I hope this Bitcoin dip won't be deeper?

[Crptomagma]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

[1713581536]

1713581536

[Kemarit]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

Every bear market is worst for bitcoin and crypto, and this is not an exception. And if you look at it's past history, you can see that we can recover and bounce back from this crypto winter or whatever others call it.

This is just part of the cycle and we can call it normal. Not sure how long you guys have been in the market. But for those who have seen bear market, this is not something that you lose hope. On the contrary, this is the time wherein you accumulate bitcoin because they are very cheap.

[tabas]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet.

Every single time that there's a dip for bitcoin, we consider it as a worst. Well, there have been many of those that have been the worse but I think 2018 is way worser than this year.

I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

Yes, buy the dip. That's all you need to do right now and remember all of the past things that has happened to bitcoin. Those worse years that have been too low when we've witnessed that. Compare today, this is nothing than of those. And if your friend is losing hope, don't be like him. Be a man for yourself since you've known bitcoin, cheer up because it won't last forever that we'll be sitting on this bear.

[bittraffic]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

Slim chance of this bear continuing upon looking at the monthly chart of BTC/USDT. This dump is just a short hiccup and will just bounce after a week. I speculate the price will go close to $22.000 by Dec or probably even to $24K. But this is just my forecast.

Tell your friend he is not alone. The year looks worse because there is an economic crisis and inflation is adding pain to our expenses.

[HeRetiK]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

First time?


Seriously though, the global economies and markets have taken a pretty large hit in a way that's unprecedented in Bitcoin's history, so expect the next few weeks and months to be rough. Yes, that means the dip might keep dipping for a while. No, that doesn't mean that all is lost and Bitcoin is going to zero.

It just means that you shouldn't throw in more money than you can afford to lose, otherwise if the price keeps dipping you might see yourself under enough financial and psychological distress that you see yourself forced to sell. If you're doing DCA, just keep doing what you're doing. Otherwise it's anyone's guess. The important part is that it's a decision that you need to be able to handle, both financially and psychologically.

[Frankolala]

You don't need to be scared this is normal bitcoin history is it goes up and comes down, the dip presently will continue till the almost the end of this year. This is the right time to buy more Holdl for yourself,don't be in a rush to sell due to panic. 2018 was worse than this year never can tell how dip it will get to before going up again.

The weak sells their bitcoin cheap because of panic in the bear market and loose their capital,while the strong buys more bitcoin in the bear market to gain big profit when bitcoin hits the bull market again. Since we know bitcoin price is cyclic you just need to patient with your investment.

[Aanuoluwatofunmi]

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

I don't have much to use in convincing you but it you truly understand bitcoin from any other crypto to be the only most outstanding one over time and yet never loose value despite the high recent volatility, just take a look on the fall history and number s of times it has been pronounced dead but yet alive and fine.


source

Graph of bitcoin dead over years but not announced as obituary yet.

[dlightag]

The bear market really affect many investors, like wise most bitcoin traders are also liquidated as i called a friend that into crypto trading futures, he was liquidated because he was not following fundamental analysis base on FTX and Cz Binance CEO of the both exchange agreement that affect the market sudden for a dip, Nevertheless Cryptocurrency business is good for a long term holding investment, which is dip in the market like this, have giving people another opportunity to invest.

[Welsh]

It'll recover, it'll just take time. A lot of people are losing money due to it, and that causes fear. Then for the ones that aren't losing money, are seeing the news, and then the price starts going down due to fear. It's a common cycle that we've seen before.

Any exchange that goes, will be replaced. Unfortunately, probably by a equally as bad exchange. Eventually, we'll transition to exchanges without wallets implemented, and only temporary holdings. Hopefully, eventually peer to peer exchanges become the norm, and therefore we avoid a lot of the losses that people are subject too, and therefore won't have these headlines any more.

Bitcoin has been tested, unprecedented times now being compounding by the FTX news. It'll probably either hover around this amount or go down a little more. However, I'm quite confident in a recovery, but probably not until sometime in the new year.

[bakasabo]

Why so many people are worried so much about current dip? People that have bought Bitcoin in 2018 or earlier are looking on those who create panic today, and smile. Also I dont understand why people even create panic. When they go to the shop and see that week ago bananas cost 2 EUR, but today they are at 0.99, or buy something with huge discounts - they call it a good bargain. But when they see that Bitcoin once cost $69k, and now it costs $16k, then they start to scream. If Bitcoin goes deeper - buy more. Scared - just pass by. Dont have money - pass by.

[glendall]

2022 is not over yet so we can't say for sure that this year is bitcoin's worst year, because in reality bitcoin continues to struggle to restore value even though it is very difficult and not as fast as when it was hype in 2020 yesterday,
when you enter and invest you should know the biggest risk of this investment, with patience and persistence you will definitely get a profit
so don't worry about the decline because the bitcoin cycle has been confirmed for 4 years

[DaNNy001]

2022 is not over yet so we can't say for sure that this year is bitcoin's worst year, because in reality bitcoin continues to struggle to restore value even though it is very difficult and not as fast as when it was hype in 2020 yesterday,
when you enter and invest you should know the biggest risk of this investment, with patience and persistence you will definitely get a profit
so don't worry about the decline because the bitcoin cycle has been confirmed for 4 years

I agree with you 2022 is not over yet and this is not actually the worst year.. But unlike others I think we should see this as golden opportunity to invest because I know for sure it will certainly push up and one thing again is having the perseverance to wait and hold until the market goes up again so I think this is great for me

[Welsh]

Why so many people are worried so much about current dip? People that have bought Bitcoin in 2018 or earlier are looking on those who create panic today, and smile. Also I dont understand why people even create panic. When they go to the shop and see that week ago bananas cost 2 EUR, but today they are at 0.99, or buy something with huge discounts - they call it a good bargain. But when they see that Bitcoin once cost $69k, and now it costs $16k, then they start to scream. If Bitcoin goes deeper - buy more. Scared - just pass by. Dont have money - pass by.

