Bitcoin Bloody Year 2022 coming to End

Kaliandra

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Quote from: nullama on January 18, 2023, 05:02:30 PM

Quote from: panganib999 on January 18, 2023, 03:02:51 PM

I think regardless of whether the year was bloody for bitcoin (Which it is), bitcoin is still deemed to recover due to its cyclical nature for profit. There's a plethora of reasons as to why this is the case but all of it is really pegged on the fact that bitcoin's total circulating supply is slashed midway (we call it the halving) every 4 years or something, which pumps the value of the coin drastically by means of scarcity. The next halving wouldn't happen til 2024 though, so as of now I am not really confident that bitcoin will rally upwards this year, unless something monumental were to happen.

In 2024 there will be the halving as you mentioned, but also there's another event that will happen in 2025 and is not really being discussed too much.

The BIS (Central Bank of Central Banks basically), will allow central banks all around the world from 2025 to have up to 2% of their reserves in Bitcoin. Source: https://bitcoinmagazine.com/legal/bis-finalizes-bitcoin-bank-limits

Now, that's an interesting thing. Because there will be a massive increase in demand, paired with the reduction of new coins being mined.

yes, now it's August 2023 and I personally can't wait for the btc halving in 2024, and hopefully during the next BUL RUN the btc price will be higher than in 2021. indeed there is always a lot of drama going on in the world crypto but I see the btc price is still very good for now.I hope this year won't be a bloody year, and I hope that at the end of this year the price of BTC will up.

nullama

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Quote from: panganib999 on January 18, 2023, 03:02:51 PM

I think regardless of whether the year was bloody for bitcoin (Which it is), bitcoin is still deemed to recover due to its cyclical nature for profit. There's a plethora of reasons as to why this is the case but all of it is really pegged on the fact that bitcoin's total circulating supply is slashed midway (we call it the halving) every 4 years or something, which pumps the value of the coin drastically by means of scarcity. The next halving wouldn't happen til 2024 though, so as of now I am not really confident that bitcoin will rally upwards this year, unless something monumental were to happen.

In 2024 there will be the halving as you mentioned, but also there's another event that will happen in 2025 and is not really being discussed too much.

The BIS (Central Bank of Central Banks basically), will allow central banks all around the world from 2025 to have up to 2% of their reserves in Bitcoin. Source: https://bitcoinmagazine.com/legal/bis-finalizes-bitcoin-bank-limits

Now, that's an interesting thing. Because there will be a massive increase in demand, paired with the reduction of new coins being mined.

panganib999

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I think regardless of whether the year was bloody for bitcoin (Which it is), bitcoin is still deemed to recover due to its cyclical nature for profit. There's a plethora of reasons as to why this is the case but all of it is really pegged on the fact that bitcoin's total circulating supply is slashed midway (we call it the halving) every 4 years or something, which pumps the value of the coin drastically by means of scarcity. The next halving wouldn't happen til 2024 though, so as of now I am not really confident that bitcoin will rally upwards this year, unless something monumental were to happen.

Crypto Library

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Quote from: LDL on December 11, 2022, 06:29:17 PM

Yes it's true that 2022 is a bloody year for Bitcoin just like this picture. But this is not the only case. In the past, such a situation was also seen in 2018 in terms of the price of Bitcoin. However, Bitcoin was backed out of the service. So I think there will be bloody days like this but at the end of the day Bitcoin will stand its head high to the moon.
2021: China bans BTC mining. Bitcoin recovers in just 5 months.
2022-23: $32 billion exchange FTX collapses. Bitcoin recovers in just 2 months.
#Bitcoin is unstoppable ✊ source

teosanru

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Such a bloody year to be honest. It was exactly opposite to the year 2021 which was like the best year for Cryptos. But I feel that the pain might still not be over. Atleast not in 2023, if I remember correctly 2018 was bad but 2019 was even worse and so were the starting months of 2020, and I somehow expect a similar pattern from the market this time as well. You might see a dull 2023 before a bright 2024.

Sayeds56

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Quote from: LDL on December 11, 2022, 06:29:17 PM

Bitcoin is about to go through a bloody year. A number of unexpected events have prevented the Bitcoin market from ever moving upward this year. Dozens of unexpected events have struck fear into the minds of investors. Starting with investors, governments and central banks have taken a cautious stance on Bitcoin. So we are almost at the end of this unexpected year.

