How come BTC is still so cheap?

[ultrloa]

This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!

Yeah you're right dude, right now Bitcoin is not popular on other countries at this moment but sooner or later they'll gonna know about Bitcoin and it will become intriguing on them on how they can make money on it.

Maybe yes but most provably not since bitcoin is all over the news recently so for sure they know bitcoin but they are afraid to use it since its new and volatile but when the time they understand how this one works provably we can see them competing us on trading or maybe on other crypto related stuff. For now lets hope to see more good news like new adoption on certain particular country so that we can see more countries adopting it. The announcement of Adoption in El Salvador and other country who already use bitcoin is good step for more adoption to come in future.

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[btc78]

This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!

But until that adoption comes mate? people will still choose to wait till it happens and besides El Salvador is almost same as venezuela , that adopting crypto because their country is really at the bottom now and need some booster and they focus in crypto instead of other opportunity.

So $35k is cheap for you OP? I think its a serious amount of money only rich people can buy in this current price if your just a normal investor with no huge capital $30k is already huge enough to gamble in BTC which the volatility is too high, if you have only $40k in your pocket, will you gamble the $35k and buy btc? Many people are hesitant to throw money into btc because of its tight regulations in every country but if this thing will be 100% legal worldwide btc will skyrocket up to $1m. 

Why Not read the OP first before posting such? it is an obvious that Only the Title take your curiosity and not reading the whole topic.

[Dhaniii]

This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!

Yeah you're right dude, right now Bitcoin is not popular on other countries at this moment but sooner or later they'll gonna know about Bitcoin and it will become intriguing on them on how they can make money on it.

They will surely know about Bitcoin sooner but the question if that gives them the interest or they just think for another drama like a scam thing on their mind.

There is no particular reason why Bitcoin didn't pump back high at $40k after the said news but of course, we can't just rely on it that will contribute a huge impact and shows an uptrend motion. It wasn't that fast and easy market trick, El Salvador is too far from China and therefore,  the impact is too small that become unnoticed.

of course in all countries know about bitcoin and some of them join and some of them want to get rid of it.
Bitcoin investment is influenced by many factors, so some countries are afraid of the legal exchange rate falling in certain countries. it's not that he doesn't see it, but his level of misgivings is high.

[Abiky]

Given the future potential, it still sounds cheap for me. You should not go by the market cap. Because the market cap accounts for all the coins in circulation, including the lost coins. The real market cap of coins that can be spent may be less than >$500 billion. This is less than the market cap of major corporations such as MSFT, GOOGL, AMZN and FB. Even TSLA is having a higher market cap. Do you really think that TSLA deserves a higher market cap when compared to BTC? IMO, the valuation for TSLA should be less than 1/10th of that of BTC.

If you consider how many Bitcoin has been lost over time, you'll realize that it's extremely undervalued. But the average person don't see it this way. Most people think Bitcoin is too expensive, so they try to avoid it as much as possible. For those who have a lot of money, this is the perfect opportunity to buy some coins before it goes towards new heights.

Compared to the market cap of Gold and major stocks, Bitcoin is still far behind. Despite its widespread success, the vast majority of people worldwide haven't adopted it for their own benefit. Imagine how big Bitcoin will grow if everyone around the world started using it more thoroughly. Its market cap will be insane! I wouldn't worry about how much a Bitcoin is worth as long as it works as sound money outside the scope of governments and banks worldwide. Just my opinion

[bengsabeng]

So $35k is cheap for you OP? I think its a serious amount of money only rich people can buy in this current price if your just a normal investor with no huge capital $30k is already huge enough to gamble in BTC which the volatility is too high, if you have only $40k in your pocket, will you gamble the $35k and buy btc? Many people are hesitant to throw money into btc because of its tight regulations in every country but if this thing will be 100% legal worldwide btc will skyrocket up to $1m. 

honestly I'm still confused by the strict rules you say. does each country have different rules regarding bitcoin? So what are the rules in your country? in my country there are no detailed rules regarding bitcoin because in my country bitcoin is only considered a digital asset.

[Rasa nanas]

cheap for people who have a lot of money but very expensive according to people like me. but no need to worry because i can collect some bitcoin from bounty and airdrop. I only use a small part for living needs and the rest for future investment. I think this is a very profitable investment because I believe in the future the price of bitcoin will be very expensive.

[slaman29]

cheap for people who have a lot of money but very expensive according to people like me. but no need to worry because i can collect some bitcoin from bounty and airdrop. I only use a small part for living needs and the rest for future investment. I think this is a very profitable investment because I believe in the future the price of bitcoin will be very expensive.

