Bitcoin Forum

People should have much more healthy approach to cryptocurrencies than "get rich quick" and should use bitcoin even if it was going to take 100 years to break ATH again.

Only then the whole system makes sense, otherwise, even if Bitcoin was not meant to be a Ponzi Scheme and obviously is not a Ponzi Scheme, it is actually approached by many "investors" as Ponzi Scheme and they hope to be at the bottom of it. That is simply wrong.

If different crypto news stopped speculating about the price all the time it would be beneficial for the quality of the whole crypto sphere.
If people stopped being obsessed by the price, it would be good too.

This is an honest call to everyone to start treating this great invention as it's meant to be - digital money. Including crypto news websites and youtubers who think that putting higher expected bitcoin price in the title will bring more clicks (and sadly, it usually does).

One says 1 million USD in 1 year, another says 10 million USD and so on... stop it, please. You are doing it wrong.

I share your opinion, not the importance of bitcoin in its access to ATH or the highest price in history, the importance of bitcoin in being an innovation that will change the face of the world through the wonderful monetary system that will eliminate the corrupt banking system.
This boom that occurred during 2017 when bitcoin reached ATH made most people only care about bitcoin price, they are not interested in bitcoin development and spread around the world which is the most important thing.
They should stop thinking about the high price of bitcoin, because this is not important, but the important thing is the spread of bitcoin around the world, the spread of a culture of decentralization, maintaining privacy and ending control and centralization.

I mostly agree with everything you said, but why use clickbaitish topic name? Btw, there'll always be people treating Bitcoin as a get rich quick scheme

Its true that for someone who sees speculation that BTC will go up to $1M in a year or so, they will also believe. If it comes from someone like John Mcafee who is a popular figure in the tech world, people will believe the speculation and only to find out the price dips very low that they tend to sell out of panic.

But we just can't stop people from speculating, after all, its how currencies are dealt. Even the fiat currencies are speculated in the forex market.

They are free to share their opinions and speculations for the future price of bitcoin. And that's also your freedom to share with what you think about those thoughts that they have. Bitcoin as an asset doesn't break its purpose of being a digital money.

It just so happen that we see the value of it going high because of its scarcity. But with those too much high speculations, it's our call not to believe and see the obviousness that those are unreal prices.

Each time bitcoin see some pump, I see some FUDs or negativity around the forum. This has a great correlation. I wish I could put that correlation in a graph.
No one can say BTC won't have ATH again. No one could imagine BTC would hit $20000. No one will know where the limit is. BTC is limited and you know the usual supply from miners have decreased. Once, there will be a little organic buying pressure, it will certainly have an ATH.

In order for btc to continue you need miners.

The definition is btc is created by conversion of power into coins.

Maintenance of miners profits is done by

gears cost
Gears watt to th ratio
Coin cost or going price
Difficulty of mining.

All of the above must be there and somewhat in balance.

They got way out of balance in dec 2017
Coin price was too high or difficulty was too low.
Or maybe both.

At the moment the balance is pretty close to correct.

So expect a large shift to toss it out of balance again.

I see that your title is misleading to what you are really trying to imply, I was hoping that there is something relevant to the ATH or personal analysis of the price. But then it was all the historic misconception about it.

THere are some things that I find a hinder to the bitcoin reaching its all time high again, one of that is the number of speculators, since we already got a bunch of people in the community there are times that the speculation is above the standard,  mass speculation always turns to opposite since every one is afraid of losing an inch of increase will be a matter of decision of the mass.

What I can say is that someone seeking for fast profit investing in bitcoin will have a bad experience and probably will badmouth the digital currency later. But is that actually an issue? I don't think so... That is not the kind of adopter bitcoin needs to thrive and grow on long run.
That is not the kind of adopter who is promoting bitcoin for its truly conceptions and functionalities, instead they are just promoting it for the quick rich method purpose. Price speculation also works like a *natural selection* mechanism and I think it's working very well this way.

Some things to consider here :

1. Price of Bitcoins does not determine it's popularity
-It have proven since long that it's here to stay and therefore people are now becoming serious about the way it was supposed to be used.
-freedom from centralized system , freedom from corruption is way more important than getting rich quickly or other things that people like to extend cryptocurrencies to.

2. Right now the market is flourishing and the volatility is very low , which is actually helping people during quarantine a lot , it might not be a good go for trading but it's helping people to recognize the fact that they can count on something else too.

3. I cannot stress this enough *It might and might not reach great heights , but what it's doing is way more* , when government is targeting Bitcoins they are forgetting the good it's doing for 90% of the people. They are putting heavy tax on cryptocurrencies and such which is really hard to tolerate since they actually don't have any right to discriminate against crypto Investors.
Everyones' looking to get benefited in one way or another.

4. Even though the futures expired , even though halving came and miners had to exit , even though we have numerous whale alerts , the price was more or so very stable if you look at the back logs , which means it's now getting stable and strong.

_what we need is more people to know about cryptocurrencies , their usage , their reason to exist so that they can use it for themselves in a way that would benefit them because honestly the centralized system cares about the rich only.

But how is your post about Bitcoin not reaching its ATH anymore any different than people posting that it will reach a million?
Except they are positively thinking and your thinking negatively?

Is it a bad practice to speculate, i do not think so, you cannot expect the bitcoin market to be like the stock market but it is exactly like the forex market, the more demand the price moves higher and speculation is one aspect of these rallies.

No one consider bitcoin as ponzi and you can link both of these together. Giving higher benefit in a short period is not a wrong thing, every market in the initial phase will give a much bigger profit and bitcoin is a new market and anyone who invested in the beginning made a fortune.

If not for the speculation, you cannot call bitcoin to be a globally adoptable coin since we are far away from mass adoption because of the limitations and the confirmation time for the past few days are really high, so speculation during these times are not that bad.
 

Everything you pointed out is correct, a lot of people are indeed in this space without even knowing the concept and vision behind blockchain and bitcoin, all they know bitcoin to be is an asset that has the tendency to increase in price overnight which is not entirely true. Bitcoin as a digital asset was created to provide a decentralized currency that gives everyone freedom over their financial activities, and until the entire crypto community is able to push that agender only then we might see the mass adoption we are pushing for

From the point of view of market speculation and investment, it is totally valid that there are news, speculations with the price, because that is what it is about, Bitcoin has a very broad market with a large capitalization, there is FOMO, there are those who make false advertising, There are those who are enemies of Bitcoin, but this is the market.

