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[Casdinyard]

Years pass, cycles pass, but nothing changes.

I wonder how much longer it will take for people to realize that low prices are a CHANCE to buy, not some kind of disappointment. Instead of taking this chance, they are burying bitcoin. Instead of taking profits or enjoying an increase in the value of their assets, they start buying. They buy at the top of the market, and then they say that bitcoin is a pyramid scheme and a scam. Now I am talking to some people IRL, who are also interested in cryptocurrencies.

I ask: Have you already bought bitcoin?
Answer: No. I'll wait until he recovers.

It's all a matter of who's stupid enough to not research about bitcoin before investing really. You would notice that along with the pattern you mentioned, the people who are repeat offenders of this war crime (the use of war crime here is a joke, I cannot stress this enough) is those who just heard or saw bitcoin on a newsdaily article and immediately jumped to investing without prior knowledge about the dangers and the potentials. It has been like that since time immemorial. This is mainly caused by the fact that the media sensationalizes bitcoin's rise in price but doesn't talk even a little about it when the price drops. People are easily persuaded when there's price increase so the cycle starts again and again.

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[hulla]

Any cryptocurrency investor or enthusiast who doesn't have an interest in buying Bitcoin during this bear market is either new to the market or doesn't have the financial ability to buy BTC.
But if this topic was about the trend of Bitcoin, it does mean people are not buying in this bear market.

[lienfaye]

Some people are not buying during bear season because they're afraid the price might dropped further, hence they prefer to wait once the price is already recovering. I think that's understandable because they just don't want to experience having losses. However, if you're a wise investor, has knowledge about Bitcoin and its history, and your goal is to be a huge gainer in the future, we know the cheaper price is the best time to buy since you can accumulate more. It's really an opportunity if you're taking it in a positive way, but not all can appreciate this season because they can't sell to take profit while other weak investors are selling at loss then quit.

This is the reason why people who have knowledge on what they're getting into and has patience to wait (even it takes a long period) are the ones who have the chance to gain in the future. But keep in mind that regardless how profitable it can be, the risk is always there hence be prepared since anything is possible to happen.

[noorman0]

If in the illustration, a crowd of buyers is queuing at $20k, at that time the price will be $20k stagnant but increasing slowly until it hits $60k or beyond. I think that pensive dude is also not stupid to sell cheaper if the current demand increases.

[Solosanz]

Actually you're not completely correct because if you look on Bitcoin market at Coingecko or Coinmarketcap, there's huge trading volume in bear market. This mean people are buying Bitcoin right now, but we don't know which person who bought it. IMO most of the buyers are whale or company who looking for long term since they have enough money when the worst thing happen. While most retails are scared to buy Bitcoin right now since they think Bitcoin would go lower and lower.

[Minor Miner]

This only happens to newbies, who do not buy bitcoins during the bear market because they fear that bitcoin will drop further or they think that it is dying but when bitcoin goes up again, they start buying because they think they're missing something, they start buying without knowing its price is already very high.

Bitcoin is for everyone but not everyone knows how to take advantage of it to their benefit. Investing in bitcoin is like participating in a game where the winners will be those who know the rules of the game and persevere to the end.

[xSkylarx]

Actually, this kind of people don't have knowledge or don't trust bitcoin at first, but when bitcoin makes its way to its ATH, that's when people start buying it at the peak. When it goes down again, people who bought at the peak will again say bitcoin is a scam, but when bitcoin hits its ATH again, it will be its second ATH. People again bought it, even if it was more expensive. Lack of knowledge could lead to losses. I am just hoping that those who bought at a high price are still holding, but I am sure they already sold it at a low price.

[laurenB7742]

Actually you're not completely correct because if you look on Bitcoin market at Coingecko or Coinmarketcap, there's huge trading volume in bear market. This mean people are buying Bitcoin right now, but we don't know which person who bought it. IMO most of the buyers are whale or company who looking for long term since they have enough money when the worst thing happen. While most retails are scared to buy Bitcoin right now since they think Bitcoin would go lower and lower.

If you pay attention you will see that the trading volume in the bull market is the same and even much higher, trading volume is calculated by all transactions being executed on all exchanges or any transactions on the blockchain. That is, includes trades made by day traders, not just buy and hold so it can't be said that people buy a lot during bear season. If people are buying then I think bitcoin will never drop from 69k to 20k, if people don't dump the price will never drop.

[franky1]

what some dont realise is this

when there is alot of active trading
there could be 1000 traders an hour buying coin at stages of
20,000.01 20,000.02
where the price only moved in the region of 20,0X0.00
meaning the price only changed by $10-$100

where as at $69k there might just be 4 traders still willing to buy
69,300.00 69,600.00 69,900.00 70,100.00

where its the last few traders are making the price move by $300-$1k

other things are that if a regular minnow investor only invests $400 at a price point of $20k.. they are not then spending $1.2k when the price is $60k
what you find is they get 0.02 at $20k and only get 0.006 at $60k

..
many people think the amount of traders queued up at $69k is more users buying than at the $20k mark
many people think the amount of traders queued up at $69k are physically paying 3.5x as much fiat as they would at $20k

but this is not the case

[Darker45]

1. I guess people have generally low risk appetite. Normally, people would rather be safe than sorry. That's something inculcated in our brains since we're young. That must be the same attitude prevailing even in terms of investment and finance in general.

2. There's also the fact that many are simply emotional, a characteristic that has very little to no place in the world of investment. Seldom do we see somebody who celebrates when prices are falling. When charts are full of blood, the majority are feeling down. It is noticeably ironic that people show extreme fear when the prices are low and extreme greed when the prices are high, resulting to many buying high and selling low.

