Bitcoin Forum

I have read through some recent posts on the forum and I see that many people don't quite understand the fundamentals of bitcoin, and so they may not be able to do reasonable investment decisions.

I have talked to many financial experts during real life conferences and in online chats and they all tell approximately the same. There are two types of currencies: Payment Currencies and Investment Currencies. In fact there may be other types of currencies, but lets focus on these two types for simplicity. So, investment currencies have different features as compared to payment currencies and they will develop differently. Of course, they always have mutual features and even may be a replacement of each other sometimes, but generally they designed differently and it will be a mistake to expect investment currency to behave the same as payment currency and have the same growth factors.

Bitcoin is designed as investment currency. We should just accept this fact. Of course it may be used as a method of payment, but it will never become a replacement for a fiat currency. Some future cryptocurrency will be, but not bitcoin. Bitcoin will never be directly supported by any major government. They may regulate it, legalize it, they may even invest in it through some bank or fund, but they will never support it directly. This is because government is about regulation, collection and distribution, government is not a player. If some G7 government decide to support cryptocurrency, they will create their own cryptocurrency with the features they need, they will regulate it as they need and they will treat it as the national asset.

So when investing in bitcoin we should not rely on the possibilities that will never actually happen to bitcoin. Instead, we should realize the nature of bitcoin and act accordingly. Saying that, since there are no more evident factors of bitcoin growth, we should allow it to drop. I estimate that it may cost at around $1000 as the bottom rock. And then bitcoin will grow again. In about a month time frame the whales and high-rollers will easily take it back to $6000 and the following buzz will rise it up to $10-15k in 2-3 months. This would be quite typical behavior of the investment currency. I also think that the miners industry will survive this drop without any significant issues, they will just have a month or two of loss, and then they will enjoy the long ride - quite usual wave in the business. And mostly important, if bitcoin drop down and then recover, this will be huge stimulation of the industry in general and bitcoin in particular - it will show that bitcoin can survive the crisis and repeat the growth. So we should get prepared for the drop and take it as the logical development of an investment currency, and not as the "death of bitcoin".

These are just my considerations, so please let me know your opinion.

The topic is quite interesting and informative. In principle, I agree with her main arguments. However, I never imagined that bitcoin is an investment coin. I always considered it to be a coin for making payments, and therefore that its current use as a means of accumulating value for it is not inherent in it.

Yes, its main purpose is investment coin. Bitcoin appeared as an investment project, there were no significant issues with payments that bitcoin could solve. So bitcoin introduced new technology at the mass scale and emerged mining industry, but as a payment method it is still in the quite infant stage. Now I think the whales just wait for the right moment to drop it, there is no reason for them to keep its value when they can get x5-x7 profit.

I am not sure about bitcoin dropping down to 1000 but I am confident that the price of bitcoin will drop below 5k soon. 1K is a far reach for me at this point but I am not completely ruling out the possibility of this happening at some point. I am impressed at how you elaborated on this, it is a good read. I think that everyone should prepare themselves for the worst

it doesn't matter how long a comment you make and how many reasons you bring, certain prices are simply impossible under normal circumstances. and you bringing reasons after reasons is jut showing that you don't know how the bitcoin market works and you are trying to convince yourself that it can happen.

you first come up with the price then try to think of reasons for it.

I disagree. Bitcoin is very useful as a payment method.
There is no reason to assume that no country will ever accept Bitcoin as a currency.
Governments like regulating a lot of stuff, but they can't, that is the problem. Using Bitcoin as a currency is safer for the whole government as it could bring it stability and safety.

I also disagree that it didn't solve any new problems as a payment method.
Every transaction is a script, like a small program, it allows us to do many fancy stuff, such as locktime and multisig, that you can't do with fiat.
It is a backbone of trusted payments, something that is very important.

As for the price prediction, that is the problem with predictions, if it was so clear that it would fall to 1000$ and then go back up to 6000$, it would never drop in the first place. No one is going to sell a currency under 6000$ if they knew it will be 6000$ next month.

it sounds like you are trying so hard to convince yourself!