A lot of news, fundamentals, bullish traps, bearish traps, this is so, this is how it happens in the Stock Market, in every speculative market it will always be like this.

On many occasions the same whales can generate all that environment as a strategy, they are things that cannot be prevented, the speculative market is riddled with all kinds of strategy in order to win-win.

Just watch how BTC progress. You can't just say to people that bitcoin should be treated "like that, that and that." Let them think the way they want.

Look at how far BTC evolves today. No doubt the adoption increase and those people who think bitcoin as a scam before changed their view about it.


Prediction and speculation is common and usual since BTC's inception.

It's up to you how will you approach it. Just don't be serious about it. You are free to ignore those.

When i will invest my millions of billions of dollars, we will see.

Much seriously, it can reach the ATH easily, some people just don't want to see it right now and the reason is obvious.

The problem here is, you don't get the basic algorithm here. Those who expect returns are investors, but the ones who expect quick returns are traders. Traders are the ones who want to get rich quick with BTC, investors hodl their investment for a long time and when they're in for a long time, how can you compare them to traders? Another thing, there are many enthusiasts who love to learn the technology behind and even try to give their contribution towards making Bitcoin more stronger as well as secure, but answer me just one thing, if you've done LLB and I'm an MBBS degree holder, who'll be called a lawyer here? So, it's truly impossible for a few to enter the whole technical aspects of BTC which is why speculation is there to let them stick to it that way.

It's not that simple op. Majority of the cryptocurrency investors invest primarily viewing BTC and other crypto as assets which is why they care a lot about the price in both the short term and the long term and this is why ATH matters a lot to them.

The minority invest in crypto viewing it as digital money and don't really care about the price or ATH which is the big issue here. The roles need to be reversed for your statement to be heard op.

However, such a reversal depends on many factors like volatility, TX fees, TX time, government bans etc. Personally, I think such a reversal will definitely happen, but it will take several more years.

I fully agree with everything you said, it's true, bitcoin is not a ponzi scheme and now the train has gone by to get rich. The basic problem is how many people reveal bitcoin as a means of getting rich fast, it's the wrong publicity that many people do about bitcoin that is wrong, instead of explaining the benefits it can bring once mass adoption uses btc as form of payment and not just looking at the value of btc

Investing in bitcoin is a big risk, so you can't really expect the price of bitcoin to reach ATH.

It might probably be going to take a long time before it reaches ATH and almost all of the investor of bitcoin doesn't really have an idea if it's going to happen so they are risking their money investing in bitcoin.

Still, a lot of investors are making a lot of profit because of the volatility of the market price you just need to believe in it and invest.

I totally agree with you, a lot of people sees bitcoin as just a quick get rich investment option where they can see their investments increase beyond imaginations within a blink of eye, it is not really healthy for the true use case of bitcoin. We need to see beyond just the speculative aspect of bitcoin and promote it's use case of decentralized money and only then will see a steady growth to it's adoption as well it's price

Even if means you are still expecting that price will go pass it's current ATH while this has contradicted your topic.
Surely I agree with you about how people are thinking bitcoin to be a get rich quick investment. Yes, that kind of thinking can make an investor to take decision that will be regretted because of inpatients to see price increase.

We can’t tell if what you have said is right about the price not going to reach ATH price again, but at the same time you’re right about people approaching Bitcoin as a Ponzi or something as such. And to be sincere, this kind of thing can be annoying at times. People who ask me about Bitcoin don’t talk about the transaction aspect of it, they only talk about how much they will be able to make when they put money into it, and then they start asking questions on how much I have invested in cryptocurrency and how much I have made, it sounds stupid to me when they start asking that kind of question.

When I started making use of cryptocurrency making profit wasn’t my aim, I was just using it for receiving payment, without minding the loss and profit I was withdrawing at anytime. It took a long time before I decided to start investing in it.

The only way Bitcoin is going to increase its value and even begin to approach its all time highest value is by gaining additional utility and/or adoption.

Until more people actually start using Bitcoin for their everyday transactions, there is no need for it to continue growing. It's not designed to be a speculative instrument, it's designed to be a mode of payment. Act like it, and it'll grow in value.

you are right people in general should stop thinking of bitcoin as a pot of gold coins that you can earn, and see it as a new way of trading that can and does grow more and at the same time support those worthwhile crypto projects that can bring many benefits

I'm sorry but that's how Bitcoin gain it's value today. Cryptocurrency is a highly speculative market, and whether you like it or not, speculations always exist as long as Bitcoin remains highly volatile asset.
And it's inevitable not to be obsessed with the price since we are investing into a digital asset.
Majority of the national government doesn't consider Bitcoin as legal tender, So crypto enthusiast are lucky enough to have a few merchants willing to accept Bitcoin as one of the payment method. As much as we want to use Bitcoin into a certain transactions, but we can't deny the fact that a lot of investors considered Bitcoin as a store of value than a medium for transaction.

IMO, nothing is wrong. Speculations and using Bitcoin as a digital money to purchase goods or pay for service is both good and healthy in the crypto ecosystem.

Those who create price speculations with the title 1 million USD in a year, 10 million USD and other price speculations, they only aim to influence new investors only for their own interests. Many methods of getting rich quick are disseminated to influence market prices.

John Mcafee is just a guy full of crap trying to speculate for the price of bitcoin. He just wants to be known by many people with his humor that is not funny at all. Just look at the speculation about the price of bitcoin which will reach $ 1 million USD by the end of 2020, that's just bullshit and just rubbish humor.
https://i.postimg.cc/850gZDRy/Screenshot-2020-07-22-John-Mc-Afee-Prediksi-Saya-Soal-Harga-Bitcoin-US-1-Juta-adalah-Humor-Blockcha.png

You can treat it whatever you want, (1) currency/money, (2) store of value (3) speculative asset, and there nothing wrong about that. Bitcoin has evolved so much in the last 10 years that most people think it as a get rich scheme specially in 2017. But those who think like that got burned and REKT, so there's always a lessons to be learn eventhough the market is very young. So it's really up to you to decide, whether it reach another all-time-high or not, its your call if you wanted to stay.

