The problem is that it could take again many years to recover

[Tekunda]

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

[Lucius]

I would expect a post like this from a complete beginner, but not from someone who has been a member of the forum since 2017. The cryptocurrency market is not as stable as, say, the gold market, so everyone should accept sudden price changes and not start immediately with stories that a bear market is starting.

We are in less than 1 year after halving, and in a year when institutional players are entering huge amounts of money into Bitcoin, so the best is yet to come.  Consequently, all those who want a more cheap BTC do everything in their power to create fear, uncertainty, and doubt (FUD) and thus lower the price. Judging by the comments I read yesterday and today, they succeeded in that - so everywhere we have questions about how long the bear market will last - and we are in the middle of a bull market that has experienced only a minor correction.

Recover from what? So at the beginning of the year the price of 1 BTC was around $30 000 - who with a little common sense can say that $55 000+ is not more than a satisfactory price at the moment?

[velosepur]

Hi, I fully agree. Stable? Not yet, cos we need much more time to get that moment. Every of us need to be smart enough to expect anything. Market is workin on ups and downs. Economy rule. cheers, good luck.

[aoluain]

Again, an irrational comparison between 2017/2018 and 2021/2022. The two time frames
are different, there is a different mix of people involved now compared to 2017. As @Lucius
has commented there are institutional investors in Bitcoin now and in 2017 there were none.
Institutional investors for the most part are using Bitcoin as a hedge against inflation, they
are not thinking of selling Bitcoin back into the very thing they are escaping.

There are plenty of people who are predicting that there wont be a bear market.

[DooMAD]

it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

So?  It's not a get-rich-quick scheme.  Stop treating it like one.  The function and purpose of Bitcoin is of greater importance than the fiat value ascribed to bitcoins.  The network itself has no concept of your desires for arbitrary round numbers with lots of trailing zeroes.  That's not a priority.

[virtualdn]

Sell all your Bitcoins now and take this thought off your chest. All good things in life take patience, you can't get rich over night. I'm HODLing since 2013 and haven't cashed out a satoshi. Is it hard? Yes. Impossible? No.

[bosede1]

As I was reading this post and ponder on it, I try to understand what you meant by it could take forever before it recovers from your point of view because really I am not getting the point you wanted to prove even during the dump from 2018 till late 2020 I don't think the topic really covers for it.

[headingnorth]

Bitcoin is already bouncing back from the latest flash crash and took less than a day to begin to recover not many years lol. Bitcoin does this kind of correction practically every month so if you don't have the stomach for it you should not be putting your money into crypto, or putting your money into anything else for that matter because everything goes up and down including the stock market. Even the strongest stocks like Amazon, Tesla, Apple etc, has a major correction every once in a while but they always bounce back.

[Fundamentals Of]

If you think this is the way that Bitcoin is going to take then sell your Bitcoins and have a life away from it. But if you don't care to die before Bitcoin will reach $100,000, then leave your Bitcoins to your family. In that way, you are saved from all kinds of worries and anxieties that are obviously troubling you now. You seem to be very emotional and without patience. Bitcoin is not for you if this is how you react every time Bitcoin goes through a correction.

[arabspaceship123]

As investors you've got to accept cryptocurrency markets are troublesome so you've got to think hard before investing. When prices crash it shouldn't be too long before they get to record highs because it's a repetitive cycle. To save from losses it's a matter of trying to sell before the crash.

One thing we've regularly seen with cryptocurrencies is prices will drop so Bitcoin, Ethereum and the rest of them will be affected. They've all been pumped and dumped but after Bitcoin had the record high of $64800 this month it's going to be difficult for many people to cope if the crash devalues Bitcoin too much.

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

[yazher]

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

Don't worry whether they will gonna be alive when the price reaches that high. Just think of the possible earnings you can get when the price will fall back this coming days and you buy some BTC and wait for it to rise again. that will surely happen because of the strange phenomenon that happened in the BTC market where the price won't gonna fall to zero. there's always a way to rise back again especially right now when the big-time companies are linked to the bitcoin economy.

[tranthidung]

I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.

The market has its ups and downs. Every market has its own cyclical periodicity. Bitcoin has a four-years periodicity and others have theirs that are different than 4 years.

So should this be the major, expected drop, it could again take many years for BTC to reach 100k.

It will but when? In this year or 4 or 5 years later?

Many people will be dead before BTC will reach 1 mio.

Do you really think so? Never. In worst performance, bitcoin will reach $1 million after 3 or 4 more halving rounds. I believe it will happen sooner, in the next 1 or 2 halving rounds (in 2024 or 2028).

$100,000 for this year, $300,000 in 2024 or 2025, and $900,000 to $1 million in 2028 or 2029.

[virtualdn]

Considering Mastercard will accept BTC later this year and the fact that many investors will join aboard, personally I believe it will reach $200K per coin before the end of the year. $100K will be reached before the end of July. These are my personal predictions and shouldn't be taken for granted

[AmoreJaz]

If you think this is the way that Bitcoin is going to take then sell your Bitcoins and have a life away from it. But if you don't care to die before Bitcoin will reach $100,000, then leave your Bitcoins to your family. In that way, you are saved from all kinds of worries and anxieties that are obviously troubling you now. You seem to be very emotional and without patience. Bitcoin is not for you if this is how you react every time Bitcoin goes through a correction.

what more can i say? i dont know why some people think that bitcoin seems to be at the dead end, just because it has this kind of drop? and the price is still more than 50k, which i think he has only seen this year. but people are complaining when this situation occurs and conclude something negative. definitely, it will happen as correction is necessary in the market. guess, some people just want btc to increase forever. if they feel this market is causing them anxiety or distress, yeah, better get out and encash your btc  

[Tekunda]

I would expect a post like this from a complete beginner, but not from someone who has been a member of the forum since 2017. The cryptocurrency market is not as stable as, say, the gold market, so everyone should accept sudden price changes and not start immediately with stories that a bear market is starting.

