What's killing bitcoin right now is that the demand is not real (we need Japan.)

[reactorjuno]

Hi,

Now it is crystal clear that last year rise was purely caused by manipulation (= FAKE DEMAND)

For all those hoping that bitcoin will become mainstream, then those times are not for today, sadly.

My humble opinion is that bitcoin could get adopted by the mass but only in the very long term (circa 10 years), in countries such as Japan. So this will take a WHILE, and of course any government decision can harm bitcoin. Japan is friendly towards bitcoin, lets hope it remains as such in the future.

[1714107265]

1714107265

[Probattek]

The last years rise was caused buy the massive increase of popularity of cryptocurrencies that was caused by extreme price pumps. It's a closed circle.

[mk4]

How are you THAT sure that it was because of manipulation alone? And not because of the huge hype surrounding bitcoin because the price was rising too fast?

Also, not because the price is down right now it doesn't mean that we're not progressing in terms of adoption. We are definitely still moving forward regardless of price.

[reactorjuno]

How are you THAT sure that it was because of manipulation alone? And not because of the huge hype surrounding bitcoin because the price was rising too fast?

Also, not because the price is down right now it doesn't mean that we're not progressing in terms of adoption. We are definitely still moving forward regardless of price.

Because it's obvious a price cannot get multiply by 20 in twelve months without manipulation.
I read somewhere that 40% of bitcoin market was in the hands of 1,000 people. that's all you need to know.

[mk4]

How are you THAT sure that it was because of manipulation alone? And not because of the huge hype surrounding bitcoin because the price was rising too fast?

Also, not because the price is down right now it doesn't mean that we're not progressing in terms of adoption. We are definitely still moving forward regardless of price.

Because it's obvious a price cannot get multiply by 20 in twelve months without manipulation.
I read somewhere that 40% of bitcoin market was in the hands of 1,000 people. that's all you need to know.

I definitely wouldn't rule out manipulation as one of the reasons of the price rise, but it's definitely not solely because of that. People we're legitimately interested in buying bitcoin late last year, and there's data to back that up.

 

Sources:

• https://trends.google.com/trends/explore?q=buy%20bitcoin
• https://www.alexa.com/siteinfo/coinbase.com

[BrewMaster]

How are you THAT sure that it was because of manipulation alone? And not because of the huge hype surrounding bitcoin because the price was rising too fast?

Also, not because the price is down right now it doesn't mean that we're not progressing in terms of adoption. We are definitely still moving forward regardless of price.

Because it's obvious a price cannot get multiply by 20 in twelve months without manipulation.
I read somewhere that 40% of bitcoin market was in the hands of 1,000 people. that's all you need to know.

why not? who decides how much rise is fake and how much is not? and why does he not decide that rising 6.6x (current price) is also a manipulation? you say 20 times is manipulation, i say 2 times is manipulation if we are throwing random numbers.
i am with mjglqw on this. and also i'd say the 70% drop is manipulation. you see it works both ways.

as for your 40% comment, that has never been proven. people love to look at some bitcoin addresses that have large balances and then start theory crafting. the bitcoin market is small and is affected by manipulation but things aren't that bad as you think they are.

[Dadaro]

I think that price rise up last year was not solely because of manipulation. I think that it was also affected by some bandwagon folks.

[ecnalubma]

Hi,

Now it is crystal clear that last year rise was purely caused by manipulation (= FAKE DEMAND)

For all those hoping that bitcoin will become mainstream, then those times are not for today, sadly.

My humble opinion is that bitcoin could get adopted by the mass but only in the very long term (circa 10 years), in countries such as Japan. So this will take a WHILE, and of course any government decision can harm bitcoin. Japan is friendly towards bitcoin, lets hope it remains as such in the future.

I partially agree that last years rise was due to price manipulation but maybe some are real demands, that's why it caught regulators attention. But this years rise will be real since more institutional investors will start accumulating.

[eipeng]

All we need is someone who can influence people that bitcoin is a technology that they can use and evryday life, someone who can persuade other country's to try or hear what convenience bitcoin can give.

[zolfa]

not fake demand, but the real demand of the public who do not get a response from both the government and the world, so they choose to reject bitcoin. the reality is that demand is always increasing every day.

