What happened to this 'easy 10k'?

[Wind_FURY]

Am I the only one who would be very very happy if the "Hyperwave" guy was right, that Bitcoin will crash to $1000? Haha.

It would surely make a nice Christmas present if we could buy that low again.

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[d5000]

Am I the only one who would be very very happy if the "Hyperwave" guy was right, that Bitcoin will crash to $1000? Haha.

It would surely make a nice Christmas present if we could buy that low again.

But are you sure your investment will reach a new ATH after such a massive crash?

My problem with $1000 is that this would mean a 95% devaluation from the ATH. That would be the most massive crash/bear market in Bitcoin's history: even the 2011 post-bubble bear market only reached 92% or so ($30 to $2). The 2013-15 bear market only devalued BTC by 87% approximately ($1160 to $135).

In theory, with more adoption a decrease in volatility could be expected. If volatility now rose again, then this could be a long-term trend change. I guess that would only happen if there are massive problems with Bitcoin's value proposition.

There's absolutely no guarantee that we'll see new all time highs, and there will be no "magical way" to be rich. I continue to sustain the hypothesis that we, as the community, can make Bitcoin big, _using_ it, but it won't be big on its own "only because it's Bitcoin".

[Wind_FURY]

Am I the only one who would be very very happy if the "Hyperwave" guy was right, that Bitcoin will crash to $1000? Haha.

It would surely make a nice Christmas present if we could buy that low again.

But are you sure your investment will reach a new ATH after such a massive crash?

I am very confident it will reach a new all time high of a minimum of 6 digits.

My problem with $1000 is that this would mean a 95% devaluation from the ATH. That would be the most massive crash/bear market in Bitcoin's history: even the 2011 post-bubble bear market only reached 92% or so ($30 to $2). The 2013-15 bear market only devalued BTC by 87% approximately ($1160 to $135).

But think what Bitcoin is. It is still the biggest break-through in money and finance that we have seen. It is not a consumer product for payments. Bitcoin is hard money. If you believe it has no future because "crash", then no one can convince someone who is looking at the finger pointing to the moon, while missing all the heavenly glory.

In theory, with more adoption a decrease in volatility could be expected. If volatility now rose again, then this could be a long-term trend change. I guess that would only happen if there are massive problems with Bitcoin's value proposition.

There's absolutely no guarantee that we'll see new all time highs, and there will be no "magical way" to be rich. I continue to sustain the hypothesis that we, as the community, can make Bitcoin big, _using_ it, but it won't be big on its own "only because it's Bitcoin".

Then you can sell if you want. I am buying the dips.

[loverets45]

it seems that the price will be very difficult to increase the price of bitcoin, the price of bitcoin can again increase prices when there is good news that can trigger investors to buy bitcoin.

We are hopeful that it will happen in future, but currently the postponement of ETF made some doubt and therefore still most of the investors are still not feeling confident to invest their money in bitcoin. I

[Slow death]

see that 10 days have passed and the price has not reached the $ 10,000 and to be more accurate has a long time that we do not see this price of $ 10,000, unfortunately we have many analysts who are making very optimistic forecasts and these predictions never come true ,
they only create expectations in people and after a while people disappoint. I do not even believe these predictions. In my opinion the price will increase when we have more demand and we should not be too optimistic.

Yeah, right. We should just hope for the best but then be prepared for the worst as well. Just think of the possibility that the price would go down again below $5k. Are you ready for it? Do you plan to buy more when this price would be reach or you would sell all your coins and then leave cryptocurrency world for good? We should just have a plan so that we will now panic sell when that time comes. $10k is still reachable and 2017 surprise us but will it happen again this year? We should be ready always for what is yet to come.

Just use the strategy of buying whenever prices fall and hold for many years, this is the only possible choice where people avoid buying and selling with losses. But to implement this strategy people should not make loans to buy bitcoin, people should not use money they know they will need in the short term to buy bitcoin. In short, for those who have extra money, this market can be very profitable and one does not need to be panic every time the price falls. The biggest obstacle that is preventing crypto from increasing prices are very exaggerated and very rigorous regulations. see an example:

Japan’s Financial Regulator Wants Crypto Industry to ‘Grow Under Appropriate Regulation’

“We have no intention to curb [the crypto industry] excessively. We would like to see it grow under appropriate regulation.”

 this " appropriate regulation " is very dangerous

[Wind_FURY]

If Japan plans to "curb" it, Bitcoin's use will still continue to grow and pass through their internet lines without being the end-point. That would be a disadvantage as it would mean less taxes to collect because of less merchant adoption.

[Pursuer]

Japan’s Financial Regulator Wants Crypto Industry to ‘Grow Under Appropriate Regulation’

“We have no intention to curb [the crypto industry] excessively. We would like to see it grow under appropriate regulation.”

 this " appropriate regulation " is very dangerous

so far Japanese government laws about bitcoin has not been "dangerous" and I don't see why this has to change. although there is always a chance when it comes to government regulating things!
I believe t his is yet another bad consequence of ICOs and their long history of scams and free money from thin air situation that is forcing the government's hands to regulate cryptocurrencies excessively...

