Bitcoin is performing just fine currently

[Alpha Marine]

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.

[Ivystar5]

Anyone who thinks bitcoin is under performaning must be a newbie in the bitcoin world. I have been in other forums and even newbies too do understand that bitcoin has been great.

If anyone wants to invest in bitcoin they must look at the past of bitcoin and make decisions from their. bitcoin will always be bitcoin by repeating patterns.

So history is enough to teach everyone.

[Adbitco]

I think there is something you didn't mention or do I say you are skipping it?
Yes let me recall your attention and refresh your memory towards this that those who are complaining or lamenting of sudden drop of bitcoin price are equally right to say because when they invested at 73k and expect the price to hit 100k but instead it was on the reverse so they must complained and tweet whatever they want. If you say that bitcoin was 69k those who invested at 50k from the last ATH before this new ATH are still now in a profits therefore they wouldn't lament much on the price except those who venture into the market at the pick.

[Catenaccio]

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.

The bull run is still here and not ended yet. It's hard to think that the bull run as a start for a new market cycle that usually lasts four years in previous cycles, will stop only 2 months after a halving in April 2024.

It's harder to believe that a new ATH is only a little bit higher than 2021 ATH and if we count inflation issues of fiat currencies since Covid-19, it's difficult to consider highest price in 2024 is a new ATH.

Many months for 2024 and 2025 bull run to complete, it's not time to feel uncertain and fearful.

[btc78]

There is another thing to consider that years before did not exist in bitcoin and that is the sheer amount of people aware of it. yes bitcoin was already growing popularity in years prior but now we see it more and more even becoming a feature in political talks.

In short, more eyes are now on bitcoin and these eyes are expectant and impatient. Personally I find it a blessing that bitcoin has not reached a new ath just yet as this means I can still continue to buy more bitcoins at a relatively low price

[MeGold666]

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

People on social media are mostly retarded and broke (while faking being rich), why would anyone listen to what they have to say ?

[stompix]

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?

You're kind of forgetting that we were at 69 also in April 2021, three yers ago!
I love that when panicking some coiners start to grab whatever time period is convenient and try to shove it in the face of others calling them stupid and so on and on! The fact is that it was a bit disappointing, we had the biggest event with the launch of ETF and the major money injection ever, and we just managed to get to the 2021 bullrun.

To make it clear, if bitcoin drops now in a bear period to 20-30k but recovers in 20027 and goes to 80k, would you cheer it as an achievement?
You have to understand your average Joe, the one you bombarded with memes about Wall Street money, he sees Wall Street money coming in and he sees an ATH the size of the one with no Wall Street money, can you blame them?

[mirakal]

Every day's bitcoins performance always becomes memorable to us and we can really see a huge improvement even just a one-year comparison.



We could say that we should not stop expecting more from bitcoin, believing it continues to grow rather than seeing it low. I know those people who remain skeptical about this green opportunity with not feel the urge to invest. What we have now will point out that despite the banning of bitcoin in some countries still it shows progressive and unstoppable growth. That gives us a clear view of where the future of bitcoin is going --that is on the bright side.

[pooya87]

Overall I agree with what you're trying to say here. It's been like this for as long as I can remember as well. Don't forget that the following is one of the oldest memes in Bitcoin World:

People expect the market to always be volatile and something crazy to happen, and usually they expect that thing to be a massive jump up. When that doesn't happen, they start talking about poor performance.

From a global economy perspective, I can also say that bitcoin is performing more than fine. Don't forget we have a recession+inflation going on in most of the world with high "sticky" interest rates. Such an economy puts a lot of sell pressure on markets like bitcoin that are considered "high risk assets" since people tend to liquidate such "assets".
Bitcoin had a bull run over the past year.

We saw this in the crash of 2022, something we have been recovering from in the past year, but we ARE recovering which is what the good performance is.

[DeathAngel]

Every bull run has consolidation periods where the price seems stagnant & isn’t rising. Also every bull run so far has had corrections that scare less experienced, cowardly investors & makes them sell. We are currently in the midst of what some might see as reason to panic. There is no need to panic though, Bitcoin is doing just fine. I predict we end 2024 over $75,000 per coin.

[dothebeats]

It's obvious that a lot of people are looking into bitcoin as their express ticket to riches, hence why a lot are still unhappy with bitcoin's price performance despite holding on to $60k for a long time. These same people are irrationaly thinking that we can easily breach several milestones in a short span of time without taking into account the overall amount of money that needs to be pumped into bitcoin for that to happen.

The fact that this price range used to just be an ATH a few months ago and right now we're maintaining it is something even better than any inconsistent and extremely fragile bull run. I'd take the current stagnation over short-term extreme increase in price any day.

[TheUltraElite]

This is a discounted price to buy at. If you zoom out you can see the sky-rocketing rise of bitcoin price over the years and then only you can make proper conclusion about how it is performing.

