First of all, who is a Nocoiner?

A nocoiner, according to Urban Dictionary, is someone who has no bitcoin. But not everyone who has no bitcoin is necessarily a nocoiner.

Rather, what makes a nocoiner a nocoiner is not simply the absence of cryptocurrency from his investment portfolio, but his sanctimonious attitude about it.

Urban Dictionary’s definition, which was posted in December – about the time the word entered wide usage in the bitcoin community – goes on to describe nocoiners as:

“….people who missed their opportunity to buy Bitcoin at a low price … and who [are] now bitter at having missed out. The nocoiner takes out his or her bitterness on Bitcoin Hodlers, by constantly claiming that Bitcoin will crash, is a scam, is a bubble, or other types of easily refuted FUD.”

Bitcoin hit its all-time high of $20,000 in mid-December 2017. However, the cryptocurrency market has witnessed a huge correction that has seen it lose over 50% of its value in 2018 so far.

This steep drop has spooked many new bitcoin investors that had only recently entered the market, causing some to sell off their coins to avoid further losses while some exited the market altogether after having concluded that bitcoin is simply too risky for them. 

Steep price drops have also scared off many new potential investors for whom bitcoin’s price swings are simply too much to handle. However, for seasoned bitcoin investors, bitcoin price drops provide excellent opportunities to buy more bitcoin.

Why is a price drop a good buying opportunity?

Bitcoin has had more dirt thrown on it, mostly from the mainstream media and private interests, than a dinosaur’s fossils. However, the virtual currency has stood the test of time and gained a fairly widespread adoption.

Each bitcoin bubble creates hype that puts Bitcoin’s name in the news. The media attention causes more people to become interested, and the price rises until the hype fades.

History has shown that there is a surge in bitcoin trade volume each time the price spikes and this is because new investors and speculators come in to have a share of the profit.

Opportunity Knocks

Seasoned Bitcoin investors see a price drop as an excellent opportunity to buy more. This is in contrast with novice investors who buy high, panic and sell low.

Investors who believe in the long-term appreciation of the value of bitcoin, use price drops to buy more bitcoin. While it is extremely difficult to “time the market”, i.e. buy just after a price drop and just before a price rally, steep price drops allow bitcoin investors to add to their holdings at better price levels than if they were to simply keep buying during a bull market.

Increased Use of Bitcoin for Commerce Causes temporary Dip in Prices

Even as 2018 so far has been terrible for the Bitcoin market, the cryptocurrency has gained a fairly widespread adoption. Today, there are a number of places where you can spend your coins.

However, Bitcoin has, in some ways, become a victim of its success. As more merchants accept bitcoin as payment, they are selling it for fiat cash 95% of the time. 

This has been attributed to the volatility of the asset class. Most of the merchants accepting bitcoin are wary of its price volatility. And in order not to incur losses, they sell the cryptocurrency almost instantly after receiving them. 

The seller’s market is outnumbering the buyer’s market at this point, with the merchants almost exclusively selling bitcoin at the end of the night’s business, if not instantly. Bitcoin is attracting merchants that are in the business of selling bitcoin every day! 

If merchants were taking bitcoin, and then paying employees in bitcoin, the ecosystem and price would strengthen, not weaken. That economic conversion of paying employees in BTC is still in Bitcoin’s future. Right now, that’s a rarity. The eagerness of merchants to accept bitcoin is another sign of its enduring strength and market demand. This is a very good thing, but paying employees in bitcoin would entirely be great.

Halving Production Rate will Double Bitcoin’s Value

Just as Central banks issue traditional currencies at a rate that is supposed to match the growth of the amount of goods that are exchanged in a centralized economy, so does the Bitcoin generation algorithm defines, in advance, how the currency will be created and at what rate.

Bitcoin uses a decreasing-supply algorithm which matches the rate at which commodities like gold are mined. The cryptocurrency will have a limited supply of 21 million BTC, with the production rate scheduled to halve every four years. 

By the year 2021, Bitcoin production is expected to drop from 12.50 BTC every 10 minutes to 6.25 BTC every ten minutes. You don’t have the be a Wall Street economist to know that half the supply of any salable commodity with at least the same demand leads to prices quickly doubling at the very minimum.

The demand and transaction volume of bitcoin has increased steadily over the years and is only expected to grow further. This means that prices should more than double after the halving takes effect on the market. 

Hence, the recent price dips present a good opportunity for nocoiners to get into the game.

Bitcoin is here to stay

Every time the price of Bitcoin experiences a big drop, naysayers will publicly claim the supposed “Bitcoin bubble” is just about to burst. Yet, historically, Bitcoin defies the naysayers and gains further popularity.

A big reason, according to experts, is that many people distrust government currency and want to use bitcoin as a hedge or an alternative payment tool when government currency doesn’t efficiently perform these functions. Millennials are investing in bitcoin at a faster rate than other consumers.

Bitcoin does not rely on a government entity that politicians can manipulate. Instead, trust is placed in the decentralized order of the parties that verify bitcoin transactions. These “miners” maintain the bitcoin blockchain.

If you believe bitcoin will continue to reach new highs in the coming months and years, you are not alone.

Bitcoin prices can only go higher – much higher – according to no fewer than ten expert predictions for 2018.

  1. 1 Pantera Capital: $20,000 By December 2018 (10)


    Dan Morehead, the investment firm’s CEO, told recipients of an April newsletter that he has “rarely had such strong conviction on timing” as he planned a $20,000 Bitcoin price in 2018.


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