How fast will Bitcoin fall down?

[Falconer]

-snip-

There's actually a lot of belief about bitcoin never becoming 0 again in the future, but we can never be completely sure of that. Bitcoin is a currency built on user trust that has received many new innovations as a type of means of payment. If any bitcoin user loses faith in bitcoin, it is clear that this coin will become worthless in the future regardless of the case. However, things as bad as this are not really thought about at this time considering that bitcoin is in a period of development which is potentially the most desirable as a new type of safe currency.

Price volatility is another thing that is normal, but the impact of various other crypto issues can always affect the price of bitcoin. This means that bitcoin can go down and up at any time as long as there are fundamentals that influence it.

[Chato1977]

We have only one Bitcoin and thousands of shitcoins, Bitcoin is the king of crypto and if you are still doubting that then you are in for a long time of being deceive by all this altcoins that come in Ponzi scheme garments.

Stay away from them and only buy Bitcoin for a sustainable long term goal.

lol , there are even ways to earn in altcoins guys, you cannot call all altcoin to be shitcoin but there are only few that is legit.

not totally stay away but instead try to accumulate the legit one and those are the one you can see on top of the list at least rank 2-5 for safety .

Creating a new altcoin can't make bitcoin fall rather as all altcoins depend on bitcoin to survive. Bitcoin is secure, reliable and fast compared to other altcoins, that's why bitcoin keeps standing out as the number one digital currency in coinmarketcap. Its dominant position in the crypto market is about 38.2%. The rest of dominance 61.8% is shared between thousands of altcoins

let altcoin alone , they have their own function while bitcoin is focusing in worldwide adoption .

[Yaunfitda]

-snip-

There's actually a lot of belief about bitcoin never becoming 0 again in the future, but we can never be completely sure of that. Bitcoin is a currency built on user trust that has received many new innovations as a type of means of payment. If any bitcoin user loses faith in bitcoin, it is clear that this coin will become worthless in the future regardless of the case. However, things as bad as this are not really thought about at this time considering that bitcoin is in a period of development which is potentially the most desirable as a new type of safe currency.

But a lot of bad things that had happen to us in the past, worst in the Mt. Gox, and we are going to look at the old post here and even in the social media back then, they said that bitcoin will go to 0. But it didn't happen, on the contrary it continue to grow.

Price volatility is another thing that is normal, but the impact of various other crypto issues can always affect the price of bitcoin. This means that bitcoin can go down and up at any time as long as there are fundamentals that influence it.

It's already part of the ecosystem, bitcoin and crypto in general is very volatile, more than any other assets and commodities out there. We can lose -20% in a given day, but then recover +40% in the next couple of days. No other matter can do that, and perhaps it was due to our market is not regulation or there are no central authority who can control unlike stocks.

[minime0105]

Hi. I'm a newbie and I'm just learning about this topic. There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry. How reliable is Bitcoin, what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

With my own knowledge concerning Bitcoin, if another technology that looks like Bitcoin come into existence and Bitcoin continue to be experiencing this bearish market, the technology will look like Bitcoin competitors and if it becomes influential to the society it might affect the the technology of Bitcoin tye way I'm seeing it, because people of the world like to involve their self for what that will benefit them, so from my understanding it will drag Bitcoin back.

[KennyR]

Hi. I'm a newbie and I'm just learning about this topic. There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry. How reliable is Bitcoin, what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

With my own knowledge concerning Bitcoin, if another technology that looks like Bitcoin come into existence and Bitcoin continue to be experiencing this bearish market, the technology will look like Bitcoin competitors and if it becomes influential to the society it might affect the the technology of Bitcoin tye way I'm seeing it, because people of the world like to involve their self for what that will benefit them, so from my understanding it will drag Bitcoin back.

You've mentioned if another technology similar to the bitcoin backing exists it'll grab the attention of the people and drag back bitcoin. Do you think such thing could happen in the next 100 years, technology changes according to the people's need. This doesn't mean people just leave it and move to the new one. Think of the stock market that is into usage prior to the existence of bitcoin. Even now stock market have its importance and people who are part of stock investing consider cryptocurrency investment and haven't left the stock market completely.

[Republikcoin.com]

With my own knowledge concerning Bitcoin, if another technology that looks like Bitcoin come into existence and Bitcoin continue to be experiencing this bearish market, the technology will look like Bitcoin competitors and if it becomes influential to the society it might affect the the technology of Bitcoin tye way I'm seeing it, because people of the world like to involve their self for what that will benefit them, so from my understanding it will drag Bitcoin back.

And what technology can now be very similar to the technology owned by Bitcoin? Because I still see that Bitcoin technology is the best even though there are many competitors born every year, but I don't see them as the best because Bitcoin is already well-known and has been developing well for a long time so anything new is to become a competitor to Bitcoin with almost the same concept. I don't think they will be as successful as Bitcoin in the foreseeable future.

