Shadow of Destruction over Bitcoin

[mr_ROBOTT]

Bitcoin needs new investors, those who know the price of bitcoin is  18,000 $, not 10,000, 8,000 and 7,000,
so every once in a while we will see such fears and emotional sales that buyers simply and cheaply Insignificant refuse to sell their capital.



Profits were saved in the range of 17,500 to 18,500 by sellers, and the fear of falling subsided with this correction.
When I first bought Bitcoin, it was priced at $ 3,200, and the fundamentals and technicalities of Bitcoin were extremely negative, and the shadow of destruction faded over Bitcoin.
Bitcoin has survived those days, and with the reversal of these losses, they are like a joke. Good luck.

[cryptoaddictchie]

That's how a very famous and known bitcoin survive this long. More and more people got interested in the long run. I know there are times bitcoin is so down and no one noticing and claiming it as scam investment. But here they are again fomoing to the hype of bull run. So when this go down again they will always have something to say and it's normal cause people always depend on the result of the investment they made especially if the output is bad one.

Bitcoin ATH is close and if this break this will marked a new history for blockchain again. So hang tight, who knows when this will hit.

[hd49728]

Bitcoin is different than fiat or shit altcoins. Bitcoin is not printed or minted from the air. Total supply is fixed and block rewards are halved every four years.

Cost for power bills and mining infrastructures (setup, maintenance, etc.) are high. Demand on bitcoin is rising and adoption too. Price will rise and fall as the very normal market actions but there will be no destruction on bitcoin. Never. Bitcoin is not fiat.

[Lorence.xD]

Bitcoin is different than fiat or shit altcoins. Bitcoin is not printed or minted from the air. Total supply is fixed and block rewards are halved every four years.

Cost for power bills and mining infrastructures (setup, maintenance, etc.) are high. Demand on bitcoin is rising and adoption too. Price will rise and fall as the very normal market actions but there will be no destruction on bitcoin. Never. Bitcoin is not fiat.

There is a possibility that a crash might happen in the long term. If the number of people buying outweighs the number of people selling in biblical proportions, I do think that it will reach a plateau and in turn discourage buyers because there is no profit if you buy because of the plateau which leads to price plummet. Although this pattern was only seen in stock market crashes, it can happen to the bitcoin market.

[GreatArkansas]

I believe that for those investors that is looking for long term investment in Bitcoin, for them it will not matter the price of Bitcoin now.
There are lot of research, like technical analysis for price of Bitcoin of Bitcoin in the future, it is shown like we can still a huge X returns for Bitcoin.
For day traders or short term investments, these price levels for them really matter.

[Anonylz]

Something doesn't add up in this btc price scenario, when price keep rising like what we are currently witnessing now, people are afraid and complain about where it is heading and what the future holds when the price goes extremely high,
When the price is down like previous months, people complain and afraid the end of btc is near, price fluctuation is another reason for generating concerns among investors,
Where do we expect the price to be that will satisfy people or give assurance of btc future 

[bittraffic]

When the price dip down to $3,200 I have already doubted that it might just go back to less than $1000. But then it started to green again.

The crypto bear market started without yet the covid19 pandemic. Its amazing how BTC price increased instead while the virus are killing and businesses are closing down. BTC had proven to be one of the most trusted asset after all the disaster.

[davis196]

Dude,your title is really misleading and a total clickbait.I was expecting you to come up with an actual theory about the upcoming destruction of Bitcoin.Instead of that,you are just writing about panic selling and your personal experience.I'm glad that you discovered Bitcoin in a darker period,when many people were hating on BTC,but Bitcoin has proven it's resistance and many FUDsters had to admit that BTC is here to stay.
With the BTC price going up,I feel that less investors will join and buy BTC,because of the fears that the price might go down,after reaching a new ATH.This is perfectly fine and only the investors that have patience will eventually take the biggest profits.

[Alucard1]

Long term investment would always be the best option for earning a huge amount of money, when the price of the bitcoin goes $3900 before, I wasn't able to invest because of being lack of money, I want to invest that time but unfortunately, I don't have extra money because I lost my job that time because of the pandemic, I am thinking, how much money I already earned if I was able to invest when the price of the bitcoin reach that $3900 and now with $18000 that is already 500% up total income.