Some Bloody Events 2022 & Funds Exploits

Mango Exploit : $114-115M
Wintermute Hack: $160M
Beanstalk Farm Hack: $180M
Nomad Bridge Hack: $190M
WormHole Hack: $320M
Ronin Hack: $600M
Voyager : $3.75b
BlockFi: $4.5b
Celsius: $4.5b
Genesis Bankrupt: $5b
3AC implosions: $18b
Luna/UST crashed: $40b
FTX and Alameda Crashed: $40b+

The above shameful scam has completely negative impact on the Bitcoin market in 2022. We all hope that such incidents do not happen in cryptocurrencies in the coming years.

Indeed, crypto market experienced significant downfall, resulting in huge losses for Investors & traders , but it is history now. The lesson we learned in 2022 are as follows:

1- No centralized exchange is 100% secure. Always keep your funds in personnel wallet.
2- Bitcoin can even break it previous low and it is not necessary that it always follows previous patterns.
3- Stable coins based algorithmic concept are not safe. They can fail anytime & cause significant financial losses.

We should forget what happened in 2022 & move on. The performance of Crypto market has improved significantly since beginning of 2023, hopefully this trend will continue in coming weeks and months.

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Quote from: nullama on January 17, 2023, 05:11:04 PM

Quote from: ZAINmalik75 on January 17, 2023, 01:31:02 PM

~snip~
It's true that may be Bitcoin didn't show any strong rising movement in this year, but everytime when Bitcoin halving occure it's move the Bitcoin price to next level , so we can hope that this upcoming halving will help BTC to make new ATH.

Yeah, the next halving will occur sometime in early 2024, and in 2025 the central banks will be able to have up to 2% of their reserves in Bitcoin.

That means that probably in the next two years we will see an increase in demand for Bitcoin and a decrease in new coins available.

Assuming nothing else happens, this looks like will end up with increased prices per unit.

We'll have to wait and see what happens though.

When we do talk about future of Bitcoin or with this crypto space then nothing could really be known out and all of us would really be making those presumptions but it wont really be the exact thing that would happen but of course we could really make out assumptions basing up on what are the things that did happen in the past which it is really true that after or post halving which Bitcoins price do hit up new all time
highs which it could probably be doing the same thing and this is where most bitcoin enthusiast is really seeing or trying to wait up.For this year 2023 then it is really just still start for this new year
but we cant really know if this one would be better than on 2022.We cant still make out assurance but lets hope that it would really be at least different on making that easing ourselves on what weve seen
last year.

Easteregg69

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Quote from: Rengga Jati on January 17, 2023, 05:53:13 PM

Quote from: Golfler on December 30, 2022, 01:41:47 AM

It's really scary to see this, and I really hope that 2023 will be a good start. There are really too many events happening in 2022, and there are many not-so-good things.
I am waiting for a more suitable entry opportunity.

This is the risk in the cryptocurrency world. Moreover, the number of scams and also the various FUDs that are blown up a little can destroy a project. If this happens, don't be too afraid, just be vigilant, especially don't panic. It seems like it would be better if we invest in the sure thing. Bitcoin is one of the most suitable. And we must also know about asset storage to be safer.

Quote from: stadus on January 01, 2023, 04:53:07 AM

Unfortunately, we're not yet done as the bear season continues and we can't be confident that this year 2023 no scam will happen.

I do think so, let's see what other FUDs and big probelms will happen again in this year before the bullish era comes up. Many people still hate cryptocurrency so much. That is why many people especially those with strong power will always spread any FUD to destroy crypto. Additionally, the competition in the crypto business is also very tight, there will be another FTX again probably? Grin

I come down in a second if you wait.

Fire all the moderators!

[moderator's note: consecutive posts merged]

Rengga Jati

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Quote from: Golfler on December 30, 2022, 01:41:47 AM

It's really scary to see this, and I really hope that 2023 will be a good start. There are really too many events happening in 2022, and there are many not-so-good things.
I am waiting for a more suitable entry opportunity.

This is the risk in the cryptocurrency world. Moreover, the number of scams and also the various FUDs that are blown up a little can destroy a project. If this happens, don't be too afraid, just be vigilant, especially don't panic. It seems like it would be better if we invest in the sure thing. Bitcoin is one of the most suitable. And we must also know about asset storage to be safer.

Quote from: stadus on January 01, 2023, 04:53:07 AM

Unfortunately, we're not yet done as the bear season continues and we can't be confident that this year 2023 no scam will happen.

