Peak get lower and lower, and dips get worse

[freightjoe]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

[Vineeta2oct]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Maybe you're right but what if Bitcoin ETF gets approved? There will be new money in the market, demand of Bitcoin will increase and so will the price.

[koincik]

Bitcoin's situation will not be positive in the short term. If the year-end targets are high, the situation is not so

[freightjoe]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Maybe you're right but what if Bitcoin ETF gets approved? There will be new money in the market, demand of Bitcoin will increase and so will the price.

No. Everyone who ever wanted to own Bitcoin basically jumped in when we saw the ATH of 20.000$ thinking they could get rich quick. There are no new possible investors out there. And as more and more Bitcoin owners begin to realize that we will never get back to the bubble-high of 20.000$ they are slowly leaving. Bitcoin-believers then "buy the dip" as these people slowly exit, causing the price to go up - but these peaks are getting lower and lower because there are fewer and fewer people involved.

[freightjoe]

Bitcoin's situation will not be positive in the short term.

Correct. But it is also not positive long term

[bob123]

And as more and more Bitcoin owners begin to realize that we will never get back to the bubble-high of 20.000$

That is a pretty hefty statement to make.
20k was the peak of a bubble, the price increased extremely fast. A correction had to follow.

But this does not mean that bitcoin won't reach this price again. Especially if you look at the adoption rate and the development ongoing.
The development alone is improving the protocol + usage, which increases the value of BTC as a currency.

While it is foreseeable that BTC won't reach 20k this year (and maybe also not the next few years), i am confident we will see new highs.
Especially when the whole ecosystem around btc starts to influence the daily life with comfortable, faster, secured payments with low fees. Basically when adoption kicks in.

[allthebitandbobs]

I like the graph .Over all were in a bear market since febuary .We should start to see a increase in the price come September with the etf speculation.  

[freightjoe]

And as more and more Bitcoin owners begin to realize that we will never get back to the bubble-high of 20.000$

That is a pretty hefty statement to make.
20k was the peak of a bubble, the price increased extremely fast. A correction had to follow.

But this does not mean that bitcoin won't reach this price again. Especially if you look at the adoption rate and the development ongoing.
The development alone is improving the protocol + usage, which increases the value of BTC as a currency.

While it is foreseeable that BTC won't reach 20k this year (and maybe also not the next few years), i am confident we will see new highs.
Especially when the whole ecosystem around btc starts to influence the daily life with comfortable, faster, secured payments with low fees. Basically when adoption kicks in.

There is no adoption at all. New wallets are only being created by existing users - adoption is actually negative in terms of real users

[pickledmuffin]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Swings and Roundabouts. The big ATH had to come crashing down, it probably has more to go. But Bitcoin is still the backbone, and only real coin that the man on the street knows about. For me, this is enough.

[mr.bean865]

Yes I remember that time when I saw bitcoin cash in is dip and I converted most of my money in bitcoin and bitcoin cash but I didn't know that time that they will further go into dip and till now I have lost many many many dollars. Condition is getting worse day by day

[avikz]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Maybe you're right but what if Bitcoin ETF gets approved? There will be new money in the market, demand of Bitcoin will increase and so will the price.

I don't know why people are expecting high from the bitcoin ETF to get approved. No one understand that if a regulated entity become a whale by buying huge amounts of bitcoin, it will be easier for the government to control the price of the bitcoin leaving small investors like us in shambles. That is not desired at all. Physically settled bitcoin ETF will show a positive impact on the market at first because of the fresh funds but we will loose the control eventually!

Don't expect to get it approved till September end. Don't run high on the ETF news. It will harm us in longer term and price manipulation will become more evident!

[o_e_l_e_o]

Ahh, I was wondering when freightjoe would show up again. Not seen him in a while.

He is a serial FUDster. Just look at his posting history - inactive for months at a time, then shows up and spams 50+ FUD posts in a day, then disappears again for months. I can only assume that he has lost a lot of money trying to short Bitcoin, so shows up periodically in a poor attempt to try to regain some losses. He just reuses the same old tired, recycled, posts.

