Thirteen years amidst bitcoin volatility

[348Judah]

Where there have been lot of assumptions and uncertainties about bitcoin as a result of this year bear condition which is notably to be causing fear as they may named (FUD, FOMO) as the case maybe, then i see it a need to dive into the history behind the bitcoin price taking a speculation on how the market trends has been moving from previous years to date in other to clear every unnecessary doubts about the present condition of bitcoin price moving within the edge of $20k

In 2011 bitcoin price went from $32 down to as low as $0.01


In 2015 bitcoin price went from $1,000 to as low below $200  while In 2017 bitcoin price went from $20,000 to as low as $3,200


in 2020 bitcoin price went from $63,000 to as low as $29,000


In 2022 bitcoin price went from $68,000 to as low as below $20,000


lot had been said about bitcoin coming to nothing but this week surges with a new sign, no hope is dashed away yet on investors, a journey of thirteen years faithfulness and consistency in bitcoin has the gurantee to remain ever relevant as currency, while some claimed it to be a ponzi scheme but the fact that bitcoin is volatile remains hidden to their understanding that it has the potential to rise and fall.

Reference:
https://blog.bitmex.com/the-june-2011-bitcoin-flash-crash/
https://cointelegraph.com/news/a-brief-history-of-bitcoin-crashes-and-bear-markets-2009-2022/amp

[sunsilk]

while some claimed it to be a ponzi scheme but the fact that bitcoin is volatile remains hidden to their understanding that it has the potential to rise and fall.

That's stopping them to invest in bitcoin and aside from that, the use of it for illegal matters is also one of the reason why many don't want to buy on it.

While they're on fear of buying it because of those reasons. Those that understand what bitcoin is and how it's being used the same as fiat while being an investment and store of value, holders are enjoying the swings and it's not that scary at all anymore.

When you've been here since 2020 and below, you're in a better status right now if you're still holding.

[Lanatsa]

while some claimed it to be a ponzi scheme but the fact that bitcoin is volatile remains hidden to their understanding that it has the potential to rise and fall.

That's stopping them to invest in bitcoin and aside from that, the use of it for illegal matters is also one of the reason why many don't want to buy on it.

While they're on fear of buying it because of those reasons. Those that understand what bitcoin is and how it's being used the same as fiat while being an investment and store of value, holders are enjoying the swings and it's not that scary at all anymore.

When you've been here since 2020 and below, you're in a better status right now if you're still holding.

They are simply just missing out the opportunity on making a great or good investment specially now that we are on dip or possible bottom of 20k+ price which we might not able to see in future years to come once again

if the market starts to make out some significant movement in price then to those who do jumped in are the ones who would really benefit out and to those who do keep on doubts and still scared to engage on will really

miss out the train.Its just like that where people who dont like to take risk will not gain something but of of course every investment does have its own risk then its up to someone to accept on it.
I've been on this market for lots of years and this isnt a smooth sail ride to have.

[pooya87]

the use of it for illegal matters is also one of the reason why many don't want to buy on it.

You mean the FUD about bitcoin being used for illegal things because we all know that bitcoin is money and like any other form of money it is used for a lot of different things. But ratio-wise the ration of usage for illegal activities compared to anything else is so much lower when compared with fiat. In other words if people were worried about a currency being used for illegal activities they should stop using fiat.

[Strongkored]

Doubts on bitcoin will always be there especially for those who are still very new to bitcoin, rapid price changes are possible for them to be doubtful but not for those who have been in the crypto world long enough they already understand how volatile bitcoin is. As for said of ponzi schemes because people do not understand why the price of bitcoin can go up or down.

[sunsilk]

the use of it for illegal matters is also one of the reason why many don't want to buy on it.

You mean the FUD about bitcoin being used for illegal things because we all know that bitcoin is money and like any other form of money it is used for a lot of different things. But ratio-wise the ration of usage for illegal activities compared to anything else is so much lower when compared with fiat. In other words if people were worried about a currency being used for illegal activities they should stop using fiat.

That's true, usage of fiat is more for illegal use than the use of bitcoin. It's harder to trace and even finger prints, it couldn't be traced there if those people doing illegal transactions are aware of it, they'll just use those gloves or will simply glue their hands to avoid being traced through their marks and finger prints.

The belief of being used illegally is still there and I think it will be long until the majority and newbies would come to realize that fiat is more dominant in that case.

They are simply just missing out the opportunity on making a great or good investment specially now that we are on dip or possible bottom of 20k+ price which we might not able to see in future years to come once again

if the market starts to make out some significant movement in price then to those who do jumped in are the ones who would really benefit out and to those who do keep on doubts and still scared to engage on will really

miss out the train.Its just like that where people who dont like to take risk will not gain something but of of course every investment does have its own risk then its up to someone to accept on it.
I've been on this market for lots of years and this isnt a smooth sail ride to have.

Missing out is one reason and they have thought about buying when the price was high and when it has dropped too much, that desire is gone in an instant because it changes their mind.

And thinks that it will be long time again before bitcoin recovers but, the easy logical understanding is to look through its history. Bitcoin may down for sometime but in the long run, it will dominate again and will reach new all time highs and lows.

[fiulpro]

Bitcoins and illegal matters !?

The only people who do think about that is honestly who are either owning a bank or either they are actually in the government, the new mentality is way different, when we talk about ' Bitcoins ' we are not talking about an investment and also the most dominating and strong cryptocurrency which is very well known around the world that it is now being taken as a solution for most of the issues like inflation and it's going to be inevitably used for things like money laundering but everything is used for it to be honest, be it fiat or even good or other precious metals.