Future occurrencies that can increase bitcoin price. - page 2.

Faisal2202

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Quote from: Smilevictorobinna on April 29, 2024, 07:57:18 AM

I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.

Price of BTC is mainly driven by the ratio of demand and supply, as we know it has a scarcity factor, and due to this supply is being halved every four year, and after every four years I must say adoption is 2x than before. CMIIW. It's just a prediction but I think the adoption of BTC at the moment is way more than 2x compared to what it was 4 years before.

There is much good news in the pipeline that can make BTC adoption more, for example, China can adopt crypto, and once they do, the adoption rate will spike, there are a lot of countries including mine, where citizens are using crypto and generating a lot of trading volume, and once the governments will accept the crypto or BTC the adoption will increase more, as more people who were afraid to join before now will join because government is supporting them.

Zaguru12

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Quote from: peter0425 on April 29, 2024, 02:55:02 PM

Well one would be halving obviously. It is already expected that bitcoin is going to continuously increase from here.

I wouldn’t say it is expected that each halving will increase the price, yes in the past trends after the halving the price increases but history doesn’t repeat it self always, but as long as their is growing adoption it should be increasing.

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If adopted, surely the demand for bitcoin will increase but realistically speaking that is quite yet far away.

Yes the demand or adoption will increase for bitcoin as we continue to grow basically as the fiat currency faces more inflation, many people will look for alternatives and it will drive them to bitcoin. But what OP meant by having it as a global digital currency, I don’t see that too happening because that will mean the governments have then embraced decentralization which we all know is not possible as things stands now.

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As you’ve mentioned wars can affect their nation’s currency but it can also affect bitcoin as much. If people are trying to quickly sell out bitcoin due to economical crises then everyone else may follow this reducing the price of btc.

During wars it is not even demand that causes a market price shift but also the cost of energy for mining power which is an essential component in bitcoin for mining and verification of transactions. A higher energy will result into high transaction fee I think or lower demand of bitcoin

kentrolla

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Mass adoption will indeed increase the price of Bitcoin massively but I don't think it's possible or the idea of bitcoin being the world digital currency is also not feasible, let's be more realistic if Bitcoin has to be adopted as global digital currency then it has to be accepted by all the nations but we have more nations hostile towards crypto than the crypto friendly ones hence I don't think it would work out anytime sooner.

eightdots

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Quote from: Smilevictorobinna on April 29, 2024, 07:57:18 AM

There are certain occurrences that can reduce or bring down the economy of a particular Nation there by also making there currency lose value in the world market for example war.

And there are also certain occurrences that can increase or rise the economy of a particular Nation there by also making there currency gain more value in the world market for example emergence of good and intelligent government.

Therefore I believe there are certain occurrences that will increase the price of Bitcoin to a very magnificent price.

for me adoption of Bitcoin as world digital currency.

I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.

One of the biggest contributions to the Bitcoin price may be governments accepting Bitcoin legally. The lifting of these bans by countries where Bitcoin trade is prohibited may also have a positive impact on the Bitcoin price. In fact, we can list many similar reasons, but even if these do not happen, Bitcoin will continue on its way.

Bitcoin, which has a limited supply, has always increased its price in certain cycles and will continue to do so. There may be many reasons for the price increase, but the main reason is Bitcoin itself.

peter0425

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Quote from: Smilevictorobinna on April 29, 2024, 07:57:18 AM

Therefore I believe there are certain occurrences that will increase the price of Bitcoin to a very magnificent price.

Well one would be halving obviously. It is already expected that bitcoin is going to continuously increase from here.

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for me adoption of Bitcoin as world digital currency.

If adopted, surely the demand for bitcoin will increase but realistically speaking that is quite yet far away.

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I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.

As you’ve mentioned wars can affect their nation’s currency but it can also affect bitcoin as much. If people are trying to quickly sell out bitcoin due to economical crises then everyone else may follow this reducing the price of btc.

WillyAp

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Quote from: Yatsan on April 29, 2024, 12:26:18 PM

Well most likely, big names from other industries adopting this technology, is what could increase the market price 'coz it can basically trigger a demand from non-crypto investors as well.

