Re: If bitcoin is made for times like these why is everyone selling at a time like..
⭐ Merited by cafetools (2)
People are selling and its their choice. Some of them dont even have patience, while some are selling because they are in need of money. You shouldnt let the decision that others have made to influence your own decision youre about to make , they might end up misleading you into doing whats wrong. And I bet that some of them who sold their coins when the market dropped to below $4,000 will be regretting what they did.
They would wish that they never got to sell their coins and just left it till now. The market still bounced back to the higher price despite everything that is happening. This is not where it ends, there is still going to be more. The halving is already and we dont know what its got in store for us.
They would wish that they never got to sell their coins and just left it till now. The market still bounced back to the higher price despite everything that is happening. This is not where it ends, there is still going to be more. The halving is already and we dont know what its got in store for us.
It's normal for prices to go all the way down the drain after a pandemic takes place in the mainstream world. This is largely attributed to fear more than anything else. It's the first time Bitcoin experiences a worldwide crisis, so we can't say for certainty that it has "failed" as a safe-haven asset. Surprisingly, Bitcoin bounced from $3k to $7.5K in just a month after the market depression. Stocks are still lower in price than they were before the COVID-19 pandemic, so this shows Bitcoin's resiliency within the mainstream world.
People will continue to sell crypto in exchange for cash as they need something that's widely accepted worldwide. The number of merchants, and businesses accepting Fiat are a lot more than those accepting Bitcoin as payment method. I know that the volatility issue is there, but anyone can simply use stablecoins to have the "best of both worlds". Bitcoin needs more time to mature in order to be recognized as a serious safe-haven asset in times of need. Weak hands will continue to sell Bitcoin if prices go down the drain. But the smart money will always buy and "hodl" Bitcoin no matter what. The decision lies on the person himself. We cannot force everyone to buy and "hodl" Bitcoin as people have the right to choose one currency from another. With the halving just a few weeks away, it's likely that Bitcoin prices will rise further across the market in the long term. Just my thoughts
