The problem is that it could take again many years to recover - page 7.

tranthidung

legendary

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Farewell o_e_l_e_o

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.

The market has its ups and downs. Every market has its own cyclical periodicity. Bitcoin has a four-years periodicity and others have theirs that are different than 4 years.

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

It will but when? In this year or 4 or 5 years later?

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

Do you really think so? Never. In worst performance, bitcoin will reach $1 million after 3 or 4 more halving rounds. I believe it will happen sooner, in the next 1 or 2 halving rounds (in 2024 or 2028).

$100,000 for this year, $300,000 in 2024 or 2025, and $900,000 to $1 million in 2028 or 2029.

yazher

hero member

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You own the pen

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.

Don't worry whether they will gonna be alive when the price reaches that high. Just think of the possible earnings you can get when the price will fall back this coming days and you buy some BTC and wait for it to rise again. that will surely happen because of the strange phenomenon that happened in the BTC market where the price won't gonna fall to zero. there's always a way to rise back again especially right now when the big-time companies are linked to the bitcoin economy.

arabspaceship123

full member

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

As investors you've got to accept cryptocurrency markets are troublesome so you've got to think hard before investing. When prices crash it shouldn't be too long before they get to record highs because it's a repetitive cycle. To save from losses it's a matter of trying to sell before the crash.

One thing we've regularly seen with cryptocurrencies is prices will drop so Bitcoin, Ethereum and the rest of them will be affected. They've all been pumped and dumped but after Bitcoin had the record high of $64800 this month it's going to be difficult for many people to cope if the crash devalues Bitcoin too much.

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.

Fundamentals Of

sr. member

Activity: 2310

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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.

headingnorth

member

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NO SHITCOIN INSIDE

Bitcoin is already bouncing back from the latest flash crash and took less than a day to begin to recover not many years lol. Bitcoin does this kind of correction practically every month so if you don't have the stomach for it you should not be putting your money into crypto, or putting your money into anything else for that matter because everything goes up and down including the stock market. Even the strongest stocks like Amazon, Tesla, Apple etc, has a major correction every once in a while but they always bounce back.

bosede1

member

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As I was reading this post and ponder on it, I try to understand what you meant by it could take forever before it recovers from your point of view because really I am not getting the point you wanted to prove even during the dump from 2018 till late 2020 I don't think the topic really covers for it.

virtualdn

legendary

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Sell all your Bitcoins now and take this thought off your chest. All good things in life take patience, you can't get rich over night. I'm HODLing since 2013 and haven't cashed out a satoshi. Is it hard? Yes. Impossible? No.

DooMAD

legendary

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Leave no FUD unchallenged

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

it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

So? It's not a get-rich-quick scheme. Stop treating it like one. The function and purpose of Bitcoin is of greater importance than the fiat value ascribed to bitcoins. The network itself has no concept of your desires for arbitrary round numbers with lots of trailing zeroes. That's not a priority.

aoluain

legendary

Activity: 2226

Merit: 1249

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.

velosepur

full member

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Hi, I fully agree. Stable? Not yet, cos we need much more time to get that moment. Every of us need to be smart enough to expect anything. Market is workin on ups and downs. Economy rule. cheers, good luck.

Lucius

legendary

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Blackjack.fun-Free Raffle-Join&Win $50🎲

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?

Tekunda

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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.

Topic: The problem is that it could take again many years to recover - page 7. (Read 1050 times)