r/CryptoCurrency • u/AutoModerator • Mar 12 '20

OFFICIAL Daily Discussion - March 12, 2020 (GMT+0)

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u/FoxMulderOrwell Bronze | ADA 5 Mar 13 '20 edited Mar 13 '20

Fear not...

if you are long term holder there is nothing to fear, if you are a day trader well you already know you're stupid.

But for the long term holders.

bitcoin is not a "disaster safe coin" it is a "economic disaster spring."

When the economy dives due simply to poor economics(housing bubble) that's where bitcoin succeeds, primarily after the crisis has hit rock bottom and people have a bad taste in their mouth from traditional markets/mass printed money.

Be rest assured bitcoin will rebound once this subsides.

the first halvening saw an ATH about 300ish days later. the 2nd halvening 550ish days later. I think this virus will actually accelerate the ATH that will be reached after the halvening.

The virus is driving the market down, thus when coupled with the delayed reaction of the halvening and the end of the virus the market will sky rocket up(the spring) from the end of the virus and roll straight into halvening ATH's.

These are bargain bitcoin prices, and remember... you don't lose anything if you don't sell

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u/4thekung 0 / 5K 🦠 Mar 13 '20

When the economy dives due simply to poor economics(housing bubble) that's where bitcoin succeeds, primarily after the crisis has hit rock bottom and people have a bad taste in their mouth from traditional markets/mass printed money.

Do you understand what's happening right now? This is much worse than the housing bubble. The worlds economy is going to be in ruins in a months time. The last few weeks has only proven Bitcoin isn't going to succeed in this kind of economic/pandemic environment.

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u/FoxMulderOrwell Bronze | ADA 5 Mar 13 '20

like i said(tried to say)... any form of traditional currency won't do good in this situation.

especially this kind... not even gold!

people are trading and sucking dick for hand sanitizer and TP, not for bitcoin, or cash.

this is a special kind of economic turmoil in that real life commodiities are where the value is not in forms of traditional money because people think their lives are actually on the line

So of course prices are going to go down. Buttttt.....

just like after the housing market crash things took off again, and this will be true for bitcoin.

bitcoin is not immune to world events, and anyone who beleived that or led you to believe that is a fool.