Too many chickens own BTC. Don't be a chicken, HODL! BE A LION.

[michellee]

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I don't totally agree with you on this one. People sell their cryptocurrency asset for many different reasons and that doesn't make them chicken, and holding on to a particular crypto asset doesn't make you a lion.

Someone might be in urgent need of money decide to sell some of his crypto asset, does this now amount to being a chicken?

You need to be smart in other to survive in this space and knowing when to sell and when to hodl is a very important aspect of survival.

When they decide to invest, they should already have their own budget that won't mix with their daily budget or budget for urgent needs. And if an urgent need requires money, it will not interfere with their investment because they have savings specifically used if there is an urgent need for money. So everything can still run according to their respective proportions. Investments can continue, while they can fill the sudden need at the right time.

[wxa7115]

The goal right now is to HODL. Buying at 60000 and selling now is not a good business strategy. Bitcoin is not for the faint of heart. The majority are already panicking even after what happened to FTX. The op said that 1 bitcoin equals 1 bitcoin, which is not a bad mental strategy. Most of the time, I just avoid repeatedly checking the market to keep my cool. And another important thing let’s avoid leaving our funds in an exchange due to not your keys not your coin.

For those of us which have years of experience holding our coins it is not too much of a challenge to hold our coins under the current circumstances, but we cannot deny that for those that bought near the ATH it is difficult to hold their coins when the price has gone so low.

However those people need to take a long term approach to bitcoin, even if that was not their initial intention when they invested in this market, as selling right now will consolidate their losses, while waiting for a few years is exactly what they need to become profitable again despite their high buying price.

[virtualdn]

Don't be name calling now, it's a game that turns against you

But on an actually serious note, you know without sellers, there aren't buyers? Gotta learn to appreciate the chickens, or sellers, if you will. How else do we rely on regular purges to shake out the market and reveal the shiny solid foundations that we can build on?

Probably a matter of unfortunate timing for the cycle to come down just as the global economy's also buckling, but enjoy the drama, as you put it. When BTC is stable above 100k you might see yourself looking back with envy.

I'm helping, sometimes people need to wake up and see the truth.

Everyone was a chicken in life, including me, now it's time to change your mentality.

I was a chicken too (not everything relates to BTC) but now I'm a lion and I'm planning to remain a lion.

HODL! Be a LION.

This doesn't mean you should never sell! BTC is made for spending after all. Just sell when you gain not when you are losing.

[DeathAngel]

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

[Davidvictorson]

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I beg to differ. Nobody is a chicken for not being able to hold for long term. Consequently, nobody is a Lion for hodling for the long term. We are different people with different experiences, goals and objectives about bitcoin. While some persons may have the, "we live to fight another day" mentality others may have the "we die here" mentality. Whatever the mental philosophy may be, both are perfectly fine. Just do you.

[Issa56]

It looks like the price is going to fall for a while now. Musk said winter is long. This bear market will last for a long time.

No matter how bitcoin dump, no matter how long its going to take before bitcon bounce back am definitely going to hold, I dont care about what musk say, I know his not really having good intention towards bitcoin, but he can't do anything to stop bitcoin, Bitcoin will definitely bounce back again and am going to hold my bitcoin, no matter how long it will take before it bounce back am holding my bitcon and even in the next bull run am not ready to sell my bitcoin.

When this bear market passes, not many people will stay in cryptocurrencies. When the bull market came, they saw that the price of Bitcoin was going to jump up again.

I think lot's of people will definitely leave cryptocurrency during this bear market, some people will sell their coin and leave, but I think most people that will do that are newbies that are just joining cryptocurrency and don't know much about cryptocurrency, but people that have stayed long in Cryptocurrency won't leave crypto after the bear market, because they know the bear market is normal.

[m2017]

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

And with each new cycle, beginners come, for whom such a fall of btc, as it will now be for the first time. They come with the hope that bitcoin will rise in price and make them rich, very quickly and without any serious effort. But the point is that will have to make an effort to keep yourself in control at such moments and not sell btc in a falling market. Of course, many of them will turn out to be those clings that OP writes about. Nothing to do or fix here. This story repeats with each cycle over and over again. They are weak because they are not able to show strength and keep their BTC in their hands and sell under the influence of panic.