I do think so, let's see what other FUDs and big probelms will happen again in this year before the bullish era comes up. Many people still hate cryptocurrency so much. That is why many people especially those with strong power will always spread any FUD to destroy crypto. Additionally, the competition in the crypto business is also very tight, there will be another FTX again probably? Grin

nullama

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Quote from: ZAINmalik75 on January 17, 2023, 01:31:02 PM

~snip~
It's true that may be Bitcoin didn't show any strong rising movement in this year, but everytime when Bitcoin halving occure it's move the Bitcoin price to next level , so we can hope that this upcoming halving will help BTC to make new ATH.

Yeah, the next halving will occur sometime in early 2024, and in 2025 the central banks will be able to have up to 2% of their reserves in Bitcoin.

That means that probably in the next two years we will see an increase in demand for Bitcoin and a decrease in new coins available.

Assuming nothing else happens, this looks like will end up with increased prices per unit.

We'll have to wait and see what happens though.

ZAINmalik75

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We can hope that after this bloody year we can see some positivity in market, because the damage which has been done by scam and fraud of different projects to crypto space especially bitcoin is reviveble till some huge Bitcoin adoption news come to know .

Quote from: stadus on January 01, 2023, 04:53:07 AM

We are heading towards halving next year and it looks more exciting as most likely everyone is expecting a new trend on the market. I can say that this year is likely to become an accumulation year in the crypto market.

It's true that may be Bitcoin didn't show any strong rising movement in this year, but everytime when Bitcoin halving occure it's move the Bitcoin price to next level , so we can hope that this upcoming halving will help BTC to make new ATH.

nullama

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Quote from: Outhue on January 07, 2023, 09:41:05 AM

The truth is something must happen to cause the greatest correction after every new Bitcoin ATH, where that will come from doesn't matter unless you are new to crypto, I was expecting something like this to happen the moment BTC hit 67,000$ and this will keep happening after every new all time high, I won't expect much from this year until BTC halving takes place but it's definitely a great time to start accumulating BTC.

Yeah, the base price of Bitcoin will probably continue to raise every few years.

The thing is that on top of that base price we will have lots of fluctuations generated by a huge amount of diverse factors.

At the end of the day, if fundamentals continue to exist, then the price should increase in the long term.

Outhue

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The truth is something must happen to cause the greatest correction after every new Bitcoin ATH, where that will come from doesn't matter unless you are new to crypto, I was expecting something like this to happen the moment BTC hit 67,000$ and this will keep happening after every new all time high, I won't expect much from this year until BTC halving takes place but it's definitely a great time to start accumulating BTC.

ringgo96

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We all hope that this year will be better than the current year, indeed in 2022 Many major events have occurred in the crypto world so that the value of the coin has dropped dramatically, with the events of the last year we can see and learn some things that can indeed harm us and this year we must be able to correct so that the mistakes we have made are not repeated again, and hacks that have occurred on several exchanges in order to increase higher security so that no major losses will occur this year.

nullama

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Quote from: xSkylarx on January 01, 2023, 05:39:28 AM

~snip~
If there are no something happen in bitcoin for sure more and more people will adopt bitcoin and also businesses that will accept this as payment method . Though I don't hear that central banks will be able to have 2% reserves of bitcoin. Where did you get this info ? But for sure in the future after halving the price will be stabilize in couple of months then after it bitcoin will be making again a new ATH.

I read it directly from the Bank for International Settlements (BIS), which is basically the Central Bank of Central Banks.

Here's the report: https://www.bis.org/bcbs/publ/d545.pdf

Here's some news about it: Basel Committee Finalizes Policy Suggesting 2% Bitcoin Exposure Cap For Banks

BATHES

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Quote from: xSkylarx on January 01, 2023, 05:39:28 AM

Quote from: nullama on December 31, 2022, 10:34:58 PM

Quote from: redsun114 on December 31, 2022, 05:06:55 PM

~snip~
I mean the idea is that if we had a whole year, even more than a year, nearly a year and a half with bear market then there is a set amount of bitcoins in the world and eventually people will run out of bitcoins to sell, sure there are also buyers and they could keep on selling in a cycle to keep it going lower but lets be honest eventually it will be all diamond hands and no weak hands at all.

This is why it's going to be easier to go up eventually, the more time you spend on the bear period, the closer you get to the bull period, bear is not forever and eventually it will have to end and that means this "eventually" is getting closer and closer with time.

Over time there will be more and more people, companies, and countries that will want to have Bitcoin. That, combined with the halvings will inevitably lead to higher prices for Bitcoin. This is not new or controversial, we have more than a decade's worth of data about it.

Also, in 2025 Central Banks will be able to have up to 2% of their reserves in Bitcoin. That will be a huge milestone.

