Love the bad news

[sheenshane]

I don’t think embracing bad news like this is very helpful and can be taken advantage of.  We should always consider the consequences of the circumstances.  I highly understand the logic, but it doesn’t apply to the example provided. Why?
If in case of exchange platforms are hacked, it's indeed the price will go down and some might pull out their funds in the exchange or it might the whole cryptocurrency market itself will collapse too.

But the reason?
That's something you should fear.  If in case most reputable exchanges have been hacked, that is a very scary threat to Cryptocurrency’s Reputation and will scare out new investors and removes the trust they built with existing ones.  Do you think this is helpful?  In my opinion, No.

[tinopener]

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

― Warren Buffett

"[Bitcoin] is probably rat poison squared"

― Warren Buffett

 

[pixie85]

We haven't seen a 50% drop for a long while. I think the last time it was when USA announced a covid lockdown in 2020

Of course there will be another 50% drop but waiting for it means missing opportunities along the way. We could be up for another 8 months of bull market, you can never really tell until it happens.
I placed a small bet on the PI cycle yesterday and shorted 10% of my bitcoins at the top and it was a decent choice, but I have to say my hopes were higher. It looks like buyers are still strong and the bull market isn't going to end. I'll give it a few days and probably end up buying it all back as we go back up towards 65000.

[izsara]

Of course, everyone should take advantage of every situation, not just crypto exchanges hacks, there are news that can down the market, for instance the covid-19 scare last year. If average joes and institutions have bought bitcoin that time, then for sure they are in the profits as of today. But since we are in a bullish cycle, then bears should wait, don't try to short bitcoin as you will get REKT.

It is true that I experienced it when Covid 19, the drop in the price of crypto in the market dropped drastically, so at that time the confidence in crypto initially declined, but a few months later in late December Bitcoin proved it by sustaining the initial surge that made people views on crypto start to rise. restoring and trusting crypto is one way to save assets. on the other hand, hacking exploits the current condition as if playing with prices. there is their interference behind all this.

[matchi2011]

There are something you cannot take or manage in the market until you find solution to that particular thing before you can rest your mind.

There are many factors to consider before you manage to take all the necessarry actions and allow yourself
to chill out and take your opportunities.

During the pandemic many bitcoin users where busy rushing to sell their coins because of what they heard that bitcoin price will dump after pandemic.

Sad true, there are worried holders who sold their assets  thinking that the market will dumped with the pandemic.

Bitcoin price just hit $60k, but those who fail to do their research very well concerning the bitcoin price regret at the end of their transaction.

Lots are regretting as the market do the sideways instead of dumping, more on  pumping up!

[traderethereum]

If the market gets a big drop because of a hack or other negative news, I think that is the biggest moment for the investor to buy bitcoin because that will be the time for the price to drops.
If you are not panic because of that bad news, you can use it for your own benefits because that will be the discount time to buy any coins, especially for the potential coins such as bitcoin, ethereum, bnb and other coins.
But if you follow the others becoming panic, you will not see the sign to buy the coin as you only think about how you can save your money instead to invest more.
We have our own choice of what we should do related to the current situations, but I hope we can manage our emotion before we do something.

[bosede1]

I don't really get the fact or point you are aiming at. Should we be happy because the exchange price is down and the fact that hackers are active or.....

[LogitechMouse]

If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again

In short, if you see a bad news in the internet then that is the best time for us to accumulate Bitcoins and other altcoins.
I agree with what you said though that people are quitting in investing whenever they occur losses in their initial capital which is not a good attitude of an investor. As an investor especially in crypto where it is volatile, you must be ready with the movements of Bitcoin and other altcoins.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett

One of the most popular quotes in investing but unfortunately, not all of the investors are doing this thing. Most of them are panic selling when they see the market is down and FOMO'ing when the market is up . Newbie investors are the ones who are doing this kind of thing that is why they are ending up losing their money.

[slaman29]

This was the case last 2018 where a big Japanese exchange has been hack and just after a few hours after that news has been published, the price of the BTC in the market has dramatically subsided and it was almost a red market every day. But today, this kind of event will rarely happen because things have changed a lot since then. there are many companies that are involved in Bitcoins now and these guys are not playing around. As you can see, they are the main reason why the price has gained a historical All-Time High.

I don't remember this at all actually. I thought it was just the bad news about China banning Bitcoin again in 2017 plus all the forking business going on with civil war supposedly tearing up the Bitcoin community (plus the usual energy expensive mining activity that was causing global warming hahaha).

You're right though. I like bad news. Keeps our market healthy:)

[wack slacker]

With the current market trend going up rapidly, hacking of a large exchange is only a factor in slow growth. Buy the dip is my way of wealth. In my recent experience hacking exchanges only causes the market to increase in price even more. Bad news is also a way for exchanges to cash out those who are in a Long position in derivatives.