Indeed the situation of investors is quite sad now, especially for newbies who still expect to get rich instantly with Bitcoin.
This way of thinking must indeed be changed, it will create a negative effect on the development of Bitcoin. The best way to
make the price of Bitcoin back to all time high, by using Bitcoin as a digital currency rather than as a digital asset. Because
more and more people use Bitcoin for financial transactions, of course the demand will go up. With a limited amount of Bitcoin,
sooner or later will make the price of Bitcoin increasingly rising. And without us knowing the price of Bitcoin can exceed the price
of all time high again.

Ain't no wonder why most people will look that way as they brag by someone fueling such mindset and thinking wildly.
People should have to accept reality and that to change their mindset overly thinking about instant and quick returns because it is exactly driving them to nothing.

Up to this time, I'm not expecting we can easily reach back to its ATH just like in the last 2017. Too much speculation to reach $100k, $250k, I was out from it and kinda not to think this time as the crisis isn't over yet.

The title of your thread and the contents of your post aren't connected with each other. You are saying that it will never reach a new ATH but in the post you are sharing about speculating Bitcoin.

First of all, Bitcoin can be an investment too (sad to say this is how other people see it instead of being a currency) and an investment can be speculated so what's the matter in speculating it. Everybody is free to share their opinions regarding the price of it. Yes maybe there are some youtubers who are speculating way too much like what you said but people aren't believing on that prediction (at least some aren't). Those people whom you said are the ones who are clickbaiting their audiences that's it.

With regards to the new ATH, I still believe that it will but I don't know when. Maybe 1-2 years from now or 10 years we don't know :D.

Could be true, at lest for a long period of time. But can't be true forever...
Come to think about it, bitcoin can't forever remain under its all time high unless interest in it diminishes or something. And that's something unlikely to happen given bitcoin's long history.
Power is in numbers for this coin. The more nodes, the more mining power, the more robust it is and the more value on its chain. If demand rises, its price is bound to go up. It's only a matter of when the next financial crisis hits for bitcoin to go up again IMO.

Regarding Bitcoin as a get rich scheme? Let me quote Jameson Loop,

https://i.imgur.com/hsSXcou.png

https://twitter.com/lopp/status/1171847107243859968

I think this should be the mindset of every Bitcoin enthusiast and I'm sure they will change their thoughts about it overtime. This is one powerful message that everyone should know before buying themselves their first BTC.

Bitcoin volatility is due to the fact that it's still young and many investors has short term speculations for their investment because it's still an unknown asset for most people that is backed with no country or firm.
We need more players in the Crypto market to adopt Bitcoin like popular 1st world countries. From that people would stop short term selling and will be insured that their money is safe.

As time goes by we observe feelings like this around Bitcoin. Because it matters to us and sometimes we want answers about the behavior of its price that sometimes we do not understand. But what is true Bitcoin is the reason for our financial freedom, I hope we have it forever. Bitcoin is the most popular and preferred coin for everyone. We just have to adapt to the market and obtain the best benefit that it gives us. Day by day, financial solutions are being developed to be Bitcoin more than simple HOLD, ranging from earning interest, loans and other advantages.

It is true that we should managed our expectation because many out there who keep speculating and predicting impossible scenarios in a short period of time but it doesn't mean that the bitcoin will never reach it's current ATH. It is good if we will just analyzing its charts than speculating its price without basis. There are still chance that the bitcoin may reach ATH but it is currently low because the trend is still in sideways, the bullish trend is not yet starting because the current resistance is so tough.

Overall, I agree on it :). Yeah! We should really start treating it mainly as a digital currency and not a store of value since it is supposed to be its purpose. I also share the same sentiment with price speculation because it's totally pointless though it creates a little bit hype for the others.

However, the price volatility was already there and you can't close your eyes to unsee it. It was a clear opportunity to earn thus people tend to really use it on their advantage. Besides, each one of us here got the side of being business minded so why don't we grab it? Isn't it? I know it seems we are shifting to the main vision of crypto but who's to blame? I believe all of us are just adapting in current nature of bitcoin. If many use it for trading then expect the rest to do the same thing.

If we can analyze the chart. It really shows that Bitcoin is going downward and not showing any signs that it will reach/break all time high. The bars set during ATH (20k$) is so much high that's why it's very hard to break this downtrend if we view BTC price from the day it start trading and up to now. But it's possible to break, BTC just need a solid hype so that new people will be interested to buy it same as what happened during 2017. More hype, more people to invest.

The get rich quick idea is mostly because of the bubble that happened in 2017-18 and all of us that is in the crypto community knows that having such a mindset would not work, ever. Even if people do consider it as a speculative asset, it's actually fine, that is for now. Imo, most people are actually paying attention to it's characteristic of being as said, a speculative asset, which makes it's spread pretty big. Still, said characteristic would, more or less disappear slowly since supply would be limited by the next century.

Talking about another ATH is also fine, look at the wall observer thread in the forum. Basically, it's let the people develop what Bitcoin is right now. Ofc, I'm all in for saying that we should use Bitcoin for what it is, but saying that we should deny it being a speculative asset can also be wrong. No matter what is said and done, Bitcoin being a speculative asset and Bitcoin being an anonymous digital currency, both cases is still Bitcoing being what it is, Bitcoin..

Well, I agree, it is much better to approach the Bitcoin market in a conservative way rather than aggressive to avoid losing too much in the end.


Well, if the terms buy low sell high isn't fair and may tag BTC as Ponzi scheme then most probably the market system is Ponzi scheme itself.  In the market, everyone loves profit, I don't know anyone who hates it.


It won't be interesting if there is no money going around a system.  Speculation is what makes the market alive, else no one except for the tech nerds will have their attention on the blockchain technology.  The reason why merchants hop into Bitcoin  is due to these speculation that profit is in hand if they jump in and adopt the tech.  At the end of the day, it is all about profit and gain.  Even inventors especiallyt sponsors have that in mind.


Well, we can't avoid that.  In a writers rule, short but powerful titles is a must and most find exaggeration as the shortcut of it.  It is sad but it had been a practice for a very long time.



Well, I hope your message get through them.  Besides, it is their reputation that will suffer if they make an unsupported guesses just like how people look at Mcaffee now.

