Topic: The crypto market has changed and I think its a sign of mass adoption - page 3. (Read 782 times)
October 14, 2023, 05:06:10 AM
We can't say that there has been mass adoption of the crypto market, but people have been talking about crypto a lot lately, which is a potential sign of mass adoption. Adoption is increasing with every passing day because of increased awareness and the involvement of institutional investors, and the chances are that in the future, we will see countries legalizing a few cryptocurrencies. I think the World will slowly and gradually adopt cryptocurrency because of its volatility concern and regulatory issues.
October 13, 2023, 10:45:55 PM
4-year cycle theory is not related to it being a historical event, but rather a clear variable in supply. Since we assume that demand increases continuously, it is this sharp decrease in supply that leads to a change in the price and the accompanying rises. If we consider that the bottom price will be the average Bitcoin mining costs. We will find that the bottom will be around $30,000, and the top could be 5 times that, which means that the new ATH will be $150,000, which is what many expect.
This means that the average price for the coming years is $60,000, and from here we see technical analyzes calculating Bitcoin price cycles based on four years or a historical cycle.
I do agree that it is going to be clear that people are going to invest based on the historical pattern, but also the main reason will always be the lack of supply to an ever increasing demand. We are in a world where bitcoin gets more and more popular every single day, it is just a fact, look at how many people ever own bitcoin 10 years ago, look at 9, look at 8 and so forth until today and you will see that there are less and less people who are not in the market.This means that the average price for the coming years is $60,000, and from here we see technical analyzes calculating Bitcoin price cycles based on four years or a historical cycle.
This means that we need to arrange something that will benefit everyone on the long run and keep it going. This is why I believe that we need to arrange something that we can hold for as long as possible and the increases will definitely benefit us on the long run. This should be important because it manages our future and sure maybe the real reason why it is going up is not because of historical pattern, but they could think of it that way and we would definitely be getting a good result from it.
October 13, 2023, 04:44:42 PM
That is a risk but we need to accept everyone as the yare, as long as they get into crypto. I do not care if a person uses it like money, as in currency, or use it to store value, or use it for investment, or use it to trade. None of this matters to me, as long as people are using bitcoin one way or another, I find that as a good thing for the crypto world and should be as good as it gets. I get that it may not be all that simple, and maybe we will end up with something that could change it for a while, but we should definitely get something easier done later on.
This could be something that will benefit everyone, but for that to happen we need to be able to get a greater return. So if the price goes up, then the adoption will increase, and I mean adoption as in everything I talked about, including investment. If that could go up, that would mean that we are going to end up with something that should benefit everyone equally and get them a chance to like bitcoin.
I do not like to make that distinction either, people are either using bitcoin or not, whatever use they give to bitcoin is not my concern, what we need is for people to begin to use bitcoin in any way that benefits them, and if for some this take the form of an investment or as a trading vehicle that is fine, since once bitcoin reaches enough people and it is adopted by them the easier it will be for those people to make the transition and begin to use bitcoin on their daily routine. This could be something that will benefit everyone, but for that to happen we need to be able to get a greater return. So if the price goes up, then the adoption will increase, and I mean adoption as in everything I talked about, including investment. If that could go up, that would mean that we are going to end up with something that should benefit everyone equally and get them a chance to like bitcoin.
October 13, 2023, 12:44:12 PM
Crypto is no longer just a niche topic for tech enthusiasts; it is now something that is being talked about by people from all walks of life. The progress that has been made in recent years is remarkable, and I believe that crypto mass adoption is inevitable. I am excited about the potential for crypto to democratize finance and create new opportunities for people all over the world, making it a more equitable and prosperous place.
It just now when people had already appreciated the movement of the market and its huge profit. The more it talks on social media and those people who have shown their wealth upon investing in Bitcoin, the more it drags attention and courage. But for me, it was not what we called adaption because people's interest is not about accumulating and using this as a currency but solely for investment purposes. We can see huge demand as the corrections start and they soon be selling off their coins to make a profit and so the dumps started again.
This could be something that will benefit everyone, but for that to happen we need to be able to get a greater return. So if the price goes up, then the adoption will increase, and I mean adoption as in everything I talked about, including investment. If that could go up, that would mean that we are going to end up with something that should benefit everyone equally and get them a chance to like bitcoin.
