It's the 12th of March once again

[Outhue]

Almost 800 million in Bitcoin was liquidated in minutes on popular exchange called BitMEX years ago, how many of you guys remember this?

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

[Yatsan]

Problem is no one could really anticipate what is more likely to happen. The market itself is way too unpredictable and if you'd be in times of decline with market prices, the only thing you should consider is to deal with it and not to liquidate. Has something to do as well with the amount you can afford losing on your investment. Regarding dates on the other hand, history repeats itself but not exactly as what happened from the past. Prooc is simply inconsistency with market price increase so what more with declines or corrections in market value. Simply a part of this technology and other field of investment especially those which are solely dependent with the demand.

[firesurfer]

As always you have a few weeks to make a purchase. It is possible that the price drop is not over for Bitcoin yet. We will wait until tomorrow to see the central bank's decisions on the fate of the collapse of the two major banks.
Domain BTC.D is moving up and that is not good for altcoins. Bitcoin is a nice option then can wait to buy potential altcoins x10, x100. I am optimistic about the absolute growth of the market in 2024. Shopping from now on is not a bad choice.

[Rana590]

Actually we don't have enough trust on Bitcoin. Not for everyone but there are huge number of people who haven't belief on Bitcoin. Is it really possible for a particular crypto to rise continuously in real life? We have to wait patiently and take advantages from it. We have to think about future by forecasting development, technology, market, audience etc.

[Little Mouse]

I still remember I was trying to buy Bitcoin with cash in my area and couldn't. Back then, we only had a way to buy and sell Bitcoin. That's face-to-face. Otherwise, with local sites, you have to get deceived. Well, localbitcoins and other sites were there too but the price was far above then the actual price. I still remember I was praying that the price remains lower so I can buy more lol.
Anyway, most of the investors sell at such a time while the whale buys. The meme says the rest. Source- coinalap
Bitcoin at $69k vs Bitcoin at $23k

[|MINER|]

I still remember I was trying to buy Bitcoin with cash in my area and couldn't. Back then, we only had a way to buy and sell Bitcoin. That's face-to-face. Otherwise, with local sites, you have to get deceived. Well, localbitcoins and other sites were there too but the price was far above then the actual price. I still remember I was praying that the price remains lower so I can buy more lol.
Anyway, most of the investors sell at such a time while the whale buys. The meme says the rest. Source- coinalap
Bitcoin at $69k vs Bitcoin at $23k

It would be better if you put your memes letters in English instead of your local language. Because many people may have trouble understanding, but what I found by observing the meaning of the meme is that I am in that long line.
But then the market conditions were such that it was very difficult to actually get an indication or fear that it would be its last destination or all-time high. Then, of course, for the big whales, an extra emotion worked in people to invest.

[lionheart78]

Actually we don't have enough trust on Bitcoin. Not for everyone but there are huge number of people who haven't belief on Bitcoin. Is it really possible for a particular crypto to rise continuously in real life? We have to wait patiently and take advantages from it. We have to think about future by forecasting development, technology, market, audience etc.

I do not know about you but I am bullish on Bitcoin and trust that it will eventually surge making the market in bullish mode.  Though there are still lots of people that have a negative perception in Bitcoin (blame that on the people who create scam and fraud company that uses Bitcoin to cheat on unsuspecting investors) but time and time again Bitcoin always prove itself that it has the capability to bounce back, rally and uptrend, breaking its previous ATH after its halving.

Since there are historic records that Bitcoin is able to recover, why not take that as motivation to stock BTC and DCA while it is still in their lower price range?  We know that when Bitcoin surge it will take years to see windows of opportunity on buying Bitcoin at a lower price of its ATH again, and at a higher price level.

[cabron]

Almost 800 million in Bitcoin was liquidated in minutes on popular exchange called BitMEX years ago, how many of you guys remember this?

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

I don't really remember such dates but I just look at the chart, it was a long red candle dropping from 8k down to 4400 and the next day it dip to 3800. Maybe 3500 on other exchanges.

All these distractions are somewhat like a shake-out to those investors who can really hold for a hold time and are worth the wealth they get. FED raising rates again is definitely among them. They know it's not the solution as it will only make the people suffer but they keep doing it.

[bayu7adi]

Since there are historic records that Bitcoin is able to recover, why not take that as motivation to stock BTC and DCA while it is still in their lower price range?  We know that when Bitcoin surge it will take years to see windows of opportunity on buying Bitcoin at a lower price of its ATH again, and at a higher price level.

Speculating on the price of BTC is not the right way to expand the blockchain network and certainly not the best way to popularize cryptocurrency for mass adoption. Some people believe in what you say, while most don't, which is understandable given the highly volatile nature of bitcoin prices.

Flaunting profits from Bitcoin trading can certainly attract a lot of attention, but how many people will go bankrupt when they don't know how to trade cryptocurrency properly? On the other hand, if BTC is purchased and used by the general public, the system is prioritizing its function, which has the potential to be developed by others.

What @Rana590 is saying forces us to think about something that can make Bitcoin bigger and more widely used by the public. When the name Bitcoin starts to become popular and talked about by people of different races, it opens up a new world for those who can make a system safer or transform it into something even better

BTC price will be easier to go up

[LFC_Bitcoin]

Seems to be a lot of rumours circulating about bank runs and bailouts etc. I think the next week is going to be very interesting. Remember though, seemingly awfully bearish capitulations are a great opportunity to but cheap. Always do the opposite of what the masses are doing. Money is made during bear markets.

[mendace]

Actually we don't have enough trust on Bitcoin. Not for everyone but there are huge number of people who haven't belief on Bitcoin. Is it really possible for a particular crypto to rise continuously in real life? We have to wait patiently and take advantages from it. We have to think about future by forecasting development, technology, market, audience etc.

It is understandable that there are people who have no faith in Bitcoin or other cryptocurrencies. Blockchain technology on which Bitcoin and many other cryptocurrencies are based is an innovative technology with a lot of potential and application possibilities in different sectors.  Additionally, many financial institutions and large corporations are starting to accept Bitcoin as a form of payment, which indicates growing public acceptance of the cryptocurrency.

[Cryptomiles1]

I am not good at keeping date but I know too well that there was a time when bitcoin was $8k as ATH then drop expeditiously to what I can't really comprehend this seems to be 2019/20 but as a matter of fact I couldn't utilized the opportunity because of lack of fear and fate. At bear everyone always seems to push what ever they thought of holding in other not to dump in there hands while those who knows what bear is all about usually utilizes every single opportunity that may arise during the long bear market.

[PX-Z]

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

Actually, all of these downfall of bitcoin value is always gives a lesson. That's the exact approach i have always keep and still hoping in the 2017 ATH.
And exactly just like you did, i just wait and wait until there's no way to sell it because its too down and feel like it will give a huge loss if i sell.

[D ltr]

the market is difficult to predict so if there is a decline on the day, the same date may just be a coincidence, chaos will always occur when btc or other coins start to increase it's a normal thing isn't it. holding back and surviving the onslaught of bad news is proof we are tough fighters to deserve the benefits of the btc we keep

[terrific]

It's been 3 years and what I remember more was about the start of the pandemic nonetheless, these huge market slumps are really making histories.
From one thought of being big into something bigger that we have never thought of. This goes by the play of being unpredictable and regardless of being confident with what you hold, you shouldn't be.
USDC and banks have proved that whether they're centralized or decentralized, there's really a proof that nothing in existence is safe and perfect in terms of safety of our money and finances.

[Stedsm]

TBH there's more cloud than blood on the streets to actually see what's happening and what could really happen in the markets. There's enough chaos created by the recent SVB and Silvergate bank problem and even one more news came that a crypto-friendly bank named Signature got shut down by NY authorities.
Whatever we are being served with, is definitely not something to think positive in the current situation. Let's hope for the best.

[BenCodie]

As always you have a few weeks to make a purchase. It is possible that the price drop is not over for Bitcoin yet. We will wait until tomorrow to see the central bank's decisions on the fate of the collapse of the two major banks.
Domain BTC.D is moving up and that is not good for altcoins. Bitcoin is a nice option then can wait to buy potential altcoins x10, x100. I am optimistic about the absolute growth of the market in 2024. Shopping from now on is not a bad choice.

A couple of weeks ago, or even less, I would have disagreed with you. However, I think you are right in saying that it's a good time to start some light shopping. I still think in the back of my mind that there must be some more pain if Bitcoin was to see extravagant heights. I believe that 2024 is the year...but if banks start collapsing, Bitcoin's purpose becomes revived...and that can only be good for its value.

We are in very interesting times. Uncertain, but interesting nonetheless.

[franky1]

if you were not ready to sell at $24k last month.. dont sell at $21k now

never sell at a loss

any time the price corrects back down to good value. is time to buy..

buy the dip. sell the tip
buy the hump sell the hype
buy low sell high
if you see people shouting the price is too low. its should be ringing in your ears "its cheap/great deal/special offer"

[Bazzu]

indeed we have to be bitcoin holders who are strong and smart in managing our assets, and don't be affected by news that causes us to suffer losses.

and today the price of bitcoin has gone up again, and it's a shame for people who sell bitcoin at low prices and lose. with today's increase, people who hold bitcoin are sure to be happy and profit, but for those who can't hold it, usually the majority lose a lot.

[noorman0]

-snip-

Totally agree with this opinion.
What is the first thing people around me ask when they see me checking a trading account, "how much was your initial capital"? I always say "that's zero capital".
Initial questions indicated how well they understand bitcoin and prove bitcoin adoption is currently largely limited to people who like volatility, but tend to leave space when they lose money. I think enough to hear about people losing bitcoin through investment, time to hear stories of successful people making extra money with bitcoin through work.

[OcTradism]

Almost 800 million in Bitcoin was liquidated in minutes on popular exchange called BitMEX years ago, how many of you guys remember this?

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

That was a last long squeeze before a 2020 bull run started. That is harsh but after that squeeze, the market was cleaned up very well and we saw how it recovered sharply with V-shape few days after that.

I really expect to see a similar market clean-up next year before 2024 halving as a last test of Bitcoin whales before they officially execute their plans for a new big bull run.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

Governments are big entities in our societies and with their power, they can fud any market but with Bitcoin, we know one thing. They can not seize or steal our bitcoins if we store our bitcoins in non custodial wallets. If we don't do criminal things, they have no reasons to go to our homes and seize our bitcoins.

[Fundamentals Of]

That is why everybody who starts to hold Bitcoin should be aware of these kinds of events in the history of Bitcoin's price. This will definitely help them weather the strong yet short storms that have been characterizing the price of Bitcoin. Those who are expecting that the price will just go straight to the moon should learn or leave.

Just several hours ago, the price of Bitcoin quickly fell from $20,000. What if those emotional Bitcoin owners panicked and sold? What if they interpreted it as the ultimate sign to sell? Hours later, the price got back to almost $23,000.

[Outhue]

Bitcoin is now trading at 22,350$,  and so far,  USDC is gearing up for some backing, if 100% of deposits are returned from SVB to Circle, then USDC will be fully backed,  the FED just bailed out the banks, again. 

So, congrats to all those that took the advantage of the dump to 19,000+ since days ago now.

Another good news, the Binance exchange is preparing to use 1 billion dollars from the industry recovery initiative funds from BUSD to purchase other crypto assets like ETH, BTC, and BNB.

Buying pressure is incoming.

