Are we in 2017 again? How do you feel about the price chart today?

[JustAnOtherLoser]

Hi Guys & Girls,

first of all: I'm sorry for this rather boring Thread. I know BTC is way more than a price moment upwards (in theory),
but let's be realistic for a Moment: More BTC is always nice to have, so why not think about some recent movements?

I think we could maybe see something like in Feb 2018, when BTC bounced back up after around 65% loss.
After that came the ~2.5 Year long "Crypto winter", as many of you will remember .

Now, in 2021 we're at a +25% after about 50% loss before. When I hear into my feelings, I think we could end up in
another winter till the next having. It does not feel like 100k will happen. I don't care and it's not important to me,
just stock-to-flow and all the 2021 BTC News seemed way stronger than in 2017... but is it strong enough for 100k?
I don't think so. Many people still hate BTC for a lot of wrong reasons, because they're not educated enough right now.
In my real life I'm more or less the outsider with my Opinion about BTC changing the whole Currency System.

That's why I'm asking you guys, how do you feel about BTC at this moment? Is this protocol worth 1 Trillion and more at this current stage?
Don't get me wrong. I love this project and never saw anything like BTC before, but we're still just "a few" people.

[NotATether]

All price indicators in Q1 2021 were showing we were heading to a boom after we passed $60K until that blight Elon Musk ruined it and the torrent of hysteria news from "pundits" about cryptocurrencies came down  

It is different from late 2017 when inflated miner/block/etc. expectations severely overvalued BTC.

But it seems we are slowly recovering from that shock, remember that we had just tested the $30K-$40K range for quite a while and the fact that we remain above it is a good sign. We even hit $42K in the last few hours.

[20kevin20]

I think, we could, we might, the price would ... it's all nonsense if you think about it. Even if the majority of us say the price should be much more than it currently is, our opinion is worth about nothing in the end. The market still moves according to the news, the new investors' moves, whales and so on.

You're on a Bitcoin forum anyway, so expect the majority of the answers to be positive. Bitcoin is still early, it might very well still be very cheap as well. A move from $40k to $400k might seem very hard, but it might turn out to be as easy, if not easier, than the move from $6k to $60k was. The secret word is might. Things are uncertain, the market is volatile.. at the end of the day, Bitcoin just moves in whichever direction it wants to.

[Sweetbtc]

BTC is total decentralize token and its price depend on buying and selling. Good or bad News have a great impact on its price. After reaching 60k Elon and China news create fear in market and we had seen 30k . now fears has been over and investor buying many coins alongg with bitcoin.
I think we are out of the mud so to say.. But we aren't In the clear yet, resistance around 42k will be a make or break moment & then Should be smooth sailing if we can break through it.

[randegibran]

I think it might happen anytime and anywhere, even though we can see the graph of the decline that occurred this year, it really makes us as investors feel a little pessimistic about what is happening at this time, but we are also very optimistic that things in the past will definitely happen again in the future, considering the implementation of this business is very long term and this is interesting for us to look forward to

[Porfirii]

Even if it is nonsense to speculate about the price we believe will be by the end of the year, as stated above, you are asking about feelings, so I will share mine. After three years of bear market I really think that, if the conditions are auspicious, we will se a great surge in the last quarter of the year, just like in 2017. Maybe the recall of that time in many investors mind will lead to repeating it, intuitively when not consciously.

[YOSHIE]

Two options for current Bitcoin users.

1. In the first option Bitcoin continues to rise at the level of $70,000 at the end of 2021.
2. The second option Bitcoin continues to fall and can reach the lowest level as happened in 2019.

With these two options, most people hesitate in predicting the real Bitcoin price, you know negative news keeps coming as well as positive news, I judge that the two options are sure to happen, especially the movement of the charts and the development of the crypto market this year, overall from the observations and conditions of the current crypto market, I don't think things are bad, certainly for now trading time-to-time is a professional move.

[Upgrade00]

Don't get me wrong. I love this project and never saw anything like BTC before, but we're still just "a few" people.

The fact that the Bitcoin community is still made up of a 'few' people means those who know about it now are early adopters, putting them in a good position for the future. All new innovations diffuse slowly into the society, happened to internet, which is now everywhere in the world. Bitcoin is at the stage the internet was many years ago and has huge potential for growth both in users and value.