October 12, 2023, 06:13:49 PM
I'm seeing a number of spikes in terms of addresses on that chart that don't actually reflect on the price. It's not just the spike during the $15,000 bottom last year. There's also that spike of the number of addresses in the second half of 2016, but the price didn't move accordingly. There's also another one in 2022. And then another in 2023. So I don't think there's really a solid basis to conclude that a spike in addresses means a growth in price. At the end of the day, a new address doesn't equate to a new user.
thats true, quite literally everytime there's exchange user just registered they will be assigned an address too but thats only very small portion of the addresses generated.most of the time I think its coming from the autogenerated address by various platform that always try to use unique address that hasn't ever used before by generating an address instead of using existing ones.
definitely has no correlation towards the price, the address generated could be 1 million a day, but the price can stay the same.
there's so far no clear indication that anything have something to do with the value other than the demand itself.
October 12, 2023, 12:51:08 PM
As much as we would all like to give the impression that the cryptocurrency market can be predicted with certainty using numerous theories, such as the 4-year cycle theory, which is meant to anticipate both bull and bear markets. While all of this has historically been demonstrated a few times, there is no denying that the landscape of the entire cryptocurrency market has fundamentally shifted as a result of this recent mainstream adoption.
By my understanding of mainstream adoption, I wouldn't say cryptocurrency have achieved that; we are still far from it even though we have made remarkable progress in terms of awareness. I will be comfortable to say cryptocurrency have achieved mainstream adoption when it becomes legal tender in several jurisdictions and readily accepted in various merchants and businesses across the world. This will come when there are innovations that make cryptocurrency attractive and a better alternative to conventional way of doing business.
October 11, 2023, 09:26:37 PM
I'm seeing a number of spikes in terms of addresses on that chart that don't actually reflect on the price. It's not just the spike during the $15,000 bottom last year. There's also that spike of the number of addresses in the second half of 2016, but the price didn't move accordingly. There's also another one in 2022. And then another in 2023. So I don't think there's really a solid basis to conclude that a spike in addresses means a growth in price. At the end of the day, a new address doesn't equate to a new user.
October 11, 2023, 04:08:52 PM
The popularity of crypto skyrocketed during the last bull run. In that period all people could talk about was crypto and how it could make them rich. The dip happened and a lot of them separated themselves from crypto. This is mainly because they either invested in the wrong coin or didn't have a clear idea of what crypto is.
The majority of people still think that crypto is a get-rich scheme, so when it doesn't produce the profits they were hoping for, they decide to avoid it or label it a scam. This time around, when people talk about the approaching bull run, you'll see people investing in altcoin in the hope that it would make them wealthy while forgetting that not all altcoins will experience a sharp increase in value during the bull run.
It is so awful that we still have people in the crypto space, who do care about investing in altcoins more than they invest in bitcoin.
October 11, 2023, 08:13:18 AM
Crypto is no longer just a niche topic for tech enthusiasts; it is now something that is being talked about by people from all walks of life. The progress that has been made in recent years is remarkable, and I believe that crypto mass adoption is inevitable. I am excited about the potential for crypto to democratize finance and create new opportunities for people all over the world, making it a more equitable and prosperous place.
It just now when people had already appreciated the movement of the market and its huge profit. The more it talks on social media and those people who have shown their wealth upon investing in Bitcoin, the more it drags attention and courage. But for me, it was not what we called adaption because people's interest is not about accumulating and using this as a currency but solely for investment purposes. We can see huge demand as the corrections start and they soon be selling off their coins to make a profit and so the dumps started again.
October 09, 2023, 09:51:48 PM
This is what I have said before day by day, a lot of people, new people are being introduced to Bitcoin, and new people are starting to use Bitcoin or own Bitcoin.
That's why our market continues to evolve, some fundamentals before could not be effective anymore in the future because of a lot of factors to consider, like the major is the volume and adaption.
That's why our market continues to evolve, some fundamentals before could not be effective anymore in the future because of a lot of factors to consider, like the major is the volume and adaption.
October 09, 2023, 06:39:46 PM
I have seen some sustained growth in certain crypto use cases. The crypto bubble of 2021 might have burst but this time more people got accustomed to the technology and have kept using it since.
