how in the world is btc at $12.303,28?

[Vishnu.Reang]

Reminds me of the spike we had in 2016, immediately after the block reward halving. This time also, the spike has started a few months after the block reward halving event. And if the same trend continues, then by the end of 2021, we have a new ATH. To remind everyone, the prices increased from $200 per coin to around $900 per coin in 2016, and the next year it further went up from $900 to $20,000.

Just like what others say,

History repeats itself. What we are experiencing right now is what also happened before. Though, the price is not the same, but how it moves in the market is really the same. If this really continues to become the same as what we have experienced before, then the new ath will really come.

I have a feeling that the liquidity is much lower than what everyone is expecting. Else why should the prices rise every time after the block reward halving? It looks to me that a scarcity in the demand has been created in the market, as a result of less coins being freshly mined. And this in turn is disrupting the demand-supply equilibrium, and thereby pushing the prices upward.

[7788bitcoin]

how in the world is btc at $12.303,28?

Is you booze business going to suffer because the price of bitcoin is rising  .
Wait for the blood bath calculation, if you are long as the accounts says these things are not surprising
The citation is given below from your other thread .

Now wait till people start dumping cryptos and stocks ...then the blood bath starts ...
I think i am going to start a cheap booze/liquor biz   as 1929 is back ...

Nobody is using their btc to buy goods/services ,i know do to fact i am accepting btc and no clients via btc this month ...zero orders via btc. No real liquidity ..people are just hording.

Who cares if people are hording and there is no order in your bucket shop. The market will move higher as long as there is demand and people are investing in it.
 

Well if you guys say  bitcoin is a "investment" good luck with it...i am out of btc world ...as bitcoin is no longer a currency .

No one is forcing anyone to stay and invest in bitcoin. Your account is from 2014 and it looks like you have not seen these things in the past or were you in a comma during that time .

[imstillthebest]

you offering your service as what we see on your sig ? did you accept clients but they dont use thier btc ? or you mean you dont recieve clients at all  . they arent the same  . dont you know that i do use my btc , not only me but my friends as well .  you wont tell that if people use thier btc or not just by basing on your orders  .

btc is still a currency and that wont change no matter what people do with thier btc .

[meanwords]

how in the world is btc at $12.303,28?

https://coinmarketcap.com/currencies/bitcoin/

there is nothing ,absolutely nothing to make btc from technical point worth so much ...

Nobody is using their btc to buy goods/services ,i know do to fact i am accepting btc and no clients via btc this month ...zero orders via btc. No real liquidity ..people are just hording.

I really hope i am not right about what i think it is as we will see btc worth 1-2 usd

And ethereum at $429,87 ....

Are people that stupid to forget that in March btc was at  8000 usd and eth  was at 130 usd .... ?

-------------------------------------------------------------

Well if you guys say  bitcoin is a "investment" good luck with it...i am out of btc world ...as bitcoin is no longer a currency .

Bitcoin is actually being used as a payment for commodities and services in the Philippines (I personally use it). There's also a case of DeFi having a lot of attentions due to the fact that it is helping a lot of people cope with the pandemic. Also, the hype of ETH 2.0 probably helped pump Bitcoin to this price. Not only that, a lot of pro-Bitcoin countries are regulating Bitcoin, for example this and this.

[Reid]

First, it was jobs and then different negative threads.
Yeah, I have seen your threads and all I can see is a pessimistic view of everything.
Dude, not everything revolves just for you.

There are so many ways the price of bitcoin could be pumped. In fact, we cannot even pinpoint where it is coming from. Right?
Ethereum? Yeah, I support that project too and in fact, I use it more because of the cheap tx fee.
But, I won't even know the existence of Ethereum without Bitcoin. Have you ever wondered if others walk the same path I did? I bet there are many of them.

[cryptomaniac_xxx]

Reminds me of the spike we had in 2016, immediately after the block reward halving. This time also, the spike has started a few months after the block reward halving event. And if the same trend continues, then by the end of 2021, we have a new ATH. To remind everyone, the prices increased from $200 per coin to around $900 per coin in 2016, and the next year it further went up from $900 to $20,000.

