Bitcoin is About to Surpass Silver. | Bitcointalksearch.org

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Quote from: memehunter on Today at 05:37:38 AM

I strongly disagree for above mentioned reasons I just stated.
Just because BTC has touched new ATH (which might look a lot to us) that does not mean that it is not a good entry point. Bitcoin has proved this continuously over the last decade.
Any entry point will be risky anyway for a short term low confident investor.

Doubt always arises when Bitcoin reaches ATH, remember when BTC was priced at $600 people said it was a risky price because it was high but look at it now as well as when the price was $20,000 and it will continue to arise in the years to come because they only see the potential to fall not the belief that Bitcoin will still be bright in the future.

But it is highly recommended for those who want to start buying at the current price to understand the risks and understand how the Bitcoin market works otherwise he might just be the one who loses.

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Quote from: Minor Miner on Today at 05:01:29 AM

gold is scarce and in much higher demand, gold is much more valuable than silver even though both are precious metals that have been around for thousands of years.

This is the reason, marketcap is just a number and unfortunately people are using it to compare things across domain. When price level is based on supply and demand, we need to go for marketcap for comparing and ranking within a domain. Now marketcap is the only common measure across domains then we we need such comparison to get an overall idea and nothing more. Telephones took 80 years to reach a common man whereas wireless technology needed less than 10 years for the same. Similar theory applies for bitcoin.

Quote from: memehunter on Today at 05:37:38 AM

Trump implements his vision for BTC I do not think it will take much time to surpass gold

Trump factor is time-limited and I do not think bitcoin must need that. Bitcoin was designed in a manner it will be superior than gold hence it will be. Even if Trump will forget cryptocurrencies, bitcoin will surpass gold marketcap within next year or after next halving by considering every halving will bring ~10x growth to bitcoin.

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Quote from: memehunter on Today at 05:37:38 AM

Quote from: Minor Miner on Today at 05:01:29 AM

giving bitcoin investment advice at this point will have more risk than profit

I strongly disagree for above mentioned reasons I just stated.
Just because BTC has touched new ATH (which might look a lot to us) that does not mean that it is not a good entry point. Bitcoin has proved this continuously over the last decade.
Any entry point will be risky anyway for a short term low confident investor.

I agree. Before, they say $60k was a bad entry point and now look at where we are. It's always been a bad entry point whenever Bitcoin reaches an all-time high and I think this has become like a plague. The same with the other sudden upward fluctuations where most people would be afraid to buy or invest because they think it has become expensive.
Now, it's more expensive, so where is the real entry point? I don't think there is one. If you trust Bitcoin, you buy it. That's all we can do, to have faith in it. Buyers will come, demands will enter, and I think with all the things that are happening mostly regarding Bitcoin (i.e. ETF, Trump promise, and more), we can have that bit of trust that our investment is not actually in high risk anymore.

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Quote from: Minor Miner on Today at 05:01:29 AM

Overall, comparing bitcoin to companies is inappropriate

An asset is anything that a company owns that can be bought or sold and contributes to profitability.
The SS is from https://companiesmarketcap.com/inr/assets-by-market-cap/ and they have listed top 10 assets by market cap.

Quote from: Minor Miner on Today at 05:01:29 AM

What do you think, will Bitcoin surpass gold?

IMO if Trump implements his vision for BTC I do not think it will take much time to surpass gold as it will trigger a chain reaction among other nations to join the race. Bitcoin as of now is a true global currency in an objective sense (features of currency).

Quote from: Minor Miner on Today at 05:01:29 AM

giving bitcoin investment advice at this point will have more risk than profit

I strongly disagree for above mentioned reasons I just stated.
Just because BTC has touched new ATH (which might look a lot to us) that does not mean that it is not a good entry point. Bitcoin has proved this continuously over the last decade.
Any entry point will be risky anyway for a short term low confident investor.

