Bitcoin is improving I guess? - page 2.

Franctoshi

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Quote from: STT on July 28, 2023, 06:24:28 PM

40k isn't impossible but the improbable near term is the guess of most people. The reason being the market itself is still reacting to higher Dollar rates and so we remain at an elevated level of the Dollar Index, wait for 100 to be lost first of all otherwise this price action is base building. I think the market remains biased toward dollars rather than assets operating without that headline yield from interest rates being higher right now.
Inflation is still higher than rates over this year and the last and probably in the future, so BTC is easily possible to gain vs the dollar ie. higher prices are possible over time.

For sure, 40k isn't a big deal to achieve towards the end of the year, if not for a lot of challenges that the entire cryptocurrency market faced in 2022 and this year, including inflation, economic crisis, bankruptcy, interest hikes, yet Bitcoin is still sustaining a pretty good price at the moment. All the issues coupled together have made Bitcoin seem not to be where it should be at this time.

STT

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40k isnt impossible but improbable near term is the guess of most people. The reason being the market itself is still reacting to higher Dollar rates and so we remain at an elevated level of Dollar Index, wait for 100 to be lost first of all otherwise this price action is base building. I think market remains biased to Dollar rather then assets operating without that headline yield from interest rates being higher right now.
Inflation is still higher then rates over this year and the last and probably in future, so BTC is easily possible to gain vs dollar ie. higher prices are possible over time.

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Quote from: wmaurik on July 28, 2023, 07:26:01 AM

Quote from: bots1 on July 27, 2023, 04:01:52 AM

I think lately the bitcoin market is getting better where now the bitcoin price is back above $30k after being stuck in the $25k-$26k area a few month ago. It looks like the current price hike will continue. So, let's see if the current price hike will continue to at least $40k or if it goes back down significantly.

Now we are at the end of July where the Bitcoin price is still stuck in the $29K area and it looks like that is the price Bitcoin will end this month. If you are expecting a price of $40K, I think you need to see how Bitcoin will move in the next month so that everyone can make more informed predictions, especially for $40K because I still don't think that a price of that size will be seen next month. Especially at the end of this month Bitcoin is still stuck in the $29K area.

I don't see $40k is impossible unless if he says this month. But granting that he is expecting this year, I guess that is really achievable.
Yes, we saw that we are stuck to the $29k - $30k level but this meant that we can never see any improvement in the coming days because I know there will be changes. As the halving comes closer, the more I believe that prices will improve due to the surge in demand. In fact, this is what we experience in the past halving which is why I have the guts to say that reaching $40k is likely possible to happen this year.

wmaurik

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Quote from: bots1 on July 27, 2023, 04:01:52 AM

I think lately the bitcoin market is getting better where now the bitcoin price is back above $30k after being stuck in the $25k-$26k area a few month ago. It looks like the current price hike will continue. So, let's see if the current price hike will continue to at least $40k or if it goes back down significantly.

Now we are at the end of July where the Bitcoin price is still stuck in the $29K area and it looks like that is the price Bitcoin will end this month. If you are expecting a price of $40K, I think you need to see how Bitcoin will move in the next month so that everyone can make more informed predictions, especially for $40K because I still don't think that a price of that size will be seen next month. Especially at the end of this month Bitcoin is still stuck in the $29K area.

Fatunad

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Quote from: savetheFORUM on July 27, 2023, 09:22:09 AM

Quote from: CarnagexD on July 26, 2023, 11:38:33 AM

Quote from: Jating on July 22, 2023, 03:14:41 PM

And I don't also think that there will be improvement for bitcoin. I mean they could if the devs wanted to. But bitcoin has changed a lot as you have said, fees are higher but the price is also going up most of the time.

As for the the so called "functionality", it's now more of a Store of Value (SoV), people making money, it's becoming a investment vehicle for the majority of us instead of what is it designed for in the beginning as P2P system. So it has evolved in the last 10 years and I think it will, in the next decade.

It is changing depending on how the majority of people are using it. Using BTC as a currency is of course costly because of the fees and exchange rate, that is also why altcoins are being used instead. So even that BTC is not use directly for consumers, it stills functions and circulates, farmed, and mined the way it is supposed to be. Just like how it is compared to Gold back then, most financial institution see it as investment vehicle well because there is no other asset class more volatile than BTC.

