What if BTC won't see ATH again? - page 10.

indah rezqi

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Quote from: a298b112 on April 21, 2023, 08:33:34 AM

Quote from: stompix on April 21, 2023, 08:09:36 AM

>snip

Once gold was money, now it is an investing tool. So is BTC.

Then what's the problem?
If you don't want to use bitcoin as a means of payment because of its price volatility, then you can use it as an investment or trading asset.

But whatever your assumptions about bitcoin, I think you just have to admit that it qualifies as a currency. Whether you want to use it or not is up to you, but bitcoin is a currency worth considering.

StreakW

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I am sure that bitcoin will reach new ATH again at least in the next halving period. Usually, when a halving occurs, the bitcoin price increases very significantly and even prints new ATH. Moreover, the Bitcoin halving plays an important role in ensuring that the supply of BTC is limited so that it can inhibit inflation against bitcoin.

DanWalker

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Quote from: CoinEraser on April 21, 2023, 06:29:59 AM

Quote from: a298b112 on April 21, 2023, 04:57:19 AM

So, let's collect here the reasons why there will be ATH for BTC.
Name one (at least) reason, please.

Bitcoin is the only asset that really has a limit of 21 million. This is an important advantage that e.g. gold, silver or other precious metals do not have. This seems to me to be an important reason why we might see a new ATH again at some point. Sure, even this advantage is no guarantee for a new ATH, but currently nothing really speaks against Bitcoin reaching a new ATH at some point, in my opinion. Wink

In my opinion, the supply cap is not enough to guarantee that bitcoin will rise in price and hit a new ATH, it is more important about its demand. I mean, even if bitcoin has a limited supply but its demand is not high, people don't value it, it can't go up in price. Supply and demand need to work together, higher demand than supply is enough to trigger higher bitcoin prices in the future. So, whether bitcoin goes up in price and hits a new ATH is entirely up to us.

yhiaali3

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A really nice and logical question. Personally, I think this is a possible possibility, although it is ruled out by most people for many reasons.

In addition to the reasons that you collected in the main topic, I see that there is a strong reason that may not have been mentioned until now, which is the historical necessity for the development of mankind. If we read the development of the financial system of mankind, we find that it always moves from an old system to a more developed system.

This makes us certain that all governments will eventually adopt Bitcoin and this means that the price of Bitcoin will continue to rise and exceed the previous ATH as global adoption continues and increases.

traderethereum

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It's okay if, after its last ATH price, bitcoin will rarely reach its new ATH in the future due to an adoption process that can explode at any time.
But that won't stop bitcoin believers from accumulating more bitcoins as they continue to believe that bitcoin will create new ATH again in the future.
Even though ATH may not happen in the next few years, people will definitely hold onto their bitcoins and look for ways to collect more.
And as long as bitcoins can still be an investment for people, they will still try to be able to have more bitcoins.

Lucius

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Quote from: stompix on April 21, 2023, 08:09:36 AM

~snip~
Seems like way too many are concerned more about the price and the gain in $ than realizing Bitcoin will work as intended by Satoshi even at $100 or $100k.
I remember Bitcoin being called "A Peer-to-Peer Electronic Cash System" not a quadruple your money every cycle earning scheme.

Let's be honest and say that maybe 1% or at best 2% of those who own Bitcoin understand why Bitcoin exists at all, and even not all of them use it at least occasionally as a currency. The price has become almost the only important factor that is discussed, and as the next halving approaches, the question posed by the OP is more and more relevant.

It would be really interesting to see what would happen if, after the next halving in 2024, there is no new ATH - the headlines would probably be screaming "Bitcoin is finally dead" from all the front pages. Angry masses of investors would curse Satoshi and fire up mining machines, some new new/old shitcoin would declare itself crypto king, and Mr. Mars would finally set off on his super rocket and disappear somewhere halfway to Mars...

Ultegra134

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Quote from: rhomelmabini on April 21, 2023, 09:10:22 AM

Quote from: a298b112 on April 21, 2023, 04:57:19 AM

Let's be honest, market do not follow any rules. There is no rule or law that says BTC should reach another ATH next cycle and next after. What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.

Not gonna argue on this one but you do have a point. Moreover, let's point your argument between gold, gold was way have more supply compare to that of Bitcoin, at 21 million capped minus those who are lost in circulation, that's the advantage plus the mining difficulty and halving periods. I'm not saying it's not possible to be on this point but there are lot of more room for growth for Bitcoin.

