Do not get discouraged by the current price of Bitcoin

[serjent05]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam

It’s crazy to think that in the year 2024 people still believe that bitcoin is a scam.

It is crazier to think that in the year 2024 there are still people who do not know that Bitcoin exists.  Bitcoin adoption and information dissemination is still in the process to reach people that are yet to know about Bitcoin especially those who are in rural areas.

I just know that these people do not understand the actual concept of bitcoin that is why they say that it is a scam. I do know the dangers of scams particularly ponzi schemes however it has been well 15 years since bitcoin was launched and people still do not understand how different bitcoin is to a scam

Well, there are people who were a victim of ponzi schemes and fraud company that uses Bitcoin as their "products" to entice people into investing in their company, so we cannot avoid that people who are a victim of these schemes may think that Bitcoin is a scam worst, probably they even spread their belief to their friends making these "friends"  think that Bitcoin is a scam without even knowing what Bitcoin is.  So it won't be surprising that there are still people think that Bitcoin is a scam, even in social media some known people still think Bitcoin is a ponzi scheme.

But regardless, as long as a person understand the Bitcoin market, instead of being discouraged, they will be greatly encourage to accumulate Bitcoin especially when it price drops and it happened after the halving because the Bitcoin history shows that price surge after some months of the halving event, and this is the best time to enter and reenter the market.

[Fiatless]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

The guy who wants to sell reminds me that you can never lose investing in Bitcoin except you decide to sell prematurely. The problem he is having is ignorance and it will cause him to lose some money. These are the same people that will go around saying Bitcoin is a scam, meanwhile, they failed to do a proper study of the industry before investing.

When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

These premature investors came into the Bitcoin market with the mindset that Bitcoin is a get-rich-quick scheme. The want to invest today and cash out big profit in few days. I don't think the Bitcoin space needs this kind of investors who come with this kind of orientation. We still believe that Bitcoin price will go up but nobody knows when or how. We just have to be patient and don't allow FUD to determine our decisions.

[South Park]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

 When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

 I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

Weak hands are their own worst enemy, since the only thing they need to do to accumulate profits they may not see in other markets, while at the same time they take almost no risk on the process, is to keep holding their coins, but many of those people expected for bitcoin to present an upwards movement immediately after the halving, and this was not going to happen, since whales are really smart and they are playing with the patience of those people, knowing very well they will get desperate and sell their coins, which they can later buy for cheap.

[Kristiyana]

Actually I think a lot of people get discouraged because of the current price of bitcoin. But that's not enough reason for you to get discouraged,   considering the current situation  of bitcoin yet no coin was able to overtake bitcoin, that is why bitcoin happens to be the most reliable and profiting coin in terms of investment. However I can never get discouraged no matter how the price is, I will just stick to it, reason been that I know pretty well that the future is bright, is only those people who does not understand the market very well that will get discouraged.

[Obari]

This period is the correction period where a lot is happening and I believe, core investors wouldn’t be panicking in any way now but rather be seeking ways to buy more and accumulate more of bitcoin and just for the record, bitcoin has already touched a new ATH even before the halving and if there is any reason to believe and trust in bit coin, should be now in the bull run market where everyone one but the newbies with proper coach or mentor  and the Learned investors should all be earning from the market at this very point.

Rather than wanting to fight the gospel, I think, it will be wise to join the moving train and make some good and rewarding profits rather than been left out because of ignorance.

[Finestream]

If he is not ready to follow his friend's advice then he should not blame his friend in future and the current dip is not a sign of scam but it is a correction. If bitcoin was a scam project then no one would have earned such a huge profit ever for the time of its origin.

If we are in doubt about any investment then we should not choose that platform because it is better to save our money instead of losing it due to our fear. If someone thinks that Bitcoin is a scam then don't force them to hold it because they will realize about their mistake in future when they will see another ATH.

This is the reason why one should not enter any investment most especially if it’s a highly volatile one like bitcoin if he is not ready financially and emotionally. Otherwise, he will only be capable of holding for a short time and when his expectations do not meet, he will end up with a decision that will most likely lose his investment.

[Rengga Jati]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

I really wonder why people think that when Bitcoin doesn't meet their expectations, they immediately assume that Bitcoin is a scam. Moreover, they only look at the market from the halving. But what is certain is that I understand that perhaps it was due to their disappointment when they saw their portfolio drop drastically.

However, the price of Bitcoin will definitely change. I think the best way is to stay calm and think clearly. As well as providing an opportunity for the crypto market to make quite good progress. but this certainly won't be easy. be patient, once again. We can also take advantage of this opportunity very well. But indeed, it won't be that easy. still a long time.

