Bitcoin performance in first half of 2020

[ethereumhunter]

Bitcoin did not perform very badly at the beginning of 2020. In the beginning it was in fairly good condition. Hopefully the end of Bitcoin 2020 will be like 2017. So far it is in a good place. It remains to be seen what the end of 2020 will look like.

Although bitcoin has a good performance, we are seeing bitcoin price is too volatile right now. The price is up and down every day without we know what will happen tomorrow. Actually, that will be good for us if we can analyze the bitcoin market so we can find when we can enter the market and buy bitcoin. These situations need us to analyze deeper than usual because bitcoin can go down or up in the next hours. But we hope that in a few weeks later or months, the bitcoin price can move to the higher price.

[1714263306]

1714263306

[iv4n]

Bitcoin did not perform very badly at the beginning of 2020. In the beginning it was in fairly good condition. Hopefully the end of Bitcoin 2020 will be like 2017. So far it is in a good place. It remains to be seen what the end of 2020 will look like.

Although bitcoin has a good performance, we are seeing bitcoin price is too volatile right now. The price is up and down every day without we know what will happen tomorrow. Actually, that will be good for us if we can analyze the bitcoin market so we can find when we can enter the market and buy bitcoin. These situations need us to analyze deeper than usual because bitcoin can go down or up in the next hours. But we hope that in a few weeks later or months, the bitcoin price can move to the higher price.

I don't remember we ever had stable price, bitcoin price fluctuate all the time, the difference is in the range of those fluctuations. If you wish to earn from those daily fluctuations you can try to analyze the market, or you can try any other approach that can help you in predicting the next bitcoin move, and earn from that.
Many opinions in this topic, I think that comes from peoples expectation. Who expected more is not satisfied with this year performance until now, who didn't expect much are satisfied with current price. Traders like traders they enjoy volatility and who is skilled trader probably makes profit every day!

[RealMalatesta]

Well, let's be honest first half of 2020 was insane for everything, not just crypto but general finances and economies, not just economy but health, not just health and politics, basically first half of 2020 was one of the worse and weirdest halves of any year I can remember in my life. The lack of "store of value" would work in longer term, which means if there is something that causes banks to collapse, bitcoin would go up, if there is something that causes real estate go down, bitcoin would go up, if there is anything that makes tech bubble burst, bitcoin will go up.

However if there is something that destroys the WHOLE economy, bitcoin can't swim against that, we get affected as well and there is really not that many ways we can recover from it better than any other place neither.

[exstasie]

"Bitcoin failed to live to its image of being the ‘Digital Gold’ and a safe haven for traditional market investors" -- even gold itself crashed on the same day, if we're being fair. Not as badly, but it suffered all the same, and recovered to pre crash levels in almost exact 30 days after.

Bitcoin, on the other hand, needed under 60 days to recover to pre-crash levels, so yeah, it's not exactly gold, but it bears the same remarkable recovery and resilience I'd say.

Gold did recover quickly, and I think one of the reasons was that the lockdowns shut down some of the world's biggest mines and smelters. That cut off a lot of supply.

Anyway, I don't see the pandemic or the March crash as a test of BTC or gold's safe haven status. The March crash was a liquidity event, a rush to cash. That's the true safe haven and it's where whales like Warren Buffett are still waiting out the storm. If things turn south (let's say mass lockdowns get implemented again) I see the same thing happening again. Gold and BTC will get dumped just like stocks.

Gold (and probably BTC too) are not that interesting as hedges against recession. They are much more interesting as hedges against inflation.

[stadus]

The market for altcoins might change int he 2nd half of this year if the ETH 2.0 will be successfully launch.
I know there's no definite date yet as Vitalik has not confirm the launch date, but people are already speculating and they want it sooner since they have been waiting for too long. When ETH dump, the rest or most of the altcoins lose its value, so maybe ETH would be the answer to bring back the bullish market for alts.

So many tokens are relying on Ethereum update and price and you are right when you posted the launch date of POS will have an impact on the price of altcoins but we all know Vitalik he is very unpredictable, maybe he'll just surprise everybody with an announcement, market is still in standstill but I like the market now, than when the pandemic started.