I don't think that people, anywhere in the world, are using altcoins as a currency for payments but instead, if there are stores that are accepting cryptocurrencies as payment then they are accepting just Bitcoin, maybe some are also accepting Ethereum but there aren't a lot of places like that, so whenever a cryptocurrency is thought to be used as a currency or payment method, it has always been Bitcoin in the past and it will be in the future as well.

As far as investments are concerned, I don't see anything bad in that, if people take Bitcoin as an investment asset and investing in it for get profit can benefit Bitcoin and make it reach new heights and places, we should be happy about that, Bitcoin has become significant only because of that and it will grow even more just because of it.

No matter or which coin we are talking whether Bitcoin or some top altcoins in the market, they would really be just remaining to be an alternative nothingless and there's no way that it would really be able to replace fiat

no matter what.This is why its not really that wrong on having that kind of positivity but lets be realistic that crypto would really be just ending up on being alternative to fiat but doesnt mean that it wont really be
having the potential on making a huge part or success on this space in together with fiat. Now in speaking about choices then why would really be needing to choose if we could really be able to have both?
Improving in terms of recognition and demand then we are really heading there.It is really just that there's a specific time for everything.We cant really be able to experience on what we are
having in mind.Everything would go into process.

As long there's people or community who would mainly supporting it whether Bitcoin or other coins then value isnt something that would deplete out and would really be that
still valuable.

imamusma

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Quote from: Aanuoluwatofunmi on July 27, 2023, 08:08:13 AM

https://twitter.com/BitcoinMagazine/status/1682811495174791171?t=Z8An-clYzQsylMfkJj-kGg&s=19

Of all assets bitcoin is my choice, we could see this a common decision because people realize that bitcoin has the best key solution they needed to have a financial freedom with how they run their daily lives and economy, there are numerous opportunities that comes along with bitcoin adoption and those already into bitcoin couldn't keep the silence than to encourage others to take the same financial route to liberty and profitability, the next experience with next year halving is going to be another mind blowing rise that will make more people to invest.

Between financial freedom and increased financial status is completely different. On average, those who choose the second point as the reason for choosing bitcoin, but few people choose the first point and use it.

I think the average lower middle class investors are those who don't use bitcoins as a means of payment, but they only use bitcoins to improve their financial status in the long term. Bitcoin is an investment asset for them, not money or a means of payment that is used every day as a substitute for fiat. But most big investors also have the same plan instead of leveraging bitcoin technology and decentralization to pay for things. They chose bitcoin as a store of value, a long-term investment that could potentially earn them returns.

savetheFORUM

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Quote from: CarnagexD on July 26, 2023, 11:38:33 AM

Quote from: Jating on July 22, 2023, 03:14:41 PM

And I don't also think that there will be improvement for bitcoin. I mean they could if the devs wanted to. But bitcoin has changed a lot as you have said, fees are higher but the price is also going up most of the time.

As for the the so called "functionality", it's now more of a Store of Value (SoV), people making money, it's becoming a investment vehicle for the majority of us instead of what is it designed for in the beginning as P2P system. So it has evolved in the last 10 years and I think it will, in the next decade.

It is changing depending on how the majority of people are using it. Using BTC as a currency is of course costly because of the fees and exchange rate, that is also why altcoins are being used instead. So even that BTC is not use directly for consumers, it stills functions and circulates, farmed, and mined the way it is supposed to be. Just like how it is compared to Gold back then, most financial institution see it as investment vehicle well because there is no other asset class more volatile than BTC.

I don't think that people, anywhere in the world, are using altcoins as a currency for payments but instead, if there are stores that are accepting cryptocurrencies as payment then they are accepting just Bitcoin, maybe some are also accepting Ethereum but there aren't a lot of places like that, so whenever a cryptocurrency is thought to be used as a currency or payment method, it has always been Bitcoin in the past and it will be in the future as well.

As far as investments are concerned, I don't see anything bad in that, if people take Bitcoin as an investment asset and investing in it for get profit can benefit Bitcoin and make it reach new heights and places, we should be happy about that, Bitcoin has become significant only because of that and it will grow even more just because of it.

Aanuoluwatofunmi

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https://twitter.com/BitcoinMagazine/status/1682811495174791171?t=Z8An-clYzQsylMfkJj-kGg&s=19

Of all assets bitcoin is my choice, we could see this a common decision because people realize that bitcoin has the best key solution they needed to have a financial freedom with how they run their daily lives and economy, there are numerous opportunities that comes along with bitcoin adoption and those already into bitcoin couldn't keep the silence than to encourage others to take the same financial route to liberty and profitability, the next experience with next year halving is going to be another mind blowing rise that will make more people to invest.

