Topic: Bitcoin is a different kind of wonder (Read 458 times)

Wishing the Bitcoin price will hit $400,000,000 someday, it might happen, but I guess not in our generations.

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5 from 10 the richest Bitcoin addresses are locked in centralized exchanges' cold storage.

Why only next 8 years? do you think Bitcoin will become dead coin in 2033?

When you say "a hit" I think this can also mean that the price is rising, and there will also be people who will sell during it. And yeah, they can have that thinking that maybe this is the last high price that we will see for now? So instead of wasting the opportunity and waiting for a long time again for BTC to recover, why can't they just take it? Besides, they can still buy back again.

If we are talking about the dumps, there are instances that BTC dumps a lot but it does not mean that it is now dying and it will not recover anymore. In fact a lot of people likes this and they will now buy more. Those people who blame BTC are crazy. They can't admit their own mistakes.

Bitcoin is surely a rising star and has gained critical acclaim from the most famous people on earth. Despite not being in physical form the sheer security and intangibility of having these coins online and offline has proved to be the most sound and resiliant form of currency. Bitcoin is absolutely in a class of its own! In fact it made its own class and is the first in its own class so to speak. One day we will be looking back on these days and sharing with our loved ones that we witnessed history. Can you believe Bitcoin is only 15 years old?! Bitcoin has just got its learners permit to drive if it were a child haha.

Bitcoin has been a global wonder to people, since ever Bitcoin has been created it keeps adding values in every four years of Bitcoin halving occur and most early investors that sold out are regretting it by now. But is not too late to invest on Bitcoin, because in the next 8 years from now going to add more value and keep wondering people.

The past few years have seen a noticeable and considerable improvement in bitcoin.
Given that bitcoin is already regarded as a valid type of digital currency and has received increased recognition and acceptance, its growth and adoption, in my opinion, have already been aided by a number of advancements that have already occurred.
 We are genuinely surprised by the substantial increase in the value of the bitcoin market since its launch.
It has attracted investors and speculators since, despite some volatile periods, the underlying trend has been upward.
I believe that bitcoin has become a notable investment asset as a result of its price increase. 

In your price journey, a bad omen was dropped because you mention $10k for 2024, in any case, predicting rising prices are all good but don't forget to have a plan for when the price doesn't work out as you thought.

I hope that in those moments you continue to think the same.

Zanab247, Bitcoin is a potential digital currency and people see it has the perfect alternative but that doesn't mean it's the solution to all financial-related problems. Let's be sincere, BTC still has a long way to go judging by the world population and the total number of people that are into BTC as we speak. Yes, more people will want to learn about it but now that BlackRock, etc are into it we should expect huge market manipulation just like they did with the setting they engage in, in the real world.

Nimogsm, BTC mining difficulty change every 14 days and it has nothing to do with block halving which the protocol of split into half the miners reward. Yes, the halving will create an impulse that will lead to market rally because it was purposely introduce by Satoshi to serve as inflation control.

there will be a halving quite soon and I think it will be this that will give the first impulse and trend for this year. It will now be more difficult for miners to mine it and it will be more scarce, most likely transactions on the network will also become more expensive, which in turn should cause the price of Bitcoin itself to rise, which many and they are waiting. I think this year will be decisive in many ways.

Bitcoin is not a wonder of the world - but it is the result of a revolution in the financial industry. You should know exactly what bitcoin is and what is the wonder of the world - so I don't think it's worth it when you say it's the same. The high value of bitcoin does not make bitcoin comparable to the wonder of the world as you mean - so it doesn't feel right.

Yes - everyone can always buy bitcoin whenever they want, even if they can only afford a few sats.

Bitcoin is just another wonder of the world, although it is yet to find its way in the books of wonders earth has ever had, it remains undeniably the best human created wonder.

As for those looking at the price of Bitcoin to having made over 10,000 percent,  i will advice that you look at it from a different standpoint.

We are still early in adopting Bitcoin, and it is still  very much affordable to acquire since we still have a substantial amount circulating and not locked away in some offline wallet somewhere

It's just a narrative to satisfy you. It's demoralizing.

And even such a simple observation is beyond what most people can comprehend, since whenever the price of bitcoin takes a hit they sell their coins thinking that this is the end and that bitcoin is never going to recover, and then when bitcoin proves them wrong once again they get bitter about it and they wish they never sold their coins, buy into the market again when bitcoin is close to the top and repeat the same cycle all over again.

That is why you see BTC continue spreading all over the world to attract people to seek for more knowledge of BTC because, the wonders people are receiving from the decentralized currency make them to believe that they have wasted a lot of years for centralized currency in their land but this year 2024 BTC will still display some wonders that will make the price to move above $50k before the end of January.

I don't think the bull run will reach 2026 but it will reach 2025 for investors to enjoy long bull run to recover from their losses they encounter last few years in the bear run.

