Treating bitcoin as a teenager.

[Lucius]

~snip~
We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

People talk about anything and everything, and with regard to social networks and the increasing availability of the internet even where it was not available before, it gives the impression that everyone is talking about Bitcoin, but I think that it is still something specific and depends on the country and society. It may sound strange (to you and some others), but in the global economy Bitcoin is pretty much irrelevant (for now), if we take into account any criteria - be it the value expressed in numbers or maybe the total number of people involved in some way in BTC. For comparison, the US military budget is larger than the BTC marketcap.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

Maybe everyone should treat Bitcoin for what Satoshi invented it for, not just a profit generating instrument? I don't want to be a hypocrite and say that Bitcoin is not a good way to store value, but we have to use it as a currency as much as possible, regardless of what some will say that the fees are too high or will find some other excuse. By the way, gold has been present among people for thousands of years, and it should not be compared to Bitcoin in the way that some persistently do.

[Rruchi man]

Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

If you create something new, and form a business around marketing that thing, within a ten year window, if that product or new creation is not selling, it is usually seen as a failure. Many people see bitcoin like that and so because bitcoin has been in existence for more than ten years, they consider bitcoin a failure. It is a wrong impression they have about bitcoins because asides treating bitcoin as a teen, bitcoin is something that is revolutionizing, and totally against the long financial systems that took time to establish. We should not expect it to be very successful at once when it was not created by the government. We should however celebrate the little successes that it is achieving because it is all accumulating to something huge.

[m2017]

I have read many articles exaggerating bitcoin price prediction's from both those who claim to be professionals and diverse bitcoin enthusiasts which I felt the necessity within to drop this piece figuratively.

Such articles appear and these experts become animated as soon as a bullish trend looms on the horizon. This is white noise.

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

The cryptomarket (bitcoin) is still very young, it's true, but it's expanding and getting stronger every year.

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

Inflated expectations spoil the impression of the current increase in the bitcoin price, which, by the way, over these 15 years has demonstrated colossal growth that no other financial asset can show. You are right, when bitcoin fans shout that btc will soon reach the $100k (this value is quite likely), $150k, $200k or even $1M mark, this only harms smooth and gradual progress. Bitcoin's performance is very good, but these pseudo-forecasts create the illusion that growth is not significant. Investors need to soberly assess the situation and not blindly believe such premature forecasts.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

Gold has been a financial instrument not for decades, but for centuries, if not more.

[HONDACD125]

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

It's not Bitcoin fault if someone has wrong expectations or makes wrong predictions about Bitcoin. Rather, I would say that the predictions of such people will be wrong, and we should not have expectations that do not seem possible. Bitcoin performance has never been bad, but till date Bitcoin has given huge returns to every investor who has invested at the right time.


​Investors who plan long-term holdings should also be aware that the price of Bitcoin fluctuates, and may not meet their expectations in a few months or year.Just as Bitcoin is predicted to go to $100k this bull season, now if someone is predicting or expecting to go to $1 million, the probability of Bitcoin price going there is very low. Therefore, such expectations should be revised.
There is no doubt that gold has been used as an investment for decades, but due to Bitcoin unique features and high profitability, it is being preferred over gold.

[DaNNy001]

Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

If you create something new, and form a business around marketing that thing, within a ten year window, if that product or new creation is not selling, it is usually seen as a failure. Many people see bitcoin like that and so because bitcoin has been in existence for more than ten years, they consider bitcoin a failure. It is a wrong impression they have about bitcoins because asides treating bitcoin as a teen, bitcoin is something that is revolutionizing, and totally against the long financial systems that took time to establish. We should not expect it to be very successful at once when it was not created by the government. We should however celebrate the little successes that it is achieving because it is all accumulating to something huge.

I don't know about you, but I wouldn't call the achievement that Bitcoin has gotten, a little one because other cryptocurrency has been in existence with it but the difference has been always clear on the price and massive adoption that Bitcoin has gotten over these little crypto so I don't think Bitcoin achievement for the 14years it has been in existence is something not to talk about because it clearly shows that the coins is growing and others are struggling behind it.