[d5000]

But think what Bitcoin is. It is still the biggest break-through in money and finance that we have seen. It is not a consumer product for payments. Bitcoin is hard money. If you believe it has no future because "crash", then no one can convince someone who is looking at the finger pointing to the moon, while missing all the heavenly glory.

Satoshi's Bitcoin code is the breakthrough, not the Bitcoin token. The Bitcoin token's price depends on the market situation and above all, the complete ecosystem of users, merchants, developers etc. surrounding it (you can also call it "network effect").

A crash to $1000 would, in the current situation, very likely mean that the confidence in the ecosystem is broken.

For such a heavy crash to happen, I guess these things could be possible reasons:
- It becomes obvious that Bitcoin will never be used as a currency and so it is basically an useless asset.
- An alternative implementation of Satoshis code ("altcoin") is valued as superior than the current Bitcoin token by the markets ("Flippening")
- An invention that is valued even better than Satoshi's code and competes with it
- External effects, like very strict regulations.
- Technical limitations without solution (e.g. "LN does not work as expected")

I don't want that to happen, but it's not impossible.

Then you can sell if you want. I am buying the dips.

I think you misunderstand. I'm (long-term) bullish on Bitcoin, but not unconditionally - its ecosystem/usage/network must become stronger.

[nydiacaskey01]

At current price of Bitcoin of $6,400 USD, breaking to $10,000 USD is very much possible.One reason is $6,400 USD to $10,000 USD is just 50% increase and we have seen this much growth from the past. Just wait till the Chinese Ghost month is over and you'll see the price of Bitcoin to slowly recover and go back to 5 digits.

[STT]

Is China still the decider for Bitcoin, I thought they were not as involved as previously and it was places like South Korea and Japan maybe taking up the mantle of integration and usage.

- It becomes obvious that Bitcoin will never be used as a currency and so it is basically an useless asset.

well we need not fear that because Bitcoin is already used as money.  Even the biggest bears on the crypto currency standard will acknowledge Bitcoin as money alongside many other historical but unlikely tokens such as feathers and beads.
On the other hand how well it transmits and holds value is under strong debate still.

BTC is evolving thats the biggest deal not really mentioned.   We can speculate on how BTC will do but as it is subject to change and improvement even, nobody really knows for sure how well it will fair in future.    Unfortunately BTC is still subject to much speculation when I would really like to see actual trade rising and so supporting the development long term

[Wind_FURY]

But think what Bitcoin is. It is still the biggest break-through in money and finance that we have seen. It is not a consumer product for payments. Bitcoin is hard money. If you believe it has no future because "crash", then no one can convince someone who is looking at the finger pointing to the moon, while missing all the heavenly glory.

Satoshi's Bitcoin code is the breakthrough, not the Bitcoin token. The Bitcoin token's price depends on the market situation and above all, the complete ecosystem of users, merchants, developers etc. surrounding it (you can also call it "network effect").

I never said the token was the breakthrough. I refer to the Bitcoin as a whole that what's makes the token valuable and what makes it "hard money". The "tokens" are a means to incentivize the miners and a way to distribute the money supply in the system. It is a stroke of genius.

Plus the code was not the breakthrough, it was the putting together of the different available technologies to make something else.

A crash to $1000 would, in the current situation, very likely mean that the confidence in the ecosystem is broken.

For such a heavy crash to happen, I guess these things could be possible reasons:
- It becomes obvious that Bitcoin will never be used as a currency and so it is basically an useless asset.
- An alternative implementation of Satoshis code ("altcoin") is valued as superior than the current Bitcoin token by the markets ("Flippening")
- An invention that is valued even better than Satoshi's code and competes with it
- External effects, like very strict regulations.
- Technical limitations without solution (e.g. "LN does not work as expected")

I don't want that to happen, but it's not impossible.

Bitcoin has the smartest developers working on it. If there was a loss of confidence in it, then those dumping to hold fiat or worse, an altcoin, would be missing one of the greatest inventions in history. Bitcoin's invention is the same as the invention of the airplane, the telephone, the internet.

Then you can sell if you want. I am buying the dips.

I think you misunderstand. I'm (long-term) bullish on Bitcoin, but not unconditionally - its ecosystem/usage/network must become stronger.

Do you believe that we as humans are still evolving? I do, and a censorship resistant, hard money is part of our social evolution.

[websoftwareengineer]

it seems that the price will be very difficult to increase the price of bitcoin, the price of bitcoin can again increase prices when there is good news that can trigger investors to buy bitcoin.

