What do you intend to tell loved ones about the bear market?

[Accardo]

During the 2021 era bitcoin price flourished and many investors made lots of profits, out of love for our family and friends it’ll be improper not to tell them about crypto. Even when they’re asking so many question and ready to invest into the market to earn like every other person did. Though I could remember, sometimes last year, telling the writer of my project who asked multiple questions about bitcoin not to buy bitcoin at 50k as he may not gain profits yet. Some of us may have inspired their loved ones to invest into bitcoin. What do you have in mind to tell them about the falling price of bitcoin during the Xmas Dinner?

Coin market cap made an article about this and how to explain things in details for them to understand. Beginning with the Terra fall, Three Arrow Capital, Celsius, down to FTX who tried to save the market, but ended up tearing the recovering bitcoin price apart. Don’t forget to add the Russia-Ukraine war as an attribute to the bear market.

What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?

They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?


https://cointelegraph.com/news/xmas-dinner-table-what-to-tell-your-family-about-what-happened-in-crypto-this-year

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[kryptqnick]

I generally follow the rule of not giving investment advice to any people, including loved ones. I can share my thoughts if they seem interested, but I always mention the risks (e.g. that there's no guarantee that Bitcoin will recover from the bear market only because it recovered from previous ones, there's no guarantee that it will recover fairly fast, there's a real risk of the investment going down for some time). After all, why would I give any reason for others to blame me for the money they lost? People should make their own decisions about investments.

[pawanjain]

I just tell them that it is a part of the cycle and once it is over the good days of bull market will be back.
So just let the time go and once the market recovers then we can make good profits.
This is literally the only thing I tell them to make them calm because they get stressed about the prices.
In order not to make them panic sell at such low prices this is what we should do.

[Hispo]

I consider investments to be strictly personal, specially investments within the crypto space.
I avoid to tell people where to put their money both family members or friends, I am not a financial advisor, after all. I mostly talk about the technology behind Bitcoin and how it helps to transmit value in a decentralized way, but I don't talk about speculation often.

Last time someone asked me if it was a good idea to buy Bitcoin to speculate, I told them "I don't know". Anyone buying Bitcoin for short term or mid term gains is supposed to be ready for high fluctuations of price.

So I do not need to think what to tell my family about this bear market.

[DaveF]

The same thing you tell anyone about a bull / bear market. Things run in cycles, and it's just the way it is.
How much you made / lost be it unrealized or not is a matter that everyone has to make their own decisions on.

What to tell family is always going to depend on the family. Be it BTC, or any other investment.
If you think differently then figure out why if you were treating BTC / crypto as an investment you would discuss it any differently then investing in something else.

-Dave

[SOKO-DEKE]

I'll try to reassure them by urging them to be patient and that the bear market will soon come to an end. And I'll let them know that, according to the history of Bitcoin, there are always a bear markets and bull runs in the cryptocurrency market.so after the bear market period, it will lead to bull run which occurs due to halving in blockchain, which happens consistently every four years. I'll let them know that they shouldn't worry too much about the current market situation that is already leading to an end. I will calm them with some works like they shouldn't let the fear of losing be greater than the excitement of their winning because we are closer to our profit period.

[mk4]

I tell them ..nothing. Because I decided really early to not shill my relatives any investment — bitcoin/crypto-related or not.

Also please stop using the word "gospel" when telling people about crypto/bitcoin.

[dothebeats]

Luckily I'm that family member that does not really mingle with other family members unless asked to, and when I'm in a conversation with another family member, I try to be as concise and as short as possible in order to not be their topic just because of what I said. Perhaps if I recommended this crypto investing to a friend, then I can explain that there are a lot of factors that contributed to the current situation of the market. Great emphasis on the Terra scam and FTX funds' misappropriation as I believe these two are the greatest movers of market sentiment that sent us to where we're at right now. If not started by Terra, and not ended by FTX, we could have a great sideways market but eh, they just have to ruin the fun for most of us.

[Lucius]

I'm not surprised at all that this came out of the shitty CT kitchen, do people still read that garbage?

If someone advised others to invest in Bitcoin just for the sake of profit, and now he is embarrassed to sit at the same table with them while cutting the Christmas turkey, then he fully deserves it. In addition, the topics of conversation for Christmas lunch/dinner should be about other things, it is not about a meeting of investors but a meeting of family and friends.

They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?

Not in my case, I don't advise anyone to invest in "crypto" in the last 5-6 years - anyone who wants to invest in such things can find enough information online. If by any chance they lose money, let them argue with their computer.

[Majestic-milf]

Nothing. Because frankly, they don't disturb themselves with the happenings of Bitcoin. If I do that tho, I'd first of all explain what Bitcoin is to them and try to break it down to the simplest form for them to understand before they can grasp what I'm saying as regards to the bear period. So, no thank you! It's better for them to stay ignorant.

[Vaskiy]

Till date I've given advice to few of my friends and family members. I've given suggestion to invest on their own risk and to pick the coin of their choice. Whether it is bitcoin or altcoins, it is upto them. Earlier while teaching about cryptocurrency I've briefed them with the proper chart. Now the real-time market will just let them realise the reality of the market.

