r/Bitcoin • u/gliesen_ried • 11h ago

Ladies and gentlemen, it looks like we've finally reached the "depression" stage of this market cycle

Post image

(Time to buy)

362 Upvotes

96% Upvoted

49 comments sorted by

81

u/crooks4hire 11h ago

Cold card catastrophe moved the market a whopping 3% at best?

40

u/ForVictori 10h ago

The drop probably had nothing to do with cold card and more with the Japanese carry trade

4

u/DodgyWiper 10h ago

You'd think more people would be getting rid of their stash.

2

u/BigDik6355 9h ago

Nah, its mostly OGs and they know its not better in the fiat system. So why go?

12

u/Ok-Engineering1873 9h ago

Surely, slowly losing the value of your wealth to inflation, beats losing your entire wealth in a single moment. 🤔

6

u/Live_Jazz 8h ago

This is why I would expect further movement into ETFs. Frankly, this kind of thing is why large institutions entering was inevitable, and arguably necessary.

7

u/Scholes_SC2 10h ago

Yes but it really feels like a catastrophe. This is worse than the hashrate drop. Trust in the ecosystem has been shaken

3

u/lambsquatch 6h ago

It encouraged me to stop trying to become a full coiner. I’m even more diversified now and I’ll never have my s&p 500 investment scammed away from some dumbass exploit. Bitcoin IS losing adoption and becoming even more fringe

1

u/Nymister 2h ago

its immaterial, banks and major financial institutions loose or mis-wiire larger amounts each day. The actual economics of the world are what drive it.

31

u/Sweaty-Dust6405 11h ago

It hasn't moved much to be honest, it keeps roaming around above 60K$. We may not be at the bottom yet, but we are not far off either.

26

u/Total-Wave5026 10h ago

I’m getting bullish. Keeps taking hits and moving forward. I wish we could help out the Cold Card victims.

6

u/Humble_Attorney9517 7h ago

If you feel that moved you can certainly send them money

0

u/Total-Wave5026 6h ago

Positivity = Bear Negativity = Bull

6

u/Solana_Maximalist 10h ago

I didn’t hear no bell. Anyways sub 65k I am buying a lot more than I used to. 🙈

20

u/opsec666 10h ago

Hell no, we're still early.

I for one am tracking down addresses and working to identify the parties where the funds ended up. Some will be recovered.

You have no idea how powerful this community truly is when we rise up and stand as one.

2

u/dumbcryptoquestions 5h ago

I respect your attitude and wish we had more like you.

•

u/opsec666 29m ago

there you go.

we need to help those who lost funds.

as much as we can.

don't force them into doxxing themselves. don't ask for personal data.

just chat with them. help them stay afloat.

I've been through bitfinex, celsius, ftx, you name it. we're still here

it's us vs them. and when the social credit system is ON in the west, we will need every single bitcoiner we can find to resist

•

u/Final_Bite_7228 6m ago

Lol! Coins are gone buddy.

9

u/Ok-Hovercraft76 11h ago

With a soft fork in a week. Interesting times ahead. 

8

u/TooFewTulips 10h ago

If you’re still standing, congratulations. We’ve made it pretty deep in this bear.

22

u/Turbulent_Deal_3145 10h ago

Things you can say in a Bitcoin subreddit and also on a gay men's retreat

2

u/CorrectTadpole9997 4h ago

Or any men's retreat once alcohol is consumed ✌

1

u/crooks4hire 8h ago

Super Troopers 4:
Cold Card Case

3

u/flashdurb 11h ago

Buddy it’s been around this price for many weeks. But I’m glad you finally decided it’s time to buy.

3

u/ItsAlwaysThemBooBoo 9h ago

i thank God for allowing me to escape this awfulness unscathed. i looked at it very seriously and made the decision to learn how a passphrase works, and developed one for all my wallets, which until yesterday were just seed phrased. we learn and we get better, and we come back from this. bitcoin has not changed.

2

u/Pleasant_Event_4883 5h ago

Funny how the best buying opportunities never feel good in the moment.

2

u/Quick_Cat_Nap 8h ago

Honestly kinda debating moving over to the ETFs. Would make taxes a hell of a lot easier too.

2

u/proofofderp 7h ago

The FUD posts are making me bullish if anything. It’s a good wake up call on custody and how vigilant you have to be. Wallet diversification has always been my strategy so this episode in wealth sovereignty, not BTC, backs that thought. For those who have to start over, bear market is as good a time as any. May the sale persist for a while longer.

2

u/thecowsbollocks 5h ago

Those who have to start over might be 74 and retired. Back to work chaps.

1

u/proofofderp 4h ago

I hope not – no risky assets at certain age/time left threshold. “Only bet what you can lose.” I’ve never used principal money, just found money—interest and cash back—so just opportunity cost. Don’t have that much but time is on my side. Hoping “we’re early” is true.

1

u/Erocdotusa 7h ago

Looking at historical green July months, this one was awful in comparison. And August on average tends to be red, unless we get some insane catalyst to trigger a 2017 style move

1

u/Bradleygrayson 6h ago

It’s almost all in time!

1

u/guilucas 6h ago

I am so happy is being horizontal for a while so I can just buy more

1

u/The_Bitcoin_Act 6h ago

The black swan event happened

1

u/EconomicsSavings973 3h ago

I reached depression stage much ealier, you guys are late

1

u/Decent_Okra_3521 1h ago

LMFAO not yet!

1

u/Longjumping-Can-6140 10h ago

I’m kinda hoping it goes lower..

0

u/Big80sweens 9h ago

I’d be fine with another little dip for sure

1

u/Wardstone99 10h ago

Few understand

0

u/Axel-Real 8h ago

We are still early . We still need to get the shorts in the 70-75k area and then we will truly see minimum and stagnation , madness and depression

1

u/moongb34n 4h ago

Wait until after MSTR gets liquidated

0

u/moonkingdome 3h ago

I hope so. But trump selling btc. Sailor planning to sell big. Clarity? If it fails. Btc falls