Perhaps, creating such statements is what helping these people to earn, they usually take advantage of the price of bitcoin to earn profit and without big bitcoin personalities not creating such hypes, there will be less engagement in bitcoin because what really makes bitcoins price increase is the demand for people towards it. So we can see tons of statements even not proven true, but there is really a possibility of it to happen. Maybe statements aren't enough, but if bitcoin will be further developed to provide better service in terms of the lower transaction fee, faster transaction speed and easier usage, this is what will really drive people to demand for bitcoin.

This is so true and I have been telling this to people from so long. Whatever you speculate bitcoin is too much overpriced for 20k dollar tag. Moreover all these price speculation make it look like a get rich quick scheme because there is no chance that a currency b selling this high. There is no intrinsic value. You just can't say the people using the network and network itself are valued at $20k per bitcoin. Think of it. Anyone can make a blockchain today so easily. Just a first mover advantage can't give you such a high price.

Right, I think not just bitcoin but we should take our investments with good approach otherwise instead of getting rich, we might get poor instead.


I think the system is perfect already, although still not old as compare to traditional global markets, it's a perfect fit for us, traders/investors.


But it become one of the best speculative asset today, what we should do is really study how everything works and don't jump if you are a newbie if you don't know what affects the price movement and thinks that the price will go on a parabolic rise.


Digital money, e-money whatever everyone calls it, great invention and we should take advantage of it.

It will never reach it's ATH when you don't have enough patience to stop checking the price on the exchanges every day. cause the rate of ATH is next to impossible because it's not that common we are talking about the rare events here which not yet happen after 3+ years. Yes, we have some price hike these past years but didn't enough to set a new ATH record. If these new investors only came here to make quick money then they are totally wrong because BTC investment are for long-term investors. The people who got some quick cash from bitcoin are only those few lucky guys who managed to invest just before the bull run.

That's the sad truth which most folks are failing to come to terms with. Nobody is going to fomo buy into bitcoin to cause its price to sky rocket but we are likely going to see it rise and fall from time to time. The highest price I will ever assume it will reach will be say around $12K, anything above that will just be a short bubble.

Never say never. Besides, it's hard to predict, especialy for a longer period of time, how the Bitcoin price will move. Just because Bitcoin price isn't rising according to our wishes we can't say that something will never happen. But even if it does or when it does you can't expect that it lasts forever. And you need to have patience. Patience is one of the most important features of good investor.

Total agreed on all your sentiments mate because this this is the main problem here in crypto community.
People tend toenter because of wrong interpretation as they are beng lured to invest with the promise of becoming rich overnight.

This is also the reason why the market stays struggling because of this image.

Imagine how would a market will increase the value if all the people are just buying and holding?
remember that this will grow by Supply and demand and not by holding.

So better change our attitude if we really wanted to make this another Hype achieved .

Bitcoin's price moving up should be treated as a nice bonus feature, not the main one. I did not understand why investors hope to be at the bottom of the scheme, however, as being at the top is the best. I feel comfortable with BTC's current relatively low volatility, but I don't like that I still cannot really use Bitcoin directly as money because it's accepted as payment very rarely. And as for the price, many here are writing that they disagree Bitcoin won't ever reach a new ATH. I agree with them on this one, we don't know what will happen in a few years, and so far Bitcoin's been doing pretty good.

It's a process that will be concluded once the market start to be strong again,
with this pandemic we are all speculating
The support is not that much to keep pushing forward but decent enough to
keep on holding from the last barrier.
We will be able to see another ATH as there are many investors and newcomers
that will start to push it little by little.
We all need to be patient and continue to believe that this industry will grow and
we will soon then see the new ATH.

people that want "get rich quickly" most of the times loss a lot of time and resources just following stupid ideas like "Bitcoin doubler" "HYIP" and every stupid activity that can help to "earn".
There is nothing guaranteed for get money. Only learn and job can give you the chance to make something valuable.
Other kind of stuffs are just ways for lose money.

About "value" predictions, yes I't s a waste of time see people sharing their opinion.
Anyone say a number and most of the times the more you say, more news appear regarding your hype!

There remains a sense of hope that the cryptocurrency could once again rise to or even exceed its former levels of prominence. For every bitcoin and cryptocurrency pessimist, it seems that there is someone else calling for a price of $100,000, $200,000 or even $1,000,000. There are reasons to be skeptical of some of these predictions, but I think that it will increase slowly.

No one will think that the price could reach almost $20k. We will see another ATH soon after the bull run comes, and if that happens, no one will know how higher bitcoin prices can increase. The bitcoin price itself has a chance to raise more than $20k, or it will back to $20k before the bull run comes, so if he doesn't have more patience to wait for the price increases, let him sell his bitcoin. If he decides to sell the bitcoin and the price starts to increase, I am sure he will regret to say that the ATH will not comes to us. He will feel sad why he chooses to sell his bitcoin too early.

It's quite pitiful that our mind and focus is after  bitcoin price, whereby forgetting the main purpose why bitcoin was created at the first place. Majority are in bitcoin just to make profit without making use of it in their daily activities to purchase goods and services.
In the year 2015/2016 individuals that has bitcoin, make use of bitcoin to live flamboyant lifestyle. I could remember a young guy that bought Lamborghini with just 1600 bitcoin that cost $115 per bitcoin in the year 2016

This is what must be but the problem is many countries those people are only allow to hold their bitcoin but has no chance of using it.
this is the main problem what people are facing now.
actually it is all about those people that create FUD and we can't do anything about that.
they are the one who's responsible for those bad people reactions.
actually  Price  is the most  important  price  for  every  investors here,because the nature  of  crypto comes as a investment material  and not as  currency literally .
agreed  on that and people should stop  the  price  speculation that huge,better to just let the market  make its flow.
and us  for  what we see is the best interest.

We cannot stop them from price speculation of bitcoin to increase. Well everyone has the high hopes once again to see it could reach an ath. Once you experience earning a profit from low price to all-time high mostly user is excited again to experience it. I think of it also that we can see bitcoin to increase slowly though we never know yet.

I hear what you are saying, and I certainly do agree with you.

But we all know, at the bottom of our hearts, we will always care about the price. Even you. Everyone wants to make money and no one wants to lose money.
And it is because of this irresistible human nature shaped by the capitalist society, prices of coins are always going to be the headliner. Unfortunately, this cannot be changed.

