Quote from: nara1892 on October 18, 2022, 11:49:23 AM

Quote from: Hyphen(-) on October 18, 2022, 11:15:33 AM

Quote from: EarnOnVictor on July 31, 2022, 07:04:05 AM

What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

I wouldn't say I'll be overjoyed, but I will be overjoyed because the market has lowered the price to the point where many people who missed out on investing in Bitcoin during its early stages can now do so.
Although I know it will be difficult for the Bitcoin price to fall this low because many market makers will not allow it to fall drastically due to their large investment in the market, if it does, I will do everything I can to buy as much as I can because I know it will rise again.

Actually I don't want to speculate about something that I believe is unlikely to happen. But if I really have to speculate, then I'll do what you do. I will carry as much Bitcoin as possible into my wallet instead of turning away from bitcoin. Because it is a golden opportunity that may not be repeated. But again I believe that is unlikely to happen, even if it did, maybe when there is a great recession sweeping across the world.

Truly, this seems unlikely, but it does not stop the fact that it is possible. As we hope it doesn't happen, if it happens, then it might be the right time to plan a renewed investment in BTC. Mind you, we do not need the great recession for BTC to fall significantly, what if the US, UK and Europe decided to turn their backs on the coin, what would happen? This is just an example that we will always hope does not happen.

Quote from: stomachgrowls on October 18, 2022, 11:26:01 PM

Quote from: nullama on October 18, 2022, 11:19:56 PM

Quote from: ethereumhunter on October 18, 2022, 01:12:49 PM

~snip~
If the price drops drastically, I think I could need a few bitcoins since I still have money to buy them. It was a joyous moment for many people who didn't have much money because they could buy more bitcoins at very low prices. But I think it's unlikely that the price of bitcoin will drop drastically unless a lot of investors lose faith in bitcoin and a lot of whales sell their bitcoins, causing the price to drop very quickly. But even if the whales will dump the bitcoins, I don't think the price will drop that drastically because it takes a lot of bitcoins to force the price down to that level.

Price manipulation can be done by big players.

The problem with this is that it's not a long term strategy. Sure, they sold lots of bitcoin and lowered the price, but then lots of people kept buying and the price eventually will go back up, and the big players eventually will run out of Bitcoin to sell.

The key thing is that there's a finite number of Bitcoins out there, and they cannot lower the price indefinitely because there's more and more people joining in that also want to participate in Bitcoin.

A price of $1000, which I don't even think is possible, can only happen in the short term. Long term the price will go up.

To answer the question, I would continue buying more Bitcoin at that price.

As long the demand is intact or something didnt change then whenever bitcoins price plummets then its safe to presume that there would really be lots of strong support below which would catch up.

That is the point, the demand can never be intact in such a situation. Such a significant drop would only create panic, and many that are making month that they would buy at such a low might only panic more, or buy a little.

Quote from: glendall on October 20, 2022, 01:02:26 PM

Quote from: Fivestar4everMVP on September 17, 2022, 10:19:03 PM

If bitcoin should drop to $1000 or below, I think first thing to do is to find out why such a thing happened, because bitcoin, (considering it's current price and all time high price, plus all the high profile investors), have grown past the stage where it can drop to such a ridiculous amount without any form of negative news backing it.

So for me, first, I will have to know what caused the price of bitcoin to drop that low, what ever the reason is; will determine for me whether I should buy more bitcoins or just sit and watch as the whole magic play out.

well it's true there must be a problem if btc reaches 1000$, but I'm sure the price will go up again in a short time because there will be a lot of demand.
and here can be assured that the price of bitcoin is in trouble and manipulation occurs here

You have some good points here, we should first know the cause of the huge fall and determine if the cause is still lingering, not that we will just blindly invest in it. But don't be sure the price would go up in a short time, just let the right speculations guide you.