The problem is that it could take again many years to recover - page 6.

CLS63

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

You are missing a point. This big decrease in the price doesn't mean that we won't see a big surge soon again.

On February 21, the price was around $57k. After only one week, it decreased very sharply to a level around $43k. But in only two weeks, it recovered highly and reached even $60k.

So, we don't know what can happen. We can see a similar thing and the price can reach a new ATH too.

kryptqnick

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

You're right that the price might explode again and be followed by years of stagnation at a very low price level. However, I don't think it's really a problem. That's just how Bitcoin is, and it still manages to move forward. It takes 5 steps ahead and then makes 3 steps back, but after some time it makes another round of 5 steps ahead, so the overall tendency of Bitcoin's price growing remains very visible over the years. If Bitcoin doesn't fall below $10k this time, it will be a big accomplishment. If it stays above $20k, that will be very impressive. In any case, the price isn't the most important thing.

acroman08

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bitcoin literally had 3(not including this one) price dip this year and each time it dipped it would reach a new ATH, what makes this recent price fall so special that I see people already making assumptions that bitcoin will crash? also, I don't see why is it a problem if bitcoin would require years to recover if its price suddenly crash.

isaac_clarke22

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Well thing is that nobody knows as well how long should we wait.
Nobody knows what is in the mind of the investors and even whales if they would even try to take the opportunity or just completely get out of crypto at all, unless someone has the proper statistics on that kind of matter or topic.
Years is a quite a long time actually, OP.

Henrobakkara

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Quote from: Tekunda on April 19, 2021, 05:04:03 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 lot of people are already dead between yesterday to today and that dont have anything to do with whether Bitcoin will get back to $100k before a proper bear market or not. However it is not any time we see a correction, we scream bear market, all this shift are expected in the crypto market and if it so turned out to be the real Bear trend, then you know you most have been preparing for it all the while you where trading and dont be caught up. Lets not forget that this season, there where more Institution Investment into Bitcoin and other cryptos and I am hoping that this will change the nature of the length of the bear market if it does commence.

Kasabus

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Quote from: Iranus on April 19, 2021, 12:54:48 PM

Quote from: Tekunda on April 19, 2021, 05:04:03 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.

What situation makes you think like this? is Bitcoin breaks its support area? isn't Bitcoin bounced from here anytime? Even when Bitcoin was dumped in 2017, many said that Bitcoin would never be able to cross the previous ATH. Proving everyone's idea wrong, that bitcoin has now reached the quota of 60,000. Nothing is impossible for Bitcoin. Epidemics like COVID-19 has not been able to stop this growth of Bitcoin. So don't spread rumors, work for Bitcoin adoption and validation. It is hoped that Bitcoin will be officially accepted by Govt and Bank soon.

Maybe the OP gets too emotional of this btc dropdown of price. But don't forget that bitcoin has always its roller coaster price changes because of its high volatility so we cannot expect that bitcoin will always stay on top. The price will definitely drop down like we have witnessed now. For old traders, this is not something new to worry about but for beginners, this will be a big threat for them to come up with panic selling.

fiulpro

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

But doesn't it give you the perfect opportunity to buy ? At the same time the big whales in the market are not going to sell right now for sure. What they have Invested in bitcoins is far too big to loose. They will keep on waiting for the time the BTC reaches an ATH again or at least near the previous one. So we should tread carefully around that point in the market, since this is not always going to be a good decision. Do keep a check on the market and be careful of the Manipulations. Holding is the way to go we have seen this time and again, I do think people would not just jump out due to a small downfall which is to be expected since the pandemic is literally stretching a lot. Let's see how it goes. The future is bright , it does not matter what the price is.

Iranus

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

What situation makes you think like this? is Bitcoin breaks its support area? isn't Bitcoin bounced from here anytime? Even when Bitcoin was dumped in 2017, many said that Bitcoin would never be able to cross the previous ATH. Proving everyone's idea wrong, that bitcoin has now reached the quota of 60,000. Nothing is impossible for Bitcoin. Epidemics like COVID-19 has not been able to stop this growth of Bitcoin. So don't spread rumors, work for Bitcoin adoption and validation. It is hoped that Bitcoin will be officially accepted by Govt and Bank soon.

Woodie

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

Are you implying any major retracements will take 4 years to make new highs??