People keep using crypto debit cards for their cashback. Many people still use DeFi to hunt yields and I've heard many of my friends use crypto as a payment method over time. One primary use case is ease of payment between countries and especially for services hosted in countries that might be affected by sanctions. For instance many of my friends have at some point needed to purchase followers or likes for their online profiles. These services are mainly provided in Russia and even though it's not illegal to purchase virtual services and goods from Russia as an individual, visa, mastercard and SWIFT sanctions make it really hard to buy stuff from there. So bitcoin suddenly is a much more realistic option.
But to say that a slight increase in usage is mass adoption? Nah... If you live in the west it's still much more convenient in 99.9% of occasions to pay with a debit card...
People keep using crypto debit cards for their cashback. Many people still use DeFi to hunt yields and I've heard many of my friends use crypto as a payment method over time. One primary use case is ease of payment between countries and especially for services hosted in countries that might be affected by sanctions. For instance many of my friends have at some point needed to purchase followers or likes for their online profiles. These services are mainly provided in Russia and even though it's not illegal to purchase virtual services and goods from Russia as an individual, visa, mastercard and SWIFT sanctions make it really hard to buy stuff from there. So bitcoin suddenly is a much more realistic option.
But to say that a slight increase in usage is mass adoption? Nah... If you live in the west it's still much more convenient in 99.9% of occasions to pay with a debit card...
October 09, 2023, 06:07:06 PM
There are some seasonal mass adoptions like when a country accepts Bitcoin thus revitalizing its investors to invest in Bitcoin ventures like creating companies that do cryptocurrency services t this mass adoption may not happen on a regular basis but it did once in a while especially when ther is a huge news about Bitcoin being accepted by a country or being integrated by large company.
The thing is there nothing can please everyone, there will always be opposition especially when someone tries to hold onto their old beliefs. Bitcoin is the future while these people who keep bashing Bitcoin are trapped in their old ways.
I agree with your point of view. Today I saw an influential stock investor claim, "Bitcoin is the biggest fraud in history and it is going to zero". There is still negativity about bitcoin in the market. The FTX scandal and the Luna crash made things worse. The market manipulation could be its all time high because of those gigantic asset managers who applied for bitcoin ETF. They have the assets and power to influence the market in their favor.
The thing is there nothing can please everyone, there will always be opposition especially when someone tries to hold onto their old beliefs. Bitcoin is the future while these people who keep bashing Bitcoin are trapped in their old ways.
October 09, 2023, 04:33:36 PM
I agree with your point of view. Today I saw an influential stock investor claim, "Bitcoin is the biggest fraud in history and it is going to zero". There is still negativity about bitcoin in the market. The FTX scandal and the Luna crash made things worse. The market manipulation could be its all time high because of those gigantic asset managers who applied for bitcoin ETF. They have the assets and power to influence the market in their favor.
You're not talking about Peter Schiff are you? If you are, bashing Bitcoin is just his schtick, it gained him a lot of popularity (there's no such thing as bad publicity) and he will never change his tune.
I don't think there is a dominating negative sentiment among the retail investors. If anything, I'd say the sentiment is more neutral. Since there's no dramatic price action, there's little coverage outside of the crypto-sphere and people move their interest elsewhere. But they're likely to be back when we see the price going up consistently.
October 09, 2023, 03:18:41 PM
I don’t think it’s mass adoption. How many of your friends are talking about bitcoin now? On wall street bets even everybody there thinks bitcoin is already dead.
This might be accumulation by the big whales but it’s not mass adoption of the retail public. That usually happens during smart bull markets when bitcoin ATH is broken and everybody rushes to buy bitcoin.
This might be accumulation by the big whales but it’s not mass adoption of the retail public. That usually happens during smart bull markets when bitcoin ATH is broken and everybody rushes to buy bitcoin.
I agree with your point of view. Today I saw an influential stock investor claim, "Bitcoin is the biggest fraud in history and it is going to zero". There is still negativity about bitcoin in the market. The FTX scandal and the Luna crash made things worse. The market manipulation could be its all time high because of those gigantic asset managers who applied for bitcoin ETF. They have the assets and power to influence the market in their favor.
