No need to freak out, we’ve seen dips like this so many times already.
To lighten the mood a bit, let’s do something different...
If you want, drop a short poem or rhyme about this Bitcoin dip. Anything that is funny, sarcastic, inspirational, whatever mood you’re in.
Who’s got one?
This time I'm ready than ever. I was mentally prepared for bitcoin going below $100K support. Breaking this support may mean bitcoin falls to upper 70Ks. With such drop in bitcon, we could expect a bloodbath in alts. Even though I don't have much USD to buy low, the price of my holdings has decreased to a low one and a bull is all I need to go green.
Holy shit tsaroz. You have been registered on the forum similar to me, and right around the same time that I started buying bitcoin, yet you still have not gotten your bitcoin holdings into the green.. after 12-ish years?
I did a quickie look at some of your historical forum postings, and it seems that holy shit you have been distracted over the years into a variety of shitcoins and striving to get rich quick rather than just focusing on bitcoin.
Yeah, maybe you could not have invested a lot into bitcoin, yet with a combination of investing into bitcoin and your various signature campaign participations, you should have had been able to build up a good bitcoin stash by now.
Just think about a mere $10 per week over that 12-ish years would have still caused you to invest around slightly more than $6k, and you could have had accumulated close to 4 BTC. You would be in a good place, even with a mere $10 per week... yet no matter the amount, if you had just been consistent, it is likely that your costs per BTC should have had been well below $5k per BTC, even if you had continued to buy until now..
Part of the key with bitcoin is just ongoing consistency in buying and not even thinking about the price rather than trying to strategize buying dips, since if you just keep buying, you will also have times that you buy dips, but largely the idea would be that you would ongoingly be buying as much BTC as you can as your income is coming in and not spending time waiting or figuring out about whether there is dip or not.
You would ultimately end up buying dips, and you would ultimately get into bitcoin as much as you can as soon as you can, so then once 4-10 years or more pass and if you had continued to buy through that time, you likely would have some BTC you acquired in the beginning for lower costs per BTC as compared to your later acquired BTC, yet none of us can go back in time, so we just have to continue to ongoingly buy BTC rather than spending a lot of time strategizing around waiting tactics that likely won't end up working.. as your history in bitcoin and perhaps ongoingly getting distracted into shitcoins and/or waiting for dips seems to show..
Unlike the previous times, I have zero leveraged positions, so I'd not liquidate at all.
Good. At least you did not go down the leveraged part. Leverage is even worse. Historically, bitcoin has been almost guaranteed to win, yet guys have sometimes employed leverage and then end up turning a winning asset (namely bitcoin) into a loser.
Even though most of my coins are below the buying price, especially bitcoin, I'm just going to outlive the bear.
Get rid of your other coins. Fuck shitcoins. Try to focus. Shitcoins are largely just gambling and they are not long term plays. Since shitcoins are not long term plays, then there is no reason to hold them because there is a lot of distraction and you have to try to figure out when to get into them and when to get out of them.. largely a BIG waste of time, unless maybe you can figure out some way to limit your fucking around with shitcoins and/or trading to less than 10% the size of your bitcoin holdings. But, yeah, gamblers have almost no ability to control their temptations to gamble.. I understand, even if you were to try to limit your shitcoining/trading to 10% the size of your bitcoin holdings, you likely would be unable to maintain such limitation.. since you are likely having difficulties controling your gambling tendencies.. and desires to get rich quick, which ultimately is taking away from your bitcoin holdings.
There are a few altcoins that are still on my trading range but I know alts are going to suffer much more and I'd still be glad to bag them at better price.
That is the tough part.. Trying to figure out when to get out of that nonsense or just let them ride.. At least if you figure that you need to get out of them, at least you are likely in a better position for at least recognizing that .. even though I am not sure if I really believe you. Many shitcoiners say that they are going to quit their shitcoins, but they cannot resist the next time they see another tempting offer of some new shitcoin.. so you get into one shitcoin and get into another. .It is hard to stop shitcoining, because you are easily distracted and not able to limit your shitcoining to some reasonable amount, such as less than 10% of your bitcoin holdings for all your shitcoining and/or trading. You cannot do it. You are a likely degenerate. Hahahahaha.. Look in the mirror and say to yourself "I am a degenerate." ahahahahaha Maybe at that point, you might be able to be inspired to fix your degeneracy.
It’s never the whales or the wild market that ruins you,
it’s your own expectations,
the ones you feed like pets,
until they grow up and bite you back.
There is likely quite a bit of truth in that. Each of us needs to attempt to prepare ourselves financially and psychologically for BTC price moves in either direction, even extreme movements. Easier said than done, even though we can put systems in place to attempt to best prepare ourselves for either BTC price direction.. and it tends to take time to build up such systems, and even if we currently find ourselves in a somewhat bad place, we can still build from where we are at rather than building from a place that we wished that we were.
Bitcoin price is dipping and the best thing to come up with is making a fun poem out of the situation? Well done.
I would rather advise people like this.
1. If you are not ready to hold Bitcoin for the next 7 months it is better to consider selling, take some profits at least.
2. Any short term holder shouldn't be in Bitcoin right now, what you plan to use your money for in two months time might turn impossible because of lower value.
The singing and fun drive that OP is looking for is suited for investors who are ready to Hodl for the longest term maybe into the next bull market.
Well that is why we are advised from the onset to always
invest with what we can afford to let go and for those who do not use
what they can afford to let go, I'm so sorry for them because they will sell at loss. Bitcoin is not good for trading or holding for a short term and the reason is what is happening now in the market, while traders are panicking investors are busy taking advantage of the market using their discretionary income. Holding Bitcoin for the next 7 months is still the same thing as trading and do you think in the next 7 months Bitcoin will surge? Well that will be an assumption or speculation because it may not.
The expression is that we invest with what we can afford to lose.. which means that we are not emotionally attached to the amount, since we know that the amount could end up going to zero.
At the same time, no one invests with an expectation of losing money, yet there is a need to be both financially and psychologically prepared for losing all of the money that we invest.. We lock the money away, and there may be times that the money is in profits and other times that it is not, and surely we invest into something like bitcoin because we anticipate that ultimately the BTC price is inclined to go up... yet we cannot be 100% sure of that... so we ride it through the ups and downs, and sure those ups and downs may come at unexpected times.. yet we still might spend 4-10 years or more just buying bitcoin little by little to acquire our position, and surely the more aggressive that we are in regularly buying then the more likely that we would reach our BTC accumulation goal sooner rather than later, but we still don't really know.. we plaud away at ongoingly buying bitcoin, and these dip periods should seem good to anyone who is still buying bitcoin and still accumulating.
There may be periods in which we are not sure if we have enough bitcoin so we might not be sure if we are moving from our accumulation stage to our maintenance stage and then to our liquidation stage, yet it would seem that dips like this would either incentivize further buys or just holding through such periods if we are not still buying bitcoin during dips or at other times.
