It's the 12th of March once again

[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.