Topic: The BTC price must stabilize in the long run. (Read 1095 times)
To convince consumers and increase the number of users, the thing that must be done is to create an easy bitcoin application and a high level of security, if the number of users is very large it will automatically make the price stable and not too volatile as it is today.
I agree with you. In times when everything around is very unstable, we can't expect something as volatile as BTC becoming stable all of a sudden. In times like these, people are selling their assets to cover their food needs and stuff, and Bitcoin is not an exception. But no pandemic and no war can last forever. Better times will come.
Stability will only be achieved when adoption is at a global level. Now adoption is no longer surprising as it is increasing day by day, but this adoption is still on a relatively small scale in the micro-industry. Not many macro industries are willing to adopt bitcoin as a payment system, but some are already well-known. Macro adoption growth can help stability as bitcoin will be used more as a currency than for anything else. Of course adoption still has the potential to grow, but it will take us decades from now to use it on a larger/global scale.
They say there are more than 180 million users of Bitcoin worldwide. So, we are moving forward step by step. And I agree with you, the more users the more stable BTC will be. How many users we need for stability in your opinion? I personally think around half billion would be enough.
I absolutely think bitcoin's price will stabilize in time just be patient. Right now there are many factors contributing to BTC volatility. First, we are probably entering a recession due to massive government overspending and general mishandling of the pandemic.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
Bitcoin has always been a victim of volatility ever since it was first listed on a crypto exchange. This problem doesn't have anything to do with the economic recession caused by the COVID-19 pandemic or the Russia-Ukraine war. The real issue is that the whole world still goes around Fiat. As long as people don't abandon the Fiat standard, Bitcoin's volatility won't disappear anytime soon. I've always wished people would use BTC regardless of its value in Fiat terms. 1 Bitcoin = 1 Bitcoin, right? If people did this, then Bitcoin wouldn't be viewed as a store of value but rather as digital cash.
Some countries already adopted Bitcoin as legal tender (eg: El Salvador and the Central African Republic) but there's a long road ahead before we could say BTC will become the standard unit of account. At least, we know Bitcoin won't be going anywhere. As long as decentralization prevails, nothing else matters. Just my thoughts
source
This is what i mean when i say bitcoin isn't loosing value but USD may be with time, inflation is the number one evidence to proof it, bitcoin cannot be a fixed value because all theories about volatility will come to an end and turn lies, after the whole blocks had been mined, quite alright miners will depend on incentives from transaction fees to earn profits but bitcoin will be independently controlled the more and everyone will tend to sell at his convenient prize, the network will still remain volatile and the price will continue to rise and fall just as it has always been, i believe volatility is one of the distinct difference bitcoin has over fiat as well.
Bitcoin price will tend to stablize in the future when there is mass adoption and again when all the bitcoin has been mined. But before then we will continue with what we have. The volatility of bitcoin is one reason people are avoiding it.
source
This is what i mean when i say bitcoin isn't loosing value but USD may be with time, inflation is the number one evidence to proof it, bitcoin cannot be a fixed value because all theories about volatility will come to an end and turn lies, after the whole blocks had been mined, quite alright miners will depend on incentives from transaction fees to earn profits but bitcoin will be independently controlled the more and everyone will tend to sell at his convenient prize, the network will still remain volatile and the price will continue to rise and fall just as it has always been, i believe volatility is one of the distinct difference bitcoin has over fiat as well.
The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
~snip~
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
~snip~
Bitcoin will lose a big chunk of its volatility as its market cap increases, so the more pricier each Bitcoin, the lesser the volatility, and that will happen naturally.
You can see the opposite of that in low cap altcoins which due to small small market cap move +/-5% with a single large buy/sell.
But other than that there are also other factors that will have some influence over volatility, such as trust and reputation, obviously a new digital asset won't have the same trust and therefore lower volatility as a reputable coin like Bitcoin which has been around more than a decade, so as more time passes Bitcoin price could get less and less volatile and sensitive to short-term negative/positive news or be affected by what other markets are doing(like now that Bitcoin price is following US stocks), so in a way crypto market will mature itself as it ages.