And it also reminds us of many negative people back then, even since the beginning of bitcoin, and yet they really missed the boat while others become millionaires by 2017. I know one personally, just spoke to him a couple of days ago in facebook. Now he envy his office mates who became millionaires now, Lol.

So this cycle will continue, and when we hits another ATH, we will see what they are going to say then. There are a lot of used for bitcoin, specially in third world countries or those who are under a oppressive regime.

[DoublerHunter]

^ The fact that you say, "Nobody is using their btc to buy goods/services" makes it "The Fact" that you are not checking the goods and services section?
Are you aware that most of the trusted campaign managers are paid via BTC with the service they offer?
Nevertheless, if you want to have clients make sure that your marketing skills are enough to attract sure clients and for record hoarding is the best skill eventually.

[DaveF]

how in the world is btc at $12.303,28?

https://coinmarketcap.com/currencies/bitcoin/

there is nothing ,absolutely nothing to make btc from technical point worth so much ...

Nobody is using their btc to buy goods/services ,i know do to fact i am accepting btc and no clients via btc this month ...zero orders via btc. No real liquidity ..people are just hording.

I really hope i am not right about what i think it is as we will see btc worth 1-2 usd

And ethereum at $429,87 ....

Are people that stupid to forget that in March btc was at  8000 usd and eth  was at 130 usd .... ?

-------------------------------------------------------------

Well if you guys say  bitcoin is a "investment" good luck with it...i am out of btc world ...as bitcoin is no longer a currency .

Well, it's probably you / your goods or services. There are plenty of people spending BTC on plenty of things.
Our sales have been staying at the same % of crypto vs fiat through the last 20 months.

Much like any other thing, if it's not for you that's fine. But to say it's not worth it from a "technical point" just shows ignorance of what technical point means.
If I have 1BTC and someone is willing to give me something that they feel is worth $12,300 for it then to them it's worth $12,300 nothing else matters.

If I feel I am better off keeping the 1BTC because I feel it will be worth more later then nothing else matters.

Once large numbers of people feel that way with something then that's how much that thing is worth.

Same with gold. Same with anything.

-Dave

[philipma1957]

Hi man, I'm starting to think you are a troll.

Of course bitcoin is not used a lot to buy goods and services. The point is that it is the best reserve of value in the world. Until recently, the best reserve of value was gold and some people think gold is better than bitcoin because it has been a store of value for thousands of years, while bitcoin is only 12 years old.

But try to escape to another country with a million dollars in bitcoin and then try it with a million dollars in gold as well. Then you come and tell us the difference.

You can move your money using eth,ltc or any other crypto ...that does not justify the increase in price of a crypto

When price of something increases means that there is more demand for that thing ...

How much demand can it be for crypto if there is no liquidity ... has zero use beside speculation,gambling,and money laundering .

I f..king build bitcoin and eth trading platforms ...when you build a trading platform then call me a troll ...

What i am saying is that it is false demand and some jerks are pumping the price ... question is how ? How is manipulating the crypto market ... ?

@ spy100

you are wrong on many levels. Here are some reasons why I think you are wrong.
 A) there is not much of these laying around
 B) if the FUD of the 2020 USA election increases both the left and the right that have money will want coins in case the other side wins the election.
 C) BTC asic mining has the ability to turn power into wealth  this means anyone with cheap power can become wealthy with btc.

Here is an example for letter c I know of a home for sale in NJ it has 10 acres and a rentable fixed up home. The rent would carry the sale price of 320k along with the taxes.

price is 320k

It has solar  and it has a 300 foot long chicken coop that could hold 200kwatt in solar panels. the power company does not let you hook that up to the grid unless you have a demand. Enter mining you spend some money on used asics to mine btc. Power company sees the demand lets you build the solar array.

BTC asic gear created this opportunity it is a real legit business plan that would work for the right investor.

D) world wide governments are printing a lot of money due to covid. Only 21million btc is going to be printed so it is rare.