If BTC won't reach its ATH then McAfee will eat his dick.
Even before the price exceeds $100, there were already people saying it can't surge up but right now its more than $9k. $20,000 might just be the start because once it spikes up to its ATH, the more news spreads across the media, and it would make newcomers regret why they only invest when the price already surged.

I'd be a big liar if I said I'm not here even 1% for the money. There are only very few out here that truly use BTC just to make it become what it is supposed to - all my respect for the BTC Pizza guy for helping Bitcoin get to the point we are at today.

What I don't like is that it lately becomes more about PayPal and other centralized platform integration short-term pumps than about Bitcoin itself. Like, having a PayPal and easily purchasing BTC within 2 clicks is literally nothing besides having a virtual asset in your centralized PP account. It's way different and so much more interesting when you have to learn about wallets, how blockchain works and so on.. rather than enjoying a number increase/decrease on your screen.

But price matters as well. I'd imagine a very significant % of the current BTC holders and believers would get out if BTC was to crash to $500 tomorrow. Price does matter, but lots of people forget that there are so many other important aspects of Bitcoin - acting as if, besides price, there's nothing else to it.

Speaking from my own experience, all my friends who've bought BTC through Revolut or other similar platforms know nothing about BTC and only use it as a speculative asset. The ironic thing is, they say they're very interested in it and do see it the revolutionary future. If so, then maybe learn about it instead of focusing on the price?

I understand your position, we should focus more on the technology than the pricing, while the aforementioned narrative is important, we can't rule out speculators, I personally think this speculators add spices to the whole market and make the community a very interesting one, this has in several times cause media houses to interview cryptocurrency influences and use same opportunity to educate the people about bitcoin.   We just need to look at both sides.

Nobody knows if one day bitcoin will reach again another record high in the market ,only time and demand can tell. The important now is the adoption of bitcoin will increase and the way it will be use not just as investment and source of income but also as another form of payment that can be use anywhere and anytime like fiat money.

The funny thing is that we will always have speculators in the space with unrealistic expectations for Bitcoin's price. Just before the halving in May, It was heavily speculated that bitcoin would be worth at least 2x of the last all time high price. I saw predictions of bitcoin reaching as high as $50k in May. Those are the kind of speculation that made a lot of people not to sell at $20K and caught the knife in the end. At the end of the day, Bitcoin's price will eventually grow in due time.

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@OP, nice title. It caught my attention immediately I got on the board.

Yeah, people should have more healthy approaches regarding to crypto and bitcoin but you know what most of them want? Profit and that's logical but the worst here is that bitcoin turned into business and whales are here to get most out of it. Binance, Bitmain and other companies look bitcoin like a business and they try to be leaders here. Bitcoin was good in back, a lot of things changed recently, some for good and some for worse. The good thing is that people who use bitcoin for illegal purposes, are caught easily and bad, I already said that above.
Btw bitcoin's price rise means demand on it has increased and that's good.

I agree with the overall argument that we should all be more considerate and be treating digital currency for the innovation it is rather than for a way to make money fast - though, I think that with the right skills and time you could do. 

While I understand the frustration most of these people share about price speculators contributing to these price volatility waves I believe it is important to make others aware specially if this info comes from reputable people to either attract new investors or to at least shed some light on the projection of the future market price - this I think is completely fine.

It attracts more reads and in the long run it may help with adoptability. It is the trash talk/s that need to be filtered out but unfortunately this is the world of the internet today!

Yes, speculation really be the problem. However, in my case if btc will get a good market price then selling it would be better. Anyway, bitcoin investment is always there and will just need to wait for the next halving. This is what I have been observe. Yet, bitcoin is still risky so whenever one like to invest I think it should be now not in the next halving. I do believe bitcoin will do good in the future. There will be instances that it could go so high after this pandemic probably.

LOL you are literally doing the same thing here, making a price prediction for clicks  :D  You have no clue if bitcoin is going to reach it's all time high again or not.  You've bases these assumptions on nothing. There is nothing wrong with making price predictions and not everyone who is , is treating it like it's an investment and no digital currency.

Possibly this friend of yours are comforting themselves about their investment on BTC.  They wanted to make themselves believe that they had invest in it in a right way.  Though they should have bought Bitcoin directly and not on some other third party platform agenda.  

Who ever say that they are not in for a profit why they are so inclined to Bitcoin is lying.  There will be no interest if there is no gain or profit waiting at the end.

We can not stop people by saying the price can increase so high because people will have their analysis and prediction. What you can do now is don't think about them, and you should use your time to analyze the bitcoin price, so you can know what you need to do. When someone relates bitcoin to the Ponzi Scheme, maybe they don't know much about bitcoin so they can say like that.

The halving we just experienced should have a noticeable effect on mining difficulty, shouldn't it? Even though there are less miners and less total watts of power in the network because mining became unprofitable, the difficulty should go up by at least a small amount while keeping the balance in check, and that would correspond to a small percentage BTC price increase, like +$500 or $1000 or so.

Yeah it is so funny because they make their selves dumb because they are giving speculation that very unrealistic because they do not use enough data that they can rely on. They are just creating hype within their selves that makes them dumb whenever they execute their trades. We should know how to identify trends and of course how to identify support and resistance. We should not base our decision just because someone say that the price of the bitcoin will go up in this current year.

of course, Bitcoin will not return to its ATH in 2017...
Bitcoin will create a new ATH record, it might fly to $ 50k or even $ 100k. Bitcoin prices will continue to rise without waiting for anything, so don't speculate that the price of Bitcoin will never go up.

Your title says that bitcoin will never reach it's ATH price anymore and in the OP you keep saying to use bitcoin as it was meant to be.
Nowhere have you mentioned any reason of why bitcoin will never reach it's ATH anymore.
Though what you said is true that bitcoin should be used for payment services more rather than for speculative purpose, you should have an aprropriate tiel for the same.
You should try not to use clickbait titles as it generally decreases the quality of your post.

We might have not seen all the speculations yet, if majority of the youth or new generation will flock to this space asume that more and more wild speculations might come out. But its okey because they are part of this space by making more exciting for speculators and investors. I believed we are still at early stage.

