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I think we're closing in on a big loss in cryptocurrency soon


Carson
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I feel that cryptocurrency is slowly going to result in a big loss soon. Maybe it'll be bitcoin going down super low in price, or some of the other popular cryptocurrencies going down. If there is a big event like this, how do you think people will react? Do you think people will just be patient and hope the worth goes up again? 

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Bitcoin seems like its doing alright. Total return over the years is still great. I guess it all depends what lens you are viewing it through. There are obstacles being thrown at cryptocurrency all over the world. The point of things like Bitcoin were to not have a centralized power in control which is why the centralized powers are afraid. I would say as distrust of the government grows it will serve cryptocurrency well. 

I wonder how low it has to go before I am tempted to buy again. 

What makes you think the crypto market is going to tumble and what do you define as a tumble? 

The long term graph looks decent 

image.png.258ad3323c97c46eb90aef5ee626b213.png

Source: https://99bitcoins.com/bitcoin/historical-price/

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A lot of people have been talking about this. I think this is down to government control and interference. They are cracking down in a lot of countries which is making things get rocky. I know a few people who pulled out of crypto completely already. 

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There is no way to predict it. Most people never saw one Bitcoin hitting 60k, especially not back when it was valued at only a few hundred bucks. Shame of it all is that my brother had the chance to actually win 10 bitcoin in a tournament he dropped out of years ago. He likely would have won them as they were handing them out to 4th through 6th place. 

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On 8/7/2021 at 4:54 AM, Carson said:

I feel that cryptocurrency is slowly going to result in a big loss soon. Maybe it'll be bitcoin going down super low in price, or some of the other popular cryptocurrencies going down. If there is a big event like this, how do you think people will react? Do you think people will just be patient and hope the worth goes up again? 

Only the cowards will want out. Even the fiat currency has its ups and downs. Bitcoin is likely to remain stable in the comging few days. This is because the economy si easing. The effects of the pandemic are slowly reducing. As the vaccine coverage increases, the economy wil be back normal and cryptocurrency will just pick its rightful position. 

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