Emotional

[g-unit]

I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.

I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.

I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.

[ronald98]

It's difficult not to get emotional if you lose thousands of dollars in an hour through your bitcoin investments. Professional traders are trained not to get emotional, but I bet there are times when even they start panicking.

[Mervyn_Pumpkinhead]

I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.

I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.

I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.

I think that the only healthy way to take bitcoin speculation, is to take it as gambling.
People who realize that it is gambling, know that the odds aren't in your favor. Those people go to the casino to loose, not to win. They consider this money as payment for entertainment and they consider wins as unexpected bonuses. The degenerate gamblers get emotional because they think that their gambling is actually "earning by investment". They always need just a little more money to win some money back, without realizing that in the casino, the house always wins in the long run.

[g-unit]

I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.

I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.

I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.

I think that the only healthy way to take bitcoin speculation, is to take it as gambling.
People who realize that it is gambling, know that the odds aren't in your favor. Those people go to the casino to loose, not to win. They consider this money as payment for entertainment and they consider wins as unexpected bonuses. The degenerate gamblers get emotional because they think that their gambling is actually "earning by investment". They always need just a little more money to win some money back, without realizing that in the casino, the house always wins in the long run.

Good point. Yes bitcoin could theoretically go to $0 and stay there, but most likely it will recover. When? How much? To what extent? God only knows. I was down over 50% in my investments during the stock market crash in 2008 or whatever. Was I happy? No. But instead of panic selling at a huge loss those accounts have higher balances than they did before the crash without me adding more money into them.

I don't know...maybe I'm just calmer than the vast majority of people. When I invested in bitcoin I knew there was the very real possibility of my fiat being tied up for a long time, which has been the case...

I see it as a venture capitalist investing into a start-up company but as less risky. If the company fails you're completely burned. I would be very surprised if bitcoin went to $0. Just my 2 cents.

[zoinky]

Same shit different market.

[tutkarz]

I think some people are simply shorting too late causing more volatility and losing money in the proces. They choice

[hmmkay]

Nobody's panicking.
It's parasites talking their books and trying to influence others.

[HarmonLi]

A lot of people thought we had achieved the trend-reversal and the price bleeding down at the moment is just very very painful to watch, to be honest. I tend to just force myself to be numb, but it can be a difficult thing to do if you're maybe overly invested. I do get that, actually.

[Bit_Happy]

I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.

I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.

I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.

The last time I was emotional about Bitcoin prices was in late 2011/ early 2012:
Many 'fools' borrowed money to buy BTC in late 2013 during the crazy, fast run up. Most of those (who are going to panic) should have given up a while ago. The correct idea is to be buying now, but so many people assume prices will just keep falling.

[HarmonLi]

I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.

I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.

I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.

Many 'fools' borrowed money to buy BTC in late 2013 during the crazy, fast run up. Most of those (who are going to panic) should have given up a while ago. The correct idea is to be buying now, but so many people assume prices will just keep falling.

I do believe, though, that those exact people will come back to Bitcoin as soon as it approaches a new ATH and goes even above that again. It's incredible and astounding how people tend to forget bad things and just seem to recall the good times!

[Hyena]

The last time I panicked was when bitcoin fell from 12$ to 7$ in a day. And even then I decided not to sell, which was a damn smart thing to do. Weak hands must be shaken out. A lot of people bought into bitcoin because of the last rally and they didn't give a shit about the fundamentals. Those people deserve the heat and the longer it lasts the more will be shaken out.

[bassclef]

The last time I panicked was when bitcoin fell from 12$ to 7$ in a day. And even then I decided not to sell, which was a damn smart thing to do. Weak hands must be shaken out. A lot of people bought into bitcoin because of the last rally and they didn't give a shit about the fundamentals. Those people deserve the heat and the longer it lasts the more will be shaken out.

I remember the drop from $266 to $60, then the drop to $60 again, then the drop from $1200 to $380 then the drop to $275, then to $160. Each one was panic-ridden and trolls were calling for the end of the Bitcoin and practically begging everyone to sell. Of course they're know-nothing puppets or just idiots who are not worth listening to, because every time the market rebounds and proves them wrong.

One thing for sure is that as long as there is profit to be made and the underlying fundamental is not completely fucked (Bitcoin is far from this) the behavior of the market doesn't change. What goes down must come up (and vice versa) every time in every market ever. No, it is not different this time. In fact, I have a sign hanging above my monitor that says NO, IT IS NOT DIFFERENT THIS TIME. It has saved me multiple times from making stupid trades.

[Bit_Happy]

Emotional, are you serious?
Have you ever seen a single person get emotional about Bitcoin?

[ElectricMucus]

In fact, I have a sign hanging above my monitor that says NO, IT IS NOT DIFFERENT THIS TIME. It has saved me multiple times from making stupid trades.

It's the first time price broke below the previous ATH after making a new ATH.

[Bit_Happy]

In fact, I have a sign hanging above my monitor that says NO, IT IS NOT DIFFERENT THIS TIME. It has saved me multiple times from making stupid trades.

It's the first time price broke below the previous ATH after making a new ATH.

For the first time in history, Bitcoin fundamentals are finally strong enough to justify a price of $50, $100, or even higher. The old highs were based on pure greed, and the new ones will finally have some grounding in reality.

[ElectricMucus]

In fact, I have a sign hanging above my monitor that says NO, IT IS NOT DIFFERENT THIS TIME. It has saved me multiple times from making stupid trades.

It's the first time price broke below the previous ATH after making a new ATH.

For the first time in history, Bitcoin fundamentals are finally strong enough to justify a price of $50, $100, or even higher. The old highs were based on pure greed, and the new ones will finally have some grounding in reality.

Fundamentals change, for better or worse. And they aren't really subject to trends as much as speculators would like.

[yayayo]

If there were no emotions, nobody would have bought Bitcoin in the first place. Greed and fear is what makes the world go round.

I agree however, that there is a huge number of traders without any interest in the underlying technology with their thoughts still bound to fiat money. What we need in the Bitcoin economy are closed economic loops. Then the fiat reference will become obsolete.

ya.ya.yo!

[abs350]

You win some you loose some. Easy come easy go. Win $1000 here, loose $1000 there. Thats life my friend!!!

Nothing is truly yours anyway. Think about it

Read some Eckhart Tolle. Live for the moment. Get inspired

[spiderbrain]

Nobody's panicking.
It's parasites talking their books and trying to influence others.

+1

[ssmc2]

http://nakamotoinstitute.org/mempool/dont-panic/