[pawanjain]

Even I keep iterating this over and over again that we all are still early into bitcoin.
The volatility is high and as time goes on more people will keep investing in bitcoin and thus the volatility will reduce.
The marketcap will increase a lot and so buying now as much we can would turn out to be more profitable in the future.

[Renampun]

I have read many articles exaggerating bitcoin price prediction's from both those who claim to be professionals and diverse bitcoin enthusiasts which I felt the necessity within to drop this piece figuratively.

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

A number of persons might suggest i move the topic to speculation board, however I fondle it also suites here because the topic is not giving a prediction for BTC price but otherwise.   

I find that you suggest that all of us adopt Bitcoin while it is still in its very early stages, I strongly support that. Bitcoin is still not recognized by many countries, but countries that currently recognize Bitcoin as legal tender have received extraordinary benefits. I am sure that in the future more countries will adopt Bitcoin and make it legal tender. Bitcoin will not be stopped with FUD. The fact is that Bitcoin is already stuck in the minds of billions of people in the world, all people can do about Bitcoin is accept it.

[Rabata]

Even I keep iterating this over and over again that we all are still early into bitcoin.
The volatility is high and as time goes on more people will keep investing in bitcoin and thus the volatility will reduce.
The marketcap will increase a lot and so buying now as much we can would turn out to be more profitable in the future.

We can certainly still be considered early investors in Bitcoin. Although many of us have not invested in Bitcoin since its inception, those who invest now will be close to a dream come true in Bitcoin in the next few years. Bitcoin is now at $35k or little more but when it reaches 1 million there will probably be many investors who will regret it. Considering the future, those who prioritize holding Bitcoin for a long period of time can certainly be one of the successful Bitcoin investors. For those still looking for a dip in Bitcoin, now this is the proper time. Accumulate bitcoins as much as possible.

[EluguHcman]

I concur with you OP. This certainly is as outside the World of Bitcoin but of other investments where investors are mad at their crawling incomes because they expected it speedy.
Since I learnt that not all that glitters are gold and what is Worth worthy with good reputations always demands time to get to the hill of its great view.
Most persons are also not contented with the minimum value of incomes  they generates from their investments which opts them to divert to another and before they realizes, they would taste the whole of the business sectors with no hold of valuabilty.

Bitcoin is a reputable investment which is not biased in-between its investors how by, it does not require your interpersonal marketing skills to make profits but derives its  form of energy to create profits at considering its demands, supplies and of course the users. This basically determines the value rate of the Bitcoin.

Let no one panic at Bitcoin on whatever value it is rated because it is not specified to favor a faction of its investors instead it is considered that when Bitcoin is at a low rate, it attracts more investors to come into the industry and when it is high, it termed to bring increments to its investors.

I would rest my case to say that on what ever note Bitcoins value is rated, it is termed to favour its investors and its potential investors.

[Faisal2202]

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

You have made a valid point, we should not expect from someone either its an entity's or asset's performance, we should not expect more so that in the end we have to disappoint. As you said many people will say BTC performed badly while their expectations are BTC will reach $150k or $1M (I mean really).

That's why knowledge matters as if they would have some knowledge of trading volume or market cap etc. in comparison to the real-world assets then they will expect less. For example few days back one of my UNI fellows asked me can BTC reach $1 Million I said yes but not in 40 years. Because to reach that point it needs a hell lot of market cap and investment in. I might be wrong here but it is what it is.

We can't expect it to reach the moon when there is no fuel in its engine. I hope you got my point here. However, my expectations for BTC are it can reach around $100k in the upcoming bull run and that's due to a number of factors.

[ZAINmalik75]

You are right, we should not expect more from BTC because expectations of it to gain $1 million is insane but we all know this is just a trick of the big analyst to trick newbies into thinking that BTC is in hype and might reach at least near to $500,000 or near it. Because they are the ones who made such predictions that BTC could reach $1 million dollar or could cross $200,000 easily. 

It is necessary for all of us to learn about BTC and what factors derive its price and what factors can lead it to $1 million which in my opinion are not present in its current state.