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Quote from: EarnOnVictor on Today at 02:34:44 AM

But I won't join you in advising people to invest more at this time, there is a need for them to wait until it is inexpensive again to buy. Besides, Saudi Aramco is a company, you don't compare them, compare assets for the right measures.

Sources: 1. https://coinmarketcap.com/currencies/bitcoin/
2. Bitcoin & Silver

Overall, comparing bitcoin to companies is inappropriate, bitcoin should be compared to gold, silver or real estate which would be more appropriate. It's amazing that it took bitcoin just 15 years to overtake a thousand year old asset like silver but many are starting to believe that it will soon surpass the market capitalization of gold and this makes me skeptical. Because gold is scarce and in much higher demand, gold is much more valuable than silver even though both are precious metals that have been around for thousands of years. I don't know if bitcoin can surpass gold but I don't think it will happen easily or in our generation.

What do you think, will Bitcoin surpass gold?

I agree with you, giving bitcoin investment advice at this point will have more risk than profit, so I also do not participate or give advice to others, they should learn and decide for themselves.

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Well it did happen Bitcoin did pass silver and Saudi Aramco. With marketcap now of $1.817 Trillion I do not think we are going to be slowing down but still continue this 'bull run'.

I do just wonder how long now we must wait for it to pass Google. It may be before year is over at this rate we are going. I do think it will pass Google before there is a price correction.

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Quote from: Justbillywitt on Today at 02:00:34 AM

The truth is bitcoin was already destined to be number one, and gradually it will get there, it will only take time. Gradually that time is approaching. Google and Amazon are not too far from reach, soon they are going to lose their spots to bitcoin. And the funny this is that bitcoin will keep growing over the years. And once bitcoin has successfully claimed the top spot it will be difficult others to overtake it again.

Are you sure? we're judging Bitcoin when the price is high, bear season is inevitable in Bitcoin regardless the economy condition. In bear season, Bitcoin price can down for 2-4x than the current price, so I will not be surprised if Bitcoin down to 11-12 ranks in the future.

We might see Bitcoin become the number one after 8 years or more, it's still long to go.

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Quote from: memehunter on Today at 01:39:50 AM

We have officially surpassed Saudi Aramco. Now IMO Google and Amazon would be surpassed by Bitcoin very soon. It is so amazing to see Bitcoin creating history (again and again Grin

)

That's true. With Bitcoin price going on an incline, there's the possibility of it passing Google at the least but I think Bitcoin would need a bigger boost for us to see that happening because if I'm not mistaken Google price is times two of Bitcoin's price at the moment but that shouldn't be a deterrent because in the market, anything can happen.

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Quote from: memehunter on November 11, 2024, 01:00:01 PM

More reasons to top up your existing BTC wallet. Bitcoin is about to surpass Silver to become 8th largest asset (market cap wise). IMO party is just started who knows Bitcoin might surpass Saudi Aramco (currently 7th largest) very soon as well.

Sure, Bitcoin will surpass the market cap of Silver, by that, I mean significantly edge higher than it because Bitcoin is already leading it presently and I've never had a doubt about that because Silver is less than $1.8T in market cap, while Bitcoin is strongly progressive. With Bitcoin already at $1.82T, it shows that it has beat the liquidity of Silver, not to mention having more hopes to rise further.

But I won't join you in advising people to invest more at this time, there is a need for them to wait until it is inexpensive again to buy. Besides, Saudi Aramco is a company, you don't compare them, compare assets for the right measures.

Sources: 1. https://coinmarketcap.com/currencies/bitcoin/
2. Bitcoin & Silver

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Quote from: memehunter on Today at 01:39:50 AM

We have officially surpassed Saudi Aramco. Now IMO Google and Amazon would be surpassed by Bitcoin very soon. It is so amazing to see Bitcoin creating history (again and again Grin

)

The truth is bitcoin was already destined to be number one, and gradually it will get there, it will only take time. Gradually that time is approaching. Google and Amazon are not too far from reach, soon they are going to lose their spots to bitcoin. And the funny this is that bitcoin will keep growing over the years. And once bitcoin has successfully claimed the top spot it will be difficult others to overtake it again.