You can safely ignore everything he says.

[bob123]

There is no adoption at all. New wallets are only being created by existing users - adoption is actually negative in terms of real users

Do you have any source or any statistic which backs your claim ?

I don't know what you are thinking about when reading the word adoption. But this is a slow process.
More and more merchants are starting to accept bitcoin. The number of BTC user in countries with a broken financial system is rising too.

If you look at the number of open channels on the lightning network you will see that there is a big community which already starts to use the LN on the mainnet even though it is still in beta.
Once the LN is ready and running, there won't be any factors holding mass adoption back anymore.

[bungutko]

Though that is reality but I still have high hopes for btc market and I think $6.2K could be the least market price value for this year. I believe that in the coming months, btc will be back on track and definitely will start to climb slowly. Hoping that the uptrend in the coming months will go on smoothly since we had not yet experience a longer bull market within this year.

[chocolaty]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Notice how the trend goes from pump to dump every month. Personally, I still believe in bitcoin. It's just that we should expect that it will not be the way we want it to be all the time. The pump happens so that we can sell and dump occurs to buy more. It will not please us always. It is volatile and it is naturally fluctuating.

[woolm110]

Bitcoin massively surpassed all our expectations when it hit $20k, maybe its now finding its true value? I believe it has potential but it's a long game that we'll need to play if we're in it for investment gains (which let's face most of us are!). I still think long term it'll rise it just needs to battle this uncertainty we have at the minute, it's so volatile. Imagine if the ETF got approved, then it'd rocket!

[dothebeats]

Where have you been when we're being bombarded by sell orders and reached the recent bottom of $5700? Basically, it's just the same thing going on for months now. Also, we have never reached $20000 in most markets, only Korean exchanges reached that certain price point. While your point stays true, it is incorrect to assume that the next trends would be the same, knowing that the rise to the most recent ATH was nothing but FOMO and pure speculative hype and the events we are witnessing now are the effect of weak fundamentals coming into play. Most people right now are banking on the ETFs, though I for one would like to stay away from that thinking knowing that ETFs are, after all, a separate entity from the actual bitcoin market.

[davis196]

This is not slow death.This is just a normal situation for the bitcoin market.
10% of the traders actively trading btc while 90% of the other people who own bitcoin are just HODLers.
They are just waiting for some new money to come into the market and create a bubble.
The army of first time bitcoin buyers just isn't coming,because there's no event that will create FOMO.

[tegarp90]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

Just like the satement of bitmex CEO, bitcoin is not reach it's lowest this year.
It will go like 5k, before it go moon and reach new high

[Lucius]

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - 7 Apr: 6.600$

Peak - 5 May: 9.800$

Dip - 28 Jun: 5.800$

Peak - 24 Jul: 8.400$

Now we are at 6.200 going down to the next even deeper dip you are here with some

This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral

As always when the price goes down you come to the forum with your FUD. It seems that history of BTC for you start in December 2017, why you not start with 2009 and make some positive facts from that time until today?

I do not want to repeat what others have already written, but "long and slow death" and "nobody wants to use it" is really classic ignorance about how BTC works. I know it is not easy for you, you invest when price was 15k $ or more probably - but at least be a little more original and not just copy-paste whole thread from April...

Peak - 16 Dec: 20.000$

Dip - 30 Dec: 12.600$

Peak - 6 Jan: 17.100$

Dip - 5 Feb: 6.900$

Peak - 4 Mar: 11.500$

Dip - start April, we are at 6.700$ and still declining.....



HODL together with "buy the dip"  is the worst strategy - guaranteed to destroy you money.

If you feel lucky, try buying the dip and make absolutely sure you sell at the peak - but then you might as well also be playing at the casino.....

https://bitcointalk.org/index.php?topic=3234315.msg33673894#msg33673894