I guess you wanted to say it’ll exceed $100,000 and not $10,000. As it has been speculated by many most of which are experts who have been in the ecosystem for a long time is that bitcoin will double its current all time-high at bull run when bitcoin is expected to have a new value. It is a great year that many have anticipated for and would want to make good profit from their investment this year. At this point, everyone can now tell how bitcoin will definitely increase in value and will also want to see them earning greatly from it. There is no doubt, bitcoin will go up in price at this speculated time but how much it will reach is what is uncertain to many.

The recession has heat the economy of the world so badly that people do not really have excess of money to put into bitcoin now. It is also noteworthy to mention that the prices of commodities are going in the rise. What you use to purchase for a price before is now x2 of the value today in the commodity market. So it is only normal for the dynamics of things to change including in the financial system.

However, whether there's inflation or not, many people out there are also not bothered about it as they are financially buoyant enough to stand for themselves and to always penetrate the market. I'm pretty sure there are people who have their ways of taking advantage of the market at all times.

Right! Bitcoin goes up, takes a dip, but then bounces back stronger. The fact that it keeps recovering builds trust, making it seem like a safer bet in the long run.

No, it's not the first digital currency. It is eCash by David Chaum. But to say the first cryptocurrency, it is Bitcoin.

What you are saying is mostly about the history of the price actions of Bitcoin and I think that's much better for its title.

It is speculated that it is going to be the year of bull run starting on this year but the peak of it is going to happen by 2025. Whilst for 2026, it's assumed that we're going to go through with the bear market by that time.

The way I see it, Bitcoin moves in a certain way, making three steps forward and two steps back. It reaches a certain price, then loses more than a half of it, but then gradually builds up toward a full recovery and even toward surpassing the previous ATH. What's important is that it always recovers and always move forward, which means that a bear market is not the end and doesn't have to result in a loss of money. It can be reasonably argued that there may come a point of no return, something from which Bitcoin never recovers. But the more times Bitcoin recovers, the stronger the trust in this tendency becomes, making it a safer asset.

So obvious Dear, As we know the Approval of Bitcoin spot ETF is a big achievement since the day it was born well many expect it will surge the price of 200k$, and many expect it will reach 150k$ in this bull run. There are two things in this season to make it successful Bull run season+Spot ETF hopefully which can lead it up to our goals. Many Big institutions are buying it right now after the approval news of spot ETF and they are also bullish.   

FOMO is different from panic sell. FOMO is for the buying spree people go on pushing the price up.
The reason why we aren't seeing that these days (despite the fact that people know the potential of bitcoin and see it as a hedge against inflation) is the recession! People simply don't have enough spare money to put into bitcoin as before.

These are definitely some of the reason for the less volatility we are currently having, I will also like to add that probably the less FOMO we have in the market now due to many people looking at bitcoin as a store of value and a good hedge against inflation they are reluctant to sell. In the past it is this sale that actually lead to massive sell during bull run and also in bearish periods to due to the fear of missing out. But right now even at both market trends people aren’t scared because they now know the real potential of bitcoin and will rather hold very long to it which I will say has directly affected the volatility rate that it is very hard at this time to see bitcoin do a 5x from its ATH like before.

I agree on you with this one instead of relying on the 15 years price history although it isn't bad either if you know the price history so you can have a price prediction for example in the future like what you are explaining where  being ready for a possibility of price increasing to that heights. I know you get what I mean especially knowing if there's news or event like halving even though halving is known since it will happen once it reaches the amount of blocks being mined.

Definitely, if we look his past history, there are patterns on prices, but it's hard to predict where and when and what will be the highest it will go through. And that's why there are early bag holders who tend to sell instead of holding as they thought that bitcoin will not go that far. But look at what happen to it, majority of them regret their decision to sell early. Nevertheless it's not that late for them and for the majority of us to buy and then HODL (specially for those who don't want to trade).

And in the incoming bull run, or right after the block halving, bigger prices are to be expected, again. Speculators are predicting a minimum $100K at least as our new all time high. But we will see, it could be +/-, however, if we have accumulate this past couple of years, we might be just sitting in the bull run and see how it unfolds and look how bigger our portfolio will grow.

That's what my though has been it would be better to start accumulating Bitcoin instead of focusing on how and when the value of Bitcoin would increase, though we have seen in the past Bitcoin will surely increase despite the hurdles. We should be more worried about the fact we have not accumulated much and work towards hodling more Bitcoin. But I believe ATH will be achieved next year based on last two bull seasons data as many are expecting bull run this year and we may see some dumps which we have to capitalize on to buy Bitcoin at lesser price.

maybe what he means is that the price of bitcoin will increase by 10k dollars this year, so that will make the bitcoin value reach 50k usd.

reaching 50k usd is quite possible according to my predictions, seeing how bitcoin has moved in the past few months and the halving that is getting closer will be able to push the price of bitcoin higher than its current point.

the problem now is only speculators and the sec who might create new problems which will intervene in bitcoin price movements. and several other problems beyond that that may occur in the future. but if holders believe in the potential of bitcoin, they should not be influenced by these things.

