Two Years Ago, Bitcoin Was Over $19,000 — What Happened?

[kro55]

19000$ was ATH and ATH price cannot be maintained for a long period and it’s a blue moon that appears only once in years. Those who have missed the opportunity will have to wait for an indefinite period of time to see that blue moon. 19000$ was an overrated price that was backed by pumping by whales and FOMO by millennials.   

[STT]

The pullback this time is way less then it felt after the peak in 2013 but its basically just another iteration of the same sentiment change.   People get carried away and over do it, too many people buy BTC and never use it which means we get top heavy.    THe market will wring the rag dry until all the people who never actually wanted to be part of BTC idea to break away from dollar are sellers, it ends settling or flatlining a bit and then we reappear with a more bullish tone.
  Nothing different time, its a question of perspective and experience gained from long term involvement with BTC helps alot I reckon.

[asus09]

I always assume that Bitcoin will be able to run again in 2017. And now more and more companies and countries are embracing Bitcoin, so in my opinion Bitcoin is more and becoming more and more popular. The price of bitcoin is going down right now, but I don't think it's the end of bitcoin. Bitcoin's rising and falling prices are popular. So I'm not worried and I'm sure the price of bitcoin will be more costly in the future with all the features and benefits of bitcoin.

Bitcoin is politically running where have popular and richest person in the world like with bitcoin he will give good opinion for investing with bitcoin and make price raise up, but other way when have people get a lot of reputation in bigger country in United of American like president Trump hate with bitcoin and said negative side from bitcoin will effect for bitcoin have lower price, we can keep trusted bitcoin always have higher or lower price at the future, just running with your moment when have to sell and buy bitcoin.

[peter0425]

He probably forget three years ago, bitcoin was by far less than $100, they’re just trying to cherry picking on the price, but two and three years does it make much difference? Do you brother with what you did five years ago? I could barely remember three years ago and every moment.

you got it mate,this is the problem if the people only looking for the bad things that happening in the market,but don't even bother to check the good things that happen in Bitcoin for the rest of 10 years.

but we cannot blame them because many of them has been here only when the HYPE happens in 2017 but not when bitcoin is just sitting in 3-4 digits .

[Meowth05]

I always assume that Bitcoin will be able to run again in 2017. And now more and more companies and countries are embracing Bitcoin, so in my opinion Bitcoin is more and becoming more and more popular. The price of bitcoin is going down right now, but I don't think it's the end of bitcoin. Bitcoin's rising and falling prices are popular. So I'm not worried and I'm sure the price of bitcoin will be more costly in the future with all the features and benefits of bitcoin.

In my point of view, Bitcoin is not yet over and I do believe that it is just getting started hence, we could see Bitcoin in a bull run just like what it had before or probably even more. Like what you have said and based on what we have observed upon our society, the world is gradually accepting the utilization of these cryptocurrencies especially Bitcoin. A lot of big business enterprise who have been acknowledged of these cryptocurrencies and by these circumstances, this could lead to massive adoption.

[JollyGood]

What happened is that markets are fickle and people generally get stressed out over nothing.  I'm honestly past caring whether it's bull or bear season because I have no plans to sell in the foreseeable future.  Given that the traditional economy has effectively failed an entire generation or two, BTC is now, most likely, the only way I'm going to have anything resembling a pension when I retire.  This shit is my nest egg now.  Accumulate and hodl*.

_{*<insert usual disclaimer about not being a qualified financial advisor>}

 

A relatively modest yet accurate way to sum it all up

[drachman]

He probably forget three years ago, bitcoin was by far less than $100, they’re just trying to cherry picking on the price, but two and three years does it make much difference? Do you brother with what you did five years ago? I could barely remember three years ago and every moment.

Bitcoin wasn't $100 or under it three years ago. But yeah, it was cheap, and every time i see bitcoin over 1k, it's a win for me and it feels we are in bullish market related to that.

For all of those that acquired their coins when they were relatively cheap it may seem as if we are in a perpetual bull market since it does not matter what they do as long as they hold their coins they will always be in profits, but for the rest of the people they need to worry constantly about the price, just a few days ago people were worrying about the price of bitcoin going below 7000 and they wondered if the bears will finally succeed and make the price to go even lower and then a few days later bitcoin is close to break the 8000 level.

