Economists advise caution in trading in Bitcoin currency

[Atikur0011]

Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin. However, many experts are warning about this.

➤ How safe are Bitcoin transactions?


Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

[Essential10]

Bitcoin is essentially a geocurrency that is managed through blockchain technology. Bitcoin is basically a cyber currency, which is not controlled by any one country or government. Many experts on this matter believe that Bitcoin exchange can have adverse effects and may be misleading or side-tracking according to experts. Bitcoin's value has fluctuated greatly since its inception. It's only natural that the more people know you, the more criticism you'll get, and it's the same with Bitcoin. Bitcoin is a difficult technology. People of Bangladesh have very little idea about this kind of technology in Bitcoin. Lack of awareness in all these countries, people in all these countries have been cheated by investing in various MLM companies. Therefore advanced technology like Bitcoin does not want to be recognized by the government of that country. I believe Bitcoin exists and will exist in the future.

[bitLeap]

Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

Hahaha which experts are you talking about? Economists are strict because they don't want people to be free with their finances. Therefore, it is the job of the economists you are talking about to scare Bitcoin holders and buyers. After all, Bitcoin has been around for quite a long time and has not only recently attracted attention. Since the first time Bitcoin touched the ATH, real estate economists began to worry that the decline in paper money was increasingly losing trust. So there is no need to be reminded that our decision to invest in Bitcoin is indeed the financial method we want where complete freedom of our rights is truly legally and solely controlled. Returning to the economists you talked about above, their concerns will get bigger whether they like it or not, this will definitely happen.

[CageMabok]

Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin. However, many experts are warning about this.

➤ How safe are Bitcoin transactions?

If you ask about how safe Bitcoin transactions are, I will answer "quite safe" because so far I have never had problems with Bitcoin transactions. And if you say about the Bitcoin currency that has received the attention of many people recently, it seems like you are the only one who has just realized this because the attention of many people for Bitcoin has been going on for a long time and is even present every year. So don't brag if you yourself only realized this now.

Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

It seems you forgot to ask about the year of price increase that he mentioned, because for more than ten years Bitcoin has experienced several price increases which are still happening to this day. So not only recently, but in the past it has also happened after the pandemic so you still need to ask the person who said that about what year this price occurred.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

I want to know which person you are referring to? If there are many people who withdraw from the market, it means that they have profited enough and will enter again when market conditions become more favorable for them. Because Bitcoin has been on the market for more than ten years with quite a lot of traders and users and they all still continue to like Bitcoin because they have experienced clearer and more tangible proof of profit. So I want to know which people will be dangerous as well as who will withdraw from the market?

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

If you feel afraid because there are economists who say that about Bitcoin, you don't need to be too close to Bitcoin because Bitcoin will only be approached by brave people and also by people who already believe in Bitcoin's potential. So you also don't need to bother to heed the warning from the economist and tell him also that don't bother to think about authority and control of the money that goes into Bitcoin if he himself doesn't like Bitcoin and doesn't know about Bitcoin completely.

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

It's really funny, mate. If you have more time to deal with the Bangladesh Bank, please tell them to shut up and don't look at Bitcoin or care about Bitcoin if they are still very afraid of Bitcoin for reasons like that. Bitcoin also won't collapse if for example they don't believe in Bitcoin and one question from me to you is also "When did you find out and recognize Bitcoin?" If on October 27, 2023 you know Bitcoin, it looks like you should have more time to read and study Bitcoin without having to panic like this, mate.

[rat03gopoh]

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

People have repeatedly withdrawn from this market on several occasions, as they find the economic situation pressing. This is no longer about making a profit, but how to survive because their financial level no longer helps.

[Iamgoat]

If you're familiar with economists' advice, you'll know that they always tell you to be strict with your finances and save your money so you don't have to spend it. Some of these economists would even advise you not to invest your money because they are afraid you will lose it particularly when they don't have much idea about the platform or when there are associated risks.

Nonetheless, these guys have forgotten the risk of being an investor, or, more broadly, of being a living person. They overlooked the notion that we must make difficult decisions in order to be able to freely make life-changing decisions.

