Bitcoin price history and the expected events in the coming halving

[Satosziforpresident]

There was just one year when the year's lowest price of BTC was lower than any of the previous year's lowest points. The rule is simple: buy btc!

[KiloFoxtrot]

Never took fiat to compare its inflation with BTC's. Very interesting point there. So from your personal perspective, do you expect BTC to go wild once people start realizing that its inflation is going down?

Not instantly but it'll be a cumulative thing that sneaks up.

In other words, due to halving... inflation will go down (not instantly but it'll be cumulative thing that sneaks up).

When you think about it, the whole time we've been here an absolute mountain of coins have been pouring on to the scene every day. It's the norm. It's what we've grown used to and I'm sure most people don't take the time to think it over or question it. We've always talked about 'fixed supplies' when we've been up to our necks in new coins needing disposing of.

This'll be the first glimmer of a future where coins won't have a giant bill attached to them from mining and if you want a large number of them there won't be a totally dependable and willing seller. Up until now it's been over half a million new coins arriving per year. In the past it's been several million. As that fades away that's going to have humongous effects and people have rarely pondered the massive dilution that's taken place so far. When it's on its way out they certainly will.

Also, the limited supply versus a growing demand (due to the scarcity of btc) will be the driving force towards.... future ATH's?

I'm just trying to make sure that I'm understanding and following the discussion correctly. Please feel free to correct me if I misunderstood.

[gentlemand]

In other words, due to halving... inflation will go down (not instantly but it'll be cumulative thing that sneaks up).

Inflation goes down instantly to 1.8% per year the moment it halves. That doesn't mean all that much for price if there isn't demand. Demands comes and goes. When demand does arrive that rubs against the reduced production rate, note that it's not supply which people usually mention. Existing coins are supply too.

Also, the limited supply versus a growing demand (due to the scarcity of btc) will be the driving force towards.... future ATH's?

I'm just trying to make sure that I'm understanding and following the discussion correctly. Please feel free to correct me if I misunderstood.

Yes. If we look at the bubble of 2013 there were maybe at most a few tens or hundreds of thousands of people getting excited, perhaps over a million at the absolute max, and their only option to buy was through some pretty obscure routes. You had to seek them out, some were seriously dodgy. At the same time 1.3 million new coins were arriving per year and approximately 65% of all coins had been mined.

If there was a bubble in a couple of years from now it's quite likely tens of millions of people would be getting excited with much smoother and much more prominent, legitimate and capable on and off ramps. There'll be just over 300,000 new coins arriving per year and around 90% of all coins will have been mined.

In that 7-9 years a whole quarter of all the supply that'll ever be was mined. That final 10% will take 120 years to arrive.

Of course prices are much higher than back then but there was no such thing as institutional money, there'll be many times more people getting involved and education about it was vastly lower.

[harshalone]

I am thinking of purchasing some bitcoins which platform I can use? I am in united kingdom. also is their a pro tradder whom I can follow and replicate my investment?

[gentlemand]

I am thinking of purchasing some bitcoins which platform I can use? I am in united kingdom. also is their a pro tradder whom I can follow and replicate my investment?

I would go with Kraken or Coinbase. Both are long established and have faster payments for GBP now. Coinbase Pro, Coinbase's exchange, has lower fees than Coinbase

There are a million people out there claiming to be pro traders. It's impossible to tell who's an idiot and who's any good, and even the best wind up failing at some point. Most people would be better off buying and holding. If you do decide you want to trade spend a lot of time researching first. Don't jump straight into it.

[Greatdev]

My advice is never take unnecessary risks because of the upcoming halving, there will be lots of FOMO and whales might decide to dump on you all, I sold my Bitcoin at 10k a day ago and buy back at 9700$ now Bitcoin is at 8700$, I never expected that quick dump, I guess whales are already at work

[20kevin20]

Not instantly but it'll be a cumulative thing that sneaks up.

When you think about it, the whole time we've been here an absolute mountain of coins have been pouring on to the scene every day. It's the norm. It's what we've grown used to and I'm sure most people don't take the time to think it over or question it. We've always talked about 'fixed supplies' when we've been up to our necks in new coins needing disposing of.

This'll be the first glimmer of a future where coins won't have a giant bill attached to them from mining and if you want a large number of them there won't be a totally dependable and willing seller. Up until now it's been over half a million new coins arriving per year. In the past it's been several million. As that fades away that's going to have humongous effects and people have rarely pondered the massive dilution that's taken place so far. When it's on its way out they certainly will.

True. I have nothing to say against your words, I like the way you think. To be honest, I've been constantly aware of the fixed supply and decreased inflation but I always ignored it until recently. Regrets or not, the key point is that I'm now demanding BTC as I'm one of those starting to see how financially hard it's getting to gather even half a coin (especially when you live in a country with much lower wages than developed ones) - getting to the exact point you're trying to make.

[KiloFoxtrot]

My advice is never take unnecessary risks because of the upcoming halving, there will be lots of FOMO and whales might decide to dump on you all, I sold my Bitcoin at 10k a day ago and buy back at 9700$ now Bitcoin is at 8700$, I never expected that quick dump, I guess whales are already at work

And that's pretty much what's happening at this point now isn't? It seems that the whales always have all the fun! But this is basically what we're expecting to happen, it's always been volatile. This halving is a bit tricky though, a lot of other factors are into play right now to consider.

[MrcMrc]

Interesting perspectives and insights you guys are providing.

I am hopeful that it does happen after the halving. I am not in a rush to sell and I'm planning to buy some just before the halving.

I really appreciate this.

It is good not to sell for now but as well have all seen now, it is very possible that bitcoin may fall in price but its price increasing is very certain but we need to make sure we are not affected during the price fall if possible it will occur.

[Onuohakk]

This is not the time to exaggerate how this year's halving will be like. Previous halving that occurred, we saw how it all went. This year's halving won't be an exception to that. Trade when you supposed to and be patient enough to wait

[Negotiation]

We can easily analyze the history of Bitcoin but no one can give an exact figure of how much it will cost half of its events  We have to wait and see No one can say when prices will go up and down. However, if we invest now, we can make a lot of profit in the upcoming events It is likely to surpass half the event by the end of this year Positive thinking and patience will wait.

[Mpamaegbu]

I like the way the OP chronicled the whole Bitcoin price from start to the present moment. It gives Bitcoin a proper perspective for newcomers. Need I also mention that 2017 was my grand entry into this industry. I saw a lot of spikes and volatility but sadly didn't even know how to pull a profitable trade. I saw projects go up and I also saw them crash and vanish totally. It was the year a lot people screamed "bubble bubble". It's a wonder no one calls Bitcoin a bubble any more 😁

[KiloFoxtrot]

Interesting perspectives and insights you guys are providing.

I am hopeful that it does happen after the halving. I am not in a rush to sell and I'm planning to buy some just before the halving.

I really appreciate this.

It is good not to sell for now but as well have all seen now, it is very possible that bitcoin may fall in price but its price increasing is very certain but we need to make sure we are not affected during the price fall if possible it will occur.

Yes, I learned this type of lesson very well before already and I'm now more in a position not to succumb to that previous financial situation that I had before wherein I was limited with my options, thus leaving me no choice but to succumb to the pressure of selling instead rather than waiting for the bull to come back again.