The Declining of Bitcoin Price has also a Decline in Consumers Interest? - page 2.

hispout

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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.

It is correct that decrease in price will make people to stay away of it for sometimes till increase in price but they think that decline means that source can collapse, it is actually a wrong perception. They should think productively, they have two big benefits; one is here right now if they get the Bitcoins on low price and one is later that will end up investment as a result of maximum profit.

BitHodler

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

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 surely has. It's very important to understand that if everyone here accepted Bitcoin for its technology and how it stimulates people to distance themselves from banks and whatnot, the price would be over $100,000 already.

I'm thankful for how I can still freely accumulate as many coins as possible at current rates, and I'll continue to do that for as long as I can financially maintain it. People's ignorance is our gain, never forget that.

That being said, hype and price related activity and interest is quite important as well. It's crypto's only way to reach the mainstream audience, and those who are really serious about the technology and decentralization will stay for ever.

All the speculative noobs will vanish eventually.

bitbunnny

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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.

The Sceptical Chymist

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Quote from: ngalamunan on September 26, 2018, 06:42:00 AM

yes, it is very certain that the price of bitcoin has dropped and more and more people are leaving bitcoin.

That's absolutely not true. Does your crypto-memory extend as far back as 2015 when bitcoin was around $300? How about in 2009 when it was basically worthless. Look where it is now--one bitcoin is worth about $6500 and there's more interest in crypto than ever before. Hell, bitcoin even consistently gets mainstream media coverage, which isn't even skeptical anymore (for the most part).

Millennials, for better or worse, are the future of bitcoin. They're the ones who are quick to embrace any new technology, and if there's any group of people who are going to advance crypto, it's going to be them. Old farts like me are just along for the ride, trying to make a little money here and there.

vintages

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Well, it's kind of. What do you expect, we humans will always be human. We are always looking for what will give us immediate money and this is where the problem lays. Investors and every cryptocurrency enthusiast should understand that cryptocurrency investment particularly Bitcoin is not a 'get rich quick scheme ' it may take time for gain to come but it will surely do.

bobo012

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People who know what bitcoin are still a consumers. Recent inflow of people in the late 2017. was purely speculative and filled with people that dont know what bitcoin or crypto is anyways. They just wanted to profit quick, and that wont happen.

bintangkejoraku

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and also caused by investors who do not dare to invest long term. currently investors choose to invest short-term to make a profit.

St4yInTh3D4rk

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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 people who can't accept the price decrease won't be successful because he price of bitcoin always volatile in nature and when the price keeps dumping then we need to buy more so we can make profits when there is rise in the prices.If we keep selling when the price low and then buy again when the price increase will never make profits for you.

candra raditya

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Bitcoin is down and it makes some investors step out because they think bitcoin has slowed down in making profits, because basically the profit is the main point.

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The face of the reality, people were only coming into crypto for profits and didn't care about the different technologies behind. With the current market since January, they're living so. Which is a good thing, only the true believers will stay and those will be the real users
not bad...

r32godzilla

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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.

This slow price movement in bitcoin is actually good for bitcoin's progress as we could see more speculators and newbies who just saw bitcoin only to be a high ROI giving asset have almost let the bitcoin market. Remaining investors either have an idea of holding bitcoin on a long-term basis or they show interest in using it for payment options.A slow rise in price is much better than a quick rise and a sudden fall.

buwaytress

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You've got some conflicting terms right there, and this is part of the "problem". What's a Bitcoin consumer to you? Someone who uses Bitcoin daily? Someone who "invests" in it like the millennials you seem to be talking about? Someone who buys Bitcoin on an exchange and leaves it there? Because embracing Bitcoin can mean a lot of things. It could mean embracing Coinbase at the worst end of the spectrum.

Mainstream interest definitely has a correlation. Google search trends are one evidence. Price is high, so is the interest with online searches.

But consumer interest has never been higher. Actual users are growing, merchant adoption is rising.

Harlot

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You are by now speaking the very aspect of the relationship between the price and it's demand, you are somehow right as price of Bitcoin is somehow related to demand for it, an increase in price would simply mean that there is an increase in demand and a decrease in its price means that the demand will decrease as well. Demand is equal to consumer's interest and it is always there during the price movement of BTC and even though the interest decreased it will still increase when the price of BTC will go up as well it doesn't permanently go away if that is what you are thinking.

1Referee

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Every aspect of this industry suffers during a bear market. The thing with average joes is that they need a market to consistently keep increasing in order to feel comfortable and have enough confidence to start investing or trading. They enjoyed the ride up last year, and have taken a long break on the way down. They will come back as soon as we start to approach the psychologically important $10,000 level, which will surely generate plenty of mainstream media air time all over the world.

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

For Millennial's bitcoin and cryptocurrency could be the investment opportunity of a lifetime.

They are far too blinded by ignorance and short term gain greed to realize that unfortunately. These people are called dumb money for a reason. No one can help them.

Hivalley

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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 round

I do not think the interest in bitcoin suffered any loss whatsoever,everyday more and more people get involved in cryptocurrency as investments and trading rises,bitcoin is also being endorsed in numerous nationalities and works of life

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

For Millennial's bitcoin and cryptocurrency could be the investment opportunity of a lifetime.

I do not think investments in bitcoin hinges on age brackets whatsoever,bitcoin remains a currency for the moment and the future,most traders even buy bitcoin and hodl never to touch it,so as their future generations could inherit them..

ngalamunan

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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.

yes, it is very certain that the price of bitcoin has dropped and more and more people are leaving bitcoin. everyone just wants to get profits instead of losses. the solution is he needs needs.

ONDOYFLORES

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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.

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