Topic: Bitcoin will NEVER reach it's ATH anymore. - page 6. (Read 970 times)

Investing in bitcoin is a big risk, so you can't really expect the price of bitcoin to reach ATH.

It might probably be going to take a long time before it reaches ATH and almost all of the investor of bitcoin doesn't really have an idea if it's going to happen so they are risking their money investing in bitcoin.

Still, a lot of investors are making a lot of profit because of the volatility of the market price you just need to believe in it and invest.

I fully agree with everything you said, it's true, bitcoin is not a ponzi scheme and now the train has gone by to get rich. The basic problem is how many people reveal bitcoin as a means of getting rich fast, it's the wrong publicity that many people do about bitcoin that is wrong, instead of explaining the benefits it can bring once mass adoption uses btc as form of payment and not just looking at the value of btc

It's not that simple op. Majority of the cryptocurrency investors invest primarily viewing BTC and other crypto as assets which is why they care a lot about the price in both the short term and the long term and this is why ATH matters a lot to them.

The minority invest in crypto viewing it as digital money and don't really care about the price or ATH which is the big issue here. The roles need to be reversed for your statement to be heard op.

However, such a reversal depends on many factors like volatility, TX fees, TX time, government bans etc. Personally, I think such a reversal will definitely happen, but it will take several more years.

The problem here is, you don't get the basic algorithm here. Those who expect returns are investors, but the ones who expect quick returns are traders. Traders are the ones who want to get rich quick with BTC, investors hodl their investment for a long time and when they're in for a long time, how can you compare them to traders? Another thing, there are many enthusiasts who love to learn the technology behind and even try to give their contribution towards making Bitcoin more stronger as well as secure, but answer me just one thing, if you've done LLB and I'm an MBBS degree holder, who'll be called a lawyer here? So, it's truly impossible for a few to enter the whole technical aspects of BTC which is why speculation is there to let them stick to it that way.

When i will invest my millions of billions of dollars, we will see.

Much seriously, it can reach the ATH easily, some people just don't want to see it right now and the reason is obvious.

Just watch how BTC progress. You can't just say to people that bitcoin should be treated "like that, that and that." Let them think the way they want.

Look at how far BTC evolves today. No doubt the adoption increase and those people who think bitcoin as a scam before changed their view about it.


Prediction and speculation is common and usual since BTC's inception.

It's up to you how will you approach it. Just don't be serious about it. You are free to ignore those.

From the point of view of market speculation and investment, it is totally valid that there are news, speculations with the price, because that is what it is about, Bitcoin has a very broad market with a large capitalization, there is FOMO, there are those who make false advertising, There are those who are enemies of Bitcoin, but this is the market.

A lot of news, fundamentals, bullish traps, bearish traps, this is so, this is how it happens in the Stock Market, in every speculative market it will always be like this.

On many occasions the same whales can generate all that environment as a strategy, they are things that cannot be prevented, the speculative market is riddled with all kinds of strategy in order to win-win.

Everything you pointed out is correct, a lot of people are indeed in this space without even knowing the concept and vision behind blockchain and bitcoin, all they know bitcoin to be is an asset that has the tendency to increase in price overnight which is not entirely true. Bitcoin as a digital asset was created to provide a decentralized currency that gives everyone freedom over their financial activities, and until the entire crypto community is able to push that agender only then we might see the mass adoption we are pushing for

Is it a bad practice to speculate, i do not think so, you cannot expect the bitcoin market to be like the stock market but it is exactly like the forex market, the more demand the price moves higher and speculation is one aspect of these rallies.

No one consider bitcoin as ponzi and you can link both of these together. Giving higher benefit in a short period is not a wrong thing, every market in the initial phase will give a much bigger profit and bitcoin is a new market and anyone who invested in the beginning made a fortune.

If not for the speculation, you cannot call bitcoin to be a globally adoptable coin since we are far away from mass adoption because of the limitations and the confirmation time for the past few days are really high, so speculation during these times are not that bad.
 

But how is your post about Bitcoin not reaching its ATH anymore any different than people posting that it will reach a million?
Except they are positively thinking and your thinking negatively?

Some things to consider here :

1. Price of Bitcoins does not determine it's popularity
-It have proven since long that it's here to stay and therefore people are now becoming serious about the way it was supposed to be used.
-freedom from centralized system , freedom from corruption is way more important than getting rich quickly or other things that people like to extend cryptocurrencies to.

2. Right now the market is flourishing and the volatility is very low , which is actually helping people during quarantine a lot , it might not be a good go for trading but it's helping people to recognize the fact that they can count on something else too.

