Bitcoin isn't dying, it's alive.

[Iranus]

Lol I find it funny that this is even a valid topic. How does the current price of bitcoin determine if bitcoin is dying or not? Bitcoin is a volatile currency, the price has never been stable. There have been worse bearish seasons in the past and we recovered from it and went up to 60k$. No one was making such comments when the market was high, check the wall observer thread we were all anticipating bitcoin at 100k$. That didn’t happen, we still believe it will happen though.

I'm not going to talk about bitcoin's $100k target but I also find it funny that when bitcoin is at $16k and people say it's dying, maybe people don't know the concept of the word dead. Bitcoin's existence depends on our needs, as long as we still use it daily, it will always exist even if bitcoin drops below $100. Bitcoin has been around for 13 years and will continue to exist, I dare say bitcoin will not die, only investors who don't believe in bitcoin will leave the market. Don't ask how long bitcoin will last, ask how long you will stay in the market.

[Kakmakr]

Yes, I watched a financial discussion on the morning show a few days ago ...and the financial advisor said.. most financial instruments are struggling at the moment, but it is the best time to buy.

He said in the last decade, we have seen only a few times when the global markets dipped like this... example : Post 9-11 / Financial crisis  / Post Covid pandemic / Russia & Ukraine War.

So you have a choice.... Buy stocks or shares or Fiat on Forex markets OR buy cheap bitcoins. Which one do you think, have the most potential to recover the most. 

[Obari]

Bitcoin has passed the stage where tweets or comments from celebrates like Musk would have a meaningful impact on its price. Bitcoin is gradually becoming independent from external forces.

Musk isn't a true believer of Bitcoin and I agree totally with that and it is really truly that Bitcoin has gone passed the stage of having any meaningful impact over tweet made by celebrities.
I doubt if Satoshi even has any great impact on Bitcoin directly as the founder because of the decentralized nature of Bitcoin.
Bitcoin has come to stay and that is why is the most preferred coin and crypto generally accepted .
Bitcoin in the past has witnessed a whole lot of ups and downs and also risen to over $60k and just as every other currency and assets, the price of Bitcoin is also determined by the supply and demand of it and as a believer all we have to do is to continue holding and not panic.

[salad daging]

I'm not going to talk about bitcoin's $100k target but I also find it funny that when bitcoin is at $16k and people say it's dying, maybe people don't know the concept of the word dead. Bitcoin's existence depends on our needs, as long as we still use it daily, it will always exist even if bitcoin drops below $100. Bitcoin has been around for 13 years and will continue to exist, I dare say bitcoin will not die, only investors who don't believe in bitcoin will leave the market. Don't ask how long bitcoin will last, ask how long you will stay in the market.

There are always many who remind me when the bitcoin price is dying and they say "bitcoin will not die" I know this will not die even though the price continues to lower for me this is just a fear that they experience so they always strengthen themselves even though we never imagined bitcoin would die it will develop even more in the future.
Well, what you have to ask is how much do you survive in this gripping bearish condition because it won't take a little time or even longer that you feel all the time before the bullish season comes again, obstacles and mentality must be prepared and one more thing, take care of our finances so that we don't disrupt our investment in bitcoin.

[worle1bm]

It's alive after every dump and even if loose it's huge percentage like 70-80% btc has potential to rise up again and shutting all the trolls who just print out obituaries for it whenever there is price dips in the market.We need to realise that the whole market suffers in bearish trend and those shitcoins will never rise up again but bitcoin will grow even stronger as there is demand and utility for it in the market but only if you understand it's importance and long term holding.

[barto123]

the plebs that are still left, know that it continues to grow value by the day & it's supply is shrinking fast - from someone who uses Bitcoin a lot - it's never been easier to transact & secure.

most people aren't very bright - the market value is merely a reflection of that.

the tide will shift again - smart money is buying up big now.

boom & bust cycles - longterm number go up

[Lida93]

Anyone that understands what he or she is into about bitcoin then am sure such persons have no reason to be frightened about the recent downs in the price of bitcoin, if you have much money I'll advise to see this as opportunity to invest for a long investment as the price is sure to up turn higher and higher, all we just need right now is patient and patient only.