That market looks stable and we can tell that we have survive the effect of the pandemic which was the sudden crash.
Stocks fall while bitcoin is quite healthy, I think this would attract investors in the long run if the recession will come.

Initially, it was confirmed to be July, but I don't know if they can hit that target, ....<snip>...

Actually it was not confirm,  (https://www.coindesk.com/vitalik-buterin-clarifies-remarks-on-expected-launch-date-of-eth-2-0)

When reached by CoinDesk on Tuesday, Buterin offered a statement:

“I re-listened to the interview. The question indeed contained ‘July’, I don’t recall hearing ‘July’ so it sounds like it’s my fault for mishearing. Apologies for that,” Buterin said via email. “My actual stance is that eth2 is ‘on track’ in that there aren’t any unexpected bumps in the road, testnets are coming along, etc, but I defer to the client devs on timelines and if they are now saying ‘Q3’ more broadly then I believe them.”

[ethereumhunter]

Although bitcoin has a good performance, we are seeing bitcoin price is too volatile right now. The price is up and down every day without we know what will happen tomorrow. Actually, that will be good for us if we can analyze the bitcoin market so we can find when we can enter the market and buy bitcoin. These situations need us to analyze deeper than usual because bitcoin can go down or up in the next hours. But we hope that in a few weeks later or months, the bitcoin price can move to the higher price.

I don't remember we ever had stable price, bitcoin price fluctuate all the time, the difference is in the range of those fluctuations. If you wish to earn from those daily fluctuations you can try to analyze the market, or you can try any other approach that can help you in predicting the next bitcoin move, and earn from that.
Many opinions in this topic, I think that comes from peoples expectation. Who expected more is not satisfied with this year performance until now, who didn't expect much are satisfied with current price. Traders like traders they enjoy volatility and who is skilled trader probably makes profit every day!

If bitcoin price can stay at $9,000-$9,2000, that will be a stable position because the price is not going up or down too far. And although the price still fluctuates, the price does not change too much. I don't analyze the bitcoin market every day, but I only check the price 3 times a day, and if somehow, I feel that I can enter the market, I will analyze more to find out the time for me to buy or sell. I still enjoy the bitcoin fluctuating of the price, and I know that is what will happen every day.

[buwaytress]

Gold did recover quickly, and I think one of the reasons was that the lockdowns shut down some of the world's biggest mines and smelters. That cut off a lot of supply.

Anyway, I don't see the pandemic or the March crash as a test of BTC or gold's safe haven status. The March crash was a liquidity event, a rush to cash. That's the true safe haven and it's where whales like Warren Buffett are still waiting out the storm. If things turn south (let's say mass lockdowns get implemented again) I see the same thing happening again. Gold and BTC will get dumped just like stocks.

Gold (and probably BTC too) are not that interesting as hedges against recession. They are much more interesting as hedges against inflation.

Couldn't agree more, and I think the full blowback from Covid-19 + Global economic downturn + unemployment actually hasn't arrived yet. Cash is being pumped, stocks, money put into people's hands... but when the band aids aren't coming fast enough, we'll see another dump and gold and bitcoin and stocks will follow the same merry trail.

[davis196]

I can't agree that 2020 has been a "roller coaster ride" for Bitcoin.What about 2013,2017 or 2018?
Every year,the Bitcoin price is in "roller coaster" mode due to the volatile nature of Bitcoin.2020 is no different than the previous years.Bitcoin is going just fine and I hope that next year,we will be hitting the moon.
This sub-forum is about Bitcoin price speculations.You should put the article part about altcoins in the Altcoin discussion forum.

[bitgolden]

I never really understood why gold and bitcoin went down though. I mean I get that stock markets would go down, because let's face it the pandemic hurt the companies and everyone's work and people were at home all day and night and nobody spent money or worked or even got fired. So, I understand stock market going down.

However, I can't understand how the hell gold and bitcoin went down? We are talking about basically having a whole level of something new that caused devaluation with money, a ton of (trillions) of money printed, and gold/bitcoin duo should have gone up because of it. I guess it was just market panic, I can't see any other reason to be fair and I am sure it will get better and better but I really hope that whenever something economically bad ever happens again, we will not get this much low with gold/bitcoin but instead go up.