Bitcoin Forum

In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.
The amount of threads spreading FUD and negativity are growing the longer
bitcoin fails to deliver the great expectations of some people.

It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately and so are willing to throw
the toy out or smash the sand castle because their wills are not met now.

There are times when we need to visit the whitepaper to realise what it was all
invented for and to have patience.

https://bitcoin.org/bitcoin.pdf

all that really matters when it comes to the price that people should ever care about. is not the 10 minute fluke events of ATH..
but simply this:

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000

once you grasp that mindset. people can learn to chill

A lot of young people, many not educated enough in what crypto market means, were caught by FOMO and bought Bitcoin.
Many of those have lost money (actually they'll lose money only if they sell) or at least have found their dreams for getting Lambo in a month shattered.
And now they are lost and crying.

A lot of young people are paid to cry in various ways to give the impression that everything went wrong and people have to sell - or buy - depending on what the master of puppets demands. It's market manipulation.

The result is that many are acting bad indeed, but that's only a minority imho. A vocal one, clearly, still a minority.

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000. I hope it stays below it for some time. 8)

It has not much to do with luck. The market went up way too fast in such a short period of time, so just a bit of patience was enough to welcome back sub $10,000 levels. It was bound to come down after an empty rally that was focused solely on the future markets. It's just a matter of logical thinking. The price would either bottom just around $5000 or just above $5500 and the latter was the case. The market was extremely overbought.

Don't worry, you'll have enough sub $10,000 buying opportunities for plenty of more months, I would say till somewhere in Q4 of this year. It's perfect if you plan to accumulate coins through a longer period of time. Eventually the market will fire up again. Smart people accumulate, where not so smart ones sell and keep moaning about the 'massive bear' market.

id say with ASIC mining costs to mine a btc coming down. (some pools are already using the next gen ASICS, which are going to have a public batch release in june), that as long as the network hashrate is below 90exahash you will se many pools/mining groups happy to sell below $10k, so chances are (without a speculative pump) prices could stay down for a while

Bitcoin isn't designed to make people rich overnight. The gains that bitcoin has made is merely a byproduct of the fact that adoption has been increasing drastically over the past few years.

And from a purely trading point of view, there is simply no chance that bitcoin is going to continue to go up consistently over a period of time. That's completely illogical. Cycles are going to happen, and right now, it just happens that we're in the bear phase of the cycle.

I actually see a lot of people panic selling right now as a result of the decreased prices, which doesn't make any sense. If you truly believe in what bitcoin can bring as well as its potential in the future, then you shouldn't even be this concerned about the short term price movements, unless you're looking to accumulate.

2018 and 2019 can be both under $6000.  2020 cant anymore.  But I agree, ATH is really so momentum event that no one really catch it.

But some people do not fully understand how higher costs in mining is also advantageous to the security of the network. All the nocoiner journalists report in the news is how "wasteful" mining is and how high the costs of maintaining a "ledger" is.

Securing a decentralzed and censorship resistant ledger will always come at a cost. The nocoiners should understand this.

nah. there is a lot of FUD around and it is growing each day because price is not rising but it is far from its ATH. the maximum level of FUD will be when price reaches the bottom and doesn't go any lower any longer and probably when it reverses and starts rising right after the bottom.
that is the time when everyone who missed the chance to buy at the bottom, or wanted a lower price to buy at start spreading nonsense in the name of FUD thinking they can achieve their dreams.

The problem is that those nocoiner journalists will not try to understand it because they don't want to. They simply chose the bliss of ignorance and wants to stick with traditional censored ledgers.
People cannot learn to chill(especially those new in the market) because of nocoiner journalist being more active to report a bitcoin dump than reporting a good news related to crypto in general. Most of those who cannot chill panics every time they see one report or two that is like this (https://www.coindesk.com/bitcoin-now-faces-last-major-support-level-before-5k/) and easily believes on the predictions included in the article.

You signed up just as things started to take off properly. You were spoiled until this year of course. I signed up October 2013 so had a month or two of 'fuck me, does it always do this?' followed by years of reaming.

Current sentiment is fine. There's barely a fraction of the real doom that 2014/15 fostered. At that point it was still possible to believe it was going to dwindle to nothing. Technical disaster aside, that looks far more remote these days.

Just in case you haven't notice people who are posting threads about negativity are members who have ranks "Members" and below it. This gives us a clue that they are just new people who just have entered in the market because of the recent buzz it created by Bitcoin and other cryptocurrencies on their past rally on December. Of course right now we are in a bear market and they don't know what to do, a lot of them have cut their losses and some of them are holding BTC with a paper loss on their portfolio, these people who experienced the bloody market on their first time don't have anything good to say to BTC.