[Kakmakr]

There are still a lot of FUD being distributed to create Fear with potential investors in Bitcoin. I spoke to a Streamer on Saturday and he did not want to invest in Bitcoin or any other Crypto currency, because he was focused on all the negative FUD that was out there. (I just gave him some facts and also resources to verify what I was saying and left him to make up his own mind)

People should not be too focused on the Bitcoin price, because Bitcoin is not actually supposed to be an investment option... it's primary function is actually to be a currency.    (The currency with the highest volatility in the world currently) 

[TGD]

When the price dip down to $3,200 I have already doubted that it might just go back to less than $1000. But then it started to green again.

The crypto bear market started without yet the covid19 pandemic. Its amazing how BTC price increased instead while the virus are killing and businesses are closing down. BTC had proven to be one of the most trusted asset after all the disaster.

FYI only, Bitcoin price collapse same time during the global stock market collapse due to economy crisis created by COVID-19 pandemic. Maybe COVID-19 still didn't reached your country that time global market and BTC collapse but for the record, They both collapse almost same time. BTC just too fast to recover but still almost 50% down that time. I lose too much money on leverage trading that time that's why I will never forget about that event.

[Smartprofit]

When the price dip down to $3,200 I have already doubted that it might just go back to less than $1000. But then it started to green again.

The crypto bear market started without yet the covid19 pandemic. Its amazing how BTC price increased instead while the virus are killing and businesses are closing down. BTC had proven to be one of the most trusted asset after all the disaster.

Why is the price of bitcoin rising? 

Bitcoin price is expressed in US dollars. 

What is the impact of the Covid-19 pandemic on the US dollar?  Negative influence.  Unemployment is on the rise and small businesses are facing challenges.  For stimulating measures to support the economy, additional emission of US dollars is required. 

What is the impact of the Covid-19 pandemic on Bitcoin?  Neutral influence.  The pandemic did not affect the performance of Bitcoin in any way, there are no failures in the operation of its network. 

The Internet is another matter.  Internet problems will have a very negative impact on Bitcoin.

If the impact of Covid-19 on the US dollar is negative and the impact of Covid-19 on Bitcoin is neutral, then this means that the price of Bitcoin will rise relative to the price of the US dollar.

[Fundamentals Of]

There are always new Bitcoin investors every single day. We do not lack Bitcoin investors. The good thing right now is that the new Bitcoin investors are not retail or small time investors. They are the wealthy investors of the world who have now finally realized and are now convinced of the value of Bitcoin especially in the future. We are now reading news of the world's billionaires investing a certain percentage of their worth in Bitcoin. That is a nice sign of Bitcoin confidence.

[stompix]

Unemployment is on the rise

No, it is not, it's decreasing quite a lot from the first month of the crisis, once all restrictions will be lifted it will come back again to normal levels.

What is the impact of the Covid-19 pandemic on Bitcoin?  Neutral influence.  The pandemic did not affect the performance of Bitcoin in any way, there are no failures in the operation of its network. 

You missed the March dumped, didn't you?

If the impact of Covid-19 on the US dollar is negative and the impact of Covid-19 on Bitcoin is neutral, then this means that the price of Bitcoin will rise relative to the price of the US dollar.

If only things will be that easy, first, the dollar is doing pretty well compared to a lot of other currencies, then comes the interesting part..If indeed the dollar would be crashing, unemployment would be on the rise, the business would go bankrupt as you are saying, where is the money that is pumping bitcoins price and buying all the mined coins every day coming from?  And second, when this flow of money dries up since you're saying the situation is deteriorating, how would bitcoin manage to keep its value? So, at least one thing is wrong in your theory.

Bitcoin is not printed or minted from the air. Total supply is fixed and block rewards are halved every four years.

That doesn't change the fact that 900 bitcoins worth 17 million $ are created every day and somebody must buy just to keep the price at those levels.

[Fesatmas]

That's how a very famous and known bitcoin survive this long. More and more people got interested in the long run. I know there are times bitcoin is so down and no one noticing and claiming it as scam investment. But here they are again fomoing to the hype of bull run. So when this go down again they will always have something to say and it's normal cause people always depend on the result of the investment they made especially if the output is bad one.

Bitcoin ATH is close and if this break this will marked a new history for blockchain again. So hang tight, who knows when this will hit.

Yes, that's right, I think Bitcoin will continue to stick around over time. as long as investors continue to manage their finances by converting and buying bitcoin and miners are constantly growing using sophisticated tools. being the driving force of the trading system on every exchange, so bitcoin remains a major force. become the center of market development.

[Smartprofit]

Unemployment is on the rise

No, it is not, it's decreasing quite a lot from the first month of the crisis, once all restrictions will be lifted it will come back again to normal levels.

What is the impact of the Covid-19 pandemic on Bitcoin?  Neutral influence.  The pandemic did not affect the performance of Bitcoin in any way, there are no failures in the operation of its network. 