Gladitorcomeback

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Quote from: bots1 on July 27, 2023, 04:01:52 AM

I think lately the bitcoin market is getting better where now the bitcoin price is back above $30k after being stuck in the $25k-$26k area a few month ago. It looks like the current price hike will continue. So, let's see if the current price hike will continue to at least $40k or if it goes back down significantly.

Bitcoin has been trading at the same spot for a few days at the current price. After crossing $31k, everyone thought that bitcoin will touch $40k, but coming back to 29000 is not a good sign. In my opinion, the price of Bitcoin is more likely to decrease than to increase. Some people also think that Bitcoin can touch $20k once again,but the price is likely to fall to $24k. However, this is the cryptocurrency market, anything can happen at any time.I think we should wait a bit if the price of Bitcoin falls, then another entry opportunity can be found.

One big news can change the market sentiment. ETF approvals is likely to be hear very soon and this news will increase the greed index and then we would expect 40k$ above because many banks and other ETF will also try launch btc ETF but for now i think btc will down little to 24k-25k.

bots1

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I think lately the bitcoin market is getting better where now the bitcoin price is back above $30k after being stuck in the $25k-$26k area a few month ago. It looks like the current price hike will continue. So, let's see if the current price hike will continue to at least $40k or if it goes back down significantly.

ShowOff

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Quote from: AnonBitCoiner on July 26, 2023, 02:43:55 PM

During halving if one buy bitcoin then he will be a foolish person because halving is a period to sell bitcoin to get the advantage of higher cost. Let's buy this time and wait for halving so if you have buy at 30k$ then surely your profit will be doubled next year.

Yes, it seems like nonsense if you generalize everyone being stupid. How can you say someone would be stupid if they bought at halving while the price of bitcoin may still be lower than the previous ATH? Do you believe bitcoin will be worth over $70k after a few days or weeks after the halving, or will it take more than 1 year to reach its new ATH?

Bitcoin will get higher gradually and not immediately after the halving. It took months to get higher and higher prices, so the increase was not instantaneous. Buying during halvings can be good if your analysis indicates a higher price potential, but you may not be advised to buy around the ATH especially after price has touched 4x the previous ATH.

AnonBitCoiner

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Quote from: uswa56 on July 13, 2023, 02:55:57 AM

No one really knows for sure but everyone has their own beliefs as to what happened and of course it will be different, there's nothing wrong with that.
Personally I agree with you and there's even a bit of hope that something like that will happen so I can get in on the party at the next halving that's going to happen.

People who have already some bitcoin are lucky because nowadays price has no surety that what will be next whether there will be increase or decrease at other moment. Bitcoin touched the value of 31k$ but now its again 29k$ so it will be better for those who don't have yet get it to buy it.

During halving if one buy bitcoin then he will be a foolish person because halving is a period to sell bitcoin to get the advantage of higher cost. Let's buy this time and wait for halving so if you have buy at 30k$ then surely your profit will be doubled next year.

imamusma

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Quote from: wmaurik on July 26, 2023, 01:44:53 PM

Quote from: Mario Yamasaki on July 22, 2023, 01:53:19 AM

The thing that makes us not panic and is optimistic about holding longer is the potential for price increases that could occur, as we know that the number of users continues to increase so that demand also continues to increase, this will have a positive impact on prices because they will automatically increase.

Are you still going to remain optimistic to hold longer when there is a price reduction that occurs in the near future? Because increases and decreases in prices are things that can occur based on different impacts that can both affect prices in the market.

This means you also don't have to panic and have to remain optimistic for the long term when you see a decrease in prices in the market, because some people only feel optimistic when they see an increase in prices. But when he saw price declines starting to occur again in the market, the sense of optimism that he once had to hold on for a long time also started to disappear.

I can't completely disprove your last assumption, I agree with that. Price movements that occur in the market can make shareholders worry, especially if the trend turns very bearish. Accumulation can be done, but they have to feel a lot of discomfort about the changing trends. Some adjustments may be made, even some of them have to sell because they can't bear the losses that are getting deeper.

