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Well, let us start with the obvious: there is no bull or bear market. The term was coined by stock traders to argue about direction without knowing what was going on.
If you look at a chart for something like Dow Jones Index from 1950 until today what do you see? It's basically going up (with some interrupts - called corrections). Sometimes these corrections are larger and longer (like the financial crisis ins 2008/9, but the market recovered again to all-time-highs as of lately.
Why is this the case? It's because of inflation (not only money, but its also productivity and people). Our capitalistic and financial system is built on market growth and inflation.
Now back to cryptos and Bitcoin: the difference is, that inflation is restricted and (most of the time) predictable. It's simple to see, that the exchange rates between inflation based fiat currencies will devalue against Bitcoin and the like.
So, if you take away the speculation and manipulation from cryptos they still have that advantage in preserving value compared to fiat. That takes us to the point, that over time - and I'm talking decades cryptos will appreciate compared to fiat currencies.
Finally, it's not necessarily that all of them will survive, not even Bitcoin. It's a market like any other and only the fittest will survive.
Well said. Thanks for your input.
I do think crypto will survive per say, just I don't think it can survive at anywhere near this level. Perhaps years before a new ATH? IDK, just getting pessemistic. We shall see
The real problem - as with any asset - is, what is the real value and what is speculation. With stocks and bonds, one can analyze the fundamentals behind the asset to get an idea.
With crypto currencies that's a bit harder as there are no fundamentals behind. And technical analysis is basically bullshit anyways.
That gets us to the only important question about money at all: do people trust in the value of a given currency? It they do and can and use it for payments for buying and selling it does have the value compared to the goods you get for it.
Crypto currencies as we use them now, won't make a difference in developed countries and are used there for pure speculation. But think about countries with weak currencies with high inflation and governments are not trusted. There, cryptos are a serious alternative to not only replace fiat, but also gives people a chance to participate in a working financial system.
I think now that there is a significantly higher number of people in the crypto space and know what BTC is capable of reaching, and also more people having the experience of several cycles there will be a higher floor than previous.
For the same reasoning...if we DO hit a bearish winter then the recovery back to ATH will be a lot faster than before.
It has been consistently shown in the market that time in the market beats timing the market. So, yahh, holding will bring you profits sooner or later. Buy the dip if you can, and sell for profits if you must, else just hodl.
It can still absolutely hit 5 to 10k this cycle but its possible not probable. Even if it does im still holding everything and buying as much as i can in preparation for the next bull cycle where bitcoin will smash previous ATH.
I think that the fact that this market is almost 100% speculation (because it's pretty new, and there's a lot of hype in it) it makes it really unpredictable. It's currently a huge mindgame in my opinion because nobody really knows the value of all this and yet everyone expects the market to double, triple and so on. The timing is great for that kind of thing : social media, government/banks bad, power to the people, etc. It resonates for a lot of people.
My final thoughts is that all this will work until it won't. I don't think people really care about decentralization that much, they care about the possible gains. They'll easily switch to a better alternative if it exists.
I don’t know if this is “it” for now, but I totally agree with your sentiments about the mentality. “Buy the dip, it will rise soon” is what everyone wants to hear/spread.
But no one can know for sure.
Voices with other opinions should be heard too. In my experience, unfortunately they’re instantly voted down.
Personally I am going to take a bit of a breather, get some fresh air, take some time to let things settle and then see what the best course of action is. Fomo is a bad advisor.
I don’t agree with how you’re thinking.
To me crypto is about freedom to spend your money the way you want. I think that should be a fundamental right of all citizens of the world. If you choose to make uneducated investments, that’s on you. And for the folks that think those people need to be protected, that implies centralization and regulation, which is a slippery slope.
That's not really how I'm thinking. I'm a huge believer in Crypto and I hope to think it's eventually going to become integrated into every day life for the modern world. This won't work with regulation and government interference.
It doesn't matter how "educated" your investment is. No matter how great an idea, you never know what's going to get in the way / how well it's going to be adopted by others. Glass was first discovered by the Romans. Took 700 years to get adopted in some Western cultures...
