Will the new Bitcoin ATH attract a lot of new investors ? - page 4.

Catenaccio

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Quote from: EFS on November 01, 2024, 12:41:20 AM

I don't know if we'll see an ATH anytime soon, but when Bitcoin makes a new ATH, of course it will be in the news a lot more. Average joe can also jump on the bandwagon. During ATH periods, Bitcoin has always been talked about a lot and more people have invested in it. But most of these people are transient, they will sell when the hype is over, they won't be long-term investors.

It's good that they join Bitcoin market as new investors but let's give them time that is necessary for them to change from newbies, apprentices to true Bitcoiners in next market cycles. They can join this market as speculators or traders but with time, this market and its promising chance to get profit, give them opportunities of having their own banks, will succeed to convert some of Bitcoin newbies, apprentices to Bitcoiners.

A new all time high and news about it positively can help us getting more new Bitcoiners. It means better adoption for Bitcoin and bigger demand on Bitcoin too. In long term, price will be beneficial from new participants, new in capital, better adoption and more demand on bitcoin.

CryptoBuds

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Quote from: krishnaverma on October 31, 2024, 11:16:24 PM

Bitcoin is very much near its all time high and can break it in few days. Do you think that when it crosses the all time high, it will be all over the news and lot of new investors will start investing in bitcoin ?What will be the impact of this behavior on crypto market in general ?

Every time bitcoin hits a new ATH, the news is always spread in the media, thus attracting new investors but in my opinion that is insignificant. To attract more new investors and more people to the market, we need more compelling stories. For example, someone has already taken profit and made millions of dollars in profits, news about bitcoin legalization, big institutions investing billions of dollars in bitcoin...we need more catalysts. Bitcoin reaching ATH only added to the curiosity of the crowd but was not enough to attract a large number of participants into the market.

Stories about Bitcoin hitting new ATH will not be more interesting than stories like meme coin increasing millions of percent because newbies don't know anything about bitcoin or memes, what they care about is the numbers, the profit rate.

EFS

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I don't know if we'll see an ATH anytime soon, but when Bitcoin makes a new ATH, of course it will be in the news a lot more. Average joe can also jump on the bandwagon. During ATH periods, Bitcoin has always been talked about a lot and more people have invested in it. But most of these people are transient, they will sell when the hype is over, they won't be long-term investors.

jcojci

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Yes, that will bring more new investors to Bitcoin because they will see the chance to make a big profit. They will not want to be late to take profit like others so they will start invest in Bitcoin.

But if they don't learn what it needs to prepare, they will buy when the price at peak. That will make them feels in a trap and desperate of waiting the price increase more. It has been happen to many people before.

This will impact on crypto market where the market will be more active. People tends to search for the coins that can bring them profit. But once again, if they can not analyze what they should buy, they will only trap in the wrong coins that can not gives them profit.

Apocollapse

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The current generation is full of FOMO.

When Apple launch new Iphone, people will buy it as fast as possible. When there's a popular celebrity have a concert, people will buy the ticket as fast as possible. They will buy it even though it's not useful or have zero interest over it.

So, if Bitcoin cross new ATH, it will be a BOOM and Average Joe will see articles about Bitcoin cross new ATH and encourage them to invest.

tbct_mt2

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Quote from: krishnaverma on October 31, 2024, 11:16:24 PM

Bitcoin is very much near its all time high and can break it in few days. Do you think that when it crosses the all time high, it will be all over the news and lot of new investors will start investing in bitcoin ?What will be the impact of this behavior on crypto market in general ?

New all time high will be a big break out and if we see its break out with both price and trading volume, it's signal of very strong momentum for climbing up more after the new ATH.

If a break out does not come together with a big increase in trading volume, it's will be like double top like in 2021 bull market and price will fall to Distribution phase, then a bear market will come after distribution phase completion.

A break out to make a new ATH will give media a great opportunity to write about Bitcoin and spread massive noise for Bitcoin. This impact will bring many new investors to Bitcoin market.

The psychology of market cycles

Darker45

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And we're back at $69,500. The recent surge in the price wasn't strong enough to break the ATH. It was almost there, perhaps just a couple hundreds away, but it fell short. The ATH remains the one reached 8 months ago. But, yeah, it might be shattered in a few days. We're just 6% away from it.

ATH usually creates noise. It will make headlines. Everybody who has bought Bitcoin is in profit. That's indeed worth celebrating. It might make others envious, curious, even flip. So there might be new investors because of it. Not to mention the herd mentality that prevails among many of us.

Don Pedro Dinero

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It will attract many investors because of the high price, most of whom will buy high and sell low. It is always the same. Some will eventually learn and will hold for the long term or do DCA. But some people are hooked to invest when the highs are breached and sell when the lows are breached out of fear.

Die_empty

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Quote from: krishnaverma on October 31, 2024, 11:16:24 PM

Bitcoin is very much near its all time high and can break it in few days. Do you think that when it crosses the all time high, it will be all over the news and lot of new investors will start investing in bitcoin ?What will be the impact of this behavior on crypto market in general ?

Bitcoin nearly reached its ATH of $73,737 when it got to about $72,274. Now it is trading at about $69,566 which shows that the price has dropped and didn't cross its last ATH. It is common for FOMO to increase when the price goes high. More people who want to make a quick profit will invest because they don't want to lose out.

There are so many factors that affect the price of cryptocurrencies. It might include political, economic, natural disasters, war/conflict etc. The conflict in the Middle East, US elections, ETF inflows and US FEDs meeting, among others will determine how the market will look this month.

krishnaverma

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Bitcoin is very much near its all time high and can break it in few days. Do you think that when it crosses the all time high, it will be all over the news and lot of new investors will start investing in bitcoin ?What will be the impact of this behavior on crypto market in general ?

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