Post
Topic
Board Bitcoin Discussion
Re: Mt. Gox Repayment amidst Bitcoin Decline
by
LogitechMouse
on 10/07/2024, 05:37:25 UTC
~
These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

I don't know any better reason than you said. You've said it already. Mt Gox repaying those who lost their money a decade ago and Germany selling the Bitcoins they seized caused uncertainty and fear towards the investors hence, it created panic to them that's why they're panic selling thus, helping in putting the price of Bitcoin going down.

Fear really is a big problem with these investors because they always think that if there's an institution/government or whatever it is that's selling huge chunks of Bitcoin, they believe that it will push the price of Bitcoin that hard. These 2 events caused fear towards the investors that's why we are seeing the price of Bitcoin going down (even though we saw a bit of a recovery already). Anyway, if you're a smart investor, you will see that this kind of events are a perfect opportunity for us to buy Bitcoin at a lower price. I believe that we are all smart investors here that's why we took the opportunity to accumulate more Bitcoins, isn't it?

As for what's happening, I don't care TBH. I'm focused on what I'm doing which is Dollar-Cost Average.