[Zoomic]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

 When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

 I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

A lot of people were really misinformed about the whole halving thing. Before the halving there were lots of stories everywhere advising prospective investors to buy bitcoin because 'immediately ' after the halving, there would be lots of profits to go home with. Many people bought bitcoins because of what they were told about the halving and right now, they are regretting buying, probably because they have invested amounts they cannot afford to lose. There is no point convincing someone who is no longer interested in Bitcoin to stay. This is why it is adviceable to always let prospective investors know that even though Bitcoin is a great investment opportunity, there are also risks attached to it. The people should be left with the decision to make by themselves if they want to take that risk or not.

The current bitcoin price should not be something that will bother anyone, we already know that bitcoin price is highly volatile, so keep holding. This is just a phase, soon we all will be smiling again.

[Adbitco]

There are lot of people who still need to study about bitcoin and the important of holding bitcoin, I know some people See's it as somewhere to make quick gain without them knowing it doesn't work that way they think. Most people just focused on the aspect of making profit from it without knowing that it requires time to hold and make gain, usually those who came with the mindset to immediate profits are the people who easily got discouraged over the price where they could get panicked and sold of the little they are holding instead of to keep accumulating as the market drop within these few days.

[Lida93]

When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

People that knows the value of the asset they are holding wouldn't have time to worry about the market price  rally  as it's not something new about bitcoin having.  The fear that some bitcoin investors entertain is due to their in-depth lack of knowledge about bitcoin. Any bitcoiner should know following the history of past market circles that the event of the halving doesn't mean an immediate ATH or a follow up rise in bitcoin price. It could take months or a years depending...

Been aware of this, all I do right now is buy and hodl with each price dip as the price keep rallying.

[Maslate]

Since the price is seeing new lows after the all time high and this is just the start of a month, there is panic selling happening with the dumping and making it seem its all going bad. This is nothing new and it will happen in every bear run.

You cant stop people from saying bad and from dumping their coins at a loss during such periods. Our target is to increase our stash of coins and hence we have to buy at the low when the dropping rate aka deceleration reduces, so you will be buying at a discount from the weak hands.

Let the prices fall, make money from prediction games predicting these losses and dont fret, because cycles are the normal thing in crypto.

Let these people sell and eventually learn a lesson from it. For me, it’s not bad to sell your coins as long as you know already that you’ll end up at a loss. But as long as you’ll learn from your loss, that will matter the most.

Post halving events are certainly testing our patience a lot most particularly for beginners. And even if you fall from it, that’s still fine as long you will not repeat doing the same mistake again the next time you invest and hold for long term.

[Russlenat]

Actually I think a lot of people get discouraged because of the current price of bitcoin. But that's not enough reason for you to get discouraged,   considering the current situation  of bitcoin yet no coin was able to overtake bitcoin, that is why bitcoin happens to be the most reliable and profiting coin in terms of investment. However I can never get discouraged no matter how the price is, I will just stick to it, reason been that I know pretty well that the future is bright, is only those people who does not understand the market very well that will get discouraged.

Not all bitcoin investors can manage their emotions when they are seeing their investments are dropping its value. And even if we are seeing them selling their coins, still they have the right to do it because it’s their money in the first place. However, if you are one of them, know that this is the best time to sell but most probably the best time to buy more bitcoin. If you are here for long term holding, then focus on it and don’t be bothered with how price correction gets worst in the market.

[Y3shot]

There are lot of people who still need to study about bitcoin and the important of holding bitcoin, I know some people See's it as somewhere to make quick gain without them knowing it doesn't work that way they think. Most people just focused on the aspect of making profit from it without knowing that it requires time to hold and make gain, usually those who came with the mindset to immediate profits are the people who easily got discouraged over the price where they could get panicked and sold of the little they are holding instead of to keep accumulating as the market drop within these few days.

It is just about the profit and another problem people have when investing bitcoin is calculating and predicting when money can be made from bitcoin.  Even in thus halving,  so many people were thinking immediately after the halving the market value will be increasing so quick. After the halving the fall of bitcoin recently was a surprise to people because it was expected that after the halving their would be good profit in the market. Bitcoin is all about hodling , people should never be tired of hodling if they really want to make profit in bitcoin because it is only through hodling profit can be gained.

[Adbitco]

There are lot of people who still need to study about bitcoin and the important of holding bitcoin, I know some people See's it as somewhere to make quick gain without them knowing it doesn't work that way they think. Most people just focused on the aspect of making profit from it without knowing that it requires time to hold and make gain, usually those who came with the mindset to immediate profits are the people who easily got discouraged over the price where they could get panicked and sold of the little they are holding instead of to keep accumulating as the market drop within these few days.