I agree with you that Japan has good potential to regulate bitcoin, but I see other countries can also like Japan. they must eliminate selfishness.

[coinwizard_]

Demand is not caused by fake buyers, it is new investors that are unfamiliar with the way crypto markets work. It's not a smooth line going up, more like a jagged movement full of dips and pumps

[mk4]

not fake demand, but the real demand of the public who do not get a response from both the government and the world, so they choose to reject bitcoin. the reality is that demand is always increasing every day.

The publicity of bitcoin is increasing but not necessarily the demand. The demand is probably quite stagnant right now(most likely not in an upward trend) as there's more fear than hope currently, compared to late last year when everyone was thinking of lambos and crap.

[classictee]

More investors are really venturing into bitcoin and as such most the not know the way bitcoin work. Most believe that some one is somewhere turning the price up and down. Most did not know that it is strictly cuase by the dumping by the users.

[Uyiosarugue1]

there is too much dependence on the etf proposal,if it fails price reacts negatively

[matthewio]

I believe there is so much FUD in the market especially as it seem the price is now dependent on the bitcoin etf success

[Kemarit]

I believe there is so much FUD in the market especially as it seem the price is now dependent on the bitcoin etf success

I don't think that the price is dependent on the success of Bitcoin ETF, although it contributed to the last price spike we witness when it grow as high as $8500. But there are still other factors to consider with.

could[/b] get adopted by the mass but only in the very long term (circa 10 years), in countries such as Japan. So this will take a WHILE, and of course any government decision can harm bitcoin. Japan is friendly towards bitcoin, lets hope it remains as such in the future.

Japan already did its part and really embrace bitcoin specially during the time when China suddenly turns its back against us. But we really don't know when it will be mass adopted. Nations around the globe is still divided. So we have to wait for the G20 regulations in October. But they already said that crypto is not risk the overall financial system. So we might be waiting for another catalyst that will re-ignite the market 2 months from now.

[darkangel11]

First of all there was no manipulation. People heard about futures contracts coming in, there was a lot of adoption in Japan and Korea, that's why we had the first initial run up to 5k. When people saw that and knew the bear market is behind us started buying and created this cascade of buy orders. Take into account that a very limited number of coins is being traded. What you're seeing bought and sold is the same money over and over while half of the supply lies dormant on cold wallets. If you put enough newcomers on the market in a short period of time they will be rebuying the same coins at ever growing prices and that's what happened in December.

[Asimmo]

Hi,

Now it is crystal clear that last year rise was purely caused by manipulation (= FAKE DEMAND)

For all those hoping that bitcoin will become mainstream, then those times are not for today, sadly.

My humble opinion is that bitcoin could get adopted by the mass but only in the very long term (circa 10 years), in countries such as Japan. So this will take a WHILE, and of course any government decision can harm bitcoin. Japan is friendly towards bitcoin, lets hope it remains as such in the future.

I partially agree that last years rise was due to price manipulation but maybe some are real demands, that's why it caught regulators attention. But this years rise will be real since more institutional investors will start accumulating.

That`s the point, we need slowly and healthy rise, proportional to adoption and real life usability.
We all saw what over PR and newbie wave brought to crypto after February 2018

[Victorycoin]

not fake demand, but the real demand of the public who do not get a response from both the government and the world, so they choose to reject bitcoin. the reality is that demand is always increasing every day.

The publicity of bitcoin is increasing but not necessarily the demand. The demand is probably quite stagnant right now(most likely not in an upward trend) as there's more fear than hope currently, compared to late last year when everyone was thinking of lambos and crap.

A pointer in the direction you highlighted above is the fact that by this time last year, we were not daunted with half as many distracting altcoins as is today and the token frenzy was indeed not this maddening! It's a fact that there are a significant number of people that are eking to relive the 2013-2017 Bitcoin euphoria now in altcoins/tokens and that's unarguably where the supposed demand for Bitcoin gets short changed. Nevertheless the demand for Bitcoin is everything but stagnant.

[nussy]

Last year increase in price of bitcoin was as a result of mass adoption of bitcoin, but the present situations can be say to be a manipulation. With this we could not the price to increase up to 10,000 it might not happen this year again.