[alisonwonder]

19000$ was ATH and ATH price cannot be maintained for a long period and it’s a blue moon that appears only once in years. Those who have missed the opportunity will have to wait for an indefinite period of time to see that blue moon. 19000$ was an overrated price that was backed by pumping by whales and FOMO by millennials.   

and that happens always after halving happened in the previous year, like 2012 and 2016. so when supply decreases demand will certainly increase, and it is very likely that there will be a new ATH in 2021.

[Visbay]

19000$ was ATH and ATH price cannot be maintained for a long period and it’s a blue moon that appears only once in years. Those who have missed the opportunity will have to wait for an indefinite period of time to see that blue moon. 19000$ was an overrated price that was backed by pumping by whales and FOMO by millennials.   

and that happens always after halving happened in the previous year, like 2012 and 2016. so when supply decreases demand will certainly increase, and it is very likely that there will be a new ATH in 2021.

Yeah, price of crypto is all about demand and supply so when demand rises and supply decrease than we see price increasing rapidly and in last two years bitcoin and crypto had high demand but because if huge purchasing supply was lower than demand but then people suddenly start selling to get profit that made supply ratio higher than demand so price went down.

[bitbunnny]

What happened? Volatility, conditions on the market. Did you really think that the price will go only one way, up? That is not sustainable and sooner or later price must fall, the question is only how much.
When investing you always need to have volatility in your mind, counting on risk and possibility that you will suffer loss. When Bitcoin is involved don't always be too optimistic and once you see howard trend don't forget that sooner or later you will see downtrend also.

[cutesgirl]

19000$ was ATH and ATH price cannot be maintained for a long period and it’s a blue moon that appears only once in years. Those who have missed the opportunity will have to wait for an indefinite period of time to see that blue moon. 19000$ was an overrated price that was backed by pumping by whales and FOMO by millennials.   

and that happens always after halving happened in the previous year, like 2012 and 2016. so when supply decreases demand will certainly increase, and it is very likely that there will be a new ATH in 2021.

Yeah, price of crypto is all about demand and supply so when demand rises and supply decrease than we see price increasing rapidly and in last two years bitcoin and crypto had high demand but because if huge purchasing supply was lower than demand but then people suddenly start selling to get profit that made supply ratio higher than demand so price went down.

Bitcoin is crazy when you really trusted with higher price maybe you have been failed because bitcoin down whit lower price, last two year when bitcoin have been raise $19000 and whit short day later bitcoin have been down and many people looks frustrated until now because bitcoin can't back whit higher price.

[Finestream]

What happened? Volatility, conditions on the market. Did you really think that the price will go only one way, up? That is not sustainable and sooner or later price must fall, the question is only how much.
When investing you always need to have volatility in your mind, counting on risk and possibility that you will suffer loss. When Bitcoin is involved don't always be too optimistic and once you see howard trend don't forget that sooner or later you will see downtrend also.

Volatility would always gives us a chance to be profitable if we play with it, it's okay to invest for long term but the pump and dump could also happen because it's not new to the market and if this happens we should know what to do.

That's why the short term are profitable because there's a lot of moments that we see a pump and dump in the past year and hopefully this year would be more different and hope we will see more bullish trend this year.

Started at $7k this year is not bad compared to last year but let's see what price we will end up this year, hopefully we can double that the least.

[drachman]

What happened? Volatility, conditions on the market. Did you really think that the price will go only one way, up? That is not sustainable and sooner or later price must fall, the question is only how much.
When investing you always need to have volatility in your mind, counting on risk and possibility that you will suffer loss. When Bitcoin is involved don't always be too optimistic and once you see howard trend don't forget that sooner or later you will see downtrend also.

As ridiculous as it may sound many people do not understand that the market cannot go up permanently, and they think this because they do not really understand how the market works, if someone is selling anything for a price in order for the price of that asset to go up then someone else needs to be willing to buy it for a higher price, but at some point the price of that asset is going to be too high for most people and they are not going to buy and that is when we see a crash and that is what happened the bitcoin years ago.

[Mahanton]

What happened? Volatility, conditions on the market. Did you really think that the price will go only one way, up? That is not sustainable and sooner or later price must fall, the question is only how much.
When investing you always need to have volatility in your mind, counting on risk and possibility that you will suffer loss. When Bitcoin is involved don't always be too optimistic and once you see howard trend don't forget that sooner or later you will see downtrend also.