Well, we don't know what will happen to bitcoin in the future. when the price of bitcoin was still very low, no one believed that the price of bitcoin could actually be above $ 10k, but it did. Well, however, right now there are quite a lot of people who think that bitcoin won't reach the new ATH anymore. however, we need to wait to see that. as far as I know, until now the price of bitcoin is still trying to go up.

The adoption is very close that just yesterday we saw an article that banks in US will now allow digital currency stored on them. 
This is the article. https://www.forbes.com/sites/haileylennon/2020/07/22/bitcoin-meets-banking-as-us-bank-regulator-permits-cryptocurrency-custody/

If these kicks in that regular people can finally own a coin for themselves which we normally treat as an investment, this will beat the ATH. Its positive news for crypto users but bank account owners haven't yet discovered.

Bitcoin's price will be whatever bitfinex/tether wants it to be. There might be another ATH or it may go lower. (Whichever benefits them most) tldr; it'll go up, down or sideways.  ;D

Nobody really knows. This is what you call "manipulation of the markets". And manipulated markets are dangerous.

This is part of how people wanna treat  Bitcoin.while there are people like them there are still people that treat this right like using this to circulate.
Like mind when there is a chance?i always pay using Bitcoin while the majority of my currency remains in my holding.
in this market there must be a panicking and patience these 2 makes this market moves like  profiteering but laso losing.
Good ups there mate,yeah we will  overpass the  recent Hype and  will make more than that.20k is just a peanut for the future price of Bitcoin.

But you actually posted this thread in speculation section where people keep speculating about its prices all the time. :D

Speculating can harm the crypto currency's utility but still crypto in unknown so speculating it will help more people to find what is cryptos so they can also bring more and more people so then will be there is some real adoption.

You cannot blame people here they came here because of the early birds invitation that they made huge money from holding their Bitcoin and this is the reason why they keep buying and selling for profit long term or short term, everybody wants to make money this is the reason why we are investing and the technology is only secondary but without the technology behind it we are nothing to hope for.

If we are saying instant market progress, it is really hopeless but if we are talking about its future, probably we have a big chance on it. Though volatility is still there and a reason why we really hard to come up into such another ATH but I was not closing the door for it to come again. Reaching $20k once again is considered to be an ATH for me, well, I'm not sure about you and the others as well.

I am to admit myself that I'm also thinking of Bitcoin as a kind of Ponzi-scheme before but I'd find it wrong and it was proven for many years. That is why I keep believing Bitcoin even though we can make another huge jump this year or even next year.

Indeed bitcoin is not a ponzi scheme, even if people only focus on the money part of the bitcoin world, it is still not a ponzi scheme that you could lose money.

The simple fact that in ponzi scheme there is a promised money that is not existent, so if you put in money there and you can take out that means they paid you from other people's money, and that way they can't continue forever and they will end up losing money eventually. That is why bitcoin can't be a ponzi, because in the end nobody offers you anything and that is why it can never exist since it is never promised that means someone else bought bitcoin, so the only thing that changes hand is bitcoin itself, and not a promise, that guy loses or earns but has the bitcoin and paid for that bitcoin so nobody really tricked them.

Nobody has the idea of the next move from bitcoin, but we'll have speculatives mode about this said Bitcoin. Bitcoin as a speculatives asset can't be determine by anyone but by news. In my opinion, bitcoin will hit again it all time high before this year runs out because the current market spike has clearly shown bitcoin position.

The last time i checked every genuine crypto enthusiast will always have healthy approach towards cryptocurrency but doesnt mean they should seize the chance the market create.

This cant be stop because that the foundation which literally created through trading and for crypto to prove itself been internet gold the speculation news  is needed.



Crypto market are speculative but that doesnt mean that ordinary news only determine it trend.


New bull market? Dont be too optimistic mate because nothing guarantee the bull run marketexistence than the recent pump in price which could be just slightly surge in price and it will be Monday before we can sure it a bull run.

Exceeding the ATH is perfectly possible so long as you dont overestimate the stability of main market currencies which are the alternate we measure in.   The recent moves in Dollar show we are likely to see continuing currency weakness and easily making new highs possible.
  Consider the Dollar of 2021 will not be the same dollar of 2017 yet they will appear on the graph as if they were, since value declines every year that FIAT continues it becomes increasingly likely we ascend pricing just so long as BTC maintains itself in capability and population of users.   If we have growth even then its quite reasonable to expect higher prices then $10,000.    All I will argue is patience is required and resilience as are likely to see many negatives even while BTC might rise over years.

If bitcoin will rise to $21,000, that's a new ATH, so I'll never agree with you.

Bitcoin is the king of crypto, and we know why it's called as king, for an almost worthless crypto coin, it's now a dream for enthusiast to at least own 1 btc, why? because they believe that 1 btc is worth a lot in the future, meaning they believe that adoption is happening and will continue until the crypto space will get a massive adoption.

Bitcoin is some country are considered as property, so this property is not physical, you can't say it will depreciate, but with continues adoption, it will only appreciate.

I think someone's mind cannot be forced, you are too hypocritical if you are not concerned with price, because some people are interested in bitcoin because of high market fluctuations and anytime can increase rapidly, that trust can make it come true, there is nothing wrong if someone hopes impossible thing, because here everything can be real.

I don't see the bull market just a short tine bullish and not much to be honest with the bitcoin, only price of etherum is getting increase and possibly it will reach 300 dollar mark.

it is still very difficult for bitcoin to demand FIAT money as a legal payment, due to regulatory issues in some countries that limit the use of bitcoin as a legal payment tool. Instead bitcoin is only used for commodity trading. Bitcoin adoption in several countries is increasingly visible, but still needs time to integrate everything. Bitcoin price speculation that does not make sense only as a stimulus so that bitcoin is able to reach the highest price of the current price.

yeah, it seems that younger brother (ETH) is pulling up, and BTC just follows ETH, it was usually the other way around, but now, ETH is pulling the ropes up, and already passed 0,03 BTC, i think that it can go up more than that, which is actually good for BTC as well
we have interesting times in front of us, that is for certain

People will discuss the bitcoin market price. There are many types of people here. There is a group of people who come to the crypto market with the idea of ​​getting rich quick. They are always busy discussing prices. Prediction is easy to give but it remains to be seen what the reality is. Those who are long-term investors do not always verify the value of Bitcoin in the market. They set their targets and when the time comes they will take their profits. Bitcoin will be discussed. Because Bitcoin is now in the hands of traders and investors

It seems that most of us are slowly accepting that Bitcoin would never reach a new ATH since we have been years looking at Bitcoin to actually see it break a new ATH. Well, IMO that's good since most people are exaggerating to point how Bitcoin should reach or what figure it should reach by this and that time which is kind of out of the blue. I expect something bullish next year since Bitcoin halving is already done and I'm sure there is a bull run during that time. But I don't know what figure we will be seeing but it doesn't matter anyway as long as I can make a profit.