My thoughts on this are, I may not be so accurate but, before investing in Bitcoin, it is most preferable for a person to analyse the market trend for that period and then look at what most effective approach to take, which might be dollar cost averaging in some circumstances, particularly if the person is a beginner. However, advising people not to trade or invest in Bitcoin because of the risks or volatility associated with it is not a good idea.

[Davidvictorson]

~snip~

We can actually read what you have written even if you don't use the red and blue colors and the massive font size. As newbie, please take note of this as it makes your topic a bit stressful to read and comment on.

Bitcoin is a threat to central banks and other financial institutions. Therefore it is no surprise to see the backlash coming from them. Although, I understand that there is a huge risks that follows investing and Bitcoin and those you venture into it must read and thoroughly do their home, yet in the last decade Bitcoin has been one of the best performing assets that there is.

[Upgrade00]

Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin.

Bitcoin did not recently come into limelight, it has been in it from when it crossed the $1,000 mark.

However, many experts are warning about this.

Want some rookie advice; so called experts rarely are experts at all.
Another advice you do not have to use larger fonts or brighter colours to get attention.

[DrBeer]

Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin. However, many experts are warning about this.
➤ How safe are Bitcoin transactions?[[/color]

Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

The only thing that poses a real threat, to the country, is the loss of control of citizens' incomes, and the difficulty of "getting into their pockets, by a caring government".
The only thing they are right about is that the volatility of cryptocurrency, can not only generate additional income, but also the loss of assets invested in cryptocurrency ! Citizens of the country should be informed about this, familiarized with the risks, and take the risks on themselves, so that then do not run and do not demand from the state to save them from their own ill-considered steps.  Cryptocurrency is not a fraudulent scheme, but it is a specific market, with the possibility of manipulation and speculation, and this should be taken into account if you want to "make money on crypto"

[Aanuoluwatofunmi]

If you're going for trading, first think about the means and ways you have used to earned or gather that financial funds assigned for that purpose, when you realized all you've been through to earn such, you wouldn't want to enter into trading like as if you're gambling, because any chance of making mistakes will results to making a huge loss on your trading capital, you must understand the pattern of bitcoin market price moves and use the chart to make the required speculations to give you some level of accurate research.

[Zlantann]

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

You didn't drop a link to enable us to read the details of the information. Who are these economists? Want are their track records? How did they conclude that investors will suddenly withdraw all they have put in? Even if they sell it, other investors will still buy the coin. Bitcoin has gone through the process of buying and selling for many years and the system has never collapsed. I suspect that these are armchair economists who want to promote FUD.

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

This is not the first time central banks are issued such a warning. They are just scared of the decentralized nature of Bitcoin and want to promote fake news about the coin. The use of Bitcoin has kept increasing in my country even when the government restricts its use and discourages people from using it. Bitcoin has proved to be a hedge against inflation and offers better payment options which is why people will keep embracing it regardless of these attacks.

[KiaKia]

Sorry to say this can't work anymore, if you believe in what you are sharing you are on your own, they are trying to strike fear in the mind of people to make them sell their Bitcoin, it was harder to see the future of Bitcoin when it was $100, I believe that Bitcoin have already fought the toughest battle and it won, if survived this long and now the institutional want every bit of Bitcoin, ETFs are on the verge of getting approvals, if Bitcoin was a joke all along it's decentralization would have failed, this part never failed me and Bitcoin is the problem solver of all these centralized problems, it's not hard to see unless you are blind.

It's 2023, I don't expect anyone to still have this type of mind set about Bitcoin, the worst times are already over, Bitcoin could have been stopped when it was new, people only need to ignore and not accumulate then it won't grow, Bitcoin is the real people's coin, I understand it's existence and it is solving the issue I have with the government and the Bank.

Tip: Next time always drop the link to whatever you are planning to talk about if you aren't the original person that crafted the story.

[DeathAngel]

Economists are always going to advise against Bitcoin investment because they didn’t get taught about it at school. Most of them are still stuck in the 80’s thinking Wall St is the only way to go. Just look at the facts, since 2009 when the first block was mined, there has been no better investment than Bitcoin & I expect that to continue for decades. Bitcoin is a must have for any investor.

