The problem is that it could take again many years to recover - page 4.

mrongoz_imut

hero member

Activity: 1232

Merit: 500

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

Yes need four year but when bitcoin above $10,000 look easy make new all time high, maybe support with many project and company make bitcoin dominance in global economic. How ever if bitcoin only have investor impossible can make new all time high for bitcoin price, have company want to publish with investing and accepting bitcoin make all people now believe and hold bitcoin.

izsara

member

Activity: 924

Merit: 15

very nice.
it may take a little longer if we look now to reach new ath but we all already understand because everything also takes time it takes a process to achieve this. because what I apply while in bitcoin is patience. there is nothing instant in becoming rich.

DigitalFox

member

Activity: 280

Merit: 28

Quote from: Alucard1 on April 22, 2021, 01:50:33 AM

You compared different years and a lot of things have already changed, we won't get back to the old days as what happened in the year 2017, there are already a lot of factors that make bitcoin reach the new ATH, there are a lot of people are now being involved so I don't think that we can see again the things that happened before, a lot of companies and countries are now involved with bitcoin and actually, the mass adoption is now happening little by little, and if the bitcoin will be accepted worldwide then bitcoion could go higher and higher.

I wouldn't be so sure. Yes, now we're looking at completely different picture comparing to 2017-18, but it won't stop btc from a massive drop. Maybe not as sharp as in was in 2018, but I can see it losing 50-60% of it's current value.

Alucard1

full member

Activity: 574

Merit: 125

You compared different years and a lot of things have already changed, we won't get back to the old days as what happened in the year 2017, there are already a lot of factors that make bitcoin reach the new ATH, there are a lot of people are now being involved so I don't think that we can see again the things that happened before, a lot of companies and countries are now involved with bitcoin and actually, the mass adoption is now happening little by little, and if the bitcoin will be accepted worldwide then bitcoion could go higher and higher.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

It's only a problem if you are an impatient person who wants to make a lot of money at a short timeframe. Think about it, if it takes long to recover then you will have more time to accumulate more bitcoin so when the time that it recovered, you will have a bigger profit because you hodl large amount of bitcoin over the course of the recovery of the bitcoin prices.

AniviaBtc

sr. member

Activity: 1120

Merit: 272

First 100% Liquid Stablecoin Backed by Gold

That's why patience is one of the most vital traits that you should practice in a bitcoin investment.

Also controlling your emotion is needed, you should not panic and become sad about the fall of bitcoin's price. Remember that it is volatile in the market and can increase or decrease its price depending on the factors that can affect it. Also practice fundamental and technical analysis so you have expectations and everything is under control.

Maybe in mid 2021, bitcoin's price will surpass the ATH we never know.

Twentyonepaylots

sr. member

Activity: 1848

Merit: 370

Things like this happen not only with bitcoin but to almost all of assets out there, and people who have invested in bitcoin and are wise enough to see what this is all about know for a fact that as long as we get a confirmation that we'd be getting a new ATH or at least recover, we're good. Bitcoin isn't your everyday get-rich-quick scheme, regardless of what people who brought you in have told you, as one guy in this forum said you'd have to invest your time, more than your money because bitcoin is a long-term investment.

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Doesn't matter. The fact that we can expect an ATH, is good news in itself. The ones that see the long wait as a problem are the people who sees bitcoin as nothing but a get-rich-quickly scheme which it certainly isn't. You'd have to invest both your time and money here if you want good gains. Otherwise if you're just looking for another scheme that promises you profits and then pulls a 360 on you then I'll gladly show you the way out.

pixie85

hero member

Activity: 2128

Merit: 524

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

So should this be the major, expected drop, it could again take many years for BTC to reach 100k.

I don't really care as long as it gets there.

Inflation is taking away my hard earned savings. I'm much better off holding Bitcoin even if it goes back down to 20 thousand and takes 5 years to reach 100.

You're overthinking it. If you knew your money is going to multiply would you let that opportunity pass and just hold it in a bank that takes 3% each year?

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: Oasisman on April 21, 2021, 05:27:59 PM

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

Man, you cannot compare every bullrun from 2017. It was completely different.
Have you seen many institutions, big names, and companies coming in in 2017?
Have you seen ICO's trying to pump everything in crypto market these days?
Absolutely no.
Before we end this 4 year cycle, we're already passed $100,000.
And we're not in a major retracement, we're still in a bull season. Until the strong support don't break, we're not seeing any major retracement.

You cant really blame out people to have those kind of emotions and perceptions towards the market thats why they do keep trying to connect on what happened in the past.
For now we can bit assure that market wont really be crashing soon because if we do consider on how many strong supports are there then its really hard to
tell that it would be breached or break out if a certain drop happens but we have seen on that recent drop that we didnt get past below 50k
which is a solid indication.