[Rikafip]

They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?

Since I haven't advised a single family member (close and distant family included) to invest in Bitcoin, I won't have issues like that. As a matter of fact, I even talked few out of it because I knew they wouldn't be able to handle price volatility, or because they simply couldn't afford it.

Also please stop using the word "gospel" when telling people about crypto/bitcoin.

Ditto. That's exactly how you can get into problems, if you present bitcoin like something that will change/affect people's life dramatically and then we reach bear market the fun starts.

[Eternad]

I’ve been consistently telling my parents before about investing in Bitcoin during 2015 when I’m still a student and until now but they still ignoring me despite I show rhem how profitable it is using the price chart history. They preferred the traditional stock investment over crypto investment because they can’t handle the risk of crypto due to its volatility. They just ignored despite the profitability is so high.

The best effort that I do for them to invest is just give them a crypto gift that they never touch since I give them last 2018 bear market. I failed to sell it during the peak because they are away with me and they don't want to touch it without me.  

[mk4]

Ditto. That's exactly how you can get into problems, if you present bitcoin like something that will change/affect people's life dramatically and then we reach bear market the fun starts.

When I see that word in the context of bitcoin/crypto I always close my eyes and compose myself because of the cringe. If anything, it makes us look like scammers a lot more — as if the cryptocurrency space wasn't spam-filled to start with.

I’ve been consistently telling my parents before about investing in Bitcoin during 2015 when I’m still a student and until now but they still ignoring me despite I show rhem how profitable it is using the price chart history. They preferred the traditional stock investment over crypto investment because they can’t handle the risk of crypto due to its volatility. They just ignored despite the profitability is so high.

That's actually a pretty reasonable excuse.

[crunck]

Whenever I give someone investment advice, I always remind them of the risks they take, so when a lot of people become reluctant holders during the bear season. I still do not want to say anything more, but I still emphasize that it is a risk in investment, if you want high profits, you must accept high risks. If they are afraid, they can sell, if they still believe, keep holding. What needs to be said I have said before they invest, not wait until now to say.

[Rruchi man]

What do you have in mind to tell them about the falling price of bitcoin during the Xmas Dinner?

We will not discuss things regarding finances on our Christmas Dinner, It is a time to be happy and not to reflect on what did not go as planned this year.

Some of us may have inspired their loved ones to invest into bitcoin.

For many of my loved ones who were inspired to invest in bitcoins after finding out that I was into bitcoins, I made them know that as glittery as it looks, Bitcoin investment is no assurance of wealth especially without patience and knowledge. They knew about the possibility of the bear market before they joined, so as they are experiencing it currently, their consolation is that the person who inspired them to join is experiencing same market effect and hasn't quit. I encourage them.

[cabron]

Tell them it will pass, it will pass and you get used to it soon 

It does make them relax though as if the price will soon pump up again when you say the bear market of crypto will soon be over as the oversold level in RSI is close. That's just what I said to my brother and he seems to be calmer but I reminded him that the next cycle will make his BTC value double so wait a while.

[Yatsan]

If they are really curious they won't solely depend with asking people but rather will find ways to get an answer for themselves. I get the point;share what you know to encourage more people towards this industry but I just won't give advices. First of all, there is a tendency for me to be blamed gigen that  there are no consistencies with this industry which nullifies any kind of advise or prediction of the market.

Whenever I give someone investment advice, I always remind them of the risks they take, so when a lot of people become reluctant holders during the bear season. I still do not want to say anything more, but I still emphasize that it is a risk in investment, if you want high profits, you must accept high risks. If they are afraid, they can sell, if they still believe, keep holding. What needs to be said I have said before they invest, not wait until now to say.

For sure you want to give an advice but it won't be that easy. Doing so would somehow create an idea that you are encouraging them towards this industry. Problem has something to do with market price volatility which could yield to huge profit loss if things wo 't be handled properly. So I somehow agree with this idea of either choosing people who you think has potential, and avoiding to do such in order to not encourage them right from the start.

[The Cryptovator]

Those who invest in Bitcoin should understand how the price movement works. We know why Bitcoin began to fall in price. The first dump occurred when Elon posted Nagetive posts and massively adapted Doge. Then there was the Terra accident, and now there is FTX. These three accidents brought down the entire crypto market, and if anyone asks, we should explain the story behind the dump. There are more Binance rumors floating around. It's a little alarmist, but imagine what would happen if something happened to Binance. We must suffer once more, and the crypto community will be in total shambles.

[ethereumhunter]

I would say study it before you decide and don't make a decision because of other people's advice because that doesn't guarantee it can give you an advantage. Market conditions fluctuate a lot so you have to be careful in deciding because it is your money, and you are responsible for managing it, including investing in the coins you want.

And if market prices are affected so much during the holiday period, it may be because people want to have cash so they sell their coins for fiat to spend. But surely there are many reasons why the price fluctuates or gets affected. And another piece of advice is to buy bitcoins at a price you can afford and hold on as long as you can until you see the price can go up very high, then sell immediately to take that profit.