Why did bitcoin drop reddit

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But I haven't touched it, just gonna let it ride.. What I told my sister when she bought at the ATH of like 28k AUD in or whenever was that every single person that has bought bitcoin and held for 2 years has made money and in most cases a large sum.

For her it took a bit more than 2 years I think but her initial investment is now more than doubled. I still believe this is the case. If you hold there is still room to make money on bitcoin even if you bought at the 76k aud or whatever it got to.

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I think Bitcoin has potential as an inflation hedge, but imo Tether needs to go. Too many red flags. So as far as the Mongolian miners, wouldn't the lack of mining during the interruption of them having to shut down and relocate cause the price to go up? Because there will be slower supply. I realize we are not there yet More people mining doesn't mean there are more bitcoins created. It just means each miner gets a smaller share of the bitcoins that get created every 10 minutes.

If you have a larger share of the hashrate, you get a larger share of those bitcoins. This is simplified, because only 1 miner actually mines the bitcoin, which is why they group together in huge pools. But that's how it works on average. Even if only 1 person was mining on Earth, the same number of bitcoins would still be created every 10 minutes.

That 1 person would just get all of them. God doesent like when there is too much hype surrounding bitcoin. The best thing you can do is build and buy for your own needs and maybe those around you.

The drop is imminent and here‘s why : CryptoCurrency

Maybe donate to someone and ask if they want a bitcoin tip. But the blatant speculation that is going on does not seem appropriate. Your mood may be different, but your place in life certainly wont. This is why its important to build stuff because thats how you improve your standing in life, materially and socially. At least thats how its supposed to be. God bless.

You are all saying the same thing. Thus, it will not happen. Your euphoria is your downfall and will keep you from "getting rich". I'm sure that's how you'll feel a bit later on when everyone is sitting in their basement flooded by their own tears. Well, don't discount the chance that your short ends up in a big loss. Everybody thinks he's the next Michael Burry, but nobody has a crystal ball. In other terms: I have a long position because I think the market is heading to a long bull, yet I know I could just be wrong. You gonna keep saying this stuff as Bitcoin breaks through k?

Or are you finally gonna accept that you're not a psychic, you know jack shit about price movements and you never will. And no, your dumb "This bull run, it'll be over some day" doesn't work. Everyone knows stuff will go up and down. My goal posts haven't moved at all, buddy.

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You sound a bit mad, though. Hope your emotions don't run that wild in your trading, if you're doing any!

Not trading, investing. Don't care about your price predictions, only care about the fact that you think so highly of yourself for being able to predict prices nobody can predict. Good for you. Congratulations on not caring, but do you think I care?

Welcome to Reddit,

Lemme just barge in to random conversations just to say "I don't care! Looks silly tbh. Where was I wrong? I said the break of k will be temporary. There are way too many sheep screaming "BTC to k! Quite the opposite as I can think further ahead than a temporary dip.

Bitcoin tanks after Elon Musk hints prices are excessive; Janet Yellen sounds warning

But we'll see who's right soon enough ;. You can go around choking on your gums with the same 4 words on all these posts but you have the same knowledge of the future as us. I think you get off on being the bitcoin contrarian in the bitcoin sub. Let's hear something meaningful for criticism. Buddy, I've been at this for 3. Don't tell me I don't understand euphoria :D I've seen it go from to 3k, down to 1.

You're speaking out of place.

I wish this was a place full of people who understand how markets work instead of permabulls who think it will just keep going straight to the moon. Guess I'm in the wrong subreddit. You aren't in the wrong place. I'm asking for actual criticisms and explanations instead of your pedigree and ego flexing on me for being a stupid kiddie. I would read paragraphs of your good-hearted attempts to actually make me see your perspective and what your experience has provided you.

I want to read legit bitcoin criticisms. I'm not a bitcoin criticizer. I'm making an observation at how ridiculously euphoric the entire market is right now.

It's honestly obnoxious, but I welcome it, as it provides a golden opportunity for a profitable position in the market. It just takes a lot of time and pain experience to start gaining understanding at how the market behaves. When the price has been going up a long time and everyone is thinking it will keep going up, it's going to reach a point and reverse direction. And the opposite is true.

I've been in this for a few years now so I've experienced both bull and bear markets multiple times. You can experience this every day as well in the very short term m charts. Definitely the difference between investors and good traders. Sort of like the comparison you made, but I can't speak on how closely those communities actually match those aforementioned types. Why did the price move so drastically from November to December and why is no one talking about that anymore? I am buying the dips on a daily basis.

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