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[mk4]

In case of an economic collapse the stock market is the first thing that crashes and then other domino falls. Thus to have a safer side a person should always hedge some of his money in crypto in order to have rainy day funds, as mostly it is seen that the crypto market used to rise when the stock market fall. Also when there was change in laws in China about capitalism in end of 2017 the Chinese stock market wasn't performing well, but guess what the bitcoin price rose tremendously back then reaching the ATH and that too in only a couple of months.

Yea, because when an economic collapse happens and a lot more people lose their jobs and don't have much to eat the best thing for them to do is to invest in a speculative asset; assuming people have money to invest in the first place. In the first place, we don't even know how bitcoin will do in an economic collapse. It's still very likely for bitcoin to go down along with everything.

[STT]

its more then doubled from the lows, thats enough excitement for this year seems to be the message now.   Its gone to sleep over the summer and be glad its not fallen just idle.    A rocket requires preparation and fuel and those conditions are not there to call that except by wild hopes.

Its in a slow decline by my reckoning, once again its slipped below 50 day average like its thin ice.   I dont find this encouragement to the upside, lower highs and multiple failure to hold some standard of momentum makes me think it tests lower mostly.   So far it hasnt done more then bob up and down again, theres no reasonable call to say rocket from here not in a stable way anyhow.

[Maslate]

Bitcoin will skyrocket on its time, we can't predict it when because it's very unpredictable.
Let's look back the last bull run, we didn't expect that so we don't see it coming, but of course the FOMO happens and the price skyrocketed, which does not have a good result for the overall market performance since we underdog a long correction and the project struggles especially the altcoins market.

I think more adoption would help the market to grow but to skyrocket, this is something not gonna happen easily unless people are again will to ride the FOMO and the economy will recover.

[Kelvinid]

I feel someone curse the price not to move high and nobody could stop it. So what we do now is to wait for that person to let go...

What I was trying to say is that we can make the market move as we wanted and so the entire market as well. The price moves according to the market demand and we find it that it wasn't that it looks like. The people now are just holding their money rather than investing. The situation is really not good and that is how it affects the price trend. But the price isn't mattered by now, the most important is we even stay at high even though in the hard situation.

[pooya87]

the reason is pretty simple and it has nothing to do with stock market, corona virus,... it is simply because bitcoin is not a pump and dump shitcoin so you can't expect it to just "get pumped" (aka skyrocket) for no reason.
i'd say it has been growing reasonably well for the past 2.5 years. keep in mind that you have to look at the long term changes not the short term and not the bubbles. ever since 2017 bitcoin has been growing in adoption (and after the bubble burst ended) in price too. not to mention that in many ways it has even "skyrocketed" when you look at the rise from $3,200 to $10,000.

[YOSHIE]

Hello ...!

It takes a process to determine something to be successful, especially for the price of Bitcoin this year, after halving occurs.

The process is not the same as in 2017, at that time everything was controlled both about the global economy, the world, society and crypto.
Different story (halving) this time in 2020, especially on crypto, the effect of the plague is the main thing to affect all this, many people are thinking about their own destiny, if everything is under control the world is as normal as it isfirst, BTC will reveal its true identity.
So, be patient for all that, nothing is impossible, anything can happen to Bitcoin to come, from prices up to down.

[stompix]

I think he went all in when the price was near ATH, so he's been waiting since 2018

Neah, he got hired this spring to try and promote that service with articles around here, I doubt he is even an investor, the account is used only for opening topics and he doesn't bother to respond to them, anyone really concerns with the fact the market is not going in the right direction wouldn't just stand on the side all the time.

You still think that Bitcoins price is still not skyrocketed? It already skyrocketed for the guy that bought a pizza with Bitcoin.

Oh god!!!!!!,  again with the Laszlo, I wonder how the guy feels knowing he will be remembered as "the pizza guy"!
Based on that if the price drops tomorrow to 1$ it will still be good for those guys as it is still x200 higher than at that time, would you still say that the price has skyrocketed?

[Febo]

When examining the issue of BTC’s current lack of price action, it is worth pointing out that if one were to look at the currency’s value movements at this exact point following its 2016 halving cycle, it would become quite apparent that the asset was behaving pretty much in the same way as it is now. In fact, it was a year and a half after its 2016 halving, around mid-December 2017, that BTC proceeded to reach its all-time high value of around $20,000.

