Why I don't panic when prices are falling
The first time I dealt with BTC, the price of one bitcoin was 250$. Over a couple of years it grew and reached 20'000$. Some months laters it was not far from 2'500$. Until recently the prices reached more than 60'000$...
Crypto is a roller coster.
Prices go down and then up and down... There are however some important points that you should consider. When you compare BTC a couple of years ago with how the situation is today, you will see that the volume for the token has spiked. This means that much more people are today involved with crypto than a couple of years ago.
In other words the demand has increased a lot.
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.
This means that the supply for bitcoins is limited.
The law of demand of supply has in such a constelation only one result and it is increasing prices.
This doesn't mean that BTC will go up tomorrow. Maybe not even next month or this year. In the long run however, Bitcoin will be here to stay. That is why I don't care about the market drops. On the contrary, when prices are low, you can get more coins and accumulate them!
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WWW.QOO10.COM"when prices are low, you can get more coins and accumulate them!"
Exactly, it's the best time to buy as it's still low and any increase in it's price in the next moths would be amazing!
When prices are droping, I believe it's a good strategy to buy some more but maybe not all at the same time. Maybe courses drop even more and you can get them even cheaper :-)
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).
Wow. when was that? You shall consider yourself a veteran in crypto space.
Wouldn't you agree?
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
I definitely feel like a dinausauer sometimes lol. It was around 2014 I believe.
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!
hi @happyvoter
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.