We are in less than 1 year after halving, and in a year when institutional players are entering huge amounts of money into Bitcoin, so the best is yet to come.  Consequently, all those who want a more cheap BTC do everything in their power to create fear, uncertainty, and doubt (FUD) and thus lower the price. Judging by the comments I read yesterday and today, they succeeded in that - so everywhere we have questions about how long the bear market will last - and we are in the middle of a bull market that has experienced only a minor correction.

Recover from what? So at the beginning of the year the price of 1 BTC was around $30 000 - who with a little common sense can say that $55 000+ is not more than a satisfactory price at the moment?

I don't think it has to do with being naive, if I state that - should we have entered a bear market indeed - it might take many years for a recovery.
I joined this forum in 2017 at the height of the 2017 euphoria, only to see the drop to $3700 and a long recovery phase.
I don't know if this drop is just a correction,or if we experience the same as in 2017/2018, but if we have entered a bear market, we can expect to see the same picture we experienced from 2018-2021. That was all. Short phases of "bitcoin mania", interrupted by drawn out phases of recovery.
Yes, you and many here are correct, btc is more a "generational thing" than a get rich quick scheme. For that, if you are lucky, you have the altcoin market.

[Beparanf]

The difference was, A lot of big player such as billionaires, company and institutional investors are already involve in cryptomarket compared to 2017 bull run which is purely hype by influencers and some famous people like McAfee. The current market is supported by an organic volume and not by a bubble volume. You can notice that whenever there is a massive sell off, Bitcoin always manage to recover strong since it break the 20k ATH of 2017.

[Fundamentals Of]

If you think this is the way that Bitcoin is going to take then sell your Bitcoins and have a life away from it. But if you don't care to die before Bitcoin will reach $100,000, then leave your Bitcoins to your family. In that way, you are saved from all kinds of worries and anxieties that are obviously troubling you now. You seem to be very emotional and without patience. Bitcoin is not for you if this is how you react every time Bitcoin goes through a correction.

what more can i say? i dont know why some people think that bitcoin seems to be at the dead end, just because it has this kind of drop? and the price is still more than 50k, which i think he has only seen this year. but people are complaining when this situation occurs and conclude something negative. definitely, it will happen as correction is necessary in the market. guess, some people just want btc to increase forever. if they feel this market is causing them anxiety or distress, yeah, better get out and encash your btc  

People are extremely greedy. They seem to want Bitcoin to just increase forever no end. They seem to treat Bitcoin as a mere money making machine that should not stop giving them easy money. What the heck!

March started with Bitcoin at $45,000. We are still in April. There is a correction which pulled Bitcoin's price down to around $53,000 and someone is already talking of a major drop from which Bitcoin would take years to recover. Such a joke! A big correction at $53,000 is something we should even be thankful of.

[dkbit98]

Many people will be dead before BTC will reach 1 mio.

So what?
Around 100,000 people die every day worldwide and almost none of them are thinking about Bitcoin, bear market, recovery or reaching new all time high, and you don't have some crystal ball to predict anything about future.
Correction in Bitcoin is expected to happen at some point and everyone will know when it comes, but I don't think you have to worry about it since you are mostly active in altcoins since 2017.
Zoom out when you look at Bitcoin chart.

[Lucius]

I don't think it has to do with being naive, if I state that - should we have entered a bear market indeed - it might take many years for a recovery.
I joined this forum in 2017 at the height of the 2017 euphoria, only to see the drop to $3700 and a long recovery phase.
I don't know if this drop is just a correction,or if we experience the same as in 2017/2018, but if we have entered a bear market, we can expect to see the same picture we experienced from 2018-2021. That was all.

I don’t know why someone is constantly going back to 2017 or 2018 and comparing it to 2020 or 2021 - and even if someone wants it then it’s completely wrong - because 2017 was the peak that followed the 2016 halving - and by that 2021 by no means can not be a year to expect what happened in 2018 - because as I wrote in a previous post, halving was less than 1 year ago.

What you call the bear market has happened several times this year, so I will give you some dates that prove it.

- February 21, 2021 - $57 700 -> February 23, 2021 - $47 600
- March 14, 2021 - $60 700 -> March 16, 2021 - $54 900
- March 24, 20121 - $57 000 -> March 25, 2021 -$50 900
- April 14, 2021 - $64 300 -> April 18, 2021 - $54 600

Source

Given the data I have shown you and given that the market is slowly recovering, can you now conclude that what happened yesterday is nothing new and does not deserve any panic or comparisons with 2017/18?

[7788bitcoin]

So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

If you think that you will be dead by the time bitcoin reaches a million dollar then it is a different emotion  . You cannot reach the conclusion that we are on the verge of a major correction as the market is showing signs of recovery and one thing i do think is that if there is a major correction then we should wait for another 4 years for the market to rally again. You need patience to make money and if you have that you are bound to be successful and probably make a fortune.