and heading to zero, or claiming the bull run is over, even a UK watchdog said today investors in crypto should be prepared to lose most of their money! Now in some email feed I get this is the quote: "The crypto boom looks to be over. Bitcoin's biggest drop since March has shaken faith in the resurgence of the cryptocurrencies".


I can't even! haha. Bears jump on a single red daily candle like it's the last day anyone will ever want to buy bitcoin again haha. Their desperation is so overblown it is startling and pathetic. The fact that we've sen $41k and still the moment we get a down day in Bitcoin the rest of the world is expecting Bitcoin to immediately die off just shows how inevitable 6 and 7 digits are for Bitcoin's future when the rest of the world stops treating it like it's a penny stock that could disappear at any moment, despite the fact that it's the tenth most valuable asset in the world.


Any absurd doomsday articles you've seen pop up today thanks to nothing more than a standard bitcoin correction?

Just another roadblock along the way to flush out the weak hands.

If you've been around BTC for a long time, this is precisely what the mainstream media perpetuates because it generates attention. But unfailingly, their predictions never pan out - because there is already demand for BTC as a store of value, both from institutional and retail sources.

There seems to be strong support for BTC at the $20k level at the very least, so there is really not a whole lot of room for markets to maneuver downwards in this period. Sure, a huge correction can come after the bull run is complete, but all the macro variables tell us that it's likely just getting started.

[stomachgrowls]

Instead of moaning about bitcoin, they can instead buy bitcoin, right? I don't know why they choose not to involve in the crypto world although the opportunities still lie out there. This pie is giant and everyone can have their pieces if they willing to join. But no, they refuse to put a single penny on bitcoin. Well, at least I guess they know what to do in their free time: criticize bitcoin as forcefully as they can

You cant please everyone and this had been the reality even how bullish the majority is been thinking about bitcoin but there are really those critics who would really continue to say up negative things
specially if they do saw an opportunity or chances on what would they gonna say.Anytime when we do see that the price is tending to have some serious correction, people
do easily panic and those critcisms and negative presumptions do rises.

End for bitcoin? If we do count all of this words literally into this forum then that would really be a long one.Bitcoin had died for how many times already its 380 since 2010
https://www.coindesk.com/bitcoin-obituaries-2020

So saying that it is dead will just raise the count haha.

[Twinkledoe]

Instead of moaning about bitcoin, they can instead buy bitcoin, right? I don't know why they choose not to involve in the crypto world although the opportunities still lie out there. This pie is giant and everyone can have their pieces if they willing to join. But no, they refuse to put a single penny on bitcoin. Well, at least I guess they know what to do in their free time: criticize bitcoin as forcefully as they can

You cant please everyone and this had been the reality even how bullish the majority is been thinking about bitcoin but there are really those critics who would really continue to say up negative things
specially if they do saw an opportunity or chances on what would they gonna say.Anytime when we do see that the price is tending to have some serious correction, people
do easily panic and those critcisms and negative presumptions do rises.

End for bitcoin? If we do count all of this words literally into this forum then that would really be a long one.Bitcoin had died for how many times already its 380 since 2010
https://www.coindesk.com/bitcoin-obituaries-2020

So saying that it is dead will just raise the count haha.

Very true! Countless times that we have heard, read that bitcoin is already dying and yet, here we are, still enjoying the effect of bullish run of btc. Even at 30k+ level, we are still winning. Why? How many times in the past years that we've seen bitcoin to achieve this level? None. That's right, only this year that we are enjoying this level of bitcoin. So just be grateful that we achieve this 30k level and enjoy the market. Make sure to take advantage of this opportunity because it may disappear right before our eyes.

[STT]

I have family that have questioned whether they should buy Bitcoin ever since I told them about it at $150-200.  I told them about Ethereum at $1.  They're just as skeptical now as they were back then lol.  Probably more skeptical now actually, because they only buy at the peaks, and sell at the slightest drop in price, and then that makes them believe that they shouldn't have invested lol.  If only they listened years ago.  But people are brainwashed.  So few people think for themselves these days.  That's why the same old FUD works.