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We have officially surpassed Saudi Aramco. Now IMO Google and Amazon would be surpassed by Bitcoin very soon. It is so amazing to see Bitcoin creating history (again and again Grin

)

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Quote from: Smack That Ace on November 12, 2024, 03:05:14 AM

I see some people saying that bitcoin price is quite high and buying at this time is not a wise idea but to wait. But I wonder when is a good time to buy, is there any guarantee that bear season will come and prices will be cheaper than now? If we follow the market, we will notice that ETFs are still actively buying bitcoin in large amounts every day. This shows that they believe that the price of bitcoin will increase even more in the future and it is unlikely that the price will fall sharply again. Big investors are confident about bitcoin price, why are we afraid of it? Do we really believe in bitcoin as we claim?

Yes you will see many people actually spreading this fud now that it is expensive to buy. When bitcoin was less than $20k late 2022 it was said that the coin is heading down to its end and since from there it has done a 4x already and still they are simply going on to FUD it. Last year was the perfect time to stack bitcoin, this years there was also an opportunity to get to buy again but they still didn’t. So don’t be faze by those actual not wanting others to buy.

If you’re looking for a long term investment in bitcoin there is no perfect time to buy than when you have funds on you. You would think it is high but the best price you might be getting it cheap could be price you first had intention to buy it. Bitcoin isn’t even at a six figure yet and there is potential of it even doing 2x more from it’s current price of $90k

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Quote from: Smack That Ace on November 12, 2024, 03:05:14 AM

Quote from: memehunter on November 11, 2024, 01:00:01 PM

More reasons to top up your existing BTC wallet. Bitcoin is about to surpass Silver to become 8th largest asset (market cap wise). IMO party is just started who knows Bitcoin might surpass Saudi Aramco (currently 7th largest) very soon as well.

Bitcoin has hit $90,000 and officially surpassed silver and its market cap is hovering around $2 trillion.

I see some people saying that bitcoin price is quite high and buying at this time is not a wise idea but to wait. But I wonder when is a good time to buy, is there any guarantee that bear season will come and prices will be cheaper than now? If we follow the market, we will notice that ETFs are still actively buying bitcoin in large amounts every day. This shows that they believe that the price of bitcoin will increase even more in the future and it is unlikely that the price will fall sharply again. Big investors are confident about bitcoin price, why are we afraid of it? Do we really believe in bitcoin as we claim?

Nah, I disagree, they have a lot of time of time to buy Bitcoin before, but some investors didn't because they have a lot of negative connotations on it. And now that we are in the $90k and probably going to hit $100k, now they said it's expensive, so I guess we can't really please anyone here. But for now, there is no right time to buy, as long as we can accumulate and save, we are still going to be good.

And in this bull run, Bitcoin will be big and so we will surpass not that Silver as the the 8th largest asset, but some valuable companies too. This is Bitcoin as his finest, during the bull run, it's really hard to stop it's magical run.

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Quote from: memehunter on November 11, 2024, 01:00:01 PM

More reasons to top up your existing BTC wallet. Bitcoin is about to surpass Silver to become 8th largest asset (market cap wise). IMO party is just started who knows Bitcoin might surpass Saudi Aramco (currently 7th largest) very soon as well.

Once Saudi steps in, I think that it is going to be the greatest FOMO of all time. Most countries are going to enter as well and investors that are in doubt will have to change their thoughts about Bitcoin. If there are countries and governments that trust more, they are for sure going to follow what Saudi is doing. They're the king of oils and what's more if they'll also be going to be the king HODLING Bitcoin. That's going to be a new thing for them but then, a worldwide trend that they're setting for the next years to come for which what US is doing right now starting January 2025.

