Topic: How come BTC is not at least $75,000 yet? - page 2. (Read 1921 times)

Despite a big drop in the price of BTC to its all time high of $68,789.63, the number of unique addresses still stayed the same, suggesting that people are willing to hold or invest in BTC at the current time. This shows a strong level of confidence in BTC, which is gradually increasing in value. If we take into account all the good things Bitcoin has to offer, I think the $75K price will be only a drop in the bucket once Bitcoin enters the mainstream. Anyone new to this field is sure to be influenced by now or then. A high market dominance allows BTC to run for a long time, so we're waiting for that.

Let's not forget that bitcoin will increase its value also because the dollar (and fiat in general) will keep losing value because of inflation. So it will be easier to see new ATH but at the same time will be able to purchase less. But until when we don't change bitcoin for fiat is not actually a problem, at the end 1 BTC = 1 BTC

We have to be patient and don't be in a hurry, we have to reflect on 10 years ago, where bitcoin had absolutely no value, even most people hesitate to enter the world of bitcoin, for fear of new things, because most people think this is a scam, but as time goes by the price of bitcoin is increasing, and everyone is flocking to the world of bitcoin, even last february the price of bitcoin broke through $ 58,000, so if you ask why the price of bitcoin bitcoin has not penetrated the $ 75,000 mark, maybe my answer is because people still doubt about bitcoin, and people are still looking for a safe place, and still choosing banks as a safe place for them to keep their money.

All this points you mentioned are now in the past. They are no longer factors that get traders scared. The Russia war with Ukraine is making bitcoin gain alot of demand as Ukraine is getting donations in bitcoin and other altcoins. No government is spreading negative news about bitcoin now as everyone of them is focused on the war and covid19 outbreak. Again, bitcoin is not unknown as you said. It has been around for over a decade. It is because of its popularity that panicked government to ban it in the past. You can not ban or be scared of what is unknown, will you? Bitcoin is well known in the world today.

Bitcoin price rushed too fast last year so was the market capitalization too. To strike a balance between demand and supply in the Bitcoin price might take a process of time. No matter how people switch from fiat to Bitcoin it won't make the price move up so instantaneously because the market moves in two direction up and down and its ATH as at last year was too alarming so expecting a retracement to make a balanced is much expected.

Give some time and it will reach $75,000 but is $75,000 the ultimate target of bitcoin? For sure, No. Bitcoin is meant to cross 100,000$ and even more but this will not happen quickly. We need a lot more awareness and adoption for this to happen. Also, we need new retail and investors to enter in this market. Without the new money injecting in and without the increase in crypto marketcap, such big figures like a hundred thousand dollars will look like a dream.

There's so many reason, can be considered behind
1. People need fiat to buy things for daily usages, regularly.
2. Government spread negativities about bitcoin as they know they could never control it.
3. Hacker hacked exchanges, institutions and took bitcoin! That might be make people afraid about using bitcoin.
4. Life goes well in reality. They prefer invest on real life business where they've experience cause bitcoin is unknown

This is logical, not everyone will invest in bitcoin, just as not all people invest in gold, silver, real estate or stocks. Everyone chooses for himself what to invest in, but you are right, there are more and more investors who want to invest in bitcoin. I think a lot of volatility is still holding back a lot of people. The situation may change when the price of bitcoin becomes more stable.

Lack of money is one reason. Basic thinks' price went up but the earnings / income is less and unable to have extra amount in hand to invest in BTC though being very confident in BTC return. People who are rich, holding themselves back from investing more on btc seeing its current market move. This would be another reason. But when compared to 2020, number of investors have increased

Right now there still are too many things going on: covid is not done yet, prices are going up, uncertainty because of the war... Many people are still struggling to get to the end of the month or simply filling their tank, I can understand why bitcoin doesn't seem to be a priority right now, even though it's actually a great moment to accumulate.

I think it is not just because of lack of awareness, I think it also has to do with fear of btc price going down, those who are aware are more concerned about the price, for someone who bought btc at 60k and watch it go down to 30k (who probably panic and sold at loss) will not consider to buying back.

While those who are still holding from ath are probably just waiting for the price to go back to 60k so they can sell. There are different reasons why majority of people are not saving money with btc. It could be lack of awareness,  it could be fear or it could be lack of trust as a result of the awful things about btc and crypto online.

