Topic: Treating bitcoin as a teenager. - page 5. (Read 884 times)

I have read many articles exaggerating bitcoin price prediction's from both those who claim to be professionals and diverse bitcoin enthusiasts which I felt the necessity within to drop this piece figuratively.

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

---

A number of persons might suggest i move the topic to speculation board, however, I fondle it also suites here because the topic is not giving a prediction for BTC price but otherwise.   

-snip-
Just because bitcoin can go from $0.01 to $69k, they think bitcoin will be able to do it again easily and that going to $1 million is very easy. But they forgot to look at the market capitalization of bitcoin and that is why in recent years bitcoin no longer brings x100, x1000 profits like before, the profits that bitcoin brings are only x5, x10, and this number will get smaller and smaller as bitcoin gets bigger and bigger.

Of course, anyone wants bitcoin to cost $1 million but we need to be realistic and it won't happen soon and it won't be easy. Even the goal of 100k USD that we have cherished for so long, but bitcoin still cannot be achieved, thinking about further goals is really too delusional.

For me, people who have popularity definitely have an impact when talking about bitcoin, including predicting the price of bitcoin in the future. Although sometimes their predictions are off the mark and the price is too high.

More people predicting the price of bitcoin will create positive news for bitcoin and this will make it work organically and more people will do it interested in holding bitcoin. Influential people like Robert Kiyosaki and Elon Mask often exert significant influence when talking about Bitcoin or predicting Bitcoin prices.

People who only speculate about the price of Bitcoin that can reach $1 million or even more because they are too obsessed with Bitcoin and want Bitcoin to reach that price. For me, I don't really expect an unreasonable price for now.

Just $100k if it is really achieved is my first target point.
But if as you said, Bitcoin is not able to reach the ATH of $100k and tends to be below that is certainly not a problem,
$80k-$90k is a good enough price to take some profits.

Your logic is quite interesting, but it is what it is. Bitcoin is still young, but many people wants it to be worth a million even before it turns 18 years old, when we can actually consider it a full adult. Although it's just a lot of speculation for some people, for those who actually take those predictions so seriously, they end up getting disappointed if the price actually doesn't get to what they had expected. For me, I accept my faith in whatever outcome I get and am not very bet on resting my hope on one thing. Let's assume that Bitcoin doesn't get to $100k this coming bull market.
-snip-

The ones that expect too much from bitcoin and complain if they don't get what they expect are the new ones. I mean, they've entered bitcoin lately because of the hype. They joined it and invested in it, thinking that in an instant they could earn a lot from it, but it's not. That's why they are the ones that complain too much about bitcoin, but for those who're in bitcoin even at its lowest price, they understand a lot about bitcoin, like what the OP says's bitcoin still has a lot of potential in the future. Imagine that bitcoin is still strong after several years, indicating that bitcoin will still be strong and has the potential to grow. What I'm referring to is its technology; bitcoin can still be used in many things; we never know. That's why I don't listen to the people who complain too much about bitcoin, because I know they are the inpatient ones.

~snip~

Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

I have read many articles exaggerating bitcoin price prediction's from both those who claim to be professionals and diverse bitcoin enthusiasts which I felt the necessity within to drop this piece figuratively.

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

To be honest, I treat it as still in it's infancy, and as much as we predicted the price based on it's past performance, in just like 13 years of age, the data is still inadequate in my opinion.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

We can't stop the prediction now because it from the onset. And it is this high expectancy of prediction that making people to have hope and invest in it. So the prediction is necessary as for me. That expectation is interesting part of bitcoin. Yes as you said, bitcoin is still in it teenage age but it matured pass it colleagues in the ecosystem. I don't think the prediction can be moderated because there is a freedom of speech and everyone has the right to predict any amount of their choice.

It is the predictions that making Investors to come more so it will not discourage them but instead it bring more people to invest in it.

You forgot another free thing to do and that is free to buy any amount we want. I do agree with you that some people do say that it is expensive for them to buy but I think they are not thinking that you may buy in smaller amount and doesn't have to be a Bitcoin when they want to buy.

I am sure you know what I mean about it and if they bought Bitcoin like $1000 then that's what they will have but the amount won't be the same as it depends on the price.

Well see what they will do when it happen.

While the time passes by, you'll see more high price speculations especially when it starts to hit the 6 digits mark. That's where most of the gurus, crypto experts and even normal enthusiasts will be happy to predict their own numbers and it's going to be everywhere. This is one of the great beauty of this market, we're all free here, free to come, free to go, free to predict, free to listen but taking those it's all up to us.

We can't stop the prediction now because it from the onset. And it is this high expectancy of prediction that making people to have hope and invest in it. So the prediction is necessary as for me. That expectation is interesting part of bitcoin. Yes as you said, bitcoin is still in it teenage age but it matured pass it colleagues in the ecosystem. I don't think the prediction can be moderated because there is a freedom of speech and everyone has the right to predict any amount of their choice.

It is the predictions that making Investors to come more so it will not discourage them but instead it bring more people to invest in it.