By the way, if we think about how old is BTC and how far it has come then we can say it really exceeds the results of gold or stocks which have been in the market for several decades. BTC market is really giving huge competition to them and has made more money for its users even the small ones.

[BITCOIN4X]

Even I keep iterating this over and over again that we all are still early into bitcoin.
The volatility is high and as time goes on more people will keep investing in bitcoin and thus the volatility will reduce.
The marketcap will increase a lot and so buying now as much we can would turn out to be more profitable in the future.

Of course, but it requires good planning and making decisions as wisely as possible regarding this investment. You should not ignore any risks involved, in fact you should not ignore regulations and rules that may prevent you from utilizing Bitcoin to make a profit.

So far bitcoin is starting to gain the attention of many people and it will continue to increase over time. Governments are starting to benefit by creating rules and approaches that benefit the state by taxing the returns of traders and investors, but they can change legal regulations to illegal ones whenever they want so that risk should not be ignored.

[Antotena]

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

I don't blame people that are expecting much from bitcoin, I think it is because they got spoilt y the return of bitcoin and they are already use to such kind of lifestyle. Look outside crypto, there is no any other investment that has given a return like crypto and still remain functional, most of the ones that did were Ponzi schemes and they are long collapse and gone but after 13 years of servicing humans worldwide, it is as if its still starting like it has not done anything for the people.

Another problem is that over the years, some institutional investors were jealous of how bitcoin has produce young millionaires and they don't like it, they have called bitcoin to be dead many times but it still standing to day, they have decide to join the movement, that is why we see representatives from BlackRock and the rest fighting for ETF, these people are the new investors in town and they are on the verge for the same profits it has given people in the past but festival is a thing of the past, bitcoin will grow but the days of making 400% in two weeks is gone except for shitcoins.

Hold, if you must and trade if you must trade but nothing is going to stand in the way of bitcoin, it might not be soon but I know that it is when you don't expect the growth it does appreciate in value. For example, look at people that bought the botton by now shold have 2X there investments by now, this is how sweet been patient is with bitcoin.

[noorman0]

So what to expect when bitcoin reaches maturity, more stable prices, wider adoption? If so, treating bitcoin according to age is appropriate for those speculators, regardless of whether they overestimate the price. In fact, the price of bitcoin is very volatile because adoption is still relatively narrow, this is like a teenager with an unstable way of thinking.

[Dr.Bitcoin_Strange]

People who only speculate about the price of Bitcoin that can reach $1 million or even more because they are too obsessed with Bitcoin and want Bitcoin to reach that price. For me, I don't really expect an unreasonable price for now.

Just $100k if it is really achieved is my first target point.
But if as you said, Bitcoin is not able to reach the ATH of $100k and tends to be below that is certainly not a problem,
$80k-$90k is a good enough price to take some profits.

You know, the OP actually had a great point, because I don't personally tire of all my hopes or goals to my investment in Bitcoin. I know that too much expectation can bring disappointment, and the fact that Bitcoin has actually dominated the space as if it's a technology that has already been around for about 50 years, like OP said, but we should not take that because of that and see Bitcoin as what can bring the price we want it to. It could be that we are not even going to get to $150k this bull run, but let investors just take the best decision before investing so that they don't get disappointed at the end, like those that bought at $68k with a very high hope that it will get to $100k. I know that I did not buy my Bitcoin at a very high price like $60k, so even if I see $80k, I can sell some fractions and hold on to see if the surge will continue, and if it does, I will sell too at $100k and so on.

[Obari]

You’re right op and I’ve also been on the opinion over time that over pressure on bitcoin isn’t the right thing to do and just as the saying that over expectations leads to disappointment which is strongly visible in bitcoin and crypto market of today and I think most of the people with very high expectations from bitcoin aren’t actually or maybe really bitcoin enthusiasts but rather ill talkers who are always looking out for negative comments to drop about bitcoin and I think bitcoiner are paying more attentions to the flaws and not seeing the growth and height bitcoin has achieved in just a very short time.