2018 will still be a another great year for bitcoin, we have to live patiently. The market will continue to go down in the coming years but it will be in a different level. People will realize the importance of holding on with this great coins. Bitcoin will help me to achieve my goal this year no matter what negatives news about bitcoin, I still believe on it.

This is true, I also notice that, many of them are burned in their expectations to get rich overnight and today price is for them like game over/dead Bitcoin. They just need to change their thinking and look on things from another perspective, time will come when price will be even bigger then in December 2017. I guess some will bring a similar conclusion to themselves, but there is also those who will always write and think negatively.

I agree with this sentiment, and I actually think this is the likely outcome. Surely BTC will drop below $6k. It has tested that range twice, and I am certain it will happen again. Early 2020 is when the block halving happens, so it is very possible we will see a new ATH at the end of 2020.

Most people who came in late in the game only regard bitcoin as a means to get rich quickly and those who complain about the low prices without understanding the economic state of bitcoin. Bitcoin might possess the characteristics of a balloon but it's not that easy to inflate it once it gets deflated. There needs to be a period wherein all the gains would be redeemed or 'corrected' before it goes crazy all over again. If only these people direct their attention towardsa higher bottom, they wouldn't bother much about the ATH.

Yes this is what i mentioned above in a cynical sort of way, there have been
great expectations from nearly all newcomers to the forum. Anyone who has
been around for over 8 months or so on the forum will be more in tune with
what bitcoin markets do.

It can be quite frustrating i imagine if you have financed you bitcoin investment,
something we know now is a big no no.

Why does it surely have to drop below 6k? If anything I would be bullish when it nears 6k as that to me seems like a great support line. Combine that with the fact the hashrate has been ever increasing since December and you have a lot of bullish signs. I am not convinced of this drop that will happen to 1k and will only believe it when I see it due to the heavy support present at 6k.

Each time when bitcoin experiences a bull market, at the end there will always be a huge correction that brings prices down. That in the current scenario is what happened in January to February - a panic dump, that caused prices to plummet.

Right now what the market is doing is consolidating. We actually may go to lower prices, but I don't think we'll see prices go down by much more. After we consolidate near the bottom, the recovery should happen sooner or later.

Cycles take time, they are not something that happens overnight.

But history seems to tell us that each time bitcoin has recovered from a bear market, it has come back and set another all time high. Since institutional investors have only just started to become interested in BTC, I think the bull market this time, when it comes, will probably yield another all time high price, regardless of how much exactly it goes to.

I remember the time when there were many thread around everywhere about the death of bitcoin and many people were speculating about the death of bitcoin but now just take a look everywhere you will not find them. Bitcoin is now doing much better at least the haters now have accepted that bitcoin cannot die. A time will come when they will realize that the rise of bitcoin cannot be stopped and so they will run away from here with their failed mission.

Bitcoin is not going to reach $20k again, and if that happens at some point, it wont be during this year just like many people is thinking that it is going to be in here.  I have already assumed that.

So you say no 20k $ again, means never? But then you say this will not happens this year but in some future point...It does not make sense, it will happen again or never, you have to decide. You should also assumed all the potential that BTC have and look in the future, 9 years ago it was just joke and you can buy like 500 BTC for 1$ - and faucets give 5 BTC for solving one captcha. Pull out your wallet and count the money for 1 BTC, it is 75x100 $ bills, or go to faucet and try claim some BTC, I assure you that the amount is much smaller then 5 BTC ;)

This year surely it will reach 20k USD because many experts are said this year many countries implementing the Cryptocurrency legalisation so many peoples are interesting to buy this coin it will reflected in market so automatically Bitcoin is going to moon.

Unless something fundamental breaks, a return to 20 grand is in the bag. There's a lot more head room left.

The other question is when and I don't think it's going to be this year either. I'm not too sold on next year as well but my predictions have always been useless.

Nothing is ever sure. But there is quite high possibility that Bitcoin goes unred $6000 this or next year.   Not sure what you meant with 1k.  There is really tiny chance we would see bitcoin at $1000 ever again.

That's the problem many people in the crypto space have. It can not get quick enough for them.
What they often forget is that we are still at the beginning of something really massive, something which will change our entire future in terms of how we will act with money.
Understanding Bitcoin and why it was created in the first is something many people have absolutely no clue about. For them it's just about get rich quick and that's it.
They will get burned. leave the space and call Bitcoin a fad or a fraud. If however you have patience, learn the technical basics, and try to keep yourself updated, you will be rewarded big in the future.

