Bitcoin's value after being more recognized and accepted globally.

CTRLX

hero member

Activity: 910

Merit: 503

Quote from: adzino on April 26, 2019, 05:43:50 PM

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.

But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

If you look at the price chart carefully, you will see that the price of bitcoin was increasing very abnormally. That kind of rise is never healthy for the bitcoin economy. The price needed correction and then we got it. .
Yeah, the more the coin is being accepted the better the price will be.

True words. That kind of extremely fast rise is not healthy for the market at all. Everyday the amount of the people who involve with the Bitcoin is increasing. Some governments and some big companies also getting more friendly with the idea of Bitcoin use. It’s highly possible this kind of improvements will impact bitcoin price in a good way.

Pakar11220

full member

Activity: 177

Merit: 100

Right, its true that bitcoin value is more recognized and also started accepted globally but still there are various problems which faces bitcoin promotion due to which price was dropped more from the price of 2017. But now again bitcoin is slowly resolving all issues with time and recovering his value again as we can see price of bitcoin today plus bitcoin famous status is again got increasing graph and hope this time bitcoin will not go easily down.

Mike Mayor

hero member

Activity: 966

Merit: 535

People only want to adopt when something is doing well. During rallies, everyone wants bitcoin even those with little understanding. They don't see it's value as a currency and I think that kind of thinking is similiar to the mindset of someone only interest to make quick money which is not how it works. Patience is the key and belief. Believers will be paid off. Believers are enjoying using and spending bitcoin all the time I think it was mostly new adopters and none crypto people quickly buying and selling, never actually seeing it work as it is ment they miss the whole point of it.

hahahafr

hero member

Activity: 938

Merit: 501

The mass adoption of cryptocurrencies has little or no influence over the price of bitcoin. Bitcoin as like any cryptocurrency is volatile and so you don't expect its price to stay all the same every time. My concern is really how the bitcoin network can really sustain the increased number of transactions that would be broadcast unto the network for confirmation.

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

-----
But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

The decreased was caused by big whales in the market who hold much of Bitcoin and where able to control the market at that time. Backed in 2017, there was adoption of Bitcoin among countries which also spike off more awareness among investors, the sudden dropped was caused by these whales to gain more profits in return. The current market movement is the best, slow but steady.

b3llsf1l3s

member

Activity: 616

Merit: 12

Send&Receive Money Instantly, w/ no hidden costs

Quote from: TalkStar on April 26, 2019, 05:54:58 PM

Most of us believe that the reason behind bitcoin price dumping in 2017 was only whale game but personally i will not put all to them. There was some negative news effect where bitcoin holder got panicked and as result they fear to hold that. Wherever in recent time bitcoin has already showed us a positive turnover and good time will shake worldwide crypto holders hand soon.

Well i'm agreed for not place whole of assets into one basket. That is a mistake that is often made especially by novice traders. Besides that, FOMO is actually more dangerous than those who sell cheaper when the market is bearish. I started from 2017, then now realize that trading in bitcoin and alts only requires the right entry.

Rufsilf

sr. member

Activity: 1778

Merit: 309

Quote from: FlightyPouch on June 30, 2019, 09:22:58 AM

Quote from: pey on May 01, 2019, 01:10:21 PM

If bitcoin will be globally recognized it will blast off. I mean it is already recognized in terms of regulations but if it will be considered as a currency then even $100.000 would be low price.

It is already recognized globally, it is just that there are some people that don't really know about it especially to third world countries. Recognizing it is not enough, people should use it in order for the price to increase. Many user means there is higher demand, and the higher the demand, the higher the price and that is when we should talk about $100K being a cheap price for it.

Right, we can say that a lot have recognized bitcoin maybe through websites or search engines but not all people who recognized bitcoin will use it hence no effect in the price. Some people even look at bitcoin as a scam, however the world is changing and I know few third world countries who are catching up in the adoption of bitcoin.

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Quote from: pey on May 01, 2019, 01:10:21 PM

If bitcoin will be globally recognized it will blast off. I mean it is already recognized in terms of regulations but if it will be considered as a currency then even $100.000 would be low price.

It is already recognized globally, it is just that there are some people that don't really know about it especially to third world countries. Recognizing it is not enough, people should use it in order for the price to increase. Many user means there is higher demand, and the higher the demand, the higher the price and that is when we should talk about $100K being a cheap price for it.

Nnuego

jr. member

Activity: 266

Merit: 4

The whales involvement is really playing a big roll in bitcoin price. They manipulate it the way the want to earns profit. They don't care whether countries adopt it or not,they are their gains. Albeit bitcoin is a profitable asset but that's not the major reason behind it's creation. Its been created as digital currency that can used globally. That's why we want the adoption of it

morrisgonzalez

jr. member

Activity: 98

Merit: 1

Bitcoin prices have increased after being recognized and accepted worldwide. Bitcoin gradually getting acquainted with different organizations. Now many people accept Bitcoin as a payment, many popular individuals are now accepting Bitcoin. Because of its popularity and acceptance of Bitcoin, Bitcoin is increasing its value and its effect is increasing.

