Treating bitcoin as a teenager.

[Lida93]

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.   

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[wallet4bitcoin]

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.

I've said this prior, the likes of MCaffee was much of a maximalist but his specuations about bitcoin still didn't come through, although he didn't have much facts backing his speculation rather than being a maximalist who has a sizeable amount of it.

We must give and allow time for Bitcoin to gain the traction and global acceptance it requires before certain projections can be achieved.

[Mate2237]

We can't stop the prediction now because it from the onset. And it is this high expectancy of prediction that making people to have hope and invest in it. So the prediction is necessary as for me. That expectation is interesting part of bitcoin. Yes as you said, bitcoin is still in it teenage age but it matured pass it colleagues in the ecosystem. I don't think the prediction can be moderated because there is a freedom of speech and everyone has the right to predict any amount of their choice.

It is the predictions that making Investors to come more so it will not discourage them but instead it bring more people to invest in it.

[CryptoHeadlineNews]

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.

Yes, it's true that Bitcoin is still a teenager, but a teenager that did out performed beyond the world's expectations by being a currency now widely use which has no barrier, and yet offers a smooth and a very fast means to transacting funds to people across borders in few seconds. However, those speculations you see people saying are what have occurred before while Bitcoin was still at more teenage age, and as such still likely to repeat it's in near future after halving.
Hence, if you can have a look at the image below, you will noticed that 365 days later after 2012 halving, the price of Bitcoin skyrocketed over 8,069%, and likewise how 365 days later after 2016 halving, the price of Bitcoin skyrocketed 284%, and same as 365 days after 2020 halving, how the price of Bitcoin went 559%, of which after 365 days after next year's 2024 halving, we are likely not to expect anything less than 200% increase in the price of Bitcoin



Image credit: Coindeck

[The Cryptovator]

I can agree on that; we have been expecting too much from Bitcoin lately. We can realise that when we see the current unrealistic predictions about the price of bitcoin. Bitcoin is unstoppable, and I admit it's on the primary stage yet. Bitcoin doesn't have mass adaptation yet, like the stock market. Bitcoin would reach $1 million as well, but we need a lot of time to see it. The world is moving forward with digitization, so our next generation will move with that. A lot of new investors, including institutional investors, are starting to move into Bitcoin. So yeah, once Bitcoin matures, we will see a huge impact.

[Baofeng]

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.

To be honest, I treat it as still in it's infancy, and as much as we predicted the price based on it's past performance, in just like 13 years of age, the data is still inadequate in my opinion.

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.

Yeah, just imagine if we reach like what have been predicted in the next bull run, of about $100k-$180 give and take. So think about it when we enter the following bearish market and the price goes and fluctuate around $50k-$75k, by standards it is still big amount for us specially those early bag holders and yet we can say that we are in bear market?

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.

On the contrary, if might just magnified what HODLing can really do for us in the long term. Very volatile asset but if we could just accumulate as much as we can and then see how it goes for us, whether newbies or experience investors.

[komisariatku]

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.

For me, people who have popularity definitely have an impact when talking about bitcoin, including predicting the price of bitcoin in the future. Although sometimes their predictions are off the mark and the price is too high.

More people predicting the price of bitcoin will create positive news for bitcoin and this will make it work organically and more people will do it interested in holding bitcoin. Influential people like Robert Kiyosaki and Elon Mask often exert significant influence when talking about Bitcoin or predicting Bitcoin prices.

[bluebit25]

Yep, the perspective from which the OP evaluates and considers it as a teenager is also very interesting, but I don't know for sure whether it has limited development or not, so I don't attach to it because I believe that the ability to develop is limitless.

Many years ago I was very confused when talking about Bitcoin, and to this day that confusion still remains, it's just that the process of being exposed to Bitcoin made me love the possibilities it solves and the way if we accept and apply it in specific industry fields. Currently, I personally still think that Bitcoin(crypto) is something very new, as not everyone knows about it, so understanding its operation is also far away.

[Nwada001]

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.

We can't moderate others minds, but we can moderate what we think  individually. We, as individuals, or, let me say, as bitcoinners, can moderate our own level of expectation towards what we want the price of bitcoin to be in the future, and this expectation is easily driven by recent happenings and speculation around the network.
 
But to some point we can't moderate the minds of those who are coming new into the crypto world, and even most old bitcoiners also fall into the same category of always expecting much from the network, forgetting the fact that too much expectation of something is equally what leads to disappointment.