Let's also just look at the market cap in total instead of just bitcoin, a lot of cryptos are going to die, maybe even bitcoin but I'm 100% confident that we will see a new ATH, a new total marketcap ATH.

We are not in year ends so why lose hope of not going to reach $20k again. I am positive btc can reach $20k we are still in early months so it is possible dude. Yes many people interested in bitcoin so many users comes in bitcoin.

Many people bought bitcoin because they heard many positive comments, such as:" in 2 months bitcoin will be worth $ 10,000. " Analyst X predicts bitcoin prices in 2050 will be $ 50,000 "How many comments of this kind did not we see? type "bitcoin will be worth 100,000 within 3 years" we did not see it obvious that people would buy bitcoin after hearing this kind of positive news, but the price fell and the expectations of those people were dropped, the dream of these people went to waste. With regulations the situation worsened for bitcoin. So it's normal to have dump

Nice one franky1. Unfortunately, since a lot of people always like to rush to make decisions and not do some research, they simply do end up making the wrong decisions or panicking over nothing. This is a wake up call for those who may actually be thinking that their investment is gone since they apparently thought bitcoin is just some get rich quick scheme. Only those who have that mentality always end up getting screwed by selling at loss out of panic and buying into FOMO. This figures year in year out alone, is enough for anyone to take a chill pill.

This! Most of the newbie investors doesn't really care about this and won't understand this.

FUDs are going on ATH too? I didn't noticed that but you've got to be right.  ;D

This ain't the part for bitcoin, this goes to our part. We are expecting too much and if it wasn't met, we put all the blame to bitcoin. Just let those people who are demanding for high price as they are looking to bitcoin as a way to become rich easy and so quickly.

Im sure it will happen one day. I debate with myself when it will happen. I too don't think it will happen this year, as Bitcoin usually goes through these long bear markets after exponential price increases. However, Bitcoin has had significantly more coverage this year, and everyone knows about it now. Things will be very different this time around.

I'm personally just hoping for more fiat pairs. It's annoying that everytime bitcoin falls everything else also falls. It's not healthy for the market so before bitcoin can reach the ATH again I hope we have more fiat pairs.

I agree, this would be very nice. Bittrex I hear has partnered up with a bank and now offers USD trading pairs. This is huge news for the altcoin space for sure. It's going to be interesting to see how/if this will affect Bitcoin in the future.

Fiat trading involves pretty firm regulations, which means that it is very likely that Bittrex will up their verification standards to match their progress. On the more positive side, having a popular crypto exchange make it possible to enter the market directly with fiat, will hopefully decrease Tether's dominance in this market. Nearly all the top exchanges are Tether exchanges, which is pretty worrying. Of course, there is no proof that they are gaming the system, but them refusing to have whatever entity audit their reserves is pretty alarming. If you don't have anything to hide as completely legal business, then what's the point of avoiding an audit the entire crypto market is waiting for....

If only possible, what we need is not price increase but to eliminate those vultures greedy cheaters  those who created false price increase so that the market of cryptocurrency will bloom by its own true capacity and not the false promises.

just having the pairs may not solve anything at all. people need to first want to use those pairs then after that the altcoins should become stand alone REAL projects not just a useless token that you use to increase your bitcoin.
so far the sole purpose of the whole altcoin market has been a speculation place for people to go and invest their "bitcoin" to make profit on it. and that is the main reason why altcoins drop each time bitcoin drops.

Hard to say that one of you is wrong as we really don't know how the market will end this year. Like last year we didn't know that the cryptocurrency market could end 2017 with a very bullish point, so bullish that a lot of new cryptocurrency entered in to the top 10 cryptocurrencies. The same can be said this 2018 we don't know when will this bearish market end or if this is just a setup for a even bigger ATH for the market. Let us just be prepared on both occasions happening in the future.

yes it is true this news has been discussed for a long time about btc death but we see until now we can still feel btc no death whatsoever just the price is decreasing now but I believe it will improve.

Very well said! A lot of new investors got into BTC during its 10x increase in price from Oct-Dec 17 to an ATH, and they are disappointed and fudding after the 60% loss of value in Jan 18 and sideways movement the 5 months since then. I prefer to look at the long term fairly steady parabolic growth of BTC the last 7 years since 2010, as you can see in this log graph I recently constructed of BTC’s price from 2010 to early 2018 - https://imgur.com/gallery/9iF3t .