Because of more people "knew" about halving, price was higher prior to halving. Then covid-19 economic problems come and put a bit more reality to Bitcoins price. And then halving come. So I believe if we compare prices we are right now about at the same range. Yes we are. Price of Bitcoin was around $600, so half of previous ATH at autumn 2016, few months after halving.

[ethereumhunter]

When examining the issue of BTC’s current lack of price action, it is worth pointing out that if one were to look at the currency’s value movements at this exact point following its 2016 halving cycle, it would become quite apparent that the asset was behaving pretty much in the same way as it is now. In fact, it was a year and a half after its 2016 halving, around mid-December 2017, that BTC proceeded to reach its all-time high value of around $20,000.

Because of more people "knew" about halving, price was higher prior to halving. Then covid-19 economic problems come and put a bit more reality to Bitcoins price. And then halving come. So I believe if we compare prices we are right now about at the same range. Yes we are. Price of Bitcoin was around $600, so half of previous ATH at autumn 2016, few months after halving.

Right. We are still facing the Covid-19 problem around the world, and the number of infected people still increases in many countries, so people are still trying to figure out how to save their lives first. After the situation can slowly back to a new normal, I think the bitcoin price will start to increase, but first, the price will be back to $10k and the next high price. Bitcoin needs more time to grow, and it will happen in one night, so he needs to have more patience to see bitcoin price to start increasing.

[bitgolden]

Well, price has skyrocketed from that time around to today? So yes, if the price is 1 dollars each bitcoin, that would be 10 thousand dollars for that pizza which is still quite skyrocketing prices as you might imagine. Now did it skyrocketed in the past 1 year? Of course not, and if it drops to 1 dollars that means it dropped significantly and there must be something wrong with bitcoin, that would be super bad, yet at the same time that doesn't mean that the price "didn't" skyrocketed for that pizza dude neither.

We should learn about how there is a difference between skyrocketed recently, and skyrocketed since "x" period of time. This is one of those situations and you just have to take a look at when does the starting point is to today when talking about skyrocketing.

[adzino]

Let us just focus on the ending part where you say that the bitcoin has been mirroring the price of stock markets. When the price of stock market started to drop, bitcoin also started to drop. And through this one event the whole article came to a conclusion that the investors now perceive bitcoin as "unusable" and not worth investing. Not sure if the article was based on the writers own opinion or if the writer actually interviewed a lot of investors before writing this whole article.
Though its a good thing now the investors don't "perceive" bitcoin as a stable investment. At least now they know that there are risks involved when investing in it (like all other investment). As for the dropping of the price, many investors started to dump the coin because they thought that bitcoin will also follow the same fate as the stock market. Haven't you noticed that bitcoin actually recovered faster than the stocks?

[ololajulo]

If you really believe in the cycle and got the closest comparison of 2016, then we can have more discussion after the cycle for the bull when it reaches and we didn't see anything but am expecting surprises at your expected completion of the cycle. Bitcoin is not meant to be out-rightly predictable, the bull might come early or very well later than 2021 but we are going to see some tickle in at the time of the cycle.

[bitbunnny]

the reason is pretty simple and it has nothing to do with stock market, corona virus,... it is simply because bitcoin is not a pump and dump shitcoin so you can't expect it to just "get pumped" (aka skyrocket) for no reason.
i'd say it has been growing reasonably well for the past 2.5 years. keep in mind that you have to look at the long term changes not the short term and not the bubbles. ever since 2017 bitcoin has been growing in adoption (and after the bubble burst ended) in price too. not to mention that in many ways it has even "skyrocketed" when you look at the rise from $3,200 to $10,000.

That is all true but many users still think that Bitcoin price moves according to their wishes and without a reason.
Many also thought that halving would be a trigger for big price rise but that didn't happen and now they are disappointed, looking the reasons for that in corona pandemic and similar. They also forgot that halving could have caused the price fall as well. Although the Bitcoin price is quite decent many are still not satisfied.

[KTChampions]

So?