I think bitcoin dropping to $1000 is merely impossible to happen. And dropping in the that price is not a good news or no one should be happy about it because it means bitcoin exiting the marker no more liquidity and it will be very hard to them to get their money.

People are always talking like this will happen. But it's hard to predict what will happen. Bitcoin has always made it unpredictable.

Sorry but im tired of reading this f*cking "experts" opinion here in crypto.for six months this damn crypto educated puttong their Great story about what will happen,what will be the price and when to invest,abut all of this are sucks and nothing really happens from all their good words,thts why now i am not buying anyoneof them.i trust my on research ,and even if i loss atleast its my idea not from someone

If ever it may drops to that certain price, maybe it's the start of the fall of the crypto currencies. I hope another coin will take it's place and a better one, for sure people will learn their lessons.

well in my opinion that was a perfect time to buy bitcoin and hold it with that price it will be atleast a times 3 of your investment that you can earn, maybe mt gox has a big affect about the price downtrend.

currency is a currency. there is no type to it. you can invest in any currency in the world and make profit if you know how to and are familiar with its market but when you invest in for example US dollar that doesn't turn USD into an "investment currency".
if someone told you otherwise then they are not "financial experts"!

bitcoin IS a currency like any other currency. the difference is that others like USD has been around for decades while bitcoin has been around for a couple of years. and since it is new and also new technology its price is rising for the time being and will continue to rise until it is mass adopted and used at least as much as USD is used.
during that time we will see bigger volatility.

but none of that has anything to do with dropping to $1000. you are just making your reasoning long without caring if it is even relevant reason or not.

Sure currency may have type, for example, digital currency, blockchain currency, etc. Your example with USD shows that we are speaking about different things.

No, absolutely not, maybe it sounded like this to you, but I had absolutely no intention to put it that way. I try to figure out the core fundamentals of bitcoin and then understand what could happen with the price. What psychological threshold bitcoin price may have in your opinion?

LOL. I dont believe the price of BTC is lower 5000 USD, Let's not talk about it for $ 1000. Because 5000 USD is price of "mine BTC". If the price BTC is lower the "mine price", i believe this is bad new, FUD will be appear and People will no longer believe in the market. So, The Price of BTC is 1000 USD is never occur

Base on your topic i agree with you is like is like you just said my mind, nice post.

The fact that bitcoin will not come to an end soon always give me a great pleasure, many have come out with fake analysis on how bitcoin will come down to zero but the fact still remains that it will not happened any time soo n or ever. Bitcoin price coming down to me is an advantage to buy more and gain huge when the price will rise.

If bitcoin will drop down to $1000 although i think its posible for now because price of butcoin play around 6000$ up and down.well.if thats happen its an opportunity to us to buy more bitcoin and even to the new investors.and wait again for the right time even for long term when it pump again till $20000 and all of us will becaome rich:)

I'm skeptical of your so-called "experts". What exactly are the differences between a "payment currency" and a "investment currency"? Do you have any good examples (other than cryptocurrencies)?


What about Bitcoin's design makes it specifically an "investment currency". Are you claiming that only a government-supported currency can be a "payment currency"? How do you support that claim?

My own belief is that with widespread adoption, Bitcoin will become a boring cryptocurrency with no more investment opportunity than any other major currency. And when that happens, I won't have to pay attention to any of the speculation hysteria and the world will be a much better place.

If it ever falls into that particular price, it may be the beginning of the fall of the crypto currency. I hope other coins will take the starting position and the better, surely people will learn their lesson. Thanks #CMIIW

I'm not sure I agree ... you are basically saying Bitcoin is useless, and will drop to $1000 because it's useless, but then it rise back to $15,000 for some unknown reason?  Are the only forces you see controlling the price as hype and speculation?  

I agree that Bitcoin has not caught on a payment system, but it still has time, and the developers are working on making it more attractive as a payment system.

And you have to remember why Bitcoin has already gained popularity... one of the reason's is because it's not controlled by any government.  If governments were to create their own cryptos, there is no telling if anyone would actually care.  A government crypto probably wouldn't be very attractive to your typical Bitcoin enthusiast.  