[Joshapat]

The price of Bitcoin today rises again by around 2% and hopes to return to the level of $ 20K, with the biggest marketcap, investors should not panic when looking at the price of dropping, but if we want a big profit then now is the right time to buy more and I'm sure the year 2023 Prices can rise to the level of $ 35k

[Yatsan]

The price of Bitcoin today rises again by around 2% and hopes to return to the level of $ 20K, with the biggest marketcap, investors should not panic when looking at the price of dropping, but if we want a big profit then now is the right time to buy more and I'm sure the year 2023 Prices can rise to the level of $ 35k

Quite impossible with what we are seeing at this moment. The market is struggling at $16-17k. Given that we are more than a month remaining, things would be hard especially for a complete recovery with the market. But I don't want to conclude. This market behavior is just hard to predict. But if there will be news which could boost the interest and demand of investors towards this industry on the last month of this year, then things would be possible. But in my opinion, this year will end not in favor for us or for this industry in general. But let us hope as well that if it really won't, atleast there would be an increase on the early months of 2023. But as I've said, no assurance will be made. For now holding and being patient is the only thing we could do.

[Sir Legend]

Bitcoin is used to being pressured, I got to know bitcoin in 2013 when it was trending on many televisions, at that time I was still in college so I had plenty of time to watch tv news, and the thing that made me curious was the fantastic price increase in 2013, but I have no money to invest and only earning from faucets or giveaways, unfortunately after I was able to collect bitcoins last 2014 the price dropped more than 85% compared to ATH in 2013 so I left bitcoins at that time worth $ 5, and if the conversion is now around $ 280 .

[GigaBit]

Hi. I'm a newbie and I'm just learning about this topic. There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry. How reliable is Bitcoin, what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

Bitcoin is the first cryptocurrency that is now established around the world. Bitcoin pioneered what we know as blockchain technology, the technology that powers it. Bitcoin has always been the number one coin in the coin marketcap. On which the entire cryptocurrency market depends. Bitcoin is said to be the king of cryptocurrencies. One thing is to note that Bitcoin was founded in 2008 and is still the best but many altcoins have faded into existence. There are 21863 altcoins in coin market cap so far, are they all active? Of course not there are many shit coins, many coins are dead. But Bitcoin has remained in the same position since its inception gradually its popularity is increasing. It will have a big ATH in the upcoming bull market.

[Oasisman]

The price of Bitcoin today rises again by around 2% and hopes to return to the level of $ 20K, with the biggest marketcap, investors should not panic when looking at the price of dropping, but if we want a big profit then now is the right time to buy more and I'm sure the year 2023 Prices can rise to the level of $ 35k

Bitcoin is used to being pressured, I got to know bitcoin in 2013 when it was trending on many televisions, at that time I was still in college so I had plenty of time to watch tv news, and the thing that made me curious was the fantastic price increase in 2013, but I have no money to invest and only earning from faucets or giveaways, unfortunately after I was able to collect bitcoins last 2014 the price dropped more than 85% compared to ATH in 2013 so I left bitcoins at that time worth $ 5, and if the conversion is now around $ 280 .

Does either of you read what the OP wants to discuss or asked?
He's not literally asking for Bitcoin's reliability or sustainability. He's actually asking a "what if" question.
Like when there's a new blockchain and Bitcoin alike currency that surfaced, how does it affect Bitcoin price.

We all know, there has been a lot of attempt for this like what these projects from the past with thier own blockchain and coin are doing, but failed miserably.

[DudeAtWork420]

It took almost 3 years for BTC to go from 4k to 69K but it took only one hour to crash 50% from that price. BTC market can fall in a very fearful pace. It will not give you the time to react according to the market situation. You will be lucky if you can get out right before the crash. Most of the time our high expectation causes problem for our trade and we do not book profits.

[Reatim]

Hi. I'm a newbie and I'm just learning about this topic. There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry. How reliable is Bitcoin, what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

the faster it fall is the faster  can grow mate , remember that is the market shows us since day one.

How many times have you seen this happen?

because twice that I do , and yes  after every fall there will be increases or vice versa , expect good return after this bearish market trust me.


But one thing is sure in the market , that there is no permanent positioning ..

It took almost 3 years for BTC to go from 4k to 69K but it took only one hour to crash 50% from that price. BTC market can fall in a very fearful pace. It will not give you the time to react according to the market situation. You will be lucky if you can get out right before the crash. Most of the time our high expectation causes problem for our trade and we do not book profits.

that is why there is a so called Halving season that makes that 3-4 year cycle a very different action from bitcoin.

[wmaurik]

It took almost 3 years for BTC to go from 4k to 69K but it took only one hour to crash 50% from that price. BTC market can fall in a very fearful pace. It will not give you the time to react according to the market situation. You will be lucky if you can get out right before the crash. Most of the time our high expectation causes problem for our trade and we do not book profits.

Not recording existing profits is a mistake for some people who have higher expectations, causing them to forget to save the profits they have gotten from trading before the crash occurred in the market. It's true that any increase always takes a long time, so booking existing profits is actually a very feasible thing to do considering that price drops don't take too long to happen.