In fact, I thought that the distrust was more of a problem than awareness. Many people are already familiar with cryptocurrencies, bitcoin in particular, they know about its potential and purpose, but they do not seem to be able to accept it as the truth. Each time they delay their decision to invest in bitcoin because they think it's too late, or the price is too high, or a bunch of other reasons. And then bitcoin grows again and they regret that they didn't buy it before, but at this point their distrust grows even more, because according to their logic, after a big growth, it's definitely too late to buy. The situation is similar with the fall of bitcoin. Instead of buying, they drop their hands and say that such a fate will befall Bitcoin all the time, that it will always lose in value, and therefore it is good that they did not buy it. These people seem to me to be always in the wrong place at the wrong time. It is because of their distrust, I think

Of course. Not every country supports Bitcoin these days. There are a vast number of people who don't know what Bitcoin is. If we include those people into Bitcoin, the cryptocurrency's price would've been more than $75k by now. Good things take time to reach the mainstream, so I'm in no hurry to see Bitcoin reach a new All-time-high anytime soon.

As you've said before, no one knows when Bitcoin will reach $75k per coin. All we can do is speculate with the hopes of seeing our dreams becoming a reality someday. The cryptocurrency is deflationary by design, so it should be able to reach a new ATH with every block reward halving. That is assuming demand stays high. With institutional investors, renowned companies, and prominent figures in the game, I'm certain 1 Bitcoin will never be worth the same as it is right now. Buying and holding while it's still "cheap" may be your best bet towards achieving untold riches in the future. Just my thoughts

That was my thoughts. The only think it hasn't started yet is maybe because the adoption isn't great. People still looking into other assets to protect their money. The properties in my area went up 50% in the last year.

Yeah i feel like the Fiat currency is losing so much value lately that everyone is noticing it, the printing ponsy is finally coming to a end. Crypto gives so much power back to people and yeah i agree BTC is worth peanuts currently considering it's potential.  But at the same time i feel like there are more rewarding options out there than BTC since BTC has already such a high market cap it's hard to raise the price. I been keeping these 2 projects on my radar for a while and i wonder what do you guys think of them? I'm really into metaverse/gaming niche and i like to keep my portfolio diversified when it comes to metaverse/gaming. First one is #Lunafi which brings crypto safe gambling to metaverse on Polygon network which keeps the gas prices low. Lunafi also has a Yield farming option for passive income if you plan on holding for longer times you gain extra rewards every time someone places a bet on Lunafi by providing liquidity for them. The other one that really caught my interest is #ENGN which makes game development on blockchain a whole lot easier, by allowing developers to implement blockchain technology to non-blockchain projects. Which is a matter of time till big companies see the potential of blockchain technology for their companies. Also $ENGN has a new shooter game around the corner which runs on Unreal engine and the gameplay reminds me of fortnite but on steroids. But i'm also looking for more suggestions to diversify my portfolio on the Gaming/metaverse niche. Thanks !  

Profits is profits and people shouldnt really be having those kind of regrets on keep on looking back in the past on how much they could have potentially made off if they do able to held their coins for long years.
Not all does have the same level of patience or tolerance when it comes to waiting game because when it comes to future then no one really knows on what it would looks like so its not surprising or shocking
that you would really miss out  these opportunities due to unpredictability or random nature of the market which is something people do normally commits on.

Damn. I hope you have backed up your Keys. I looked at so many blocks and thought most of these people lost their coins... apparently some of them are just diamond handed. I sold so much BTC for worthless fiat money. Don't be like me, kids. Stay with BTC!

Inflation has hit a record high and bitcoin is seen as a hedge against inflation. This is really the factor for bitcoin to hit new ATH when fiat currencies are seriously depreciating and people will need a safe haven like gold, bitcoin is a great alternative next to gold. High inflation will mean that the government will pump more money into the economy, but bitcoin limits the supply. As demand increases, prices will climb.

However, the use of Bitcoin during war isn't good for the price movement. There are many people try to do transaction with Bitcoin because of the sanction that they receive. Why I say that's not good enough because in war many people sell their asset to fulfill their needs even for the government too. Government although dislike to Bitcoin because can't control it, but they keep accept money in Bitcoin for pay war cost.

I disagree with you because economics situation and world conflict cannot stop bitcoin price not to break through back to $75k. During the pandemic that took over two years and some months, made some countries to understood that no economy situation or countries conflict can stop bitcoin price not to pump or dump in the in the world. Investors are seriously busy to invest their money on bitcoin because the price has decreased to $38k which any moment from now, it will improve to $75k or $100k to allow investors to recover their losses. The level the price of bitcoin has got to now in the exchange market, show  we are about to see another favourable level of bitcoin price before the end of this month.