Topic: Knowing Bitcoin price history is important - page 4. (Read 726 times)

You need to understand what something comes from before you can see where it is going. Otherwise you would not have any type of idea what it is at all. This isn't some mathematical stuff, this is literally history, this is basically learning what bitcoin is all about.

I understand that it may look like we are dealing with something that doesn't have the feeling that you may think it does, but that's just not how it is, that's just how bitcoin is understood. So, everyone should have some sort of understanding what it is, so that they could have some sort of understanding where it is going as well. I believe it will be a little hard, but it will definitely be the most important part if you want to become a trader.

Knowing bitcoin price history will help us observe and understand how bitcoin price moves in the market, not only at its present but most particularly in its future price movement. Although long term hodling might guarantee high profitability, but we all know that it’s not easy to hold still despite of bitcoin volatility, hence we need high motivation to keep hodling, and by tracing bitcoin price history, we will be more motivated to hold than selling it early, losing the chances to sell at a bigger profits.

If you look at the Bitcoin chart for the entire period, you can see a lot. After all, let’s say today we complain about its fall, tomorrow about its growth, etc. BUT if you look at the entire graph, it shows stable growth over the entire time. Therefore, judging from this, we can conclude that Bitcoin has made a reputation over its history as an investment-attractive asset. So it’s worth considering Bitcoin as a long-term promising asset.

You made alot of sense in this comment, following Bitcoin price history alone is not a enough to have a successful secured Bitcoin future, but also there are other things also that are important to take note of at some point in time, this are way good enough for everyone one to take note and point of and for that to happen one need to have knowledge of the, security of Bitcoin even when you have accumulated the right amount of Bitcoin at some point, such knowledge as regards what you have mentioned in your comment.


Security is key for Safety in the Bitcoin ecosystem, and for that to happen you have to choose the right wallet, and price speculations in the way that it will go down well with your DCA practice, because profitability can't be attained without those vital tools.

By looking at past trends, I think, to some extent, a person can predict the pattern of BTC price action in the coming month. We have seen in the past halving events that the price incrased between 1.5 to 2 years after halving, and each time the BTC price touched a new ATH. The chances are that the BTC will touch a new ATH in 2025, and we will see some short-term rallies in between. Institutional adoption is also increasing, so there are chances that we might see a new ATH earlier than expected.

If there are such complete guidance from 2011 to 2024, there should be no more words or thoughts of less confidence in Bitcoin's future performance. Because what we can see from 2011 to 2024 is clear evidence that can be used as a very basic guideline to continue to believe in Bitcoin as the best of all time. So with the development of many things that have happened over time, at least our thinking that is familiar with Bitcoin must also change better so that we can accept every fact that has happened in Bitcoin.

Indeed, knowing the price of Bitcoin is very important for people who invest in Bitcoin, because looking at the past history and development of Bitcoin will help from a technical and fundamental perspective so that we as Bitcoin investors or especially beginners can buy BTC at the right time and sell. at the right time Of course we will watch the price of Bitcoin whether it will form a new ath or not, but what is clear is that according to the history of Bitcoin, BTC has always been

This is different from Altcoins which are sometimes very difficult to predict whether they will rise again after forming a new ATH or not because of course Altcoins are different from Bitcoin, so BTC is very good and is the number 1 crypto.

It's not just historical records that have to be studied, but we also have to understand why Bitcoin was born during the current economic crisis. Learning all this will certainly make it easier for us to analyze charts and of course to be able to invest in the long term. We need to know the history of Bitcoin so that we can invest with high confidence because Bitcoin charts are always changing and you can learn from past charts. Moreover, Bitcoin had a moment of increase when the Bitcoin Halving occurred, of course you can know this from the history of Bitcoin itself. With the history of bitcoin too, investors also dare to hold bitcoin in the long term.

Of course if you don't know about the history record of price then how do you or will analysis for trading ? Without out knowledge about price history is one kind of betting if you trading . And trading is already risky if you don't know about the history of price it will more riskier for your fund. So always when you wanna do trading in case of every coin always check the history prices specifically in case of long term trading.

You can't ignore what's at hand, halving is coming and bull run signs are already there, several coins have gone multiple X already, BRC20 shitcoins are giving hefty returns, this time also we are seeing positive news surrounding crypto as BTC ETF was just approved. What more guarantee do you look for?