[CryptoPanda]

Don't ask how long bitcoin will last, ask how long you will stay in the market.

I like how you put it better. Bitcoin isn’t going anywhere, it’s only the weak hands that are leaving the market and are making a lot of noise about it. Five years from today, we will be seeing a repeat of comments by people whining about why they didn’t buy bitcoin at 17k$. It’s funny cause I know for a fact that newbies rushed in during the bullish season last year and even bought bitcoins at 45k, 50k, 55k without breaking a sweat, now they have the chance to buy at the bottom but are surprisingly scared to buy the dip.

[Yatsan]

Don't ask how long bitcoin will last, ask how long you will stay in the market.

I like how you put it better. Bitcoin isn’t going anywhere, it’s only the weak hands that are leaving the market and are making a lot of noise about it. Five years from today, we will be seeing a repeat of comments by people whining about why they didn’t buy bitcoin at 17k$. It’s funny cause I know for a fact that newbies rushed in during the bullish season last year and even bought bitcoins at 45k, 50k, 55k without breaking a sweat, now they have the chance to buy at the bottom but are surprisingly scared to buy the dip.

Just a cycle but those whining instances are just something. One reason why did not buy and regret it afterwards is simply because they are tangled with responsibilities.They cannot risk their money although they are seeking and wanting profit  I've been there; the only thing remained are my regrets. So let us all be kind to them still. They might sound noidy but their tantrums are because they cannot simply do what they want from considering ither things or other people, which is valid. Buying right now, in the first place, won't guarantee you profit after 1 month and there are just people who cannot lose that much even if they are interested with thr idea of investments.

[franky1]

the main issue for some is this

a. those already holding want huge spikes. and then want to find someone to buy it off them at the peak

b. they advertise it to newbies as a get rick quick scheme

c. they sell to newbies at the peak.

d. the newbies think that the current peak will re-peak in just a few months

reality is they see the correction from the premium back down to the value line where its meant to be supported
..

heck in 2012-13 i liked to pump and dump too on btc-e, it was fun and profitable, not gonna lie

however since then i have tried to do the correct thing. tell people to buy low sell high and hoard in the middle
i dont advertise bitcoin as a get rich quick scheme. i instead tell them about the long term retirement plan version. the "hodl" "stack sats" scenario as some call it now

bitcoins longevity is far longer than peoples lives (2140+)

those trying to compare it to tulips. need to realise that even 300 years later people still buy tulips.. (go to any garden center and see thme for sale)
businesses make profit even now selling tulips. so forget the ATH of 300 years ago, which no one now ever personally experienced.
ATH are meaningless in the grand scheme of things. temporary events, not the sustained value bottoms.. also. tulips are not limited supply asset. so no comparison

instead look at markets today and opportunities today to buy cheap and sell for profit later of a deflationary asset that WILL buy you more baked beans and bread and potato chips when you are older

[Findingnemo]

We can see the price of Bitcoin is going down gradually but no one wants to understand it depends on your stock market it is also a digital currency through digital transactions and it is currently in bad condition Elon Musk said in 1 reply on Twitter.  Bitcoin is as cold as winter you have to wait for this of course bitcoin price may go up at the end of this winter so be patient everyone.  So if we all wait and if we all hold on to what we have, it's going to get $30,000 to $40,000 by the middle of the year and get to a very good price and it could get to a hundred if we hold it tight, so everybody's disappointed.  Let's save Bitcoin by holding instead.

Stop being stupid, Elon is nothing but a crazy business man so all he is looking for will be more beneficial to him nor others so don't make your decision especially financial based with influence of someone. Do it only if you're ready to face the circumstances and FYI, bitcoin isn't dying and won't be but what I am saying is the history just repeating not because of Elon Musk.

