You sure bitcoin/crypto isn't losing popularity to sustain whopping 16K coins?

[S A KHAIR]

To sum up my point here, everyone hates bitcoin and crypto right now and I don't see it changing.

If what you say is true then I will be more excited than scared like you. I want people to fear or hate bitcoins and they should sell all their bitcoins so that I and those who believe in bitcoin can buy bitcoins cheaper. You need to remember that wealth is not for the masses so it is understandable that people are afraid of bitcoin and it is a sign that we are very close to the bottom. I am taking advantage to buy bitcoin more than ever instead of being scared and hearing rumors from people who know nothing about bitcoin.

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[STT]

and I don't see it changing.

That would be the problem then, you have to develop some foresight beyond current negativity.   Everything you said is fair but will it always be this way no, sentiment will change and its often been the case that is how we unfold news.    Separate the reaction from the actual lasting impact because FTX is the same mistakes of a centralized site not the protocol so BTC has had far worse even if the graph is bad its relative to rising dollar etc.

[Pierre 2]

OP, as you know you mention average people with "everyone". Most people in world are dumb when it comes to events with money - it is one of reasons why minority is rich meanwhile. People can be lost when they think about bad events as nightmares. But I am sure you would agree that FTX issue isn't gonna stay with us forever. Its opportunity to buy more Bitcoin when situations like FTX happen. Even Mt. Gox didn't kill crypto markets but it actually helped some smart people to become rich.

[Fara Chan]

OP, as you know you mention average people with "everyone". Most people in world are dumb when it comes to events with money - it is one of reasons why minority is rich meanwhile. People can be lost when they think about bad events as nightmares. But I am sure you would agree that FTX issue isn't gonna stay with us forever. Its opportunity to buy more Bitcoin when situations like FTX happen. Even Mt. Gox didn't kill crypto markets but it actually helped some smart people to become rich.

I'm still pretty sure that bitcoin won't lose its popularity forever, even though people continue to associate this issue with FTX. The correlation presented by the OP seems inaccurate, when it is associated with Bitcoin in general and only looking at the current conditions that are currently taking place. Many previous cases happened on other Exchanges, but Bitcoin is still finding its way to recovery and I quite agree with what you said, that FTX cases will go away on their own in the future.

[fuguebtc]

OP, as you know you mention average people with "everyone". Most people in world are dumb when it comes to events with money - it is one of reasons why minority is rich meanwhile. People can be lost when they think about bad events as nightmares. But I am sure you would agree that FTX issue isn't gonna stay with us forever. Its opportunity to buy more Bitcoin when situations like FTX happen. Even Mt. Gox didn't kill crypto markets but it actually helped some smart people to become rich.

I'm still pretty sure that bitcoin won't lose its popularity forever, even though people continue to associate this issue with FTX. The correlation presented by the OP seems inaccurate, when it is associated with Bitcoin in general and only looking at the current conditions that are currently taking place. Many previous cases happened on other Exchanges, but Bitcoin is still finding its way to recovery and I quite agree with what you said, that FTX cases will go away on their own in the future.

Perhaps OP isn't a longtime investor like us, he hasn't experienced bear seasons before nor witnessed the death of Mt.gox. I really don't care what people think when they look at the crypto market right now and I don't want to give any explanation for the death of FTX, I think time will be the best answer they will get. Did Bitcoin really lose its allure, or did they miss a golden opportunity? Will time tell? I like the saying "wealth is not for the masses". It would be selfish but if everyone believes and holds bitcoin, who will sell it to us?

[Fara Chan]

Perhaps OP isn't a longtime investor like us, he hasn't experienced bear seasons before nor witnessed the death of Mt.gox. I really don't care what people think when they look at the crypto market right now and I don't want to give any explanation for the death of FTX, I think time will be the best answer they will get. Did Bitcoin really lose its allure, or did they miss a golden opportunity? Will time tell? I like the saying "wealth is not for the masses". It would be selfish but if everyone believes and holds bitcoin, who will sell it to us?

If the law of supply and demand still held, there would be no need to worry about who would sell the bitcoins, even if everyone preferred to hold them. In simple cases, it may be true that crypto is losing traction in the market, but that only involves cryptocurrencies that lack fundamentals. But for bitcoin will never experience this. It could be that the OP really never had a bear season before or after the death of Mt Gox, bitcoin has found its way quite a long way since the previous few years.

[fuguebtc]

Perhaps OP isn't a longtime investor like us, he hasn't experienced bear seasons before nor witnessed the death of Mt.gox. I really don't care what people think when they look at the crypto market right now and I don't want to give any explanation for the death of FTX, I think time will be the best answer they will get. Did Bitcoin really lose its allure, or did they miss a golden opportunity? Will time tell? I like the saying "wealth is not for the masses". It would be selfish but if everyone believes and holds bitcoin, who will sell it to us?

