How come BTC is not at least $75,000 yet?

[rby]

With Russia being squeezed out using its own economy with the blocking of swift for its banking services, aren't its people suppose to turn to bitcoin which should have shown bullish traits by now...

I asked myself the same question mate, and not just for Russia. Seems the inflation will be through the roof, so I expected people will buy BTC to keep their protect their money.

Everyone is supposed to turn to Bitcoin for saving money but the problem is awareness. Many people are not aware of the importance of bitcoin. But for Russia and Ukraine because of the war their citizens is supposed to know about bitcoin because they are looking for a way to survive in a hash economy.
Every country fiat will keep loosing value and by the future everyone will join bitcoin bandwagon

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[bitterguy28]

With Russia being squeezed out using its own economy with the blocking of swift for its banking services, aren't its people suppose to turn to bitcoin which should have shown bullish traits by now...

I asked myself the same question mate, and not just for Russia. Seems the inflation will be through the roof, so I expected people will buy BTC to keep their protect their money.

the war runs more than 2 weeks now but yet there are no sign of Russians or even Ukrainians investing large amount to bitcoin or at least in other altcoins? look at the capitalization of market still holding same before the war started .
this means one thing I believe and that is the both countries still not into crypto saving their money .

The economic situation and world conflict that made Bitcoin unable to break through again to the $75k level, world investors prefer him rather than deal with big losses, wait for the economic situation and world conflicts to calm down, all elements will return to Bitcoin, at that time the Bitcoin price will reach $75k.

what do you mean by AGAIN?  bitcoin never crossed 75k mate but that is considered to be the barricade level.

[Botnake]

With Russia being squeezed out using its own economy with the blocking of swift for its banking services, aren't its people suppose to turn to bitcoin which should have shown bullish traits by now...

I asked myself the same question mate, and not just for Russia. Seems the inflation will be through the roof, so I expected people will buy BTC to keep their protect their money.

Everyone is supposed to turn to Bitcoin for saving money but the problem is awareness. Many people are not aware of the importance of bitcoin. But for Russia and Ukraine because of the war their citizens is supposed to know about bitcoin because they are looking for a way to survive in a hash economy.

Some of the citizens know about bitcoin as exposure of bitcoin in Russia is huge.
As we can see from https://triple-a.io/crypto-ownership-russia/.. it says that the 11.9% of Russia's total population currently own cryptocurrency.
So you can already see the awareness from that figure itself.

How many crypto owners in Russia?
It is estimated that over 17.3 million people, 11.9% of Russia’s total population, currently own cryptocurrency.(1)

Is Russia the next crypto owners hub?
Cryptocurrency is listed as Russia’s fifth-most popular investment vehicle with a percentage rating of 17%, ahead of gold (16%) as well as stocks and shares (10%).(2)

How do Russians view crypto?
Bitcoin marketplace Paxful has shown a huge surge of interest in cryptocurrency peer-to-peer trading in Russia, with 350% growth on a year-over-year basis and an average monthly trading volume of $4M in Russia.(3)

Every country fiat will keep loosing value and by the future everyone will join bitcoin bandwagon

No, it doesn't work that way, when some country struggles, some would also enjoy it because they won the competition, that's why we have poor countries and rich countries.

[qwertyup23]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

No need to rush- let time do its thing in order to maximize the value of BTC.

Remember that due to a limited supply of 21 million in the market, the value of BTC depends highly on the law of demand and supply. In addition, its inflationary nature makes it a perfect investment tool for people who want to keep their BTCs long term. Imagine, 5-7 years ago, the price of 1 BTC was nowhere near its value today- so just be patient and let time do its thing until it matures depending on the value you are willing to sell your coins.

[ninis45]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

No need to rush- let time do its thing in order to maximize the value of BTC.

Remember that due to a limited supply of 21 million in the market, the value of BTC depends highly on the law of demand and supply. In addition, its inflationary nature makes it a perfect investment tool for people who want to keep their BTCs long term. Imagine, 5-7 years ago, the price of 1 BTC was nowhere near its value today- so just be patient and let time do its thing until it matures depending on the value you are willing to sell your coins.

we just have to wait to reach $75k patiently because the real winners will be strong holders and the price is not too far from ATH last year. fiat supply from year to year will always increase this is where the basic difference is, while bitcoin is the opposite

[suzanne5223]

we just have to wait to reach $75k patiently because the real winners will be strong holders and the price is not too far from ATH last year. fiat supply from year to year will always increase this is where the basic difference is, while bitcoin is the opposite

My advice to you guys is to step aside from some stablecoin that you can use to buy dip because normally we shouldn't expect any parabolic momentum in the Bitcoin market and I am saying this base on the previous market momentum of Bitcoin after the Bitcoin halving effect market.
If Bitcoin replicates the old momentum we ought to see a huge market correction but the institutional investors holder are bullish on BTC and it still prevents it from happening but it may not be for long.

[CaVO32]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

No need to rush- let time do its thing in order to maximize the value of BTC.

