Bitcoin Forum

We are all down by what Bitcoin's price is now today right?

I have read from this article https://coincentral.com/spending-to-revive-bitcoin/ that by holding Bitcoin alone and not spending it will only worsen more the price situation being experienced by almost all cryptocurrencies today. Since mostly what almost all are doing now is they are just keep on HODLING, not touching their assets. I somehow believe it since just by holding our bitcoin and not spending it waiting for moon will surely do not make any volume in market that makes it just stagnant. So its somehow better spending right?

As what our famous crypto forefather has stated before also; HODLing is not what Nakamoto envisioned ten years ago. Bitcoin’s purpose was, and still is, to replace the state-backed and monopolized fiat currencies. It seeks to give people power over the currency they use. It’s only by spending Bitcoin that we give it intrinsic value. As time progresses, this will push the currency back to one of its primary use case.

What are your thoughts?

So, why do they call Bitcoin is "crypto gold" while holding makes it lose the value? If so, the concept "crypto gold" of bitcoin is completely wrong.

But, on the other hand, the supply of bitcoin is limited. The inflation is impossible to happen in bitcoin. Holding makes bitcoin become rare and on theory, its price probably increases. There is an inconsistency here but I cannot explain it. Any thoughts?

It's partly correct for me but you can't just force the people to spend their bitcoins during the low time days.

Usage of bitcoin is changing from time to time and this is the reality. Bitcoin became a store of value and this is the reason why many people are holding it and don't want to spend it. Spending and using it do really help but you just can't force everyone with that.

i believe bitcoin is a crypto gold,,
as you know, the price of real gold was not always rise, sometimes go down hardly too my friend
and its normal,, so, nothing to worry with value of bitcoin at this moment,,
i believe when the demands come back to crypto world, bitcoin and others good cryptocurrencies will rising its value my friend  ;)

indeed the purpose of bitcoin is to replace fiat currency, but everyone is still comfortable holding it and making it an asset worth keeping. I think it's simple, if the supply or people who want to sell continues to decline or is limited and the demand to buy continues to increase, then automatically the price of bitcoin will rise.

Well you are right bitcoin is treated as a second gold in terms of its value.Theres been a speculation also that Bitcoin will follow what the gold is experiencing before regarding its value and price. https://i.imgur.com/zcF3VLJ.png
https://i.imgur.com/CF62Xlu.png

Well basically an individual doesn't have much of the capability to influence the price of a cryptocurrency, but if many individual will going to help each other buy back some cryptos, it will have a huge influence. In the meanwhile, whales do much in terms of pulling the price back.

True, most people will hodl at times like this to avoid profit loss besides spending bitcoin at low prices consumes more btc when spending at high prices. More people to hodl the more time the price will stay at certain ranges and this is where whales come in. For me, they are able to make a change in the price because they hold much more than we can. Spending and buying will not drive the price back that easily, it will take a huge volume to be spent or to be bought to make the line long in a chart.

      Yes that's really true if we are all spending our coins specially Bitcoin this will include in market circulation everyday , maybe we are misleading of holding in long-term our BTC so buying and selling can help the market bounce  to back .

Why would someone will start selling at their losses and expense?

Even you have a lot of bitcoin on hold why you would decide to sell it without any purpose? unless you really need it for something like emergency or you have a thing to purchase then that shall be fine but forcing others to sell, that's inappropriate.

If number of bitcoins spend and the number of bitcoins bought at the time were same then the prices will be stable but it is not going to happen practically and spending and selling might not have big difference other than fiat to crypto ad vice versa trades which brings the cap values to lose.

For the price to increase, the demand should be higher than the supply. It doesn't matter whether the demand is from the hodlers or users.
Hypothetically, if a coin has 100% of daily users and 0% of hodlers than the coin would have a constant price.

I just don't think it works that way. We need more people inside crypto before we can really the prices go up and I think is based on the people who uses it.

The price of bitcoin will grow up only when bitcoin populization increases; the more people they do: they will be interested in, pay for and buy goods and services in bitcoins, the higher will be the price of bitcoin.
And you will never make a person sell bitcoin cheaper than it was bought, unless there is a very urgent personal need ...

From one point of view, he is right. But think for yourself because the Hold is present in the real economy. Therefore, such a strategy should be present in the markets. It also gives rise to the entire cryptorink. Because investors keep their $ in cryptocurrency.

It can be possible to drive the prices back from normal. Because slashing out panic sellers sell order will only remain prices of sell order that is from their regular prices.

I've said it before in another thread bul I'll say it again: holding bitcoin or any other crypto for the promise of getting big profits outweighs the need of having to spend crypto. Cryptos haven't gone mainstream, it's not like you can go to any store and buy stuff cryptos, there really isn't an incentive for people who hold cryptos to spend their coins, things will change once the adoption phase kicks in and merchants start accepting cryptos as a payment option, but for now, everyone will look at cryptos like bitcoin as a form of investment.

Yes, but only capitalists can do it. Millions of dollars have no effect on bitcoin, and bitcoin will only take off when billions of dollars go into buying bitcoins. Ordinary investors usually follow the capitalist.

no you can't say that because holding is a form of long term investment and if anything it doesn't do anything to the market and the price.

the only thing that you can say is that spending bitcoin will make it grow more because it will help with the adoption so it increases the popularity and demand and since bitcoin already has a limited supply the price will go higher and higher.

It helps to a certain degree. It has to be done strategically and at intervals for it to be truly successful. Basic economics depict that, a resource has to become considerably scarce for its value to soar. When people dump, token supply become higher than the demand leading to massive dumps. A project can decide to buy back all its tokens from the weak hands, hoard them, to create natural demand leading to increase in value since the dev will be in control of the tokens. They can chose to control the prices. 

Lately I have realized a lot of people wander too much about how to stop bitcoin price from depreciation

Instead we need to find out how to ensure longevity and general acceptability of bitcoin
Instead of mulling about the problem
What is the solution ?