Knowing Bitcoin price history is important

Onyeeze

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Quote from: Ben Barubal on January 12, 2024, 04:08:20 PM

Maybe somehow it is still good that we know something about the history of Bitcoin. Of course, it can be a guide that we know how it was created and why it was made. That's why it won't be proof to say that through history we can get a big profit here; of course that's not the case.

Actually, there are many things that should be considered, although it's a big factor from another angle that we are accurate about Bitcoin's past in this industry that we are in.

knowing the history of Bitcoin in very important to everyone who is interested don't know about bitcoin and secondly bitcoin is something that you can research online to know the important on the features of Bitcoin so that is why many people like to be reluctant to know the history of Bitcoin so therefore is very understanding that when you want to invest in Bitcoin you have to make a proper investigation which I would like for someone to make a proper to search of Bitcoin history before going to investment because of the future reference or blame that we come out of it

Assface16678

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Quote from: Finestream on January 24, 2024, 04:29:37 PM

Quote from: Nrcewker on January 18, 2024, 03:37:43 AM

Knowledge is always important, be it crypto or bitcoins. If you don’t have enough knowledge about the history of the asset where you are trying to invest, then definitely after a certain period you will make losses. Bitcoins price history is important because it sets the trend when the price has gone up and when it went down. If you estimate the future price through this, then no one can stop you from making tons of money. For me Bitcoins are always more valuable than gold.

Yes. It’s always an edge if we know the history of bitcoin, it’s price movement and the reasons behind why it’s price had gone high or low. With this, investing in bitcoin brings confidence despite of its high volatility, knowing it will definitely recover everytime its price plummets. Unlike if you have no certain knowledge on your investment, it would be hard for you to determine its future if you are not knowledgeable as well on its past history events.

This knowledge about bitcoin price history is important for those investors who do their own analysis of the market based on the past price of bitcoin so they can come up with predictions about the market. Some technical analysis involves the past movement of bitcoin to show why their prediction will be correct at most. Let's take an example: bull run. Because of the past records or charts of the bitcoin market, they can see the pattern where bull run might come, and from that, they predicted and noticed that bull run comes every 4 years or so, so in 2024-2025, bull run might come anytime. That's why the halving session is starting. It indicates that thanks to the informative market chart from the start of bitcoin, those who do analysis can give or share a good analysis for the investors to follow, and thanks to that, we can earn and ride the waves.

Finestream

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Quote from: Nrcewker on January 18, 2024, 03:37:43 AM

Knowledge is always important, be it crypto or bitcoins. If you don’t have enough knowledge about the history of the asset where you are trying to invest, then definitely after a certain period you will make losses. Bitcoins price history is important because it sets the trend when the price has gone up and when it went down. If you estimate the future price through this, then no one can stop you from making tons of money. For me Bitcoins are always more valuable than gold.

Yes. It’s always an edge if we know the history of bitcoin, it’s price movement and the reasons behind why it’s price had gone high or low. With this, investing in bitcoin brings confidence despite of its high volatility, knowing it will definitely recover everytime its price plummets. Unlike if you have no certain knowledge on your investment, it would be hard for you to determine its future if you are not knowledgeable as well on its past history events.

BitPuzzle

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I dont think it will be many huge changes in the price from now on. Its stable. Will keep incresing slowly and will be more acceptable in more places and thats it.

lixer

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Quote from: rachael9385 on January 21, 2024, 08:57:42 PM

What the OP said might be truth because with some good information about the past price of Bitcoin one can easily tell or predict how much it will be next time.
However, most of the times some predictions are might not be accurate but there will definitely be a day or time when one can predict the actual price of Bitcoin.
I also don't think that Bitcoin will ever decrease to $20 or $15k in future because it will cause a serious commotion that a lot of people will buy and hold it, both those that do not have the money to buy the Bitcoin at that time will want to borrow and buy (which is not a good idea).
The reason why I said it would be good to know the past price of Bitcoin is because it might help an investor to know when Bitcoin will increase or decrease.

Analysing past price can help but I think it won't give us an assurance. If only that how easy things work, many of us are now millionaire Cheesy

. Like you, I also think BTC won't fall that low. It seems impossible right? Based on how things are looking right now in Bitcoin. What is more possible is that BTC price go through the roof. But if let say the other occurs, yes it will cause a commotion.

Though I think many people are going to sell than to buy because they think it's the start of the end of Bitcoin. Borrowing money to invest can be a good idea "IF" you know that the coin will still recover and rise for more. I know this can be the case for BTC now, but it may take a long time to happen, so it is still not advisable to do.

Alpha Marine

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Quote from: GeorgeJohn on January 22, 2024, 05:35:38 PM

One thing about bitcoin price is that it is not regular or constant in price you might check the history today and tomorrow the history will change and you might be check it the price will also change so they are for bitcoin does not have one particular price and it fluctuates in price,

History does not change. History is in the past. You only study what happened in the past to understand what might happen in the future. The price of Bitcoin in 2014 will always remain like that, nothing will ever change that.

Bitcoin price fluctuates, that's why you should understand its price history. Knowing the price history helps you understand the reasons behind the ups and downs of bitcoin prices at any period in time. So with that knowledge you'll be able to predict the price of Bitcoin when an event like that happens again.
Bitcoin halving, COVID, wars, Bitcoin ETF, CEX crashes, countries banning and accepting Bitcoin, etc all have an impact on Bitcoin price. It may be short-term, medium-term, or long-term. It is through history that people in the years to come will predict the price of Bitcoin when similar events like the one I mentioned above happen.

GeorgeJohn

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One thing about bitcoin price is that it is not regular or constant in price you might check the history today and tomorrow the history will change and you might be check it the price will also change so they are for bitcoin does not have one particular price and it fluctuates in price, that is why we need to understand the concept before we panic for any kind of cryptocurrency investment or especially bitcoin investment because I know probably that many people always be confused of Bitcoin regulation in price when they have not study the regulation of Bitcoin

southerngentuk

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Bitcoin's price movements are a fascinating dance between technical and fundamental factors. While charts and algorithms might paint a picture of past performance, it's the underlying story, the "why" behind the numbers, that truly drives the market.

Let's see an example of the 2023 bullish quarter fueled by the Bitcoin ETF approval. This perfectly illustrates how a single fundamental shift, in this case, regulatory greenlight, can send ripples through the entire ecosystem. It's not just about patterns on a screen; it's about collective anticipation, confidence, and the perception of Bitcoin's future.

As we know it, rumors and headlines play a critical role too. Every whisper of government policy, exchange updates, or economic tremors sends the market buzzing. Just as a positive ETF approval can spark a bull run, a security breach or a regulatory crackdown can trigger a wave of panic selling.

It's this intricate interplay between technical indicators and real-world events that makes Bitcoin trading so captivating. It's a constant puzzle, a game of chess where you need to decipher not just the charts, but also the underlying sentiment, the hopes and fears of the global crypto community.

cryptodude

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The history of bitcoin is very important for new investors in the cryptocurrency market. Before engaging in any business activity, one must be well informed about it. Moreover, to see how its price moves in bullish and bearish markets, one must know the previous history . Moreover, knowing the history can develop the ability of a trader to analyze . Armed with this knowledge, traders can approach Bitcoin transactions with a more strategic vision, significantly increasing the probability of success in navigating the dynamic world of cryptocurrency trading.... Grin

Games.Bitcoin

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Of course a bitcoin investor should know about the history of bitcoin. Because knowing the historical history of Bitcoin will certainly make you more interested to invest. You will be thinking a lot about the past history and the past price of bitcoin and what the current price and future price might be. This historical perspective can enhance an investor's ability to anticipate potential future trends and fluctuations in the market. I think it is important for every crypto user to know the history of Bitcoin.

DanWalker

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Quote from: rachael9385 on January 21, 2024, 08:57:42 PM

Quote from: Mauser on January 21, 2024, 04:03:31 PM

Quote from: Alpha Marine on January 12, 2024, 01:24:56 PM

In 2014, Bitcoin went from about a thousand dollars to under $200 and finally ended the year at just over $300. This kind of knowledge helps you keep the faith as a Bitcoin holder when the price dips.

I agree with you that knowing the history of Bitcoin and how the price changed over the years is very helpful. I am just not sure how the exact price almost 10 years ago is going to help us make better decision today. Would you expect the price to drop down to 200 USD again during a bear market? For me this is very unrealistic, because I don't think we will ever see a price below 10,000 USD again. There are just too many different investors who would be buying large amounts of bitcoins below 20 or 15,000 USD. Maybe a more relative comparison of the price 10 years ago can help. But even then would we expect a 80% drop in price this year? This seems quite harsh for my expectations of 2024. The world is still recovering from the pandemic and the high inflation rates. Also we have the halving coming up this year. I am rather expecting rising prices this year than falling prices.

What the OP said might be truth because with some good information about the past price of Bitcoin one can easily tell or predict how much it will be next time.
However, most of the times some predictions are might not be accurate but there will definitely be a day or time when one can predict the actual price of Bitcoin.
I also don't think that Bitcoin will ever decrease to $20 or $15k in future because it will cause a serious commotion that a lot of people will buy and hold it, both those that do not have the money to buy the Bitcoin at that time will want to borrow and buy (which is not a good idea).
The reason why I said it would be good to know the past price of Bitcoin is because it might help an investor to know when Bitcoin will increase or decrease.

It can be said that to be able to predict the future, historical data is indispensable, but I will not agree with you that just based on bitcoin's price history, we will be able to easily predict future bitcoin price. For example, can you predict what the price of bitcoin will be during the upcoming bull season based on historical data?

I agree that we probably won't see bitcoin price below $15k again, it's really unlikely but to me there will always be 2 scenarios. One is that people will be afraid and not dare to buy bitcoin because it is too risky, two is that there will be people who see it as an opportunity and they are willing to accept the risk of buying bitcoin if it drops further. The market always has two sides: sellers and buyers, if there were only buyers, the price of bitcoin would never decrease.

Currently, the price of bitcoin is still falling and many people always complain about the price of bitcoin being too high and they have no chance to buy but today the price of bitcoin is below 41k$, but how many people are buying?

rachael9385

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Quote from: Mauser on January 21, 2024, 04:03:31 PM

Quote from: Alpha Marine on January 12, 2024, 01:24:56 PM

In 2014, Bitcoin went from about a thousand dollars to under $200 and finally ended the year at just over $300. This kind of knowledge helps you keep the faith as a Bitcoin holder when the price dips.

I agree with you that knowing the history of Bitcoin and how the price changed over the years is very helpful. I am just not sure how the exact price almost 10 years ago is going to help us make better decision today. Would you expect the price to drop down to 200 USD again during a bear market? For me this is very unrealistic, because I don't think we will ever see a price below 10,000 USD again. There are just too many different investors who would be buying large amounts of bitcoins below 20 or 15,000 USD. Maybe a more relative comparison of the price 10 years ago can help. But even then would we expect a 80% drop in price this year? This seems quite harsh for my expectations of 2024. The world is still recovering from the pandemic and the high inflation rates. Also we have the halving coming up this year. I am rather expecting rising prices this year than falling prices.

What the OP said might be truth because with some good information about the past price of Bitcoin one can easily tell or predict how much it will be next time.
However, most of the times some predictions are might not be accurate but there will definitely be a day or time when one can predict the actual price of Bitcoin.
I also don't think that Bitcoin will ever decrease to $20 or $15k in future because it will cause a serious commotion that a lot of people will buy and hold it, both those that do not have the money to buy the Bitcoin at that time will want to borrow and buy (which is not a good idea).
The reason why I said it would be good to know the past price of Bitcoin is because it might help an investor to know when Bitcoin will increase or decrease.

Dzwaafu11

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Quote from: Alpha Marine on January 12, 2024, 01:24:56 PM

Bitcoin price history is necessary for all Bitcoiners, but to be a successful holder you have to understand the price history of Bitcoin.
This will help you understand the volatility of Bitcoin.
When you know the price history of Bitcoin you will understand that there is nothing new about the fall and rise of price. Also, the history will let you know that the price always goes back up after a fall and that should help you in your effort to hold Bitcoin.

Checking the history of bitcoin before investing, after investing, or when learning the process of bitcoin investment is very important. It will help a newbie investor know the steps to take and understand how the price of bitcoin has been falling and rising since its existence, not only now that the demand is high but also so that the newbie investor will understand and find the investment easy. The history will also guide him to know how volatile the bitcoin market is and some other things to know about bitcoin investment.

Because most newbie investors lack much of this background knowledge of the bitcoin market, anytime they see the market turn to the other side, they start panicking, thinking that they will lose their invested money, which is not what they should do because the bitcoin market is so volatile and it requires patience with the hope of putting their money for a long period of time. I believe with this type of mindset, they won’t react when the market doesn’t favour them at the moment.

Mauser

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Quote from: Alpha Marine on January 12, 2024, 01:24:56 PM

In 2014, Bitcoin went from about a thousand dollars to under $200 and finally ended the year at just over $300. This kind of knowledge helps you keep the faith as a Bitcoin holder when the price dips.

I agree with you that knowing the history of Bitcoin and how the price changed over the years is very helpful. I am just not sure how the exact price almost 10 years ago is going to help us make better decision today. Would you expect the price to drop down to 200 USD again during a bear market? For me this is very unrealistic, because I don't think we will ever see a price below 10,000 USD again. There are just too many different investors who would be buying large amounts of bitcoins below 20 or 15,000 USD. Maybe a more relative comparison of the price 10 years ago can help. But even then would we expect a 80% drop in price this year? This seems quite harsh for my expectations of 2024. The world is still recovering from the pandemic and the high inflation rates. Also we have the halving coming up this year. I am rather expecting rising prices this year than falling prices.

irsykes

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Quote from: Mame89 on January 17, 2024, 03:21:18 PM

Quote from: irsykes on January 17, 2024, 11:26:25 AM

Bitcoin history always repeats itself even at different times because of the effects of rich people playing drama, whether FUD, negative news will definitely repeat itself with the same thing buying cheap bitcoin prices. Of course, we also understand the crypto hype and what will come next because the support of the crypto hype community is always extraordinary. The importance of history is that at least we minimize risks

There is no principle of money like Bitcoin, Freedom of money. Conceptually bitcoin is very good as a long-term asset. However, it is very necessary to know the history of bitcoin, this is so that we understand that bitcoin has a price history every four years, by knowing the history of bitcoin you will also feel calm when investing in bitcoin because you have a clear goal. for your future assets, and of course to minimize existing risks. Without knowing the history of Bitcoin, you have no purpose, you just follow the fomo and so on. because you don't have the knowledge yourself, so you often make the wrong decision.