Remember, at some point, some guys were selling at $10 because they thought it was expensive too, and then believing it would never ben $10 again. Another set of guys thought the same at $100, and then again at $1000... the list goes on.

It will always get more expensive so buy, buy and buy;)

[erep]

Cheap or not the price of bitcoin today depends on how people view market developments by relating most of the positive news about the legality of bitcoin in several countries, while some people overestimate the level of dominance of FUD from China so important, they think bitcoin prices are still expensive.

[South Park]

So $35k is cheap for you OP? I think its a serious amount of money only rich people can buy in this current price if your just a normal investor with no huge capital $30k is already huge enough to gamble in BTC which the volatility is too high, if you have only $40k in your pocket, will you gamble the $35k and buy btc? Many people are hesitant to throw money into btc because of its tight regulations in every country but if this thing will be 100% legal worldwide btc will skyrocket up to $1m.  

I do not think they are thinking on those terms, very few people around the world have any savings and even fewer have 35k on a bank account ready to be invested at any moment, however compared to the price bitcoin reached, and compared to the price that we know it can reach 35k is in fact a very cheap price, and I think that is the perspective from which people are looking at this, if that does not make sense to you that is fine but now you know why people think 35k is cheap.

[Abiky]

Remember, at some point, some guys were selling at $10 because they thought it was expensive too, and then believing it would never ben $10 again. Another set of guys thought the same at $100, and then again at $1000... the list goes on.

It will always get more expensive so buy, buy and buy;)

Exactly. There really is no "bottom" for Bitcoin. The price is determined by people themselves based on current demand on the market. With the halving taking place every 4 years, Bitcoin will only go higher in price. If we base ourselves on this, then we can say that Bitcoin is still cheap. Imagine buying Bitcoin now at $33k per coin and then selling at $100k in the future. The profits made will be insane!

For what I know, Bitcoin behaves like a roller coaster. You can make even more money in the short term with Bitcoin's ups and downs if you play your cards right. There's no need to wait until it reaches a new All-time-high if you buy low and sell high during wild fluctuations in price. How far will Bitcoin go will greatly depend on mainstream adoption. What matters is Bitcoin's utility on top of the price per coin. As long as it works as intended, nothing else matters. Just my thoughts

[barota]

bitcoin become like doll , some news says salvador's for example support bitcoin , on the other hand, some countries do not support trading with exchanges and china banning bitcoin or banning mining from 2017 till now bitcoin suffer from bad and fake news , all this bad news has a negative effect for bitcoin , before 4 years and 2017 always , bitcoin was very good and easy for invest but in the recent years i think that bitcoin is not easy to make profit from him i hope that traders do not take  news seriously

[Golftech]

Cheap or not the price of bitcoin today depends on how people view market developments by relating most of the positive news about the legality of bitcoin in several countries, while some people overestimate the level of dominance of FUD from China so important, they think bitcoin prices are still expensive.

Supply and demand still influenced the value of Bitcoin, those who understand the system accordingly

will see this as opportunities, while those who are only relying with news and social medias will continue

to doubt this market, still depends or relying with how people appreciate it and how they'll take it as

investment or as  currency to use.

[Maslate]

Cheap or not the price of bitcoin today depends on how people view market developments by relating most of the positive news about the legality of bitcoin in several countries, while some people overestimate the level of dominance of FUD from China so important, they think bitcoin prices are still expensive.

Supply and demand still influenced the value of Bitcoin, those who understand the system accordingly

will see this as opportunities, while those who are only relying with news and social medias will continue

to doubt this market, still depends or relying with how people appreciate it and how they'll take it as

investment or as  currency to use.

As of now, I don't see the supply and demand principle really works as there's no big demand of bitcoin yet for usage, its demand only grows significantly during the bull run, and with that, it's not due to real usage but due to hype where people buy bitcoin to hold or trade. The real supply and demand would work better if there's a increasing demand of bitcoin for online transaction as that's  really the purpose.

[Clavulanic]

This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!

I can't find it cheap with that price of $30k above, maybe it's considered during the year of 2017 or later 2015 but as of these days I am not convinced to have a mindset of an affordable bitcoin. Hopefully I can still manage to purchase small amounts then, hold for several years even though waiting time is very hard to wait before earnings come. Timeline isn't a problem for me, because if predictions that btc would become really expensive like reaching up million dollars; everything will be worth it despite of small quantities.