That's true but I think it should start after we get close to mass adoption not now that we are still far away. I believe that the reason why the bubbles and bursts are decreasing over the past couple of years is because of the subsequent economic crisis at global scale. Basically ever since 2019-2020 we were in crisis mode with Pandemic and now the Wars. That significantly affects bitcoin's adoption and consequently the size of the bubbles.

In other words I believe that if the economic crisis were to end today and they decreased interest rates we would start seeing the biggest bubble so far and half a million as the peak is not going to be that hard to reach.

Relying on the past 15 years as a basis for forecasting for the coming years is not accurate, as the price of Bitcoin started at a very low price and rose and will not rise at the same level, but the patterns may be repeated, which happens every four years. If the pattern is repeated, we will see levels higher than $80,000 before the end of this year. And levels higher than 130 thousand dollars before the end of next year, and therefore it is an opportunity to double your money three times or at least twice, and therefore it is better to prepare for that instead of thinking that the price will reach very high levels, such as more than $200k.

A Bitcoin price chart with price since 2009: https://bitcoin.zorinaq.com/price/

They will see less bubbles and bursts if they see Bitcoin price in logarithmic scale or with yearly candles or with yearly lowest price. They will see less volatility and a stronger upward trend.

https://coinmarketcap.com/currencies/bitcoin/ (click on All and Log).
https://buybitcoinworldwide.com/stats/yearly-candles/ (yearly candles).

It's interesting that all the times I saw someone talk about bitcoin's bubbles and bursts, they start from 2013 and $100ish prices and they always ignore the bubbles and bursts before that time. I promise you that for example rising from $0.1 to $2 is the same rise as $50 to $1000 and $1000 to $20000 and all of them are a 20x rise.
The point is, these ups and downs were happening from the start and just because at the beginning the "number" was small doesn't make it less important.

I believe we will have a bull market but to skyrocket (in the same sense as previous "bubbles") is unlikely in my opinion because the sell pressure caused by the global economic strain is still there and as long as it doesn't go away it will prevent that skyrocket.

One sign of it going away would be interest rates coming down.... There still is no sign of it though.

They will enjoy high fees because the spam on the main network won't end after the halving. I am sure it will increase and we might again witness atrocious fees that can go beyond 200sat/vB. The miners know it and the developers want the network to get spammed, to keep them from moving anywhere else. I feel this is the first time that the miners are making more in fees than they did in the previous halvings.


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Maybe you mean 100,000 Dollars.  We are past 10,000 since long time ago.

I believe Bitcoins price should be at least twice for Miners to continue running their Hardware efficiently after Halving.  Costs of running the Hardware are the same but you get half the income.  I am not a Miner however so I may be B S ing.

A tip for you, OP.  Split that block of text into multiple paragraphs.  It becomes a strain to my eyes and brain after reading the first two lines of the text.

Maybe or maybe not. Anything can happen these days as we can observe the rapid evolution of AI. In some countries Government are deciding to draft laws to control crypto markets

Bitcoin started its journey from that year 2009 and currently reached 2024. Bitcoin's phenomenal success over the past 15 years is truly mind-boggling. Bitcoin started its journey in 2009 with a very low price. In 2009, the price of Bitcoin finally reached $0.30 and currently the price of Bitcoin is close to $46000. Bitcoin's contribution as the first digital currency in the world is indeed the greatest. One such coin is accepted by the EFF. In the beginning, the value of Bitcoin was very small, but in the four years between 2010 and 2013, the value of Bitcoin reached $123. Again, between 2014 and 2017, the price of Bitcoin went to 750 dollars. In the middle of 2015, Bitcoin suffered major losses. About 50% of Bitcoin's value went down. Also 19 thousand BTC was hacked. But the point is that in 2017 Bitcoin made the first history in the world of crypto currency Bitcoin gained almost 1300% which is really amazing for that time. Poloniex made almost 60% profit in six months with Bitcoin. Thus, between 2018 and 2022, the price of Bitcoin was from $3000 to $30,000 in early 2021, and in mid-2021, the price of Bitcoin exceeded $65,000, which is the highest in Bitcoin history. In 2022, the market price of Bitcoin was again at $15,000, and by the end of 2023, the price of Bitcoin reached $46,000. In the current year 2024, I believe that the value of Bitcoin will exceed $10,000.  All past data suggests that bitcoin price bull markets tend to move upward too quickly.  I think Bitcoin will skyrocket between 2024 and 2026.