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RE: Why I don't panic when prices are falling

in Project HOPE4 years ago

Dear @happyvoter

Definetly we shall avoid any panic.
Many investors who took part of their profits (while BTC was growing in its price) were awaiting this correction. I'm one of them. Frankly I love to see this current market crash as I consider it to be very healthy and necessary (assuming we're hoping to break new all time highs sometime in the nearest future).

The first time I dealt with BTC, the price of one bitcoin was 250$.

Wow. when was that? You shall consider yourself a veteran in crypto space.

Crypto is a roller coster.
I think that looking at some stocks (tesla, apple and few others) we could come with similar conclusion. Roller coster. Especially in times of cheap money printed by FED like crazy. So many new investors are joining the market and then they often become victims of influencial and powerful "whales", who can influence markets and create wave of panic. This is simple way to transfer wealth from weak hands to those large holders.

Wouldn't you agree?

When you look at the very nature of bitcoin, you should know that there are only 21 mio bitcoins ever in existance. Probably there will be only 20 mio because a lot of people simply lost their keys.

Nah. I would expect that more bitcoin holders lost their keys. Much more than just mentioned number. (just my personal opinion)

ps. thanks for participating in my recent quiz :)
Yours, Piotr

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Wow. when was that? You shall consider yourself a veteran in crypto space.

I definitely feel like a dinausauer sometimes lol. It was around 2014 I believe.

Wouldn't you agree?

I totally agree. There was so much news and fomo about crypto lately that a lot of people joined without knowing what would be waiting for them. These people were probably the first ones to panic sell...

1 million lost btc is just a raw estimate and I wouldn't be surprised if there were more :-).

Thanks a lot for the great comment!

 4 years ago 

hi @happyvoter

1 million lost btc is just a raw estimate and I wouldn't be surprised if there were more :-).

Ive heard few times that there is few million BTC which didn't "move" for many years already. My assumption is that large part of it must belong to people, who have lost their keys / lost their lives etc.

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