[Flexystar]

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

Love it. That actually ends the whole melodrama here and we can continue on focusing to HODL as long as we could. I am not claiming I am perfect hodler but I know one thing for sure, HODLING is really really important and it can give back fruitful results in the future. I only keep selling a portion of it all the time as and when required but I make sure that I contribute the similar amount back to my HODLINGS.

I wish I could keep buying more all the time. Right now I am literally shaking to collect funds somehow from different jobs and put into bitcoin considering the prices it has. :-D

I wish I would have been miner or manager whose getting paid in bitcoins. Seriously good times to buy more!

[crunck]

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

That's exactly what financial markets are doing, not only with cryptocurrencies but also with forex or stocks. Money will go from the weak to the strong, from the inexperienced to the experienced. We can't expect everyone to win, money can't be generated by itself, it can only be transferred from person to person.

[kryptqnick]

I believe people should make their own financial decisions. While I strongly believe the market will recover and selling now at a loss doesn't make sense, I say people who don't believe in Bitcoin and its recovery should leave if that's what they feel like doing. One shouldn't hodl if one doesn't believe in hodling.
Not selling any BTC since 2013 is very impressive, but if by that the op also means not spending any BTC, it means that the op hasn't used BTC and thus hasn't benefited from that wealth for almost 10 years now. And what's the point of having wealth if you're not using it, not benefiting from it? Unless, of course, a person has other significant resources and BTC is saved up for something truly big/for being old/for children.
I see from the thread the op isn't planning to sell at $100k either, but does want to fulfil dreams with it. So is there a target, a point at which BTC will be spent or sold?

[GideonGono]

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

We all have different circumstances in our life others need to cut loss in order to survive while other have the privileges to HODL because they could live on with it.
Not everyone is lucky enought to have that kind of privilege, I know most of the time we would tell the investors or trader to invest only what they could afford to lose so they could also hold it like you,
But in reality it doesn't happen that way people would be greedy to invest more than they could because of the higher profit that they are aiming.

[TheUltraElite]

Most people know that valuation of 1BTC is always 1BTC but they easily forget this and the fact that one day the cycle will start to reverse. For them the immediate value in fiat is of more importance. This is the reason why most people find trading a speculative asset.

Even then there will be a niche of users who are regularly trading and these people are the ones making the big profits with every good/bad news. Holding and having patience works a great deal in such times. Lack of patience leads to losses.

Sadly most of the people getting into crypto lack patience and thus the crashes that happen with weak hands selling.

[coolcoinz]

I'm pretty much like OP. I still have coins that I got in 2015 and sold maybe 20% of my holdings between 2017 and 2021. I haven't sold anything for almost a year and if bitcoin never goes above 30k again, I don't think that I'll sell anything. I'm not saying that I won't do it for sure because if I find myself dying and in need of expensive medicine or procedure, I'll sell some. You can't make any money if you're dead.

My plan that I've followed for the last 8 years remains the same. When bitcoin is above the ath from last cycle I start spending my coins buying the things that I need and building up my cash reserve. Each time bitcoin breaks a significant round level above the last ATH I repeat the process, but that's never more than 10% of my coins each cycle, which is why I still have most of what I got in 2015 and 16.

I'm not a trader. Holding coins on exchanges always felt risky to me which is why I only send the money I'm willing to convert and do it right away.

People have different goals in life. Some want to make the most fiat money out of their bitcoin in the shortest amount of time but others want to hold bitcoin as a safe alternative that also appreciates in value. I could sell a few coins and buy a lambo, but I don't need it. I live in an area where you need a good pickup truck with 4x4 and not a sports car. I don't need designer clothes or my own swimming pool. I feel better and more confident holding bitcoin than spending it.

[Natalim]

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I don't totally agree with you on this one. People sell their cryptocurrency asset for many different reasons and that doesn't make them chicken, and holding on to a particular crypto asset doesn't make you a lion.

Someone might be in urgent need of money decide to sell some of his crypto asset, does this now amount to being a chicken?

You need to be smart in other to survive in this space and knowing when to sell and when to hodl is a very important aspect of survival.

