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Author Topic: Bitcoin is performing just fine currently  (Read 819 times)
Finestream
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July 07, 2024, 09:56:15 PM
 #81

Many people seem to be quite naive and still give high expectations of the Halving that can make bitcoin shoot to a higher price but they are not aware of the volatility that is owned especially with the previous rapid rise of bitcoin from the price of $15k to the price of $71k it is clear that there must be a correction first to make them resume their rally.

But in the end many of us hope that bitcoin continues to accelerate to a higher price so we don't want to accept and always panic when bitcoin is at a price that shows a temporary decline. As you said in your title, currently bitcoin is fine, there is no need to worry about anything for now because we are still in a comfortable zone and we only need to enjoy the process so that when we reach the finish line we can feel the sweet taste of the process we are doing.
Bitcoin is still currently fine, what we are seeing today is just part of its price correction and once it's over, we will witness a good price again eventually. However, not everyone has the same mindset. Some might panic with this current price decline, but others remain calm and still hopeful. But in general, I believe bitcoin is still doing good, regardless of how its price is experiencing a current decline these days.

Casdinyard
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July 07, 2024, 09:56:23 PM
 #82

Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views

Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?

I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.

In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.
It is not moving fast enough, you said it yourself. The thing is that bitcoin's trend is upwards, exponential even, which means this current trend is not up to par nor to the expectations of the people within the space, especially those who expect bitcoin to be at a solid 80-ish or 76k at the very least this point in time.

At the end of the day, nothing too out of the ordinary, nor a cause for concern, we're still on trend, for one. There's always a massive decline in bitcoin price after the halving, we haven't gotten that until a few days ago, and we're expected to test this before we can really get going.

People shouldn't focus too much on the statistics nor the numbers cause bitcoin's more dependent upon the people who invests in it rather than the market behavior. If we start paperhanding now we'll definitely lose money and may even lead to the death of the crypto titan.

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Rao420
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July 07, 2024, 10:08:48 PM
 #83

Many people seem to be quite naive and still give high expectations of the Halving that can make bitcoin shoot to a higher price but they are not aware of the volatility that is owned especially with the previous rapid rise of bitcoin from the price of $15k to the price of $71k it is clear that there must be a correction first to make them resume their rally.
Bitcoin rapid downward trend seems to indicate that Bitcoin is in a deep correction mode and there are even rumors that it will go further down.  Many analysts believe that the next target could be $40000.  Right now there is a lot of anxiety in the market.  Some experts are saying that this is only a temporary dip, which will help stabilize the market.  But on the other hand, some fear that this correction shows a long term bearish trend.  In such circumstances, both making new investments and holding are challenging.
davis196
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July 08, 2024, 06:17:38 AM
 #84


Bitcoin rapid downward trend seems to indicate that Bitcoin is in a deep correction mode and there are even rumors that it will go further down.  Many analysts believe that the next target could be $40000.  Right now there is a lot of anxiety in the market.  Some experts are saying that this is only a temporary dip, which will help stabilize the market.  But on the other hand, some fear that this correction shows a long term bearish trend.  In such circumstances, both making new investments and holding are challenging.

The anxiety on the market is caused by newbies, who are butthurt by the price drop. There will always be bearish analysts and bullish analysts. Some people will keep preaching about an upcoming bull run, while other people will keep preaching about doom & gloom bloodbath on the markets. The price will always go up and down, the price volatility will never end. The summer price drop was pretty much expected and somehow everyone starts acting surprised that the price dropped. Saying that the BTC price could go down is nothing but FUD and speculation at this point. The price might really go down to 40K, but that doesn't mean that it won't recover.

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July 08, 2024, 09:06:06 AM
 #85

Many people seem to be quite naive and still give high expectations of the Halving that can make bitcoin shoot to a higher price but they are not aware of the volatility that is owned especially with the previous rapid rise of bitcoin from the price of $15k to the price of $71k it is clear that there must be a correction first to make them resume their rally.

But in the end many of us hope that bitcoin continues to accelerate to a higher price so we don't want to accept and always panic when bitcoin is at a price that shows a temporary decline. As you said in your title, currently bitcoin is fine, there is no need to worry about anything for now because we are still in a comfortable zone and we only need to enjoy the process so that when we reach the finish line we can feel the sweet taste of the process we are doing.
Bitcoin is still currently fine, what we are seeing today is just part of its price correction and once it's over, we will witness a good price again eventually. However, not everyone has the same mindset. Some might panic with this current price decline, but others remain calm and still hopeful. But in general, I believe bitcoin is still doing good, regardless of how its price is experiencing a current decline these days.

During the 2022 bear season, bitcoin fell from $69k to $15k and everything was fine. Compared to the current price, it can be seen that Bitcoin is only down 20% from the highest ATH of 72k$ and that is not too significant, so I was a bit surprised when bitcoin fell from $72k to $53k, many people thought it was unstable. We don't know how long this correction will last or what the ultimate bottom of the correction will be, but if it drops below $20k it is normal because high volatility is the nature of bitcoin. Those who think it is unstable mean they are not ready and are not suitable for bitcoin.


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