Why people are holding Bitcoin?

[Bagaji]

The reason while so may people are holding their bitcoin now is that every one is expecting profit from his or her investment. So many evidence of people who have made a lot of money from bitcoin because they bought bitcoin when the market value of Bitcoin was around  $200. I believe who ever hear such stories would like to invest in such business.

[1714296049]

1714296049

[maeusi]

Bitcoin and other currencies will replace the tradirional money. I think, in latest 20 years, we will only pay with cryptocurrencies. Why? Cryptos usually are more transparent than traditional financial terms. So governments and finance instituts will enforce electronic money. Maybe with their own cryptocurrencies.

[mostkey]

Bitcoin and other currencies will replace the tradirional money. I think, in latest 20 years, we will only pay with cryptocurrencies. Why? Cryptos usually are more transparent than traditional financial terms. So governments and finance instituts will enforce electronic money. Maybe with their own cryptocurrencies.

It seems like an overly optimistic opinion, we often think that digital currency will replace traditional money, but I think it will be very difficult, because not everyone can function properly. And it does not take a moment to be able to function it around the world.

[LouVandetta]

The price falling not gonna happen for a long time.
It was only market correction.

And the reasons peoples still holding onto their bitcoin was because they have faith in it.
That the price will rise again if they wait.

[batang_bitcoin]

Theres a very certain reason why people are holding bitcoins. It is because the chance earning good is there and people wants to earn bigger amount. It is also proven that we can possibly earn big amount if we are going to hold until the price grows higher in the future.

[cryptoblazter]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

In this industry when you hold Bitcoin or any other altcoins, it is the main and better idea for us to gain big profit of bitcoin in the future. Aside from earning that they want to get of course savings is also the other reason's too.

[ufaiz50]

I think to keep the bitcoin price is not too freefall because I heard there is a community that keeps the bitcoin prices stable. or people who buy bitcoin prices higher than the current price so they will keep bitcoin until the price recovers so as not to lose.

[Proximity Scan]

I think to keep the bitcoin price is not too freefall because I heard there is a community that keeps the bitcoin prices stable. or people who buy bitcoin prices higher than the current price so they will keep bitcoin until the price recovers so as not to lose.

Well, it's good digital asset to gold. And even everything, I trust bitcoin very much, not like other altcoins. That's why I prefer to hold bitcoins.

[Vixmore]

People are holding bitcoin as there is certainly a future to it. Why would you hold any other investments such as bonds, gold, or stocks? Because you believe in them. Believe that the value will go higher and so will the margin of profit. Bitcoin is built entirely upon this network of user trust. Ergo, the more people believe in it - the more will hold into it and the more the value will go up. We have seen bitcoins value dip a bit here and there, but it has always ended up at a much higher value a few weeks, maybe months later. That is the main point of holding and that is why more and more people hold on to it.

Now its just this August 1 'crisis' stands in the way of many in terms of their willingness to hold onto their precious coins. I still see no real reason to sell.... Sure, you can get scared but you do need to think logically about this whole situation.

... the price fall is more than the rise

WRONG.
you need to look at the bigger picture.
right now you are just looking at a short period of time where bitcoin price has came down a little. if you look at a couple of months you can see a rise from ~$880 to $2900 and right now it is sitting between $2200-$2400.

even if it falls more it will still be much much higher than the couple of months ago.

with that said, did you get your answer to why people hold bitcoin

Agreed! 👍

[giveen]

It is more beneficial to hold bitcoin than selling it when you get some profit. When bitcoin had reached $800 many people who bought $100 had sold mostly all their coins. It's 8 times the profit if you see and they got it just by holding their coins for few months. Many sold because of the profit they got but imagine if they didn't sell at $800 and were still holding it they could easily have got 20x times the profit. What you should i buy bitcoin and keep it as a security asset or as a retirement fund. Never sell bitcoin only because you are getting profit you will regret it.

[Prodigan786]

I dont really worry about bitcoin price drops it has reached upto 500$+ and reached 2900$ so current price drops doesnt make any ddifference its just a small change and also bitcoin is not falling more than rise . If it happens bitcoin would not have nay value.

[arransiv]

Because they believe that BTC is going to be the best store of value soon.I also believe that and what we experience now will just make everybody see who are the people who truly believe in the potential of BTC.A lot of news going around but the question is do you believe in the concept or not

[deisik]

People are holding bitcoin as there is certainly a future to it. Why would you hold any other investments such as bonds, gold, or stocks? Because you believe in them. Believe that the value will go higher and so will the margin of profit. Bitcoin is built entirely upon this network of user trust. Ergo, the more people believe in it - the more will hold into it and the more the value will go up. We have seen bitcoins value dip a bit here and there, but it has always ended up at a much higher value a few weeks, maybe months later. That is the main point of holding and that is why more and more people hold on to it

That's what had been driving the Bitcoin price higher and higher all these years

But you don't specify why exactly all these folks believed in Bitcoin and what specifically they believed in. But I can clarify it for you. People believed in Bitcoin simply because it was giving them profits. In other words, they believed in its future growth. Obviously, if Bitcoin didn't in fact show this growth, people would soon lose their faith. That was kinda a self-sustaining and self-feeding loop. And now it is about time this faith to be tested for real. Mark my words, if Bitcoin stagnates, people will quickly start turning their backs to it. It is no longer 2013, it is already 2017 where there are quite a few really competitive coins available, and no one will blindly believing if that means losing profits

[williamuk]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

* Deer * Headlights *

Or in other words it's psychological and omnipresent with non professionals in financials markets. People can't face making losses, it's a very powerful ego thing. So they rationalise that they haven't made losses as long as they don't sell.

[stephanirain]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

In my own opinion, people hold there bitcoins and do not sell it is because they are waiting for bitcoin's price to increase or to be more expensive in the future. We all know that bitcoin's price is very complicated to understand sometimes it raise, sometimes it fall. So it's better to wait for its price to raise that will satisfies you and you can able to sell it.

[Kelvinid]

Because they believe that BTC is going to be the best store of value soon.I also believe that and what we experience now will just make everybody see who are the people who truly believe in the potential of BTC.A lot of news going around but the question is do you believe in the concept or not

I also have high hopes on bitcoin that it will reach the best value ever.And even though its price right now falls down,i strongly believe that it will rise again soon.I'm sure a lot of people out there believed it too.Bitcoin has really a lot of potentials to discover.We only have to give our full trust to it.

[chichan13]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

Indeed. People hold their bitcoin because they know that the price of it will increase in the future and it will help them to gain more income. In addition to that, many bitcoin users hold their bitcoin and I think they will sell it in the future when the price of bitcoin is good enough to gain a high income.

[nankers]

I think there maybe considered bitcoin as a savings account for the future or they wait for the highest price of bitcoin to get a big profit when they resell...

[staceyoh]

I think people are holding bitcoin maybe
because they know that its price will increase
in the future.

[FasTroy]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

Indeed. People hold their bitcoin because they know that the price of it will increase in the future and it will help them to gain more income. In addition to that, many bitcoin users hold their bitcoin and I think they will sell it in the future when the price of bitcoin is good enough to gain a high income.

I agree with you, This is the main reason of holding bitcoins by people. Everyone want to be rich, then, they just try to collect a lot of bitcoins over theses years because they know that one day bitcoin will have an magical price, and when this moment came, people start to cashing out their bitcoin and become rich. This is a good idea, because this is what will be happend in the future as peoples expect.