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Quote from: AsiaHODL on November 11, 2024, 03:45:17 PM

Quite a milestone. Its coming for gold next.

that'd be massive but I'm sure BTC can do that.
BTC is more popular than ever yet there's still so many people that aren't exposed to BTC, eventually once whole world recognizes BTC and acknowledge it, the value will just only go up.
there are also some rumour about strategic bitcoin reserve and so on, seems pretty positive news to me.

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Quote from: Jawhead999 on November 12, 2024, 04:19:40 AM

Bear season is expected to happen in the next two years.

Bitcoin is slowly becoming as popular an investment as traditional investments like gold or stocks because it not only attracts people's attention but governments also want to get their hands on it. That got me thinking, are we going to have the bear season like before or are we going to keep going up until everything peaks like gold? Of course, there will be a correction because no market can go up vertically but the correction will not be significant, we will no longer see 70%-80% drops like before, IMO.

The altcoin market remains unchanged but I think bitcoin will take a different direction in the coming years.

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Impressive as that is, the recent rise of Bitcoin beyond the market capitalization of silver, positioning it as the 8th largest asset in the world, should be put into perspective at a valuation of about $1.4 trillion, the road to the top of the market cap leader board for Bitcoin will not be easy and smooth. And I think this climb has been heavily fueled by investor interest around Bitcoin ETFs.

However, as for beating companies like Saudi Aramco and Alphabet, Bitcoin would need more than hype for that, it would need mass utilization and utility outside the boundaries of a speculative asset. While Bitcoin has seen some pretty keen interest at an institutional level, it is still a ways from comparisons with giants featuring tangible business models and cash flows, like Alphabet and Aramco.

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Quote from: Smack That Ace on November 12, 2024, 03:05:14 AM

I see some people saying that bitcoin price is quite high and buying at this time is not a wise idea but to wait. But I wonder when is a good time to buy, is there any guarantee that bear season will come and prices will be cheaper than now? If we follow the market, we will notice that ETFs are still actively buying bitcoin in large amounts every day. This shows that they believe that the price of bitcoin will increase even more in the future and it is unlikely that the price will fall sharply again. Big investors are confident about bitcoin price, why are we afraid of it? Do we really believe in bitcoin as we claim?

https://www.theblock.co/data/crypto-markets/bitcoin-etf/bitcoin-spot-etf-volumes

You're correct, there was a big inflow in Bitcoin ETF yesterday even though not as big as in March. But, I think it will keep rising because people know that Bitcoin in bullish season, they want to flip their money.

In 2021, someone who bought Bitcoin at the peak will say they're stupid, but if they keep holding till now, they've earn around 28%. So it doesn't matter if you buy Bitcoin right now.

Bear season is expected to happen in the next two years.

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Quote from: memehunter on November 11, 2024, 01:00:01 PM

More reasons to top up your existing BTC wallet. Bitcoin is about to surpass Silver to become 8th largest asset (market cap wise). IMO party is just started who knows Bitcoin might surpass Saudi Aramco (currently 7th largest) very soon as well.

Bitcoin has hit $90,000 and officially surpassed silver and its market cap is hovering around $2 trillion.

I see some people saying that bitcoin price is quite high and buying at this time is not a wise idea but to wait. But I wonder when is a good time to buy, is there any guarantee that bear season will come and prices will be cheaper than now? If we follow the market, we will notice that ETFs are still actively buying bitcoin in large amounts every day. This shows that they believe that the price of bitcoin will increase even more in the future and it is unlikely that the price will fall sharply again. Big investors are confident about bitcoin price, why are we afraid of it? Do we really believe in bitcoin as we claim?

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Quote from: EL MOHA on November 11, 2024, 04:03:23 PM

Bitcoin has already surpassed silver already by going up to the new all time of $87,200.

Yes indeed it has surpassed Silver and closing gap between 8th and 7th place.

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