I don't like this stable price!

[omonuyak]

For some of us that has been speculating that bitcoin is going to pull back to $3,000 and $1500 I don't think the current stability is going to allow that to come to pass and for those that said bitcoin is to moon,  maybe above $20,000 the stability is still not going to allow that to happen.  However,  if bitcoin price is not stable within a range there is not going to be adoptions buy retail and wholesale business. Stability of price is what will help bitcoin become  acceptable.

[YuginKadoya]

A pullback of $1500 is not gonna happen, And bitcoin is not stable at all and it's not gonna happen either  until we can see the  last block get mined it is just moving in a slow pace whether it is up or down, But in a stable price just like fiat currency is not bitcoins vocabulary at the time, Well that is why many banks don't consider it in their adoption list, And so many don't seems to like the bearish market at the moment however I really think we can sure see a pump in the near future so for now make your way in acquiring a lot of bitcoin for now.

[WinslowIII]

Give it time, it will be dumped down where you want it next year - maybe not $1500 but for sure $3k range. Then you can look forward to the next pump 2021.

[Quidat]

Give it time, it will be dumped down where you want it next year - maybe not $1500 but for sure $3k range. Then you can look forward to the next pump 2021.

That's way too far to happen if it will ever dump because if you can see how bitcoin reacted to every FUD or let's just say someone was manipulating again to the prices of bitcoin. It just moves too slow and yet it was still recovering so as you can see the stability is beyond normal because it isn't stable yet.

[Question123]

Stable price is still good because you can buy more bitcoin now and once the price increase you will earn profit. I don't think the value will dump with that price. And Im sure of that even not this year 2018 bitcoin become 20,000 atleast next year 2019 they will hit that again .

[kumiskura]

Give it time, it will be dumped down where you want it next year - maybe not $1500 but for sure $3k range. Then you can look forward to the next pump 2021.

That's way too far to happen if it will ever dump because if you can see how bitcoin reacted to every FUD or let's just say someone was manipulating again to the prices of bitcoin. It just moves too slow and yet it was still recovering so as you can see the stability is beyond normal because it isn't stable yet.

If Bitcoin does not get dump to that level next year or two years later, the probability for it to get dumped to around that level is 0 because miner expenses are huge, and i believe peoples won't let them off too far. Even if when manipulation at its finest, they probably won't let them away because we need them to run the chain.
also lately Bitcoin did not react as it used to be when FUD comes, that means peoples were good enough handling their emotion when that thing happened. But the problem here is manipulation, Bitcoin gets manipulated so heavily. There was no news happening but the price went down, it's like someone trying to hold its horse and force it to back off whenever it started to make a recovering.

[gentlemand]

There could be a whole lot of nothing ahead of us before a decisive direction is taken. As it stands we have no real idea where we're at in terms of boom and bust cycles especially as for the first time traditional markets are looking pretty weak.

There seem to be a lot of people expecting a blow by blow rerun of previous bubbles which doesn't seem realistic to me. This was one was way huger than the previous one with a ton more people and a ton more hot air yet to blow off completely. It would be nice if this was the boring endless sideways phase before an eventual slow rise again sometime in the next year or two but that all feels a little too neat to me.

Could it be a chunk lower in 3-6 months? I would not be shocked. It seems inconceivable to some now but I've always been amazed at the speed that something formerly inconceivable becomes the new norm within a week or two.

[BitHodler]

However,  if bitcoin price is not stable within a range there is not going to be adoptions buy retail and wholesale business. Stability of price is what will help bitcoin become  acceptable.

Stability might look like it's needed to attract that type of adoption, but we're proven wrong with how payment processors experience record lows in terms of actual revenue and usage.

People aren't comfortable spending their coins during stable time frames, especially not during a bear market. Every corner of the industry is suffering from it and there is no way to stop it as long as we aren't going up.

Most of the spending happens when the price moves up with how easy of an option it is to cash out your coins without being taxed. In other words, we're far from our ideal picture where Bitcoin functions as currency.

[gentlemand]

In other words, we're far from our ideal picture where Bitcoin functions as currency.

Does anyone honestly expect it to become an everyday currency? I never have.