Correct, OP does have a point, there are no specific rules on cryptocurrencies, however, historical graphs have shown otherwise, thus, we expect that Bitcoin will eventually hit another ATH in a few years. We're not guaranteed that it'll happen, but it is possible. However, even if we suppose that doesn't happen, I'd be satisfied with a price ranging from $45,000 to $50,000, since that's almost double my DCA. My average price acquisition is at $28,000, thus, I'd still be at decent profit and I'm satisfied with that, but as I mentioned earlier, chances are that Bitcoin reaches a new ATH within the next few years.

rhomelmabini

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Quote from: a298b112 on April 21, 2023, 04:57:19 AM

Let's be honest, market do not follow any rules. There is no rule or law that says BTC should reach another ATH next cycle and next after. What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.

Not gonna argue on this one but you do have a point. Moreover, let's point your argument between gold, gold was way have more supply compare to that of Bitcoin, at 21 million capped minus those who are lost in circulation, that's the advantage plus the mining difficulty and halving periods. I'm not saying it's not possible to be on this point but there are lot of more room for growth for Bitcoin.

dragonvslinux

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Quote from: a298b112 on April 21, 2023, 04:57:19 AM

2. "... as long as fiat inflation is still happening (which means a decrease in purchasing power), you can rest assured that assets like Bitcoin will keep going strong."

I'd also point out that as long as Bitcoin's inflation drops in half every 4 years, as programmed, then there isn't a need for increased participation into the network for a new ATH.

Just maintaining the same demand and supply that currently exists is what helps to drive up price, as we have seen in 2016 and 2020. While I'm personally not a big believer of the average Westerner dumping stable (enough) fiat currencies for Bitcoin, the reality remains that in hyper-inflationary countries, these users don't have much of an alternative store of wealth that can be used for payments other than Bitcoin.

Quote from: a298b112 on April 21, 2023, 04:57:19 AM

What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.

I'm also going to say that sure, price could be in the range you referenced for a decade or longer. After all Gold was in a range for a decade between $1K and $2K. The difference being that it maintained it's high valuation ie >$1K, after previously being valued between $250 and $750 in the 80s and 90s, which means it was/is still a good store of value, hence it eventually did make a new ATH even if it took a long time again.

Don Pedro Dinero

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The OP has a point. Perhaps he worries to the extreme, but I see the point that the future need not repeat the past.

The trend of bitcoin from the beginning has been to rise in price and it is normal to assume that it will continue to do so, not only because of trend following, but because of what bitcoin is, a decentralised, limited electronic asset that does not increase its supply when the price rises.

Therefore, it is normal to assume the most probable, without ruling out the improbable, and in this case the most probable with a very high probability is that the price of bitcoin will continue to rise, and continue to break records, because of the above and because fiat currencies will continue to devalue.

To the specific question he poses, I don't worry about bitcoin never making a new ATH, because I consider it extremely unlikely, and in that case I would consider what to do, maybe ask for a job at McDonald's lol.

a298b112

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Quote from: stompix on April 21, 2023, 08:09:36 AM

Problem:

Quote

What if BTC won't see ATH again?

Solution:

Seems like way too many are concerned more about the price and the gain in $ than realizing Bitcoin will work as intended by Satoshi even at $100 or $100k.
I remember Bitcoin being called "A Peer-to-Peer Electronic Cash System" not a quadruple your money every cycle earning scheme.

Once gold was money, now it is an investing tool. So is BTC.

posi

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To be fair, bitcoin is still a relatively new asset, and bitcoin's future is uncertain, so there's still a chance it won't hit ATH even though the odds of that happening are very low. But as investors in bitcoin, we have the right to expect bitcoin to appreciate and bring more benefits to us. Bitcoin is doing very well, and if it maintains its current momentum, a price increase is quite sure.
Opportunity is always hidden in risk, and if someone can take the risk, they can find opportunities that others don't see. Bitcoin is similar, rewards should only be given to those who deserve it.

xSkylarx

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Then we have nothing to do with it because first Bitcoin was made just for us to send/recieve or transact with it , this was not made as an investment it was just the price goes up. That is why always invest what you can afford to lose but for now it is not that possible because first there will be halving next year and the mass adoption of bitcoin is increasing per year so the price is no where to go.

