This is why bitcoin HAS to go up

[Charles-Tim]

They just keep printing more papers and devaluing their own currency Cheesy, this will definitely cause fomo, the  price of btc at $15000+ looks so strong, people just keep buying more, and nobody is dumping, who knows it might just hit the ATH before the end of the year.

Fiat are just not deflationary currerencies, they are the opposite. Over a long time, the price of fiat do depreciate, and beyond normal in underdeveloped and developing countries. African countries can be used as examples where fiat do over-depreciate. But, bitcoin is definitely not the same, it is truly deflationary in nature over long term period. Bitcoin can have price fluctuations which many people do use to think bitcoin is risky, although, it is risky but over a long time period,the price of bitcoin will only definitely have a net gain.

[electronicash]

They just keep printing more papers and devaluing their own currency Cheesy, this will definitely cause fomo, the  price of btc at $15000+ looks so strong, people just keep buying more, and nobody is dumping, who knows it might just hit the ATH before the end of the year.

Fiat are just not deflationary currerencies, they are the opposite. Over a long time, the price of fiat do depreciate, and beyond normal in underdeveloped and developing countries. African countries can be used as examples where fiat do over-depreciate. But, bitcoin is definitely not the same, it is truly deflationary in nature over long term period. Bitcoin can have price fluctuations which many people do use to think bitcoin is risky, although, it is risky but over a long time period,the price of bitcoin will only definitely have a net gain.

countries very where in the world are just printing their money not just for purpose of providing stimulus package to  run the economy. they are also just printing to lessen their debts and the more they  devalue their money the lesser their debts are going to be.  to prevent this from happening  the other countries will do the same.

the ground where they can't devalue any currency is BTC, they might as well just buy BTC and treat BTC as reserve instead.

[jaysabi]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

History is littered with people looking at a complex situation in only two dimensions and thinking they cracked the code and identified a “sure bet.” It doesn’t always blow up in their face, but it sure is satisfying when it does. 

[ChrisPop]

I haven't realised that so much dollars have been printed this year. 20% of the amount in circulation is insanely high.

Anyway even with a big inflation Bitcoin is still marching a lot of yards. It is obvious that institutions and companies now look at Bitcoin as at an 2-in-1 asset. It does not only act as a hedge against the inflation, but also appreciates in value due to its scarcity and early stage in adoption.

[Dragonfund]

We have seen bitcoin outbreak and trading a new all time, yet we keep tarnishing traditional assets because of their underlying failure and incompetent with the economical situations that's coupled with inflation, this has driven some set of people to create something valuable as digital instruments or digital assets as some people may have called it but have we ask the question about crypto volatility, will majority of investors stay glue to Bitcoin if it's having a yearly return of %10?
Most of not all in bitcoin don't really care about adoption we have today but their money and how it's can be double, triple within short period of time and cash out to fiat to continue enjoy their life in the outside world. 

[AndySt]

We have seen bitcoin outbreak and trading a new all time, yet we keep tarnishing traditional assets because of their underlying failure and incompetent with the economical situations that's coupled with inflation, this has driven some set of people to create something valuable as digital instruments or digital assets as some people may have called it but have we ask the question about crypto volatility, will majority of investors stay glue to Bitcoin if it's having a yearly return of %10?
Most of not all in bitcoin don't really care about adoption we have today but their money and how it's can be double, triple within short period of time and cash out to fiat to continue enjoy their life in the outside world.  

The funny thing is that the outside world is quite successfully embedding bitcoin in its structure and bitcoin is gradually becoming one of these traditional assets, losing its revolutionary essence as a counterweight to traditional Fiat monetary relations and becoming one of the hedging tools for risks in the global economy like gold I think that in the next few years, the annual yield of 10 percent of bitcoin is not threatened, so to talk about such topics is unpromising due to the unrealistic nature of this scenario.

[South Park]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

History is littered with people looking at a complex situation in only two dimensions and thinking they cracked the code and identified a “sure bet.” It doesn’t always blow up in their face, but it sure is satisfying when it does. 