Sometimes I myself also forget to save the profits that I have earned, because when I think about more profits, I immediately no longer remember about the losses that can also occur at any time in the assets that I hold. That is why recording profits as you mean is a very absolute thing to do.

[michellee]

Bitcoin can fall fast or slow. You can look at the history of bitcoin to find out how fast or slow it fell and then rose again. We have seen several blockchains emerge besides bitcoin but bitcoin remains the leader in crypto. And it doesn't affect the movement of bitcoin in increasing its price because bitcoin stands alone.

And right now, the bitcoin price is still below, so you can still buy at the current price. After the fall of bitcoin to its current price, it will end soon and at that time, we will see whether bitcoin will increase quickly or slowly.

[aylabadia05]

Hi. I'm a newbie and I'm just learning about this topic. There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry. How reliable is Bitcoin, what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

Bitcoin has been able to survive today from today's predicted time and is still the first most popular crypto asset.
I can say that almost every time a new coin is born or released in the market but has not been able to make Bitcoin lost enthusiasts. Precisely what happens is to add enthusiasts to move closer to Bitcoin.

Falling and increasing can happen at any time even no expert can answer when that time will happen. It is important to know that enjoying the process of falling and rising Bitcoin is far more interesting than thinking about how fast Bitcoin falls because now many people are focused on buying Bitcoin every day based on ability.

[tygeade]

Bitcoin can fall fast or slow. You can look at the history of bitcoin to find out how fast or slow it fell and then rose again. We have seen several blockchains emerge besides bitcoin but bitcoin remains the leader in crypto. And it doesn't affect the movement of bitcoin in increasing its price because bitcoin stands alone.

And right now, the bitcoin price is still below, so you can still buy at the current price. After the fall of bitcoin to its current price, it will end soon and at that time, we will see whether bitcoin will increase quickly or slowly.

The speed is not really the important case most of the time, how far is the point. How far will it go down and how far will it go up is the key factor, because if you know the point it will stop then you will make a lot more profit. That doesn't change the fact that it will change too much, it will definitely cause a lot of trouble for people if they just calculate the pace but fail to calculate the point it will stop.

Like let's say you knew that it would go from 16k levels to 30k levels in a month, and after a month it really did reach 30k, you were right and that's great, so you sell, but then after another month it went to 40k, so you failed to know how far, and you just lost a chance to make more profit.

[michellee]

Bitcoin can fall fast or slow. You can look at the history of bitcoin to find out how fast or slow it fell and then rose again. We have seen several blockchains emerge besides bitcoin but bitcoin remains the leader in crypto. And it doesn't affect the movement of bitcoin in increasing its price because bitcoin stands alone.

And right now, the bitcoin price is still below, so you can still buy at the current price. After the fall of bitcoin to its current price, it will end soon and at that time, we will see whether bitcoin will increase quickly or slowly.

The speed is not really the important case most of the time, how far is the point. How far will it go down and how far will it go up is the key factor, because if you know the point it will stop then you will make a lot more profit. That doesn't change the fact that it will change too much, it will definitely cause a lot of trouble for people if they just calculate the pace but fail to calculate the point it will stop.

Like let's say you knew that it would go from 16k levels to 30k levels in a month, and after a month it really did reach 30k, you were right and that's great, so you sell, but then after another month it went to 40k, so you failed to know how far, and you just lost a chance to make more profit.

But some people worry that the price will go down quickly because it happens a lot with bitcoin. We've seen many times how a pump or dump occurs, which makes the price go up or down quickly and happens instantaneously over a few seconds. But if that is how far the price will go down or up, we can never predict it exactly.

Despite this, many people still predict where bitcoin will go, and few get it right. And it seems difficult to predict if the price will increase or decrease to a certain level.

[Woodie]

There are many questions that I would like to understand, maybe this one has already been discussed, but I didn't find the thread, sorry.

Don't be sorry, ask away.... but just try search the forum for keywords of what you want to inquire on or better yet Google search that using bitcointalk as your keyword

How reliable is Bitcoin,

Bitcoin has had its flaws and the bitcoin of today is far much better than the bitcoin we had over 10years! And with supporting technologies like lightning network and the alike i think bitcoin has become quite reliable unless you want to make some kind of instant transactions... Other altcoins will fill this gap 

what will it be if someone will generate a new blockchain or another digital currency, will it make bitcoin fall down, and how fast?

Honestly more coins on the market just slow down bitcoins growth and i wouldn't want more coins joining this ecosystem!
FYI we have over 21500 cryptos on the market and Bitcoin has kept its thrown, do we still need more of these to see the effects of extra altcoins It's a No for me.

[jossiel]

@OP, bitcoin is at the right path and every project that will make a new blockchain of their own and new token for which they think is better than bitcoin is going nowhere.

There have been gazillions of that type of projects in the past years of bitcoin's existence and most of them didn't survived at all. That's why many will tell you if it's bitcoin, it's like the assurance in this market but when it's about any other altcoin, you'll be not sure with most of them.