I voted for $100k or more, but it doesn't matter really, price speculations are unnecessary in th long run. Just buy and hodl.

[mk4]

The community's sentiment towards bitcoin's price seems to shift back and forth since the past few months, almost immediately shifting after every 5-10% price drop/increase. In summary, bitcoin's price is pretty much unpredictable as per usual lol. I think it will continue to greatly surprise us whether it's due to a huge upward or downward price movement.

[Tim-BTC]

Bitcoin, which has existed for more than ten years, is indisputable. It is tenacious and unbeatable.
With more and more people's attention, its price will definitely get higher and higher.The market value will also increase.
What we have to do is not to predict it, but to wait.

[franky1]

2021's $60k was not a sustainable value.. it was highly inflated compared to mining costs at the time
much like 2018's $20k
(both occassions bound to correct down)

2018 had some mining drama that tanked the price down to $4k
much like 2021 had mining drama that tanked it down to $29k


the settled value level of mining bottom line was year average (pre and post mining drama)
2018 ~$5k
2021 ~$25k

so expect good value bottom line(the new ZERO)
2018 ~$5k
2021 ~$26k


anything above that is just speculative human emotion price decision. that no one can predict
all you can do is watch the hashrate, convert to actual mining cost(including hardware) for different regions of the world to see the different layers of support in human decision to mine(to sell) or to buy(to hoard)

america is mid $30k. so this mid $30k threshold is a pivot point of human decision change from mining to buying. which then accellerates the price up. or down depending on where the price sits
(china/iceland always have cheapest mining so dont even worry about their pivot point, they are part of the bottomline(new zero))

UK/EU are above that. (so right now they are TEAM BUY) as its too expensive to mine right now
germany/japan for instance has a moning cost of about $52k. so they are team buy. and as the most expensive mining region. they are part of the 'demand' play that gives up buying above that amount which then causes the price escalation to drop off/maxout (no one wants to buy if they can mine for cheaper).

[Ozero]

It is unlikely that the price of bitcoin will change very quickly, as we want it or are afraid. Why should the price of bitcoin be still falling or rising sharply now? Relax, anyway, until the fall, I don't expect too much bitcoin price movements in either direction. Now the price of bitcoin is at the level of 40,000 dollars and I do not think that with such a high price, we will call the subsequent, possibly long period of price calm, crypto winter. In any case, I do not think there will be no rise in cryptocurrency prices in the fall. We already have a very wide variety of good altcoins and they will play a prominent role in this market. At the same time, the price dominance of bitcoin will inevitably fall. He will have to make room.

[isaac_clarke22]

~

Ah yes, I remember that "65%" loss. The price that time was around 3k-4k if I can recall the charts correctly, but I know Bitcoin stabilized above 7k for so long before it dropped way way way below that. I wonder how many people panicked in that year only to find out that Bitcoin went back to 10k. Many people called it "bloodbath" due to the ATL that time.
About my thoughts for the price movement, I would buy more if it went down and would hodl it again til we reach another ATH though that will surely be way longer time to wait, but I am good with it.

[pooya87]

I think we could maybe see something like in Feb 2018, when BTC bounced back up after around 65% loss.

2018 was a bear market and you can't expect any recovery in a bear market as price kept going down during 2018 and remained down until next year.

After that came the ~2.5 Year long "Crypto winter", as many of you will remember .

The "crypto winter" came after the 2017 bubble and for the altcoin market it was due to them being over-pumped and none of them have been able to recover even after 4.5 years.

Now, in 2021 we're at a +25% after about 50% loss before.

If you look at 2017 it is filled with 30%-40% drops and yet price went up more than 20x!

It does not feel like 100k will happen.

Why?!

I don't care and it's not important to me,

Then why mention it

just stock-to-flow and all the 2021 BTC News seemed way stronger than in 2017... but is it strong enough for 100k?

Stock to flow is just something people use to satisfy themselves about why price goes up. The real reason is adoption and as long as it is growing price will go up.

I don't think so. Many people still hate BTC for a lot of wrong reasons, because they're not educated enough right now.

That's not new. There have always been people who felt threatened by bitcoin or were severely misled about it and there will always be a lot of them around. You can't use this as a reason why you think price isn't going up.

That's why I'm asking you guys, how do you feel about BTC at this moment? Is this protocol worth 1 Trillion and more at this current stage?