Both will show up, thats the scary thing and why nobody should wish for any of this to occur but it likely will.     


Heres the quote Im thinking of, I take it seriously as they did have great troubles with currency at that time and upheaval obviously.   The part that rings true or makes me think especially is he mentions the alternation between both inflation and deflation.   Its the instability which causes so much damage and loss, inflation of course is a process of excess issuance where the people lose purchasing power.   Deflation also represents the same loss with bad debts more evident.     This volatility will likely lend a greater benefit to holding or the ability to hedge some costs outside of a centralised currency in BTC which is very deliberate in its regular schedule of supply.   Just that attribute alone can lead to new highs, every price is a weighing scales of factors and of supply and demand and BTC likely has a growing use to a wider audience hence bullish.

I have think along this way before but bitcoin is highly unpredictable because it is a speculative money. Many believe that bitcoin did not have intrinsic value and at that we only depend on the predictions from those big youtuber to see were it might probably be.

Predictions from YouTubers? I don't believe them anymore as I grow older on bitcoin. I've learned that all of them are giving mere guess and thoughts about the market but they're not reliable where the actual market is heading.

We believe and knew that bitcoin is a speculative asset but it doesn't mean that we rely and believe to those YouTubers in the current time. It's a matter of time that we start to realize that many predictors and speculators are there but, it's still the market's call whom you should rely to.

I wish that this crypto bubble will never burst in the near future when everyone is expecting a decent pump, but already it has burst twice first when MtGox crash and the last one was the one year low after 2017 ATH of bitcoin price.

Those big youtubers are good for nothing and only good in predicting the pump and dumps of altcoins having low market cap where they and their subscribers are the major driving force but in case of bitcoin, it isn't possible because of the market cap and daily traded volume of bitcoins above billions of dollars combined.

one thing that is a bitcoin advantage is, the price goes up and down quickly. however, ATH bitcoin is indeed very far from now, however, we don't know what will happen in the future. although many doubt that bitcoin will not reach the new ATH, but I am pretty sure that the price can approach the old ATH. this will create new hopes.

How come that the Price going up and down is advantage?this is not advantageous for Bitcoin but only for the traders.

Because this is a currency and need to be use to circulate,but now what people do?using it as materials for Holding and only few had circulating it.
What about those youtubers?lol do you think people still believe on what they are saying?people  now need proof that is the same reason why many still become a victims of scam since they are luring with genuine income at first but sooner?they will take your investments and your profit also.

Nothing is impossible and we do know that and it can happen from time to time specially into this very unpredictable market of cryptocurrency on where price is too volatile.

We are actually half way from ATH and we do able to see the current price movements and if this one would continue then we might able to see or touch it soon but it wont really be that simple

yet we do still need to experience of a hell bumpy ride or roller coaster thing. Reaching out that goal or even beyond that would take up long patience.

The action we've seen today is off the scales, its broken its price range now and exceeded all expectations.  I can see odds of 108.95 to 1 for a $11,500 price from just a week ago or so.     Very good returns for those who were bullish from its previous delays.
  Regarding the OP I would've just mentioned that we have now exceeded the 2019 peak closing weekly prices, so thats quite impressive recovery to me.   Eventually very long term I do expect it to pass even the highest prices from 2017 but I did not guess this for 2020 more like 2021 and even now I'd estimate this target.

Well, if this year the price of bitcoin can be more than $ 16k, or close to $ 20k, then I'm pretty sure the new ATH can be obtained. to be honest, we are all just speculating, it's just that, when the price has been stable for so long at $ 9k, people think that bitcoin won't reach its new ATH anymore, but every bit of price increases achieved by bitcoin, will surely create new hopes. we will see it.

I don't understand why people always set a goal and look at the price of bitcoins in that context. I mean yes the all the high is still far although we see a lot of positive movement in the prices and we might be close to the ATH very soon. But why do people always find a reason to demotivate themselves, I see no threads if bitcoins will ever reach its ATL? We always look the negative side and find a reason to demotivate each other.

I am pretty sure that in coming years there might be a scarcity of addresses holding 1 bitcoin because the price might be too high for anyone to keep 1 bitcoins alone but that might take at least 5-7 years from now, until mining becomes a menace and all the coins have extreme worth.

Its not really that much in talks of demotivating yet people did really just say on what they do have in mind basing  of on what they do saw in the market.We are free to make our own insights and if this is the
first time you do see a topic mentioning not on reaching its ATH then just respect on what theyre trying to say.

In my part, i do see these kind of input to be more realistic rather than to those predictions or insights that do talks about $100k $500k $1M price per coin prediction.What you think?

Somehow its really hard to make up conclusions because we know on how unpredictable the market is.

there are three types of people on this sphere . one is investor , second is trader and third are spenders  . the spender and trader are using bitcoin the way its meant to be but the investor wont and will only expect for the highest possible value btc can touched .

we need news and speculators to keep the action going but it should be done in a fair way and on a scheduled basis . btc is increasing once again so dont talk early because you can go wrong with your predictions .

You know what's worse? Most of the investors (and actually almost all the ones I know of) don't even actually hold Bitocin! They're just owning access to an account somewhere that shows them they have Bitcoin. No wallet. No private key. No seed.

And all this fomo, they're sending more dollars to some bank account to buy "more btc". Funny, ain't it?

Never is a funny word here, never claims it is not going to happen in a year, it is not going to happen in 5 years, not in 10, not in 20, not in 50 years.

Never is just a way too big of a word to actually mean what you think it could mean, that is why I do not agree that bitcoin will "never" reach all time high anymore, it needs to be impossible for it to reach $20k in order for me to agree with you and technically speaking it is not impossible, if someone comes up and buys 10 billion dollars wort of bitcoin tomorrow, it will be $20k tomorrow, all depends on someone with money or a company that invests that much to do it, or bunch of company/people getting together to do it. That is why I think $20k is possible, more than possible actually it is probable, we just don't know when it will happen again.

