Bitcoin is dying?

[Rajamuda]

The situation is like weakening and it seems as if people are thinking negatively on bitcoin, but it hasn't made sure that it will indeed end badly, I think it's good to keep holding it and have another job or other income in real life, because it could still be up in the next recovery. The point is not to be too dependent on it, but still have a sense of optimism for that.

[1714066235]

1714066235

[stoat]

I think you might be correct. The only game left in town is stealing electricity to mine.

There is no upward impetus of adoption just miners mining and dumping a viscious cycle of death by a thousand bankruptcies

[BorutosDad]

Truly, bitcoin's value is slowly dying. As of this posting, Bitcoin's value is now at $3200ish pretty bad with its current state right now. In my opinion, it will touch the $1500 mark (if given the current state and pace) by the end of first quarter next year. Usually first quarter of the year, coins experience further dip in price.

I think that it's too early to define BTC and other crypto as great idea for investment. There is quite lotof hacking cases. so, imho, it's not a good idea to invest in something that may be stolen by a person from any place.

[deisik]

many people speculate and predict the price of bitcoin but I think we should still think positively about bitcoin so we don't have to worry because bitcoin will definitely be able to survive and will rise again

Its not a death, its a retraction which is entirely different. This price is still at this point well above my imaginations from 2014, 2015 and all the way upto early 2017 spring or so. I didnt think it'd go that high at all, how can be anything close to death really, its resting heavily sure but to a large extent this can be argued as a very healthy pause to re-consolidate for the longer term

That's the point which plenty of folks forget to remember (that sounded funny)

And let's add to this point the fact that Bitcoin's rise was absolutely meteoric. Well, I don't really know if the term "meteoric" is quite applicable to something rising very quickly, but absolutely describes it perfectly. If I'm not mistaken, in July 2017 it was still trading below 2k. Later, in August, it also corrected massively from almost 4k to the tune of 2.5k in a matter of days. Then we all know what happened next as Bitcoin rose 5 times in less than 4 months. To tell the truth, it is totally amazing that Bitcoin is still trading over 3k with plenty of support after more than a year of downtrend, that its fall was not quite "meteoric"

[Sethrey]

I think you might be correct. The only game left in town is stealing electricity to mine.

There is no upward impetus of adoption just miners mining and dumping a viscious cycle of death by a thousand bankruptcies

I think that no one is mining now and how can btc widen if no one generates it?
Or some big corporations still do that?

[BiteMyShinyMetalAss]

I think you might be correct. The only game left in town is stealing electricity to mine.

There is no upward impetus of adoption just miners mining and dumping a viscious cycle of death by a thousand bankruptcies

I think that no one is mining now and how can btc widen if no one generates it?
Or some big corporations still do that?

During 2014-2016 bear marker, there were a lot of simple people buying miners, lots of pre-order scams. Now its a bit different, people no longer buy miners, they buy altcoins and mining is left for big dogs exclusively.
As far as I remember, miners seldom made BTC value back to you. There is little incentive to buy a miner instead of buying BTC.

 

[BLAST2MARS]

I think the sharp fall in price of bitcoin is not because of dying but because there's a 'purge' that has been going in this market for a year. If you guys are updated, SEC summoned some shady ICO projects like Centra and also those other exchanges that faked their volume.

[Sethrey]

I think you might be correct. The only game left in town is stealing electricity to mine.

There is no upward impetus of adoption just miners mining and dumping a viscious cycle of death by a thousand bankruptcies

I think that no one is mining now and how can btc widen if no one generates it?
Or some big corporations still do that?

During 2014-2016 bear marker, there were a lot of simple people buying miners, lots of pre-order scams. Now its a bit different, people no longer buy miners, they buy altcoins and mining is left for big dogs exclusively.
As far as I remember, miners seldom made BTC value back to you. There is little incentive to buy a miner instead of buying BTC.

 

I never mined and not planning to do that. It's much easier to buy coins on exchanges than waiting for them to mine and spend even more money on electricity.

[emilanea56]

Now, bitcoin's price is around 3600-3500, I dont think it's gonna go up nearly, by many long bearish candle, it would fall to 3200-3000 no far. On the other hand, I have never seen any asset which would go up after its big bubble. I guess it take about 1-2 year for bitcoin restoring.

[Tagus45]

It's good to choose patience and keep holding rather than despair and decide to come out with a loss. I believe bitcoin will recover again even though the market is currently falling low.

[goaldigger]

Imagine buying on that $2000 bitcoin price then after a year, you will have $14,000 in your account effortless? Do you think it will consider as dying?. Investment doesnt always go forward or else its not an investment but rather a savings account with having a very little interest.