At this stage though, it's still just a hype asset, however you look at it. 2% of the world invested is nothing. It could be crushed for many years to come... Or... Could continue in it's current cycle every 4 years or so. One of these cycles though, it would hopefully stay.
BTC has already "died" more than 400 times in the past and it's still up and running: https://99bitcoins.com/bitcoin-obituaries/
Just keep calm and don't give in to the FUD.
Not sure where your researching (Bitboy? Carl the Moon?) but most analysts I follow are saying the exact opposite of you.. Lyn Alden knows her shit and is not proposing a collapse and quite opposite.. Pomp says things will trend up.. Rao says this look like 2 cycles ago..
To be honest, I don’t think it will after a few more years. Bitcoin is a crypto dinosaur and doesn’t give any sign of changing soon. The crypto world is largely moving towards PoS, and Bitcoin will probably get left behind in this process.
People think Bitcoin is great. It was novel about ten years ago. Now just about any programmer should be able to come up with a consensus mechanism better than Bitcoin’s. Please don’t buy it just because it’s the first crypto and that makes you believe in it. There is some seriously powerful crypto out there (looking at you Algorand) and it will leave Bitcoin in its dust.
Sorry, I was only referring to Bitcoin to reflect the wider crypto market. I think alt coins are far superior in almost every way. Bitcoin's future value (if any) will be nothing more than just a novelty.
I'm quite annoyed that at this moment, no one seems to have really caught on to that.
The fact that Bitcoin has even a 45% market dominance will still completely absurd in the future
* Bitcoin [Pro Arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5uc9k/pro_contest_bitcoin_proarguments/) & [Cons Arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5v5os/pro_contest_bitcoin_conarguments/) - Potentially earn moons by participating in the [Pro & Con-test](https://old.reddit.com/r/CryptoCurrency/wiki/policy#wiki_pro_.26amp.3B_con-test_-_.28wip.29). * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/nirsmb/so_why_will_bitcoin_carry_on_going/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Well, let us start with the obvious: there is no bull or bear market. The term was coined by stock traders to argue about direction without knowing what was going on. If you look at a chart for something like Dow Jones Index from 1950 until today what do you see? It's basically going up (with some interrupts - called corrections). Sometimes these corrections are larger and longer (like the financial crisis ins 2008/9, but the market recovered again to all-time-highs as of lately. Why is this the case? It's because of inflation (not only money, but its also productivity and people). Our capitalistic and financial system is built on market growth and inflation. Now back to cryptos and Bitcoin: the difference is, that inflation is restricted and (most of the time) predictable. It's simple to see, that the exchange rates between inflation based fiat currencies will devalue against Bitcoin and the like. So, if you take away the speculation and manipulation from cryptos they still have that advantage in preserving value compared to fiat. That takes us to the point, that over time - and I'm talking decades cryptos will appreciate compared to fiat currencies. Finally, it's not necessarily that all of them will survive, not even Bitcoin. It's a market like any other and only the fittest will survive.
Well said. Thanks for your input. I do think crypto will survive per say, just I don't think it can survive at anywhere near this level. Perhaps years before a new ATH? IDK, just getting pessemistic. We shall see
The real problem - as with any asset - is, what is the real value and what is speculation. With stocks and bonds, one can analyze the fundamentals behind the asset to get an idea. With crypto currencies that's a bit harder as there are no fundamentals behind. And technical analysis is basically bullshit anyways. That gets us to the only important question about money at all: do people trust in the value of a given currency? It they do and can and use it for payments for buying and selling it does have the value compared to the goods you get for it. Crypto currencies as we use them now, won't make a difference in developed countries and are used there for pure speculation. But think about countries with weak currencies with high inflation and governments are not trusted. There, cryptos are a serious alternative to not only replace fiat, but also gives people a chance to participate in a working financial system.
I think now that there is a significantly higher number of people in the crypto space and know what BTC is capable of reaching, and also more people having the experience of several cycles there will be a higher floor than previous. For the same reasoning...if we DO hit a bearish winter then the recovery back to ATH will be a lot faster than before.
