Quote from: brutalboy on September 14, 2018, 06:33:48 AM

Quote from: swaggerkeme on September 09, 2018, 08:09:56 PM

Why are many disturbed about the drop in the price of bitcoin

Why they are disturbed about the drop in the price of bitcoin is pretty obvious: after last year's moon, we had a massive influx of newbies who read newspapers, watch TV, hang out on the social media and really want to become rich by buying some coins and doing nothing but waiting a couple of weeks and then selling their coins, getting burlap sacks of fresh and clean $100 packs and walking away. But after the price dropped some of them panicked and sold at a loss, but others decided to hodl because they read the dip is sort-term and soon the price would rocket. Alas and alack, nothing happened, i.e. the price continued to go down and many of them panicked again. I know some of those guys personally so I know what I'm talking about. The only hope for them to stop panicking is to see the price go up. The problem is they hadn't been told about the possible dip and that the dip could last for a couple of years, not weeks...

Yes, I believe that's the problem with the newbies. They lack patience because they lack knowledge, so I believe they should get educated about blockchain and bitcoin before panicking. Then they may change their minds and start hodling instead of panicking Cool