You are living in a dream world. Most investors do not haven a open mind, open minded people are not mainstream.
People who make money invest a little here and there, and there Bitcoin is part of their portfolio.

With all those scandals like tether, FX ,what makes you think the public forgets?

Yatsan

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Well most likely, big names from other industries adopting this technology, is what could increase the market price 'coz it can basically trigger a demand from non-crypto investors as well. However, same thing goes with the opposite. Binance as one of the biggest exchanger, is having issues at this moment regarding its accessibility in my country, which might be contributing to the current decline of not only Bitcoin but majority of crypto's market prices. Adoption of cryptocurrency is still struggling at this point which limits every uptrend.

As we can see here, there are many factors that could affect the market price of Bitcoin and that includes events inside and outside this industry, both increase and decrease to its value. But as we all know everything's temporary and volatility is a norma thing in this blockchain.

Quote from: Kelward on April 29, 2024, 11:46:47 AM

Quote from: WillyAp on April 29, 2024, 10:42:46 AM

Quote from: Kelward on April 29, 2024, 09:32:05 AM

Basically what can increase the price of Bitcoin will be mass adoption, if countries where it's restricted will remove the restrictions and also countries where it's banned will unban it, and if it's been used more as a digital cash to make payments, instead of just hodling it.

Any evidence to back that up?
So far I can see more and more people use other Crypto to pass those on.
Reason being the fee, the time bitcoin takes.

The focus of the thread is on Bitcoin, and the future occurrences that can increase it's price, and these factors above that you quote are the few that I could come up with.

Ofcourse there are alternative means of sending Bitcoin to other wallet addresses, and there are other coins that can be used alternatively when Bitcoin transaction fees is high, but the point is that the thread is specifically talking about Bitcoin and it's price increase in the future.

Well, what he said is still right; Bitcoin will be affected by this whole industry's acceptance from the world. Fees on the other hand seems to be a problem for the new ones but for those who are long enough to be in this industry, it is something expected whenever the market value of Bitcoin is increasing. As I've said nothing's permanent and there's still a possibility for transaction fees to decrease eventually.

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Quote from: Smilevictorobinna on April 29, 2024, 07:57:18 AM

for me adoption of Bitcoin as world digital currency.

This is impossible to happened since each country preferred their own currency which the can print money out of thin air. Bitcoin has limited supply and decentralized, there’s no way that the whole world will unite just to use Bitcoin as world currency while they are competing to each other to make their own fiat have more demand on international trade.

I believe hyper inflation is one of the occurrences that will make the price of Bitcoin high in terms of fiat value since fiat buying power will decrease that will reflect on Bitcoin value opposite.

Anything bad news related to fist will make Bitcoin more appreciated.

Kelward

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Quote from: WillyAp on April 29, 2024, 10:42:46 AM

Quote from: Kelward on April 29, 2024, 09:32:05 AM

Basically what can increase the price of Bitcoin will be mass adoption, if countries where it's restricted will remove the restrictions and also countries where it's banned will unban it, and if it's been used more as a digital cash to make payments, instead of just hodling it.

Any evidence to back that up?
So far I can see more and more people use other Crypto to pass those on.
Reason being the fee, the time bitcoin takes.

The focus of the thread is on Bitcoin, and the future occurrences that can increase it's price, and these factors above that you quote are the few that I could come up with.

Ofcourse there are alternative means of sending Bitcoin to other wallet addresses, and there are other coins that can be used alternatively when Bitcoin transaction fees is high, but the point is that the thread is specifically talking about Bitcoin and it's price increase in the future.

Razmirraz

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People in the past who have owned Bitcoin and then sold it for whatever reason will certainly be surprised by the current growth in Bitcoin value. Bitcoin has gone through various obstacles since it was introduced to the public until now, but nothing can stop Bitcoin's movement from breaking the previous ATH.

Events that can move the economy in a country are limited to events that are felt by only a few or people who have wealth above the average in that country. For people whose economic level has to fight alone to improve the economy amidst the downturn in the financial system in their country, Bitcoin is a very good way out to improve finances in the future. These events are only related and do not have a close relationship with the growth of Bitcoin prices because one of the reasons that can move Bitcoin prices is supply and demand.