The economy is said to be really complex but it is not, it is in fact simple, if the money supply increases then sooner or later the costs of products and services will go up as well in the same proportion and in some cases in an even larger proportion than inflation, not only the price of bitcoin is going up everything is going up in price as well as governments keep printing money, what happens is that governments can manipulate the markets thanks to their money printing tactics and they can somewhat disguise this effect but it was clear as day that the price of bitcoin will go up as governments kept printing money.

[Latviand]

Too much money is printed while economic activities are stalled by disease and they have to be diverted to reserve channels. Bitcoin, stocks and gold have all risen together this year. I think if Donald Trump continues to be president of the United States, then the value of Bitcoin will be pumped up even more. He will continue to urge the Fed to print more money and release it to the market.

Trump is really a good President for US when you only aim about the progress of cryptocurrency in your country.

He is really a good leader when it comes to pushing the economy to rise and recover again.

Printing money is really his one of the ways on how he will sustain and overcome economic crisis in the market. Cryptocurrency is one of his priority compared to Biden that he don't really care about bitcoin.

[AicecreaME]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

On contrary to what you've stated, I think one of the reasons why bitcoin's price increases is because of its supply and demand. The limited supply for bitcoin will keep its value going up as many investors are now eyeing on it. Once the supply runs out, given that there are just limited number of bitcoins existing, the value of bitcoin will surely increase. Investors are putting their money on cryptocurrencies which are promising particularly bitcoin during this pandemic since the Federal Reserve placed the interest rates near zero and is expected to keep it that way few more years which results to weakening the fiat currency - dollar.

Weakening of dollar is one of another reason why bitcoin has been booming up. Bitcoin has been usually compared to dollar currency, and depreciation of the latter results to bitcoin hitting a high record value since the last time its price soared high. It won't change ths fact that bitcoin is volatile, therefore risky if you invest on it without proper knowlegde. It's price may pump for now, but it doesn't guarantee that it won't crash soon enough.

[jaberwock]

The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

Yes, those that are setting the price of Bitcoin have to rely on some factors to determine what’s the right price for the asset. Since it’s being compared to the US dollar, it’s definitely going to be one of the things that goes into consideration when they are about determining the price, and just as you have said, as one depreciates, the other will appreciate.

Then another thing they will consider is the supply and demand, before now we have been expecting that the supply will be reduced because of the Halving, and that halving has taken place and the rate of supply has been shortened. And we have also seen more interest in Bitcoin coming from big investors, the demand have increased due to more interest, while the supply has gone down. So for sure it’s definitely going up.

[Mauser]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

On contrary to what you've stated, I think one of the reasons why bitcoin's price increases is because of its supply and demand. The limited supply for bitcoin will keep its value going up as many investors are now eyeing on it. Once the supply runs out, given that there are just limited number of bitcoins existing, the value of bitcoin will surely increase. Investors are putting their money on cryptocurrencies which are promising particularly bitcoin during this pandemic since the Federal Reserve placed the interest rates near zero and is expected to keep it that way few more years which results to weakening the fiat currency - dollar.

Weakening of dollar is one of another reason why bitcoin has been booming up. Bitcoin has been usually compared to dollar currency, and depreciation of the latter results to bitcoin hitting a high record value since the last time its price soared high. It won't change ths fact that bitcoin is volatile, therefore risky if you invest on it without proper knowlegde. It's price may pump for now, but it doesn't guarantee that it won't crash soon enough.

I fully agree with you. On my opinion the biggest drivers of the bitcoin price is supply and demand. We a know that supply for bitcoins is fixed. There is a hard cap in place and we only mine fixed number of coins ok the future. Also due halving the long term price is upwards because the mining costs are more or less fixed due to electricity prices. It won't really get cheaper on the future. On the other side demand is expected to rise.

[Princejebs]

All this money printing will bring much more people in our industry. The more dollars printed the less dollars value

Are you also saying the more usdt printed, the more lower of coins we will likely see in the future. Usdt is minting thousands and millions without been by back by anything, fail audition and none has be done again for transparency. The day regulations body will want to to do something about this movement, the market wouldn't be funny including stable coin.