[Rana590]

We can see the price of Bitcoin is going down gradually but no one wants to understand it depends on your stock market it is also a digital currency through digital transactions and it is currently in bad condition Elon Musk said in 1 reply on Twitter.  Bitcoin is as cold as winter you have to wait for this of course bitcoin price may go up at the end of this winter so be patient everyone.  So if we all wait and if we all hold on to what we have, it's going to get $30,000 to $40,000 by the middle of the year and get to a very good price and it could get to a hundred if we hold it tight, so everybody's disappointed.  Let's save Bitcoin by holding instead.

Stop being stupid, Elon is nothing but a crazy business man so all he is looking for will be more beneficial to him nor others so don't make your decision especially financial based with influence of someone. Do it only if you're ready to face the circumstances and FYI, bitcoin isn't dying and won't be but what I am saying is the history just repeating not because of Elon Musk.

Only Elon isn't able to change the flow of crypto currency. I'm agree with you that he is a cleaver business man who wants his benefits only. But at this stage, people are understanding his strategies. In this digital world, we have to think about digital currency and Bitcoin is the leader. It's not wiser decision to regret Bitcoin now.

[Issa56]

I'm not going to talk about bitcoin's $100k target but I also find it funny that when bitcoin is at $16k and people say it's dying, maybe people don't know the concept of the word dead.

I get annoyed whenever I see people saying bitcoin is about to die just because bitcoin is dumping, the only people I think that should be complaining are only newbies just joining the crypto space, and I don't think they should also complain because they should have done research before joining crypto.
Bitcoin have been in existence since 2009, bitcon have experienced lot's of dump, so I don't think anything is wrong with the current dump which we are experiencing. we don't just expect bitcoin to be pumping without any correction, i believe the current dump in Cryptocurrency space is just temporary, anybody that's trying to buy bitcoin should learn about bitcoin first before investing, if you believe bitcoin is going to die, then don't invest.

[Welsh]

I do not think its fair to say that the current price of bitcoin is a referendum on its "survival". If you have been following bitcoin for relatively short time, you might feel as if everything is going downhill. The price keeps falling, and as a result, fewer people are using it. Bitcoin, then, is dying, right? Not quite. Although the price of bitcoin does indicate how well bitcoin is doing, it's not the only indicator, and probably not even the best one.

Right, amount of transactions is probably the better metric to measure. Potentially, only from unique addresses, which would suggest the amount of use we're getting out of Bitcoin. Obviously, we've got a lot of users that like to hold their coins though, so the transaction count isn't perfect either. However, as long as the transaction count is increasing, it would suggest higher amounts of adoption.

Ideally though, you'd compare multiple statistics together to get an idea of how well Bitcoin is doing. Although, I'd argue that Bitcoin has already achieved it's goal, and is perfectly healthy, and the price is no indication of its use.

[philipma1957]

It is facing a lot of challenges.

A) Theft by exchanges goes on and on and on.
B) Will second layer scaling kill off mining on first layer?
C) Will doge which never runs out of rewards win out down the road.
D) Will a CBDC kill it off?

c and d are worse problems than A or B

but if you understand doge does 10 blocks for every 1 block btc does. If you understand doge could go the route of block size expansion you see that doge can do 1600 transactions for every one btc does.

This could mean a guy like Musk routs for either one as thry are the two biggest pow coins out there.

I fear CBDC done by USA true dollar backed or CBDC Euro backed quite a bit.

Sooner or later A) will be fixed

or we end up with D)

[kryptqnick]

I believe the op's expectations of $30-40 by the middle of next year are reasonable, as well as the eventual $100k target. There is no guarantee that this will happen, but it's realistic, given that the bear market has been going on for a while and more than 6 months from now is a big amount of time.
I do also agree with buwaytress that spenders matter because they legitimize Bitcoin as money, show that it is used this way. So we should never tell people who want to spend BTC (not panic sell BTC) during the bear market that they shouldn't.
But hodling instead of panic selling is a good advice.