Drop back into 1000$ isn't a good signal according to my knowledges, there will be a lots of people losing in that situation and yes it's a good scene for the new comer but that will improve one thing.
"Bitcoin is absolutely a bubble".

No no, i don't think it can be, because too many holders buy it when it was about 10.000 or higher, or even 8-9 it's not so important.
While holders are hold - BTC not be able to lose price to that number.

Well, I doubt it will hit that low but who knows. If it really hits it, then we know it hit bottom, so from that moment it will just grow and we should be happy about it :D
Hold on, people, just wait still, BTC is gonna pump again soon, maybe not in 2018 or 2019, but soon...

Well honestly, i don't see any thing to b happy about BTC dropping to 1k, Unless you are a whale, , I dont see anything ice about BTC dropping to 1k at all. It might be a happy time fo new investors though

I think that it is now even becoming impossible, because a lot of investors are there who have invested a great amount of money, i do not think that they will let bitcoin go down to such a low price, they are already giving a good support to bitcoin and therefore the price is still stick there, i think that now we will see a great increase in bitcoin because of the increasing interest of the investors.

if the bitcoin falls below $ 1000 then it is bubble
but even though it happens i still believe in cryptocurrency
because cryptocurrency is needed to transfer money anywhere without having to go through the bank as an escrow

I will be happy if it dropped to that amount and im going to accumulate more of it. But how about those who bought at its peak. I don't think they will be very happy if their money is gone. Anyway, i think Bitcoin will never drop to that amount as Bitcoin is now on mainstream. Unless Bitcoin is banned worldwide and the only choice is to use the darkweb. If that happens, i think Bitcoin is going to that amount and even the death of Bitcoin.

I understand that bitcoin has a dual purpose which is a payment system and a currency for investment wherein people are more considering btc as investment rather than spending it into payments. As mentioned on the thread that btc may go down as far as $1K USD, I don't think it will go down to that level considering that there is still high demand for btc and people are still supporting bitcoin. I believe in the coming months, btc will improve further on it's market price value.

I can't think of bitcoin would drop to $1000 as I can see many users still got this current price to invest more btc. Well others should be happy about it because they can have more profits when it will suddenly go up it's price. Many possibilities can happen in the market as does fluctuates exists.

I think bitcoin will not drop to $ 1000. My prediction is a bitcoin bounce point is at $ 4000. and after that bitcoin will rise slowly.

but, if that happens, then for me it is a happiness. I will buy more bitcoin even it does not matter if I only buy 1 BTC for $ 1000.

you do not need to worry about it, because it is not going to happen, bitcoin still has too much potential and still the topmost currency of the world, therefore bitcoin is not going to reduce its value too much but hope that it will continue increasing its value again.

Bitcoin is down, it will be fun for those who are going to invest and join in the game, it's a pretty good start.

You are making too many predictions with no sources or technical analysis to back them up. Just putting out any number based on your intuition isn't going to make it happen. Also bitcoin price dropping to $1k level isn't going to happen. As dropping the markets by that much would be catastrophic and the most it will drop is around the $3k price range.

Investment you say? I never thought of Bitcoin as an investment, why you ask? Because its a Cryptocurrency, its not an investment project. Its principle is simply same as Fiat(money), but in a different form - digitized money. Don't get me wrong, a Cryptocurrency is no where near from Fiat, but from my understanding it serves the same purpose. The main advantage or disadvantage of this platform is its decentralization.

At the moment, we can use Bitcoin for different transactions but still have many flaws, and it does not introduce new technologies - whatever that means. Mining is just one way to earn them, its like a one way to earn Fiat is to take a job, that simple.

Sure the whales.  :o

Bitcoin has returned to its real value! I believe, At this time, bitcoin is priced around $ 5,000 is reasonable!
Prices of bitcoin and altcoin will increase gradually and reach the expected price in 2020.

So, there is no reason for them to keep its value when they can get the profit x5-x7. I think people should prepare themselves for the worst

It's not possible now bitcoin will drop $1000 if bitcoin will be drop so all people who want enter cryptocurrency they come now and again price increase so it's not possible.