Nothing is guaranteed, although I understand what the OP is trying to say. As @mindrust already mentioned, past data doesn't predict the future. Yes, the historical data show that Bitcoin has been performing in approximately 4-year-old circles, but that alone cannot guarantee what's going to happen in the future. Moreover, we don't have enough data to safely say that this will also happen in 4, 8, 12 years, and so on. If we suppose that we had a history of 30-year-old data and identified that every circle runs every 4 years and the price surges to a new ATH every time, or close at least, then we could be more confident in what we could predict for the future.
I was completely disheartened when Bitcoin crashed in 2017/2018, and lost interest in cryptocurrencies. After I saw what capabilities it had, rising up to $20.000 again. in 2020, I was certain that I needed to get back on track.

Perhaps, that was part of the market analysis and it is a must just to understand and be aware of where it is now, and possibly in the future. Having the comparison in every year trend, we can easily determine if this is the right time to invest or not, or if I'm going to hold or sell them.

Despite the unpredictable trend of the market at least having those records will simply help us prepare. That will prove how crypto grows from almost nothing to something valuable. Without it, only a few will have the courage to invest but as we can see, it keeps on growing.

How come statistics and data from the past don't give you any idea what the performance is in the future? Even if we take a look at the average fee from the charts we could have any idea when it will have the possibility to increase its value, it might not be 100% since it is just a speculation but you still have an idea what to follow. Even not in Bitcoin, just look at some companies and ask why they keep records of the past years despite not having an assurance that it would be the same outcome in the current or next years. If you are a long-term holder of Bitcoin and don't do DCA maybe keeping an eye on the charts would not be for you since there are still traders that would have to use this data.

If you are a long term hodler you don't need to worry about the ups and downs but if you try to look at the chart from 2011 to 2024 price performs great in uptrend position. Though we are not sure on the future performance of Bitcoin but past performances might give us a clue on how it may perform in the future.

So you're saying the past performance of a coin doesn't matter? How do you trust something without knowing how it has performed in the past?
If it wasn't for history how do we know the effect the halving has on Bitcoin price? Of course, it's not a certainty that this halving will have the same effect on price as others, but it is only because of the past that we can speculate that.
If you want to do business with someone on the forum, you'll most likely use his/her trust history, that's their past. If you want to use a service, sometimes you check the reviews.
I'm not saying Bitcoin price history is the only thing you look at, but it's going to be among the things to look at.

Bitcoin price has gone from the lowest point to a point where nobody believed it would (except the visionary, of course) and back to a very low point. A level that people doubted if it would ever recover but then again, it recovers again and shocks people, something within a very short period, other times slowly. This is what should always give a holder hope to keep holding his Bitcoin.

If you check my post history, you'll see that I always complain about high network fees because I believe that's where the real adoption starts. There's no point in the whole world accepting Bitcoin if the cost of using Bitcoin is relatively higher than its alternative. Or if you want to use a lower fee you have to wait hours, days, or even weeks.
But this post was directed at "holders".
When you're holding Bitcoin for years, you don't really care about the transaction fees. Ridiculously high network fees are a problem when you want to use Bitcoin as a currency or when you want to exchange it for fiat.

It is true that knowing the history of Bitcoin prices will make us calmer in holding Bitcoin for a long period of time, because if we don't understand Bitcoin prices well then we will panic when the price goes down and what's worse, we sell not at the right time. to gain benefits for us, this would really be very detrimental.
Yes, if we have a good understanding of price history then we will be able to trade and this can also make a profit from the trade and also we will trade well because we understand price movements well.

So you mean to say Bitcoin won't make ATH this time around 1/1.5 years after halving?

You know, this topic and the one-line quote actually reminded me of the comment I just made the day before yesterday on a post. Some people sell their bitcoin quickly due to price panic, and some people don't invest in bitcoin because they feel that the price is very expensive. The reason they have this misconception could simply be because they just met Bitcoin at the price it was trading at when they knew about it. If these same people actually study the price history of Bitcoin, some of them will not panic sell, and some of them will even begin to invest in Bitcoin. Some people don't know about the DCA strategy that some of us regularly preach about here, and these are the reasons why it's very important to also learn about price history.

Below is the comment I just made the other day.

Sure you need to know the price history, but funny enough, for some people, knowing the price history is still not enough to keep them grounded.

History may have chances to repeat itself so it's essential to learn the history at least. Most particularly for bitcoin where it's price movement is unpredictable due to its high volatility, then I believe by knowing its price history, you will gain ideas and insights as to where its price movement is heading.

While analyzing the market charts and patterns are of high importance, it's also a must that you should learn how to predict the market so you will know when to best trade and when not to. History is quite important, but we should always give more focus to its present price as it could create a huge impact on the outcome of our trading or investing.