But if they have time to think 2x more, then by refraining from selling will make them avoid losses. They are still holding coins and they will still have a chance to get a return if they are really patient, while accumulating. Long-term returns are far more important to holders than taking profit of a few percent price volatility.

wmaurik

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Quote from: Mario Yamasaki on July 22, 2023, 01:53:19 AM

The thing that makes us not panic and is optimistic about holding longer is the potential for price increases that could occur, as we know that the number of users continues to increase so that demand also continues to increase, this will have a positive impact on prices because they will automatically increase.

Are you still going to remain optimistic to hold longer when there is a price reduction that occurs in the near future? Because increases and decreases in prices are things that can occur based on different impacts that can both affect prices in the market.

This means you also don't have to panic and have to remain optimistic for the long term when you see a decrease in prices in the market, because some people only feel optimistic when they see an increase in prices. But when he saw price declines starting to occur again in the market, the sense of optimism that he once had to hold on for a long time also started to disappear.

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Quote from: Jating on July 22, 2023, 03:14:41 PM

Quote from: OgNasty on July 22, 2023, 02:51:15 PM

It is very interesting to me when people link Bitcoin’s price with improvement of its functionality. In reality, the cost of transactions is way up from free when I started using BTC, there are significantly less options for use cases as regulators have cracked down on developers, and a majority of people think BTC is a store of value instead of a p2p payment network. Improvement? Only if you’re trying to play the greater fool game.

And I don't also think that there will be improvement for bitcoin. I mean they could if the devs wanted to. But bitcoin has changed a lot as you have said, fees are higher but the price is also going up most of the time.

As for the the so called "functionality", it's now more of a Store of Value (SoV), people making money, it's becoming a investment vehicle for the majority of us instead of what is it designed for in the beginning as P2P system. So it has evolved in the last 10 years and I think it will, in the next decade.

It is changing depending on how the majority of people are using it. Using BTC as a currency is of course costly because of the fees and exchange rate, that is also why altcoins are being used instead. So even that BTC is not use directly for consumers, it stills functions and circulates, farmed, and mined the way it is supposed to be. Just like how it is compared to Gold back then, most financial institution see it as investment vehicle well because there is no other asset class more volatile than BTC.

Jating

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Quote from: OgNasty on July 22, 2023, 02:51:15 PM

It is very interesting to me when people link Bitcoin’s price with improvement of its functionality. In reality, the cost of transactions is way up from free when I started using BTC, there are significantly less options for use cases as regulators have cracked down on developers, and a majority of people think BTC is a store of value instead of a p2p payment network. Improvement? Only if you’re trying to play the greater fool game.

And I don't also think that there will be improvement for bitcoin. I mean they could if the devs wanted to. But bitcoin has changed a lot as you have said, fees are higher but the price is also going up most of the time.

As for the the so called "functionality", it's now more of a Store of Value (SoV), people making money, it's becoming a investment vehicle for the majority of us instead of what is it designed for in the beginning as P2P system. So it has evolved in the last 10 years and I think it will, in the next decade.

OgNasty

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It is very interesting to me when people link Bitcoin’s price with improvement of its functionality. In reality, the cost of transactions is way up from free when I started using BTC, there are significantly less options for use cases as regulators have cracked down on developers, and a majority of people think BTC is a store of value instead of a p2p payment network. Improvement? Only if you’re trying to play the greater fool game.

Dave1

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Quote from: Joshapat on July 21, 2023, 11:53:30 PM

There is a lot of speculation about the future of bitcoin, many predict that if bitcoin can last for at least another 10 years it will become an international currency and of course it is very expensive, many people have succeeded and become new rich people because of bitcoin and in my opinion short-term conditions will be difficult to rise because global economic conditions are in recession.

Lol, did you know that the technically, the last bitcoin will be mined around 2140. But in a hind sight, in the next couple of halvings we might see that almost all bitcoin will be mined or at least 99% of it.

So it will grow in the future. But for the current cycle, the next bull run is supposedly, 2024-2025, so that's just months from now. And then we have the halving early next year, the catalyst for a bull run. So regardless if there is recession, I think the bull run can't be stop and it could be one of the biggest.

Mario Yamasaki

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The thing that makes us not panic and is optimistic about holding longer is the potential for price increases that could occur, as we know that the number of users continues to increase so that demand also continues to increase, this will have a positive impact on prices because they will automatically increase.

Joshapat

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There is a lot of speculation about the future of bitcoin, many predict that if bitcoin can last for at least another 10 years it will become an international currency and of course it is very expensive, many people have succeeded and become new rich people because of bitcoin and in my opinion short-term conditions will be difficult to rise because global economic conditions are in recession.

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