I don't think that bitcoin would drop to $1000, it is a pipe dream, as it is still the best and very popular cryptocurrency. Many investors have got confidence on bitcoin and a lot of new investors have been investing into it.

i think thats impoasible that bitcoin will drop to $1000 if that gonna happen that will be the downfall of cryptocurries i think you just hard to convince to your self to invest in bitcoin.

Trust me when Bitcoin drops below $1000 there will be nothing to be happy about. There is going to be chaos and blood in the crypto markets. And what makes you come up with the price level of $1000, just putting any random number isn't going to help without any proper reasons or sources to back it up.

I always considered bitcoin an investment. And always happy to reduce its value. Since it is an opportunity to buy even more coins and get a good profit

It is not possible. The lowest amount is 3.5k $. Below the forecast:
 
Bitcoin price prediction for September 2021.
In the beginning price at 25016 Dollars. Maximum price $ 30770, minimum price $ 25016. The average for the month $ 27390. Bitcoin price forecast for the end of the month $ 28757, change for September 15.0%.

BTC is USD predictions for October 2021.
In the beginning price at 28757 Dollars. Maximum price $ 29806, minimum price $ 25906. The average for the month $ 28081. Bitcoin price forecast for the end of the month $ 27856, change for October -3.1%.

I am not saying that we should be happy if the valuation of bitcoin is deflating, and we all are aware with this fact also that in present times the valuation of bitcoin has deflated to a very low extent as not deflated ever in the history ever so no doubt people should panic about because they has invested into bitcoin and if the valuation is going down then it is a human nature that he will worry about but we should keep one thing in mind that bitcoin is a kind of investment and moreover volatile in nature so pumps and dumps are very common.

 ;D Bitcoin don't drop to $1000 in any case.. You are not right.
If you check chart, you can see that BTC start rise again.

hat means bitcoin is still normal as crypto and its fluctuating nature. the price will remain up and down. and when this year the bitcoin drops drastically, then there must be a chance to rise again and the bitcoin will really shake the world.

If u are saying bitcoin will drop 1000$ then its not possible, we know now market is down but bitcoin is a better currency then fiat currency and its  future is bright, 1000$ price is much far and this price was in 2016 ,yes Ur post is quite interesting and good but i wanna say this price is a dream never happen because since long time market is down so in few months u will see bullish flags.

Yes of course some will going to be very happy if bitcoin market price will drop because it will mean that they are going to invest or buy crypto. But to those people who had invested already then it is not like that when market price drop it will mean that they will going to lose some of their money if they are going to sell and had a need on it if ever.

Try to think of benefits like this :

Low cost: If you transfer money through bank to friends or relatives usually will take a cost but with Bitcoin it is free or just take a small fee.
Efficacy: Bitcoin is sent and received almost instantaneously whether you send it anywhere in the world, at any time of day or night.
High security: Transactions do not contain personal information, it is hidden on the system, allowing security of user information to avoid identity theft.
Transparency: All transaction information is included in the bitcoin trading website or electronic wallet.
Controls: Users can control their transactions without any management

I have confidence BTC in the future, the value of BTC according to the technical analysis, so as BTC back to $ 1000 is very unlikely. And of course nobody can say anything.

i think i will not happy if bitcoin price drop to 1k$ , this is not good for ecosystem because many hodler will losing their believe with bitcoin, and im sure if the price rising to 2k or 3k after hitting 1k, many hofler will sell off their coins and make bitcoin price drop again

Thank you so much for this analysis, I think it is educating and informating. It is one of best I have heard about bitcoin in recent time and I love it because it brings hope to and paints the right picture of bitcoin to the reader.

..this topic is informative,,when bitcoin reach $1000,,everybody is quite happy on the fall of it because many can afford to buy a lot of Bitcoin.because when bitcoin reach its peak value,,it is not affordable to every body to invest and buy Bitcoin..but when bitcoin falls down,,any would buy in it..this is why the demand of bitcoin changes every-time because on the users of it.

