Topic: This price (~$575) is normal and good, and here's why... (Read 2798 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 $300, and they still complain....
yes that is a fact, actually some people wants bitcoin to bell down under 400$ 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,
After Halving, we all know about it that Bitcoin would be go down, and i also read mostly threads about bitcoin's price downing so it is downing time of bitcoin, But we all know that next month bitcoin price would be started to grow up, Actually we should accept it that bitcoin always remain up and down, because in this way we make profit.
this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
True, but we would still be below 650, 700 for sure, without the bitfinex hack. Okcoin situation is old news. Anyways, we would still be in a post-halving correction regardless.
well as far as i know the Okcoin situation that i am refering to happened a couple of days ago after the bitfinex hack.
i am talking about the authorities saying okcoin is laundering money,... and created some panic shortly.
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
you know nothing
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.
Well, yes, if you open the all time charts, and ignore peaks and massive dumps, then you can clearly see the price has been going up in a nice manner. People keep complaining about the price to be boring and stuff, but this shows that Bitcoin is in fact growing year after year.
that is the problem with most of the novice investors in bitcoin, they start buying when it is already too late. for example they bought at $700+ and now that price is down from that peek they are cursing everything and everyone.
but those who buy at the bottom and hold longe term are always happy.
we still hope that the price of bitcoin getting up. the current bitcoin prices stabilized at $ 570 price range.
since halving in the month of July has not happened a significant increase. bitcoin prices actually declined, although only slightly.
since halving in the month of July has not happened a significant increase. bitcoin prices actually declined, although only slightly.
People are upset because they thought they were going to get rich overnight.
They invested a couple thousand and were hoping to be a millionaire.
Now that reality set in, there are people that probably can't pay their bills.
They invested a couple thousand and were hoping to be a millionaire.
Now that reality set in, there are people that probably can't pay their bills.
So why is everyone freaking out about a "low price"?
I was promised the moon, new ATH, if I hodlded to the halvening. The halvening has come and gone OP, and this is not the moon. This is what the opposite of the moon would be, if there was such a thing. This sux0rz. And now you tell me that it's OK? I'm feeling a little used
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 $1000-10,000, and that ain't gonna happen. There's still strong demand for bitcoin, but you would have to have absolutely massive demand to drive the price up that high.
I agree with you, if we compare the actual Bitcoin's price with the price of the last summer we can easily notice it's increasing already.
There is increase, but sadly it is just a fraction of what it would have been if there was no panic around bitfinex hack. I can't say that i'm not disappointed by
current price, but i'm betting that it will pass and we will continue going strong. If you look coindesk news daily, there's a lot of positive news lately too, so maybe this is just temp dump.
The actual price is really not bad. It's true that the price decreased the few last weeks but it's still higher than the price of the same period of the previous year
There are a few bagholders, who purchased close to the ATH.
Other than that, long term holders should be happy with this price.
Other than that, long term holders should be happy with this price.
I agree with you, if we compare the actual Bitcoin's price with the price of the last summer we can easily notice it's increasing already.
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
you know nothing
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.
Well, yes, if you open the all time charts, and ignore peaks and massive dumps, then you can clearly see the price has been going up in a nice manner. People keep complaining about the price to be boring and stuff, but this shows that Bitcoin is in fact growing year after year.
I as trader am most definitely happy with the price increase that we have seen. There is absolutely no reason to complain. Especially when the market allows you to buy at lower levels, sell at peak, and buy back at lower levels once again. And all that in a matter of less than 2 months.
I do agree fully with opening post that this is fair price range between 550-600 $ for per Bitcoin. People was expecting enormous increase which was not going to happen as already price are almost doubled. It is good because correction will bring new investors which will cause periodic pumps but this can not simply go up without falling. Price will always work in circle.
This time last year it was $200-$300 per Bitcoin. A year later ~$575 is between double and triple last year's price, and that's after the correction from $800 and the Bitfinex hack. The end of the bear market was last summer, and this summer marks the start of the bull market.
I was one of the ones that believed that the bitcoin halving meant nothing with the price. Price of bitcoin is not exactly connected with bitcoin miners, there are other people who own bitcoin by other means of mining, yes miners wants the price to be a lot higher because it is now harder to mine bitcoins, 100% harder to be precise.
