Bitcoin Hype Has Barely Even Begun

[Acido213]

I believe that the hype has barely even begun. Only 1 percent of the global population owning any cryptocurrency and news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies; I think there will be a more mainstream adoption in the coming 18-24 months.

[mk4]

Bitcoin was overhyped last December-January. Lots of people on some countries knew about bitcoin because of lots of news putting up headlines on how bitcoin reached $15k-$20k. Will the same happen? Maybe, maybe not. But it's going to take real adoption for us to get that kind of hype again. The people who invested last December-January are now holding bitcoin that are worth less than half than it was when they bought them.

[Pursuer]

Bitcoin was overhyped last December-January. Lots of people on some countries knew about bitcoin because of lots of news putting up headlines on how bitcoin reached $15k-$20k.

lets not confuse "knowing" about bitcoin which is basically hearing its name or reading about it in the news, with "adoption". it is true that many people have already heard about bitcoin, maybe 70% or more of the population of the world have heard the word "bitcoin" already but to really know it and adopt it is a different thing.

about less than 1% of the whole world have adopted bitcoin and a lot of them have been traders.
we are far away from the real mass adoption where bitcoin is used by a decent percentage of the world instead of <1% and is used as a currency.

[mk4]

Bitcoin was overhyped last December-January. Lots of people on some countries knew about bitcoin because of lots of news putting up headlines on how bitcoin reached $15k-$20k.

lets not confuse "knowing" about bitcoin which is basically hearing its name or reading about it in the news, with "adoption". it is true that many people have already heard about bitcoin, maybe 70% or more of the population of the world have heard the word "bitcoin" already but to really know it and adopt it is a different thing.

about less than 1% of the whole world have adopted bitcoin and a lot of them have been traders.
we are far away from the real mass adoption where bitcoin is used by a decent percentage of the world instead of <1% and is used as a currency.

True. The thing is, probably a big percentage of that 70% know bitcoin only as an investment. Not as what it actually is and is for, unfortunately. Couldn't blame them though, most of the news are about bitcoin's price. That's why we need less hype and more technology(more idiot-friendly wallets, etc).

[Dmitry.Vastov]

I believe that the hype has barely even begun. Only 1 percent of the global population owning any cryptocurrency and news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies; I think there will be a more mainstream adoption in the coming 18-24 months.

I also agree that this is not the good time going for any crypto currency, all these crypto currencies are in controversy because of their very low valuation and people are now losing trust over crypto currencies and now hesitating in investing into these crypto currencies and the most critical time is for bitcoin, which has loosed so many investors and I think that it is media and the government who is continuously demotivating people from not to invest into bitcoin but I still feel that the situation of all the crypto currencies will improve.

[harrypot]

There many countries who are dealing with bitcoin and using it as payment method. The price is even increasing gradually. This time the price may exceed the highest.

[Dr.2x]

I think you are right. Still a very small portion of people are engaged into it. In the coming months the adoption will increase with the increasing price hopefully and we will see thw bitcoin hype too then.

[jseverson]

Hype has already come and gone -- for Bitcoin's use as an investment, at least. It has already become a household name last December, and I assume those who truly wanted to invest in it has already dipped their toes at that time. Every news outlet was talking about it and was churning out guides on how to invest. Based on the drop, I would assume most have already pulled out their money, too.

Hype on Bitcoin's utility as a currency hasn't come yet though, and at the rate things are going, it may take a while. It's a bit too niche as it currently stands and has a lot of issues it needs to overcome first. It's going to be worth the wait though, because this is what will drive true adoption.

I don't know about an 18-24 months timeline, but that would certainly be possible if institutional money comes in, which has been speculated on for a while now.

[BrewMaster]

news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies;

this has hardly anything to do with bitcoin and its hype though!
the banks and financial institutions are interested in the technology and want to use it for their own benefit which usually translates into them creating their own altcoin which will most probably be closed source and surely centralized.

as for their investment, no bank is ever going to invest in cryptocurrenices. they may end up adopting bitcoin because it is a currency and they are working with currencies. but that would be about it and it may not happen for at least another 10 years.