Only buy what you know is part of good advice to avoid that sell on any decline, without any faith in the usage of what you buy its not surprising they lose out.   The same would happen across many commodities, stocks, etc.     I dont think they are the exception exactly, seems like simple human nature to me.   I think the majority of gains will come with actual usage by people because they are of course are going to have more faith to hold in any price test.    So BTC has to keep improving its utility or the prices are not going to be justified or retained especially, just as a speculation token I dont expect a positive outcome with that market behavior alone.      This isnt the end for Bitcoin because its hasnt started in mainstream usage and it could be but it might be the end of this phase of speculative interest for all we know, two different things.
   Incidental gains from wider wallet usage and retention of funds not for speculation but utility, diversity in assets and global breadth is going to be the real bullish trend I'm following and I speculate on the froth moments that occur along the winding path of dollar decline we are seeing.   What happens when we reach the end of the yellow brick road is of a more fundamental nature

[pooya87]

I have family that have questioned whether they should buy Bitcoin ever since I told them about it at $150-200.  I told them about Ethereum at $1.  They're just as skeptical now as they were back then lol. 

Then it is your fault because you introduced bitcoin to them as an investment not as what it really is (which is a decentralized currency). People are always going to be skeptical when you mislead them into thinking they are buying some magical virtual thing on their computer that will go up in value for no reason, they are more skeptical when you also include a shitcoin such as ethereum in your suggestion

[el kaka22]

Basically people who are not in crypto will look at it and the first thing they will say is bitcoin will "end". However what they are forgetting is that, if you got into bitcoin lets say 10 years ago and you are very lucky, and you hold all of that until today, and sold it today and made a ton of money... you still made millions of dollars from bitcoin? So, even if it "ends" which we all know it will never end and will always be better than fiat, a lot of people already made a ton of money from this anyway, including huge corporations like grayscale who just got in 2020 as well not like 10 years ago, but they made ton of money.

Long story short bitcoin ending is a way they try to comfort themselves but they are still wrong, they were never right and they will keep on being wrong forever, which is why I believe it is quite important we do not listen to nocoiners.

[buwaytress]

Ordinarily, yeah, I'd even be expecting weak hands to be letting go in the face of that crash. But this is just further proof that profit taking retail speculators no longer wield the sort of influence they used to. There simply isn't any weak hands in institutional investors and if it's true they're still only a fraction of the market with demand outstripping available supply, then bears aren't going to be too happy when next options expire.

[sgbett]

Goddamn vultures trying to defame bitcoin, the S&P 500 does this but no one bats an eye. I get that these vultures need money too but to go as far as mudslinging for a sensational article is a little bit on the disinformation side of things, I do not like mainstream media because there is no good news anymore, all they ever post is either emasculating articles about how women are far greater than any other gender, wholesome stories that distract us from the genocides that are not covered because "it ruins publicity", and advertisements about pasta machines for Yuppies to buy. Do not believe the FUD, bitcoin has bounced back a lot of times for over ten years and look at what happened. Nocoiners=Nofuture.

People most certainly do bat an eyelid when the S&P comes anywhere close to doing this.

Here is a list of the largest historical daily percentage losses of S&P:

Rank	Date	Close	Net Change	% Change	Some Eyelid Batting
1	1987-10-19	224.84	−57.86	−20.47	Black Monday 1987
2	1929-10-28	22.74	−3.20	−12.34	Black Tuesday
3	2020-03-16	2,386.13	−324.89	−11.98	Coronavirus Crash

I get what you are saying but talking about "not believing FUD" whilst posting misinformation yourself kinda undermines your point.

[Porfirii]

Yesterday I saw one guy saying the very same, but about ETH (just before it going green again).

There are so many people out there talking about future "facts", not only about Bitcoin anymore, that is a bit frustrating. Every literate person should be able to think on terms of possibilities and probabilities, but it seems that many don't share this insight, so they keep thinking that if they keep desperately saying that this is the end of this coin or this other one they will create an impact so big to influence the trend and buy cheap

Still a funny phenomenon to see