When they decide to invest, they should already have their own budget that won't mix with their daily budget or budget for urgent needs. And if an urgent need requires money, it will not interfere with their investment because they have savings specifically used if there is an urgent need for money. So everything can still run according to their respective proportions. Investments can continue, while they can fill the sudden need at the right time.

I agree with this. Investment and emergency needs should be in a different portfolio and not mixed with each other, moreover, I seriously do not think that people will invest to save or thinking of their investments as a savings that they will dig if there's an urgent things. It should be in a different folder, just like your basic needs and monthly bills.

[Victorik]

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I beg to differ. Nobody is a chicken for not being able to hold for long term. Consequently, nobody is a Lion for hodling for the long term. We are different people with different experiences, goals and objectives about bitcoin. While some persons may have the, "we live to fight another day" mentality others may have the "we die here" mentality. Whatever the mental philosophy may be, both are perfectly fine. Just do you.

You spoke my mind aptly.
Selling doesn't make anyone a chicken and hodling doesn't make anyone a lion either.

Another angle to it is this, what if everyone decides to hodl on to a particular cryptocurrency asset, it definitely will not be healthy for such project. People needs to sell, so that others can find an entry to buy more.

Moreso,. people have their individual reason for investing in an asset, so, when they achieve that aim, they could sell and leave.

[buwaytress]

Probably a matter of unfortunate timing for the cycle to come down just as the global economy's also buckling, but enjoy the drama, as you put it. When BTC is stable above 100k you might see yourself looking back with envy.

I'm helping, sometimes people need to wake up and see the truth.

Everyone was a chicken in life, including me, now it's time to change your mentality.

I was a chicken too (not everything relates to BTC) but now I'm a lion and I'm planning to remain a lion.

HODL! Be a LION.

This doesn't mean you should never sell! BTC is made for spending after all. Just sell when you gain not when you are losing.

I doubt it's possible for people to "wake up" in general. Even for me to change my mind about something I'm pretty set on, not possible except in the wildest of circumstances. Sort of why I don't think awareness is useful (everyone protests and says it's for awareness but I think it's apathy really that's the problem).

In any case, good luck with being a lion. And yeah, spend, when you can. Bitcoin's true value is helped on by all of us continuing to use it.

[eaLiTy]

Be a lion. Have the mentality of a lion, not the one of a chicken. Come back to this thread in 10 years and tell me I was wrong. Better fail as a lion than run as a chicken. This is my mentality folks, hope many of you think the same.

BTCitcoin is created to be used as a currency and not to HOLD till eternity. You are contradict your statements, if 1 BTC = 1 BTC then what is your point of holding and not using it as a currency  .

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

I wish there are more users that use them as a currency rather than a speculative asset. So you claim that you are a $100k chicken because you would eventually sell only at that valuation  . There is nothing wrong in being smart and taking advantage of the market situation and play by the simple rules of buy low and sell high.

[Codswallop]

It’s okay because not everyone is as confident in their decision making skills as you may be. Everyone has a different goal so we need to respect that. Those who wish to hold, should continue and those who want to sell, should do as they please.

[ethereumhunter]

It’s okay because not everyone is as confident in their decision making skills as you may be. Everyone has a different goal so we need to respect that. Those who wish to hold, should continue and those who want to sell, should do as they please.

If they are not confident, they should not decide to invest in bitcoin because before they decide to invest in bitcoin, they should have researched more information about what the benefits of bitcoin are for them. If they only follow what others suggest and don't look for other information, it can cause them to be insecure and panic if something bad like a price drop occurs. But those who already understand the risks of investing in bitcoin will not panic and can keep holding their bitcoins because they know that the price will increase again.

[TheUltraElite]

It’s okay because not everyone is as confident in their decision making skills as you may be. Everyone has a different goal so we need to respect that. Those who wish to hold, should continue and those who want to sell, should do as they please.

Fact is if the weak hands dont sell, the whales get nothing to buy at a discount, so as long as there are weak hands there will be whales and the speculative market will continue like usual. There is nothing about being a chicken as long as you are making a profit. I too consider people to have their own opinions and exercise them freely.

Often people are in dire need of money and they have to sell at losses, you have to blame the circumstances for that not a wronged decision. Now there are people who are selling at loss because they are sick of holding after buying at a high, these people have made a mistake in trading at the wrong price, so they learn their lesson.