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Author Topic: Did bitcoin lose its value?  (Read 617 times)
livingfree
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October 18, 2020, 08:04:45 PM
 #21

The price of bitcoin didn't move much? I advise to check all the charts starting from January 2020 up to this moment. You will see how much is the movement of bitcoin and how good we are in the situation of bitcoin despite the pandemic.

The value of bitcoin is still precious, defining the price of bitcoin and its value, I didn't see any less effect of it because of pandemic and the printing of more dollars in US' economy.
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October 19, 2020, 12:10:39 AM
 #22

So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.
There's no way we should consider the current state of Bitcoin as having lost its value when we view it from the prism of its present price. If anything, it gained value. It's a pandemic at hand at the moment, yet the price keeps soaring and more users get added on its network from patronage. Take a perusal of fiat standing against Bitcoin, dollar and pounds inclusive, and you will observe that from $3,500 in February-March this year to well over $11,000 now shows value addition to Bitcoin. It's value that causes demand; and demand paves way for price increase. And this is what is happening with Bitcoin. Technically, for me, Bitcoin has gained more value than all fiat at this time.
Increasing price doest not mean more users are adding to the network.
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October 19, 2020, 02:40:43 AM
 #23

No, of course not. The value of Bitcoin remains intact. It has always been appreciated as a revolutionary technology which provides a lot of things never ever provided by the traditional financial system.

What changes at all times, however, is the demand. There are times when the demand rises and there are also times when the demand falls. There are times when the demand is just as high as the supply which makes the price more or less stagnant. That's the life of a publicly traded good. But that does not mean the value is lost.





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October 19, 2020, 02:50:08 AM
 #24

 i didnt knew that its possible for usd to decreased its value in a dramatic way because i knew usd was a verry stable currency  .

you mean the price of the items were affected because of the inflation caused by printing so much money  ? but what is the relation of btc to them , its a war between real world assets . bitcoin do looses its value all the time but it was caused by a different phenomenon or events but btc didnt loose its value ( not value or price ) but its importance to people but it will just grow all over  .

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October 19, 2020, 02:59:53 AM
 #25

No of course seeing the bitcoin market price as of the moment seems going good actually. For the information especially to those who are new here that bitcoin has really no value it just had when people are buying bitcoin which is being peg or back uo by the currency they used to buy the bitcoin. This is why bitcoin has no stable value and it is highly volatile depending in the market for bitcoin.  But bitcoin wll never going to end for many do like to invest in it even if they are living in a country wherr bitcoin is ban for them. Still they secretly manage to own and trade bitcoin in discreet manner.

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October 19, 2020, 05:38:11 AM
 #26

Bitcoin has not lost its value and we can all see that.
Imagine a newcomer to this site reading your article.
He has doubts about buying bitcoins!
But as we know, bitcoin has a lot of power and I think its value is increasing day by day. Cool

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October 19, 2020, 05:52:21 AM
 #27

The price being stagnant doesn't automatically equate to it losing value. Doesn't that mean that the various currencies that have been stagnant actually has no value at all? I guess you could say that Bitcoin would only lose its value once the demand for it is all gone, but with it being described as a currency, it is unlikely to happen. And additionally, there's no need to correlate USD and Bitcoin imo, they don't have much of a relation aside from being both currencies.

Additionally, you also said about the Fed printing money to address the pandemic, but Bitcoin did not do that. The supply currently being mined right now is just a part of the program that was set up in the beginning, and even with the pandemic or not, said process would still continue on.

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October 19, 2020, 06:21:56 AM
 #28

with bitcoin you never know what happen next. I would say, I'm biased surely because I would be here and my reasoning for this is simple. BTC price drops more over 50% since it's ATH price. This mean something big will have to happen, and this time more interest in bitcoin as more retail and more institution are coming into that make me bullish.
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October 19, 2020, 06:42:16 AM
 #29

Although 2020 is not over yet, this year has been very good for Bitcoin at the moment. To understand this, it is enough to study the dynamics of its price movement since March. It tripled its course and confidently maintains it for a long time.

So it has clearly not lost its value.
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October 19, 2020, 06:51:13 AM
 #30

it is to admit any possibility it comes to that moment, who knows exactly. But I don't think it would go that moment easily without a reason that it push through. The growing number of users, countries who support, the adoption that we have now, and in the future will hold that particular sentiments. It drop its value but for sure it will turn back high again.

Digital currency is our future and surely the demand will increase together with price that makes less possible that Bitcoin price will drop to $1 again.

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October 19, 2020, 06:52:50 AM
 #31

It seems to me that you are confusing two different concepts: value proposition of bitcoin and price of bitcoin. Bitcoin price may fluctuate significantly due to instability of demand, but it doesn't necessarily mean the value of bitcoin will behave the same way as its price. Unlike the price, the value proposition of bitcoin remains almost the same. Value proposition is basically what bitcoin can offer to its users: censorship resistance, sovereignty, cheap and fast payments, etc. The higher people value its characteristics, the higher it grows in price. If bitcoin loses in price, it will attract more buyers who are aware of its valuable characteristics. If bitcoin loses in value, if it no longer has something valuable to offer, its price will go to zero, no people will want to buy it.