That doesn’t mean that getting bitcoins is harder for other people tough. We still either earn it or buy it. Only miners are having trouble. So people who wanted higher price were two fold , miners and speculators , when speculators left , miners couldn’t hold the price. Simple as that.
That doesn’t mean that getting bitcoins is harder for other people tough. We still either earn it or buy it. Only miners are having trouble. So people who wanted higher price were two fold , miners and speculators , when speculators left , miners couldn’t hold the price. Simple as that.
I do agree fully with opening post that this is fair price range between 550-600 $ for per Bitcoin. People was expecting enormous increase which was not going to happen as already price are almost doubled. It is good because correction will bring new investors which will cause periodic pumps but this can not simply go up without falling. Price will always work in circle.
"miners will always have profit" - not true. There are costs like buying new gear, paying workers, paying electricity.. if BTC price drops too low, they are mining with loss.
Though at those times I think it's safe for them to just mine BTC and hold them.
Though at those times I think it's safe for them to just mine BTC and hold them.
I think it is indeed profitable for those who buy while prices are only $ bitcoin 350. But this (decline in the price of the bitcoin present) different to those who buy the $ 500 price while bitcoin-785, so it depends on the person who bought the bitcoin is not the fault of the price drop
many other bought at the peak so they are screwed now, thye need to wait until the next pump like the other that bought at 1200 and still are waiting, the story is dfferent for miners, they have always profit
I think it is indeed profitable for those who buy while prices are only $ bitcoin 350. But this (decline in the price of the bitcoin present) different to those who buy the $ 500 price while bitcoin-785, so it depends on the person who bought the bitcoin is not the fault of the price drop
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.
Yeah sure a drop was expected to happen after crazy run up to $785.
And the actual range of 570-580 looks really healthy for a bottom after the correction.
Possible we might move some while sideways before seeing again any significant movements.This will make people even more bored.
However the closer we come to the end of this year I expect to see some funny upwards movements again.
So why is everyone freaking out about a "low price"?
Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, 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.At least you are honest and not sour. I guarantee if you hold for 2 years you will see a nice return. I'm living proof of it. I would take advantage of the depressed price at the moment to be honest.
Very precise, it also I have ever see and do on the previous year. I did almost exactly what you said and it made me very excited over the treatment. because I benefit folding 3 x the price of the bitcoin when I bought it. This is something that has indeed proven to be
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.At least you are honest and not sour. I guarantee if you hold for 2 years you will see a nice return. I'm living proof of it. I would take advantage of the depressed price at the moment to be honest.
OP, that is a good assesment. It is also a reason to think that BTC will stay below $600 until the end of the year or more. The problem now is when will BTC rise again? According to your assesment it was because of the anticipation of the halving that BTC rose to $700+. So maybe the next rise will be after 4 years in anticipation of the next halving?
It will be sooner...either by late 2016 or early 2017 I'm guessing. People are still waiting to see where the price lands. Every smart buyer wants to buy bitcoin at the best price possible. Eventually people get tired of waiting for a lower price and buy. Price rises a little. Others say "ok, this is the time now". Price goes up more. We get a chain reaction and a price spike.
Also, before long the decrease in the supply being produced will start to put upward pressure on the price.
this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
True, but we would still be below 650, 700 for sure, without the bitfinex hack. Okcoin situation is old news. Anyways, we would still be in a post-halving correction regardless.
OP, that is a good assesment. It is also a reason to think that BTC will stay below $600 until the end of the year or more. The problem now is when will BTC rise again? According to your assesment it was because of the anticipation of the halving that BTC rose to $700+. So maybe the next rise will be after 4 years in anticipation of the next halving?
So why is everyone freaking out about a "low price"?
Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, 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. 
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
you know nothing
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.
Well, yes, if you open the all time charts, and ignore peaks and massive dumps, then you can clearly see the price has been going up in a nice manner. People keep complaining about the price to be boring and stuff, but this shows that Bitcoin is in fact growing year after year.
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
you know nothing
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.
Well, yes, if you open the all time charts, and ignore peaks and massive dumps, then you can clearly see the price has been going up in a nice manner. People keep complaining about the price to be boring and stuff, but this shows that Bitcoin is in fact growing year after year.
this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
Maybe. But I was also expecting this consolidation to take effect after the halving hype. The hack of bitfinex just hasten the process. After a few months, this consolidation will be over and a new push for a price hike will happen, if this is a normal trading. But it is bitcoin so anything goes.
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
you know nothing
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.
Yes, I also think it is a good price because three months ago bitcoin was struggling to break the $400 level and these days its price has increased around 50% from May to August. It is a clear sign of stability which is always positive.
this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
certainly the number of transactions is something that impacts in the price. if not achieved improvement. the bitcoin dies. as g-unit says this is an experiment. apparently many forget this little detail.
Sure, but only if price stays in-between 550 and 600.
Because it's surely going to drop further down, your theory will drop like stone.
Folks, don't listen to these bulltards who keep telling you this is the good times and better times are ahead, they're telling you to be their bag-holders. The truth is bitcoin is turning into a failed experiment, it's had 7 years to develop and mature into a stable technology but it failed. Just look at the transactional limits that cap bitcoin at 2-3 transaction a second; compare to 2 million transaction a second capability of Visa and MasterCard. The core bitcoin developers have known about this critical limitations and yet they have failed to lift it, not because they can't but because they won't. There's an inside conflict among the developers and leaders, these internal squabbles have paralyzed the bitcoin development. There's no end in sight regardless of what these bulltards try to mislead you into believing. It's a tragic flaw in the whole scheme. Bitcoin is poised to collapse soon.
Because it's surely going to drop further down, your theory will drop like stone.
Folks, don't listen to these bulltards who keep telling you this is the good times and better times are ahead, they're telling you to be their bag-holders. The truth is bitcoin is turning into a failed experiment, it's had 7 years to develop and mature into a stable technology but it failed. Just look at the transactional limits that cap bitcoin at 2-3 transaction a second; compare to 2 million transaction a second capability of Visa and MasterCard. The core bitcoin developers have known about this critical limitations and yet they have failed to lift it, not because they can't but because they won't. There's an inside conflict among the developers and leaders, these internal squabbles have paralyzed the bitcoin development. There's no end in sight regardless of what these bulltards try to mislead you into believing. It's a tragic flaw in the whole scheme. Bitcoin is poised to collapse soon.
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.
You are absolutely right that the price has gone up a lot already. However, only smart people have been able to benefit from the jump to where we are now. People panic/are freaking out because they bought at +$600 prices. That's why they don't care about the fact that the price has gone up like $300 already. It has zero value for them. All they care about is that the price must go far above the $600 level again.
It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600)
consolidation yes but the price will not stay a long time there with the known volatility of bitcoin, the bitfinex drama have a negative impact but it start to be solved a little bit
I'm not worried at all about the price. The fact that it immediately shot back up after nose-diving below $500 is a good sign for bitcoin. It shows that the minimum value most people give bitcoin is roughly between 500-600 dollars, and once it fell below that threshold, bitcoin began rallying immediate support. I think something drastic would have to happen for the price to plummet again and remain at that much lower price.
Only those are freaking who are newbie to the field of bitcoin and who were in the expectation that the price of bitcoin at the time of halving will reach to thousands of dollars, and those people are freaking who saw the price of bitcoin at $700 and increasing above that and they started to buy at $700,
Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.
May be this price suggesting accumulation phase going on before big usual november pump this year also lol.
However the large dump on early of august is due to bitfinex hack rather than natural price correction.
However the large dump on early of august is due to bitfinex hack rather than natural price correction.
A lot happened back then because of that some folks are not interested in BTC because of hacking.
Even though BTC is nice to be your investment.
This price for me is much higher I remember when I discovered BTC is only a 230$ something back in 2012 or 2013 can't remember it well however I can't buy a whole BTC if the price is this.
May be this price suggesting accumulation phase going on before big usual november pump this year also lol.
However the large dump on early of august is due to bitfinex hack rather than natural price correction.
However the large dump on early of august is due to bitfinex hack rather than natural price correction.
I believe last summer the price was even less than $350 as you said. the price was very low before the big pump that happen at the beginning of October and November
I meant the price was approximately $350 lower at this time last year, as in, actually price was in the low 200's
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I believe last summer the price was even less than $350 as you said. the price was very low before the big pump that happen at the beginning of October and November
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.
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