What happened to this 'easy 10k'?

[gabmen]

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.

I don't think a lot of people blabbering about how btc will easily get to 10k really know what they're talking about though. And i agree, not many of those saying that it's a good time to buy are actually doing that. All words. And then they keep mum when they're predictions end up wrong.

[Wind_FURY]

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.

Monero I can accept that it can also be a store of value, and can be the same as Bitcoin in becoming a medium of exchange, and a unit of account. But Namecoin is "dead" in my opinion.

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.

I believe you are trapped in the idea that Bitcoin is an "old" technology. But it is not. It has the most advanced research and development in a cryptocurrency in terms of security, stability, and scalability.

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.)

It was politics that made Gavin change. Bitcoin is developing well without him.

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.

Hahaha. No comment.

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.

Ok.

[Thanasis]

The price of bitcoin strongly stick at the range of $6000 to $6500 for almost couple of weeks other than there was a few day bump to $8500 due to ETF speculations but now the market looks constant with accepted price swings everyday so for now this is organic growth of bitcoin so let that to recover on it own.

[buwaytress]

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.

Monero I can accept that it can also be a store of value, and can be the same as Bitcoin in becoming a medium of exchange, and a unit of account. But Namecoin is "dead" in my opinion.

Of course every decentralised altcoin can achieve the same status - and I would definitely agree that the likes of Monero have to some extent achieved this, but for the time being, in a very niche section of crypto users. In fact, Bitcoin users themselves I consider are still being a very niche section of money users, when you remove all those Bitcoin holders or investors who either never truly controlled private keys nor ever made a transaction that wasn't for speculative trading.

I'd like to use analogies of paper money. There's plenty of new technologies used in, for example, Bruneian and Singaporean dollars. They're among the first to pioneer new paper tech, new fabrics, holographic security, threaded security, etc. And sure, they've achieved their own status of being hard money, but will never get the network effect of USD or euro.

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.

If Bitcoin "crashes" to $1000 it would still be more than 9 times the value of what it was when I first encountered it, and more than twice what it was when I first opened my wallet.

If people lose confidence in Bitcoin, they would have lost confidence in the entire cryptocurrency idea. If there's any coin that's advocated for and preserved cryptocurrency, it's Bitcoin. They're mentioned in the same breath.

[bitbunnny]

I don't agree at all that reaching 10000$ price is easy.
For a longer period of time Bitcoin sticks about 6000$ and current conditions on the market and investor behaviour are not showing that Bitcoin price might rise so high so easily.
To my opinion Bitcoin will stay "stuck" like this for some period of time and some biger movements we might expect towards the end of the year.

[1Referee]

If people lose confidence in Bitcoin, they would have lost confidence in the entire cryptocurrency idea. If there's any coin that's advocated for and preserved cryptocurrency, it's Bitcoin. They're mentioned in the same breath.

Yup. People still don't understand that the only reason altcoins have their current value, is because Bitcoin largely donated it to them. If you take away Bitcoin, the altcoin market will lose 90% of its value in an instant. Bitcoin is the backbone of crypto in its entirety and the main benchmark of how healthy this industry really is.

The strength of this industry is Bitcoin's supremacy, and the fact that it doesn't follow the basic laws of technology in the way that better tech replaces older tech.

It's going to be very interesting in the coming years to see whether or not Ethereum has reached the same level of supremacy amongst the competitors in its own field. I personally think we can definitely see EOS make a move towards Ethereum in the coming year or two.

[boakyei]

That's fine, it really happens in crypto and it's not actually surprising. Not all we are expecting were going to happen especially crypto is really unpredictable. That's what they say expect the unexpected. Maybe we didn't get it in the last rise, we still have some other time and for sure were going to reached it soon.

Thats the pro idea of investing. Nothing is surprise because the easy 10,000 price which was predicted even as the price hit 8000 were forecast and if it didn't hit that it doesn't means it won't ever get to that price.

[the1arty]

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.

Noone promised here easy money, that is all hard earned money or huge risks been taken. Well, surely there is a luck presence for sure, but I would prefer fundamental analysis.
You got 2 ways, to trade or just buy and hodl, decide which works best for you.

[Wind_FURY]

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.

Monero I can accept that it can also be a store of value, and can be the same as Bitcoin in becoming a medium of exchange, and a unit of account. But Namecoin is "dead" in my opinion.

Of course every decentralised altcoin can achieve the same status - and I would definitely agree that the likes of Monero have to some extent achieved this, but for the time being, in a very niche section of crypto users. In fact, Bitcoin users themselves I consider are still being a very niche section of money users, when you remove all those Bitcoin holders or investors who either never truly controlled private keys nor ever made a transaction that wasn't for speculative trading.

I'd like to use analogies of paper money. There's plenty of new technologies used in, for example, Bruneian and Singaporean dollars. They're among the first to pioneer new paper tech, new fabrics, holographic security, threaded security, etc. And sure, they've achieved their own status of being hard money, but will never get the network effect of USD or euro.

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.

If Bitcoin "crashes" to $1000 it would still be more than 9 times the value of what it was when I first encountered it, and more than twice what it was when I first opened my wallet.

If people lose confidence in Bitcoin, they would have lost confidence in the entire cryptocurrency idea. If there's any coin that's advocated for and preserved cryptocurrency, it's Bitcoin. They're mentioned in the same breath.