As ridiculous as it may sound many people do not understand that the market cannot go up permanently, and they think this because they do not really understand how the market works, if someone is selling anything for a price in order for the price of that asset to go up then someone else needs to be willing to buy it for a higher price, but at some point the price of that asset is going to be too high for most people and they are not going to buy and that is when we see a crash and that is what happened the bitcoin years ago.

Market do involves buyers and sellers on where most newbies do missed out on how a true market works.
I cant deny that i do able to feel out the same when im just still starting here on this market where i do have that
kind of perception where market do only goes up and never come down.Later on, those hopes were crashed same
goes to my investment which made me realized that things arent working on what you anticipated.Well, you can
 really learn from your mistakes and now you should try up your best to go along with the volatility and utilize
these movements for you to make money.

[smyslov]

For me, I think the market has matured enough and it may not likely repeat like what happened in 2017 (but I could be wrong too if analysts are correct about their bull run prediction), but it would be unlikely.

Yes I agree that the market and the whole community have matured, but I do not agree on your opinion that what happened in 2017 will not happen again, so where all the predictions will soon become 6 digit in value, so is the $20 k level is the last stop of Bitcoin on its price, Bitcoin price is dynamic it will have another all time high the community believe on that.

[asus09]

For me, I think the market has matured enough and it may not likely repeat like what happened in 2017 (but I could be wrong too if analysts are correct about their bull run prediction), but it would be unlikely.

Yes I agree that the market and the whole community have matured, but I do not agree on your opinion that what happened in 2017 will not happen again, so where all the predictions will soon become 6 digit in value, so is the $20 k level is the last stop of Bitcoin on its price, Bitcoin price is dynamic it will have another all time high the community believe on that.

I think is the way why I like investing with bitcoin and altcoin because price can raise up and down drastically, we know how much bitcoin price last two year and raise above $16k although now down lower $8000, I think have way to make profit with bitcoin by re investing and hold bitcoin for long term to get profit back and see bitcoin on higher price.

[nickenburg]

A lot of new people entered the Bitcoin/cryptocurrency world, it kinda became mainstream, everyone was talking about it, the news, people around us.
It was to hyped up and it became a bubble but this is not the first time it happened, same thing happened when the price went over 1000$ the first time, a big crash with a few years of going down and up.

Then suddenly in 2017 the price went to 20000$ and the same thing happened again, and I think we are going to see the same thing again soon.
Where the price will go insanely high to probably 100000$ and then we are gonna crash again for a few years but still we reached a new lower price point which is going to be higher then the last ultimate high($20000)

This was already explained a lot that the price is volatile and as Bitcoin gets older we are going to see the market stabilize more and more.

[STT]

A lot of new people entered

Its mostly a repeat or cycle and iteration of a continued theme which is volatile growth.   BTC was national news in 2013, long discussion pieces on this new technology then it had a lull etc.   Mostly as a source we have unstable FIAT standards to sell or advertise the benefits of being independent of just one ecosystem especially where that currency is isolated from actual real trade.
   The main take away is that though population varies, does it generally increase and I believe it does.   Its important that utility continues to improve to justify the attention and reliance people place upon on it, or we may get a competitor to the crown which in open capitalism is always possible.

new lower price point which is going to be higher then the last ultimate high

Thats probably true, though the dips are harsh we seem to maintain above the old highs though it may be years back & a harsh pull back.   We do advance forward nominally and so it continues to justify a long term bullish stance.   What I would really like to do is better time my involvement and avoid being negative while we accumulate in price but also not be caught up in believing price always rises, it wont it falls harshly when and if market demands it.

[greatr]

Then what's the problem, you sold at peak. You're fortunate, you have the chance to sell at peak, and right now you've had the opportunity to buy again at low prices. Are you sad about the price right now? In fact, the price is doubled from what we have this year in January. When you want to be at max profit, you can't change the price because you're tired of waiting. You had to recognise that we have more bear market time, and that's why patience is one of the main if you're going to succeed here.

[STT]

I'm not especially optimistic on BTC until people find a reason to hold or gain even while price is falling.   A super basic example would be interest gained by holding a deposit somewhere, I guess some exchanges do allow people to lend out their BTC at some rate for shorting purposes or lend capital to a business.  The more there is of that, the greater baseline we have to the BTC price.
   I personally go long and short on BTC at the same time, on different accounts and with various cost or benefit.   Ideally that's possible while price falls and not be so affected by price variations.