Topic: Throwback: Bitcoin was $64k today, a year ago. (Read 1538 times)

As I bumped the old thread I've made for encouraging people to continue holding. This thread was made on October 2022 and I posted about the throwback of $64k. In just 1 year and 5 months we're almost back to $64k and close to the ATH too. Just this day, Bitcoin hit $63k and on the past days I've read in some posts outside forum that Bitcoin was able to hit $64k, I haven't verified that but we're too close again. If people that are still bearish and doubtful about Bitcoin, you will never see an asset like this that have been very resilient. Take note that we're not yet on the halving and that's suppose to happen next month, the impact of it will be much greater and we might able not going to need a year until we see a new ATH. So, those that have been calm and holding until now, I'd like to congratulate each and everyone of us for being patient over all these years and not just that, more years to come to all of us.

It's going to be a long wait, especially when everything is going downhill in an instant. We should just focus on filling our bags with crypto before the market turns bullish again. If things work out the way we hope for, Bitcoin could easily reach $100k per coin.

I'm in no hurry to see BTC reach a new ATH, as long as it works as intended. Crypto is all about utility instead of the price. With some countries gradually adopting Bitcoin as legal tender, it should only be a matter of time before the cryptocurrency rivals the existence of Fiat. Who knows how far will it go? Just my thoughts

The lofty heights of $64,000 & how we miss them hey. At the time I predicted we’d go much higher, I couldn’t have been more wrong though. I definitely think COVID & what happened with the world due to lockdowns stunted the price run up. I think without all that we would have gone much higher. China banning bitcoin at the same time wrecked us too.

We will get back to those prices though & go higher. It’s just going to take a few years though. We must have lots of patience but it’ll be rewarded.

Bitcoin is more than just the price, it's money that is directly held by you, without any 3rd party, and that you can send to anyone in the world.

It's really the best money ever invented, and the price is just going to increase over the long term.

For example, in 2025 central banks will be allowed to have up to 2% of their reserves in Bitcoin.

Many people are duscouraged about the height at which bitcoin has dropped in price. Honestly I would feel the same if not for the fact that I know bitcoin price acts in cycles. Then again knowledge could only get you so far, you must really know the timing at which things go especially in this venture. Otherwise you'd find yourselves waiting for the next high until you hit another bear market. Which happened to a lot of us because we were so sure back then that 2021 would be the year bitcoin would reach 100k, considering how booming the crypto space is back then.

Indeed. A lot of negative events have impacted crypto market prices. 2022 has been a very bad year for both crypto and stocks (especially for crypto). It's going to take quite some time before we see any signs of recovery. First, confidence into crypto assets needs to be restored for demand to soar like crazy. And second, the global economy needs to recover back to the way it was. Unless these two issues are sorted out, don't expect to see a new ATH in price anytime soon.

At least, we know Bitcoin won't be going anywhere. That's thanks to the way it was designed. Satoshi never intended Bitcoin to be used as an investment tool anyways. It was always meant to be used as a currency. Maybe some day we'll forget about the price, and use Bitcoin for its intended purpose? Just my thoughts

The market is impossible to be bullish forever and that's why whenever we enter to a bull run, it's anticipated that you should start to take your profits and then stack it up first. So, you'll have the cash or stable coin prepared whenever the end of it has come. And when you've seen the price drops, that's when you should start buying then and wait until it goes on high again.

Yes, many are believing that bitcoin will certainly pass $100k mark soon. It may not be as immediate as we have thought last year but it will definitely going to hit it soon once the bull is back. Whoever is saying that next year is still a bear market, respect to them, any opinion that thinks it's going to be high or low. One thing we're sure about, this bear isn't going to last forever and as we're in cycle, this is about to end maybe or maybe not by next year but sure, it will come to an end.

Yeah, it didn't hurt that much because things likely happened so fast. And the low from this bear market was the highest on 2017 before the more bloody bear of 2018. All those folks that have been through those bears and bulls understand that this isn't really a lot for a bear market.
But with comparison to the percentage and lost since the last bull market, we can have those numbers to be that much.

Those that can't take away and still can't move on, they have to move themselves away from the market. Aside from not looking to the charts, they should make themselves busy with other things so they can forget what's up with the market and how low it has been since then.

Good old days will come again. By the time we need to be good with the holdings that can give good return. Making use of the bear market is the best one can do to experience good profit out of the investment. As said whenever the market turns bearish you should focus on accumulating more or you should not watch the market. For now it takes time to reach $70k again. Based on different predictions it is 2024 to experience new ath.

The good old days of BTC, but unfortunately we can't live in the past as bitcoin over the months has taken several steps back to where it all began. Coming to think of it, we all know this isn't unusual for bitcoin to pull such  moves...it's all cyclical and part of the big move yet to happen, let's hold on a little longer.. maybe stay away from the charts for the time being while Operation $70K is in process.

Hard to believe we're 14 months from the high already.  I must admit that this drop didn't hurt as bad as prior ones in previous cycles.  Hopefully things repeat and we start moving up from here to the good times once again.  With a recession closing in, rates increasing, and overall chaos in the government, it seems like maybe it will be different this time?  I'm not betting on it, but I sure hope we don't see a massive recession that brings an end to crypto.  I have a feeling if we do see a bad recession, it will be the biggest test yet that Bitcoin has faced.

There are many predictions that never came through, hopefully, BTC going as low as 10k will be one of such prediction. Although It is not an impossible thing to happen after seeing what happened these last few weeks,  This bear period can certainly be seen as one of the bloodiest but that should give investors the desire to buy at a cheap price when they look back at 2018 and how btc was able to recover and hit another ath.

FTX bankruptcy may not have nothing to do with Bitcoin, but it's how the people thinks. Since FTX is one of the biggest exchange in the crypto industry. Sooner or later, another exchange may fall again and a lot of people will lose their hard earned assets again. So, there will be a temporary fear for what happened with FTX, that's like a natural human reaction when something bad happened to a neighboring exchange.

In 2022 we have experienced many difficulties like war and economic crisis but the thing that made the market worst was the crash of FTX, I agree with @Abiky's thinking. The crash of FTX has scared more investors than ever, even though the death of FTX has nothing to do with bitcoin but outsiders can't tell the difference, and they think the two are the same. This has caused a general bad reputation for the entire crypto industry. But this is also not the first time a centralized exchange has crashed, after all, I believe bitcoin will recover and will reach new ATH is quite sure.

Bitcoin stood above 50000 exactly a year ago but this year Bitcoin has lost 62% of minus and currently stands at $16700. In fact, such a bloody year for Bitcoin happened once before in 2018. Bitcoin crashed 62% in 2022, marking the second biggest bloody year of all time. However, many expert investors and experts have expressed different views on the future of Bitcoin. They believe the Bitcoin market will exceed $100k in the middle of February and March 2024, centered around the Bitcoin Halving. However, there is no clear consensus on how the Bitcoin market will fare next year, i.e. 2023. However, Mark Mobius has sent a bearish comment saying that the Bitcoin market will fall below $10,000 in 2023. This is undoubtedly a scary theory for Bitcoin.

it seems that when the price increases, many are interested and want to try to get more detailed information, but sometimes what we will explain will not be easy and acceptable to people who are new to bitcoin, there will always be misunderstandings in the explanation, what are you saying is reality.
when the price increases, everyone is interested, but when the price drops, many don't understand about bitcoin, the voice is clearly heard with disappointment, this continues to happen, but they don't want to continue learning about bitcoin, which will continue to experience things like that.

I do not think that it set it back for "few years", maybe few months at best. If we set back a few years anytime something went low, we wouldn't be here today and we would be doing much worse. The reality is that crypto was in a bear market to begin with and the world economy hasn't recovered neither and bitcoin doesn't have a reason to recover at the current moment.

Look at stocks and how they are doing and you will see that it's not doing that great and it should probably stay that way for a while longer. I know it's not going to be as simple as "stocks go up, crypto goes up" type of deal but there is a correlation for sure and when they are both down, no logic for it to be separating now.

Why the FTX collapse only? Don't forget before it, we already have wars, other economic crises and then the main thing would be the bear market. The price fell down and it made it look like we are back at the early years of BTC but it didn't take away our progress. The people's awareness about BTC is still twice bigger than what we have on the past. Most of them will re-enter BTC again once some things have sorted out.

This is why I do not think it will take time before we recover to our last ATH and after it, we will slowly create a brand new ATH. We will soon get to that $100k most of us are assuming of but for now, all must prepare a fund for stacking more coins.

The FTX collapse set the crypto industry back a few years, so it's going to take quite a long time before BTC goes all the way to $100k per coin. Many are panicking thinking it's the end of crypto. But let me tell you there's more to Bitcoin than meets the eye. This is a once-in-a-lifetime opportunity to grab as much coins as you can for a steep discount. Once the tide is over, Bitcoin may never go below $20k again.

Remember, wealth is built during bear markets (not the other way around). I'm pretty sure Bitcoin will make a comeback sooner than later. Who knows if BTC goes even higher than just $100k sometime in the future? Just my thoughts

Many people want to have quick returns. One year seems like a lifetime for some, but for Bitcoin that's still short term.

We live in a society now that has very short attention span, but if you learn to be consistent over long periods of time, then you will probably benefit from Bitcoin.

If you can delay gratification for, say, a decade, then you will most definitely will be able to grow a reasonable amount of money in Bitcoin.

The issue for some is that they want to trade in and out of Bitcoin with fiat in a matter of weeks and expect to keep getting more and more money from it somehow. The reality is that exchanges make their fortunes from those people.

These incidents paved path for more common people to get into the market. Same didn't last for longer time period and we can't be sure of the Market to be bullish forever. The real growth is happening, and we're experiencing the bear market for now. The transition from the bear market will happen at the earliest.