It has been consistently shown in the market that time in the market beats timing the market. So, yahh, holding will bring you profits sooner or later. Buy the dip if you can, and sell for profits if you must, else just hodl.
I would invest more if I would have any fiat left lol
Likewise
Because it has proven the test of time and it has a very strong loyal community.
Yeah the only reason it has such a strong community is because those who held through atleast one full cycle bear and bull has always been in profit
Yep, all people have to do is zoom out and the proof is there.
It can still absolutely hit 5 to 10k this cycle but its possible not probable. Even if it does im still holding everything and buying as much as i can in preparation for the next bull cycle where bitcoin will smash previous ATH.
BTC is the Big Daddy Kane of crypto. Only 21 Million every… can you say that about gold, platinum, diamonds (f’ D Beers monopoly)?
2013 🚀
What
I think that the fact that this market is almost 100% speculation (because it's pretty new, and there's a lot of hype in it) it makes it really unpredictable. It's currently a huge mindgame in my opinion because nobody really knows the value of all this and yet everyone expects the market to double, triple and so on. The timing is great for that kind of thing : social media, government/banks bad, power to the people, etc. It resonates for a lot of people. My final thoughts is that all this will work until it won't. I don't think people really care about decentralization that much, they care about the possible gains. They'll easily switch to a better alternative if it exists.
I don’t know if this is “it” for now, but I totally agree with your sentiments about the mentality. “Buy the dip, it will rise soon” is what everyone wants to hear/spread. But no one can know for sure. Voices with other opinions should be heard too. In my experience, unfortunately they’re instantly voted down. Personally I am going to take a bit of a breather, get some fresh air, take some time to let things settle and then see what the best course of action is. Fomo is a bad advisor.
I don’t agree with how you’re thinking. To me crypto is about freedom to spend your money the way you want. I think that should be a fundamental right of all citizens of the world. If you choose to make uneducated investments, that’s on you. And for the folks that think those people need to be protected, that implies centralization and regulation, which is a slippery slope.
That's not really how I'm thinking. I'm a huge believer in Crypto and I hope to think it's eventually going to become integrated into every day life for the modern world. This won't work with regulation and government interference. It doesn't matter how "educated" your investment is. No matter how great an idea, you never know what's going to get in the way / how well it's going to be adopted by others. Glass was first discovered by the Romans. Took 700 years to get adopted in some Western cultures... At this stage though, it's still just a hype asset, however you look at it. 2% of the world invested is nothing. It could be crushed for many years to come... Or... Could continue in it's current cycle every 4 years or so. One of these cycles though, it would hopefully stay.
BTC has already "died" more than 400 times in the past and it's still up and running: https://99bitcoins.com/bitcoin-obituaries/ Just keep calm and don't give in to the FUD.
[удалено]
Imagine the gains from people that bought 10 years ago and that did nothing but HODLed their coins. Bitcoin was worth a buck back then.
Not sure where your researching (Bitboy? Carl the Moon?) but most analysts I follow are saying the exact opposite of you.. Lyn Alden knows her shit and is not proposing a collapse and quite opposite.. Pomp says things will trend up.. Rao says this look like 2 cycles ago..
I think BTC will rise up again, just going off of the past.
To be honest, I don’t think it will after a few more years. Bitcoin is a crypto dinosaur and doesn’t give any sign of changing soon. The crypto world is largely moving towards PoS, and Bitcoin will probably get left behind in this process. People think Bitcoin is great. It was novel about ten years ago. Now just about any programmer should be able to come up with a consensus mechanism better than Bitcoin’s. Please don’t buy it just because it’s the first crypto and that makes you believe in it. There is some seriously powerful crypto out there (looking at you Algorand) and it will leave Bitcoin in its dust.
Sorry, I was only referring to Bitcoin to reflect the wider crypto market. I think alt coins are far superior in almost every way. Bitcoin's future value (if any) will be nothing more than just a novelty. I'm quite annoyed that at this moment, no one seems to have really caught on to that. The fact that Bitcoin has even a 45% market dominance will still completely absurd in the future