The Declining of Bitcoin Price has also a Decline in Consumers Interest?

locsta123

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Yea I think there are a lot of pissed off people that invested in Dec. (because they were blindly following the herd) it really kinda upsets me to see people act like that to me it seems kinda childish (oo i'm not received 1000% gains like everyone else did bitcoin is stupid bitcoin is dead yada yada).

But I think long term those people will be eating their words and wishing they would of invested now instead of complaining I think BTC won't get much lower than it is right now and it is still a pretty good buying price in the 6k-7k range. just my opinion

nydiacaskey01

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From the start of 2018, they say the reason why price of Bitcoin started to decline is because those who invested when price is surging to $19,500 USD started to pull out and go back to traditional investment which is stocks. Now that price is moving sideways most of the time, I think new investors would rather stick to what they have right now than pull out from their current investment and gamble on something new to them and not familiar.

timerland

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Quote from: ONDOYFLORES on September 26, 2018, 06:38:12 AM

It is difficult to say rather the low value led to a loss of consumer interest or the other way around Millennial people still have an interest to bitcoin,they
still embrace bitcoin. For Millennial's bitcoin and cryptocurrency could be the investment opportunity of a lifetime.

I wouldn't say that bitcoin's bear market has any direct ties to "consumer interest".

What we are experiencing right now is simply a natural part of the market, which is a correction after a bull market. There is absolutely nothing out of the ordinary, and this has happened before with the 2014 bear market happening after the 2013 bull market which saw ATH price levels as well.

I'd say that 90% of actual bitcoin adopters(that is people that aren't just around in the bull market to make money) are still holding onto their coins and demonstrating interest in bitcoin, they're not just all of a sudden not interested anymore. Besides, institutional interest within bitcoin is at an all time high as well, so there is absolutely nothing to worry about.

kwakufavour

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Bitcoin is not a get-rich-quick scheme. It is also not an 'investment' but a currency though there is more to it. This is the time when more people must even have interest in the coin and purchase more not when it is at its peak and expensive.

zazarb

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So it's true that the interest of people is diminished, because people are hoping for a quick job, and now in bear market they are pulling because they are afraid of losing more money. But when the price starts to rise, the same people who are now going to go out of this market. So it's just a temporary loss.

lauder_larger

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Quote from: wuvdoll on October 02, 2018, 12:22:06 PM

Quote from: YuginKadoya on September 30, 2018, 01:56:55 PM

I will surely agree that if you think further in the past the price has really grown quite far, And in my opinion, It is still at large we can see that this value is still big compared to 2014 up to 2015 bear market, But I don't see why certain people will have disappointment over their investment in 2017 but maybe because of their involvement during the bull run back then, But right now the price is only at $6,600 compared to the 2017 that almost increased to $18k Well I don't blame them but I really think they will need patience in calming down a bit because the price will surely increase for another year to come.

A lot of people are not really focused on the long term because they do not want to imagine the benefit they stand to gain in the long term, when real life usage and adoption kicks in, which is the reason why they do not always have the patience to understand why a bear market is even important to buying for the long run and why they should be taking advantage of it.

Interest will always decline when you approach to something is not met, and in this case, the approach of a lot of people is to get rich quick, and obviously since a lot of them got greedy, joined FOMO and now regretting they did, their interest will surely drop because they have no vision as to what the future could end up holding.

It is natural when I am not earning money from bitcoin I will definitely withdraw my money or convert to Altcoin. Staying without any profit is just waste of time and money. I want profit against my investment and if there is no profit then there is no need to hold my coins. If someone guarantees the rise in the future then I will stay here but it is not possible.

Ronyx

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Of course that is true, for people who are new to bitcoin it will experience a decline in interest because bitcoin falls low from the highest price in 2017, because they fear bitcoin is increasingly falling and lost.

realBitcoiner

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Quote from: YuginKadoya on September 30, 2018, 01:56:55 PM

Quote from: zhekinsp on September 30, 2018, 02:03:42 AM

Bitcoin prices were grown pretty much when compared to couple of years back and the people who invested as 2017 end will be dissappointed for now because the prices were crashed very much but they need to remember that the prices will increase on long term so they need to hold until their desired prices to reach.But for now I don't see much people left the bitcoin but they are afraid to spend that is why the blockchain network is free for now.