It is just about the profit and another problem people have when investing bitcoin is calculating and predicting when money can be made from bitcoin.  Even in thus halving,  so many people were thinking immediately after the halving the market value will be increasing so quick. After the halving the fall of bitcoin recently was a surprise to people because it was expected that after the halving their would be good profit in the market. Bitcoin is all about hodling , people should never be tired of hodling if they really want to make profit in bitcoin because it is only through hodling profit can be gained.

Those who thought of instant profit immediately after halving doesn't have a basic understanding about bitcoin maybe I will say they are newbie invest because those who knows how the system works can never have that mindset or feeling, I know and I had it in mind that after halving we would witness a little down time for another 3 to 7 months before we could likely smell uptrend within the market. So for those who are desperate of making profits would never see it coming except they had to hold for long time.

[Yatsan]

We saw it fell under $20k, what's the idea of being afraid at this point? Its market price climbed the way up and the decline we saw recently is just a mere price correction. Problem is how people expects from a halving. Well, indeed the market price is expected to go up however nothing happens in an instant. Do try to check the pervious market price chart during having and look for how many months before the uptrend took place. Yes nothing guarantees that same thing will exactly happen but that's the only thing we could depend on at this point. What I know is that volatiity is in nature of cryptocurrency market prices and that no coin will have a consistent uptrend without any curves into it. What's best for now is to wait and to take advantage of the dip. It is still a good time to accumulate a decent amount of Bitcoin in preparation to bullrun.

[SatoPrincess]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

Where did all this expectation come from? Because historically, Bitcoin has never hit ATH immediately after a Bitcoin halving so where’s this narrative coming from? It is obvious that this person does not have understanding of Bitcoin and only bought Bitcoin recently hoping to make profits from the halving.

I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

My logic is that now is always the right time to buy bitcoin. Procrastination only delays your opportunity to accumulate more bitcoin because if you’re a long term investor, waiting for a dip or the right time is not a strategy you should be using. People who bought bitcoin at $20k, $25k, $36k, $40k are still in profit. Never let the current price of bitcoin discourage you from acquiring some.

[Ndabagi01]

When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

Bitcoin already passed the all previous all-time high even before the halving took place. Some weeks to halving, it went down that price and hasn’t been able to break that price again as a result of the halving. Before the halving events, the price of bitcoin always goes below the existing all time high and as such it was not a surprise after the drop. What people don’t understand about the halving is that, it doesn’t immediately have effect on the price of bitcoin, it takes sometime before the event of the halving that took place will be felt, this is true from past history.

[Ale88]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

 When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

 I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

Criticizing bitcoin because it's "only" at $60k is simply mental. There is no other asset that grew in value like bitcoin did in the last 10-12 years, only someone who is highly ignorant could be disappointed by the results bitcoin managed to reach. People like that don't even deserve to own bitcoin, they better go betting on football matches or buying lottery tickets.

[LogitechMouse]

~
a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

Those who are panicking are those who are newbie ones who just starting in investing. Maybe there are some old ones who are panicking as well, but I believe they are few.

Most of the people are panicking because they're not used to see their portfolio being down double digit in percentage. They are panicking because they think that everything will just go down and everything will go to zero. They don't know that this decrease in price is a perfect opportunity for us investors to buy not only Bitcoin, but other altcoins as well at a much lower price. We know that newbies tend to panic in times like this so what do we do as old investors is to teach them and tell them not to panic at all because corrections like these are just temporary.

Holding is the best option indeed, but holding too much will also lead to missed opportunities. I would say hold when everything is down and sell when everything is up. Don't panic because that will not help you at all.

[arjunmujay]

I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

 When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

 I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

Criticizing bitcoin because it's "only" at $60k is simply mental. There is no other asset that grew in value like bitcoin did in the last 10-12 years, only someone who is highly ignorant could be disappointed by the results bitcoin managed to reach. People like that don't even deserve to own bitcoin, they better go betting on football matches or buying lottery tickets.

those who say that are not real investors in my opinion. they just want profits and a quick increase in value. It's true as you said, people like that don't deserve to have Bitcoin and are better off betting on gambling that can double their money quickly.

There are no investors who immediately get very fast profits anywhere. For Bitcoin, you can hold it for at least 4 years before you can enjoy the results of its increase in value. the longer the better. Even when compared to investing in gold, Bitcoin is much more profitable.