Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views
Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?
I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.
In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.
Just like every other cycle, we have a lot of newbies that have just joined our ranks and that do not know anything about investing, so they have expectations out of bitcoin that are impossible to achieve, not only in terms of the speed they expect bitcoin to grow, but also when it comes to the all time high that it can be reached this time around, so I find it natural they are discontent with the way things are going, however they are at fault for this and not bitcoin, and I expect that once they have experienced what the market is like their expectations will be tempered, because if this does not happen then they may get involved with coins of dubious reputation while trying to achieve their goals.