I do not think that price is appropriate for investment. If the Bitcoin price drops to $ 1,000, then all investors and whales will retreat from the crypto market. And that is also the end of the world the cryptocurrency

Like it is good if you want to but it but market of btc is not sustainable. Better invest in ICO projects and  I think that I have found a really good project - Socratus.  It is a insurance ecosystem which provide a digital platform for insurance companies . So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem such as property, flight delay, cyber insurance and etc. Their main aim is to help insurance companies to reduce costs (it can be reduced from 15 to 25 %) and  get their business on new level. Also, they powered by Smart-contracts & Socratus Oracles. It means that there is no more solo human decisions to pay or not to pay, no more lingering manual claims handling procedures. From my point of view, it is innovative and fit the market.

Bitcoin at $1000? I wish but i'd say there's virtually ZERO chance of that ever happening again. I could easily elaborate on this but i think there are people on here who are far more qualified than I to make that call.

I seriously doubt you will ever see it below 4k, but as this is crypto- you never really can be 100% certain.

Bitcoin has introduced new technology at large scale and the mining industry emerged but it is still in the infancy stage. I'm not sure about the bitcoin dropping to 1000 but I believe the bitcoin price will drop below 5k soon. I am very impressed with the way you build on it, it is a good read.

You should know that in considerations of the current state of the market that 1k drop is impossible.You are really just trying  to convince yourself. Bitcoin was actually designed to be a payment currency though and was not intended to replace fiat.

I think that would be nearly impossible for now, since it's on a higher value. It's now that so easy to bring bitcoin to that price since many countries are now adapting it's uses and privileges. If that point comes, then it is probably the end of bitcoin already.

Bitcoin price forecast for September 2021. Bitcoin price predictions for the end of the month $ 28757, change for September 15%. Prices start at $ 28757. The average for the month was $ 28081. I'm not saying that we should be happy if the bitcoin pricing is deflated, and we are all aware of this fact as well in the current time the bitcoin pricing has leaked. Quite a bit as not deflated in history

Bitcoin never dropped to $1000, this is wrong info.
In the end of year BTC price will be 40K usd, hope this happen.. :)

Are you sure that bitcoin will fall? I'm not. I think the phase of the fall is over and the growth will start soon.

Bitcoin will never touch 1000 USD again.
5000 USD will be very hart to have in this situation with the popularity of BTC now.
i just buy a lot at 6000 per BTC and will hold this for a long time.
i believe in BTC.

I think bitcoin will not fall below$6000. The market has stabilized, the fall will no longer be, now we are waiting for a small phase of calm before the big growth)

You are right.
Best choice to hold now.
This point is good for buying BTC.
I believe too.

I agree with TopicStarter, BTC is not comfortable and not user-friendly for daily transactions. But it is first crypto asset ever, which amount cant be more than 21kk coins. Demand creates supply and that's why BTC`s capitalization will always be in a first place by my opinion.

agreed. and what idiot will keep selling below 6k? the dumb money have exited many months ago. they panic bought at 15-20k panic sold below 10k. good job guys. just HODL and sell @
20-30k in a few months. sell slowly and enjoy winning the lottery in slow motion.

another good point as someone upthread might have already said. just prepare your popcorn guys. watch the same idiots finally buy back again at nosebleed prices due to FOMO. if you think the fomo in 2017 was insane wait till you see this next one..

The sole purpose of creating bitcoin was to make payments electronically over the peer to peer network. Bitcoin is serving this purpose which is why it has reached at such price. Although it has been more of an investment currency these days, it is still convenient to use it. I don't find a strong reason in your statements for bitcoin to drop to $1000 and I don't find a good reason to be happy about it either. BTC has been facing such large fluctuations for years now and I believe it will continue to happen for a long term.

That would not happen at least this year.
Because this year low has reached and i think no more low coming.
And also many new investors coming to crypto and crypto is growing as well.

