A quick reminder from Eric Adams, mayor of the City of New York.

[Darker45]

Hey folks, Bitcoin is coming down, hitting a certain price never before seen in probably 90 days. I know that's not really bothersome. We've been in countless similar situations in the past. But we know others are probably troubled when Bitcoin is losing almost 40% from its ATH price. The fear level has risen. As a matter of fact, extreme fear is being recorded for the last couple of days.^[1]

Perhaps a reminder from the mayor of New York City could help ease the fear. Take note that this is the man who promised to take his first 3 paychecks in Bitcoin as mayor. When asked if he had received his paycheck in Bitcoin already, and was told that the price of Bitcoin has come down, he simply laughed it off saying, "Well, you know what, sometimes the best time to buy is when things come down so when you go back up you've made a good profit..."^[2]

So, there you go, as simple as that; these are buying days, folks! Let's all enjoy the bargain sale!

[1] https://alternative.me/crypto/fear-and-greed-index/
[2] https://twitter.com/SquawkCNBC/status/1479069915281870853

[jackg]

Is he going to be hoping the price stays low for the next two months then too .

It doesn't seem too long since we were at $29k levels and there was a lot of bearish panic then.

[cabron]

By the looks of it, he hesitates to say Yes. But it's good to know he has yet not received his first check or he'd lose some money already. In the past 12 years, history kept repeating itself.  The downtrend is always going to be temporary.

Is he going to be hoping the price stays low for the next two months then too .

It doesn't seem too long since we were at $29k levels and there was a lot of bearish panic then.

It'd be tragic to see more panic when that happens. But I'm sure there will be a lot of traders here happy to buy at a low price including the mayor.

[Darker45]

Is he going to be hoping the price stays low for the next two months then too .

It doesn't seem too long since we were at $29k levels and there was a lot of bearish panic then.

That was also the remark made by Andrew, that perhaps the mayor must be hoping for the price to come down. Well, if I were him, I would hope so. As a matter of fact, I do hope it will come down a little bit more. I'm also paid in Bitcoin, you know.

A bearish panic will always be normal every time the price goes down. But in the bigger picture, we're happy that we are feeling bearish and fearful at $43,000. We used to be having the same feeling at $3,000 and then at $6,000, $9,000, $12,000, and so on. In the near future, we will be feeling bearish and fearful at $96,000, $130,000, $210,000, and so forth.

[so98nn]

Oh yeah, the bargain sale has come like a Christmas gift for all of us. I’m not surprised at all with the prices going down. Pick up the history chapter from any year and you will see that at the beginning of any year the crypto would be bathing in red and making its way to ATL (All to Low) of that year or marginal space.

This is an immensely great opportunity for all of us to bag more coins.

I salute to the Mayor that he is sticking to his words and also motivating all of us that he is still positive no matter how much the price has dropped for the bitcoin.

[DapanasFruit]

Indeed, anybody who is into Bitcoin or cryptocurrency for that matter already fully gets it that in BTC there is always that cycle happening over and over again and since there is some element of predictability on it that itself can be a good opportunity to get into. So get in while the price is so slow and then just wait because just as the sun can be rising tomorrow definitely Bitcoin's price is going to be back on track. In fact, am sure that institutional buyers are now on standby and just determining the right timing to buy more. So let's allow the dip to take Bitcoin to where it wants to...because soon a new bright day can be coming.

[Poker Player]

Yes, I think all of us who invest in Bitcoin for the long term are clear about that. If the price goes down, we have a better opportunity to buy, what happens is that we like it to go up to see that the value of what we already have invested goes up.

Although some people are very pessimistic when prices go down, in this case it is added that the price predictions for 2021 failed and the price is well below what many expected, which adds more pessimism to the usual pessimism.

[davis196]

I couldn't care less about the opinions of the New York City major in regards to Bitcoin.
The winter season(January-February) isn't the best time for Bitcoin,the 2021 winter was the only exception.
The Bitcoin price dropping makes me sad,but I can't do anything about it.They only thing we can do right now is the HODL and waiting for another bullish market in the next months,or maybe in 2023.
There are no bullish new,which can pump the price.The FUD will keep growing.
Perhaps the situation will change during the spring,when the world will overcome another wave of the pandemic.

[mk4]

Times like this when assets are down across the board, it obviously shows who the over-invested ones are. Always have cash ready(or at least a steady source of income), and avoid using leverage as much as possible unless you really know what you're doing.

[rhomelmabini]

Others tend to make it complicated tbh. Well, we need mainstream for this sometimes but a true believer will not be worried even if a known Mayor was having his thoughts of hope or not. Whatever goes down may come back up, there's nothing permanent. This isn't the rok bottom of Bitcoin, we've already send far worse and to get to the top we really need corrections.

[Lucius]

I couldn't care less about the opinions of the New York City major in regards to Bitcoin.

His opinion may be relevant to people living in that city or the US, but I agree that for the rest of us it means absolutely nothing - because even though I follow the situation in the US, I wouldn’t know who the mayor of NY is if someone asked me.