Having too much hope that it will hit an exact price in a predicted period of time is really something craze for us to do. There is nothing bad in expecting an asset hold by someone to do well, but overdoing it usually has some negative effects when it doesn't happen as we expected it to.

[Lida93]

We can't stop the prediction now because it from the onset. And it is this high expectancy of prediction that making people to have hope and invest in it. So the prediction is necessary as for me. That expectation is interesting part of bitcoin. Yes as you said, bitcoin is still in it teenage age but it matured pass it colleagues in the ecosystem. I don't think the prediction can be moderated because there is a freedom of speech and everyone has the right to predict any amount of their choice.

It is the predictions that making Investors to come more so it will not discourage them but instead it bring more people to invest in it.

The high expectations predictions sure can be moderated provided we all respectively decides to be intentional with our predictions and not out of a freedom of speech as you stated and not using bitcoin price prediction as a medium to sell our personality and institution to public notice. Because I observe these millionaires we classify as whales pull up some of these figures from nowhere just to sell their name in the news.

Whether we predict the price so high or moderate new and more investors will continue to resurface bitcoin doesn't need our high predictions to attract in new investors. A good investor would have to do his own research and know for himself to invest in a project or not and not by what the crowd are chanting.

[passwordnow]

It is okay to speculate and predict with high predictions and that's what freedom of expression is. We all know that Bitcoin is still young considering that many people think that it's highly priced already and way too expensive for them to buy. But that's not the point, we're basing its performance in the past and those high speculations are basing it from there.

And it is a normal thing because bitcoin is highly speculative and this is what this market is all about, a speculative market just as how its main asset is in. I understand the point and people shouldn't expect a lot so when it isn't reached, you don't get hurt with your feelings. That is a good concern.

While the time passes by, you'll see more high price speculations especially when it starts to hit the 6 digits mark. That's where most of the gurus, crypto experts and even normal enthusiasts will be happy to predict their own numbers and it's going to be everywhere. This is one of the great beauty of this market, we're all free here, free to come, free to go, free to predict, free to listen but taking those it's all up to us.

[nakamura12]

While the time passes by, you'll see more high price speculations especially when it starts to hit the 6 digits mark. That's where most of the gurus, crypto experts and even normal enthusiasts will be happy to predict their own numbers and it's going to be everywhere. This is one of the great beauty of this market, we're all free here, free to come, free to go, free to predict, free to listen but taking those it's all up to us.

You forgot another free thing to do and that is free to buy any amount we want. I do agree with you that some people do say that it is expensive for them to buy but I think they are not thinking that you may buy in smaller amount and doesn't have to be a Bitcoin when they want to buy. I am sure you know what I mean about it and if they bought Bitcoin like $1000 then that's what they will have but the amount won't be the same as it depends on the price. Well see what they will do when it happen.

[passwordnow]

While the time passes by, you'll see more high price speculations especially when it starts to hit the 6 digits mark. That's where most of the gurus, crypto experts and even normal enthusiasts will be happy to predict their own numbers and it's going to be everywhere. This is one of the great beauty of this market, we're all free here, free to come, free to go, free to predict, free to listen but taking those it's all up to us.

You forgot another free thing to do and that is free to buy any amount we want. I do agree with you that some people do say that it is expensive for them to buy but I think they are not thinking that you may buy in smaller amount and doesn't have to be a Bitcoin when they want to buy.

Yeah, thanks for adding that. We're free to buy any amount at any time. That's also one of the best things that we can always remember about Bitcoin. People think of the high price but they don't want to dive in and believe that they can buy at any price that they wish to when they have the money ready to buy in for the market.

I am sure you know what I mean about it and if they bought Bitcoin like $1000 then that's what they will have but the amount won't be the same as it depends on the price.

Yeah mate, no worries. I understand it and that's what they're also missing when they just look at the projection of the price of Bitcoin and then forget everything about it. They can buy cheaply but of course they'll only get a certain quantity of Bitcoin since the price is higher but they're forgetting that many times Bitcoin got into a bearish turn and they did just ignored it.

Well see what they will do when it happen.

What they like to do is to buy when it's moving up because FOMO is real by that time.

[btc78]

We can't stop the prediction now because it from the onset. And it is this high expectancy of prediction that making people to have hope and invest in it. So the prediction is necessary as for me. That expectation is interesting part of bitcoin. Yes as you said, bitcoin is still in it teenage age but it matured pass it colleagues in the ecosystem. I don't think the prediction can be moderated because there is a freedom of speech and everyone has the right to predict any amount of their choice.

