Are You Concerned On Sudden Rise of Bitcoin?

[salamat700]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

[mk4]

Concerned of what? Usually, huge price rises like this always follows a correction, which is very likely to happen and is to be expected. With that said, what should we be concerned of? Regardless if we had this huge spike or not, majority of people still don't look at bitcoin as a good SoV in the first place anyway due to the price instability. In the long term, this is just going to be a blip in the charts.

[aioc]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

It's been addressed so many times, volatility has been attached to Cryptocurrency even since Bitcoin was first traded, and there was no damage done, those companies already had a safety need on this and users are all aware of the movement of the price, anyway there's always correction and it's happening right now, your concern has no basis and we can expect more of this in the future.

[kryptqnick]

Concerned of what? Usually, huge price rises like this always follows a correction, which is very likely to happen and is to be expected. With that said, what should we be concerned of? Regardless if we had this huge spike or not, majority of people still don't look at bitcoin as a good SoV in the first place anyway due to the price instability. In the long term, this is just going to be a blip in the charts.

Well, even though I am also happy to see this sudden rise, if the reason behind it is the Chinese President, it can backfire harder than a typical correction would. For instance, he might issue a statement explaining that cryptocurrencies will be banned and Blockchain will be used for other purposes or that the only legal crypto will be the Chinese national crypto... This could kill the excitement overnight, followed by Bitcoin going below $7500... It is not very good that such controversial regions are still playing at important role in Bitcoin's price formation (if this is what's happening, that is). It makes it all very fragile.

[Pearls Before Swine]

Not concerned in the least.  I'd be worried if bitcoin had suddenly dropped to something like $6000 or lower, but even then I've seen enough in the land of bitcoin to realize that extreme price changes are to be expected in between long bouts of boredom.

I wouldn't say the price has recovered yet (it's too soon to tell), but what just happened in the past few hours is encouraging at least.  The only thing that might concern me a little is that it's times like this when FOMO kicks in and traders start driving up the price past the point that it can be sustained.  That's not healthy for bitcoin, but we'll see how it goes.

[hello_good_sir]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Concerned why it went up? Not really, probably due to a huge range of reasons. Concerned that there will definitely be a price correction in a couple of days and we'll probably fall below 10,000 again? Definitely...

Never had a weirder market, I didn't expect the news from China to have such an impact on a bearish market, and I'm personally likely just going to play it safe for the last couple of weeks, my heart can't just take waking up to see the prices gone up by 20 percent.

Let's see though - it's a wild ride, not sure if I want to be on it all the way though.

[Red-Apple]

what is there to be concerned about when the rise is just a small recovery of the value that was lost because of manipulation?
the only thing to raise any concerns was a couple of days ago when the price had the fall and went that low otherwise the rise was something that you should have expected by then and your surprise should have come when the drop happened not when the drop was corrected.

[chaoscoinz]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

I'm concerned 100%, because price surges are the reason for Bitcoin nearing $20k a while back, and you know what happens after the price stops moving? The bubble pops and deflates relatively low. So I'm on the edge about the price movement moving to damn fast, but enjoy it while it lasts.
   Easy come, easy go they say!

[mk4]

Well, even though I am also happy to see this sudden rise, if the reason behind it is the Chinese President, it can backfire harder than a typical correction would. For instance, he might issue a statement explaining that cryptocurrencies will be banned and Blockchain will be used for other purposes or that the only legal crypto will be the Chinese national crypto... This could kill the excitement overnight, followed by Bitcoin going below $7500... It is not very good that such controversial regions are still playing at important role in Bitcoin's price formation (if this is what's happening, that is). It makes it all very fragile.

Sure. But again, it doesn't really matter, as this will just be a blip in the charts in the long term. Who cares if the excitement dies overnight? This sort of pumping event has happened multiple times in the past. The markets are irrational, and don't expect it to change anytime soon. And lastly, we're not even sure if the China announcement was actually the main cause of the pump. It could totally just be a coincidence. But again, no one knows for sure.

[blckhawk]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Why are you worried about that at this time? People should have known, from 5 years of bitcoin's existence, that bitcoin is volatile. And that with every trades and investment to bitcoin, there's always a feeling of worriness because it is naturally risky. Every person I think that knows bitcoin, knows that it's volatile. What we can do is think rationally, and set aside our emotions when we do decisions in handling BTC to prevent further loss, or to gain some profit.

[angrybirdy]

No, there is nothing to worry about.
It is normal for bitcoin to have an increase in its price after the dip. It is volatile we can normally see ups and down anytime. We should not be concerned; instead, we should watch for more possible things to happen on its price.

[Ailmand]

No, there is nothing to worry about whenever the price comes up, just take what you can. Whenever there is a sudden surge, a market correction occurs. Most people are waiting for bitcoin price to rise. The market had been volatile ever since bitcoin was created, so this is not something new in crypto.

[Darooghe]

However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

You could easily fork bitcoin and make it stable, But a hardfork requires majority consent and it requires no significant opposition to be succeed. because any significant opposition is able to cause disruption and uncertainty around the period of a hardfork, which will be unwelcome and troubling to businesses and users in the ecosystem. therefore users/businesses are incentivized to oppose contentious hardforks.