[Spaceman1000$]

I have read many articles exaggerating bitcoin price prediction's from both those who claim to be professionals and diverse bitcoin enthusiasts which I felt the necessity within to drop this piece figuratively.

We are expecting too much from bitcoin in just a short time of about 13years since it's creation. By logic bitcoin is just a teenager who has not yet attained the status of adulthood like the forex market for example, yet it has penetrate and saturate the financial market (global economy) becoming the talk of the town in the internet like it has been here 50 years ago.

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

And this can be so discouraging for investors that planned on long term hodling with such a high expectancy. Learn to treat bitcoin like a teenager that's just coming up and still has its future ahead of it and stop the unequal comparison with other financial instruments like gold that have been around for decades.

A number of persons might suggest i move the topic to speculation board, however I fondle it also suites here because the topic is not giving a prediction for BTC price but otherwise.   

I had the same thoughts going through my mind sometimes back, as people place too much emphasis on the expectations on Bitcoin and they've already gotten a certain price tag that they're expecting in the next bull run to which I've asked, what if it doesn't go as you've predicted, hope you will not be disappointed, hope you will not find it to say your investment did not go as planned because, the price didn't exactly go the way you want it. bitcoin is still expanding considering how long it has been on the market. So I agree that People should take a chill pill on their expectations.

[JoyMarsha]

If you had paid attention seriously to what people were expecting from the price of bitcoin, you would have come to the conclusion that Bitcoin is no longer a teenager but rather an adult that is ready to make people wealthy overnight. Even still, I laugh at individuals who are already assigning a random amount to bitcoin, not because I find it amusing, but rather because I know it will eventually reach that level.

Everything happens one step at a time; people shouldn't act in a rush or assume that they will always receive the high price they seek in Bitcoin without adhering to the economic principle that says that prices of things rise in response to demand.

Global demand for bitcoin is growing, and institutional investors are moving into it as well. The cost and demand for it are gradually rising. By the next two years, the price should be between $100k and $150k.

[hatshepsut93]

You are comparing Bitcoin's age to human years, while instead you should be comparing it with recent emerging technologies. And those technologies go from infancy to mainstream in 10 years or so. Bitcoin is already mainstream in terms of awareness - most potential users have already heard about it, but chose not to adopt it. I seriously doubt they will suddenly change their mind about Bitcoin without any sort of event that could force them to do so, like a global hyperinflation which is quite unlikely. I personally believe Bitcoin has entered its adoption plateau and not a lot of new people will be buying their first Bitcoin each year.

[justdimin]

The high expectations should be moderated so we can be able to appreciate the milestone growth bitcoin price has made. Commensurable with its age bitcoin price is doing great and only those who are not highly expectant setting their price  scale at a great distance of 100k, 150k, 200k will care to appreciate the feat, some even predict as high as $1M in the next bull run and when the price doesn't go even close as expected they complain that the performance of bitcoin has been poor.

Since the anticipation of a new all-time high in bitcoin has been mentioned in this forum and on online platforms, I have exclusively considered bitcoin as an investment that I am confident will provide a decent return. I don't set or expect the price to achieve a specific figure; all I know is that bitcoin will surpass its present all-time high and establish a new value that no one can predict. To decrease the likelihood of disappointment, I remind myself that anything I invested in bitcoin before to the bull run would have yielded some profit, which is fine with me. Setting price standards for bitcoin will only leads to dissatisfaction of bitcoin performance which is not yet old to be expecting wonders from it.

Do not expect a specific figure, but it is true that we are going to see higher, and most probably higher than ATH as well. Which means that, if you wait for a while, in the next 2 years, we are going to see above 70k. That is what I can say about bitcoin, that is a good thing, expecting it to grow to more than double in the next 2 years is as good as it gets and should be fine, I get that it is not going to be all that shocking, because people are already expecting that.

The fact that we all know that we are going to make more than double of our money, maybe quadruple of our money, in the next two years, is a big deal and should be important in the end. I personally do believe that it is going to be fine, and should be noted down eventually.