Topic: Bitcoin is performing just fine currently (Read 870 times)

Bitcoin is still currently fine, what we are seeing today is just part of its price correction and once it's over, we will witness a good price again eventually. However, not everyone has the same mindset. Some might panic with this current price decline, but others remain calm and still hopeful. But in general, I believe bitcoin is still doing good, regardless of how its price is experiencing a current decline these days.

Bitcoin rapid downward trend seems to indicate that Bitcoin is in a deep correction mode and there are even rumors that it will go further down.  Many analysts believe that the next target could be $40000.  Right now there is a lot of anxiety in the market.  Some experts are saying that this is only a temporary dip, which will help stabilize the market.  But on the other hand, some fear that this correction shows a long term bearish trend.  In such circumstances, both making new investments and holding are challenging.

Many people seem to be quite naive and still give high expectations of the Halving that can make bitcoin shoot to a higher price but they are not aware of the volatility that is owned especially with the previous rapid rise of bitcoin from the price of $15k to the price of $71k it is clear that there must be a correction first to make them resume their rally.

Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views

Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?

I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.

In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.

Many people seem to be quite naive and still give high expectations of the Halving that can make bitcoin shoot to a higher price but they are not aware of the volatility that is owned especially with the previous rapid rise of bitcoin from the price of $15k to the price of $71k it is clear that there must be a correction first to make them resume their rally.

But in the end many of us hope that bitcoin continues to accelerate to a higher price so we don't want to accept and always panic when bitcoin is at a price that shows a temporary decline. As you said in your title, currently bitcoin is fine, there is no need to worry about anything for now because we are still in a comfortable zone and we only need to enjoy the process so that when we reach the finish line we can feel the sweet taste of the process we are doing.

I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.

In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.

Yes. The price from one year ago doesn't matter for someone who started buying few months ago. If he bought BTC for 60,000$, he will want to see it at 70,000$ or 80,000$, so he can call it a profit. Also, even for early investors it's annoying to see Bitcoin returning to previous price marks, because time is money, and the longer they hold, it means less time they are going to have to do what they would like with the money. If you hold for few years, you surely will want to see according profit after that time period, otherwise the investment won't be considered profitable or worthful.

Before deciding to invest in Bitcoin which has high volatility, it is very important for us to have a good plan for the investment that will be carried out, because without having a strategy and good planning, of course it will be difficult for us to make a decision to invest and it could also be that when when we invest when the market is experiencing an increase of course we have to wait longer to be able to make a profit and when we make a mistake like this of course we cannot blame the situation and it is purely our own fault in deciding to invest.

As you said is very correct, when the investment we make is not in accordance with what we expected of course we have to re-evaluate the strategy we used and go back to correct the mistake and try again after we feel ready and we have to do our best and don't blame other things for the failures we experience.

I got to know about Bitcoin since 2015, and started investing the same year. From then till now is a huge difference. But the thing is, every year there are people who are buying at the new price, or maybe old investors who have withdrawn profit and are starting all over again, they will always have a high expectation of price for Bitcoin, because they all want to make profit from their current investment, that's why you will always see people complain about the price.

Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views

Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?

I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.

In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.

In short, bitcoin is a financial market and volatility is inevitable. Whether we make a profit or a loss will depend entirely on our strategy and planning, we can't blame bitcoin or the market when things don't go as we expected. 

If our investment is not as expected, we should take the time to review things and change our strategy accordingly instead of criticizing that bitcoin is not performing well and blaming it.

No one wants a bear market but that is also part of this game, we should find ways to adapt to it rather than blame.

Yes, most of the people have invested in Bitcoin for a long time, and they hold it only for the purpose of making money. People have invested with the plan to get rich by earning money from Bitcoin, many also invest by taking loans, but I think it is better not to do that but investing with your own savings is the best. I think people who invest in Bitcoin blame it on this, it's probably the work of a new user looking for a get-rich-quick scheme. People who invest in bitcoin and think that bitcoin is not good, maybe they did not earn profit by investing, maybe they failed in investment. But they may not have in mind that they have to hold for a long time by investing in Bitcoin, but they have to hold it patiently only then it is possible to make money. We all know how good Bitcoin is, and we have a lot of guesses about its future, but those who are ignorant are the only ones who talk negatively about Bitcoin.

Not only newbies, but some investors have been in the market for a long time and invest with borrowed money, money that cannot be lost, or investors who are all-in and want to get rich quickly. They all complain and say that bitcoin is under performed, and even blame bitcoin. From their perspective, bitcoin is underperformed because it is not meeting their expectations, but to be fair, they are the ones who are not performing well. Because they don't have an effective investment plan as well as if they calm down and ask why there are so many people who are very happy with what's going on but they can't. Obviously, those who say bitcoin is not doing well are people who have failed with their investment strategy because bitcoin is much better than they thought.

Those kind of people will most likely lose most of their money at some point during their journey, and that is because they hold the mistaken thought that it is the market that needs to adjust to their desires, when the reality is that it is the investor that needs to adjust, as we do not know exactly what the market may do at any given time, eventually some of those investors may learn their lesson before it is too late, but the majority wont and it is a shame, since they could have saved themselves a lot of money by simply holding to correct understanding out of this market.

Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views

Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?

I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.

In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.

Not only newbies, but some investors have been in the market for a long time and invest with borrowed money, money that cannot be lost, or investors who are all-in and want to get rich quickly. They all complain and say that bitcoin is under performed, and even blame bitcoin. From their perspective, bitcoin is underperformed because it is not meeting their expectations, but to be fair, they are the ones who are not performing well. Because they don't have an effective investment plan as well as if they calm down and ask why there are so many people who are very happy with what's going on but they can't. Obviously, those who say bitcoin is not doing well are people who have failed with their investment strategy because bitcoin is much better than they thought.

There are a few points I'd like to make here.
First, there is of course a lot of greed when it comes to investment, including Bitcoin investment. People want more profit and can't seem to get enough even when things are going well, as they've been for Bitcoin at least since March.
However, my second point is that it's true that the price a year ago was half of what it is now, but it doesn't show the full picture. The price was also a bit higher in November 2021, which was a little more than 2.5 years ago, and it was almost the same in April 2021, which was more than 3 years ago. So there is reasonable concern regarding long-term investment if the price was the same 3 years ago and Bitcoin doesn't seem to be able to grow significantly beyond that.