DreamStage

sr. member

Activity: 625

Merit: 258

Quote from: ?? on ??

I don't really believe that pump happened all by itself. Someone must have been behind that activity. As you indicated, btc is being admitted slowly but at least it's still there, paving its way.

Of course it didn't happend by himself... How could the price change without any external human activity lul?
Or someone invested many dollars as an individual buyer or a group of individuals pumped some money into.
That would be the reason for the bigger price value.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.

But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

I had that same question a year ago, when I only followed tips from youtubers and influencers, and almost fell into the error of paying academies to teach trading, the reason is simple, it is simply that the speculative market always obeys the Supply-Demand , and that in the structure of an action or Currency in our case, such as Bitcoin, it complies with the structure shown by Richard Wyckoff, which basically derives it from: Accumulation Stage and Distribution Stage, where the accumulation stage consists of accumulate as much as possible of bitcoin currency, so much that it eliminates the offer, and at this stage is where you buy much cheaper.

And the stage of the Distribution is when it arrives at its ATH and it is where it must be sold, it is the ideal stage because it is the maximum price that determines the market to do it, this happens obviously it is sold expensive while others buy and the sales are massive , this causes the price to go down and fall, it is simply a pattern that always repeats itself. That's why we went from 20k to 3k, 4k, 5k, 6k ...

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: faceoff97 on April 26, 2019, 05:29:30 PM

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.

But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

The sudden pump in value last 2017 might be just being manipulated by whales. There is no denying that Bitcoin could not be totally controlled by anyone but it could be manipulated for short term effect in price. The price is dependent on the supply and demand, that is why people who has large volume could even make large demand and then suddenly withdraw it causing sudden dump.

I think manipulation might also play at that time, but I think that weaker prices due to correction and panic selling are happening, imagine that the price of bitcoin is going up tens of times certainly makes anyone want to sell it and become a millionaire. and we know too much supply and too much sell will make prices fall, and thats what happen

Crypto24hrs

jr. member

Activity: 462

Merit: 1

Looking back, a big move was overdue, as bitcoin’s average daily trading range had slipped to two-year lows and An extended period of low volatility often ends up with a violent move on either side. This could have resulted to the sudden decline in price.

DreamStage

sr. member

Activity: 625

Merit: 258

You should understand how market price works....

You can take my topic as a good lecture on why the price drops even when there are alot of new investors buying big amounts:
https://bitcointalksearch.org/topic/m.50767796

Im sure this will help you out.

pey

sr. member

Activity: 546

Merit: 251

Free Crypto in Stake.com Telegram t.me/StakeCasino

If bitcoin will be globally recognized it will blast off. I mean it is already recognized in terms of regulations but if it will be considered as a currency then even $100.000 would be low price.

bhabygrim

sr. member

Activity: 994

Merit: 257

Best Bitcoin Casino www.coinsaga.com

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.

But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

For me it drops down because the investors at 2017 was too greedy and some of them aren't really ready for crypto .
They just force their self in to gain profit and I think most of them just want an easy money and that is the reason why it crash down again most of them get what they wanted and get out after that.

pushups44

sr. member

Activity: 854

Merit: 281

Quote from: otandelapaz on April 26, 2019, 05:02:49 PM

Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.

But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?

Bitcoin's value has declined since 2017 because it was a classic bubble scenario based on hype. Retail investors allowed greed and emotions to dictate their investments, which pushed bitcoin to unsupportable levels. Even though the fundamentals have improved, we are still recovering from the damaged psychology of the market collapse.

The Cryptovator

legendary

Activity: 2408

Merit: 2226

Signature space for rent

Why not? Since whole world going onward of digitalisation then why currency should stay back? Slowly all over world will accept crypto-currency once a days when they will understand the value of crypto-currency. Proper knowledge is keeping more important role for recognition and acceptance. Day by day more people's are involving with crypto-currency and spreading knowledge, and it should continue ever. We know know use of blockchain technology. So that institutes and governments would think again and again for accept bitcoin.

Jeborn

jr. member

Activity: 136

Merit: 1

I really don't believe the current price of Bitcoin is low presently. Since bitcoin was introduced to this date the growth has been massive judging by the 20k USD bubble of 2017 is a little bit not fair to how far the price of bitcoin has come. Yes adoption has increased but what is healthy for bitcoin and other alts is a steady growth not massive pump under short period of time.

Topic: Bitcoin's value after being more recognized and accepted globally. (Read 705 times)