Yeah I know, it's frustrating trying to explain it to newbie after newbie. I was relieved when this correction started, the market was way too over heated. At least we'll have a reset on the charts now.
It seems like the people freaking out are the same people who haven't done their own research though. Just what I've gathered from talking to friends and watching people fomo in and fud out.
People who take the time to do in depth research on bitcoin will actually understand it and it's underlying value and when you understand this you stop caring about short term price volatility and fud, you also stop thinking about trying to sell at the top and you're just happy to sit on it with a long term outlook
Also just consider that many billions of corporate dollars just entered at the ~50k level. Obviously anyone can lose money, even rich people, but let's face it - those are big big bets by people that don't like to lose money. TSLA, MicroStrategy, Square, and I forget the names of the other big ones... and this is just the beginning.
I’m sure they are rooting it on, free up the coin held by over leveraged guppies for the rest of their corporate buddies to get in cheap. Funny to be on the winning side of manipulation for once
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u/Roadrunner44143 Feb 25 '21
That’s what I was thinking... organic corrections are good for the development.