If the law of supply and demand still held, there would be no need to worry about who would sell the bitcoins, even if everyone preferred to hold them. In simple cases, it may be true that crypto is losing traction in the market, but that only involves cryptocurrencies that lack fundamentals. But for bitcoin will never experience this. It could be that the OP really never had a bear season before or after the death of Mt Gox, bitcoin has found its way quite a long way since the previous few years.

I don't know where people look to say that bitcoin and crypto are losing traction, we are in bear season, and this has happened many times in the past. To me, each bear season is like a test, weak hands or weak projects should leave the market, and only those who are really strong enough to stay.

If we want to grow, we want to be more mature, we don't need people who want to get rich quickly because once they make money, they will also leave the market. We need people who want to build the crypto industry and believe that bitcoin is the future revolution.

[buwaytress]

To sum up my point here, everyone hates bitcoin and crypto right now and I don't see it changing. I've never seen more negativity and FTX made everything a lot worse.

"everyone hates bitcoin and crypto" -- I'm almost willing to bet that most of these haters:
- actually got burned by using crypto in the very same way they've been using legacy finance (centralised lending and interest bearing services, speculating on assets with no underlying value, not interacting with decentralised networks).
- never actually used bitcoin.

Actual Bitcoin users have always been slowly, steadily, using and growing and improving. Sure, they're upbeat and as cheerful as everyone else in a rally, and muted in a bear market, some are even enjoying bargain prices.

[suzanne5223]

When I read the comment section of any news article about crypto, its mostly people calling a ponzi scheme, a scam, do not invest.

There is so much negativity to crypto out there right now, especially with FTX, that its hard to see how 16K a bitcoin price can even hold. Most people that know nothing about bitcoin and how it works, but keep talking about the FTX scam and the fake monopoly money, the Ponzi scheme, I'm sure you heard it all.

In order to sustain these high 16K prices, high when you consider bitcoins were so much cheaper just a short time ago in the past, you will need a lot of people buying it and becoming interested in it.

I own close to 2 bitcoin now, purchased in the last few months so I'm under water on my investment, and am worried that bitcoin has run its course and now its just all downhill from here. I slowed up my bitcoin buying at this point because I see all the negativity out there.

I may purchase more at 10K though as that is what most people think we are heading to, even on this forum.

First, you need to understand how the human mind works when they don't understand something and all they can see is the negative aspect of it.
Second, you don't need to worry about something you cant control because if you do it will hinder you from making the right decision and for the record if you check the previous market correction (total bearish) it is always triggered by a negative news or a disaster incident but it always dont stop the market from making a come back when it halving season.

To sum up my point here, everyone hates bitcoin and crypto right now and I don't see it changing. I've never seen more negativity and FTX made everything a lot worse.

That's not correct. Only naive people will hate BTC and crypto now. Besides, why are you planning to accumulate more BTC if it downtrend to 10K price? Are you not among the everyone?

[doomloop]

Perhaps OP isn't a longtime investor like us, he hasn't experienced bear seasons before nor witnessed the death of Mt.gox. I really don't care what people think when they look at the crypto market right now and I don't want to give any explanation for the death of FTX, I think time will be the best answer they will get. Did Bitcoin really lose its allure, or did they miss a golden opportunity? Will time tell? I like the saying "wealth is not for the masses". It would be selfish but if everyone believes and holds bitcoin, who will sell it to us?

If the law of supply and demand still held, there would be no need to worry about who would sell the bitcoins, even if everyone preferred to hold them. In simple cases, it may be true that crypto is losing traction in the market, but that only involves cryptocurrencies that lack fundamentals. But for bitcoin will never experience this. It could be that the OP really never had a bear season before or after the death of Mt Gox, bitcoin has found its way quite a long way since the previous few years.

In economics, there will always be a law of demand and supply. It will never be broken or disappear, so as here in the financial market as it was still part of the economics though I think it will also depend on the product or the asset. If it has no solid fundamentals then it's normal that it won't get a demand so its value is going to collapse but for coins such as bitcoin, there will always be a demand for it due to its statistics or bio.

Worrying will always be there and people are worried when big institutions or famous personalities are selling their btc but their worry shall soon subside as the market can always recover. @OP 16k per btc is too small so obviously it will be sustained. Crypto's popularity isn't losing but this was only the start actually.

[Newlifebtc]

Whoever that said that bitcoin is losing its potential at in the market I think that that person is making ever happened in the send that bitcoin is increasing every day by Day by itself

[Vinaa77]

To sum up my point here, everyone hates bitcoin and crypto right now and I don't see it changing. I've never seen more negativity and FTX made everything a lot worse.

I think if they are experienced in terms of crypto investment, of course market conditions like this will keep them relaxed. They will enjoy the bear market in part to increase the amount invested in crypto. Without realizing it, the market is currently giving us opportunities. If crypto prices increase continuously, of course very few new investors will be able to enter the exchange to invest.

[hugeblack]

The more negative the news, the closer the end of the bear market is, and vice versa.
Therefore, if we do not reach the bottom, we are close to it, and therefore it is difficult to witness a price collapse to levels such as $10,000 at the present time, and in order to reach those levels, we really need very bad news.