The price is not difficult to increase, People can always invest a huge amount which will make the price of cryptocurrencies in the market to pump up again but they are just waiting for the market to dump even more before hoarding more coins.

[Stolivie]

Bitcoin is really easy to become 10k dollars even in 1 week only we can reach that. The reason why the price is still dumping because of the panic seller. I hope those panic seller will stop panicking and become relax now to pump again the market.

People were in fact waiting for the ETF to approved but unfortunately the delay in ETF decision made people disappointed and that is the reason that still the bitcoin price is trading under 7000$ which is still a very low price for bitcoin, I am hopeful that bitcoin investors will get their confident and will start to do investment in bitcoin.

[bittraffic]

What happened is that $10K break isn't so easy after all. There ain't just someone who can easily predict where the market is going specially this crypto market because its unregulated, its the risk you should know right when you joined the community to invest. Some of the people here in the crypto just had so much money that they can survive when the market keeps the bear trend for more than 2 years.

[LordShanken]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

But most of those speculations were told that this situation will happen in this year, we have 4 months more to see price like that so be a little bit more patient cause that situation still could come.

[begau]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

But most of those speculations were told that this situation will happen in this year, we have 4 months more to see price like that so be a little bit more patient cause that situation still could come.

I think not all are confident, many are not confident but they want to dream about the future. There are a lot of comments about the price of bitcoin which is very cheap but not many people are really buying.

[Aikidoka]

Those people, who were confident, were cheering for bitcoin in its ups, and complaining when it has fallen. Do not trust those people. But either way, is it not quite good? Bitcoin is a long-term investment. You do not wake in the morning to find yourself rich or with a good profit. It might take you many mornings to wake up and see that the price increased. All of you need to be patient. This is a good way to learn what patience really is!

[d5000]

Satoshi's Bitcoin code is the breakthrough, not the Bitcoin token. The Bitcoin token's price depends on the market situation and above all, the complete ecosystem of users, merchants, developers etc. surrounding it (you can also call it "network effect").

I never said the token was the breakthrough. I refer to the Bitcoin as a whole that what's makes the token valuable and what makes it "hard money".

Yep, here we agree - but the "hard money" status can be lost. Every decentralized altcoin (there are not many, but some, like Monero or Namecoin) could achieve the same status.

A crash to $1000 would, in the current situation, very likely mean that the confidence in the ecosystem is broken.

Bitcoin has the smartest developers working on it. If there was a loss of confidence in it, then those dumping to hold fiat or worse, an altcoin, would be missing one of the greatest inventions in history. Bitcoin's invention is the same as the invention of the airplane, the telephone, the internet.

The question is: Are we still using airplanes of the Wright brothers? Cars of Nicholas Cugnot? An altcoin based on Bitcoin's principles is also "Bitcoin" in the same sense than a Boeing is an airplane. It's the same invention. It's only another token (i.e. we are making rich another people, not the original inventors). I even dispute that Bitcoin should make rich someone. It should be successful as a currency, not as a get-rich scheme.

Ecosystems can change. It could even happen that the current Bitcoin devs change to another token ecosystem - just like Gavin did when he changed to BCH. (Again: I wouldn't like that.)

Do you believe that we as humans are still evolving? I do, and a censorship resistant, hard money is part of our social evolution.

Agree here. I would also like Bitcoin - or at least, an equally decentralized cryptocurrency - conserve the leadership ahead of semi-centralized, "semi-censorship-resistant" projects like EOS.

But the point is another one: I would simply not be happy with a crash to $1000. I would be still happy with a crash to $3000 or $2500, because that would mean no major disruption, we already had that. A 95% crash, however, is a bit deep, and I don't believe that it would only happen because of panic and FUD.

[exstasie]

Bitcoin has the smartest developers working on it. If there was a loss of confidence in it, then those dumping to hold fiat or worse, an altcoin, would be missing one of the greatest inventions in history. Bitcoin's invention is the same as the invention of the airplane, the telephone, the internet.

I agree, but the future is not set in stone. The prospects are quite good, but there are many unknowns, and markets are not necessarily logical.

There could be existential vulnerabilities or protocol failures, for example. There are also cases where a superior technology was beaten by an inferior one and abandoned (Betamax vs. VHS comes to mind). Other technologies may emerge that cast doubt on the viability or worthiness of Bitcoin. After all, this all boils down to faith. If users generally lose faith (for whatever reason), it's all over. We can't rule that out.

[valentinen39]

Those people, who were confident, were cheering for bitcoin in its ups, and complaining when it has fallen. Do not trust those people. But either way, is it not quite good? Bitcoin is a long-term investment. You do not wake in the morning to find yourself rich or with a good profit. It might take you many mornings to wake up and see that the price increased. All of you need to be patient. This is a good way to learn what patience really is!

In my own opinion, those people are not confident but they are just investing on an asset that is really valuable, bitcoins is the best investment that you can make today because the market prices are increasing.