Do not get discouraged by the current price of Bitcoin

[Princess Leah]

 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  

[MeGold666]

Never advice anyone to invest in anything, if things go south - you will be blamed, you will lose a friend or maybe get in a life long fight with a family member.
Worst case scenario, they will go to court with you for wrong financial advice etc.

Best case scenario, the investment goes well - they will praise themself for investing and maybe you'll get a "thank you".

Even if you put "disclaimers" that they can lose everything, the anger will be as high as the hype they had when investing.

As for buying/selling opportunities, each trader has his own "strategy", less advanced ones follow others but in the end it's as good as "systems" for winning a lottery / slot machine "jackpot".
What you need to have is rules, iron rules that can't be bend like selling when certain asset goes down more than x percentage, otherwise you're just holding for your dear life on a stormy weather.

[TheUltraElite]

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.

[Doan9269]

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  

Getting discouraged? only the newbies just joining may have a second thoughts about bitcoin market price, we have been into this for a while now, last year when Bitcoin go dip as far as $16,000 and people never loose hope, this is just a mere warming up, to create an avenue for those interested on making an investment, they could rather see this as an entry point for them to invest and wait till the same opportunity lands for more bull, what we are seeing is only preparing us for the expectations ahead, the earlier the better we understand that all we need is to hold now.

[Easteregg69]

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  

Getting discouraged? only the newbies just joining may have a second thoughts about bitcoin market price, we have been into this for a while now, last year when Bitcoin go dip as far as $16,000 and people never loose hope, this is just a mere warming up, to create an avenue for those interested on making an investment, they could rather see this as an entry point for them to invest and wait till the same opportunity lands for more bull, what we are seeing is only preparing us for the expectations ahead, the earlier the better we understand that all we need is to hold now.

On credit score. You can use it for collateral if you want a loan.

[Riginac111]

I don't believe that at this present time people will still be lamenting that Bitcoin is a scam they don't have to take them anything to make a research So find that if Bitcoin is a scam or not because many people now is into the bitcoin markets because they have already noticed that Bitcoin is not a scam and the when you invest on it properly you will make a profit but when you don't invest on it properly you will not make a profit so that is the thing that is involved in Bitcoin.

Currently is not good for someone to be dependent to the friend in anything that deals with cryptocurrency because you can make a research with your handset and the laptop if you have any of them when you carry on your research you will find out the good and the bad that is involved all that is into a cryptocurrency, that is why they get discouraged by people concerning the price of Bitcoin because when you are not informed you will be totally deformed.

[AnonBitCoiner]

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.

[serjent05]

Those who don't have patience will never have huge profit on Bitcoin.  Weak hands will sell, let them, just keep on DCA and be glad of the current discounted price of Bitcoin. 

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.

Let him be, it is his loss, not ours.  Besides if we insist to tell them not to sell, he might get annoyed and get angry with us, so just let him do what he intended to do.  After all it is his Bitcoin so all the right to sell is on him.

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.

Well, probably the guy is misguided by the person who introduced Bitcoin to him.  Probably the guy (the one who introduced Bitcoin) told the guy that Bitcoin market is ever increasing.  And now that the market plummet, this guy got disappointed the reason why he wanted to sell his Bitcoin holdings.

 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 

If one study the Bitcoin market history, he won't be surprised on the current price crash.  Bitcoin is highly volatile plus there are people who have huge stash that tends to influence the market by initiating sales to crash the market or buying to make it surge.  Since most of the huge trader uses Bot, any event that crosses its stop-loss will trigger liquidation and that maybe the reason of the sudden sell-off in the market.

[cryptoaddictchie]

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  

Well thats inevitably on some people to get scared especially when they are seeing their portfolio cracking down. There will come a time that most users will understand that this is a test of emotions and should not be overstepped. Focus on building or something you knew have sense later on. Seeing red blood msrket will only give you headache focus on other stuff.

[electronicash]

those with short-term purposes in buying BTC will panic and sell. most of them desire to make a profit as quickly as possible and get out because they probably need the money for something else. but its not very surprising anymore that in every bull run they think they could cash out every time the price spikes, this is why they are also losing money because every time the price also dips, they sell in panic.

once FED meeting is over i think those guys will also rethink of buying again. every time there is news about cut ratings or big cryoto personality imprisoned I guess there is something to Fud about.

[m2017]

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.

Your friends represent 2 types of BTC-investors:
1 - Absolutely not understanding and not trying to understand the fundamental principles of bitcoin pricing, not to mention the technical aspects and capabilities of this financial asset. This category is only interested in quick and instant profits.
2 - Reverse opposite. This category may show genuine interest in technology (at least superficially).

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 is very unpredictable and, as if on purpose, doesn't live up to expectations, changing the “trajectory of his flight” in a completely opposite direction from expectations.

Everything would be too simple if it was enough to “buy before halving -> sell after -> take profit”. The cryptomarket knows how to arrange surprises.

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  

People from 1st category panic more often and suffer losses. This is the unfortunate fate of quick, superficial investors. It seems that you are from the 2nd and therefore maintain your composure and accumulate bitcoinsold by the 1st category of investors. Anyone here will tell you that you are great.

[BitMaxz]

We don't have any control over the current price market of what will be the price of BTC. There is a dark pool of known companies or big traders who privately trade on the crypto market where no one knows if someone in the dark pool is selling a large amount of BTC or buying.
Right now if we see bearish price movement about BTC we can't control anyone who wants to sell their holdings it's the nature of newbies who do not know the risks of crypto I have experienced too that they said BTC is a scam but the fact is I didn't invite them to invest I just let them know about what is bitcoin and how it works.