If there are no something happen in bitcoin for sure more and more people will adopt bitcoin and also businesses that will accept this as payment method . Though I don't hear that central banks will be able to have 2% reserves of bitcoin. Where did you get this info ? But for sure in the future after halving the price will be stabilize in couple of months then after it bitcoin will be making again a new ATH.

But the period of halving is really difficult. Now that there is no cash, there will be no money to buy coins if there is a chance.
I deeply understand the horror and bloodiness of the bear market. I think the most important thing now is to continue to make money and seize the opportunity to continue buying more before the halving.

xSkylarx

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Quote from: nullama on December 31, 2022, 10:34:58 PM

Quote from: redsun114 on December 31, 2022, 05:06:55 PM

~snip~
I mean the idea is that if we had a whole year, even more than a year, nearly a year and a half with bear market then there is a set amount of bitcoins in the world and eventually people will run out of bitcoins to sell, sure there are also buyers and they could keep on selling in a cycle to keep it going lower but lets be honest eventually it will be all diamond hands and no weak hands at all.

This is why it's going to be easier to go up eventually, the more time you spend on the bear period, the closer you get to the bull period, bear is not forever and eventually it will have to end and that means this "eventually" is getting closer and closer with time.

Over time there will be more and more people, companies, and countries that will want to have Bitcoin. That, combined with the halvings will inevitably lead to higher prices for Bitcoin. This is not new or controversial, we have more than a decade's worth of data about it.

Also, in 2025 Central Banks will be able to have up to 2% of their reserves in Bitcoin. That will be a huge milestone.

If there are no something happen in bitcoin for sure more and more people will adopt bitcoin and also businesses that will accept this as payment method . Though I don't hear that central banks will be able to have 2% reserves of bitcoin. Where did you get this info ? But for sure in the future after halving the price will be stabilize in couple of months then after it bitcoin will be making again a new ATH.

stadus

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Quote from: LDL on December 11, 2022, 06:29:17 PM

...

The above shameful scam has completely negative impact on the Bitcoin market in 2022. We all hope that such incidents do not happen in cryptocurrencies in the coming years.

Unfortunately, we're not yet done as the bear season continues and we can't be confident that this year 2023 no scam will happen.

Anyways, we can just hope for a recovery this year. The accumulations seem growing meaning that people are not afraid of the risk despite the big scam that happened last year. It was an indication that it never affects the trust in crypto.

We are heading towards halving next year and it looks more exciting as most likely everyone is expecting a new trend on the market. I can say that this year is likely to become an accumulation year in the crypto market.

nullama

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Quote from: redsun114 on December 31, 2022, 05:06:55 PM

~snip~
I mean the idea is that if we had a whole year, even more than a year, nearly a year and a half with bear market then there is a set amount of bitcoins in the world and eventually people will run out of bitcoins to sell, sure there are also buyers and they could keep on selling in a cycle to keep it going lower but lets be honest eventually it will be all diamond hands and no weak hands at all.

This is why it's going to be easier to go up eventually, the more time you spend on the bear period, the closer you get to the bull period, bear is not forever and eventually it will have to end and that means this "eventually" is getting closer and closer with time.

Over time there will be more and more people, companies, and countries that will want to have Bitcoin. That, combined with the halvings will inevitably lead to higher prices for Bitcoin. This is not new or controversial, we have more than a decade's worth of data about it.

Also, in 2025 Central Banks will be able to have up to 2% of their reserves in Bitcoin. That will be a huge milestone.

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Quote from: worle1bm on December 30, 2022, 02:07:01 AM

We all are having hopes that the next year should be positive one for the market but we don't know what awaits next and like this year there could be more crash or scams distrubing the market and not giving chance to recover.The situation will be back when investors start putting more money into the market regaining trust.But yes we have seen so many big fails this year which has wiped out billions out of market so it will take time to pump back so hope the next year brings that for us.

I mean the idea is that if we had a whole year, even more than a year, nearly a year and a half with bear market then there is a set amount of bitcoins in the world and eventually people will run out of bitcoins to sell, sure there are also buyers and they could keep on selling in a cycle to keep it going lower but lets be honest eventually it will be all diamond hands and no weak hands at all.

This is why it's going to be easier to go up eventually, the more time you spend on the bear period, the closer you get to the bull period, bear is not forever and eventually it will have to end and that means this "eventually" is getting closer and closer with time.

Topic: Bitcoin Bloody Year 2022 coming to End (Read 1055 times)