[dbravo]

The hype of bitcoin has increased significantly after the increase in its price. This has made a lot of new investors to invest in it without gaining knowledge on it. As a result they have faced losses when the prices of the coin dropped. Yet there are a lot of people left without the knowledge of crypto currency, with proper advertisement these people can be reached and the usage of bitcoin will increase.

[BitcoinNewbie15]

The hype of bitcoin has increased significantly after the increase in its price. This has made a lot of new investors to invest in it without gaining knowledge on it. As a result they have faced losses when the prices of the coin dropped. Yet there are a lot of people left without the knowledge of crypto currency, with proper advertisement these people can be reached and the usage of bitcoin will increase.

A lot of people that entered the market during the 2017 bull run did not expect the possibility that Bitcoin would drop. Many people bought in thinking that the price would just continue to rise. However, when this correction started they did not take it well. Many people that joined weren't professional investors and a lot of the time it was their first time investing in anything. So when the price started to drop they didn't know what to do and panic sold, thus deepening the correction. This dip in price is good because it weeds out the get rich quick people.

[sunlitit654]

Actually in market the conditions is not okay because of price based on this this types of hypes is really in need because people will like to invest based on increasing price so normally price will be increase which is really good for everyone.

[yohananaomi]

Yes you are right blockchain technology will rise more and more. But I don't think but only Bitcoin price will rise with that bbeacuwe typo many coins are coming which will affect dependence on Bitcoin. So the price of Bitcoin will rise but not too much.

as long as the altcoin is still growing the possibility for bitcoin will always rise as in exchange paasti will happen by itself, just waiting for time

[KevinRobertson]

many people knows about bitcoin there is no doubt that it gaining popularity but knowing it and understanding it this two are different thing that's why if the market is not hype then we can't blame them for the situation as much people will invest in here without these acitivity a sudden hype will barely begin

[Indamuck]

I believe that the hype has barely even begun. Only 1 percent of the global population owning any cryptocurrency and news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies; I think there will be a more mainstream adoption in the coming 18-24 months.

Agreed, total market cap is still extremely low.  Less than 300 billion? come on, Bezos, Gates, and Buffet are worth more than that.

The cool thing about Bitcoin is the large number of decimal places, so in the future we may be talking about satoshi units as we tlak today about dollars.

[samiraetn]

I agree with you. It's true that a lot of people have been hearing about Bitcoin, but none of them really knows what it is actually for and how adopting it feels like. However, little by little, the community is growing, and having my hopes upheld, I think more people will start using Bitcoin in near future.

[palle11]

The people who invested last December-January are now holding bitcoin that are worth less than half than it was when they bought them.

  Really got me amused. This is a fact and the reality of business. I don't wish to be trapped like that. My candid advise to them however is to keep holding (but , shaking my head) , it is not easy if you bought at $18,000-20,000 and you need price to tripple to get to the entry price at least. Not a good story though.

[tonyosa]

I believe that the hype has barely even begun. Only 1 percent of the global population owning any cryptocurrency and news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies; I think there will be a more mainstream adoption in the coming 18-24 months.

There is so much more that need to happen before bitcoin gains more adoption. The fear that bitcoin is a scam or is used by criminals need to change and the many legislations by some countries against bitcoin need to be relaxed.

[HertzCoin]

The people who invested last December-January are now holding bitcoin that are worth less than half than it was when they bought them.

  Really got me amused. This is a fact and the reality of business. I don't wish to be trapped like that. My candid advise to them however is to keep holding (but , shaking my head) , it is not easy if you bought at $18,000-20,000 and you need price to tripple to get to the entry price at least. Not a good story though.

The first time I invested in crypto, the hold market fell by over 50%, but I didn't worry because I was prepared for turbulence and it paid off. Even with current down trend in the market my balance is still positive from that moment and of course I am going to hold for as long as possible.

[domasal]

If you remember the massive bull run last year you will see that it was everywhere, even on the Ellen show she kept mentioning bitcoin. When it happens again it will be all over the place.