Topic: Do people overestimate BTC? - page 3. (Read 1261 times)

along with the development of the world, crypto is one clear proof that the world continues to develop with various sophistications or in other words the world is in hand.
crypto is known as BTC although in reality there are many others that are currently emerging. If we don't follow developments, of course we will be left behind. crypto is an intangible space and the most transparent transactions are here (crypto).

I think Bitcoin is both over and underestimated quite a bit.  I think those that dismiss it as just another fad or ponzi scheme have a good point.  It certainly meets a lot of that criteria.  I also think they miss the larger point of what Bitcoin could be.  It is a major improvement over traditional money, and is already bringing change to the world to a certain extent.  It's also overestimated by a lot of the talking heads out there.  Currently, the individual demand for Bitcoin wouldn't put it's price anywhere near what it is today.  A huge majority of those buying Bitcoin are speculators, including Microstrategy, Tesla, etc...  They aren't using their Bitcoin, they are just buying loads of it and hoping that at some point in the future there will be so few left on the market it will be worth a fortune.  This isn't really the way to change the world in my opinion and I think much of the focus on Bitcoin now is about transitioning money from one system to another and less about adoption for legitimate use cases. 

So if you think Bitcoin is what's going to free us from financial slavery, you aren't paying attention to who is buying it all.  If you think it's a ponzi scheme then you've probably missed out on life changing gains and don't understand the entire space.  The truth probably lies somewhere in the middle.

This can only be sorted out systemically, not in real terms, because the disbursement of all cryptocurrencies of course has a final option with the word Finish, which is cashed into fiat according to the currency of each country, so this is just a selection of a system that may be slightly different from that in banking.

I think it could happen this year, it could reach 100k, I remember last year when Elun Musk announced that Telsa cars could be paid for using Bitcoin, at that time the price of Bitcoin immediately rose quickly and touched a high value.
I think this method can affect the btc value.
maybe this year if there is an influential person in the world announces another crazy thing about tbc, for example with btc we can explore the sky, i am sure btc will exceed what we expect. Lol

Yes and I dont think its a big deal if people overestimate Bitcoin. Its just shows that many investors are optimistic that the price can really go that far. But because of this overestimation, we cant deny that many investors were attracted to buy more to be prepared incase. Even the target price were not reached last year there's still a future to look forward. Because this prediction for the price of Bitcoin is still possible to happen, though it might take time so just keep holding.

I believe that it is the shilling that made them believe about that estimation , right? because where they get the idea of the increasing future? isn't the shilling from the trolls of whales to make them believe and invest more?
and so when the price dumped badly they are also the one who panic sell because of no good knowledge about the market.

overestimation is like a normal scenario in this market because we saw how btc increased in the past decade. so many people are speculating that the price will grow more in the coming years. but we need to be conservative if you are seriously investing good amount of money because this market is still unpredictable.
don't invest your hard-earned savings or your last savings because that's very risky. if you badly need your funds, you may end up selling it at a loss.

The crypto crowd may have overestimated the demand for bitcoin but its because we can see that there is great potentials in bitcoin that made it to where it is right now. In fact, this overestimation has even created price predictions that are too far from the reality if we view it in the current market situation, but if we will see it from the bullish part of the market, of course the price will always be attainable. This overestimation for btc made the people more convinced that there is more to bitcoin than simply relying on fiat alone.

If people have overestimate bitcoin, then there's no wrong with it. I think we all know that bitcoin is more capable to give us higher returns than any other coins in the market. This build the trust of most investors into bitcoin because its how they are seeing bitcoin in a very practical way. Though it has its own ups and downs, but bitcoin always proves to everyone that it always recovers from all its fall backs. No wonder why Bukele insisted to adopt bitcoin despite of the negative critics he received because he never stop expecting that bitcoin will create a gigantic price increase in the next possible months.

Don't you think that this estimation has brought BTC to this level. Yes its kind of marketing. Over estimation attracts more investors into crypto industry. And often this estimation has turned real to many investors. I mean, those who invested and waited for a long, have earned much and later it has become true that investing on Bitcoin will turn out more returns. So how can we say it. Shall we say its practical rather than an estimation.

No,I dont think that bitcoin will reach $100,000 this year because we are still in the bear market territory.For the past few days,the price of bitcoin has been fluctuating which means the current market is currently unstable.And you cannot tell if it is going to drop or it is going to up.But somehow there are still many people believe that it will go very high.
Well as long as bitcoin is here, there is still a possibility to reach $100,000 anytime soon.And i believe this technology will going to change the world.

People still have their faith on bitcoin and altcoins but since its vivid that bitcoin is growing its value more than altcoins, and bitcoin has really proved it in the past years, then we cannot blame those who have high hopes that bitcoin will still come up with new ATH one of these days.

However, we cannot expect for bitcoin to always moves up because  of its volatility so there is no guaranteed price increase in a long term reversal. But as long as the market is showing positivity, bitcoin will always lead the price surge.

Mainstream people prediction is always like that, when the bull market hits hard, they started to speculate bitcoin price will go 100k 150k and so on but when it goes to bear market, people who said it before just disappear don't know where and sometimes they changed their words and said bitcoin will crash even more and they already ready for buying at deeper price.

even altcoin does not perform well mate so meaning either Bitcoin and altcoin has no chance of making insignificant increase this year.

but overestimating ? no and Not really , instead people are just truly believing of what bitcoin can bring them as trust and risk involve .

I have already stated that nothing is safer than BTC in the cryptocurrency space. so what does it mean that I have to sort between virtual space and real space.
when virtual space activities can be disbursed in fiat form, I think the two spaces have a unity that has its own role. Is not it? or is there another meaning?

Cryptocurrency space is a virtual space that cannot be compared to the real world space even though the total value of Bitcoin itself can be disbursed in the form of real fiat money, so this comparison seems like you have to sort it out first so that the discussion becomes more comfortable.

I admit that BTC is the asset with the most potential value. but BTC is not like other real assets.
when it comes to cryptocurrencies, nothing is safer than BTC, but again I say that BTC is still not the same as any other real asset.

Thats true. Dont compare yourself to other investors. If they chose to sell at loss then so be it let them be because its their choice. We have our own reasons on why we're holding or selling so its understandable that we have different decisions. What matter is your own belief, despite of the negative things they say towards Bitcoin. Its not a reason to panic because if you have knowledge on the nature of crypto (and Bitcoin specifically) then you wont question why Bitcoin is unstable and not turning upward consistently at this point.

Once bitcoin was below 10,000$ no one would would have thought that bitcoin will reach 69K. Also in last year March 2020 when due to covid crisis, bitcoin dumped to 3800$, who would have thought that bitcoin will reach above 60K in an year's time. So it does not matter if bitcoin is able to struggle at 30k or 40K, it will eventually go up.
Also bitcoin price at 40K is not an overestimation, it's in reality an underestimation. We can't even imagine the real price of bitcoin in the next decade.

The Future of BTC will be good and who choose BTC as a variety of investment assets are people who understand how the development of the economy is in the future. No one who did not feel surprised when he saw the price of coins falling down from the many of which gave predictions to soar.