I don't think so, FYI you can't compare how the crypto markets were back then when we had less player's on the market that could provide the liquidity to push markets high to what we have today, and afaik we have more people around the world aware of crypto which is a big plus and coinbase going public is another plus which will add to the crypto markets growth.

Bitstar_coin

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Quote from: aoluain on April 19, 2021, 06:20:11 AM

Again, an irrational comparison between 2017/2018 and 2021/2022. The two time frames
are different, there is a different mix of people involved now compared to 2017. As @Lucius
has commented there are institutional investors in Bitcoin now and in 2017 there were none.
Institutional investors for the most part are using Bitcoin as a hedge against inflation, they
are not thinking of selling Bitcoin back into the very thing they are escaping.

There are plenty of people who are predicting that there wont be a bear market.

This is what many fail to understand, 2017/18 was then while 2020/21 is now, and from the look of things more influential investors are in btc now than before, they will dip that is inevitable but it won't be as bad as back in 2017 neither will it take that long to recover or go to the next ath,
People will continue to trade and buy btc, they won't seat back and wait for the next 4 years before engaging in crypto.

hatshepsut93

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If that's a problem for you, then simply don't buy in the bull market, unless for short-term speculating, and accumulate coins during bear market. A lot of investors who joined in bull run are likely going to take profit during the run, instead of hodling for years and experience a crash like in the past. Risk and opportunity always go hand in hand, the point of investing is to find investments that have more opportunities than risks.

jakelyson

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Quote from: Tekunda on April 19, 2021, 05:04:03 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.

Probably true. Considering we will all be dead before the last bitcoin will be mined, then it is also possible that most of us are dead when it reaches a million dollar a piece. But since we also were here when it is just a few cents a piece, it is just fair.

These retracements is like a cycle in bitcoin. Just make the most out of it. Buy when it retraces and don't just wait for it to reach new ATH.

7788bitcoin

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Quote from: Tekunda on April 19, 2021, 05:04:03 AM

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.

If you think that you will be dead by the time bitcoin reaches a million dollar then it is a different emotion Tongue

. You cannot reach the conclusion that we are on the verge of a major correction as the market is showing signs of recovery and one thing i do think is that if there is a major correction then we should wait for another 4 years for the market to rally again. You need patience to make money and if you have that you are bound to be successful and probably make a fortune.

Lucius

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Quote from: Tekunda on April 19, 2021, 07:24:26 AM

I don't think it has to do with being naive, if I state that - should we have entered a bear market indeed - it might take many years for a recovery.
I joined this forum in 2017 at the height of the 2017 euphoria, only to see the drop to $3700 and a long recovery phase.
I don't know if this drop is just a correction,or if we experience the same as in 2017/2018, but if we have entered a bear market, we can expect to see the same picture we experienced from 2018-2021. That was all.

I don’t know why someone is constantly going back to 2017 or 2018 and comparing it to 2020 or 2021 - and even if someone wants it then it’s completely wrong - because 2017 was the peak that followed the 2016 halving - and by that 2021 by no means can not be a year to expect what happened in 2018 - because as I wrote in a previous post, halving was less than 1 year ago.

What you call the bear market has happened several times this year, so I will give you some dates that prove it.

- February 21, 2021 - $57 700 -> February 23, 2021 - $47 600
- March 14, 2021 - $60 700 -> March 16, 2021 - $54 900
- March 24, 20121 - $57 000 -> March 25, 2021 -$50 900
- April 14, 2021 - $64 300 -> April 18, 2021 - $54 600

Source

Given the data I have shown you and given that the market is slowly recovering, can you now conclude that what happened yesterday is nothing new and does not deserve any panic or comparisons with 2017/18?

dkbit98

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Quote from: Tekunda on April 19, 2021, 05:04:03 AM

Many people will be dead before BTC will reach 1 mio.

So what?
Around 100,000 people die every day worldwide and almost none of them are thinking about Bitcoin, bear market, recovery or reaching new all time high, and you don't have some crystal ball to predict anything about future.
Correction in Bitcoin is expected to happen at some point and everyone will know when it comes, but I don't think you have to worry about it since you are mostly active in altcoins since 2017.
Zoom out when you look at Bitcoin chart.

