Topic: This price (~$575) is normal and good, and here's why... (Read 2802 times)
I still hold bitcoin that when it is my plan for halving. but the price does not match expectations. although I still profitable if sell at this time. I still believe the price every end of year always increase. so I still would hold until the end of the year and see at least the price could touch $750
the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
Actually when price pumped to $780 before the halving people started to expect that now $1k will be easily achieved and hoping that they started to buy coins, but unfortunately price started to drop after that.
I was even seeing people thinking the price to reach $2000 and up. That's how a hype works. It makes people buy into the momentum, even though the price was nearly at it peak as soon as it went over $700-$750 back in June. I am glad nearly all people have calmed down and lowered their predictions. And yes, there are still some people here thinking the price will reach $1000 this year.
Agreed. Unless you're a good day trader it's foolish to buy when the price is shooting up. Now is the time to buy, or when the price is dropping, or flash crashing. I do think we will see a slow steady upward trend/pressure on the price over the next several months though just because we have half the number of new coins being mined per day now.
I doubt we will see a slow and steady increase.Bitcoin always tends to react very emotional.So with the next bullrun we will again move up quickly with people trying to push it even more and others trying to take their profits out the market.
Movement in the market is what traders love.And they again will get it.It's just a question of time.Maybe now we are seeing again the calm before the storm.
I like the price that it is at currently.
It seems very stable and it is showing where it should be at this time with this stability.
It seems very stable and it is showing where it should be at this time with this stability.
the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
Actually when price pumped to $780 before the halving people started to expect that now $1k will be easily achieved and hoping that they started to buy coins, but unfortunately price started to drop after that.
I was even seeing people thinking the price to reach $2000 and up. That's how a hype works. It makes people buy into the momentum, even though the price was nearly at it peak as soon as it went over $700-$750 back in June. I am glad nearly all people have calmed down and lowered their predictions. And yes, there are still some people here thinking the price will reach $1000 this year.
Agreed. Unless you're a good day trader it's foolish to buy when the price is shooting up. Now is the time to buy, or when the price is dropping, or flash crashing. I do think we will see a slow steady upward trend/pressure on the price over the next several months though just because we have half the number of new coins being mined per day now.
the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
Actually when price pumped to $780 before the halving people started to expect that now $1k will be easily achieved and hoping that they started to buy coins, but unfortunately price started to drop after that.
I was even seeing people thinking the price to reach $2000 and up. That's how a hype works. It makes people buy into the momentum, even though the price was nearly at it peak as soon as it went over $700-$750 back in June. I am glad nearly all people have calmed down and lowered their predictions. And yes, there are still some people here thinking the price will reach $1000 this year.
People were expecting too much, especially those who got in at around $700. I have not been around bitcoin long enough and was only able to start buying at around $420. At current prices, I am still doing ok and a few more years down the line, I would be a happier man, I think. If the price starts to move above $600 again, it is all good. If it stays at this level for the rest of the year, that is also fine by me.
So why is everyone freaking out about a "low price"?
Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, I was all like "Okay, the pump is just starting." Until it went lower and lower and now we're stuck in this price which is much better anyway compared to the price before the pump.
I also think that this price is good, and holding this price over 550 $ is actually good thing. Bitcoin has proven that is strong enough. After summer price can go up, bitcoin have potential for that and I believe that before new year we can go over 700$. I'm not a trader, and price is higher then in beginning of the year when I joined, for me that is good enough for now.
the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
Actually when price pumped to $780 before the halving people started to expect that now $1k will be easily achieved and hoping that they started to buy coins, but unfortunately price started to drop after that.
the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
People who expected to get rich over night are idiots. I'm sorry, but that's true. Nothing is guaranteed. Sure, it could happen, but you can't count on it.
Bitcoin will chew you up and spit you out if you don't know what you're doing. That's why I always buy to hold long term (spend money you won't need for years) or be a damn good day trader.
Bitcoin will chew you up and spit you out if you don't know what you're doing. That's why I always buy to hold long term (spend money you won't need for years) or be a damn good day trader.
People thinking getting rich overnight is possible are those who also think gambling can make them rich using strategies. That's totally false, and it's a lie being told by some casinos or people who got rich from them.
Now bitcoin is $576, i also think it is good price for all bitcoins users, you know in the start of 2016 bitcoin was $300 and something, but now bitcoin is in good position, so how we can say it is low price of bitcoin?
Okay, yes, but with the block reward reduction is a low price expected, certainly the price should be above to be considered really in good position. Of the same way if the price on 2020 achieves $800 this in no way could say that would be in good position except of course for the initial holders.
People who expected to get rich over night are idiots. I'm sorry, but that's true. Nothing is guaranteed. Sure, it could happen, but you can't count on it.
Bitcoin will chew you up and spit you out if you don't know what you're doing. That's why I always buy to hold long term (spend money you won't need for years) or be a damn good day trader.
Bitcoin will chew you up and spit you out if you don't know what you're doing. That's why I always buy to hold long term (spend money you won't need for years) or be a damn good day trader.
G-unit, that's a pretty good summary of what happened, and it's true and concise. So I think if we stay at this level for a while--or a long while, maybe--it's not a bad thing. People were hoping for ridiculous fantasy prices of $1000-10,000, and that ain't gonna happen. There's still strong demand for bitcoin, but you would have to have absolutely massive demand to drive the price up that high.
Thanks Pharmacist! True, but I do believe 10K plus will happen, just not nearly as soon as people would like. It bitcoin ever becomes mainstream one day, it could easily be worth 6 digits a coin.
So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
Today price is not bad as it is increased to $580 and the line on the graph is going up.
The halving was interesting when the price before it was really high comparing with few months before halving.
I think that for this month the maximum price can be up to $600 as many people are in vacations.
The thing is, people are greedy... They have had a taste of $1000+ per bitcoin and they thought it would go that way again.. but it did not happen. Most of them were not around when it happened, and
their expectations were built on false and hyped predictions and speculations. A year from now, we will have loads of people complaining about a stable $800+ price. It's just how people think, and when
it pans out differently... they tend to blame the technology, and not their own greed.
their expectations were built on false and hyped predictions and speculations. A year from now, we will have loads of people complaining about a stable $800+ price. It's just how people think, and when
it pans out differently... they tend to blame the technology, and not their own greed.
Now bitcoin is $576, i also think it is good price for all bitcoins users, you know in the start of 2016 bitcoin was $300 and something, but now bitcoin is in good position, so how we can say it is low price of bitcoin?
these are critical days and will determine the future price of bitcoin. if the resistance is good enough and price can't go lower than this i am sure we see a rise before the month ends but it there isn't enough support we will stay below $600 for longer time enough for everybody to accumulate.
for me this is normal. bitcoin prices are currently very stable and not much changed. the current price included below for the last couple of weeks the price touched at USD700 figures.
yes that is a fact, actually some people wants bitcoin to bell down under 400$ so that they can get chance of buying bitcoin at a low price, therefore they are trying to spread such false news in the market, otherwise there is nothing wrong in market nor bad news related to bitcoin, the price of bitcoin is expected to raise again to its previous price after a long correction,
these are the kind of people that always miss great buying opportunities. people have had enough chances to buy at very low prices levels such as sub $300, and they still complain....
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