I agree with you. In times when everything around is very unstable, we can't expect something as volatile as BTC becoming stable all of a sudden. In times like these, people are selling their assets to cover their food needs and stuff, and Bitcoin is not an exception. But no pandemic and no war can last forever. Better times will come.
Stability will only be achieved when adoption is at a global level. Now adoption is no longer surprising as it is increasing day by day, but this adoption is still on a relatively small scale in the micro-industry. Not many macro industries are willing to adopt bitcoin as a payment system, but some are already well-known. Macro adoption growth can help stability as bitcoin will be used more as a currency than for anything else. Of course adoption still has the potential to grow, but it will take us decades from now to use it on a larger/global scale.
I absolutely think bitcoin's price will stabilize in time just be patient. Right now there are many factors contributing to BTC volatility. First, we are probably entering a recession due to massive government overspending and general mishandling of the pandemic.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
I agree with you. In times when everything around is very unstable, we can't expect something as volatile as BTC becoming stable all of a sudden. In times like these, people are selling their assets to cover their food needs and stuff, and Bitcoin is not an exception. But no pandemic and no war can last forever. Better times will come.
Because the basic concept of bitcoin is decentralization and the price is very much determined by the market so I think there is no point if it is stable, the thing that makes bitcoin a strong global community is because of the fluctuating price, this is a good opportunity to be used as daily trading.
If Bitcoin were to be stable it would make things seem strange. so Bitcoin will continue like that to see if the price will get higher or lower in the next 10 years.
It will take longer to make the Bitcoin price stabilize. We might probably have our grandchildren or great-grandchildren and yet the Bitcoin stabilization process is still ongoing. One reason for this is the organic process really takes too long. My hint would be after the mining block reward effect is negligible to the circulation of Bitcoin supply.
The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
As I see Bitcoin as time goes on, its price in the market is going up, and we have all seen that since 2009 which started with less than 1 $ each Bitcoin is now priced at 20k $ more than one. Although it has fallen from a high price of more than 69k $ and it can be said if it really stabilizes, especially now that many believe that bitcoin in the future will possibly be 100k $ each or more so many are buying now and they are holding it's a few years from now.
it is with this volatility that the government still has not legalized Bitcoin as legal tender,
we'll see what the future will be like because this is an interesting discussion
I absolutely think bitcoin's price will stabilize in time just be patient. Right now there are many factors contributing to BTC volatility. First, we are probably entering a recession due to massive government overspending and general mishandling of the pandemic.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
Furthermore, the war in Ukraine has shaken the world economy up and it will take time for things to blow over. BTC price will be in a completely different place when the market conditions change. I just try and remain patient. I’m holding long anyway so I don’t even look at my wallet these days.
The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
As I see Bitcoin as time goes on, its price in the market is going up, and we have all seen that since 2009 which started with less than 1 $ each Bitcoin is now priced at 20k $ more than one. Although it has fallen from a high price of more than 69k $ and it can be said if it really stabilizes, especially now that many believe that bitcoin in the future will possibly be 100k $ each or more so many are buying now and they are holding it's a few years from now.
~
I believe it all depends on "alt" we are talking about. The problem with the word altcoin is that it consists of everything from ethereum and bnb to all the smaller ones that are not even in the top 1000 of CMC right now and even ones that are not even listed there. So, that means when we are talking about alts, we are talking about a vast one and I agree that majority of them would shrink it, but the ones like ETH would probably not cause that.
This is why I personally try to make sure that we do not invest into silly stuff that could be a scam, but we would definitely invest into high level top 5 ones that could go on to be major players like bitcoin in our future.
I believe it all depends on "alt" we are talking about. The problem with the word altcoin is that it consists of everything from ethereum and bnb to all the smaller ones that are not even in the top 1000 of CMC right now and even ones that are not even listed there. So, that means when we are talking about alts, we are talking about a vast one and I agree that majority of them would shrink it, but the ones like ETH would probably not cause that.
This is why I personally try to make sure that we do not invest into silly stuff that could be a scam, but we would definitely invest into high level top 5 ones that could go on to be major players like bitcoin in our future.
