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Author Topic: It's the 12th of March once again  (Read 231 times)
Outhue (OP)
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March 12, 2023, 04:39:58 PM
 #1

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.

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March 12, 2023, 04:52:21 PM
 #2

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.

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March 12, 2023, 04:53:09 PM
 #3

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.



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Rana590
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March 12, 2023, 05:09:55 PM
 #4

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.
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March 12, 2023, 05:14:49 PM
Merited by Rana590 (1), |MINER| (1)
 #5

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


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March 12, 2023, 05:42:53 PM
 #6

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.

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March 12, 2023, 05:56:46 PM
 #7

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.

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March 12, 2023, 06:13:07 PM
 #8

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.

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March 12, 2023, 06:13:44 PM
Merited by noorman0 (1)
 #9

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
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March 12, 2023, 08:38:50 PM
 #10

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.

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March 12, 2023, 09:16:40 PM
 #11

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.
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March 12, 2023, 09:21:10 PM
 #12

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.
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March 12, 2023, 09:50:05 PM
 #13

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.

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March 12, 2023, 10:39:00 PM
 #14

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

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March 12, 2023, 11:10:10 PM
 #15

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.


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March 12, 2023, 11:30:10 PM
 #16

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.

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March 13, 2023, 12:25:00 AM
 #17

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.
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March 13, 2023, 12:42:18 AM
 #18

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"

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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March 13, 2023, 12:47:23 AM
 #19

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.

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March 13, 2023, 01:20:54 AM
 #20

-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.

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