Yes, it is true that Bitcoin investment is clearly for the long term but time always changes the market because this particular effect makes people want to have short term investments. is a big guide to the history of bitcoin, yes, even though it's not always accurate. many people who want short term investments on the other hand are very important to update bitcoin information news

Blitzboy

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Understanding Bitcoin's price history is key to my investment strategy. You learn most from bitcoin wins and losses. Btcoin's volatility is not that scary. For the well-informed and patient, volatility often brings unusual chances.

The 2017 showed Bitcoin's resiliency and potential. These moments strengthen my trust in Bitcoin's long-term value. Whoever wants to hold Bitcoin should know its price history. Its not enough to foresee the future; you must grasp this dynamic market's cycle. This understanding empowers and makes Bitcoin's volatility manageable.

Oasisman

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Quote from: Nrcewker on January 18, 2024, 03:37:43 AM

Bitcoins price history is important because it sets the trend when the price has gone up and when it went down. If you estimate the future price through this, then no one can stop you from making tons of money.

Well said. That's one of several ways to utilize that tool. Historical data will allow us to draw patterns regarding the market sentiments from the past. Though there are no guarantee that the past will repeat itself, but at least it's still a useful basis on deciding when to enter or accumulate more fractions and when to sell if one will decide to short their bitcoin and buy back at some point during price corrections. After all, we are all just speculating on the price of bitcoin in the future.
Even with such knowledge, there is actually something that can stop you from making tons of money, and that is your emotion. Sometimes, we feel anxious during market corrections and sometimes we feel greedy when the price is starting to climb. It's an inevitable emotions, but one must always remember to always look forward to achieve what the goals of investing are.

Nrcewker

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Knowledge is always important, be it crypto or bitcoins. If you don’t have enough knowledge about the history of the asset where you are trying to invest, then definitely after a certain period you will make losses. Bitcoins price history is important because it sets the trend when the price has gone up and when it went down. If you estimate the future price through this, then no one can stop you from making tons of money. For me Bitcoins are always more valuable than gold.

ultrloa

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Quote from: TelolettOm on January 17, 2024, 06:16:06 PM

Quote from: deathcode on January 17, 2024, 11:11:30 AM

What is happening is that investors or traders are predicting the cycle of Bitcoin price movements in the market based on past history. some situations that may be almost the same as the current situation, which makes it possible that the direction of market price movements will be expected to be as predicted.
it aims to make predictions of price movements, and traders or investors can place positions for the next move.

Traders doesn't really need to predict the cycle. They can always take profits whatever the cycle of Bitcoin price. Wink

Meanwhile for people who predict the Bitcoin price based on the previous cycle, it is not the wrong way as long as they don't only rely on it. People also need to consider other factors such as the current issues on Bitcoin and crypto space as a whole. Sure, the same cycle may not repeat, the situation changes every time. But if we analyze what is happening in the last few cycles, it looks like to repeat the same way for this season. Unless we have no longer the Bitcoin halving, the possibility of the same cycle to happen is always quite high.

They won't be called trader for nothing and they are usually trade depends on the timeline set. So expect that whatever market condition is for sure they are there to take profit whatever it cost since they are not dealing anything for long term. For sure people who already have a lot of experience on trading already know about the history so they don't need it anymore since what's more important is the current events since this could affect their trades to become successful.

Only new people on cryptocurrency scene should really need to know about the history since from that they can study well how the market cycle work each year base on the history since it can help them learn a lot and decide what's better action they need to do so they became a successful cryptocurrency trader or even a holder.

karabiber

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In order to invest in the future of Bitcoin, it is important to analyze bitcoin price history, and this is instructive. In financial markets, data is always like a golden egg. Whoever has the data can build the future. For this reason, my advice to new market entrants is not to make a blind investment in Bitcoin without doing price history and historical research.

It is difficult to predict the price of Bitcoin in the future, but if we analyze past price movements and consider the price increases caused by the halving, we can make a good prediction for the future of the Bitcoin price with Bitcoin price history. However, for the long term, sometimes price history doesn't matter much.
1 BTC = 1 BTC
For all time.

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