You missed the March dumped, didn't you?

If the impact of Covid-19 on the US dollar is negative and the impact of Covid-19 on Bitcoin is neutral, then this means that the price of Bitcoin will rise relative to the price of the US dollar.

If only things will be that easy, first, the dollar is doing pretty well compared to a lot of other currencies, then comes the interesting part..If indeed the dollar would be crashing, unemployment would be on the rise, the business would go bankrupt as you are saying, where is the money that is pumping bitcoins price and buying all the mined coins every day coming from?  And second, when this flow of money dries up since you're saying the situation is deteriorating, how would bitcoin manage to keep its value? So, at least one thing is wrong in your theory.

Bitcoin is not printed or minted from the air. Total supply is fixed and block rewards are halved every four years.

That doesn't change the fact that 900 bitcoins worth 17 million $ are created every day and somebody must buy just to keep the price at those levels.

Yes, that's right, bitcoin prices collapsed in March. 

However, did this affect the network Bitcoin?  Or maybe the total number of coins has increased?  No, actually nothing has changed. 

Margin trading and panic are to blame for the March events. 

The situation with the US dollar (as well as with the currencies of other countries) is much worse.  Additional coins have appeared (and continue to appear) on the market.  The number of dollars (yuan, euro, rubles, pounds sterling, hryvnia, etc.) in the world has increased. 

If all this money supply hits the consumer market, it will be a disaster.

I think this is why we are seeing an explosive rise in the stock market and a rise in the price of Bitcoin.  In this situation, 900 bitcoins a day will be easily bought back by investors who are worried about the prospects for hyperinflation.

[ChrisPop]

Bitcoin needs new investors, those who know the price of bitcoin is  18,000 $, not 10,000, 8,000 and 7,000,
so every once in a while we will see such fears and emotional sales that buyers simply and cheaply Insignificant refuse to sell their capital.

Grayscale and other big funds are buying at these prices. We saw that in the news. There are your investors - institutional investors. The retail traders will have less and less power on the market as the big money has already started to come in. However I'm sure there are soem retail traders out there who have the buying power of a fund or a big company.

[Silberman]

I believe that for those investors that is looking for long term investment in Bitcoin, for them it will not matter the price of Bitcoin now.
There are lot of research, like technical analysis for price of Bitcoin of Bitcoin in the future, it is shown like we can still a huge X returns for Bitcoin.
For day traders or short term investments, these price levels for them really matter.

While it is true that if you are interested in investing in bitcoin for the long term most likely there is not going to be a big difference if you buy it at 18k or 17k at the same time institutional investors are not going to want to enter the market when they believe the current price of bitcoin is overvalued, this is why we saw a lot of news of institutional investors coming to the market when the price was below 10k, but now that the price is very close to the ATH we do not see many of those news anymore, and it is understandable because if they wait for bitcoin to crash then they can get a lot of bitcoin for a very low price, and in the future the difference between buying at the current price and buying at a very cheap price after a correction or even a crash will be significant.

[Walterhank]

Yep, you are right! Bitcoin has gone through various difficult situations but it managed to survive and will continue to do so. Now it is at the stage to surpass the market caps of the major companies.

[AmoreJaz]

I believe that for those investors that is looking for long term investment in Bitcoin, for them it will not matter the price of Bitcoin now.
There are lot of research, like technical analysis for price of Bitcoin of Bitcoin in the future, it is shown like we can still a huge X returns for Bitcoin.
For day traders or short term investments, these price levels for them really matter.

While it is true that if you are interested in investing in bitcoin for the long term most likely there is not going to be a big difference if you buy it at 18k or 17k at the same time institutional investors are not going to want to enter the market when they believe the current price of bitcoin is overvalued, this is why we saw a lot of news of institutional investors coming to the market when the price was below 10k, but now that the price is very close to the ATH we do not see many of those news anymore, and it is understandable because if they wait for bitcoin to crash then they can get a lot of bitcoin for a very low price, and in the future the difference between buying at the current price and buying at a very cheap price after a correction or even a crash will be significant.

i think this statement is not true anymore as we've seen in the news that financial institutions are still buying bitcoin even when it was at $21k level like the MicroStrategy who bought another $650M worth of BTC which stated from the article that they bought it at average price of $21925. guess, there are still others out there silently buying their BTC stash, even now that we are almost in the 25k mark.
and another thing, XRP is in chaos right now owed to the SEC lawsuit, a lot of companies are now starting to liquidate their XRP assets to other crypto assets like bitcoin, of course.