E) Many commercial freezers in the USA are shut down due to covid shutdowns. Many warehouses prepaid 1,2,3 years of power to run those freezers. They rented them to restaurants meat suppliers etc.  So you now have a lot of prepaid power contracts. Here comes asic mining to the rescue. Since BTC is the easiest coin to exchange and has a ton of shutdown asic gear. It Naturally is used as first choice.

F) BTC is small. $225,743,585,119.00 this is not a lot of money. It comes to under 800 a USA citizen 333million x 800 = 266,400,000,000

The USA government gave away 400,000,000,000 incentive money and more then 500,000,000,000 in extra unemployment this year due to covid

that is over 900 billion compared to 225 billion.  
what does this mean a lot of wealth can be transferred to BTC and it is happening due to Covid fears and USA 2020 election fears.
people consider it to be more secure then eth  as eth is centrally run by 1 guy.

While I mention the USA giving away 900+ billion many other countries are doing the same thing. Many people fear fiat or cash may drop its value world wide.
So flight to BTC is happening.

[ChiBitCTy]

Truth is you don’t know what you’re talking about. I personally use bitcoin all the time to pay for things. Also, technically bitcoin isn’t an investment, it’s a currency.  If Ethereum was so great it would be more popular.

[freedomgo]

I'm glad to see some anti bitcoin since I've been seeing a lot of posters bullish on bitcoin so far.
This make my day, $1 usd to $2 usd, are you kidding?

I'm not surprised either but I'm also glad too because there are lots of anti bitcoin out there, he's an eth fan, but OP forgot that without the existence of bitcoin ethereum will be be no where to be found, perhaps OP might have forgotten that bitcoin had reached $20k previously, I don't know why he's surprised at just $12k+, bitcoin is more adopted than eth, bitcoin Atm worldwide is increasing daily, expecting bitcoin to go down to a dollar? Like seriously? I'm short of words dude

I guess OP is hoping bitcoin to drop that low because he is looking for an opportunity to fill his bags, lol..
Bitcoin ain't going down that low, best opportunity to accumulate bitcoin has already passed, and that is when bitcoin dump early this year.

We can check the YTD graph (https://coinmarketcap.com/currencies/bitcoin/),and we can see that bitcoin dropped $5k this year, that's the only opportunity for accumulation so far if one is investing for short term.

[Kez1817]

The value of bitcoin is not just when you can use it to buy goods and services. There are other things which is more than using it for payments. Before end of this year you become amazed if bitcoin price will reach again new ATH. Well,there is nothing wrong if you choose other digital currency to invest over bitcoin because we have a freedom to choose what we want. Bitcoin,ethereum,xrp,ltc,doge whatever....invest at your own risk.

[lepbagong]

what has happened to bitcoin is a blessing for those who hold it, if you don't hold it, that is because you can't enjoy what has happened with bitcoin.
Let those who have held bitcoin for a long time now enjoy what has happened. I myself can only pay attention because I also do not have.

[BrewMaster]

a better question is why is a shitcoin that is fully centralized and is riddled with lots of bugs and is called ethereum is still alive if not for the pump and dumps they keep doing.

otherwise a currency such as bitcoin that is used by lots of people to buy lots of things every day is very undervalued at $12k price. literary millions of dollars worth of merchandise is being purchased using bitcoin every day.

[thesmallgod]

It is like you do not study the previous bull runs. If the price of bitcoin can continue to increase during this period that every country is complaining of the hardship due to the pandemic then you should have known the rise in price is another form of manipulation. Check the cryptowhale on twitter and collect the statistics of stablecoin that are being minted and those transfer to the exchange platform, especially Binance and Huobi, then you will understand where the pump is coming from even though the transaction fee is getting high.

[wxa7115]

Hi man, I'm starting to think you are a troll.

Of course bitcoin is not used a lot to buy goods and services. The point is that it is the best reserve of value in the world. Until recently, the best reserve of value was gold and some people think gold is better than bitcoin because it has been a store of value for thousands of years, while bitcoin is only 12 years old.

But try to escape to another country with a million dollars in bitcoin and then try it with a million dollars in gold as well. Then you come and tell us the difference.