Plus I do not know why some altcoiners believe Bitcoin's death will take their altcoins to the position of the "greatest cryptocurrency". I believe Bitcoin's death will also take the whole altcoin market down to their own deaths.

[ngacengan]

maybe a few weeks ago the price of bitcoin could reach a price of $ 10k and it was very easy because there was good news that made investors buy a lot of coins with a lot so it made the price of bitcoin expensive quickly.

[Temujhin]

Many people are too ambitious with the news unclear about the truth, we see that the reality is that reaching $ 8,000 is very difficult, moreover, $ 10k is not very easy to reach the end of this year, and the price is now stuck in silence at $ 6500 whether this will last until ahead, I still think for that

[checkmatesir]

Yes, I also thought about it, by going through the correct positive news the 10k price was easy to achieve by bitcoin.
what we need is just a good moment to race without limits like last year.

The previous bullish market was because of some very good news about the bitcoin. For example at that time Japan was the very first country who accept  bitcoin as legal currency. At that time people were too much confident that the bitcoin price is going to reach to 100k and therefore they continued buying bitcoin even above 19k.

[DeadCoin]

We can expect this 10k by the end of this year. Fromnthis year started itself there is no significant growth in the bitcoin value. But now the price started to rise, people are expecting this growth only. If it continious means easily it will touch the 10k by the end of this year.  You have to do two things only one is trade and another one is hołd. Just hold the bitcoin with patience.

[KalaiBTC]

We can expect this 10k by the end of this year. Fromnthis year started itself there is no significant growth in the bitcoin value. But now the price started to rise, people are expecting this growth only. If it continious means easily it will touch the 10k by the end of this year.  You have to do two things only one is trade and another one is hołd. Just hold the bitcoin with patience.

Value of Bitcoin is currently 7340 US dollar and we do not have to think about further increase in price but should start to buy more in numbers if you have more savings then go for it right na na. I also want to reach at the bull market right now but that is not possible as situations are not different as it were few months ago. All we need is to wait and have patience in this market so that we will get success at the end.

[d5000]

I believe you are trapped in the idea that Bitcoin is an "old" technology. But it is not. It has the most advanced research and development in a cryptocurrency in terms of security, stability, and scalability.

No. Currently I see Bitcoin still on the forefront. It's not "old" in any way, because most "new altcoin features" are not really relevant, and Bitcoin continues to improve steadily. I only question the conviction that this cannot change at some point.

I'd like to use analogies of paper money. There's plenty of new technologies used in, for example, Bruneian and Singaporean dollars. They're among the first to pioneer new paper tech, new fabrics, holographic security, threaded security, etc. And sure, they've achieved their own status of being hard money, but will never get the network effect of USD or euro.

But that's imo only because, in the fiat world, only currencies of big countries with several millions or billions of inhabitants and active trade with the rest of the world can achieve a "world currency" status, because they depend on usage (by individuals and companies) in their "home" country. In the crypto world, no currency has this limitation.

If we stay with the Monero example, it may be a niche today, but it's not limited to it, it could grow (almost) in an unlimited way regarding adoption, as it's also a "global" currency. For example, if extreme privacy achieved a higher valuation for people (e.g. if more countries become authoritarian), then the Monero way could be more attractive that the Bitcoin way. However, for now I don't see that happen.

If people lose confidence in Bitcoin, they would have lost confidence in the entire cryptocurrency idea. If there's any coin that's advocated for and preserved cryptocurrency, it's Bitcoin. They're mentioned in the same breath.

Again: For now, I agree. But we can't predict the future.

On topic: Well, we'll have to wait a bit, I think.

[Hobo66]

Easy 10k could happen immediately in couple days, because it is unpredictable, no one really know how the price will move. All we really could know that in a healthy market  prices always fluctuate, prices could go straigt up and then straight down. So everything is good with currently price of Bitcoin, need to wait more and see what will happen

There is no doubt that bitcoin is still the number one crypto currency of the world and will even continue as number one for a long time. I do not think that there is any other altcoin which can overcome bitcoin and make become as number one crypto currency. Bitcoin is in fact becoming more stronger from as time pass.

[kudus11]

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.

Well, it has become a very common thing with that, which we need to worry about if there is no new price, it's a very bad thing for all of us.

[Claudyah]

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.

Yes, that is normal in the market because fluctuations keep going, the problem of predictions for an increase can reach $ 10k, it's hard to guess for the truth, and the results of the decline occur, and I think this will continue for a long time.
The point is to remain patient and wait, because the increase will definitely occur if the time has arrived

[rainezerr]

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.

The price of cryptocurrency can actually grow up to $10k dollars and that what they are referring fro easy $10k so keep on investing today while the price is still low.

[exstasie]

I believe you are trapped in the idea that Bitcoin is an "old" technology. But it is not. It has the most advanced research and development in a cryptocurrency in terms of security, stability, and scalability.

No. Currently I see Bitcoin still on the forefront. It's not "old" in any way, because most "new altcoin features" are not really relevant, and Bitcoin continues to improve steadily. I only question the conviction that this cannot change at some point.

Well said. I still believe Bitcoin is the most viable of all cryptocurrencies, with the most robust network and probably the best developers in the world. But I disagree with Bitcoin maximalists who simply assume it will always be this way. The first mover advantage is only an advantage; it's not a guarantee of anything.

The only backing cryptocurrencies have is the faith of their users, and no one can predict the future in that sense. We can point to Bitcoin's superior security and scalability models all we want, but the market may choose something else.