I expect merchant options to continue contracting until options are possibly narrower than they were in 2014/15. If it isn't current boredom now it was the incredibly high fees and network cloggage when things were hotter that turned customers and merchants off.

If Bitcoin ever becomes vast and vastly more stable then perhaps its use for payments will start to increase. Until then it's going to be an extremely variable sideshow.

[WinslowIII]

There could be a whole lot of nothing ahead of us before a decisive direction is taken. As it stands we have no real idea where we're at in terms of boom and bust cycles especially as for the first time traditional markets are looking pretty weak.

There seem to be a lot of people expecting a blow by blow rerun of previous bubbles which doesn't seem realistic to me. This was one was way huger than the previous one with a ton more people and a ton more hot air yet to blow off completely. It would be nice if this was the boring endless sideways phase before an eventual slow rise again sometime in the next year or two but that all feels a little too neat to me.

Could it be a chunk lower in 3-6 months? I would not be shocked. It seems inconceivable to some now but I've always been amazed at the speed that something formerly inconceivable becomes the new norm within a week or two.

Its a predictable blow by blow rerun of previous bubbles because of the halvings in supply every 4 years. The only thing that is going to stop it is a failure in significant use cases.

[xuan87]

I agree that if the price can't be stable it will be difficult to be adopted by the store but it will be difficult to make crypto become stable, crypto is a decentralized currency the market will keep on moving and caused the price repeatedly gonuo and down, maybe a mass adoption could decrease the volatility, but it can't be too stable

[WinslowIII]

I agree that if the price can't be stable it will be difficult to be adopted by the store but it will be difficult to make crypto become stable, crypto is a decentralized currency the market will keep on moving and caused the price repeatedly gonuo and down, maybe a mass adoption could decrease the volatility, but it can't be too stable

If bitcoin were to remain perfectly stable with fiat from here forth, then what would the point of having any be? Banks pay about 2% interest these days, bitcoin holders get no interest.

[gentlemand]

Its a predictable blow by blow rerun of previous bubbles because of the halvings in supply every 4 years. The only thing that is going to stop it is a failure in significant use cases.

Looked at entirely unemotionally, Bitcoin is basically a really crappy idea for any kind of commerce. The price is unpredictable, there's an active disincentive for people to spend it, it's hard to secure.

The use case that can't be matched by anything else is its incorruptible nature, portability and fixed supply. That's more than enough for a significant chunk of the world's population to want to sink some money into it. I just can't see them buying their tampons with it.

[Hijack333]

Sorry but if somebody changes from BTC to USD because of 2% Profit generated by banks he never understood the intention of bitcoin.
Bitcoin is a POW coin not a proof of stake, where you get reward. The "reward" is that its getting harder to find some so its more expensive to create new BTC. So there always will be a price for hash and indirectly for bitcoin.

Price stability sounds good. Waiting for the next mass adoption.
We are just at the beginning. Its 10years now.
WWW was invented in 1989 by CERN so we are in 1999 now.
Just imagine you are online with a 56k modem paying per kb Data. Thats where we are now. 

"The price is unpredictable, there's an active disincentive for people to spend it, it's hard to secure."
-Sounds like surfing the www in 1999 

" I just can't see them buying their tampons with it. "
-Yeah not really possible buying tampons online in 1999. But today you have amazon. So in future they will use a payment channel to buy their tampons if needed. 

[cellard]

All these guys saying all the time how "we need a stable price to increase adoption" get exposed when the price is actually stable, but guess what, people keep using bitcoin mostly as a gold alternative, which means we must put store of value as number one priority.

I haven't studied this data deeply but I would like to see some correlation charts of periods of time of stable price and % increase of use in retail. I would guess that there's no correlation at all because as I said, people will hoard bitcoin regardless and keep using fiat which is the deprecating asset.

For bitcoin to replace fiat it needs to become everything, people must think in terms of bitcoin and not dollars, euros or whatnot. We are still far from that, but we don't really need to get there to see massive price increases.

[pooya87]

For some of us that has been speculating that bitcoin is going to pull back to $3,000 and $1500

anybody who has been speculating this, has no idea how a market works. and many of them have confused bitcoin with pump and dump shitcoins. they look at them and see they are pumping from $100 to $1500 then fall back down to $100 and think bitcoin should do the same missing out on the biggest difference which is utilities that bitcoin is providing and the "real" adoption that it has versus the only usage of those shitcoins which is speculation and pump and dump.