[BigBoy89]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

You are right, the dollar hit the lowest level since 2018 to a basket of other fiats and I guess the down rally will continue with the new 2trn bill signed a couple of days ago.

Printing machines are working on 1000% and the dollar will lose even more value in the next couple of months or more.

[so98nn]

Also, increased price of bitcoin has attracted more customer base which means it will automatically receive more money flow inwards. This over the time gonna make bitcoin look like giant àsset which would be non-compete kind. What I mean is, there won't be any asset like gold, diamonds, or even old antic art which is priceless. Bitcoin itself will have so much power to attract more and more pips each year that it will cost more and more day by day. That's what we want anyways. :-)

Bitcoin has to go up for many other reasons too like, its the need of new era where we want an asset which can hold huge value in its "bits" unit and be able to transact swiftly.  

[RealMalatesta]

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year.

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

You are right, the dollar hit the lowest level since 2018 to a basket of other fiats and I guess the down rally will continue with the new 2trn bill signed a couple of days ago.

Printing machines are working on 1000% and the dollar will lose even more value in the next couple of months or more.

The interesting part about all of this, USA says there is not a big inflation right now in the nation. You look at the costs of things and prices of regular foods for example, it doesn't look like there is much inflation, maybe it will take into affect later on?

Well my idea is that, if you print countless amount of money, and give that to companies who will just show profits bigger and bigger which means shareholders will use their own money (not government given) to buy more of it to increase the price, there isn't really anything that should increase the store good prices there is it? I mean you can tie it together somehow, but money wasn't given to regular people, and the amount of money given to citizens were funny small, so it wasn't really that much change on inflation, all because it was given to corporations. That is at least my guess.

[South Park]

Also, increased price of bitcoin has attracted more customer base which means it will automatically receive more money flow inwards. This over the time gonna make bitcoin look like giant àsset which would be non-compete kind. What I mean is, there won't be any asset like gold, diamonds, or even old antic art which is priceless. Bitcoin itself will have so much power to attract more and more pips each year that it will cost more and more day by day. That's what we want anyways. :-)

Bitcoin has to go up for many other reasons too like, its the need of new era where we want an asset which can hold huge value in its "bits" unit and be able to transact swiftly.  

The only bad thing about that is that as we know those people are only going to come to this market in order to obtain profits and while there is nothing wrong with that as soon as the price of bitcoin shows any weakness they are going to get out of the market as fast as they came which means the price could go down even faster than it has gone up, and unfortunately the bigger the price the bigger the drop and the longer it will take bitcoin to recover the trust of people once again.

[Argoo]

Bitcoin is drastically high this time around due to large amounts of volume and usage globally

I think Op can be right about the devaluation of dollar having effect on the price of bitcoin. Dollar is a major converting currency for bitcoin and price or strength of dollar has been dropping either because of the fomo in the election, this is affecting the price of bitcoin as it is increasing since the beginning of the election and the direction of the results create more fear.

All state currencies have some annual inflation and it is included in their budgets every year. That is, the common currency of states is systematically and inevitably depreciating. This is used by governments to manipulate all kinds of social benefits so that the numbers remain the same or even increase, but in fact their volume has decreased. Therefore, not only bitcoin, but all promising decentralized cryptocurrencies should rise in value due to this process. This should come up strongly during the global economic crisis.

[FlightyPouch]

Bitcoin has reached its new ATH just two days after 2021 and it's a good sign that this year will be big for bitcoin and adoption is going strong indeed. I have a feeling that this year will be good to crypto currencies and for sure alternatives coins will also be the year to it.

We don't know that. It is true that the price rose to another ATH this year but we can't just identify the whole year's movement with what we are seeing right now. A year is a long time for Bitcoin as we all know it for its volatility, it can dump and pump for a short period of time. I am not against bitcoin, it is just that we never know what will happen.