If Bitcoin price stabilizes at some point in the future, as many of us in this thread expect, then those coins in the top 5(I think it's pretty safe to say "in the top 10" even) will become more attractive to day traders. And unlike those coins you've mentioned that are not even in the top 1,000 on CMC, coins from the top 10 have low chances of being a scam.
I believe it all depends on "alt" we are talking about.
All of them. They're all spread as investments, but they're all highly more vulnerable to manipulation, because far less institutions own most of them. The majority of altcoin developers focus on marketing tricks --and even more into their pockets-- not on the actual thing. This justifies on why they're working outside bitcoin. Not just altcoins. NFTs, ICOs --worthless tokens generally-- are dumped in bear markets, because bear markets expose part of the truth: Utility.
The stuff that follwed was more of a hard fact than this part.
No it isn't. We're in a bear market and "investing" in altcoins can make your capital shrink. It's as hard fact as it isn't. This is why I personally try to make sure that we do not invest into silly stuff that could be a scam, but we would definitely invest into high level top 5 ones that could go on to be major players like bitcoin in our future.
Because the basic concept of bitcoin is decentralization and the price is very much determined by the market so I think there is no point if it is stable, the thing that makes bitcoin a strong global community is because of the fluctuating price, this is a good opportunity to be used as daily trading.
~ It depends on who are the "we". Daily traders don't want stability for sure, but just holders ... idk. The lack of stability is what scares off many people from using Bitcoin, and we want more of them, right?
Yes, we don't want stability around $20k, but around $100k, I wouldn't mind.
Yes, we don't want stability around $20k, but around $100k, I wouldn't mind.
In trading perspective for sure traders would not like to see bitcoin go stabilize because if this happen for sure many traders lose a lot of profit because they cannot trade it according to what position they like to enter.
But if you think of it, why stick to Bitcoin if you are a daily trader? Aren't there enough other volatile assets, crypto currencies included? Just make money on their exchange rate fluctuations, right?
But if we also see it on adoption especially to be added on local merchant maybe this is good because for sure many institutions will look at it as valid grounds for acceptance and they will not worry about volatility and they can take advantage on its huge user base.
Exactly. We want wide adoption of BTC, the wider the better. And we know that with wide adoption its price can't be below $100k, which is also a good thing.
Why do we need to compare Bitcoin exchange rates with those of fiat currencies and commodities? And I don't think that Bitcoin is more volatile than most of the national currencies and commodities. For example, the Turkish Lira has gone down against the USD by more than 50% during the last 12 months (1 USD = 8.5 TRL to 1 USD = 18.1 TRL). Even the Euro has gone down by ~20% against the USD. Now take the case of commodities. Dutch TTF natural gas prices are up by almost 2500% during the last two years. Crude oil is up by 150%.
Exactly. We don't need to measure Bitcoin's value in terms of Fiat, especially when it was designed to be an alternative to the current banking system. If only people used BTC directly for goods and/or services regardless of how much it's worth in Fiat, things would've been different. Only then, Bitcoin would've been considered as a currency by many instead of an investment tool.
Unfortunately, greed has changed people's perception of Bitcoin, as they rely on it as a store of value just like Gold. Now Bitcoin needs to have a high price in terms of Fiat, or mainstream adoption would decrease at a very fast pace. There's nothing we can do about it, since that's the way the market works. How you'd use Bitcoin (either as a currency or as a store of value) is up to you. As long as Bitcoin stays true to its roots, it won't be going anywhere soon. Just my opinion
No it won't lose bitcoin users, what it will lose are speculators and traders who intend to take advantage of Bitcoin high volatility. Why would a user abandon Bitcoin when Bitcoin got adopted by masses or government? As far as I know, bitcoin users are those who use Bitcoin regardless of profit. They are the one who use it as a currency and often buy things using Bitcoin.
Yes, I mean investors in bitcoin, not people who are using bitcoin for their daily payments. Most people who own bitcoin are investors, speculators, not too many people are willing to use bitcoin as a currency, a means of payment for life. Even for large companies holding bitcoins, they consider bitcoin an investment. El Salvador is a country that accepts bitcoin as legal tender, they have bought and stored bitcoin as an asset and not a currency, even though it is legal currency in their country.
Jump to: