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Bad news we are in a bear market; time to buy and ignore the FuD.

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Avatar for francis105d1
Written by   287
6 days ago

I like to read news from news.bticoin.com, and I find them very trustworthy, so it is my preferred method of getting the crypto news and some other news that goes around cryptocurrencies as a whole. By reading each piece of information, a pattern will emerge in which it seems that authors are trying to paint a picture of what Bitcoin is not, and others are trying to ban it outright when the price is going down. It feels like someone is trying to put FuD and fill an unknown agenda.

Look at the following article titles and my opinion to see if we could get a better picture of what is going on in the crypto world and if we can prepare for whatever plan the elites may have for us, the holders of Bitcoin.

Dutch Official Predicts Crypto Market Crash, Says 'the Netherlands Must Ban Bitcoin Now.' So I guess politicians think you can ban Bitcoin when the price decreases so the people won't say anything and will thank them for refusing the asset. And when I say Bitcoin, I refer to Bitcoin BCH. As you may already know, that is the only Bitcoin that politicians, banks, and the whole government fear. 

I don't understand that people who hold Bitcoin and other cryptocurrencies when the market is down is when we are the most excited because we get to collect more satoshis while our worthless fiat can give us more.

https://news.bitcoin.com/dutch-official-predicts-crypto-market-crash-netherlands-must-ban-bitcoin/

JPMorgan Warns of Incoming bear market

You must always buy your assets at the top and sell them at the lowest price possible. Banks think that people fear the bear market, and they believe that they can make people stop buying Bitcoin and any other crypto asset by pointing out the volatility that cryptos have. If nothing more, that makes cryptocurrencies a better investment because you can trade your money in and out in a few months, and if you have the necessary knowledge, you can become a successful trader. Not only that, but volatility also helps the long-term holder understand the cycles because he can get out at the top and buy back in at the bottom. And since we all know that cryptos are a roller coaster, we see that we must always have some fiat around to buy the next dip.

https://news.bitcoin.com/jpmorgan-bitcoin-bear-market-citing-unusual-development-futures/

Bitcoin Becomes Legal Tender in El Salvador.

Let us clarify that El Salvador has the right to do whatever their people see fit, so they have the right to use Bitcoin or any other asset for legal tender. The IMF, together, will all banks have an actual problem if countries start to receive the real Bitcoin as payments because that will mean that their printed bills will become worthless at some point. And I think El Salvador may also see some retaliation from central banks in the future, including the US government. Not the Bitcoin law is perfect, or it will use the Bitcoin system at all; if nothing more, it is just the legalization of custodial services as legal tender.

https://news.bitcoin.com/christine-lagarde-ecb-crypto-policy-bitcoin-legal-tender-el-salvador/

Suppose every country adopts the same law El Salvador created to make Bitcoin legal tender. In that case, it will only mean that custodial services will be the norm, and everyone will use them. To me, the Bitcoin law in El Salvador is just a law put together without much thinking or with loopholes that the government can use later to allow themselves to print Bitcoin without the population realizing it. Poor people will have to use a centralized application called Strike or any other custodian service like Wallet of Satoshi. And since those applications use the private ledger to keep track of who owns what and how much to who, eventually, once most Salvadorians only use a few custodians, those same custodians could print Bitcoin either because they wish or because they are colluding with the government to print Bitcoin.

My opinions.

As you can see, many players are trying to play the Bitcoin game and put it in their favor. Banks and some central governments are trying to ban the usage of Bitcoin and any other cryptocurrency. They are trying to capitalize on the people's sentiments while the market is down. Others call for outright bans of the whole crypto market, not just Bitcoin. And other actors are trying to circumvent and remove what makes Bitcoin the asset it is and are already putting insidious laws to make sure they can print or control Bitcoin supply with their rules and schemes.

You lose all Bitcoin's advantages when using third parties, including exchanges and custodian services. The fact that people won't be able to verify the supply of Bitcoin means that the Bitcoin project has failed and is about to be replaced by that which still works and is Bitcoin. Without low transaction fees, you will push people to sue more and more custodian services which will be the same central banks that manipulate the market today.

The only way to have an actual Bitcoin is that its users can verify the supply of the chain by making the transaction cheap for everyone to afford the fee and have an honest chain with a limited supply. I know that the market will realize this soon. It will adjust the price to reflect this fact. I think Bitcoin Cash is the real Bitcoin because it makes the white paper idea a reality for all of us to take the opportunity and invest in our future.

Conclusion.

It is accessible to FuD about all cryptos when the price is going down and people are freaking out, but right when bear markets strike, that is when great wealth exchanges hands from those not willing to wait to those willing to wait. When Bitcoin Cash was at $1500, you could only dream of today's prices, so forget all the bad news and buy some BCH because today's prices will set up the new lows of tomorrow once prices pick up again. Not financial advice. Whales are trying to manipulate you with all the tools in the book to get you to sell your assets. If prices decline at least 50%, it will become another excellent opportunity to buy the crypto you always wanted at a more significant discount.

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Written by   287
6 days ago
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Comments

Took me time to realise it, but I did. We are truly in a bear market. Looking at it closely, we can see we have been in it since last year

$ 0.01
5 days ago

I just hope this turn out the way you said it, you made some really good point, but no one know when the market will be bullish, many says it gonna be next year or so, which is making it hard for people to make the decision of either buying or hodling

$ 0.01
5 days ago

It depends on people must have discipline in situations like this. You must be willing to wait to preserve capital.

$ 0.00
5 days ago

Yeah, you're right too... But the wait can be very hard

$ 0.01
5 days ago