3. There's finally the fact that a lot are not really familiar with Bitcoin and its fundamental features. To a certain extent, I believe in some who say that once somebody gets to know Bitcoin, he/she can't stop buying. So those who are fearful, aren't buying, probably don't know Bitcoin yet.

[EarnOnVictor]

I ask: Have you already bought bitcoin?
Answer: No. I'll wait until he recovers.

Perhaps, this fellow is ignorant of the investments in the financial market. It is always better to buy your asset when they are cheap, that is how much profit would be made. The investor would be lowering risk by doing that also, unlike buying the asset at higher prices, the risk would be higher in that sense.

Bitcoin however follows the same principles of investment, and I believe the OP should assist in further guidance as this person is totally naive.

[Pmalek]

The herd mentality is a weird one. Because history has a tendency to repeat itself, we are going to see the same all over again. Most people don't want to bother with an investment like bitcoin in times where it doesn't look good. In the last months, it looks really bad. As soon as it recovers, and it will, public opinion will change. The media is a driving force whether we like it or not. When bitcoin gets some publicity in mass media with news reports talking about how the prices have gone up 40-50 percent in the last month or two, that's when the public begins investing expecting even better returns. 

[DaveF]

I will keep saying that different people want different things from BTC. Yes just about everyone wants to see their money grow. But people looking for short term growth are going to want the price of BTC to move in a different way then people who want mid term or long term growth.

Add in all the other factors and you are going to get people looking at their buy in price in a totally different way then the next person who may want the same thing.

Kind of like some people buy homes that need renovation and a lot of work to take care of all those issues and flip them for a profit. Where other people may buy a house that needs nothing but the price is depressed for some reason, and all they are going to do is sit on the property till the price recovers.

-Dave

[jokers10]

...
I ask: Have you already bought bitcoin?
Answer: No. I'll wait until he recovers.

If it was not natural behavior for human being then how would whales earn their money on the waves they make? Otherwise Bitcoin rate changes to rather stable USD were more equable. But we live a a world we have with humans behaving as usual and that's why whales play with Bitcoin and that's why it's rate to USD is so volatile.

[glendall]

new entrants will always enter when the market is up / the price is high from the previous year, because they are carried away by the bitcoin hype itself, and when bitcoin goes down they panic and they release their bitcoin at a low price,
but undeniably this is the bitcoin cycle for beginners,
and does not apply to old investors who already understand the bitcoin cycle when to buy and when to release to get profits

[Bazzu]

a very interesting topic, and at the same time reminiscent of my own experience, I used to always buy bitcoin at high prices, but when bitcoin went down I was strangely afraid to buy, because what I was afraid of was after buying bitcoin the price would fall even deeper. so afraid to lose. whereas with the price dropping it is a good opportunity to buy, and having excessive fear that is the hurdle we have to face.

[danadc]

Actually you're not completely correct because if you look on Bitcoin market at Coingecko or Coinmarketcap, there's huge trading volume in bear market. This mean people are buying Bitcoin right now, but we don't know which person who bought it. IMO most of the buyers are whale or company who looking for long term since they have enough money when the worst thing happen. While most retails are scared to buy Bitcoin right now since they think Bitcoin would go lower and lower.

If you pay attention you will see that the trading volume in the bull market is the same and even much higher, trading volume is calculated by all transactions being executed on all exchanges or any transactions on the blockchain. That is, includes trades made by day traders, not just buy and hold so it can't be said that people buy a lot during bear season. If people are buying then I think bitcoin will never drop from 69k to 20k, if people don't dump the price will never drop.

What I think is that people eat with what they see, if they see that bitcoin is at $20k knowing that its last maximum was for $70k they don't buy it, but if they see that it rises to $80k they buy it, This is something that always happens before, it's like when we need to buy gifts for Christmas Eve, we don't buy them at this time October-November, everything is a little cheaper, if we leave it until December, it won't cost the same, because the demand it increases and the supply decreases, and since Bitcoins are limited, it is something that is not understood but it works that way because people eat with their eyes and get carried away by what they feel.

[kryptqnick]

Some people do buy during the bear market, but yeah, the hype is always when the prices are high. People don't buy when it's low because they don't believe in it. They don't believe it will recover, and they feel like the bottom also wasn't reached. So they think that if they buy at $20k, and then it falls to $15k, it would be very sad and they'll lose money. When the price is growing rapidly, they figure that they'll buy at $60k, and in a matter of weeks it will already be $65k, so they'll win. It feels safer, unless you believe that Bitcoin always recovers and will recover again. To be honest, I don't think the majority will ever learn from this. Some who've made this mistake earlier might not make it again, but then more newbies will join the market when it's bullish and will make these mistakes.

[ajiz138]

During the bear market, there are still a lot of doubts because they are afraid that when they buy the price will go down but strange when bitcoin is at its peak many are queuing to buy even though the logic is that it is impossible to build wealth at high prices, especially when the market is bullish but in reality we have to know the bear market is a good opportunity to buy and just waiting for patience to recover, we must know that this cycle will surely repeat itself but for some reason those who are mentally weak are always hesitant to buy now.

For me the opportunity now to buy more bitcoins and just waiting for the results to be picked at a later date will be a fun day.
If someone asks me when to buy and he says wait for the price to recover then I say again you will never be rich.

[imamusma]

I wonder how much longer it will take for people to realize that low prices are a CHANCE to buy, not some kind of disappointment.

I suspect there are many reasons that accompany people not to buy cheap in 2022 so it may not always be about fear. It was the economy and inflation that forced me to adjust spending and investment, so to be honest a lot of people would probably think the same as me even though they actually bought less than they wanted to buy.

They buy at the top of the market, and then they say that bitcoin is a pyramid scheme and a scam.

Don't tell that to those who actually know about the workings of the crypto market especially bitcoin in the last more one decade, but it might seem true if they are newbie trying to hope to get rich overnight.