There's nothing we can do to those who don't believe let them experience some regret once the price of Bitcoin rises again near ATH or reach a new ATH.

[yhiaali3]

I am sorry to tell you that your friend will soon regret selling his Bitcoin. This is a time of fear and those with weak hands will quickly give up their Bitcoin, which the whales will happily swallow.

This happens in every cycle, especially with those who do not have much experience in the Bitcoin market and its price cycles. It is true that Bitcoin has declined currently, but it will return quickly and exceed its previous peaks, so the prize will go to those who are patient and hold on in the long term.

[Nwada001]

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.

Anyone who is experienced and has not just rushed into investing in Bitcoin because of the fancy advertisement most people spread about it and halving should be able to understand that Bitcoin prices don't just move upward just immediately after the halving.
 
For the guy with whom you overheard their discussion, expecting Bitcoin to reach $80,000 just after halving is a clear indication that they don't even know how halving and market movements work.
 
Those who invested their money on bitcoin just to cash out after the halving with a large profit with what's happening right now in the market will definitely be discouraged to take such a step next time, which is why people need to study what they are investing in before rushing to conclusions. Overexpectation is what kills most newbie investors.

[BlackHatCoiner]

Newbies get discouraged because of the price fall. Experienced ones get encouraged, because of the opportunity to buy the dip. Honestly, that's exactly what I'm feeling right now. Cheap bitcoin coming out of the weak hands' wallets.

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

It happened in May 2020. Halving occurred in ~$9k, then for a couple of months it fluctuated in the $9k-$10k range, and then in July, it hit $12k and stayed there for two or three months, IIRC. In November it hit $15k, January $30k and the rest is history.

[RockBell]

I don't believe that at this present time people will still be lamenting that Bitcoin is a scam they don't have to take them anything to make a research So find that if Bitcoin is a scam or not because many people now is into the bitcoin markets because they have already noticed that Bitcoin is not a scam and the when you invest on it properly you will make a profit but when you don't invest on it properly you will not make a profit so that is the thing that is involved in Bitcoin.

Currently is not good for someone to be dependent to the friend in anything that deals with cryptocurrency because you can make a research with your handset and the laptop if you have any of them when you carry on your research you will find out the good and the bad that is involved all that is into a cryptocurrency, that is why they get discouraged by people concerning the price of Bitcoin because when you are not informed you will be totally deformed.

There are still people that will tell you they don't believe in Bitcoin and I don't blame them. they don't know what Bitcoin is all about, they have an idea of the worth and the value of Bitcoin they hold on to that mentality calling Bitcoin a scam. based on experience that the majority of them have encountered with Ponzi scheme they are using that same experience to judge Bitcoin and Bitcoin is not Ponzi,  but if they have anyone to give them an orientation about Bitcoin and they get to understand Bitcoin they won't want to leave it the only challenge they will be having is waiting for the price to go up whenever the price is down.

People are getting to understand Bitcoin more compared to before, still wondering how Bitcoin was able to get people's trust and also get them to invest even in market news you get to see news about Bitcoin. is good that anything you want to do in cryptocurrency makes your research and your own decision, bitcoin is based on information and it will be much better if you have that information.

[GbitG]

Those who don't have patience will never have huge profit on Bitcoin.  Weak hands will sell, let them, just keep on DCA and be glad of the current discounted price of Bitcoin. 

Huge profit = Hodl !
I have a unanimous opinion about it, like you, that profit is always in front of patience. I mean, if someone doesn't have the ability patience, obviously he can get the chance to get back with a high profit. 
 
To b honest To the extent that I have knowledge about the market, I think that this time there is a much better scenario than the previous experience. Those who have seen the previous halving know that after the implementation of halving, this price dynamic decline is a grab opportunity, There should not be panic, it is best to hodl and to buy more is a wise stance in current sentiment. 
 
Experienced traders are looking for the opportunity to get a slightly discounted price of Bitcoin in the bull market. The accumulation of bitcoin is yet to be found. So don't be scared, it's nothing more than normal, they say "healthy correction is necessary for the next jump".

[peter0425]

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.

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

Bitcoin is a digital asset that can be owned, bought or sold.

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  

You are correct and if people are selling then it just means more for us  

[aylabadia05]

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.

It's just a waste of time and positive thoughts to try to explain everything related to Bitcoin to such models of friends who think Bitcoin is a scam.
His understanding of Bitcoin is only about price. Only willing to accept Bitcoin when the price is increasing while when the price is decreasing, one or two reasons will be born to consider Bitcoin a fraud.

If you continue to be in a friendship environment like that, it's bad for you. If you have no other choice, confront your friend with his stupid thoughts by explaining that Bitcoin is not about 1, 2, 3, 4, 5, 6 or 7 digit prices. Still persisting in his stupidity, leave him.

[The Cryptovator]

Panic holders will definitely be discouraged; you can't stop them. Even they will not care about your explanation and can't convince. When they see the red candle, they think it's impossible to recover and become afraid. There will always be a few people there who become panicked by the red candle. But legends will accumulate on the dip and make money. Panic sellers buy at the top and sell at a loss. It's true that Bitcoin isn't acting well after the halving. It's normal that Bitcoin will take fuel before another pump. So the current situation is normal, and we will see another breakout soon.