I don't think the current stability is going to allow that to come to pass

wrong.
the reason why it will never happen is the "real demand" that bitcoin has.
the stability right now is only showing the accumulation phase https://www.investopedia.com/terms/a/accumulationphase.asp

However,  if bitcoin price is not stable within a range there is not going to be adoptions buy retail and wholesale business. Stability of price is what will help bitcoin become  acceptable.

wrong again. we have seen adoption growth both during the most volatile times and the most stable times alike. in fact one of the main reasons why bitcoin price shoots up fast and big is exactly because of that adoption!
as an example you can take a look at the large scale merchant adoption in Japan last year when they accepted bitcoin as a "legal way of payment" and then removed taxes on it too. that led to a huge price rise and the rise led to more adoption and more rises.

[Kemarit]

All these guys saying all the time how "we need a stable price to increase adoption" get exposed when the price is actually stable, but guess what, people keep using bitcoin mostly as a gold alternative, which means we must put store of value as number one priority.

Because they really didn't understand that when bitcoin's price goes from $0.1-$100 it has become more of a store of value and a speculative asset and now its pretty obvious as the price literally goes to the roof specially in 2017. There's a whole lot of debate whether bitcoin is a currency or store of value, but I'm leaning towards the latter because just because this is what I'm been witnessing in the last 2-3 years. Well I'm been using bitcoin as medium of exchange for quite some time but its becoming more appealing to those investors as it provides a viable instrument to get away from hyperinflation or even capital controls.

[Pursuer]

All these guys saying all the time how "we need a stable price to increase adoption" get exposed when the price is actually stable, but guess what, people keep using bitcoin mostly as a gold alternative, which means we must put store of value as number one priority.

Because they really didn't understand that when bitcoin's price goes from $0.1-$100 it has become more of a store of value and a speculative asset and now its pretty obvious as the price literally goes to the roof specially in 2017. There's a whole lot of debate whether bitcoin is a currency or store of value, but I'm leaning towards the latter because just because this is what I'm been witnessing in the last 2-3 years. Well I'm been using bitcoin as medium of exchange for quite some time but its becoming more appealing to those investors as it provides a viable instrument to get away from hyperinflation or even capital controls.

if bitcoin was only for "speculation and trading" then its price would have declined down to that $100 by now because in that decline there is a lot of profit to be made by "speculators and traders". but as you can see that is not happening, why? because bitcoin has another usage and that is being a decentralized, boarder-less, censorship resistance currency and that gives it its value.

you can check the market reaction last year (for example prior to August) when fees were rising ridiculously high, scaling solutions were being rejected and bitcoin was losing its "currency" aspect because of that. price was declining and couldn't rise. and as soon as scaling solution moved ahead and there was hope for bitcoin staying a currency and having a better future as a currency with things like LN the price started rising up again and we saw ATH.

[figmentofmyass]

tired of stability eh?

12 hours after the OP: price spikes 20% on bitfinex in less than 2 hours.

we broke out past $7430, so that's the first higher high we've seen since the crash last year. i know there's some weird stuff happening fundamentally with bitfinex, but in my experience, these technical breakouts don't get ignored.

[Juggy777]

For some of us that has been speculating that bitcoin is going to pull back to $3,000 and $1500 I don't think the current stability is going to allow that to come to pass and for those that said bitcoin is to moon,  maybe above $20,000 the stability is still not going to allow that to happen.  However,  if bitcoin price is not stable within a range there is not going to be adoptions buy retail and wholesale business. Stability of price is what will help bitcoin become  acceptable.

I don't know who are these people who're speculating absurd things about bitcoins touching such low levels, these people I feel have associated bitcoins with those shit alt coins which experiences such dumps. I don't think bitcoins and stability to hand in hand, and even a novice trading in bitcoins knows it can never be stable, I don't think anyone cares whether the wholesale people come in or no, as you cannot expect bitcoins to be a subsitute for your daily currency, it's prices are never going to be stable enough for that. Also it's pertinent to note that adoption in bitcoins has always been high irrespective of the stability, network fees or the fud, it's value has kept on increasing.