Topic: How come BTC is not at least $75,000 yet? - page 12. (Read 1921 times)

Perhaps there are still people who really can't grasp the concept of bitcoin. Specially on how volatile it is, maybe they question on how it could be a hedge for their wealth, so they are not willing to take the risk.

And I would say, only hard core bitcoin enthusiast are left in the market right now, those investors like you and me, and the speculators, who traded and make some short and quick money out of the market.

I'm guessing they're still thinking that Bitcoin isn't needed for the inflation that's happening. Or, a lot of people just don't know about it. Not to mention that the general trend of Bitcoin right now has been downward, so it pretty much just added a reason for people to actually avoid investing in crypto. Most people wouldn't even start thinking of Bitcoin as a way to avoid inflation, after all, it didn't become famous (to most hype investors) because of that, it was because it could bring in money.

BTC is cheap? It is only based on your perception, I don't think BTC price is cheap right now. Moreover, we know that we are going to have a bearish season, the price of BTC to start decreasing much. So, people who didn't buy BTC right now can't be said very bad or stupid because they know when the best time to buy is. Sometimes, we don't need to hurry buying BTC, before buying we must learn the market condition and wait for the lowest price.

Why buy like crazy while you can do it slowly? We don't need to do that actually since upon buying we need to think smart since in the first place bitcoins is mot majorly adopted yet and people mostly here are buying it for investment purposes. Many are just flipping it up to earn additional money so its bad if we got caught on its bad day since we will let our money sleep worrying about on when this one pump up.

You could have sold it last year when bitcoin had reached its ATH twice. Definitely, not today since all your efforts from hodling will be totally gone, better keep on buying this time while there is good opportunity to buy. However, if you're not still in need of fiat or don't have any urgent needs, so what's the use of selling? You can generate more profits if you can hodl them for a longer time since bitcoin gives a new peak every year, much higher than the last years ATH.

There is a very big gap between the informed and the uninformed. See what I have to show you below, which is the reason of no rush.

The first world countries
These countries are somewhat stable and the citizens of these countries are satisfied with what they have. Perhaps they have job security and a reliable retirement plans as individuals and provided by the government. So, they might not see the need to invest in what they do not understand.

The third world countries
These countries lack genuine information as they are often misinformed by their leaders. They have no option than to believe and rely on the fiat which is tangible and dear to then.

The poor
The poor doesn't have the money to invest. Even if bitcoin falls to $100, there are millions of people that cannot afford it. So, how do you expect them to rush at $36,000?

The rich
The rich will always go to the bank and borrow the savings of the  poor and become richer. So, why the rush?

Btc will get there, no rush...

The rush? I've never sold a bit of BTC since 2013 and I'm starting to get bored, that's the rush. I want to feel the fruits of my labor too. Don't plan waiting 10 more years.

That's the thinking for most of the people as they do not feel eager to buy bitcoin when it is cheap under 40k. Do you know when people will rush to buy bitcoins?
I tell you this strange behavior of bitcoin investors. You will find the rush of people to buy bitcoins and FOMO when bitcoin reached again All time high. When bitcoin will reach 100,000$, you will find even more rush from retail and the general public to buy bitcoins.

There is a lot which is going on behind our naked eyes which is a deciding factor for the bitcoin's price and it would be foolishness to assume that bitcoin's price will keep increasing till the level of infinity. A sudden dump don't scare me but this gradual dip which we have seen last few months scares me because we are in dilemma whether it's a buying phase or we will be trapped.

I would suggest we need to be ready for both dump and dump, also for some crazy rules from the regulator as I have heard crypto tax has been introduced in India wherein crypto incomes will be taxed at 30% but they cannot show the loss for any tax exemption which is the worst thing to happen if other countries adopt such rules.

I will wonder if there are people who hodl fiat like bitcoin for the purpose of asset and volatility in expectation of value increasing for profit. This will not be the case, bitcoin and cryptocurrency are for hodl and investment but what I think about fiat is to save and buy and sell but if it increase that is addition of profit.

There are so many things that could have happened with Bitcoins, at the end of the day we have to understand that pandemic is not a very kind economic situation at the same time the government is not so keen on letting some good thing in everyone's life that easily. I do think that these assumptions at a bit too high since what we have already achieved seemed over the top. The price of Bitcoins crashed after the previous hit and at the same time many governments have banned mining as well. There are countries like El Salvador adopting the bitcoins but there are other banks urging them to drop it because they won't give them loans perse. This is a constant battle, a constant back and forth between all those people and therefore I do think that whatever the situation is we are doing pretty good at the moment.

Again the same story started and people are talking about the price situation of the bitcoin and complaining. That's maybe because all the investors expect to see bitcoin price always in bullish and uptrend situation, while not just taking about bitcoin but on any other markets the price sometimes needs to rest and save some potential for reaching a higher target, also if the price was always bullish we could expect even a market collapse, so seeing this situation for the price is not that bad and that's just like bitcoin is being sold with some discount for buys who want to buy more bitcoin.

