Market Wrap: As Traditional Markets Rally, Bitcoin Gets Boring

kryptqnick

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Quote from: mk4 on July 01, 2020, 09:17:45 PM

Bitcoin stays heavily volatile: people complain
Bitcoin stabilizes in price in the short term: people complain anyway

You really just can't please everyone. Tongue

Personally though, while I definitely don't mind a price rise(or a drop for cheaper sats), am I the only one who's actually happy enough with bitcoin's current price? I'd actually be fine if bitcoin stays at this range for years. 9k is just the not-low but at the same time not-high price in my opinion.

I am perfectly fine with Bitcoin being between $9k and $10k. I think that this sort of relative stability + low fees could open opportunities of actually using Bitcoin as money, so perhaps retailers would be more active in adoption. I have some BTC, but I'm not waiting for it to cost more. I just hate it when it's suddenly worth 30% less, but when the price is not $6k but almost $10k, it seems good enough for me and definitely better than rapid growth followed by a crash like at the beginning of 2018. Crazy fees and rapid changes definitely aren't for me. Comatose $6k-$7k just doesn't feel right. But the current price or maybe 10% more is good.

mk4

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Quote from: Debonaire217 on July 01, 2020, 11:28:05 PM

There are various reactions but people do that because the outcome doesn't turn out to be in their favor. They know how volatile Bitcoin is, that is why they're building hype to turn the table.

Ehh I don't necessarily think that they're necessarily "building hype" for bitcoin to be volatile. I think that most are actually complaining. Let's not forget that there are a lot of people that are quite young and that have zero investing knowledge outside of bitcoin. So as expected, their time preference will be really really short. Compared to an experienced investor whereas waiting months without doing anything is normal.

amishmanish

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That is some clickbait title for the article. What it is essentially ruing about is that 96% of the price movement is because of retail investors trading it on exchanges. I don't know how they have come to that figure of 96%. The actual point the article made was that if institutional investment had been attracted towards bitcoin, we would start seeing more rapid surges.

This is worth some discussion if we had figures about what is driving or can drive the price apart from retail demand. Ffor such a movement, we will need some fundamental developments like revenue generating companies and products adopting bitcoin usage through LN-based solutions.

Till we see such an increase in real-world adoption, people waiting to realize their "moon" dreams can bid them goodbye.

dothebeats

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Cashback 15%

I'm actually okay on where the market stands right now, and that is from a hodler-trader perspective that has been doing this type of thing for almost 5 years. It's the duality of bitcoin that makes it an interesting asset class/investment/whatever you call it since it can be anything at a given time. Only those who doesn't know how to profit off of these different conditions are the ones who are complaining of the current state of bitcoin, and will continue to complain until they hit some jackpot that will silence their tongues.

mersal

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Quote from: gmjutt6 on July 01, 2020, 09:01:10 PM

Source: https://www.coindesk.com/market-wrap-as-traditional-markets-rally-bitcoin-gets-boring

He is little bit right in his profess. And we all know that what the Bitcoin has done on halving. Bitcoin is wrapping the market but the fact is that people still believe on bitcoin and they can't believe on any other altcoin and they know that the Bitcoin will never disappoint them. And soon the Bitcoin will fill the space which has been done in few months.

When bitcoin's price surge when other things are falling people say it is a bubble but when the price of bitcoin stable at some point then people will call it as boring.So we have to understand that bitcoin is different and unique unlike any other assets we have, it has got the real value from demand and supply.Bitcoin is profitable while holding one who read its price history will accept that, if you also want to make profits from bitcoin then hold it.

Debonaire217

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Quote from: mk4 on July 01, 2020, 09:17:45 PM

Bitcoin stays heavily volatile: people complain
Bitcoin stabilizes in price in the short term: people complain anyway

There are various reactions but people do that because the outcome doesn't turn out to be in their favor. They know how volatile Bitcoin is, that is why they're building hype to turn the table.

Quote from: mk4 on July 01, 2020, 09:17:45 PM

am I the only one who's actually happy enough with bitcoin's current price?

Me too, though, it's okay for me for bitcoin to decline a bit more, as well as to increase because both sides still provide opportunities.

Price Decrease: Good to buy
Price Increase: Hodl till peak then sell.

Maybe it's beneficial for me because I think for the long term and not rushing profit.

rhomelmabini

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Still hanging but I think it's not that boring. If it goes up then it's a good thing but if it surges down just be happy to buy another dip from the market. Traditional by now, the next time it wouldn't be the same for sure.

A haiku for you and everyone.

The uncertainties.
It will make you feel wary.
Relax for a bit.

mk4

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Bitcoin stays heavily volatile: people complain
Bitcoin stabilizes in price in the short term: people complain anyway

You really just can't please everyone. Tongue

Personally though, while I definitely don't mind a price rise(or a drop for cheaper sats), am I the only one who's actually happy enough with bitcoin's current price? I'd actually be fine if bitcoin stays at this range for years. 9k is just the not-low but at the same time not-high price in my opinion.

gmjutt6

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Source: https://www.coindesk.com/market-wrap-as-traditional-markets-rally-bitcoin-gets-boring

He is little bit right in his profess. And we all know that what the Bitcoin has done on halving. Bitcoin is wrapping the market but the fact is that people still believe on bitcoin and they can't believe on any other altcoin and they know that the Bitcoin will never disappoint them. And soon the Bitcoin will fill the space which has been done in few months.

Topic: Market Wrap: As Traditional Markets Rally, Bitcoin Gets Boring (Read 228 times)