However I get the idea, certain people are looking for the short term gain, they probably bought at 63-64k USD and were willing to flip at 65k USD, not they have to hold for some time longer. Like I have said, bitcoin is something for the long term, short term is difficult to predict.

Those who have been watching BTC for years, know that buying time come in once bitcoin drops under 60k.

[kotajikikox]

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.

It’s not performing poorly however I do understand if people become a little disappointed with the rate of bitcoin going up. To be fair, I don’t think bitcoin is doing bad but we all want it to rise as quickly as possible.

Many thought that due to the halving event, the after effects would be so explosive and its stagnant price came as a surprise. Despite the disappointment I still believe bitcoin will soon rise. It’s all about time and waiting.

[sunsilk]

It is because the barometer of those that do not like what is happening now is from the ATH. They do not appreciate how the timeframe from a year ago is better to be honest.

While the comparison is off if you will have a look from today's dump. It certainly is a bad timing for those who have bought at $70kish.

But overall, people just need to be reminded that they need to zoom out when in doubt.

[Odohu]

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?

Maybe it is because of me that the price of Bitcoin has not gone to the moon just yet because I have not met my objectives, so BTC is waiting for me to reach my accumulation target before moving . Indeed Bitcoin have done so well within a space of one year and it is worth celebrating.  I remever when price lingered in the "don't wake me up region" after which it broke out and we were so excited that price finally moved and that was even sub $40k. Today Bitcoin is sitting comfortably at $60k yet there is serious dissatisfaction in the Bitcoin community. Well, don't blame people because the expectations were high that the combined force of the ETF and the Bitcoin halving will send the price above $100k. This was the expectations of many Bitcoiner but as that didn't happen just yet, many have become frustrated with the waiting.

But we must understand that the market will do what it wants and that no one can completely decide what path it will follow. Our best approach should be to think long term for therin lies the peace of mind needed by every investor. I have the feeling that the price will surge just when no one is expecting

[Kemarit]

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 wouldn't say that we are unimpressed, but we have seen $73,000, a new all time high. We will be impressed if we will see the price going into $75,000-$80,000 by this time. And it didn't happen obviously as we are somewhat struck to $60,000 when there are lot of people who are looking for a huge jump since we've we are months already from Bitcoin halving.

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.

And that is the expectations and if we don't get to it, there could be set of people that are going to be disappointed. It could be a normal thing though, it's not that we will get everything, we could be frustrated and dismayed, but it could be good in the long run as we learn how to get along with it and accept.

[Mate2237]

Those who invested at the rate of $70k and thinking that the price will hit $100k and when the price didn't rise again instead coming down then they would panic. Under performing is an understatement because is a volatile digital currency which is not stable in one place and it is the movement of volatility that makes bitcoin more interesting to invest. Because people would like to invest when the price is down and like to sell when the price is up. And when people or investors invest in the time of high then they are also thinking that the price will rise above that amount in the present time of their purchase.

And as I said those who are unimpressed are the investors invested when the price was above $60k and now that the is &/$60k and below them you don't think they would be happy about it but they have to know that bitcoin is just like that because nobody can predict the next move of the price.

[tranthidung]

In short term or medium term, like weeks, months or even two years, the Bitcoin market can be boring with many people but they forget that, if they zoom out, and if history repeats, big growth in price will be seen after 4 to 8 years. This year is 2024, 8 years ago in 2016, what was the higher price in 2016 for Bitcoin.

Bitcoin market can be boring now but will it contiune to be traded around $60,000 in 2028 or 2032?

If they already believe in Bitcoin, focus on long term to get massive profit from Bitcoin investment, they can simply ignore this year. Movement in this year is not important if they can take profit at $120,000 or $150,000 easily in 2032. Like now they can sell Bitcoin easily around $60,000.

[yudi09]

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.

If I can get into the minds of people or a second group, they lie between what they say in writing and what they have in their minds.
They actually admit in their conscience that Bitcoin is doing well compared to other coins.

For those who complain about the slow movement of Bitcoin, I think this is also divided into groups. There is a group that is so new that they really don't know the price history of Bitcoin which we can assume is normal. The other group is liars.
As you said, everyone wants the price to skyrocket but it takes stages.

[Maus0728]

The reason for why they're complaining why the pump in the bitcoin price is from the fact that most of those who moan and groan to complain about the slow pace are either newbies or hodlers that have been waiting for a price pump of a lifetime that it's making them impatient. I don't know about most of you but I do think that bitcoin does take slow at times but I can get why it does sometimes and people are just too ungrateful about bitcoin going up in prices in the past that month that they've forgotten how fast bitcoin can also go up in prices too and it just so happens that in a long-term investment game, patience is going to be the key.