Furthermore i think volatility can decrease soon, specially with future markets. cryptos are still young as digital assets, almost everything can put a pressure on prices: bad news, rumors of regulation or whales. it's good to know, many Crypto assets, despite their volatility, are still more stable than the local currencies of third-world countries such as Zimbabwe, Venezuela, Vietnam, Afghanistan and Iran . For this reason, cryptocurrencies will become a safe-haven for those who have their money stored in unreliable countries’ banks around the world.

[Text]

No, bitcoin's volatility will not cause any damage so you don't have to be worried about it. That is bitcoin. Well, I'm happy too just like you seeing the price increase after the past few days of bearish trend. I think, you should not say up and down prices as development. The true progress of BTC is the adaptation.

[qwertyup23]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Every rise in the price of bitcoin can be viewed as either positive or negative depending on your perspective but most of the time, you should treat it as an opportunity in your short-term investments.

Two days ago, the price of bitcoin fell to around $7,500 and its price skyrocketed today up to $9,300. If you purchased bitcoins last week, you may be able to garner a realization of income through short-term investments.
The only problem that I see when price starts to increase are the transaction fees. As prices increases, so as the fees provided in our respective exchanges.

[CryptoBry]

Concerned of what? Usually, huge price rises like this always follows a correction, which is very likely to happen and is to be expected. With that said, what should we be concerned of? Regardless if we had this huge spike or not, majority of people still don't look at bitcoin as a good SoV in the first place anyway due to the price instability. In the long term, this is just going to be a blip in the charts.

Well, even though I am also happy to see this sudden rise, if the reason behind it is the Chinese President, it can backfire harder than a typical correction would. For instance, he might issue a statement explaining that cryptocurrencies will be banned and Blockchain will be used for other purposes or that the only legal crypto will be the Chinese national crypto... This could kill the excitement overnight, followed by Bitcoin going below $7500... It is not very good that such controversial regions are still playing at important role in Bitcoin's price formation (if this is what's happening, that is). It makes it all very fragile.

This is a big testament on how China can be an influential with almost anything happening in the world right now. However, I don't really believe that the recent hike in Bitcoin price is directly linked to the statement of China's President on the blockchain because we already know long time ago that China is very much interested with using the blockchain technology but will not be touching on the issue of Bitcoin. There is nothing new there, and am sure that some analysts are just looking for some reasons of the flash upward movement and since they could not find one really credible they pick up that Xi Jinping thing.

Bitcoin has been known to be very volatile and I think this is its one major feature and as such the sudden rise and also sudden fall has no meaning attached to it anymore. As far as I know this will never damage anything of this coin but will further strengthen what we know of it, that it can be very volatile anytime.

[aysg76]

No, bitcoin's volatility will not cause any damage so you don't have to be worried about it. That is bitcoin. Well, I'm happy too just like you seeing the price increase after the past few days of bearish trend. I think, you should not say up and down prices as development. The true progress of BTC is the adaptation.

Yeah, I'm not really worried about the crypto's sudden rise since the coin is too volatile and these rise and falls are a normal thing for it. The price was facing dip from the past few months and now the investors are quite happy to see the inclination in the prices. But still, I think it is hard to predict whether this the beginning of a new bull run or a simple pump and dump rally...

[YuginKadoya]

Don't get too excited with this sudden surge or spike sometimes the next movement will be a correction, But this can be part of Bitcoin really going another All-time high or just readying us for another ride and because we are having another halving I guess this can be possible and the next year can be fruitful for Bitcoin, I am not really concerned about the sudden movement upward for Bitcoin in fact this is all in a prediction beforehand that it will then increase to $9000 USD something then on Next year march will be the day for the price to really proceed its next pace.

[YOSHIE]

Is my concern really valid in the face of this ongoing development?

There are several methods, courage and doubt, that you have when doing something and going to one goal.

I give you an example, when you want to leave for a country, by plane or ship, have you ever thought the plane crashed and exploded, a sinking ship cannot swim.

Before you enter the investment world like Bitcoin, what's in your heart and mind is profit / loss, if one of the profits and losses is in your mind that's what will happen to you.

Now, you sit and think I'm investing in Bitcoin.
What for....!
To whom...!
Loss.....!
Profit....!
Now you have to ask yourself, what am I doing ...!

After you answer this question in your heart, you will find (worries and doubts) that are currently overtaking you.

[boltz]

I'm not concerned as I don't think the bull run will begin any time soon as we're still months away from halv. I'm concerned that some of my altcoins won't rise until I manage to gather more as they tend to follow bitcoin rise this time which is surprising.

Even if Bitcoin did a nice jump last night , soaring 2k$ in about 2 hours which is like a flashback from the previous bull run in 2017 but then it calmed down as the sell orders were to big. Some says that this rise had something to do with China going PRO cryptos giving a lesson to USA as they stand against cryptos...so lets see what next days will bring into markets.