From the looks of the price of bitcoin. I think it could reach it's new ATH next year because surprisingly bitcoin already breaks it's limitation between $9,000 and $10,000 before the end of the month of July. A lot of people have said it before that bitcoin will not have a high price in the future, but look at it today it is more valuable than fiat currency.

Though you are right, but honestly Bitcoin price does matter to everyone! Imagine what will you do if Bitcoin loses its value by all? You will be shocked or will go to frustration! That's why people like to see Bitcoin at a higher price and they stop buying when the price becomes low because they feel afraid of more down! Though I dont care that over-optimistic speculation about 100K,1 Million USD per Bitcoin! But what I believe, Bitcoin will never stop surprising us!

Reaching the ATH may take time to happen again, but it's indeed surprising whenever price increases without exact reason of its increase. Whatever the price is, as long as we were able to trade and earn from it thru our skills, we will not be bother whether the price will not reach it's ATH again. Knowing when to buy and sell thru trading can still help us to keep going having bitcoin.

With banks and mobile wallets popping out and adopting to internet era there is no way that bitcoin could be used for transaction like being considered as "money" investors started appreciating it as investment and I don't see that it is a bad thing, imagine it was 2009 where it is being ignored before everyone started realizing that bitcoin has a great potential as an investment rather than a currency to be used for daily transaction.

Currently its value makes it more popular and alive if ever bitcoin never really became less of an asset then it wouldn't have became as dominant as of today.

With trading, never is always temporary.  ;D

We dont have a stable currency base, more then ever cash fixed value is not a priority but rather ensuring people (business even) 'survive' long enough to see a vaccine and avoid deaths that dont have to occur as much as possible.   For once the extraordinary devaluation of monetary base is somewhat justified however the problem is we already did that in the prior ten years & never reversed hence the lost idea a fixed number for BTC or any asset or price at all would not be exceeded in future.   This is quite unlikely especially as BTC itself is very strict in comparison, put the two on a measuring scales and BTC has a bias to rising.   Buffet I think said markets are a voting machine today and long term a weighing machine.

I think the trend with August start is for the moment in pullback, test of prior price rises and Im uncertain it immediately goes up or possible BTC can still revisit the 200 day average for confirmation and consolidation.   Never is easily possible in 2021 I reckon and 2020 some now expect new highs.   Either way its not unreasonable expectation any longer imo .

I honestly thought that bitcoin would never win its ATH again. however, now I realize that bitcoin can reach a new ATH in 2021. However, we can see its potential in 2021. If this year the price of bitcoin can exceed the price of $ 15k, or more than that, and in 2021 create a positive trend towards crypto, so I quite believe that the new ATH can be achieved.

Lets try to look around at the moment when bitcoins price hits up 11k price then there are lots of predictions flying around that bitcoins price might hit up $100k - $200k which does simply shows that
people can easily make out their own sentiments basing of on current happenings.We cant really say such word as "NEVER" because this market is unpredictable or shall we say that everything is uncertain.
Anything can happen without you being expecting that much.Bitcoin wouldnt reach its Ath anymore? 9k price wont really be that far off basing on the current price we are in.
It might take up sometime but when we do talk about possibilities then its always there.

the time to ignore bitcoin in the past is just a separate story, now the time is to find identity to be a very popular investment. it is not wrong that the cycle is still going on and bitcoin will improve both now and in the future.

totally agree that the value attached to bitcoin now makes bitcoin like the most beloved item on earth. many are trying to keep working and make bitcoin a very reliable livelihood.
actually it is not wrong to look at altcoins which are also very good for being used as a separate investment.

I just let them we are a complete community, there are community of speculators, investors bounty hunters, developers  and some shills for some coins if they want to shill the market let them everybody will benefit if market become bull and this is all we all wanted for Bitcoin to reach the highest adoption and price.

Bitcoin will continue to break its ATH, that's my prediction.
It's very simple, if you use a simple logic, the supply is limited by the demand is could increase regardless of the reason, either organic or manipulation, still the price will be affected and it will prove that bitcoin is not a stagnant asset, it's a strong asset that could rise significantly even in short term.

As we can see now, bitcoin is already bullish, soon it will touch again at $12,000 and the FOMO will once again start.

The last bitcoin ath for me is somehow low and by years will passed more and more companies, businesses, merchants will also prefer as thier payment option, therefore the demand will go up high, and the price of bitcoin will go to the moon.

Of course it will because of many reasons.

One of them is halvings that will continue to happen. If the cost of mining is high now think what will happen after another halving. Saying that we will never have another ATH is pretty naive.

Also people like to speculate with Bitcoin and they will try to play with it even if it never becomes a currency and remains an alternative investment to stocks and commodities.

Those people are more likely the new ones in this industry. If they have experienced the ups and downs before, they should have an idea of how this "game" works. By simply comparing its market value way back 5 years ago, one could be worry of what to expect and not to. Many of those who are just anticipating another "ATH" are the ones  who would more likely regret things, once a crash AGAIN occur. Just let things be, if you are into investments, then feel free to hold and to sell at a point that won't be regretful in your side.

There's no need to hype yourself since the main "thing" is unpredictable in its nature.

When you are just new then that thing you do called hyping yourself is really indeed common.When we are still noobs that kind of emotions flows through us on where we do expect up things just because we have seen people do make out big money here on this market without even realizing on how hard is the path on reaching out those numbers.

Its true that if you've been here on this market for a while now then you will definitely able to know or realize on whats the reality.Dont expect for continuous price rise and hoping that you would be rich soon.

I actually not really that much in support in talks of FOMO or just a bubble kind way of market but we cant really avoid it yet crypto space can really be into that situation in a blink of an eye.

We do need an organic and somewhat a strong or sustainable kind of growth, not just trying to look up for a big green candle on a single day or a short span of time.

Better to think for yourself and decide if how you see you'll be benefiting from your investment.

Very important to everyone to always research before doing anything, those people who are expecting too much
most of the time are the people who regrets after taking their positions, many of them loses their money as they
are not ready to take the consequence and quickly to decide out of fear in losing more.