Is this SUDDEN price rise good for BTC?

[btcwish1]

First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day.  But is it really good for future of BTC?

As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this?  For example if they fix a price for a product for $400 equivalent to btc  then  tomorrow the price can be $600 or $200.   Will this sudden price rise/ drop not affect the market adoption?

What you guys think about this?

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[ecnalubma]

Well that's really an issue for businesses this time, for sure they knew it already from the start before they engage that bitcoin has no fixed value. That's why the debate is very long whether bitcoin is really a currency or a commodity.

[dancingnancy]

First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day.  But is it really good for future of BTC?

As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this?  For example if they fix a price for a product for $400 equivalent to btc  then  tomorrow the price can be $600 or $200.   Will this sudden price rise/ drop not affect the market adoption?

What you guys think about this?

It's growth was not entirely sudden, it constantly grew at intervals. The benefit of this is that laymen will get knowledge about bitcoin and be interested in investing or at least research a bit more about it. The downside however is that governments might not be entitle supportive towards bitcoin. Fluctuation is a basic factor, an individual speculation is advised to overcome this hindrance.

[Emoclaw]

The more people that adopt and use Bitcoin, the less its price will fluctuate, right now Bitcoin is at its infancy and the majority of the world doesn't know about it.
Compared to FIAT currencies, literally nobody is using Bitcoin right now.

It's also why widespread adoption is not going to occur overnight, but slowly, and theoretically Bitcoin's price will also grow at that same rate.

[btcwish1]

Because of price increase we may see more people invest in this. But where will this take BTC? If market adoption is not happening then can BTC sustain for long term? Well some one may argue that it already survived almost a decade. but again price didn't increase in such an exponential rate before, it  increased suddenly within last couple years though!

[pawanjain]

That is the reason why the people are not adopting it for their businesses. People are using it as an asset that they can trade and gain the profit from. They are using it as an investment from which they can get good returns. It may take a while now for the price to settle down.
Stability is not guaranteed in Bitcoin and this is why people are afraid of implementing BTC as a source of payment in their business.
May be after the whole world knows about it and more people start using then it might become stable in price and be used in businesses.

[Xavofat]

No.  I've been gradually selling it (a bit at a time) since around $3000.  

As much as people would love to think that this is natural and that it can only go higher, I'd say that they're just getting caught up in euphoric speculation.  They're becoming too content with rapid exponential price rises and they're beginning to use the past to predict the future.

People are acting like I should regret selling "early", but IMO this is at a point where the price rises are illogical, so when it rises, it's only outcome bias that makes people think they were right to continue holding at that point.

[CryptoUser25]

This sudden price rise is very good for the popularity of bitcoin as investors will speak with their friends and families about it and it will make it even more famous. On top of this, if you can make 600% profit within 7 months it will draw more investors in and the price will rise further and this will draw more investors in and so on. 

Yes its cool to say to your friends that bitcoin is worth now a lot. So they will think about also to do a investment to bitcoin. Actually the increase in price is good for investors.

They will have the motivation to even wait more for selling.

[nareshrohra]

It is good if its price increases because of its application in real world. But, the current increase is because of FOMO and greed, which definitely is not good. It will see correction soon when until then enjoy the bull run

[w5pn73]

That is the reason why the people are not adopting it for their businesses. People are using it as an asset that they can trade and gain the profit from. They are using it as an investment from which they can get good returns. It may take a while now for the price to settle down.
Stability is not guaranteed in Bitcoin and this is why people are afraid of implementing BTC as a source of payment in their business.
May be after the whole world knows about it and more people start using then it might become stable in price and be used in businesses.

The fee's, transaction speeds and now the high price are all aspects that have turned bitcoin into a commodity.
Besides that people use it as investment, the above aspects take btc out of the equation to be a currency, at least at this point in time.

[prabakharras]

Its definitely good for the whole crypto economy.
Bitcoin holders feels rich to reinvest their gains in other projects which cycles itself

[pekobites]

Yes it's good

Bitcoin needs to continue feeding the Satoshi cycle to reach the mainstream

https://cointelegraph.com/news/satoshi-cycle-interest-in-bitcoin-raises-price-which-raises-interest

BUT

The price is also going up because of so many people buying Bitcoin because of the next Fork, and forks in the end are slowing down the mainstream adoption as they complicate crypto even more for the common people and sow FUD into their trembling hearts

[matuson]

This sudden price rise is very good for the popularity of bitcoin and its future as investors will speak with their friends and families about it and this will make it even more famous. On top of this, if you can make 600% profit within 7 months it will draw more investors in and the price will rise further and this will draw more investors in and so on.  

The price will rise but to what extent? All investments in bitcoin dead. They do not stimulate the growth of production and therefore they may not provide the bitcoin real value. Bitcoin collects in the empty money that the government has released into circulation. What will happen then? If bitcoin is not going to stimulate the economy he is doomed.

[eann014]

First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day.  But is it really good for future of BTC?

As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this?  For example if they fix a price for a product for $400 equivalent to btc  then  tomorrow the price can be $600 or $200.   Will this sudden price rise/ drop not affect the market adoption?

What you guys think about this?

If there's a product that we need to buy in bitcoin price then we needs to think of the price of bitcoin and not on how much we converted it. Maybe if the product is .000001 btc then that will remain .000001 btc. I think we can do that but still hard to adopt by every business because we need a stable amount of bitcoin before we used it in every businesses. That is really the main reason why they hard to accept bitcoin as payment here in our country because of its unstable price.

[Dudeperfect]

I am a Bitcoin holder too and I had the same question when I saw that Bitcoin is breaking all-time high level every day. However, I am sure that this is not the organic growth and I believe that we are going to experience the correction in the price level within a month or two. The sudden rise in the price is nothing but panic buying and trader's practice to earn from the short-term opportunities. Don't worry about the sudden growth as it is not long lasting and we will see the organic growth soon after correction.

[audaciousbeing]

First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day.  But is it really good for future of BTC?

As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this?  For example if they fix a price for a product for $400 equivalent to btc  then  tomorrow the price can be $600 or $200.   Will this sudden price rise/ drop not affect the market adoption?

What you guys think about this?

In my honest opinion, even though there is nothing I can do about it because feelings, emotions or opinions does not matter in the determination of what the price of bitcoin will be. I don't think personally its a good idea because there is no basis to back it up.

During the buildup to the few days to the last fork, I had argued that the increase in price is based on the mentality of people wanting to get a larger portion of bitcoin gold which eventually happen but this is something incant explain. I wonder what the price will be saying to the buildup of SegWit fork with all the massive publicity and support it has garnered.

[bigmaster23]

is it not fast as we think BTC have gather impormation and lot of problem before it is now so the fact that we are surprise that is rise not on the rest of other cryptocurruncies

[bit-freedom]

I don’t think the price fluctuation will affect adoption at this point. The business can fix the product price to fiat and convert to BTC at point of sales. For example a $700 product will cost BTC 0.10 and tomorrow when BTC go to $8000, it will BTC 0.085 and so on.

[Hanablue]

Yes it is, and believe me it will keep going up and up now. I dont think its bad. All the hodlers will be very happy to see the price sky rocketing.

[iSkyCastle]

It's better if the increase in price happens in a consistent manner. You don't want to get onto a roller coaster ride as an investor.