I am not convinced that that will be the end of bitcoin, because until now there are still many who invest in bitcoin and still believe it and there is indeed time in terms of trading there are times above and below one day, but I assure that bitcoin will still exist

Well 1k isn't going to be pleasing for a lot of people. Even those saying that they're waiting for the price to drop more won't find it promising if we go that low. Panic would surely take grip and i don't know where we'll be after that.

In general, I agree with your opinion. I also think that bitcoin will still fall several times in price very low, but I'm not sure that up to a thousand dollars. However, this fact should not be regarded as a tragedy, although the bulk of its holders will necessarily take it as the collapse of bitcoin.
However, I do not agree with your opinion that bitcoin was created precisely as an investment currency, and not as a means of payment. It seems to me that bitcoin was created as an alternative payment system to the existing payment system and therefore its main function is still a means of payment.

We can't be happy about 1000 because that would be something horrible has happened. If you want a realistic approach than say 5k at most but when you say 1k that is just a clickbaity title to get more views on your topic and try to convince people that you know what you are talking about, you don't.

Any regular person with a normal mind would know that 1000 is not plausible for now, yet maybe 200 years from now no one will be using bitcoin who knows, but for now there is no chance that 1k will be reached. Even if it does, we can't be happy about it because for bitcoin to drop that much there needs to be a bad news.

by the end of this year or the end of 2019 do you mean?
it seems impossible at the end of this year to reach $ 40k, market conditions have not fully recovered and bitcoin prices tend to fall.

Yes. I remember when the price was hovering over $15,000 that so many people were 'hating' themselves for not having bought below $10,000 while they had all the time in the world to do it not that long before that, and now we're far below that level, people's urge to buy is completely gone. This once again points out how important an increasing market is when it comes to people's confidence.

Even if the price falls below $1000 we'll see the same happen because 90% of the participants in this industry are still believing that Bitcoin might become worth zero at some point. It's hard to imagine for most people here on this forum as Bitcoin enthusiasts, but average joes and all the gamblers actually think it is a realistic possibility.

This is so funny. We have threads here saying Bitcoin will hit 100 000$ soon and Bitcoin will go all the way to 1000$ at the same time. So, completely opposite predictions or theories, call that whatever you like for the same thing. And both are actuallly based on nothing, pure speculation based on personal feeling and hunch.
I don't think that either of these two are worth commenting and to my opinion neither of these two are possible.

For now bitcoin will not like that price because the lowest price for the bitcoin this year is only 5000 dollars. But if bitcoin totally decrease to 1000 dollars I invest more because for sure it will up with a short period of time because many people who already leave will back for sure.

Thats right buddy. I think we have reached the lowest price on bitcoin. we have experienced the worst scenario in the bitcoin market and the price hasn't dropped below $5900? and we have stabilized above that price and I don't think we will go down below $6k let alone $1000

bitcoin prices collapsed maybe because there was bad news circulating on some internet media that made many traders panic and finally made the price of bitcoin dropped like this.

Yeah you are right. Many people do not have any idea about the market of bitcoin and give statements about the future price and the current situation of the red market, like they are financial scholars. This is the main reason that I never believe in predictions and always do my own observation of the market, but I do not give any statements about the price of bitcoin.

I don’t think that the price will drop to $1000 in the near future. Now people want big bump in the price and reach to atleast $15000 till the end of this year, so that the deficit of this year will be recovered. If the price even down to $1000, it would mean that it is the end of bitcoin. There would be no future of bitcoin and nobody will buy till the rest of his life.

Completely irrelevant statement in mu point of view, we need it to get on low price but not as much as you stated. It will then take time longer than the current time so let me ask, would you be able to wait for high market then? Ofcourse no, you should take the current time perfect and favorable for your investment and later the value will not take much longer to recover so you can get your profit nearly.

I think bitcoin prices are falling again probably due to bad news that eventually makes a lot of traders panic, making them sell all of their assets at very cheap prices and make the price of bitcoin collapse like this, if only the traders are not easily panicked, the price will not fall to this extent.

Some plans to do a buyback when price became too low, it will be a good decision to sell if we knew some news that will make the price drops and buy more when it drops to gain more when it arise, though its a risk to do especially if you bought those BTC before when the price is high.