[sunanbonang]

Imagine buying on that $2000 bitcoin price then after a year, you will have $14,000 in your account effortless? Do you think it will consider as dying?. Investment doesnt always go forward or else its not an investment but rather a savings account with having a very little interest.

then what if a year later the price is $ 1400? not $ 14000. investment also cannot be separated from the risk of loss. maybe you will answer "keep holding"
that's a very common answer 

[chulos]

Hello, the opinion of the exprets is one thing and your decision is the second one. You have to decide yourself. Even though the Bitcoin price is declining, i would definitely not sell it.
I'd rather keep my bitcoins and forget about them for a long time. Even if the situation is unfavorable now, everything can turn over time. And you'll be glad you did not sell.
Definitely i would not forget at all crypto-world, still have a lot to offer.

[wildey]

Imagine buying on that $2000 bitcoin price then after a year, you will have $14,000 in your account effortless? Do you think it will consider as dying?. Investment doesnt always go forward or else its not an investment but rather a savings account with having a very little interest.

maybe they say that this decline is one example of why bitcoin will become dying. well, I think this is just a general problem that is quite normal. even though this made some people panic, I never thought that bitcoin was dying, even more so if the price was still quite high to date.

[romero121]

Imagine buying on that $2000 bitcoin price then after a year, you will have $14,000 in your account effortless? Do you think it will consider as dying?. Investment doesnt always go forward or else its not an investment but rather a savings account with having a very little interest.

maybe they say that this decline is one example of why bitcoin will become dying. well, I think this is just a general problem that is quite normal. even though this made some people panic, I never thought that bitcoin was dying, even more so if the price was still quite high to date.

Already it has faced several such price declines till date. People who have known about the true reality of the cryptocurrency market never use the word dying or death. People who were into the cryptocurrency network with panic mind always have a thinking in the mind it might die. I believe, bitcoin doesn't have death. The price fluctuations were common and we need to be prepared for all market situations.

[drachman]

Hello, the opinion of the exprets is one thing and your decision is the second one. You have to decide yourself. Even though the Bitcoin price is declining, i would definitely not sell it.
I'd rather keep my bitcoins and forget about them for a long time. Even if the situation is unfavorable now, everything can turn over time. And you'll be glad you did not sell.
Definitely i would not forget at all crypto-world, still have a lot to offer.

Forgetting about your coins is not really a strategy that I will advise to anyone, those that forgot about their coins got two different kind of results, those that invested very early in the life of bitcoin got a nice surprise when they remembered they had some bitcoins stored in their wallets but most likely if you forget about your coins you will only remember that you have them when you see the price crashing and at that point it will be too late to sell.

[Klausi]

Hello, the opinion of the exprets is one thing and your decision is the second one. You have to decide yourself. Even though the Bitcoin price is declining, i would definitely not sell it.
I'd rather keep my bitcoins and forget about them for a long time. Even if the situation is unfavorable now, everything can turn over time. And you'll be glad you did not sell.
Definitely i would not forget at all crypto-world, still have a lot to offer.

Forgetting about your coins is not really a strategy that I will advise to anyone, those that forgot about their coins got two different kind of results, those that invested very early in the life of bitcoin got a nice surprise when they remembered they had some bitcoins stored in their wallets but most likely if you forget about your coins you will only remember that you have them when you see the price crashing and at that point it will be too late to sell.

That's not a problem of being late to sell as long as you see your holdings to be safe in your wallet. Money in physical form of paper always prone to spending, so what's money for if you will spend that very fast. It's better to hold that asset rather than wasting it to nonsense things in this world. If there's a chance to hold later, so do it and wait until such time it became profitable. No point of bitcoin to die here, rumors will always be speculations and not believable.

[STT]

I agree with you that cryptocurrencies market needs cleanse. Only best projects will survive through bear market, and these projects will be greatest opportunities for next bull run. Bitcoin will not die in near future.

Natural dynamics can be harsh, survival of the fittest is familiar to many.   Its probably a necessary process and part of capitalism that only the most resilient projects will survive.   To me I'm thinking efficiency, alot of coins are operating with a high cost to their networks and confirmation of transactions.    A normal process sees consolidation towards aiding the lowest costs, ultimately the benefactor of a competitive market though harsh should be the consumer, if crypto is 'real' it's going to go through this after any boom in interest.    Not actually a negative thing, ditto for economies in general

[wxa7115]

Hey guys!

I have some btc in my wallet and I believed in best but yesterday I watched some crypto news and everything seems to be even worse than I expected.
Some crypto experts told that till the end of the year Bitcoin will lose 50% percents and will come to 2500-3000$..

I don't know whether to believe in it or not.. There are so mane predictions these days.

What do you think about it? Is it still worth holding or it's time to sell everything and forget about it?

From the point of view of profits it doesn't make sense to sell since you are just going to lose even more money, but I can understand if some people feel like they cannot hold their coins anymore, sometimes it is better to prioritize your health over profits and if you cannot sleep and you are stressed out every day because of what is happening in the market then it could be a good idea to sell your coins and forget about the market for the next months or even for a whole year.

Because no amount of money is big enough to deteriorate your health to the point you notice it, so you need to make a choice and it is not an easy one and I hope that you take the right one.