Did bitcoin lose its value? No, it didn't. Instead, it has been proving its value for more than a decade.

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October 19, 2020, 09:23:13 AM
 #32

Bitcoin doesn't lose its value, and in Covid today. 2 Assets that become a value protector are Bitcoin and Gold. Many people avoid fiat and equity. During this pandemic period, Bitcoin and Gold showed fantastic performance compared to other investment products that weakened because of Covid-19. Bitcoin prices were recorded through 11,300 US dollars on a few days ago. That means a more than twice the increase since the beginning of 2020.
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October 19, 2020, 10:18:52 AM
 #33

All these years there were numerous debate about the same topic but whereever it loses its value Bitcoin has always bounce back stronger, I don't think BTC will ever be worthless but we will see always similar debates during every dump. Since most of the people who potrays BTC in negative light are the ones who have very little knowledge about crypto.
Yes I agree with you on this matter, maybe a lot has been discussed about this issue but in my opinion something like this is not a problem and when BTC goes down it shows BTC wants to be pumped because it is very natural to see BTC go down and of course BTC will come back for the price. So when BTC goes down don't ever panic and don't ever think that BTC will lose its value, because when you think like that, you need to learn more about observing the crypto market, especially BTC.
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October 19, 2020, 12:33:38 PM
 #34

     There may be a lot of causes as to why the price or the value of bitcoin may rise or decrease momentarily. The corona pandemic is one byt its effects on bitcoin may not be as bad as what it may seems. Because during thus desperate times is when people would go out of their comfort zones just to find ways to preserve assets. Which is why they would most likely be open for investments such as bitcoins and other stuff. Which is a positive thing for the industry.

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October 19, 2020, 12:45:15 PM
 #35

I no think so.... Bitcoin not only pair with USD/T but bitcoin have more pair. And fluctuation value i think this is a normal condition, because they have supply and demand.

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October 19, 2020, 12:56:49 PM
 #36

No, during this era of pandemic Bitcoin has surprised most of us by performing better than it did last year. Bitcoin's price is not relational to the price or performance of USD but rather USD is just a common calculative unit to calculate the value of Bitcoin. If we look at movement graph of Bitcoin then you will realise it's not losing value but rather inching towards one more bullrun which looks inevitable so we need to compare the real-time data to understand the market instead of suggestions and recommendations.

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October 19, 2020, 01:18:23 PM
 #37

As the crypto market is not stable the exact future of Bitcoin cannot be predicted no one can say when the market will turn the value of Bitcoin can not be lost. It takes patience and time for Bitcoin to start rising again even if the price of many profitable currencies falls. You are right that 2020 is not over yet Bitcoin is likely to be pumped by the end of this year demand for Bitcoin has doubled since the current market situation.
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October 19, 2020, 01:31:03 PM
 #38

I really do not think so. During the pandemic (When everyone was at home), I think bitcoin was fine. A lot of people got to know bitcoin due to the stay at home policy. In other words, we had more investors. In fact, bitcoin's price crash at the early stage of the pandemic, but surprisingly skyrocketed when the pandemic was getting worse. This was not the same case for dollar; so they do not move together.

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October 19, 2020, 01:58:57 PM
 #39

Last few months there may be bitcoin losing its value but at the moment it's very stable and looking very strong. Bitcoin is about the first and widely most known digital currency in use and this momentum will continue. For long terms Bitcoin is very bullish so BTC can be good investment.
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October 19, 2020, 03:14:22 PM
 #40

No, of course not. The value of Bitcoin remains intact. It has always been appreciated as a revolutionary technology which provides a lot of things never ever provided by the traditional financial system.

What changes at all times, however, is the demand. There are times when the demand rises and there are also times when the demand falls. There are times when the demand is just as high as the supply which makes the price more or less stagnant. That's the life of a publicly traded good. But that does not mean the value is lost.
I might disagree when people say bitcoin will lose its value. There are many supporting factor why bitcoin will not lose its value.

  • Bitcoin is a tradable asset. As long as traders are still trading bitcoin, I wouldn't think the price would go away. Volatility will continue but is not considered a market failure.
  • Bitcoin is used as currency. In some countries, bitcoin has been accepted as the legal currency to pay for goods or services. I've even heard that bitcoin can also be used to pay taxes like Switzerland, the US and Ohio.
  • Bitcoin adoption in gambling. People can use bitcoin for gambling because bitcoin is a currency. Bitcoin really help gambler maintain privacy without having to deal with bank. Every day I think there are lot of new gambling site being launched which accept bitcoin as their bet payment. This will increase the use of bitcoin and I think the price will not go away.

Actually there are many other factor that need to be added, but I think the three factor above are enough to strengthen the argument that bitcoin will not lose its value.

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Live Games

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Slots
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Blackjack
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Roulette
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Dice Duels
..Play Now..
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