Bitcoin to $1,000? What would you do? Part 1
Now, I'm just asking the question, what would you do if Bitcoin hit $1,000, or even less? The purpose of this post is not to offer any suggestion that Bitcoin is going to fall, but to see if you've prepared yourself for this possible outcome.
So why ask this question now? Well, there are a lot of pundits pushing the "ready to moon" scenario, perhaps more often than not out of wishful hopefulness. There are also a few that say Bitcoin is going lower. The reality is that no one knows what is going to happen next. But if the unthinkable happens, what would you do? Are you prepared financially? What about mentally? It never hurts to go through a gut check of how you would respond to a situation, even one that you do not think will come to pass.
So there you are, you've watched and waited and everyone tells you that it is going up. You may have even bought into some "FOMO", just to be safe. And then after months of careful planning, Bitcoin crashes. I mean it slams down so hard, you won't even know what hit you. What do you do now?
Many make a strong case that all cryptos will go the way of Bitcoin, up or down, regardless of a strong use case. And, anything is possible. Have you ferreted out the best blockchains that will at least make a comeback? What are you going to do when everyone around you has given up? You can't even sell your cryptos. What will you do then?
Ok, a bleak picture for sure. But, have you really thought through what you would do next?
It's not going anywhere, with as much attention as it has been getting lately, if it does go to 1k, then that is the best freaking buying opportunity of our lifetimes and I am going to buy as much as I possibly can. I am even cool with it staying in this channel that it is for a few months so I can accumulate here as well.
to add to this, I really think we have hit bottom already, if we are all looking at the 2014 bottom and the repeating market pattern, then you will see that we are sitting on the 200MA just like 2014-2015. I am seeing about a 6 month accumulation period then the rise after that. But hey, I am just a dude on the internet that looks at charts, that is all. If you don't agree, that's cool, that's just like your opinion man, just like this is mine, lol. Be cool everyone and buy BTC!
Hi @guysellars, you made a very intelligent question in your post, because right now BTC value is more near to 1k than to 10k.
In my opinion, if crypto should keep alive, BTC cannot loose so much again, but is true that last year we watched the value frozen to around 6K and suddenly loose its value unprediticably, so now we are in the same stage, value is frozen to around 3,5K and it wait another news to make it rise o fall again.
I believe that BTC is gold of cryptos, with it lower than 1k i do not see a bright future for it, even blockchain is the future....:((
I hope it does! I could buy a couple more Bitcoins!
A lot of people feel the same way @cjturtleman. I'm just hoping that the markets stay liquid so we can buy.
If you now lose faith and sell your cryptocurrencies, then you give in to those who will do anything to make you do it. This isn't the end of cryptocurrencies! Bitcoin Will not fall to $ 1000! Don't even count on it. Cryptocurrencies have gone too far. Despite the media silence, thousands of people are watching the situation all the time, waiting for the best purchase price.
Appreciate your strong conviction @astromaniak. And I think several of your statements are right on, i.e. "...thousands... are watching..."
Let's hope we don't see $1K!
I think that too many people count on such a price, that's why it will not happen.
I am currenty holding bitcoin from 17k mark if it hit 1k i will still hold
Hi @tonyudo57. I know a number of hodlers in the same boat. Hodl on!
If it goes that low to 1k it will be the best opportunity to buy.
However the supply is running out while the demand grows daily. The probability BTC drop to 1k is so low that it will last few second on trade market if it ever happens.
Peace
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Nothing or.. invest and I would wait. I already lost a lot so it can only go up. Will give it to my kids.
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Sounds like you are keeping your options open @wakeupkitty. Passing wealth down to future generations is always a good idea. Thank you again for participating/commenting.
As long as I can I will. What I already invested is "gone" anyway. I do not need it. If there is some more to invest I will give it a try for sure.
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I will buy if its 100
Hi @opixtm. I think many of us think that would be a great price, However, if everyone has the same idea, there may not be a lot of coin available. We'll see.
Bitcoin to $10,000? Yeah I think so. Make sure you backup your private keys.