If you are looking at BTC just as an investment to earn more money (FIAT), you do have the wrong intention in mind.
I don't care if the price skyrockets or not.

BTC will at least preserve your value, which can't be said about FIAT currencies. That's more than enough incentive to hold and use BTC.

Good point. In addition, it should be noted that against the backdrop of global problems, bitcoin behaves quite confidently, not as many holders predicted, but no worse than many other assets. It will be interesting to look at its behavior after the crisis is over.

[inanilujimi]

why ask as if it must happen.
The crypto market is not only predictable from history, but there are many supporting factors that can make the price of bitcoin the hope of everyone.
if you are in doubt I suggest not entering this volatile market.

[Yamifoud]

So much saying why it won't? Why the price remains at $9k? Why does the market turn like this? It is never hard to accept reality, and we already know the situation things that we can't deny how it affects the market. Besides, not only the crypto market suffered for this but also in the real stock market.

We can never fix this until the crisis declines. We have to wait for a few more days to see it back to move high. There is no magic in the market, either we like it or not, the market remains like this for quite sometimes. So better not to ask "why Bitcoin's price hasn't skyrocketed yet? Because we can hold that thing to happen as it also depends on the situation.

[Ridwan Fauzi]

Need more time I guess, although there are a lot of prediction which stated that bitcoin price will reach new all time high like $100.000, $200.000 and $300.000 in a few years ahead but it is not guarantee. You can't expect that bitcoin could reach that price since we are always face many thing in the proccess to reach it, most likely in regulation factor.

Moreover, many people have known bitcoin and its price movement even the crash that has happened in 2018 maybe has made many people afraid to buy bitcoin. But we have to thinking that the supply of bitcoin is limited it means there always many chance if bitcoin is trusted again by most people then we will see new all time high. We just need to convince another people to still love bitcoin and tempting to have it.

[carlfebz2]

So much saying why it won't? Why the price remains at $9k? Why does the market turn like this? It is never hard to accept reality, and we already know the situation things that we can't deny how it affects the market. Besides, not only the crypto market suffered for this but also in the real stock market.

We can never fix this until the crisis declines. We have to wait for a few more days to see it back to move high. There is no magic in the market, either we like it or not, the market remains like this for quite sometimes. So better not to ask "why Bitcoin's price hasn't skyrocketed yet? Because we can hold that thing to happen as it also depends on the situation.

Im not really that a fan of tagging things up from traditional markets or economic thing towards crypto market. We can say that there might be connection but not all the time.

We have seen that markets we've known are declining but here on this place we have seen the different movement.It might be somewhat stagnant for a long time but

this isnt something new that we have seen in the past. Anticipating bitcoins price to skyrocket will just eventually a stress burden for anyone.

[Hypnosis00]

Not really the moment has come for Bitcoin to make another high. The current momentum show stability in the crypto prices, I don't know how the pandemic situation brought something to this bust most likely it affects the trend. However, though we can't see its surging price but look at its price for the past weeks, it still in good shape things that we can't be worried about.

Moving forward, Bitcoin adoption has to get stronger now. Though we can't see it is skyrocketed at this time but not in a way that we live like this forever. There is a perfect time for that, and I believe it to come sooner, we all just be positive for that will only help us to at ease than to worry.

[TitanGEL]

Not really the moment has come for Bitcoin to make another high. The current momentum show stability in the crypto prices, I don't know how the pandemic situation brought something to this bust most likely it affects the trend. However, though we can't see its surging price but look at its price for the past weeks, it still in good shape things that we can't be worried about.

Moving forward, Bitcoin adoption has to get stronger now. Though we can't see it is skyrocketed at this time but not in a way that we live like this forever. There is a perfect time for that, and I believe it to come sooner, we all just be positive for that will only help us to at ease than to worry.

The market lose its upward momentum and that is why it is doing sideways while creating lowers lows and lower highs. The trend of bitcoin is sideways so expect that the price will consolidate more. The 20 moving average and 50 moving average are resisting to the current price, if the there will be a breakout in this dynamic resistance there is a high chance of a rally but there is a resistance $10,000. The current RSI is now showing weakness because it is also showing lower lows and lower highs. There is also a resistance there at 50 so I expect that it will bounce.