[wxa7115]

That is why everybody who starts to hold Bitcoin should be aware of these kinds of events in the history of Bitcoin's price. This will definitely help them weather the strong yet short storms that have been characterizing the price of Bitcoin. Those who are expecting that the price will just go straight to the moon should learn or leave.

Just several hours ago, the price of Bitcoin quickly fell from $20,000. What if those emotional Bitcoin owners panicked and sold? What if they interpreted it as the ultimate sign to sell? Hours later, the price got back to almost $23,000.

Compared to the usual movements of bitcoin such a movement may not seem like a big deal, but when you begin to think about it in a more deep way you can realize that a single movement like that can be enough for a trader to generate profits which in other markets it could take them at least a year to get them.

With this in mind, it is a mistake to panic when such a movement happen, as it is precisely at those moments when a huge deal of money change hands.

[348Judah]

Almost 800 million in Bitcoin was liquidated in minutes on popular exchange called BitMEX years ago, how many of you guys remember this?

For the sake of the beginners who weren't there when this ugly occurrence happened should learn from others experience with using a centralized exchange and the risk that could be embedded in doing so, it is very simple that one learn and have his bitcoin on a decentralized wallet that offers his control over his asset than using a centralized exchange which denied doing so.

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

On this vein as well, beginners should learn from every ofbthe past experience of bitcoin price that when it fals it's on a bear season and soon comes the bull season, as long as you're dealing with bitcoin and not other coins, bullrun is certain, only be patient and hodl till that time comes.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

Government will always do that for now because they are used to doing it already, but when you conduct a thorough research and findings about bitcoin, then you will discover the reason why government is doing that and why, but so far so good they were all empty threat since it affects bitcoin in no way.

[davis196]

The March 2020 price drop was caused by the pandemic, lockdowns, closed borders and panic.
The current price drop has nothing to do with the 2020 price drop. I don't care about how many US banks are going to bankrupt.
I will keep HODLing and accumulating, while waiting for the 2024 halving and the potential 2025 bull market. I also expect the war in Ukraine to end somewhere around 2025, so this will be another positive news.
We might be heading towards a financial crisis in late 2023 and 2024(caused by the US financial system, no surprise here). I know that the crypto winter will continue and there will be bigger price drops than the current one, but I don't care about the prices right now.

[aoluain]

Thanks to this thread it should act as a reminder to people that events in the OP are temporary
and not to succumb to FUD and panic, see those events as opportunities.

Also remember exchanges for the most part are centralised entities, use them to
"exchange" then take your funds off them and into your control. You just never know what
is going to happen.

Events like that will happen again so always look to minimise your exposure to these
risks and see in them the chance to buy cheap.

[firesurfer]

As always you have a few weeks to make a purchase. It is possible that the price drop is not over for Bitcoin yet. We will wait until tomorrow to see the central bank's decisions on the fate of the collapse of the two major banks.
Domain BTC.D is moving up and that is not good for altcoins. Bitcoin is a nice option then can wait to buy potential altcoins x10, x100. I am optimistic about the absolute growth of the market in 2024. Shopping from now on is not a bad choice.

A couple of weeks ago, or even less, I would have disagreed with you. However, I think you are right in saying that it's a good time to start some light shopping. I still think in the back of my mind that there must be some more pain if Bitcoin was to see extravagant heights. I believe that 2024 is the year...but if banks start collapsing, Bitcoin's purpose becomes revived...and that can only be good for its value.

We are in very interesting times. Uncertain, but interesting nonetheless.

Believe it or not, Bitcoin is up almost 20% today. Perhaps people are realizing earlier than previous cycles and maybe a new bull cycle is starting today. We are often skeptical about Bitcoin's price increase but the truth is happening. I don't have any opinions because I'm seeing the implication of the birth of Bitcoin as being against the collapse of the banking system.