I will surely agree that if you think further in the past the price has really grown quite far, And in my opinion, It is still at large we can see that this value is still big compared to 2014 up to 2015 bear market, But I don't see why certain people will have disappointment over their investment in 2017 but maybe because of their involvement during the bull run back then, But right now the price is only at $6,600 compared to the 2017 that almost increased to $18k Well I don't blame them but I really think they will need patience in calming down a bit because the price will surely increase for another year to come.

Yeah it is right because most of the investors quit bitcoin because they lost their money due to big fall in the price. Now people are looking at the end of the year and hope that the price will grow again like the previous year, but I think that it would not happen again and the price would increase gradually with market cap. When there are no investors how the price will increase?

tomahawk9

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Quote from: davis196 on September 30, 2018, 12:34:47 AM

Quote from: ONDOYFLORES on September 26, 2018, 06:38:12 AM

It is difficult to say rather the low value led to a loss of consumer interest or the other way around Millennial people still have an interest to bitcoin,they
still embrace bitcoin. For Millennial's bitcoin and cryptocurrency could be the investment opportunity of a lifetime.

The millennials usually have small savings and big debts.Just don't rely on them to push the bitcoin price up.

Perhaps in the short-term, but for the long-term is quite a different story. Millenials tend to accept new technologies and are prone to accept what Bitcoin offers, a decentralized system where you can be your own bank. Once Bitcoin goes full mainstream, expect a lot of capital from milenial as they will be the first ones to embrace cryptos as the new system to pay for stuff online. It might not happen as soon as we expect, but give it a few more years and they'll definitely push the price up as adoption becomes the new thing.

carter34

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Quote from: naidray on September 29, 2018, 10:45:42 AM

This kinda shows us that the price stagnancy or price decline results with less people interested in crypto and price going up means more interested people, but it could be vice versa as well.

I think this is a fact. People getting more interested in thriving market. This is why we had so much rush in December that eventually got so many people losing money. The higher the trade volume attracts more traders.

prtty2gal2

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Quote from: nidacoinlove on September 30, 2018, 01:05:48 AM

Quote from: bitbunnny on September 28, 2018, 12:44:36 PM

Unfortunately, majority of Bitcoin users are mainly attracted only by the price. Just rare are also interested in philosophy and way of life that is behind Bitcoin like freedom, independency from banks, using the new technologies.
Because of that reason many abandon Bitcoin when price is low, especialy for a longer period of time. But such users are those who are only motivated by profit and nothing else.
Still I beleive Bitcoin has a core of the faithful users who will support it no matter the price. At least not only because of the price.

It could be better explained as a large number of people appreciating Bitcoin has not accepted it's real world use which ultimately refers to a zero interest in the blockchain technology. They only like it for if they could earn some money with it same like they treat other commodities to invest and earn. This attitude is damaging for both Bitcoin and such kinda people. I think those who don't accept and implement the idea and only run for earnings will soon be kicked out of the system. In fact they may run out of here.

Right! And that real world usage is what would really make a whole lot of people concentrate more on the real thing and not place so much focus on just the value or price in the short term. As long as the wrong idea about getting rich quick still keeps playing in people's head, this is something we will always get to see.

Consumer’s interest declining most of the time is because they tend to focus more on the idea of the price increasing over time to get rich and normally, when that is the mindset you have as an individual, it is normal to see declination in interest.

wuvdoll

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Quote from: YuginKadoya on September 30, 2018, 01:56:55 PM

I will surely agree that if you think further in the past the price has really grown quite far, And in my opinion, It is still at large we can see that this value is still big compared to 2014 up to 2015 bear market, But I don't see why certain people will have disappointment over their investment in 2017 but maybe because of their involvement during the bull run back then, But right now the price is only at $6,600 compared to the 2017 that almost increased to $18k Well I don't blame them but I really think they will need patience in calming down a bit because the price will surely increase for another year to come.

A lot of people are not really focused on the long term because they do not want to imagine the benefit they stand to gain in the long term, when real life usage and adoption kicks in, which is the reason why they do not always have the patience to understand why a bear market is even important to buying for the long run and why they should be taking advantage of it.

Interest will always decline when you approach to something is not met, and in this case, the approach of a lot of people is to get rich quick, and obviously since a lot of them got greedy, joined FOMO and now regretting they did, their interest will surely drop because they have no vision as to what the future could end up holding.

YuginKadoya

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Quote from: zhekinsp on September 30, 2018, 02:03:42 AM

Bitcoin prices were grown pretty much when compared to couple of years back and the people who invested as 2017 end will be dissappointed for now because the prices were crashed very much but they need to remember that the prices will increase on long term so they need to hold until their desired prices to reach.But for now I don't see much people left the bitcoin but they are afraid to spend that is why the blockchain network is free for now.