I'm feeling the same way I felt 7 years ago when I started using bitcoin, it has a lot of potential to grow and hasn't yet reached mass adoption. It also doesn't matter that the "1 trillion" number is scary to some people, $40000 was also so scary to some people at some point.

[buwaytress]

Does tempt you to really make the comparisons, doesn't it? I've only been in that one cycle, moment for moment, and it was my first, so I was quite closely following so I remember it quite well. But what I do remember the most is what happened in the months leading up to when Bitcoin touched its old ATH around 1400 (?) and how a lot of people had given up and didn't really give me much optimism as a newcomer.

But from the time it breached 1.3k again to that eventual 20k peak -- 10 months it was pretty much "everyone on board and this is going way more than we think".

Not very similar to this cycle in terms of sentiment I'd say, where even from 20k (Dec) to 63k (April), there was a lack of "wee we're going to the moon". Perhaps because the moonbois were all in alts already and "DeFi". And it's an underwhelming 4 months of 3x, rather than 10 months of 15x (ATH to ATH).

So while I tend to believe the winter cycle will arrive, I don't sense that we're quite done yet, nor that we'll see the same hypercycle of 2017 or previous ever again.

That's my feeling here and now anyway.

[franky1]

just stock-to-flow

Stock to flow

stock to flow is a false graph of hope..

the stock metric. actually contains a price element..

so ofcourse they are going to correlate..

however if you take a real stock-flow of bitcoin without a price manipulation

its not this
         ___
    __/
 _/
/

its this


the manipulated stock to flow. is in step formation that matches price formation.. because the steps are the price.

so its not predicting anything its using the price to manipulate the stock to flow to resemble the price
in short. stock to flow is a meaningless chart

[awik p]

Bitcoin, which has existed for more than ten years, is indisputable. It is tenacious and unbeatable.
With more and more people's attention, its price will definitely get higher and higher.The market value will also increase.
What we have to do is not to predict it, but to wait.

what we have to do.. we can support bitcoin until its popularity is more increasing, such as introducing it to laymen who are not familiar with bitcoin and can be avoiding pessimism/desperation. This is a special hope/opportunity for humans and predicting it is a natural thing that many bitcoin enthusiasts often do, it can also be used as motivation and encouragement for confidence/optimism.

logically at this time where the adoption of bitcoin is still carried out by only a few people around the world, even from previous research it seems that there are not yet 2% of the world's population, and until now the development of bitcoin is very significant, we imagine if later 25% of the world's population has adopted it, let alone getting support from the government, of course this will be a very big opportunity to invest in bitcoin. and until now, with existing experience, bitcoin seems to be unstoppable, because even though there is a lot of news against it, bitcoin is still developing

[bryant.coleman]

Check the monthly inflation rate (Consumer Price Index) published by the United States Bureau of Labor Statistics. The higher the inflation, higher will be the chances that Bitcoin will move upwards. So far, the signs have been very encouraging. For the month of June, inflation rate was calculated at 0.9% (many times the average rate). If the inflation remains at such high levels, then mainstream investment assets such as treasury notes and bank deposits will lsoe their attractiveness and the demand for Bitcoin will increase.

[Boov]

The poll survey can already answer all what you're going to know here, it depicts how really the market and surveys responded honestly because it's in their heart.
We're in this open discussion which seriously talks about what possible things that are probably be happening in the future. Though it's quite impossible, but people preferred to say more good thoughts instead of ranting for negative ideas.
Let's bare in mind those good factors that helped btc soar, and also prevent toxic mindset to change our visionary towards cryptocurrency's future.

[CryptocurencyKing]

Well uhmmm, it's had to say 9n making comparison with what you didn't experience first hand but, I can recount that I've heard of the bullrun of 2017 far too long after the recent bullrun of 2020/2021 took places and not to have looked at it a little to understand what actually happened would feel like being in the wrong.

From the way its looking, the moves in the 2017 was as a result of long awaited whale investors of no particular kind which surfaced with the thrilling deposits on exchanges that followed the bitcoin halving, a halving that was experienced in the 2020 year, cutting down the price awarded to miners and following the events of the year which was the pandemic and Tesla further stepping in as a huge investor.

The moves in the market as it is now is very impressive following the what seems like a bear market exist but then, it seems a lot more different from the 2017 die to the change in the trends as to market determinant. Where a mare Tweet it a that it takes in place of actual investing.