Bitcoin is Dead - Twitter Says
The last 10 days were turbulent in the cryptocurrency world... Bitcoin price has fallen from 12k to 10k-ish, and the majority of other cryptocurrencies have followed that trend... And, as always, a lot of "crypto experts" have popped up with calling Bitcoin death soon... I have lost count how many times I have heard that Bitcoin has died, but it is a very big number... Anyways, just to clarify at the beginning, Bitcoin is far away from being dead, so no worries about that...
But, let's talk about people who are calling it dead... The people that you can find all around the web, social media website, Hive< LBRY, that are calling themselves "crypto-experts"... If you are new in the crypto world, you should learn to distinct people who know what they are talking about, and people who have no clue about it, or just want to scam you and take your money...
Also, we have to clarify one thing more... Crypto expert, or fake expert, it doesn't matter... Nobody knows the future price of any cryptocurrency tomorrow, or on any date in the future... It's a free market, and it can go up, it can go up, it can remain the same for some time... Maybe there can be speculation on some assets as in traditional markets, but that's another topic...
The main problem in the crypto world is that a lot of people know the history of Bitcoin, how it was just a few pennies a decade ago, and now it is over $10K... And knowing that, people are waiting for "new BItcoin" to appear, and they don't want to miss that out... THey FOMO (Fear Of Missing Out) into all new projects (good or bad, usually bad and overpriced), just because of thinking that RIGHT that coin can be a future Bitcoin...
That is just one way how you can lose money in the crypto world... Check out the video for more advice on how to avoid newbie mistakes...
Thank you for your valuable time,
~ph~
Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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▶️ 3Speak
https://twitter.com/ph1103/status/1304169524300779520
I think Bitcoin will return better than it was
Well, it didn't go away, so no problems! Thanks for watching the video! Appreciate it!
YES!! Great reminders you gave in this video & yes, you're right - $BTC is definitely not dead!
As a regular stock market trader in the past, in our trading room, we always had a phrase "Plan your trade & trade your plan". While the stock exchange is a different atmosphere from the cryptocurrency world, we still stressed the same principles. When a trader would blindly follow "advice" from another trader (whom supposedly knew what was best), it usually backfired. He/she would blow up their account, become disillusioned & lose more money than they could afford. I have seen it & it is not pretty.
I always cringe when I see people do this because everyone is different. We all have to find what works for us. One strategy for one person might not necessarily work for another. I am glad I just basically invest and accumulate most of my crypto. I have confidence BTC will thrive once again. It's just ebb and flow.
Thanks for an awesome video Zoltan. It is good people watch this so they don't make a mistake based on FOMO mentality. 🔥
I have no doubts about IF, it's just the matter of WHEN... So, patience... Another very important characteristic that we should train... a lot... :)
I suppose that term FOMO existed before crypto, but it's definitely marked by it... As you mentioned stock markets, it is supposedly reserved for "trained traders", and FOMO should be less present there... But crypto... Everyone trades crypto, a lot of emotions and noob "players" take FOMO to the different level... lol... :)
Very valuable information, quite an experience, you're a genius having all the flavors :) Gemini intellect.
Ha ha - Gemini intellect. I like that. Well, I admit @ph1102 knows more than I do most likely but we definitely picked up similar experiences. A lot of it comes down to common sense as well. ;)
@ph1102 he is the real awesome indeed! Common Sense plays well but it's not really common 😉👍🏼
Ha ha ha spot on. Common sense is rare and yes Zoltan is awesome!
WTH is happening here?! Don't spoil me with your praises... :P I like more when someone kicks my butt... lol
HA HA HA oh that will still happen, Twin! Every. Single. Day. 🤣😂
The crypto world can be quite overwhelming for somebody who starts. There are so many self proclaimed specialists not to listen to, so many scams that you have to avoid and then there is this belief that you can make a fortune in no time to shake off.
I think that for new people in this crypto world, they should learn that crypto is not only about investing in the good coin. It's as much about learning how to earn with crypto...
Exactly... Crypto isn't a quick earn scheme, it's rather a long term investment with a lot of possibility to grow... As there are a lot of different ways to earn it, people should focus on the way that most suits to them...
Blogging, gaming, trading, leasing, staking, curating...
A lot of patience required! It has been two long years, thank God it moved a bit, let's hope the end of the year could bring some wonderful surprises.
Hehehe... Will see... If not, we always have the next year :)
It has to come... that is for sure :)
Great post Zoltan seeing a lot of people getting scammed on Facebook through rogue traders at the moment, as far as bitcoin goes all markets fluctuate anyways dunno why people think crypto would be any different have an awesome day bro
lol.. You are SO RIGHT about this... It looks that people think that in crypto the only way is UP :) Which it is in most cases... lol... But, it's not straight up... :)
Thanks for the comment! Enjoy your weekend!
Bitcoin will also die in 2021. lol...
It is a blessing that we enjoy freedom with cryptos. No central authority or government is in control. You are in control. And this is just a beginning. Thank you @ph1102 for sharing this.
Well, they will create government-controlled cryptocurrencies... I have no doubt about that... But, I hope that we will have our alternatives... ;)