It is the predictions that making Investors to come more so it will not discourage them but instead it bring more people to invest in it.

that’s true
but it could also drive away beginners thinking it’s too good to be true especially if the price is way too high or maybe even think that cryptocurrency in general is a scam 

i think we all should aim to teach new investors the risks and how they should manage their expectations or lest they make the wrong decisions

[serjent05]

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.

This is what we call speculation and I don't know why it is discouraging for investors.  Since many investors see huge potential in the Bitcoin market, being a teenager as discussed, it has huge potential to grow way more than our expectation.  Like a promising genius teenager, parents and people who knows this genius teenager will also predict and expect great things from this teenager. 

In short, it is normal to expect something great if the performance of Bitcoin shows great things.  It should not be a discouragement for investors but rather it should be an encouragement to hodl and accumulate more Bitcoin to get more profit in the future.

[Dr.Bitcoin_Strange]

Your logic is quite interesting, but it is what it is. Bitcoin is still young, but many people wants it to be worth a million even before it turns 18 years old, when we can actually consider it a full adult. Although it's just a lot of speculation for some people, for those who actually take those predictions so seriously, they end up getting disappointed if the price actually doesn't get to what they had expected. For me, I accept my faith in whatever outcome I get and am not very bet on resting my hope on one thing. Let's assume that Bitcoin doesn't get to $100k this coming bull market. I don't see myself getting affected in any way unless the fact that I might not actually achieve the profit I was expecting means that if I don't get the profit, I could still sell off some holdings and wait for the bear market to buy more.

[Assface16678]

The ones that expect too much from bitcoin and complain if they don't get what they expect are the new ones. I mean, they've entered bitcoin lately because of the hype. They joined it and invested in it, thinking that in an instant they could earn a lot from it, but it's not. That's why they are the ones that complain too much about bitcoin, but for those who're in bitcoin even at its lowest price, they understand a lot about bitcoin, like what the OP says's bitcoin still has a lot of potential in the future. Imagine that bitcoin is still strong after several years, indicating that bitcoin will still be strong and has the potential to grow. What I'm referring to is its technology; bitcoin can still be used in many things; we never know. That's why I don't listen to the people who complain too much about bitcoin, because I know they are the inpatient ones.

[thecodebear]

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.

To be honest, I treat it as still in it's infancy, and as much as we predicted the price based on it's past performance, in just like 13 years of age, the data is still inadequate in my opinion.

Yep. While Bitcoin may be a teenager in human time scale, at 15 years now, in terms of its own maturity it is still far from adolescence. I'd say its not quite an infant anymore, I'd say it broke out of infancy in 2017, but definitely like little kid stage haha. By the mid-2030s, when the average person doesn't think Bitcoin is a scam, or doesn't think the last peak was the highest Bitcoin will ever go, or thinks its going to zero, or its outdated old tech, or its illegal, and when it becomes normalized to own Bitcoin, then we could say Bitcoin is reaching is in its teenage years. Adulthood for Bitcoin would be when its actually normal and common to buy things with Bitcoin, but that'd probably like 20 years out from now. It's still a little kid for now.

[OcTradism]

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.

Believe in yourself and to have solid belief, you must have knowledge about Bitcoin. Most important thing to master is Bitcoin's Controlled supply.

From Wiki, you can expand your knowledge about it with How is the 21 million Bitcoin cap defined and enforced? and Bitcoin Equivalent Network Time

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.

Consider Bitcoin as Bitcoin and don't try to consider it as a teenager or adolescent or elderly.

The bullish case for Bitcoin.

Talk about Bitcoin and Internet, Bitcoin has a sharper adoption curve than Internet.

[DanWalker]

~snip~

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 see any inequality in bitcoin when people compare it to assets like gold or real estate. Many people even confidently believe that bitcoin is better than everything and superior in every aspect from profits to safety, no asset can surpass bitcoin. LAUGH!

You're right, not only do people have too high expectations for bitcoin, but many people even over-exaggerate about bitcoin. They not only expect bitcoin to reach 1 million dollars or 1 satoshi will be equal to 1 USD, but they also want bitcoin to save the world from poverty, reduce unemployment and bring peace to the world...they ask for too many things that are beyond what bitcoin is capable of.