Oasisman

hero member

Activity: 2590

Merit: 549

Rollbit

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

Man, you cannot compare every bullrun from 2017. It was completely different.
Have you seen many institutions, big names, and companies coming in in 2017?
Have you seen ICO's trying to pump everything in crypto market these days?
Absolutely no.
Before we end this 4 year cycle, we're already passed $100,000.
And we're not in a major retracement, we're still in a bull season. Until the strong support don't break, we're not seeing any major retracement.

judas

sr. member

Activity: 1064

Merit: 350

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

It's hard to predict but I don't think it will take so long to recover and go back to 60k dollars again. It looks like it will stay at these levels for some time though. As long as we don't see a very serious drop again soon, the probability for a recovery will be higher I think.

arabspaceship123

full member

Activity: 714

Merit: 160

I'm a web developer. Hire me for your work.

I'm sharing your opinions I don't care about charts. Too many look for quick gains by buying and selling fast believing what economists publish but traders who've held long term haven't lost out on Bitcoin and aren't going to. Those tempted to trade early might live to regret it when Bitcoin closes in on $100,000

Quote from: DigitalFox on April 21, 2021, 12:46:47 AM

Yes, it might take a "long time" to recover after price drop, but so what? Those who are looking for quick gains will be burned, those like me who don't care and don't sell will look at the chart and say - ah well, there it goes again. And then we'll keep accumulating it like we always do.
It's very tempting to try and catch the market to increase my btc holdings but I rather take it steady and slow without trading. Well, maybe for a small fraction of my holdings.

AakZaki

legendary

Activity: 2268

Merit: 1074

zknodes.org

Although it will take many years, some Bitcoin investors or holders will have their own strategies. They will hold a portion of their bitcoins to hit the next ATH target.

But at the moment it is still not certain that the decline in bitcoin this time will be a full decline like in previous bearish years. More and more investors are coming in, a lot of big adoption is being made to bitcoin. The era of bitcoin is advancing, of course, some history will change and it will not be the same as the previous history.

jjdub7

hero member

Activity: 938

Merit: 502

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

I don't know why you're talking about a recovery, when the price of Bitcoin has only been on an upward trend since the beginning of the year. On January 1, Bitcoin was $ 46,000.

The only time BTC was around $ 54,000 was again in March this year and such market corrections are normal.

Kittygalore

member

Activity: 868

Merit: 63

Quote from: DigitalFox on April 21, 2021, 12:46:47 AM

Yes, it might take a "long time" to recover after price drop, but so what? Those who are looking for quick gains will be burned, those like me who don't care and don't sell will look at the chart and say - ah well, there it goes again. And then we'll keep accumulating it like we always do.
It's very tempting to try and catch the market to increase my btc holdings but I rather take it steady and slow without trading. Well, maybe for a small fraction of my holdings.

Who says that it will take a long time, there is no such thing as accurate oracles so I don't believe that what OP is saying that 1 million is not possible in our timeline. Good thing that I don't get a lot of bitcoin yet so I really don't pay no mind about trading it.

DigitalFox

member

Activity: 280

Merit: 28

Yes, it might take a "long time" to recover after price drop, but so what? Those who are looking for quick gains will be burned, those like me who don't care and don't sell will look at the chart and say - ah well, there it goes again. And then we'll keep accumulating it like we always do.
It's very tempting to try and catch the market to increase my btc holdings but I rather take it steady and slow without trading. Well, maybe for a small fraction of my holdings.

Henrobakkara

full member

Activity: 1512

Merit: 115

Quote from: goldade on April 20, 2021, 05:27:28 PM

Just because the bearish run of 2018 was so severe that bitcoin bits $3000 from its then ATH doesn't mean the same will happen with the correction happening with bitcoin.
This is nothing like that. This is just some market correction and will soon blow over. Believe me you, posts like this will only make people panic and then they panic-sell.
If you've got bitcoin, don't sell yet. Just keep on hodling

I believe that if there are going to be panic sellers those will mostly be newbies but for those that have been in the system and understands the dynamics of what the market is now and the kind of investors that have come to invest in Bitcoin, this correction wouldn't move them much instead, it will also server as some profit making as most will buy the dips again.

xSkylarx

hero member

Activity: 2352

Merit: 593

Quote from: Tekunda on April 19, 2021, 06:04:03 AM

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

A massive correction like that is not likely to happen again because many big institutions already invested in bitcoin and more countries now starts to adapt the use of digital currencies unless there is a big fud that can result for bitcoin to have 80% correction again. The ATH way back 2017 is purely driven by hype, now there are many fundamentals that support bitcoin is a good investment to have. All of us are afraid for that to happen again and since we experienced it, we should be prepared if that happens again.

oktana

sr. member

Activity: 1582

Merit: 281

Eloncoin.org - Mars, here we come!

Hmm... Bitcoin is only started and you're talking about years. Believe me, bitcoin has the potential of reaching 100k within the next 1 year. Mehn people are trooping in on a daily basis! and yes, It may have some ups and downs before getting to 100k but, it'll be like a dream to you Wink

Topic: The problem is that it could take again many years to recover - page 4. (Read 1050 times)