[Reosta_]

It's totally normal to see Bitcoin price becoming this cheap right now. Bitcoin price will not always continue to rise in the end. We have also some time periods that we see the price falling also. And this is one of these periods. We may not have a chance like this to buy more for a long time when the bull market becomes in charge.

[Oceat]

It's totally normal to see Bitcoin price becoming this cheap right now. Bitcoin price will not always continue to rise in the end. We have also some time periods that we see the price falling also. And this is one of these periods. We may not have a chance like this to buy more for a long time when the bull market becomes in charge.

For what I see today, the price is not really that cheap if I have to compare it to the 2017 ATH price. So maybe some did know already this but hesitate to join and is waiting for the right time when the bear gets in. Maybe some people are waiting for the bottom to touch and buy from it but what we have seen today, the price seems stable from $30k+ and it's not considering to move back to $29k below.

I have a doubt if it's going to break another resistance on that current price level because I think we are almost near at the bear market soon. It's just that people already know how to hodl instead of dumping straight to the market.

[Rajamuda]

It's totally normal to see Bitcoin price becoming this cheap right now. Bitcoin price will not always continue to rise in the end. We have also some time periods that we see the price falling also. And this is one of these periods. We may not have a chance like this to buy more for a long time when the bull market becomes in charge.

If you look at the outline and for me too.. bitcoin actually is not cheap like you said, it's just that from the last 3 months it does look cheapest. We are indeed in a decline phase, but that doesn't mean it can weaken the investments we hold on to, in fact.. conditions like this can be another opportunity to re-enter and hold back for some additional time in the long term. We here just don't be weak but be more confident and optimistic

[rhodelmabanal]

It's totally normal to see Bitcoin price becoming this cheap right now. Bitcoin price will not always continue to rise in the end. We have also some time periods that we see the price falling also. And this is one of these periods. We may not have a chance like this to buy more for a long time when the bull market becomes in charge.

If you look at the outline and for me too.. bitcoin actually is not cheap like you said, it's just that from the last 3 months it does look cheapest. We are indeed in a decline phase, but that doesn't mean it can weaken the investments we hold on to, in fact.. conditions like this can be another opportunity to re-enter and hold back for some additional time in the long term. We here just don't be weak but be more confident and optimistic

I want to be optistic here, do you believe that we are about to see a bullish reversal any time soon? What i see, their are no bullish reversal signs, it’s doing exactly what’s it’s been doing the last 3 days, bouncing between resistance points. I have no choice but hold and keep an eye on the market.

I think you got it right, because there is no other option this time holding is the only option, the only choices is to hold or to loss!, I believe that we all wanted to earn so let us hold and wait for the next bullrun. We need patience and we need to be more wise panic sellers always loss and holders is always gain.

[djgtr]

It's totally normal to see Bitcoin price becoming this cheap right now. Bitcoin price will not always continue to rise in the end. We have also some time periods that we see the price falling also. And this is one of these periods. We may not have a chance like this to buy more for a long time when the bull market becomes in charge.

If you look at the outline and for me too.. bitcoin actually is not cheap like you said, it's just that from the last 3 months it does look cheapest. We are indeed in a decline phase, but that doesn't mean it can weaken the investments we hold on to, in fact.. conditions like this can be another opportunity to re-enter and hold back for some additional time in the long term. We here just don't be weak but be more confident and optimistic

I want to be optistic here, do you believe that we are about to see a bullish reversal any time soon? What i see, their are no bullish reversal signs, it’s doing exactly what’s it’s been doing the last 3 days, bouncing between resistance points. I have no choice but hold and keep an eye on the market.

I think you got it right, because there is no other option this time holding is the only option, the only choices is to hold or to loss!, I believe that we all wanted to earn so let us hold and wait for the next bullrun. We need patience and we need to be more wise panic sellers always loss and holders is always gain.

I agree but there is still a problem because not all of us here can hold for a long time. So probably there are a lot of people who loss than who earn. Crypto is always high on volatility and before investing people know that already. So why they still loss? It is all because people is always lack of patience and always wanted to earn in a very quick way greed and lack of patience can make is loss here.

[Sirait]

This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!

For those of us who are used to Bitcoin, they must think BTC is still cheap, but for those who have never bought Bitcoin, the current Bitcoin price is expensive. education about Bitcoin is still not evenly distributed, I am also sure that there are still many citizens of El Salvador who have not received education about Bitcoin.