WillyAp

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Quote from: Kelward on April 29, 2024, 09:32:05 AM

Basically what can increase the price of Bitcoin will be mass adoption, if countries where it's restricted will remove the restrictions and also countries where it's banned will unban it, and if it's been used more as a digital cash to make payments, instead of just hodling it.

Any evidence to back that up?
So far I can see more and more people use other Crypto to pass those on.
Reason being the fee, the time bitcoin takes.

avikz

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Quote from: Smilevictorobinna on April 29, 2024, 07:57:18 AM

There are certain occurrences that can reduce or bring down the economy of a particular Nation there by also making there currency lose value in the world market for example war.

And there are also certain occurrences that can increase or rise the economy of a particular Nation there by also making there currency gain more value in the world market for example emergence of good and intelligent government.

Therefore I believe there are certain occurrences that will increase the price of Bitcoin to a very magnificent price.

for me adoption of Bitcoin as world digital currency.

I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.

You probably do not understand the scale of global economy, that's why you are doing about Bitcoin becoming world digital currency. The network will explode if Bitcoin is accepted globally by the governments. You will pay huge transaction fees and your transactions will be stuck in the network for hours.

Please understand, Bitcoin is not here to become the global currency. Adoption is good but the Bitcoin network also needs to scale up in order to accommodate the increasing number of transactions. Otherwise nothing great will happen with Bitcoin.

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Quote from: WillyAp on April 29, 2024, 09:16:00 AM

Crypto is much smaller than you seem to think.
It is way smaller than the US Stock exchange, it pales once you compare it to the value of say, Miami.
Similar to social networking there is a common factor in many new tech sectors, the inflation of numbers.

It is true that up to now cryptocurrency is still very small, the industry capitalization is less than 3 trillion while the capitalization of gold is more than 15 trillion and the stock market is more than 100 trillion. Cryptocurrency is really small and its market share on the world financial map is nothing but that doesn't mean it won't continue to grow. Because it is still so small, its price increase potential is not only large but will be extremely large beyond our imagination.

It is a small market but full of potential, so it will definitely be exploited and developed further, so don't be too delusional in the near future, but if you look long term, there will be many things that we can be proud of.

mindrust

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Nothing needs to happen really. Since bitcoin has limited supply and central banks will always print more FIAT, its price will increase in the long run no matter what happens. If you think a world war would drive crypto prices higher, I wouldn't be so sure. Probably the opposite will happen because crypto is a risk-on asset even though it is a better asset than FIAT. The biggest risk is the governments. If they decide to ban crypto, the price will tank to the oblivion. They are already in war with privacy and they are winning sadly. If they fight crypto, it doesn't look like they'll lose.

Kelward

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Basically what can increase the price of Bitcoin will be mass adoption, if countries where it's restricted will remove the restrictions and also countries where it's banned will unban it, and if it's been used more as a digital cash to make payments, instead of just hodling it. In basic economics concept, it's been said that when demand is greater than supply, the result will be increase in price, so if all this factors that I've mentioned are functional, then it'll drive Bitcoin price to continue to increase. However, some issues like the mempool congestion that makes Bitcoin transaction fees to skyrocket, is one of the disadvantages to the adoption of Bitcoin as a digital cash, because you can't expect to buy an item of $20 and expect to pay an amount that is equivalent to that as fee, so I wish that the Bitcoin developers will take it as a priority to remedy that stumbling block to Bitcoin adoption.

WillyAp

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Crypto is much smaller than you seem to think.
It is way smaller than the US Stock exchange, it pales once you compare it to the value of say, Miami.
Similar to social networking there is a common factor in many new tech sectors, the inflation of numbers.

Smilevictorobinna

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There are certain occurrences that can reduce or bring down the economy of a particular Nation there by also making there currency lose value in the world market for example war.

And there are also certain occurrences that can increase or rise the economy of a particular Nation there by also making there currency gain more value in the world market for example emergence of good and intelligent government.

Therefore I believe there are certain occurrences that will increase the price of Bitcoin to a very magnificent price.

for me adoption of Bitcoin as world digital currency.

I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.

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