Remember that due to a limited supply of 21 million in the market, the value of BTC depends highly on the law of demand and supply. In addition, its inflationary nature makes it a perfect investment tool for people who want to keep their BTCs long term. Imagine, 5-7 years ago, the price of 1 BTC was nowhere near its value today- so just be patient and let time do its thing until it matures depending on the value you are willing to sell your coins.

we just have to wait to reach $75k patiently because the real winners will be strong holders and the price is not too far from ATH last year. fiat supply from year to year will always increase this is where the basic difference is, while bitcoin is the opposite

This is true, the bitcoin supply is fixed. So the higher the demand, and so is the increase of price. People are sometimes in a hurry to get their profits. But they should understand that it is not always on their favor here. We need to be patient if you want to reap your rewards. While waiting, you should be accumulating valuable coins before you regret in the future, that is, if you truly believe the future of crypto.

[keonhacaiwiki]

There are many things that can happen with Bitcoin. If you have debt, you can respond, but I don't think it's panicking enough.
I still believe that the marketability of Bitcoin is limitless.

Homepage : https://keonhacai.wiki/

[Sebas.tian]

The economic situation and world conflict that made Bitcoin unable to break through again to the $75k level, world investors prefer him rather than deal with big losses, wait for the economic situation and world conflicts to calm down, all elements will return to Bitcoin, at that time the Bitcoin price will reach $75k.

I disagree with you because economics situation and world conflict cannot stop bitcoin price not to break through back to $75k. During the pandemic that took over two years and some months, made some countries to understood that no economy situation or countries conflict can stop bitcoin price not to pump or dump in the in the world. Investors are seriously busy to invest their money on bitcoin because the price has decreased to $38k which any moment from now, it will improve to $75k or $100k to allow investors to recover their losses. The level the price of bitcoin has got to now in the exchange market, show  we are about to see another favourable level of bitcoin price before the end of this month.

[oHnK]

some people have their own views about Bitcoin, so that awareness of the importance of bitcoin is only used for those who believe and have learned what cryptocurrency is. In the war between Russia and Ukraine, the use of bitcoin has actually been exemplified, such as raising funds for Ukraine using Bitcoin or other Altcoins, so that funds cannot be frozen by anyone. Bitcoin and altcoins are decentralized, so no one can fully control them.

However, the use of Bitcoin during war isn't good for the price movement. There are many people try to do transaction with Bitcoin because of the sanction that they receive. Why I say that's not good enough because in war many people sell their asset to fulfill their needs even for the government too. Government although dislike to Bitcoin because can't control it, but they keep accept money in Bitcoin for pay war cost.

[fuguebtc]

With Russia being squeezed out using its own economy with the blocking of swift for its banking services, aren't its people suppose to turn to bitcoin which should have shown bullish traits by now...

I asked myself the same question mate, and not just for Russia. Seems the inflation will be through the roof, so I expected people will buy BTC to keep their protect their money.

Inflation has hit a record high and bitcoin is seen as a hedge against inflation. This is really the factor for bitcoin to hit new ATH when fiat currencies are seriously depreciating and people will need a safe haven like gold, bitcoin is a great alternative next to gold. High inflation will mean that the government will pump more money into the economy, but bitcoin limits the supply. As demand increases, prices will climb.

[JustAnOtherLoser]

The rush? I've never sold a bit of BTC since 2013 and I'm starting to get bored, that's the rush. I want to feel the fruits of my labor too. Don't plan waiting 10 more years.

Damn. I hope you have backed up your Keys. I looked at so many blocks and thought most of these people lost their coins... apparently some of them are just diamond handed. I sold so much BTC for worthless fiat money. Don't be like me, kids. Stay with BTC!

[Mahanton]

The rush? I've never sold a bit of BTC since 2013 and I'm starting to get bored, that's the rush. I want to feel the fruits of my labor too. Don't plan waiting 10 more years.

Damn. I hope you have backed up your Keys. I looked at so many blocks and thought most of these people lost their coins... apparently some of them are just diamond handed. I sold so much BTC for worthless fiat money. Don't be like me, kids. Stay with BTC!

Profits is profits and people shouldnt really be having those kind of regrets on keep on looking back in the past on how much they could have potentially made off if they do able to held their coins for long years.
Not all does have the same level of patience or tolerance when it comes to waiting game because when it comes to future then no one really knows on what it would looks like so its not surprising or shocking
that you would really miss out  these opportunities due to unpredictability or random nature of the market which is something people do normally commits on.

[ZaMRoneY]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

Yeah i feel like the Fiat currency is losing so much value lately that everyone is noticing it, the printing ponsy is finally coming to a end. Crypto gives so much power back to people and yeah i agree BTC is worth peanuts currently considering it's potential.  But at the same time i feel like there are more rewarding options out there than BTC since BTC has already such a high market cap it's hard to raise the price. I been keeping these 2 projects on my radar for a while and i wonder what do you guys think of them? I'm really into metaverse/gaming niche and i like to keep my portfolio diversified when it comes to metaverse/gaming. First one is #Lunafi which brings crypto safe gambling to metaverse on Polygon network which keeps the gas prices low. Lunafi also has a Yield farming option for passive income if you plan on holding for longer times you gain extra rewards every time someone places a bet on Lunafi by providing liquidity for them. The other one that really caught my interest is #ENGN which makes game development on blockchain a whole lot easier, by allowing developers to implement blockchain technology to non-blockchain projects. Which is a matter of time till big companies see the potential of blockchain technology for their companies. Also $ENGN has a new shooter game around the corner which runs on Unreal engine and the gameplay reminds me of fortnite but on steroids. But i'm also looking for more suggestions to diversify my portfolio on the Gaming/metaverse niche. Thanks !  