October 09, 2023, 03:03:38 PM
Regarding massive adoption, it is likely that it is happening, but I don't know if throughout the world, many enter the bitcoin and cryptocurrency market for the need to make money, because they know that with the options of making money through fiat money Centralization is completely controlled by the banks, you cannot earn a lot of money, unless you are a great slave and that is not what you are looking for, I have seen many people who have been working in a company for years and when they leave they cannot buy themselves. not a house, not a car, nothing, so why do you work like that? Options must be sought, that is why it is adoption and governments have realized these things, that is why they are pursuing the goal of regulating everything related to bitcoin and cryptocurrencies.
October 09, 2023, 10:45:55 AM
I completely agree with OP but I think its observable. I can remember Bitcoin getting mentioned in deadpool movie (not exactly mentioned but logo shown as far as I remember) and everyone was like wow. Now Bitcoin is everyday life thing. I see it around local and global finance news all the time. I see people debating on it at all kinds of tv channels. it's really mainstream now. It was like hidden basement project of college student in past compared to global world issues. And I am also totally bullish.
October 09, 2023, 09:13:01 AM
4-year cycle theory is not related to it being a historical event, but rather a clear variable in supply. Since we assume that demand increases continuously, it is this sharp decrease in supply that leads to a change in the price and the accompanying rises. If we consider that the bottom price will be the average Bitcoin mining costs. We will find that the bottom will be around $30,000, and the top could be 5 times that, which means that the new ATH will be $150,000, which is what many expect.
This means that the average price for the coming years is $60,000, and from here we see technical analyzes calculating Bitcoin price cycles based on four years or a historical cycle.
This means that the average price for the coming years is $60,000, and from here we see technical analyzes calculating Bitcoin price cycles based on four years or a historical cycle.
October 09, 2023, 07:46:02 AM
This is tremendously bullish, showing the first signs of true broad adoption and how far cryptocurrency has come that we can even experience such euphoria in the midst of a bad market.
How is this a sign of mass adoption if the address growth only spikes during the peaks of a bull run, and then returns to normal? The chart shows that the grows rate goes up quite slowly, while the term "mass adoption" could imply exponential growth.
If anything, it's even a bit depressing that the spike of 2017 bull run is bigger than that of 2021 - not what you would expect from 4 years of mass adoption.
It's normal that many people will get attracted to enter when the price is getting bullish. They are FOMOing in short but this is a bad practice because they can get caught up with a bear market. Mass adoption isn't only about the price but what important here is that many people are now aware and are using cryptos. Things are going to be easy this way for us old crypto users.
October 08, 2023, 06:29:57 PM
Mass appeal yes and its true alot of the world now know of this product in their potential selection. If we want to say adoption then then this is not something dropped and unused, it would be more constant then that. At present people use then stop using BTC which isnt what I'd argue as adoption so much. We probably need for people to get interest or some reason to hold onto BTC to a greater extent then they do already.
My take on BTC progressing would be it occurs to a small extent by accident, there is the pocket lint argument where whatever you use you always retain a little bit by accident. So far thats more like whats happened (in mainstream not talking other more digital based people) but its still a positive despite being a very dismissive description, I do think by accident people will increasingly use & retain BTC then reuse but its far slower then this mass adoption dream scenario sadly. Still a long way to go yet.
My take on BTC progressing would be it occurs to a small extent by accident, there is the pocket lint argument where whatever you use you always retain a little bit by accident. So far thats more like whats happened (in mainstream not talking other more digital based people) but its still a positive despite being a very dismissive description, I do think by accident people will increasingly use & retain BTC then reuse but its far slower then this mass adoption dream scenario sadly. Still a long way to go yet.
October 08, 2023, 06:15:43 PM
We have to be honest with ourselves about some things, and that is that at least 95% of people who know anything about Bitcoin see it only as an opportunity to make money, and they don't want to invest in the long term, but are waiting for a sign that a big bull run has started.
The seeds to identify long-term Bitcoin holders seem somewhat obscured at present. However, I believe that many major institutions or individuals with substantial BTC holdings prefer the long-term investment approach. In terms of individual quantity, they may indeed be overshadowed by small investors seeking quick Bitcoin gains every day. But in terms of overall value, the disparity is glaringly apparent in the amount of BTC they possess.Estimating that only 5% of long-term Bitcoin holders exist appears overly conservative. It might more realistically range between 15% to 20% of the total holder population.
Jump to: