Topic: Treating bitcoin as a teenager. - page 3. (Read 882 times)

Teenage Bitcoin? Sure, lifespan-wise. However, let's not become emotional. This is hard economics and revolutionary technology, not a coming-of-age story. Outperforming expectations? It happens when you introduce a radical new idea into a stale, controlled system. Regarding worth. Bitcoin dominating altcoins? Just scratching the surface. Bitcoin symbolizes decentralization and is more than a currency. Volatility isn't a trivial issue. The big, prominent asterisk can make your investment a rollercoaster. Let's not talk predictions.  Bitcoin's volatility is what makes it so appealing. A bet, not just an investment. Yes, it could make you rich. Thats the future. Everyone wants a shortcut to money, but there are no guarantees, only high stakes and rewards. So focus on bitcoin

Everyone with their own understanding about bitcoin, OP, prediction of price is normal with bitcoin wether right or wrong, people has to expect high because the have their major investment in it, but the truth is Bitcoin is doing great, the price of Bitcoin is rising and it is normal, this happens gradually, the $100k anticipation is not an easy one, let's just keep accumulating, the over-speculation in this industry is not needed, what we need at this moment is more adoption, support from different places to make it a legal tender, as for the price, bitcoin appreciation is going in the right direction, slow and steady, I think this is in the right track. We should not place all our hope here, diversification will also help in term of holdling and forgetting.

Still lucky you can buy Bitcoin at a cheap price and of course those who buy at $68k which is the previous ATH price will put enough pressure when the price is bearish and now still reaches half of it.
Imagine how long they have to hold on to keep making profits when the price has risen or reached the new ATH.

There are many targets to be taken and adjusted to the initial purchase price.
Even if it doesn't reach $100k++ we can still profit at the current price when we buy Bitcoin below $20k.
But for me for the long term, the main target I have to achieve is $100k, that's an optimistic target for me personally.

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Those who are too quick to set the price to $1 million are just too hasty, even though the increase to ATH is a gradual increase.
We are still at the $30k level and Bitcoin is still trying to continue to rise and reach the nearest ATH.
Their minds are too FOMO with crazy price speculators.

To be honest, I also expect and hope bitcoin will reach 1 million USD because it will bring huge profits to me and I will even become rich. But we need to be realistic and need to set goals in stages, we need to reach the $100k target before we can think about a higher ATH. We cannot set too high expectations thinking that bitcoin will increase from 30k$ to 1 million USD, that is an unacceptable illusion. It took Bitcoin 14 years to reach $69k, so we need to give bitcoin more time if we want bitcoin to reach $1 million. But many people are too stubborn and too greedy to set that goal in a short time.

Bitcoin is young and that's a solid point, many people choose to stay away from Bitcoin not because they can't afford the money but because they don't want to get involved with anything that their government is not backing, and now that ETF is here I believe that loads of people will have no choice but to join the race and this time it's going to be big.

Right now the population of people in Bitcoin is still very low and after ETF approval it's going to get bigger, but there is a catch, with Black Rock involvement I believe that the opportunity in crypto space will be lower in the future, the way people make money from this crypto thing right now will be crippled by these powerful organizations.

This next bull market could be the last best because the opportunity gets lower, but one thing is certain, Bitcoin value will always grow bigger as the years goes by, so you are correct for saying that right now Bitcoin is still a teenager.

 Bitcoin is young and still a teenager but you'd have to agree with me that it has surpassed expectations of any currency that was formed 13years ago. Bitcoin was created to change the status quo of how we view money, taking control from the government and giving it to the users. Despite it's volatility rate, it has more value than altcoins combined and I stand to be corrected on this claim, so I feel you'd cut some of us some slack if we put too much expectations on the kid(Bitcoin) ..
 Predictions are often not reliable as they seldom have much accuracy as it is made out of guesses on what an outcome will look like. Some, out of greed, will want to invest simply because a popular figure predicted Bitcoin to rise to so and so amount, which is not supposed to be
 Another reason people tend to forget that Bitcoin is still a teenager and place so much expectations is because it is believed to have the potential to make one very rich.

One is that we should not expect a number that is too high compared to what is happening and should be satisfied with what we get. Second: we should set a specific goal and only sell bitcoin when we reach the goal, and of course, we should not set a specific time for our goal. Because we all know that no one can predict the future and we are no exception. My goal and plan is that I will only sell when bitcoin reaches my goal and I am willing to wait until the 2030 bull season if this bull season fails to reach my goal.

Prediction mostly exaggerating and that we can figure over the years , only few that tries to predict a normal price maybe what they wanted to tell us is that since it is only prediction there is no Hurt to bring highest that people may believe it is added to their boost in their belief.

This is the right place for this as this tackles not about literal prediction but the behavior of many for bitcoin and the other concerns .

I  agree with your point Bitcoin is still relatively young and expecting it to reach moon prices within a short period of time.
I believe that we should appreciate the significant growth that bitcoin has achieved so far considering its age. It has made remarkable strides.
We should treat bitcoin as a teenager that is still developing and has a promising future ahead. In the next Bull run it has much ability to grow significantly and if it will touch its ATH so it can go above 100K easily.

Do not expect a specific figure, but it is true that we are going to see higher, and most probably higher than ATH as well. Which means that, if you wait for a while, in the next 2 years, we are going to see above 70k. That is what I can say about bitcoin, that is a good thing, expecting it to grow to more than double in the next 2 years is as good as it gets and should be fine, I get that it is not going to be all that shocking, because people are already expecting that.

The fact that we all know that we are going to make more than double of our money, maybe quadruple of our money, in the next two years, is a big deal and should be important in the end. I personally do believe that it is going to be fine, and should be noted down eventually.

You are comparing Bitcoin's age to human years, while instead you should be comparing it with recent emerging technologies. And those technologies go from infancy to mainstream in 10 years or so. Bitcoin is already mainstream in terms of awareness - most potential users have already heard about it, but chose not to adopt it. I seriously doubt they will suddenly change their mind about Bitcoin without any sort of event that could force them to do so, like a global hyperinflation which is quite unlikely. I personally believe Bitcoin has entered its adoption plateau and not a lot of new people will be buying their first Bitcoin each year.

If you had paid attention seriously to what people were expecting from the price of bitcoin, you would have come to the conclusion that Bitcoin is no longer a teenager but rather an adult that is ready to make people wealthy overnight. Even still, I laugh at individuals who are already assigning a random amount to bitcoin, not because I find it amusing, but rather because I know it will eventually reach that level.

Everything happens one step at a time; people shouldn't act in a rush or assume that they will always receive the high price they seek in Bitcoin without adhering to the economic principle that says that prices of things rise in response to demand.

Global demand for bitcoin is growing, and institutional investors are moving into it as well. The cost and demand for it are gradually rising. By the next two years, the price should be between $100k and $150k.

I had the same thoughts going through my mind sometimes back, as people place too much emphasis on the expectations on Bitcoin and they've already gotten a certain price tag that they're expecting in the next bull run to which I've asked, what if it doesn't go as you've predicted, hope you will not be disappointed, hope you will not find it to say your investment did not go as planned because, the price didn't exactly go the way you want it. bitcoin is still expanding considering how long it has been on the market. So I agree that People should take a chill pill on their expectations.

You’re right op and I’ve also been on the opinion over time that over pressure on bitcoin isn’t the right thing to do and just as the saying that over expectations leads to disappointment which is strongly visible in bitcoin and crypto market of today and I think most of the people with very high expectations from bitcoin aren’t actually or maybe really bitcoin enthusiasts but rather ill talkers who are always looking out for negative comments to drop about bitcoin and I think bitcoiner are paying more attentions to the flaws and not seeing the growth and height bitcoin has achieved in just a very short time.

You know, the OP actually had a great point, because I don't personally tire of all my hopes or goals to my investment in Bitcoin. I know that too much expectation can bring disappointment, and the fact that Bitcoin has actually dominated the space as if it's a technology that has already been around for about 50 years, like OP said, but we should not take that because of that and see Bitcoin as what can bring the price we want it to. It could be that we are not even going to get to $150k this bull run, but let investors just take the best decision before investing so that they don't get disappointed at the end, like those that bought at $68k with a very high hope that it will get to $100k. I know that I did not buy my Bitcoin at a very high price like $60k, so even if I see $80k, I can sell some fractions and hold on to see if the surge will continue, and if it does, I will sell too at $100k and so on.

So what to expect when bitcoin reaches maturity, more stable prices, wider adoption? If so, treating bitcoin according to age is appropriate for those speculators, regardless of whether they overestimate the price. In fact, the price of bitcoin is very volatile because adoption is still relatively narrow, this is like a teenager with an unstable way of thinking.

I don't blame people that are expecting much from bitcoin, I think it is because they got spoilt y the return of bitcoin and they are already use to such kind of lifestyle. Look outside crypto, there is no any other investment that has given a return like crypto and still remain functional, most of the ones that did were Ponzi schemes and they are long collapse and gone but after 13 years of servicing humans worldwide, it is as if its still starting like it has not done anything for the people.

Another problem is that over the years, some institutional investors were jealous of how bitcoin has produce young millionaires and they don't like it, they have called bitcoin to be dead many times but it still standing to day, they have decide to join the movement, that is why we see representatives from BlackRock and the rest fighting for ETF, these people are the new investors in town and they are on the verge for the same profits it has given people in the past but festival is a thing of the past, bitcoin will grow but the days of making 400% in two weeks is gone except for shitcoins.

Hold, if you must and trade if you must trade but nothing is going to stand in the way of bitcoin, it might not be soon but I know that it is when you don't expect the growth it does appreciate in value. For example, look at people that bought the botton by now shold have 2X there investments by now, this is how sweet been patient is with bitcoin.

Of course, but it requires good planning and making decisions as wisely as possible regarding this investment. You should not ignore any risks involved, in fact you should not ignore regulations and rules that may prevent you from utilizing Bitcoin to make a profit.

So far bitcoin is starting to gain the attention of many people and it will continue to increase over time. Governments are starting to benefit by creating rules and approaches that benefit the state by taxing the returns of traders and investors, but they can change legal regulations to illegal ones whenever they want so that risk should not be ignored.

You are right, we should not expect more from BTC because expectations of it to gain $1 million is insane but we all know this is just a trick of the big analyst to trick newbies into thinking that BTC is in hype and might reach at least near to $500,000 or near it. Because they are the ones who made such predictions that BTC could reach $1 million dollar or could cross $200,000 easily. 

It is necessary for all of us to learn about BTC and what factors derive its price and what factors can lead it to $1 million which in my opinion are not present in its current state.

By the way, if we think about how old is BTC and how far it has come then we can say it really exceeds the results of gold or stocks which have been in the market for several decades. BTC market is really giving huge competition to them and has made more money for its users even the small ones.

You have made a valid point, we should not expect from someone either its an entity's or asset's performance, we should not expect more so that in the end we have to disappoint. As you said many people will say BTC performed badly while their expectations are BTC will reach $150k or $1M (I mean really).

That's why knowledge matters as if they would have some knowledge of trading volume or market cap etc. in comparison to the real-world assets then they will expect less. For example few days back one of my UNI fellows asked me can BTC reach $1 Million I said yes but not in 40 years. Because to reach that point it needs a hell lot of market cap and investment in. I might be wrong here but it is what it is.

We can't expect it to reach the moon when there is no fuel in its engine. I hope you got my point here. However, my expectations for BTC are it can reach around $100k in the upcoming bull run and that's due to a number of factors.