[Smartvirus]

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

Your last statement was my thought after seeing this thread from minutes ago.
Is the US government about to sell over $1 billion worth of bitcoin?. Haven't had the verge idea that the deep could have been reached already and the increasing effort from the bulls in trying to push price up by some scale, it could be an attempt to flood the market with coins in a bid to further dump the price and trigger weak hands to go for a sell.
As much as we have weak hands that would be bought out, there are those that would be strong enough to see it through.  Hodling is still the word.

[bosede1]

To be successful you have to be able to take a lot of risky decisions which in the end pay off. Anybody who only looks at the negative effect of the volatility feature bitcoin possesses cannot last in the market

[borovichok]

To be successful you have to be able to take a lot of risky decisions which in the end pay off. Anybody who only looks at the negative effect of the volatility feature bitcoin possesses cannot last in the market

Making important judgments on the market helps keep the financial system stable. Because the market frequently behaves in a way that is counter to plans, it is crucial for everyone to be aware of what to do next whenever this happens. Risks are available in the market and are worthwhile taking because a good profit is anticipated to be realized if the prospect demonstrates that it turns out to be solid. Market volatility was regular, and every trader has become accustomed to it, perfect timing and consistency generates excellent results.

[Dave1]

Almost 800 million in Bitcoin was liquidated in minutes on popular exchange called BitMEX years ago, how many of you guys remember this?

It was on the 12th of March 2020 that Bitcoin dropped 50% in value and this got me so good, till date I still regret my decision, because after so many endurance of waiting and waiting, Bitcoin dumped from 8000$ all the way down to 3,500$, I just gave up and it does not take too long, like 3 months later, that we were already in another bull market.

Do not be deceived by the chaos that the government are trying to cause, it's a big distraction, for those who are weak, do not be a weak BTC holder.

This is due to the pandemic news right?

Yeah, vividly remember it, but not that affected though, I mean our health and families are that much important that time. Although our investments goes down hard (I didn't sell), and yet we have bounce back after that.

And down the line, majority of us survived and we are all still year investing and looking forward for the next bull run. So everything's good now.

[maydna]

If you have decided to become a bitcoin holder, you must be able to hold bitcoin no matter what happens. Usually, people panic and become uneasy when they see the price drop drastically. They will sell almost all or even their bitcoins and save themselves the loss.

But bitcoin holders will not sell their bitcoins. Instead, they can take advantage of the situation by buying more bitcoins at that low price. And I'm sure many people have managed to buy bitcoin at that low price and hold it until the price can increase very high, then they sell it. The bitcoin market will always fluctuate, and we have to keep our emotions from being provoked by the many negative news saying that bitcoin will continue to fall deeper. It's just bait for weak people who can't hold their bitcoins when the bear market comes.

[yazher]

There comes a time when the market will crash and the only thing you can do is wait for the time when it recovers again. because we all know that from its history, it always recovers and most of the time it will gonna create a new ATH. you only need to trust and be patient while waiting for that time because there will be lots of FUDS while you waiting and one of them will be the mainstream media which will create more negative rumors to confuse the people. You need to prevent yourself from getting any idea from them and just continue to strive to hold your bitcoins until the price will back to normal.

[pawanjain]

Problem is no one could really anticipate what is more likely to happen. The market itself is way too unpredictable and if you'd be in times of decline with market prices, the only thing you should consider is to deal with it and not to liquidate. Has something to do as well with the amount you can afford losing on your investment. Regarding dates on the other hand, history repeats itself but not exactly as what happened from the past. Prooc is simply inconsistency with market price increase so what more with declines or corrections in market value. Simply a part of this technology and other field of investment especially those which are solely dependent with the demand.

If it was predictable then bitcoin wouldn't have been at this position at first place.
Bitcoin's volatility is really unpredictable and this is one of the reasons why it is at current price.
We need to trust bitcoin if we are putting money into it. Trust is a major factor in holding for a long term.
All the people earning profits are the ones who trust bitcoin and do not liquidate in a bear trend.