[adzino]

If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

― Warren Buffett

This is so selfish if you think it is awesome when an exchange gets hacked and the price drops. What if you were one of the users affected by the hack?  What if you lost all your coins in the exchange due to the breach? Would you like that? Would you still be happy when the price drops? No you won't, unless you are some sort of maniac a guy who enjoys these sorts of events.

[Fortify]

If the news will announced that major exchanges was hack or other big news and we see big drop in price for %50 this is awesome.
People tend to quit then instead of invest. Love the downs love the bear market this the best thing you could have.
History repeats itself and the price wil lgo parabolic again

You definitely need to be careful, do your research and have conviction when choosing to invest with anything. As you see plastered all over brokerages these days - past performance may not be an indicator of future results. If you own index funds then a recovery is pretty much guaranteed, however if you own individual company shares - like buying into Gamestop during it's recent peak, you might end up waiting forever to make your money back and you need to hope they don't go bankrupt in the meantime. You quoted Warren Buffett who was primarily talking about the stock market and crypto may not be a similar comparison. Companies produce products or services which they sell to produce an income, with cryptocurrency you're just hoping to sell it at a higher price than you bought in to make any profit. "Parabolic" is also an overly emotive term and trying to make money too quickly is where lots of people go wrong. Aim for a slow and steady approach to wealth generation, if you make money too fast it is very possible that you'll lose it all with the same speed.

[isaac_clarke22]

Well it is a guarantee to withdraw all the coins from an exchange whenever a hack happens anyway, but directly selling is a bit overreactive to this situation if your money is in the safe hands which is your own storage (could be hardware wallet or anything where you hold the private keys).

It is not always the case though. I remember the news back then when Binance was reported to be leaking data and it still pumped the price of BTC a little bit.

[Twentyonepaylots]

Totally get your point buddy. Always see an opportunity no matter how dire the situation is. Although that best applies to bitcoin, I don't think that ever applies to most coins in the market, especially those that don't have a solid following to begin with. This is why rugpulls are devastating to an investor. You're literally left with nothing to begin with and the guy who pulled a fast one on you is happy with the money he stole.

[acener]

I don't think that hacks could create such thing for me this is the same as FUD and it doesn't work well now.
Investor would wait for the hackers to sell to buy it I don't think that they would try to join and sell their holdings because of such news.
And it isn't easy when the price drops down investor would be careful on their next move not just jump in and try to pump the price,
They would be worry if it would recover or if it would continue to fall.
P.S but I do get your point no matter what kind of news it is we have to accept it.

[Mpamaegbu]

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

― Warren Buffett

The irony of the quote is that Mr Buffet even forgot to apply his principle on Bitcoin and bought it big a decade ago when most people were scared and called it a bubble 🤷. It goes to show that even doctors don't like taking their own prescription.

Buying during panic sale is what defines sensible risk and unnecessary risk. Sometimes one may be buying into a total dump where project teams are exiting (unnecessary risk), thinking it's a correction or the act of weak hands (sensible risk). Whether hacks or not, tokens will always pass through price crash from time to time and it's never an easy decision buying during a crash in price because you may never know why the crash. That's why it's VERY important yo DYOR before buying any token.

[lepbagong]

You want to be selfish  how will you feel if you are part of the people that will lose their coin due to the hack. I've experienced this although not on exchange but on MEW and I know how it feels to lose something you worked for. It is true the price will drop due to panic sell but someone like you want to take that advantage in order to buy more coin 

maybe most of them have experienced losing their coins just like you, of course it is very painful what's more, it is a coin that we save to use for development with trading, but lost is taken by people. Your lost incident in MEW is the same as mine, so I have to change it again, but now I don't use a private key but with a JSON file, so there is better protection. because if you use a private key it is very prone to be recognized compared to the JSON file.
but it all ultimately depends on what we do not to be careless because usually it is mostly due to our own fault.

[ChiBitCTy]

I am not sure if bad news is really what you want to be hearing.  I understand exactly what you're saying here though.  You want stuff to come up in the news where people who are less savvy/educated on the topic will sell so you can then go buy low.  I feel you there, and wish for the same in all investments I believe in..but sometimes bad news is just that, bad.  Some bad news could damage bitcoin in a very harmful way so I would be careful in saying you "love bad news', because not all bad is good.

[Leviathan.007]

That's exactly what I said a few weeks ago when bitcoin was doing a little correcting to save some more potential to reach the higher levels. I actually love the bad fundamental news about bitcoin in this situation because any bad fundamental news can make the price decrease for a bit and during this time the market will give us some discount to buy bitcoin with cheaper price. We much be a buyer when everyone is panic selling.