⛔️⛔️⛔️ Is The Current Price Of Bitcoin Practical? ⛔️⛔️⛔️

[squatter]

Can we have people who actually understand the question, answer it

Given that bitcoin has risen in price by 5,000,000 times since only April 2010, Is the current price practical? It went from $0.003 per BTC to now over $16,000 USD per coin.

What exactly does "practical" mean in this context? Is the current price the product of speculative hype, and could it be overshooting actual adoption rates and realistic utility? Sure. But that's the nature of markets. But every time the bitcoin price has crashed, it has recovered with higher lows and higher highs.

The price measures supply and demand over time, and the trend is clearly telling us that adoption is increasing (among other metrics like Coinbase/Blockchain users and transaction volume). Metcalfe's law says that the value of networks is exponentially proportional to its user base. So if Bitcoin's user base is increasing linearly, we can expect that over time, the price will increase exponentially. Exactly when these cycles occur is anyone's guess.

The whales and miners control 90% of the coins. Is it really practical to expect the price not to crash?

Any evidence for that statement? Anyway, there is one rule in crypto: There will always be dips/crashes. Be ready to buy them, because it's hard to find volatility this good.

[ShortCoins]

I think the current price point is extremely high. Just in my honest opinion. It might go much higher before it crashes down, but I think the current price is unreasonably high

[thecodebear]

I think the current price point is extremely high. Just in my honest opinion. It might go much higher before it crashes down, but I think the current price is unreasonably high

The problem here is you could have said the same thing at $15,000 and $10,000 and $8000 and $5000 and $3000 and $2000.

Thinking the price is too high just because it has gone up a lot doesn't mean the price is unreasonably high. It's not a company where you can measure the price off of revenue and profits and growth. Bitcoin price is purely a function of how much money is buying vs selling. As long as people continue to believe Bitcoin will at the very least be a great store of value (not even counting its other features like the main one of using to buy things which granted right now has taken a back seat to the purely store of value and wanting to make money part) then the price will continue going up and the price will not be too high. The price essentially reflects people's belief in Bitcoin, it will go up as long as people believe it has value. It is pure like that as compared to stocks that have the ups and downs of companies behind them. Right now more and more people are believing in Bitcoin so the price is exactly where it should be, and given adoption trends this current price will probably be considered incredibly undervalued within months or even weeks.

[bill gator]

-snip-
Do you think the current price of bitcoin is practical?

You've raised some solid supply and demand statistics that look good for any HODLers and will excite any Keynesian; but as far as your question goes, I think the question is "impractical"

The price of bitcoin is constantly moving and for the past however many years it has gone nowhere except upwards and this tells me that the price of bitcoin is indeed not practical, but not in the way you may think. I think the price of bitcoin is impractically low, because I've done some "highly reliable" rag-tag math that would suggest bitcoin could practically reach $365,000 per coin, without being "overvalued". I believe that people will begin buying, selling, trading and worrying about Satoshis a lot more frequently in the future; of course the network will need to be tweaked to realistically have transaction with Satoshi dust, but I do believe that is the direction we're heading in.

I would just expect bitcoins price to continue on it's hard upward trend until it breaks beyond the aforementioned "practical" value of a coin. Obviously we'll have dips and divets along the way, but i'm talking long-term, yearly, sustainable growth.

[burnwrench]

It depends on your way of living. If you’re willing to use money for bitcoin investment then you can wait it out until you have good returns.

[eithercharon]

In the current price of Bitcoins, I can say that it is practical if and only if you are the one selling. But, otherwise, the price can't be considered practical.

[2Godbdglory]

Is the current price of bitcoin practical? I will say yes because if not that it is practical we the newbies will not know and having grassroot knowledge on Bitcoin. The price is practical because new people will have little understanding on it

[dogandogru]

Bitcoin valuation is just measured on the demand of it. BTC pricing is the practical untill the demand of buying is there is the market, no matter how high or low the price is.