[Henrobakkara]

We can see the price of Bitcoin is going down gradually but no one wants to understand it depends on your stock market it is also a digital currency through digital transactions and it is currently in bad condition Elon Musk said in 1 reply on Twitter.  Bitcoin is as cold as winter you have to wait for this of course bitcoin price may go up at the end of this winter so be patient everyone.  So if we all wait and if we all hold on to what we have, it's going to get $30,000 to $40,000 by the middle of the year and get to a very good price and it could get to a hundred if we hold it tight, so everybody's disappointed.  Let's save Bitcoin by holding instead.

Elon Musk said what , the market downtrend condition and all the Fud that comes with it shouldn't be a surprise to anyone that has been paying attention to all previous market circles. Yes, Elon once had a strong influence on the market at a point but I really don't see that much effect going forward, and which middle of the year are you talking about? I am guessing 2023 and could even be above that. The bottom line is, Bitcoin will definitely recover whether it will take the previous four-year circle or less is unsure.

[kamvreto]

I believe the op's expectations of $30-40 by the middle of next year are reasonable, as well as the eventual $100k target. There is no guarantee that this will happen, but it's realistic, given that the bear market has been going on for a while and more than 6 months from now is a big amount of time.
I do also agree with buwaytress that spenders matter because they legitimize Bitcoin as money, show that it is used this way. So we should never tell people who want to spend BTC (not panic sell BTC) during the bear market that they shouldn't.
But hodling instead of panic selling is a good advice.

Holding is a good suggestion that must be applied when the market continues to fall, panic will not solve the problem, panic will only make our assets disappear when selling at low prices and of course, it will be detrimental. This bearish 6 month has been a sign that bitcoin will hit a bull market again soon. Whoever becomes a diamond hand by holding on as hard as he can gets a lot of benefits. the $100k target as the OP said is not wrong, it's entirely doable or not, but I believe bitcoin is over $100k.

[Findingnemo]

We can see the price of Bitcoin is going down gradually but no one wants to understand it depends on your stock market it is also a digital currency through digital transactions and it is currently in bad condition Elon Musk said in 1 reply on Twitter.  Bitcoin is as cold as winter you have to wait for this of course bitcoin price may go up at the end of this winter so be patient everyone.  So if we all wait and if we all hold on to what we have, it's going to get $30,000 to $40,000 by the middle of the year and get to a very good price and it could get to a hundred if we hold it tight, so everybody's disappointed.  Let's save Bitcoin by holding instead.

Stop being stupid, Elon is nothing but a crazy business man so all he is looking for will be more beneficial to him nor others so don't make your decision especially financial based with influence of someone. Do it only if you're ready to face the circumstances and FYI, bitcoin isn't dying and won't be but what I am saying is the history just repeating not because of Elon Musk.

Only Elon isn't able to change the flow of crypto currency. I'm agree with you that he is a cleaver business man who wants his benefits only. But at this stage, people are understanding his strategies. In this digital world, we have to think about digital currency and Bitcoin is the leader. It's not wiser decision to regret Bitcoin now.

Who told to ignore bitcoins from your portfolio what am I saying is don't get influenced by the popular business man like Elon Musk and who knows maybe next day he will make a tweet like " Oh no its bit higher than what it is supposed to be" and he did that kind of tweets in the past so its his pump and dump strategy so don't fall prey for his trap is my suggestion.

[ajochems]

When the price of bitcoin was targeted to the new price of 100k dollars, the price of bitcoin was reduced below 40k dollars. With some time period, the price of bitcoin reduced below the 20k dollars. It also get below the value of 16k dollars. Many dump happens in the market, now the market of bitcoin was pump to new value. Panic selling is not a good option at bear and bull market. So we need to hold the bitcoin at the critical situation, even when the price of bitcoin at the dump.