You can move your money using eth,ltc or any other crypto ...that does not justify the increase in price of a crypto

When price of something increases means that there is more demand for that thing ...

How much demand can it be for crypto if there is no liquidity ... has zero use beside speculation,gambling,and money laundering .

I f..king build bitcoin and eth trading platforms ...when you build a trading platform then call me a troll ...

What i am saying is that it is false demand and some jerks are pumping the price ... question is how ? How is manipulating the crypto market ... ?

It seems to me that you concentrate too much on the why and the how things happen instead of concentrating yourself in what is happening? The short term fluctuations of bitcoin do not really have to make a lot of sense and this is true not only for bitcoin but for any asset, if for whatever reason you do not like it then you can stay out of it, you are not obliged to participate in it.

For what I can see in your posts history this is a tendency in you, stop worrying about the things that you do not control because it doesn't matter what you think bitcoin is going to continue to move according to the supply and demand and if people keep buying bitcoin for a price above 12000 then that is their choice.

[hulla]

how in the world is btc at $12.303,28?

https://coinmarketcap.com/currencies/bitcoin/

there is nothing ,absolutely nothing to make btc from technical point worth so much ...

Nobody is using their btc to buy goods/services ,i know do to fact i am accepting btc and no clients via btc this month ...zero orders via btc. No real liquidity ..people are just hording.

You seem not to understand that there are some market trend no technical analysis will see or know what actually cause. Besides, people are holding while the whales are accumulating more crypto and I will advise you to join whales alert so you can informed about whales buys/sells.

Welcome to the crypto world !

I really hope i am not right about what i think it is as we will see btc worth 1-2 usd

And ethereum at $429,87 ....

Even Vitalik will never expect such situations occur.

Are people that stupid to forget that in March btc was at  8000 usd and eth  was at 130 usd .... ?

They are not stupid but after bitcoin halving bullish market is expected.

Well if you guys say  bitcoin is a "investment" good luck with it...i am out of btc world ...as bitcoin is no longer a currency .

Bitcoin is a currency and also an investment but just because youre merchant or have a store where you accept bitcoin as payment and none of clients pay with bitcoin doesn't mean bitcoin shouldn't surge above $11K cause thats a sign that people choose to hold than spend it mind you the price of the market depend on the level of market demand and supply.

[NotFuzzyWarm]

how in the world is btc at $12.303,28?
https://coinmarketcap.com/currencies/bitcoin/

there is nothing ,absolutely nothing to make btc from technical point worth so much ...

- In case you missed the news:-

https://www.zerohedge.com/crypto/usps-just-filed-patent-blockchain-based-secure-voting-system

The USPS Just Filed A Patent For A Blockchain-Based Secure-Voting System

- My business is dead without btc, I'm totally dependent on it. I can't send one $ out of my country.

Key word in the USPS voting patent is blockchain. That does not mean it has anything to do with the BTC blockchain and no doubt will be using a privately ran network chain that is contracted by the government. As such, it has zero bearing on BTC value and usage.

[sana54210]

Bitcoin does make this incredible big moves higher levels time to time and that is what matters right now, to make it go above and make it stick there for a while.

I am glad that bitcoin actually moved to higher levels, I have been wanting for it to move that way for a while but it was stuck at around 11.7k or so range for the longest time, before that it was around 9.5k range and stuck there, if the price sticks above 12k levels and not go down and stay there, that means price would probably go higher once again and make it to higher levels, that is what matters right now, will it go down with a correction or will it be stuck at 12k+ price like it was stuck with the other prices? I don't know which one will happen but I do want price go higher eventually.

[STT]

Speculation can raise BTC but also the decline in dollar has some part of it.   I'm interested in the OP business and relevant sector to crypto, if your product is digital and people dont want to use BTC at all then Iam surprised but I really need to see the original context to fully consider your point.   The obvious counter is dollar is also digital and still convenient especially if your customers have dollar then why not, where as a global audience might more easily use BTC.   I take your general point that BTC business has not risen enough, likely you are correct and alot is anticipated but not yet occuring.