Why is cryptocurrency bullish in the long-term

[Chathusand]

At the long run, cryptocurrency will become more widely accepted, and it may even be used to buy groceries in supermarkets. The number of cryptocurrencies will decrease as more people utilize cryptocurrency. Scarcity gets more expensive as the quantity diminishes, and the price will automatically rise.

[cute nmp]

Crytocurrency has a huge potentials in the future which makes it a very good long term investment.More youths are involved it in recently more than ever so there no reason why bitcoin will not be bullish in the the long run I personally have bought and keep some for profits some time later.

[Sithara007]

Although there are usually corrections in the price of a cryptocurrency, it is usually bullish on the long run because of its adoption in the mainstream or the crypto community.  This adoption, however, increases with time which makes it bullish.
The price of bitcoin 10 years ago is really low but with its adoption over the years, it has grown to what the price is today. This means that someone who invested in bitcoin 10 years would be swimming in profits if the person didn't sell

The exchange rate for Bitcoin is solely dependent on the demand-supply equilibrium. That is not the case with other assets. For stocks, the price will depend based on the fluctuations in revenue or profit for the parent company. For gold, the prices will depend on the changes in annual mine production and recycling. But these factors are not applicable for Bitcoin. Even the changes in mining hash rate has only minimal impact on the exchange rates. It is the difference between supply and demand which determines whether the price goes up or down.

[justdimin]

Buffett said, never depend on single income,make investment to create a second source.
Investment is very important, and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

If I am to answer this your question going by the topic you have here, then it’s simply because of the law of demand and supply. When the demand is higher than the supply, the price goes up. Due to the fact that there is a growing number of people investing in the market, the price of bitcoin will continue to increase to be matching that high level of demand that the new investors are bringing to the market and that’s just it.

And to answer your question that you have asked in your write up, I would say that young people are interested in bitcoin because it’s a new technology, and since most of the young people these days are interested in new technologies especially ones like bitcoin that breaks boundaries, it’s sure going to draw their attention.

[TheUltraElite]

At the long run, cryptocurrency will become more widely accepted, and it may even be used to buy groceries in supermarkets.

A long way to go from here. But we are hopeful of that in the future. Bitcoin currently has made a mark being a good investment, so I am not sure if that motion is going to get overruled back to its original use of currency.

The number of cryptocurrencies will decrease as more people utilize cryptocurrency.

If I understand correctly, you are mistaken. The total number of coins in circulation is fixed once mining of that coin ends minting all the coins. But it never reduces.

Scarcity gets more expensive as the quantity diminishes, and the price will automatically rise.

Scarcity occurs due to demand/supply gap. If people buy and dont sell, then it becomes scarce. But there is no method to remove coins from circulation unless people forget their private keys.

Again, quantity does not diminish with time. It remains fixed after having minted all coins. However the population being covered by that same number of fixed coins keeps on increasing.

[awik p]

Although there are usually corrections in the price of a cryptocurrency, it is usually bullish on the long run because of its adoption in the mainstream or the crypto community.  This adoption, however, increases with time which makes it bullish.
The price of bitcoin 10 years ago is really low but with its adoption over the years, it has grown to what the price is today. This means that someone who invested in bitcoin 10 years would be swimming in profits if the person didn't sell

The exchange rate for Bitcoin is solely dependent on the demand-supply equilibrium. That is not the case with other assets. For stocks, the price will depend based on the fluctuations in revenue or profit for the parent company. For gold, the prices will depend on the changes in annual mine production and recycling. But these factors are not applicable for Bitcoin. Even the changes in mining hash rate has only minimal impact on the exchange rates. It is the difference between supply and demand which determines whether the price goes up or down.

this is the interesting thing about bitcoin, where the price formation is purely from supply and demand, so it is not surprising that the fluctuations in price movements are very high. this is what makes traders who dare to take high risks come to trade them. when the bullrun occurs, traders begin to arrive, plus if the news supporting bitcoin comes one after another, this causes the buying of bitcoin to last for a long time, until finally the bad news started to come and the price increase experienced a saturation point, so the price was corrected again

[jaberwock]

Buffett said, never depend on single income,make investment to create a second source.
Investment is very important, and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

If you talk about the long term movement of cryptocurrency, there is every possibility that the market will go up in years to come, if we are to make the decision based on what we have seen from the years back. If you check the all time price chart of Bitcoin you’re going to see that the price has grown to be bigger almost every year.

Then the question there is, whether you can hold for that long, that’s the next thing. The main bull run (times that the market reaches a new ATH is not something that happens regularly, it rarely happens. It can be, sometimes, in four years and that’s after the halving.

[Princejebs]

Buffett said, never depend on single income,make investment to create a second source.
Investment is very important, and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

Okay, let me tell you what just happened this evening. I just sold $30 worth of Ether in p2p Binance and I was ashamed of my self how price of Ethereum has 11x when I bought was holding some before covid-19 spread across the globe. It's just a year difference between last year and now, if I'm still holding into that, I would be so happy but lack of knowledge and inexperience made me to sell my bags at lost. It still remains my worse and biggest mistake so far that anytime I check price of coins I was holding, I feel like crying.
Hold some coins, it wouldn't do you no harm.

[jakdanyel]

I don't know if there is a reason for Bitcoin or a different cryptocurrency to be bullish in the long run. And I don't think that there is one. It's just about the nature of the market. It's always possible to see market going to the moon. For example, things are going on really great right now. Investors must be quite happy about the situation.

[TheUltraElite]

I don't know if there is a reason for Bitcoin or a different cryptocurrency to be bullish in the long run. And I don't think that there is one.

I think the reason is the deflationary supply system and that makes its price rise inherently with time. Therefore people are willing to get into it early and make some money while they still can buy a decent amount of bitcoin in whole numbers.

It's just about the nature of the market. It's always possible to see market going to the moon. For example, things are going on really great right now. Investors must be quite happy about the situation.

True, but market craze will be temporary and celebs saying good things are also temporary. The deflationary system is on the other hand permanent and so is the censorship-resistance.

Therefore there is a reason to be bullish for long term.

But this also depends on the investors own mentality and time period. If they are willing to hold for long and then sell, they help drive the price organically.