And I believe that factors are positive for bitcoin to continue this long term parabolic growth for the next 7 years (recognition of BTC and interest in it by >50% of the world population, effective secure use for 8 years, 200+ dedicated developers making 6 major improvements to BTC, <1% of population currently own or use BTC which should increase to 10%+ over the next 5-10 years), which would take the value of a BTC to $1 million by early 2025 as the projection of continued parabolic growth in the log-graph shows.

But as the shorter term growth rates in the graph shows (red dots upward drowsy, green dots sideways movement of price) - there have been 5 consecutive periods since 2010 of 12-24 month periods of upward growth followed by 12-18 month periods of sideways movement of BTC’s price before the next upgrowth cycle. We are currently 6 months into the 6th period of sideways movement of BTC’s price since the ATH in Dec 17. History suggests the BTC price will move sideways at $8-10K until near the end of the year, before an upwards period of growth in 2019 to a new ATH of ~$50K from the long term parabolic growth line. I’m sure all the current nathsayers will be changing their tune then!

I think the message with BTC should be a positive one, and that we are very early adopters of a technology that will change the world, and that there will be a big ROI over the next 5-10 years for anyone owning or buying BTC now!

In trading a coin or investment in the world of our cryptocurrency as a holder of funds should be patient if you want to get big profits. Not even rash in a critical situation right now.

There will always be thread like that and it will never stop coming. If we are to be counting the thread of dead bitcoin right from when this forum has been live or when bitcoin hit the market, I am sure it should be a huge one to count by now. We may be experiencing a downtrend now, but those who can see the potential in the future obviously know better that we are not done with the era of ATHs and it may not be this year or next year, but it will always come.

You said again like you can actually see the future. That is some baseless stuff to say bro. Bitcoin will still reach $20k again and surpass it; but obviously we cannot know when it will and if anyone is giving a specific time, then that is just absurd. You should go back to check threads, where bitcoin has been declared over priced by some at $15, and may be you will understand the possibility of what the future holds for bitcoin.

The majority of manipulation has mainly been centered around negative press and a lot the FUD is from lack of expectations being met that much is certain but the market isn't in a bad position overall

The most recent bubble burst and there will likely be more bubbles in the future

Right. That will make another ath run to be quite difficult to hit since it's certain that we'll have more challenges even at this current rate. Though i'm not feeling very negative about btc's chances as well. The price can pump very quick to all time high through fomo. If triggered, btc price can shoot to the moon.

What happens after every fomo run? The price corrects massively to levels close to where it started.

We don't need more fomo runs, but something that is sustainable and makes sure we can build on it for a long period of time. Another fomo run right now would actually cause more harm than good with how this ecosystem just isn't ready for it, and neither is Bitcoin itself ready for it. We just have to face the reality and accept that something needs to change fundamentally in order to move forward.

Fomo run will once again result in;

- natural transaction fee inflation.
- bcrash camp spamming the network.
- artificial transaction fee inflation.
- exchanges not being able to handle all the use.
- exchanges to halt registrations.
- exchanges taking weeks to solve deposit issues.
- exchanges becoming less solvent due to traders withdrawing large amounts of fiat.

I prefer this calmer market, because it allows this ecosystem to adapt properly. It's a process that can take more than a year, and right now we aren't even 6 months clear from what happened during and after the peak.

Yeah newer members of our bitcoin family don't believe our past dreams. We olders invested for technology and alternative financial instruments. Now everyone seek speculative ath. Just stop thinking about ath and enjoy revolution. It will happen eventually itself..

The more we waited for it the more we might get depress so better enjoy each ride and use every opportunities we can use to earn, will go there without us noticing it at all.

If you are looking at the core of this platform then it must be used as a peer to peer currency and not as a store of value and people must not care about the store of value and if that happens there is no fake news and other manipulation, but things have changed a lot and now it is mainly a store of value because there are many obstacles to scale, we have a solution in papers and until it is implemented we cannot call it as a scaling solution and that is a fact we have to accept, price will grow if it is used as a currency and not just as a store of value.

Depending on what we prefer, it can be a store value since its an investment and can be a peer to peer currency,this what makes crypto currency interesting since it have many beneficial use.

That patience is obviously what some people will not have since they ended up having the wrong idea of investing in this space in the first place. A lot of newbies thought this is a chance for them to get rich overnight, decided to jump into a moving train and then all of a sudden, they are here now angry that bitcoin is dead or something. I guess they never did go back to the future to see the level at which bitcoin has gotten to thus far even at the low and then be able to use that to see great potential for the future.

It will come eventually, but try to do not worry and think much about this, because it will happen at some point, but not any time soon, so just be patient for it.

It is but bittrex isn't exactly very reliable considering they pretty much forced everyone to verify their accounts and then it took 5+ months to do it because their support system was garbage.