3. I cannot stress this enough *It might and might not reach great heights , but what it's doing is way more* , when government is targeting Bitcoins they are forgetting the good it's doing for 90% of the people. They are putting heavy tax on cryptocurrencies and such which is really hard to tolerate since they actually don't have any right to discriminate against crypto Investors.
Everyones' looking to get benefited in one way or another.

4. Even though the futures expired , even though halving came and miners had to exit , even though we have numerous whale alerts , the price was more or so very stable if you look at the back logs , which means it's now getting stable and strong.

_what we need is more people to know about cryptocurrencies , their usage , their reason to exist so that they can use it for themselves in a way that would benefit them because honestly the centralized system cares about the rich only.

What I can say is that someone seeking for fast profit investing in bitcoin will have a bad experience and probably will badmouth the digital currency later. But is that actually an issue? I don't think so... That is not the kind of adopter bitcoin needs to thrive and grow on long run.
That is not the kind of adopter who is promoting bitcoin for its truly conceptions and functionalities, instead they are just promoting it for the quick rich method purpose. Price speculation also works like a *natural selection* mechanism and I think it's working very well this way.

I see that your title is misleading to what you are really trying to imply, I was hoping that there is something relevant to the ATH or personal analysis of the price. But then it was all the historic misconception about it.

THere are some things that I find a hinder to the bitcoin reaching its all time high again, one of that is the number of speculators, since we already got a bunch of people in the community there are times that the speculation is above the standard,  mass speculation always turns to opposite since every one is afraid of losing an inch of increase will be a matter of decision of the mass.

In order for btc to continue you need miners.

The definition is btc is created by conversion of power into coins.

Maintenance of miners profits is done by

gears cost
Gears watt to th ratio
Coin cost or going price
Difficulty of mining.

All of the above must be there and somewhat in balance.

They got way out of balance in dec 2017
Coin price was too high or difficulty was too low.
Or maybe both.

At the moment the balance is pretty close to correct.

So expect a large shift to toss it out of balance again.

Each time bitcoin see some pump, I see some FUDs or negativity around the forum. This has a great correlation. I wish I could put that correlation in a graph.
No one can say BTC won't have ATH again. No one could imagine BTC would hit $20000. No one will know where the limit is. BTC is limited and you know the usual supply from miners have decreased. Once, there will be a little organic buying pressure, it will certainly have an ATH.

They are free to share their opinions and speculations for the future price of bitcoin. And that's also your freedom to share with what you think about those thoughts that they have. Bitcoin as an asset doesn't break its purpose of being a digital money.

It just so happen that we see the value of it going high because of its scarcity. But with those too much high speculations, it's our call not to believe and see the obviousness that those are unreal prices.

Its true that for someone who sees speculation that BTC will go up to $1M in a year or so, they will also believe. If it comes from someone like John Mcafee who is a popular figure in the tech world, people will believe the speculation and only to find out the price dips very low that they tend to sell out of panic.

But we just can't stop people from speculating, after all, its how currencies are dealt. Even the fiat currencies are speculated in the forex market.

I mostly agree with everything you said, but why use clickbaitish topic name? Btw, there'll always be people treating Bitcoin as a get rich quick scheme

I share your opinion, not the importance of bitcoin in its access to ATH or the highest price in history, the importance of bitcoin in being an innovation that will change the face of the world through the wonderful monetary system that will eliminate the corrupt banking system.
This boom that occurred during 2017 when bitcoin reached ATH made most people only care about bitcoin price, they are not interested in bitcoin development and spread around the world which is the most important thing.
They should stop thinking about the high price of bitcoin, because this is not important, but the important thing is the spread of bitcoin around the world, the spread of a culture of decentralization, maintaining privacy and ending control and centralization.

People should have much more healthy approach to cryptocurrencies than "get rich quick" and should use bitcoin even if it was going to take 100 years to break ATH again.

Only then the whole system makes sense, otherwise, even if Bitcoin was not meant to be a Ponzi Scheme and obviously is not a Ponzi Scheme, it is actually approached by many "investors" as Ponzi Scheme and they hope to be at the bottom of it. That is simply wrong.

If different crypto news stopped speculating about the price all the time it would be beneficial for the quality of the whole crypto sphere.
If people stopped being obsessed by the price, it would be good too.

This is an honest call to everyone to start treating this great invention as it's meant to be - digital money. Including crypto news websites and youtubers who think that putting higher expected bitcoin price in the title will bring more clicks (and sadly, it usually does).

One says 1 million USD in 1 year, another says 10 million USD and so on... stop it, please. You are doing it wrong.