The levels of inflation of the USD and EUR might be above those that are expected and considered desirable, but they are nowhere near the level that could cause enough panic for people to look for alternatives. And the current low price is definitely not helping people to see Bitcoin as trustworthy: it is easy to imagine a potential line of thinking by a person who isn't a crypto enthusiast: the USD and EUR are losing some value, but Bitcoin's losing way more, so fiat is still a better option. I'm not surprised or disturbed by the current price. I think it will reach $75k in 2022 or 2023, but not due to people running away from inflation of fiat currencies.

For people keeping money in the banks FIAT IS an investment, but a lousy one.

It's my right to be angry and it's your right to not agree with me.

Well,fiat money are not an investment.They are a medium of exchange,which is necessary for everyone to buy food and pay the bills.Unfortunately you still can't use BTC to buy food and pay the bills.
Perhaps you should be making such "angry" posts on social media,rather than a Bitcoin forum.
99.99% of the people here are Bitcoin supporters.You don't have to convince them that Bitcoin is the future.
It's weird that the BTC price dropped from 38K to 36K USD in one day.I guess that the market turbulence will continue until the end of the winter.The bull run is postponed for the future.

I think that is because people still trust fiat. They do not want to see a new chance to become rich. Besides that, they are not open minds accepting new things that can be worth investing in the future and still trying to use existing investment. We can not force them to like or use bitcoin because that is a personal decision that we should know.

They are afraid to use bitcoin because of the volatility and are not ready to see their money values change from time to time. But if bitcoin soar to the very highest price, they will regret it and blame themselves why they do not listen to us. Let them decide whatever they want while we can enjoy our time accumulating bitcoin at any price we want.

@virtualdn, in my opinion, you don't think realistically at all, because you expect everyone to think like you or have knowledge like you, and that will never be possible. Considering that Bitcoin is extremely volatile and risky to invest&store, why would anyone buy Bitcoin at the moment if there is some general opinion that we are in a bear market and the price will only go down?

It is true that fiat is losing value and that inflation is gaining momentum, but the price of BTC has halved in just a few months, which is more than a good reason for most to stay away from risky investments. Fiat is what people live on every day, and few have enough to set aside a percentage for risky investments, especially in the long run. But again, when we look at how much money is going in the direction of the NTF, maybe a rabbit is lying in that bush

bitcoin PRICE sits within a window of value

which that value window is between $35k - $85k (cheapest:expensive mining cost) using majority current gen asics
though some decisions are made on forex crisis and stock markets. can affect the price within the window, this sentiment doesnt really have much of a price push, much of the time, and it doesnt affect the value window range at all

what is actually happening though is next gen ASICS which is bringing down the window value
at the current 190exa
current gen s19 pro 110thash - value window - $35k-$85k (cheapest electric region to most expensive)
next gen s19 XP 140thash - value window - $28.5k-$71k (cheapest electric region to most expensive)
next gen s19 pro+hyd 198thash - value window - $22.5k-$67k (cheapest electric region to most expensive)

this means the price will sit somewhere in the middle of the window.
right now hardly any asics are running at this new window. meaning the cheapest countries do not have many miners mining for $22.5k/btc
but as months move on if the hashrate stays the same the value window can come down with more support for the new lower number window range

but with that said, because new asics are coming, the hashrate could go up (add more asics rather than replace 1:1)
meaning the hashrate if asics were all:
    (s19 XP 140thash) require hashrate of network to go to:
          235exahash to maintain $35k-$83k window (market price wont go below $35k or above ~$80k)
          290exahash to grow window to $43.4k -$102.4k (market price might go to $100k but only just if lucky)

    (s19 pro+hyd 198thash) require hashrate of network to go to:
          295exahash to maintain $35k-$110.8k window (market price wont go below $35k but might go to ~$108k if lucky)

so lets hope to see hashrate move to ~240-300exa to keep good value going soon

Same here. I am also wondering why Bitcoin's price is still stuck this low when good news are around us. Shouldn't it be $100,000 or even more by now? The pandemic is still with us. Economies have yet to fully open and recover. Fiat are losing value much faster. Inflation is surpassing tolerance level. People are still finding better ways to keep their wealth.

But I guess the number one reason why Bitcoin is still this low is that the bulk of Bitcoin's circulating supply is in the hands of a few whales or institutional investors or whatever. If two of these whales dump, the market could move downward. I don't think the demand coming from retail investors could absorb a strong inflow of dumped Bitcoin from huge investors. Not to mention that many of these retail investors are simply making action depending on the current market sentiment. They fear; they FOMO; they just react emotionally. And Bitcoin is still not that widely known.

How about the money that went into alts instead of BTC as another reason? It's possible that $75K would have been reached if there was only BTC.

I've seen a diagram showing the flow of money in different phases of a bull market and it's something like Fiat > BTC > Large Caps > Medium Caps > Low Caps/Gems then goes back to fiat/stable coins once the market turns bearish. The process is repeated market cycle.