I will surely agree that if you think further in the past the price has really grown quite far, And in my opinion, It is still at large we can see that this value is still big compared to 2014 up to 2015 bear market, But I don't see why certain people will have disappointment over their investment in 2017 but maybe because of their involvement during the bull run back then, But right now the price is only at $6,600 compared to the 2017 that almost increased to $18k Well I don't blame them but I really think they will need patience in calming down a bit because the price will surely increase for another year to come.

BrewMaster

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real "consumer interest" is not something you can even measure to now talk about whether it is has decreased or increased. in other words what you are saying here is complexly guesswork. and mostly it is based on the trading volume which is not as high as the peak but it is still high which brings us to your second mistake that is thinking it has declined whereas it is still the same if not grown more.

zhekinsp

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Bitcoin prices were grown pretty much when compared to couple of years back and the people who invested as 2017 end will be dissappointed for now because the prices were crashed very much but they need to remember that the prices will increase on long term so they need to hold until their desired prices to reach.But for now I don't see much people left the bitcoin but they are afraid to spend that is why the blockchain network is free for now.

nidacoinlove

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Quote from: bitbunnny on September 28, 2018, 12:44:36 PM

Unfortunately, majority of Bitcoin users are mainly attracted only by the price. Just rare are also interested in philosophy and way of life that is behind Bitcoin like freedom, independency from banks, using the new technologies.
Because of that reason many abandon Bitcoin when price is low, especialy for a longer period of time. But such users are those who are only motivated by profit and nothing else.
Still I beleive Bitcoin has a core of the faithful users who will support it no matter the price. At least not only because of the price.

It could be better explained as a large number of people appreciating Bitcoin has not accepted it's real world use which ultimately refers to a zero interest in the blockchain technology. They only like it for if they could earn some money with it same like they treat other commodities to invest and earn. This attitude is damaging for both Bitcoin and such kinda people. I think those who don't accept and implement the idea and only run for earnings will soon be kicked out of the system. In fact they may run out of here.

davis196

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Quote from: ONDOYFLORES on September 26, 2018, 06:38:12 AM

It is difficult to say rather the low value led to a loss of consumer interest or the other way around Millennial people still have an interest to bitcoin,they
still embrace bitcoin. For Millennial's bitcoin and cryptocurrency could be the investment opportunity of a lifetime.

The millennials usually have small savings and big debts.Just don't rely on them to push the bitcoin price up.
The "consumer interest" around bitcoin is lower,but this is something good actually.Most of the people that left the community and sold their bitcoins after the price went down are not reliable.They were here only for the money.Bitcoin can't have a steady growth with the support of such "consumers".

1Referee

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Quote from: naidray on September 29, 2018, 10:45:42 AM

According the to 24 hour volume of the exchanges on the coinmarketcap data the answer to your question is clearly a yes. People were investing and trading like crazy during December months and the low prices we have right now has lower 24 hour volume as well.

The reason the volumes have gone down isn't only because less people are trading, but also because of the 'lower' price.

100,000BTC volume @ $15,000 per coin is $1.5 billion in total.

100,000BTC volume @ $6500 per coin is $650 million total.

As you can see, it's quite a difference while the BTC volumes have remained exactly the same. On top of that, hype volume is never a good indicator because it never lasts long, so technically speaking, the current volumes based on 'genuine' demand are perfectly normal. In other words, it's not low at all, just like how the current price isn't low. We are exactly where we should be right now.

naidray

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According the to 24 hour volume of the exchanges on the coinmarketcap data the answer to your question is clearly a yes. People were investing and trading like crazy during December months and the low prices we have right now has lower 24 hour volume as well.

Back a week ago when ripple increased like hell and everything else also followed it a bit even tho maybe not as much the volume spiked up a lot, meaning when the volume goes up the prices go up as well. This kinda shows us that the price stagnancy or price decline results with less people interested in crypto and price going up means more interested people, but it could be vice versa as well.

Pursuer

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"price" has always only attracted one type of people and nothing else. and that is speculators. in which case they do NOT care about whether price is rising or falling, they only care about making money and nowadays it is possible and also easy to make money from both rising price and falling price thanks to all the marginal trades and futures,...

"consumers" also care about the price but they mostly care about bitcoin and its functionality as a currency and that has only been improving despite some hiccups on the way which means the "consumer interest" should have continued to grow.

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