Topic: Knowing Bitcoin price history is important - page 3. (Read 724 times)

Many people give analysis of Bitcoin without making any research or any investigation of bitcoin to know if the market will be productive if the market will be positive then just come in conclusion to deceive many people who is in talk cryptocurrency investment especially Bitcoin so that is why I advise my people to do not take all the advice they came across in a online and the other platforms that discuss about Bitcoin, for me it is better that we use our tools to ensure that we have make test of Bitcoin market before we can be able to publish it to the public as a result of analysis that is dependable and reliable

Your understanding of the importance of Bitcoin price history in the context of technical analysis and long-term ownership reflects a sensible approach to the cryptocurrency market. Historical data can indeed provide valuable information about how the market has responded to various events and conditions.
Knowing volatility and experiencing previous boom and bust cycles can help investors better understand the nature of the cryptocurrency market. Confidence that prices can recover from declines, especially over the long term, is an important part of the psychology of a successful investor.

Whatever the current manifestation of bitcoin may be, it has always been, from market trends to halving events and much more, some of which were simply improved upon. Having knowledge of prior events will enable you to perform to the best of your abilities. depending on how well you already grasped the principles. Traders possess knowledge as, in order to avoid missing out on profits, they must monitor the market. Without knowledge, they wouldn't even understand what a bull run is. But if you merely buy and keep and you fail to keep up with the market direction. And comprehending business and economics can be quite beneficial to the person applying these concepts.

Indeed the reason is more relevant than with just the idea that its market value have increased over the mentioned period of time. I believe that one reason which contributed to this increase was familiarization along with advancement of technology. I myself was guilty that I wasn't aware of the existence of this industry way back 2013. I never had the courage to invest that time 'coz I thought it will just be a waste of money. And likewise with most of you guys here, I regret not doing so. Bitcoin and this industry in general became known and trusted by more people over years due to its benefits such as decentralization to name one. But if it is with the progressive growth of its market price then I doubt for its relevance; history will repeat itself indeed as we saw before however, things won't be exactly the same simply because there are many underlying factors that affects the demand towads this blockchain.
Quite of a domino effect; as its popularity spreads, the market value slowly increased before, as its price is increasing more people are getting their interests up as well, forming a continuous cycle. Bitcoin's market price volatility was its downside but is now where investors benefit more. There's no consistency on its price movement as we all know; patience is the only thing needed aside from risk tolerance with the amount you are planning to invest. It is a profitable asset indeed however, its market price will always have the tendency to fall given that nothing supports it than demand and demand happened to just be a changing variable due to several factors or reasons.

I think when you are hodler, you probally know what bitcoin is and what problems it solves. The price does not matter for those are holdings the coins for a long run. The only worries that a bitcoiner has at the final of every month, he or she will be able to save in some satoshis, whatever the price at the moment

I think anyone buying Bitcoin, like you, ought to be aware of the cryptocurrency's past price.
You may use it to evaluate the possible benefits and risks of holding or trading the currency in this way.
Bitcoin has historically shown considerable price volatility, from what I can tell in the image you posted. Hence, it's difficult to predict when to purchase and sell it to avoid losing money in the end.
But, if you truly want to optimize your profit potential with bitcoin, you will need to do more research and gain a deeper grasp of cryptocurrencies in general. This does not mean that you can simply invest in bitcoin and hope for a rise in profit.
This pattern in bitcoin I believe it can be our basis for future price movements.

Bitcoin has only grown in popularity since it first hit the market. Not only has the popularity of Bitcoin increased, but the value of Bitcoin has also increased significantly. If the new investor observes the past history of Bitcoin, the new investor will be forced to accept that the price of Bitcoin has the potential to increase several times in the future from the current price. If there was such a counting system, we would see how much the number of Bitcoin users is increasing every year compared to the previous year. People who know about bitcoin try to stay connected with bitcoin and new people who express interest to know about bitcoin can learn about bitcoin new and old investors together we can say that the number of bitcoin users has increased a lot compared to the past.

Being aware of bitcoin price history will bring great advantage to all of us since there are high chances that bitcoin price movement will repeat itself, at least we don’t have to worry about that bitcoin price will end up zero value. A lot have predicted that bitcoin is dead, but until now it’s price continues to rise high even more.

However, when it comes to huge price dumps, it’s really a big test for all of us, but unfortunately some end quitting since they can’t stand the pressure anymore and just settle to the less risky bitcoin hodling.

“History is bound to repeat itself” as they say

trends usually come and go in different manifestations or for different reasons each year and investors can use this to try and strategize around the market when trends happen it is usually for a reason hence why we can not just blindly follow what has happened before but look at the causes of such price dump or pump

Economics involves a lot of psychological factors so this is also something to be considered when investing

This story may not be that relevant against the topic but since we're talking about how reliable bitcoin is anyway I think this one's worth bringing up. Back in 2022 I have heard about the guy who created this formula or whatever that could dependably predict how much bitcoin will go for as time goes by. So far as I said the graph and formula he made has been very dependable and at least accurate which is a good thing, cause it means that bitcoin is cyclical, and that if we play our cards right we could time our buys and sells and expect massive profit upturns all by playing around bitcoin's price behavior. Plus the fact that bitcoin's still volatile yet cyclical allows it to be one of the most risk-free cryptocurrencies on the market right now. You could lose all your shit in any other cryptocurrency but with bitcoin, there's a chance for recuperation and even profits after a tumultuous crash as long as you don't sell your positions when the market is down.