But we know others are probably troubled when Bitcoin is losing almost 40% from its ATH price. The fear level has risen. As a matter of fact, extreme fear is being recorded for the last couple of days.^[1]

Rare are those who are not upset with the development of events, and this includes those experienced who have already experienced similar things. Expectations were too high, people were investing in hopes of $100k by the end of the year, and now the question is where the price will stop. Those who can wait and will not sell in the long run will probably not lose anything, but a lot of weak hands have already lost money and will continue to do so in the coming days. Another big reminder for all those who live in the belief that it is easy to get rich overnight, Bitcoin is always preparing surprises - they are just not always good.

[franky1]

ATH is never a guage of the sustained value bitcoin should be at..today
ATH is a spike bubble of overhype. never a number to gauge as a stable value today

never ever assume that bitcoins value should remain at a ATH. always assume the ATH is a temporary blip that corrects down.

the actual sustained value is about ~$30k plus. anything above that is the speculative volatile up and down of human emotion.

yes in the future as the bottomline value increases it can increase beyond a previous ATH from years prior.
but when a new ATH happens now dont take this recent ATH as "sustained value" now

so treat the ATH as a guide to the future. and if you see prices today lower then ATH then you know buying now is going to get you profit in the future

[tomahawk9]

Perhaps a reminder from the mayor of New York City could help ease the fear.

Nah, i don't believe it'll help at all. Since when does the average joe or average crypto user cares about the paycheck of a politician? only thing that could ease the fear right now is green candles and green numbers in the charts, some upward movement, a full stop to this downtrend once and for all

"Well, you know what, sometimes the best time to buy is when things come down so when you go back up you've made a good profit..."^[2]

i'm gonna go out on a limb and say that the majority of peole who will follow his advice right now do not know how dangerous it is to catch a falling knife in the cryptomarket, or how long it could take for them to "make good profit", or how you should do your own research before taking someone's advice about finances and cryptocurrencies,, now that's a lot of assumptions mind you, but i've seen similar behaviour in the past (downtrend in the market, newcomers following an authoritative figure's advice cos they wanna make a quick buck, etc), so i think what i said is not too far off the mark... All in all, not the best advice to tell others to buy when prices go down sharply, let alone doing it when the downward pressure is still present

[Welsh]

Is he going to be hoping the price stays low for the next two months then too .

It doesn't seem too long since we were at $29k levels and there was a lot of bearish panic then.

If you think about it, and this opinion aligns with the quote above, if you're going to be involved with Bitcoin for the foreseeable future, and you aren't trading it frequently then we should all we hoping that Bitcoin stays as low as possible so that you have as much of a profit as possible when it does go up, which I think a lot of us truly believe we haven't yet seen the ceiling of Bitcoin in terms of price.

I couldn't care less about the opinions of the New York City major in regards to Bitcoin.

Its not his opinion that matters here, its his logic. Like I said above, if you're invested for the long term, then you shouldn't get too down about the current price of Bitcoin. In fact, you should probably be happy about it.

[Yaunfitda]

Oh well the bear market has come in early as compare to the last cycle in 2018 wherein it was after the first quarter although the price has been declining since January-March that year.

In any case, for those who have been there before, then we should know what to do (fill our bags with cheap bitcoins and then wait for the next bull run). As for the mayor, maybe what he is saying is true, or perhaps he has seen this as well and probably will buy at the dip. 

[stompix]

When asked if he had received his paycheck in Bitcoin already, and was told that the price of Bitcoin has come down, he simply laughed it off saying, "Well, you know what, sometimes the best time to buy is when things come down so when you go back up you've made a good profit..."^[2]

One thing you might have missed. 
He is in office since January 1, 2022, he hasn't yet received any check bitcoin, so he isn't affected at all by the drop, he hasn't got any money at stake to date.
So of course it's easy to laugh it off, who wouldn't?

[ChiBitCTy]

The mayor Of New York here isn’t wrong. We have been in this situation a multitude of times throughout the years.  We have to keep in mind that bitcoin is still in the “first inning”. Rome was r built overnight. This thing is going to take time and we are going to see a lot of ups and downs.

[amishmanish]

Bitcoin going down right now with the stock markets tells me two things:

1. It continues to be paper-handed by traders and newbies alike.
2. They still don't get it.

Stocks move and everybody starts selling. Let it go down and keep going down till only those remain who want to buy Bitcoin because they want to hold a truly decentralized asset, not because "numbers go up".

That being said, I would love to know that how many of those paper hands move to crypto stablecoins and how much of that change is due to retail just cashing out from the fear of a crash.

[Welsh]

One thing you might have missed. 
He is in office since January 1, 2022, he hasn't yet received any check bitcoin, so he isn't affected at all by the drop, he hasn't got any money at stake to date.
So of course it's easy to laugh it off, who wouldn't?

Yeah, since then we've take a dip assuming it continues or stabilizes here for a bit, he would have gone down a pretty decent amount since he was due to be in office. So, in all likelihood him receiving his pay check while the price is down probably benefits him so he earns more when/if it increases again. I get your point though, he's probably going to be paid in Bitcoin, but the amount will likely be pegged to fiat.

[avikz]

So, there you go, as simple as that; these are buying days, folks! Let's all enjoy the bargain sale!

Absolutely! It's time to buy only! However, there are many people who have invested during ATH and now facing huge losses. It's a repetition of 2017. People who had purchased at 22k level was in shock when bitcoin price went back to 3k level. But now they are in huge profit.

It's all about time and also depends on how well you find opportunities knocking at your door.