Nrcewker

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BTC are destined to rise in price. The reason for which I am so confident about this statement is because Bitcoins are limited in numbers, and the rise among people to acquire Bitcoins is increasing. Currently the price and marketcap is enough to prove that Bitcoins will rise. So I would say, don’t greed and think more, whenever price falls just try to accumulate as many Bitcoins as you can and hold it for long term. Definitely we will see an ATH price this year.

stompix

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Problem:

Quote

What if BTC won't see ATH again?

Solution:

Seems like way too many are concerned more about the price and the gain in $ than realizing Bitcoin will work as intended by Satoshi even at $100 or $100k.
I remember Bitcoin being called "A Peer-to-Peer Electronic Cash System" not a quadruple your money every cycle earning scheme.

CageMabok

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Quote from: monineklutak on April 21, 2023, 05:35:36 AM

True I also never doubted Bitcoin and it's only a matter of time to see Bitcoin reach ATH,
but back again we never know exactly when it will happen,
so it's better to be patient and keep up with the progress.

Apart from having to be patient to see ATH again on Bitcoin, I think everyone also needs to see some things that can influence Bitcoin's increase in the market so that there is a little better hope when being patient even though the certainty cannot be fully measured for that, so I prefer see developments that are likely to occur while making purchases at certain moments such as during a price correction.

cryptomaniac_xxx

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Quote from: a298b112 on April 21, 2023, 04:57:19 AM

Let's be honest, market do not follow any rules. There is no rule or law that says BTC should reach another ATH next cycle and next after. What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.

So, let's collect here the reasons why there will be ATH for BTC.
Name one (at least) reason, please.

Some reasons collected so far:

1. "More than 90% of the people in this world has not yet bought bitcoin, do not worry, the adoption is still continuing. You will still see bitcoin at $100000 ane more."
2. "... as long as fiat inflation is still happening (which means a decrease in purchasing power), you can rest assured that assets like Bitcoin will keep going strong."
3. "We might see multiple ATH in the future once fiat explode. Bitcoin is the alternative and safe haven for people to escape inflation."

But if you look at it's past history, every 4 years we will get into a bull and new all time high.

So are you saying that it's going to break the pattern? As we all know that during the bitcoin block halving, it lowers the supply. And just by the basic economic law, lower supply with high demand = high prices.

I doubt that your argument will happen as it the price of bitcoin is going to be stable.

CoinEraser

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Quote from: a298b112 on April 21, 2023, 04:57:19 AM

So, let's collect here the reasons why there will be ATH for BTC.
Name one (at least) reason, please.

Bitcoin is the only asset that really has a limit of 21 million. This is an important advantage that e.g. gold, silver or other precious metals do not have. This seems to me to be an important reason why we might see a new ATH again at some point. Sure, even this advantage is no guarantee for a new ATH, but currently nothing really speaks against Bitcoin reaching a new ATH at some point, in my opinion. Wink

a298b112

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Quote from: joniboini on April 21, 2023, 05:27:19 AM

Quote from: a298b112 on April 21, 2023, 04:57:19 AM

So, let's collect here the reasons why there will be ATH for BTC.
Name one (at least) reason, please.

Isn't this contradictory to your first paragraph? Let's just say that there will be no ATH and the price will fluctuate between 15k and 40k as you mentioned above, what is wrong with that? You can still use Bitcoin as usual. You can trade, DCA, and make profits through other means other than chasing new heights if that's what you're worried about. It's not like the coins become worthless if it doesn't make new ATH every 4 years or so.

That being said, as long as fiat inflation is still happening (which means a decrease in purchasing power), you can rest assured that assets like Bitcoin will keep going strong.

I think no, it is not contradictory. I think BTC becoming more like an asset rather than a payment method (money, currency etc). An asset fluctuating between ~15k and ~40k can't be money to use everyday. I mean as far as I understand it.

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Quote from: a298b112 on April 21, 2023, 04:57:19 AM

Let's be honest, market do not follow any rules. There is no rule or law that says BTC should reach another ATH next cycle and next after. What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.

Let’s be honest and consider how low the price of Bitcoin compared on its total supply. Bitcoin is scarce while fiat unlimited print is now suffering the repercussion of bloating supply. Bitcoin is performing in good times and bad time of global economy. Only time will tell which most people realize how worthless the fiat and what they are missing for not owning a piece of Bitcoin.

We might see multiple ATH in the future once fiat explode. Bitcoin is the alternative and safe haven for people to escape inflation.

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