Post
Topic
Board Bitcoin Discussion
Re: 4 Years ago people laughed at me bcz of THIS
by
Yatsan
on 16/03/2024, 21:49:48 UTC

If people knew in March 2020 that the price of Bitcoin would reach $69,000 within a few months, would they have sold it?




Of course they won't. But I still don't agree that the occurence and spread of corona virus has something to do with Bitcoin simply because its market price declined that time, it won't be enough as an explanation. As far as I remember,the market price of cryptos on the early spread of virus was still high and it was almost a year after before the crash took place, feel free to check. People just tend to connect things from time to time.

The market price of Bitcoin was even lower than $10k years back then, did all people invest that time? Same idea with every market price dump. We all know that its market price will again increase after declines but it is a normal response to take profit or cut loss if necessary, depending on the market itself. It is has the same idea; buying at $25k market price and $40k market price, profit will still be earned. At any market price, people will hesitate to invest regrdless of knowing something's potential simply because they are not ready to embrace the risk and that's just fine than to push themselves and be anxious the whole time. Everyone is welcome to invest but for sure, not everyone could properly take risks from this industry.