This doesn't mean that you could just put your money onto bitcoin and expect profit upturns though, as you need research and a deeper understanding of cryptocurrencies and bitcoin if you really wanna maximize your profit potential with it. Investing willy-nilly and then selling your position when the market's down, then blaming bitcoin for dumping is one of the worst things you could do for yourself. Bitcoin will eventually come around, but soon as you step out of that door you're no longer part of the party. So make it a point to always have a foot at the door when you're investing in cryptocurrencies, particularly when it comes to bitcoin, as it rarely disappointed people who believed in it.

If you are a long term hodler, you will know that bitcoin always recovers even from its deepest price drops so you don’t need to worry knowing bitcoin always dominates the market. But still, price history is very important so we will know how how bitcoin price moves in the future, and if it’s still capable to surpass all its ups and downs without seeing bitcoin price completely losing its value.

There are a lot of factors that will affect the market movement in the past and in the future but Bitcoin's halving has caused a huge impact on the market.
In the event of the 4-year cycle movement of the market, it gives us an idea of when to buy and when to sell and that is exactly what people are doing now and probably the same thing happen in the future. While people are learning their experience, it also affects the market trends and the stability of the price. 

But we don't just focus on the price history of Bitcoin, we also have to take a look at the transaction fees as it also influence the interest of the people. It probably we have some experience in the past but we also expect some changes due to the changing approach of these new investors. 

Nothing is perfect, not Bitcoin and its investment, and who knows what could happen this time even as people expect positivity? This is why investors must not be 100% trusting and believing that the history of an asset is the perfect future indication of what will happen, and it is no news that experts in the field of investment always warn people against such thought, it is not good, as it has disappointed so many in the fast. Fine, Bitcoin is an asset that behaved like no other asset before, but still, Bitcoin is very young, we do not know what it will keep doing over time. Before it came to the limelight of what it is now, there was a pattern truly, but what if it deviated from the pattern and people's expectations or should I say the original ideology?

What people are expecting now is what I always call Bitcoin tradition, but what if as it grows in age, especially this time that it has been inculcated into the mainstream of the financial market and institutions are taking over a large part of it, it now changes from the old ways? I have been careful about this though and I will continue to be watchful and let my trading chart guide me regardless of what people are saying about it. And like you said, many are forgetting the psychology of the market which is a grave mistake for them, and if this psychology changes just like what happened recently with the ETF saga, it can't be good for the market. Thereby, what we see as FOMO now will be in the reverse when people are making panic withdrawals of their money.

The market could be so funny at times, so you don't trust it 100%.

I agree with what you said because if one wants to have a good idea or know about bitcoin then he must know the past history of bitcoin price and see how bitcoin price has moved in the past Knowing these, many investors may have an idea of ​​when the Crypto Bull can start or when the bear season can start It is important for those who are into cryptocurrency to know the history before Bitcoin

It doesn't need a lot of effort to figure out BTC goes up in the lock term. The proper question would be what makes it go up. And I tell you, this is not on the charts.

I can draw any line, curve, or put up random indicators on charts to prove my point. But in the end it will only go up or down because of the fundamentals. Issuance. Halving. Supply and demand. This kinda boring stuff.

Prices are influenced by many things - but sometimes it's difficult to know the exact cause of a drop. There are times when the price drops due to bad news whether it be a hack of a centralized exchange or perhaps the detection of a large sale by one of the whales - but other times, the price drops without any known cause.

You'll need to stay on top of the latest news if you're buying and selling because of it - but I tend to agree if the goal is short term. If you are investing for the long term - you should do as many other holders do, buy the dip and do DCA and hold for the long term.

That is true, you can easily see the movement but the reasoning of such ups and downs, that is for you to find out.
Because those roller coaster movement have their reasoning behind. And much better if you understand them so you know
its influence in the market and make some smart decisions when you need to buy more for your stash.

It is also critical to try to think about what those moves imply, since it is very easy to check the charts and see all the movements that bitcoin made in a matter of seconds, however those movements took months and sometimes a full year to materialize, and living through such movement is a completely different experience than to just look at it on a chart, and anyone that is trying to familiarize themselves with this market needs to remember that soon enough they will have to go through the same experiences, and if they do not go through this process they can be caught with their guard down.

Technical analysis is just extrapolating data and looking for patterns without understanding why the price moves. Which is quite bad, because market conditions change, so these extrapolations often fail. People can find success in trading stocks or commodities if they have a good sense of the forces that move those markets, if they have deep analytical skills. But it's hard to apply the same to Bitcoin because of how purely speculative this market is. The price goes up and down not because something with Bitcoin changes but just because some traders decided to buy or sell big.

What you are saying is correct, and I completely agree with you, but you are forgetting a very important thing: the psychological aspect. You can do your researches, studies, and then you may think you are ready but then comes the dump: -20%, -40%, -60%... And not everybody is able to handle it, many people can't take it anymore and they sell at loss. Bitcoin, at the moment, is not for everybody.