Since, people are significantly invested into Bitcoin. Bitcoin is new, hasn't really been done to this scale before, and therefore there's always a chance that it fails. It's not a currency like USD or GBP that's basically backed by the government. Bitcoin technically is backed by the belief of the community, and that's pretty much it. Obviously, there's a reason why that belief exists, and I don't think it'll ever completely go. However, you can understand when someone is significantly invested in a new technology, a new idea that when it does dip it causes panic.

I can understand that, and I've been around a while. I personally aren't that concerned. This is just natural variation for as far as I'm concerned. We've seen similar in the past, and there's a compounding effect going on right now.

While I do think we'll be fine, and will see it increase to levels before, it's still understandable when people do panic. It has taken me years to develop the resilience I have to the price, it definitely doesn't come over night.

[Cookdata]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

Is it his first time buying Bitcoin? Normally, that is how it has always been for a first timer, they get discouraged when they see negative PNL or loss from their capital but if at all his dedicated and really wants to stay for a long time, they wouldn't bother with the short-term losses.
Looking at the current condition of the market, I can't say for sure if there are any investors this year that has been in profit with all their crypto including those who have been doing daily cost averaging but one thing is for sure, it will always bounce back when the right time comes but no one here can assure you the bottom of Bitcoin, it could stop here or continue down depending on the manipulations of centralized exchanges.

[Tony116]

Yes, it can be said that this year is the worst year with events that bitcoin has never experienced such as crisis, inflation, extremely bad economy. But if you look at bitcoin's drop, this year hasn't been the worst drop for bitcoin, I remember bitcoin's steepest drop of 93% in 2011, from $31 to $2. The index of greed and fear is at an extremely fear level, it can be said that not only you but many people are panicking. But looking at its development history you will know how it recovers, the deeper the drop, the stronger the recovery. If you want high profits then you need to buy at the lowest price and this is an opportunity, not a time of fear.

[Slow death]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

 

what do you mean worst year in bitcoin history? Are you forgetting that you already reached 20,000$ and then dropped to 3200$? but then it went up from to 67000$? that friend of yours doesn't seem to have done any research work before entering this market, look at the international market, see that even facebook and twtter are laying off employees due to the crisis, of course this crisis also affected bitcoin, but this one Current price drop is related to the FTX exchange you can read more about it here:

https://cointelegraph.com/news/ftx-and-binance-s-ongoing-saga-everything-that-s-happened-until-now

but eventually the price will recover, it's not because it's dropping that it will drop to zero which is what your friend must be thinking, if you want to buy, i suggest you just be aware that the price can go down further and it can take years for it to go back to 67000$, are you ready to hodl for a long time? if your answer is yes then you can buy it, but if you are not ready then don't buy it

[aoluain]

Gotta ask the question

Is Bitcoin ever going to rise above $20k ever again let alone reaching the ATH of $69k?

Depending what you believe that will determine how you move to buy, HODL or sell.

This has happened countless times before and still the markets bounce back to New ATH's,
just takes time and patience

[Yatsan]

If the situation continues, we cannot prevent such thing to happen. Some people say it has something to do with economic crisis we are all experiencing at the moment wherein investors are not as enthusiastic as before because they are worried of their daily living;leaving no money to invest, which is possible. So if you have an extra money, investing while its price is still 'deep' would be a good idea. But I won't suggest doing the same thing if you are struggling with basic needs.

2022 is not over yet so we can't say for sure that this year is bitcoin's worst year, because in reality bitcoin continues to struggle to restore value even though it is very difficult and not as fast as when it was hype in 2020 yesterday,
when you enter and invest you should know the biggest risk of this investment, with patience and persistence you will definitely get a profit
so don't worry about the decline because the bitcoin cycle has been confirmed for 4 years

Worst year? I doubt. Have you seen how low it became way back 2018? That was almost 2years of no movement in this market before it came back last year. Let us hope that this won't stay for that long. If you have assets decide which is to hold thriugh ups and downs because your decision would be crucial. If you're used of this kind of market nature (which we've experienced countless times) you know what to do.

[Kelvinid]

Based on recent trend in Bitcoin, this is the worst year in crypto history and the year is not over yet. I was talking to a friend this morning concerning the current crypto trend and guess what? This dude is loosing hope already.

And I don't even know how to encourage myself to invest more in Bitcoin, is it right for me to go ahead and buy the dip ?

I haven't yet it was the worst year in crypto as we never know precisely if this is more dump to come someday.
But I have not to think about it nor do I bother myself about the dump because this will actually come for we can't dictate the market where it goes. I have faith in Bitcoin, it dumps but soon recovers just like the past bear season. It drops more if we lose hope and faith but if we keep strong and learn to hold, recovery is not impossible.

Buy the dip as long as you can afford to risk and wait for the bull market. But if not, better keep what you have and hold them.

[spectre71]

Everyone is baller on the way up, the easiest thing to do..

Mindset is wrong, it's a great time to buy (DCA) into the game. Already in it? Good blend down your cost. The fear that you already missed out is an emotional attachment to trading that needs to be broken.

Is their more bad news to come? Yup. Can it go lower? Probably can.

On the way up don't be afraid to take some profit and set it aside. This buy once and hold forever stuff is cool, then just buy it and look at it one time a year instead of driving yourself mad.