[vd309]

Inflation has hit a record high and bitcoin is seen as a hedge against inflation. This is really the factor for bitcoin to hit new ATH when fiat currencies are seriously depreciating and people will need a safe haven like gold, bitcoin is a great alternative next to gold. High inflation will mean that the government will pump more money into the economy, but bitcoin limits the supply. As demand increases, prices will climb.

That was my thoughts. The only think it hasn't started yet is maybe because the adoption isn't great. People still looking into other assets to protect their money. The properties in my area went up 50% in the last year.

[Abiky]

Not everyone will buy bitcoin when it is not a legal currency in many parts of the world. There are some institutions or people with huge amounts of fiat, who only want to invest in things that are recognized by the governments. There are other people who prefer to invest in gold and do not trust bitcoin because of its volatile nature.
But keep in mind that bitcoin will reach 75,000$ or more very soon. It's just that we don't know exactly when it will reach these values.

Of course. Not every country supports Bitcoin these days. There are a vast number of people who don't know what Bitcoin is. If we include those people into Bitcoin, the cryptocurrency's price would've been more than $75k by now. Good things take time to reach the mainstream, so I'm in no hurry to see Bitcoin reach a new All-time-high anytime soon.

As you've said before, no one knows when Bitcoin will reach $75k per coin. All we can do is speculate with the hopes of seeing our dreams becoming a reality someday. The cryptocurrency is deflationary by design, so it should be able to reach a new ATH with every block reward halving. That is assuming demand stays high. With institutional investors, renowned companies, and prominent figures in the game, I'm certain 1 Bitcoin will never be worth the same as it is right now. Buying and holding while it's still "cheap" may be your best bet towards achieving untold riches in the future. Just my thoughts

[Etranger]

Everyone is supposed to turn to Bitcoin for saving money but the problem is awareness.

In fact, I thought that the distrust was more of a problem than awareness. Many people are already familiar with cryptocurrencies, bitcoin in particular, they know about its potential and purpose, but they do not seem to be able to accept it as the truth. Each time they delay their decision to invest in bitcoin because they think it's too late, or the price is too high, or a bunch of other reasons. And then bitcoin grows again and they regret that they didn't buy it before, but at this point their distrust grows even more, because according to their logic, after a big growth, it's definitely too late to buy. The situation is similar with the fall of bitcoin. Instead of buying, they drop their hands and say that such a fate will befall Bitcoin all the time, that it will always lose in value, and therefore it is good that they did not buy it. These people seem to me to be always in the wrong place at the wrong time. It is because of their distrust, I think

[Bitstar_coin]

Everyone is supposed to turn to Bitcoin for saving money but the problem is awareness. Many people are not aware of the importance of bitcoin. But for Russia and Ukraine because of the war their citizens is supposed to know about bitcoin because they are looking for a way to survive in a hash economy.
Every country fiat will keep loosing value and by the future everyone will join bitcoin bandwagon

I think it is not just because of lack of awareness, I think it also has to do with fear of btc price going down, those who are aware are more concerned about the price, for someone who bought btc at 60k and watch it go down to 30k (who probably panic and sold at loss) will not consider to buying back.

While those who are still holding from ath are probably just waiting for the price to go back to 60k so they can sell. There are different reasons why majority of people are not saving money with btc. It could be lack of awareness,  it could be fear or it could be lack of trust as a result of the awful things about btc and crypto online.

[Ale88]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

Right now there still are too many things going on: covid is not done yet, prices are going up, uncertainty because of the war... Many people are still struggling to get to the end of the month or simply filling their tank, I can understand why bitcoin doesn't seem to be a priority right now, even though it's actually a great moment to accumulate.

[ReiMomo]

The USD is losing value. The EUR is losing value. All national coins are inflationary, energy prices are through the roof and still BTC is only $36,500! People should buy BTC like crazy, this is something I don't understand, they keep using the crappy FIAT instead. FIAT will all make you poor! Don't come crying here after when BTC hits $100K, but FIAT is the worst investment someone can make these days. BTC is still cheap as peanuts considering its potential, too bad people don't see it, have fun staying poor and keep making those bankers rich. Unbelievable.

Right now there still are too many things going on: covid is not done yet, prices are going up, uncertainty because of the war... Many people are still struggling to get to the end of the month or simply filling their tank, I can understand why bitcoin doesn't seem to be a priority right now, even though it's actually a great moment to accumulate.

Lack of money is one reason. Basic thinks' price went up but the earnings / income is less and unable to have extra amount in hand to invest in BTC though being very confident in BTC return. People who are rich, holding themselves back from investing more on btc seeing its current market move. This would be another reason. But when compared to 2020, number of investors have increased