Topic: Treating bitcoin as a teenager. - page 6. (Read 904 times)

We can't moderate others minds, but we can moderate what we think  individually. We, as individuals, or, let me say, as bitcoinners, can moderate our own level of expectation towards what we want the price of bitcoin to be in the future, and this expectation is easily driven by recent happenings and speculation around the network.
 
But to some point we can't moderate the minds of those who are coming new into the crypto world, and even most old bitcoiners also fall into the same category of always expecting much from the network, forgetting the fact that too much expectation of something is equally what leads to disappointment.

Having too much hope that it will hit an exact price in a predicted period of time is really something craze for us to do. There is nothing bad in expecting an asset hold by someone to do well, but overdoing it usually has some negative effects when it doesn't happen as we expected it to.

Yep, the perspective from which the OP evaluates and considers it as a teenager is also very interesting, but I don't know for sure whether it has limited development or not, so I don't attach to it because I believe that the ability to develop is limitless.

Many years ago I was very confused when talking about Bitcoin, and to this day that confusion still remains, it's just that the process of being exposed to Bitcoin made me love the possibilities it solves and the way if we accept and apply it in specific industry fields. Currently, I personally still think that Bitcoin(crypto) is something very new, as not everyone knows about it, so understanding its operation is also far away.

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.

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.


Yeah, just imagine if we reach like what have been predicted in the next bull run, of about $100k-$180 give and take. So think about it when we enter the following bearish market and the price goes and fluctuate around $50k-$75k, by standards it is still big amount for us specially those early bag holders and yet we can say that we are in bear market?


On the contrary, if might just magnified what HODLing can really do for us in the long term. Very volatile asset but if we could just accumulate as much as we can and then see how it goes for us, whether newbies or experience investors.

I can agree on that; we have been expecting too much from Bitcoin lately. We can realise that when we see the current unrealistic predictions about the price of bitcoin. Bitcoin is unstoppable, and I admit it's on the primary stage yet. Bitcoin doesn't have mass adaptation yet, like the stock market. Bitcoin would reach $1 million as well, but we need a lot of time to see it. The world is moving forward with digitization, so our next generation will move with that. A lot of new investors, including institutional investors, are starting to move into Bitcoin. So yeah, once Bitcoin matures, we will see a huge impact.

Yes, it's true that Bitcoin is still a teenager, but a teenager that did out performed beyond the world's expectations by being a currency now widely use which has no barrier, and yet offers a smooth and a very fast means to transacting funds to people across borders in few seconds. However, those speculations you see people saying are what have occurred before while Bitcoin was still at more teenage age, and as such still likely to repeat it's in near future after halving.
Hence, if you can have a look at the image below, you will noticed that 365 days later after 2012 halving, the price of Bitcoin skyrocketed over 8,069%, and likewise how 365 days later after 2016 halving, the price of Bitcoin skyrocketed 284%, and same as 365 days after 2020 halving, how the price of Bitcoin went 559%, of which after 365 days after next year's 2024 halving, we are likely not to expect anything less than 200% increase in the price of Bitcoin



Image credit: Coindeck

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.

I've said this prior, the likes of MCaffee was much of a maximalist but his specuations about bitcoin still didn't come through, although he didn't have much facts backing his speculation rather than being a maximalist who has a sizeable amount of it.

We must give and allow time for Bitcoin to gain the traction and global acceptance it requires before certain projections can be achieved.

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.