In general, as long as you decide to invest in the long term (after 2025), it can be said that you are safe.

[ShowOff]

The more negative the news, the closer the end of the bear market is, and vice versa.
Therefore, if we do not reach the bottom, we are close to it, and therefore it is difficult to witness a price collapse to levels such as $10,000 at the present time, and in order to reach those levels, we really need very bad news.

In general, as long as you decide to invest in the long term (after 2025), it can be said that you are safe.

I don't think $10K will hit us any time soon or during this bear market. We know that the countdown to the next halving is fast approaching. As a result I believe that the price will be higher as the demand for the coin increases in the market, so this is a cycle that will occur in the next year and we will be back in another ATH.

Each of us right now may be doubtful and worried about the possibility of a bottom price, but really we are just in a cycle where it can be used to buy more bitcoins instead of spending money on something that is not really needed. Every $10 for bitcoin today will be worth more in the future but of course we are only talking about the good possibilities for the future. Optimist, of course we should be.

[_BlackStar]

-snip-
Every $10 for bitcoin today will be worth more in the future but of course we are only talking about the good possibilities for the future. Optimist, of course we should be.

It's true, the future of bitcoin is actually uncertain and anything we talk about today about the future is speculation as to whether it may or may not be achievable. The profit that will be generated will be based on how high the price can be touched, I mean if today $ 10 is invested, then if next year the price can touch $ 35K then the investor will get 100% profit from his investment. But back to basic thinking, who is going to guarantee $35K price tag in 2023 or in the future? Obviously not, but as bitcoin continues to be traded and its adoption as a means of payment continues to grow, so optimism about the future will do just fine.

You, me and others became investors because of the trust that this bitcoin cycle will repeat itself and thus be profitable. It's okay if today the price drops below the ATH even by 70%, but when the bullish cycle returns, we will take profits.

[Fatunad]

The more negative the news, the closer the end of the bear market is, and vice versa.
Therefore, if we do not reach the bottom, we are close to it, and therefore it is difficult to witness a price collapse to levels such as $10,000 at the present time, and in order to reach those levels, we really need very bad news.

In general, as long as you decide to invest in the long term (after 2025), it can be said that you are safe.

There's no assurance no matter how Bitcoin does have the potential.We cant really pinpoint on what would be the year and we cant make or draw up conclusions whether we would be seeing
some recovery or change trend for upcoming months or years.There's no way that someone could tell on what would happen in the this market. Anything is possible if we do speak about price
which neither it could hit up down again as low as 10k or even lesser.Fundamentals and news could really make out that kind of effect and would be driven out by fear
where the entire community will really be going or playing along.

[CryptoBuds]

To sum up my point here, everyone hates bitcoin and crypto right now and I don't see it changing. I've never seen more negativity and FTX made everything a lot worse.

Positive news will always appear during the bull season to make people Fomo and negative news will always flood the market during the bear season. This has always been the case for the past 14 years and it will never stop, when the bull market comes, you will see a lot of positive news and people will rush into the market again.

The reward is not for the weak hands, so I don't recommend you or the negatives to stay in the market. If you don't believe in bitcoin, you can sell your bitcoin and leave the market. The market is a battlefield, there will be winners and losers, that's how the financial market works, you should know that before investing. When you and many negative people sell bitcoin, there will be people like us waiting to buy bitcoin for cheaper.

[ethereumhunter]

Let's just let people think that bitcoin can't survive the current situation. In the meantime, we can continue investing in bitcoin because we get a discounted time when the price of bitcoin can decrease. In the future, the price of bitcoin may not be where it is today. So we still have time to invest while others still doubt the capabilities of bitcoin.

If you already have almost 2 bitcoins, you can continue investing in bitcoin until you have 2 bitcoins and hold them until the price increases again. We should use the current opportunity to buy more bitcoins while we still have time.

[PrivacyG]

You know, a lot of people think Bitcoin's price is just created out of thin air.  Like the market woke up today and decided it's $1,000,000, no more $16,000.

Bitcoin's minimum price per year is almost always close to the minimum cost of mining a Bitcoin.  Bitcoin costs to mine, it is not free.  This reason alone is enough to understand Bitcoin has a not so random price.  $16,000 is not just a random price, $60,000 was Bitcoin with a premium.  If Bitcoin falls under $10,000, it would make no sense for miners to continue mining.  They NEED Bitcoin at these prices.

And as long as there are people paying for it, Bitcoin will not cease to exist.  I will pay for it.  Even if it was $50,000 or $100,000, I would still continue buying it.  And many others here would and wil as well.

-
Regards,
PrivacyG

[tabas]

OP has point about the market hate but to correct that a bit, it's been there ever since. Bitcoin has been named a ponzi, an internet scam and fake money since before. And even said to be dead for how many times, so many times.
Well, we can't ask for more hate because it will never be gone. If the past haters have changed and became investors too, there will be new sets of breed for the new generation of haters and the cycle goes on and we just have to live with it no matter how ugly the situation of the market is.