Fundamentals Of

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Quote from: AmoreJaz on April 19, 2021, 07:14:29 AM

Quote from: Fundamentals Of on April 19, 2021, 06:50:54 AM

If you think this is the way that Bitcoin is going to take then sell your Bitcoins and have a life away from it. But if you don't care to die before Bitcoin will reach $100,000, then leave your Bitcoins to your family. In that way, you are saved from all kinds of worries and anxieties that are obviously troubling you now. You seem to be very emotional and without patience. Bitcoin is not for you if this is how you react every time Bitcoin goes through a correction.

what more can i say? i dont know why some people think that bitcoin seems to be at the dead end, just because it has this kind of drop? and the price is still more than 50k, which i think he has only seen this year. but people are complaining when this situation occurs and conclude something negative. definitely, it will happen as correction is necessary in the market. guess, some people just want btc to increase forever. if they feel this market is causing them anxiety or distress, yeah, better get out and encash your btc Roll Eyes

People are extremely greedy. They seem to want Bitcoin to just increase forever no end. They seem to treat Bitcoin as a mere money making machine that should not stop giving them easy money. What the heck!

March started with Bitcoin at $45,000. We are still in April. There is a correction which pulled Bitcoin's price down to around $53,000 and someone is already talking of a major drop from which Bitcoin would take years to recover. Such a joke! A big correction at $53,000 is something we should even be thankful of.

Beparanf

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The difference was, A lot of big player such as billionaires, company and institutional investors are already involve in cryptomarket compared to 2017 bull run which is purely hype by influencers and some famous people like McAfee. The current market is supported by an organic volume and not by a bubble volume. You can notice that whenever there is a massive sell off, Bitcoin always manage to recover strong since it break the 20k ATH of 2017.

Tekunda

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Quote from: Lucius on April 19, 2021, 06:06:03 AM

I would expect a post like this from a complete beginner, but not from someone who has been a member of the forum since 2017. The cryptocurrency market is not as stable as, say, the gold market, so everyone should accept sudden price changes and not start immediately with stories that a bear market is starting.

We are in less than 1 year after halving, and in a year when institutional players are entering huge amounts of money into Bitcoin, so the best is yet to come. Consequently, all those who want a more cheap BTC do everything in their power to create fear, uncertainty, and doubt (FUD) and thus lower the price. Judging by the comments I read yesterday and today, they succeeded in that - so everywhere we have questions about how long the bear market will last - and we are in the middle of a bull market that has experienced only a minor correction.

Recover from what? So at the beginning of the year the price of 1 BTC was around $30 000 - who with a little common sense can say that $55 000+ is not more than a satisfactory price at the moment?

I don't think it has to do with being naive, if I state that - should we have entered a bear market indeed - it might take many years for a recovery.
I joined this forum in 2017 at the height of the 2017 euphoria, only to see the drop to $3700 and a long recovery phase.
I don't know if this drop is just a correction,or if we experience the same as in 2017/2018, but if we have entered a bear market, we can expect to see the same picture we experienced from 2018-2021. That was all. Short phases of "bitcoin mania", interrupted by drawn out phases of recovery.
Yes, you and many here are correct, btc is more a "generational thing" than a get rich quick scheme. For that, if you are lucky, you have the altcoin market.

AmoreJaz

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Quote from: Fundamentals Of on April 19, 2021, 06:50:54 AM

If you think this is the way that Bitcoin is going to take then sell your Bitcoins and have a life away from it. But if you don't care to die before Bitcoin will reach $100,000, then leave your Bitcoins to your family. In that way, you are saved from all kinds of worries and anxieties that are obviously troubling you now. You seem to be very emotional and without patience. Bitcoin is not for you if this is how you react every time Bitcoin goes through a correction.

what more can i say? i dont know why some people think that bitcoin seems to be at the dead end, just because it has this kind of drop? and the price is still more than 50k, which i think he has only seen this year. but people are complaining when this situation occurs and conclude something negative. definitely, it will happen as correction is necessary in the market. guess, some people just want btc to increase forever. if they feel this market is causing them anxiety or distress, yeah, better get out and encash your btc Roll Eyes

virtualdn

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Considering Mastercard will accept BTC later this year and the fact that many investors will join aboard, personally I believe it will reach $200K per coin before the end of the year. $100K will be reached before the end of July. These are my personal predictions and shouldn't be taken for granted

Topic: The problem is that it could take again many years to recover - page 6. (Read 1105 times)