[michellee]

Economists say things like that to scare people. Everything has risks, in any case. But if they learn more, they can definitely handle the risks well. This is why, if people want to invest or trade in crypto, they should use the money they can afford. Don't do it with a lot of money if you can't afford it.

Someone who is tempted to make big profits in a short time will use a lot of money. They become greedy and forget only to spend the money they can afford. It's better not to listen to what the economist says seriously and it's better to learn more about crypto.

If a person only receives information from others without studying the information, they may receive wrong information. He will not see that the information is actually wrong. That's why he had to look for other information to find out the truth. Likewise, if you read or hear someone say about crypto. You have to look for other information for comparison. The more you learn, the more you gain.

[Negotiation]

Bitcoin is the best currency to invest in it stands at the top of all currencies trading is not possible if there is no capital needed for trading. There is considerable volatility in the bitcoin market which provides various opportunities for profit. There are a few reasons why traders should consider bitcoin trading as easy as it is to access the cryptocurrency market and trade bitcoins traders must understand that some basic knowledge skills and experience are required to start trading. Understanding market movements requires focus not only on major trends try to understand the market better by practicing trading.

[bettercrypto]

When it comes to long-term investment, Bitcoin is really one of the most proven and tested. But that doesn't mean it doesn't have risk; of course it still has risk; we know it's a volatile asset. It's just that because what we're going to do here is long-term, we should just be patient and not impatient.

Now, whatever you said on this topic, of course, it still remains your assumption. But anyway, for sure, the price of Bitcoin will really rise in the market, especially since we are approaching the halving and bull run next year.

[mirakal]

~snip~

We can actually read what you have written even if you don't use the red and blue colors and the massive font size. As newbie, please take note of this as it makes your topic a bit stressful to read and comment on.

Bitcoin is a threat to central banks and other financial institutions. Therefore it is no surprise to see the backlash coming from them. Although, I understand that there is a huge risks that follows investing and Bitcoin and those you venture into it must read and thoroughly do their home, yet in the last decade Bitcoin has been one of the best performing assets that there is.

Well, what else do we expect from those who simply do not support the existence of bitcoin. Of course, they will try to attack bitcoin as much as they want because they don't see it as a legal and real currency, but often a tool for scammers and criminals. But despite of those accusations, bitcoin even surge high and now its price has become even more risky to invest because of its highly, expensive price.

That is why despite of its high profitability, we are still advised to invest with caution and do a lot of research before deciding to invest in a high risk asset. Always invest an amount that you can afford to lose, that way you'll be safe from the inevitable losses that appears in the market.

[Gozie51]

Well I think that is one of the bubble stories of the early days of bitcoin and bitcoiners have well closed their eyes to that because nothing of such has happened after a decade and counting of the existence of bitcoin. More so is that the fact that bitcoin is not controlled by a government but by the people through Blockchain and its transactional transparency, then more people have hope in bitcoin investment. About pulling the rug of investors feet, I think the incident of the bear in 2018, 2019 to early 2020, during the covid that bitcoin went down to around 3,500, is already a testimony. The ATH and current price is enough to prove that after the bear season come the bull season. It is a circle, understand it and enjoy the ride.

[Charmekkd]

~snip~

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

This could indeed happen in the bitcoin market. However, the chances of that happening in my opinion are currently very small. Because after all, most bitcoin investors definitely know that bitcoin has clear habits every year that make it easier for investors to start every step of the way. Starting from the buy, hold and sell phases. So if it were not for news or events that could affect Bitcoin, it is unlikely that many Bitcoin investors would suddenly withdraw their funds from the market.

[iv4n]

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

I guess that he fears that he will not be able to control Bitcoin as he can control fiat. If they are not able to control money they will not be able to have so much control of people...

We have been seeing this & similar headlines for years, and Bitcoin is still here, getting stronger every year. I can just repeat what we have been saying here on the forum for years, these kinds of headlines are just announce that the bull run is very close.