It's understandable that some people will be panicking about the price action of the last couple of days, either because you're new and haven't experienced a crash before, or because you've been around long enough to remember the last time we went from a euphoric bullrun to a multi-year bear market and are concerned that it's happening again right now. For the record: I'm not a fan of crashes either!I don't know what's going to happen next. My opinion is that this crash was well overdue and we'll recover and make new highs over the next few months. I could well be wrong, wouldn't be the first time!A few months back when Bitcoin hit $17k (we were so jubilant- $17k!!!!) I shared these threads and comments as a reminder to take comments in here with a pinch of salt, and I thought that with the current sentiment being what it is, some people might find that taking a look through the daily threads from March 12 and March 13th last year helpful to put things into perspective a bit, and to try not to take all the doom and gloom too seriously (this applies to bullish comments too, because the truth is nobody knows where this is going).On March 12 last year, the Bitcoin prices plunged 40% from $8000 to $4,800. At the time it felt like the end of the world to many people. (And look how far we've come since then!) Some of the comments are pure gold:I've been in crypto 4 years and have never lost so much money in a single day before. Funnily enough, I feel nothing.HOLY FUCKING SHIT! 5.8K?!! REALLY??!Down 33% last 24 hours. Down 59% last week. Big oof.This is the end for Bitcoin in my opinion.Just sell already. Cryptocurrency is the most obvious ponzi scheme in the world. Literally, bitconnect had a huge marketcap in the past. It's okay to admit you fell for an obvious ponzi scam.Unpopular opinion: Bitcoin is still a digital gold and a hedge against the recession. The current decline is the future "low base effect" being formed. When a rise of Bitcoin in a sea of red will hit the news at the right time, stocks money and money printed to soften the recession will flow into it leading to The Moon.Been in crypto since q1 2013 and this is the worst single day crash i have seenMight buy some BTC at $100Huh. What the hell? From 8000 to 4700 in 28 hours?At this rate you'll be able to buy 50$ btc in a weekWow eth hit 90 already. Going to get pretty bad. We may see 50 dollar ethCrypto is over. All shares are collapsing and soon fiat will hyper inflate. This is the end.the real joke here is that we thought this would reach ATH this yearI can't believe some of you are buying back in already. That was just the start of the new bear market. The Fed pumped 1.5 TRILLION dollars into the stock market yesterday and it barely did a thing. We are going DOWN big time from here as soon as another bad enough Corona headline hits.I will buy when BTC hits 1000$.(in a few days)Good to see that people are realising that bitcoin is actually worthless and has no valuecan someone please fucking explain to me why anyone should keep holding bitcoin ? it has proven to be an utter failure at the one thing it was thought to be useful for.... sToRE oF vAluE. myth debunked. it is an utterly useless piece of trash. the only thing that would make sense is for this shit to go down to zero and fucking spare us all.
Submitted February 23, 2021 at 08:00PM
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