Post
Topic
Board Bitcoin Discussion
Re: The fall from 65k to $30k was the best thing to ever happen to Bitcoin
by
Welsh
on 04/06/2021, 10:06:55 UTC
When bitcoin drops in price, long term holders get to scoop up more bitcoin at cheaper prices, whereas people who are planning on selling(for whatever reason) loses an amount of potential profit.
It might sound greedy, but I actually want the Bitcoin price to fall in the short term, and stay there for a while. It allows people like you, and me who might believe in the currency more in the long term, to actually maximize our holdings. So, I actually warmly welcome these drops any time they happen, and I imagine certain types of traders also do too, as it means they can buy in bulk, and profit later down the line.

Obviously, there are people like you say, that get hurt by the drops, but that is usually because they make the choice to sell at that point. They could, potentially wait until Bitcoin starts to rise again (assuming it will of course).