What are the Reasons People Are Questioning Bitcoin Again?

[Luzin]

With the current conditions and with the many arguments that exist actually when the increase and decrease occurs we can draw a thread that indirectly shows that until now there are still a lot of fomo that exist among bitcoiners regardless of their recognition of investors or trading everything looks the same.

This is one of the reasons why more and more people say that Bitcoin is gambling, evil, bad, and a scam. Basically, the people who say this have entered the industry. But the problem is they cannot control themselves. They incur losses, cannot cope, and feel devastated. As a result, the bigger effect is that they tarnish Bitcoin's reputation with their arguments. In fact, the knowledge they are using is not sufficient, and they are unwilling to learn harder. This situation is further worsened by being displayed on social media, which is widely seen by people. Consequently, people are influenced to associate the negative issues with individual mistakes. It is difficult to change the thinking of people like that.

[Hamza2424]

Yep bro unfortunately that's how things are since the start. Only true believers trust Bitcoin and they don't second guess what they are doing. Crypto is really unpredictable but it does not mean we change our stance at every dip and pump. We need proper education but those who say to the moon when they are up and to the zero when the price is down, are those who can't control their emotions.

I don't judge them, who they are what are their background but they seem like some old generation who seems to misunderstand what is cryptocurrency. But I never took them seriously, because some of them are spamming and creating fud in their communities to spread the fear.

We should focus on our plan, if we don't have one, then creating one should be the first step

[ThemePen]

Market is feeling belief problem since many buyers have fixed their minds on price goals of $100k+ that they expected at end of 2025, and current price area of $63k-70k is falling instead of growing. Result of this price fixing is that most people use price as health bar for tech when it is in fact basic strengths of system such as its mining power and shared control that are at their best ever.

The current move towards a world item has meant that 2.9% CPI price hike report in fact helps price comeback by showing chance of bank fee being lowered. And such market cleanups are good since they remove high debt gamblers and place Bitcoin in right hands, ones that understand math, and shows that real money win is side effect of long term belief, not chase of rising prices.

[Outhue]

I’ve been watching the Charts and overall Market sentiment for quite some time now. And it's just laughable that the "revolutionary" talk just evaporates when the market starts to bleed. I think the issue is Price Anchoring, I think we are wired to perceive what happened "yesterday" as the permanent reality and when The Market is Green Everyone acts like a visionary but the Second Market starts bleeding Everyone starts Questioning their "Vision". It's like people forget the Actual Mechanics of the Network and make price the only indicator as to the tech is "working" or not. The truth is that most of the people here are just LARPing as high-conviction investors.

It's easy to say you're in it for Decentralisation or whatever the Math when you are 20% up but when you are at Drawdown, that's when you realize if you actually understand what you bought. I have seen in a few discord servers where the people who were posting "To the Moon" memes are now the ones who are hoping to Get out on break-even. It's Hard to believe in something which you don't know about, if everyone right now just have a teeny bit of Fundamental knowledge then they will have something to rely on when the hype is Ended. The truth is we need people who believe in Bitcoin not who wants to Benefit from Bitcoin. And if you believe in It then the benefiting Part comes in the package with it.

This is a normal feeling, people invest alot of money on things they have no clue about, it can never be mme though, I was talking about taking profits in November 2025 and some people on here are saying that the bull market is just starting, I even removed some money to purchase my dream PC and some still blamed me.

I have been around for too long to know that what goes up always comes down, since volatility is Bitcoin itself I know perfectly well that it will dump when the time is right, even if all businesses and companies around the world invest in Bitcoin the Volatility will never be erased, it's all about understanding and knowledge, not just sentimental and hype.

[Barikui1]

What do you expect, that's human for you. They praise you when you're successful and criticize you when you're stumbling. They forget that bitcoin is an asset that has two phases which is the bear market and the bull run. How is it possible for the price to only be pumping without dipping. The bottom line is that people must always talk negatively about bitcoin.

What I think about all this is that those that are the biggest critique of Bitcoin always wait for times like this, so that they can confidently talk down on it and why it's a wrong investment to get involved in. While most of them are doing this to make themselves feels better, since they missed out on Bitcoin when it was not even up to $5, so even though most Bitcoin investors may be panicking during this dip, the set's of people that are really happy and are finding a lot of joy about this dip is the haters, to them it seems like their prediction is coming to light 🤣🤣
That's why we should be buying now and seizing this dip opportunity available in the market, because it's just a matter of time before Bitcoin rally back to the top,

[Puzzled_bystander]

The way I understand the criticism, most people who are questioning Bitcoin are not saying it will malfunction as a technical system.

However, a growing number of people are rightly concerned about BTC's merit as medium-term investment when it has underperformed all kinds of other assets despite it being digitally extremely scarce.

Returns have once again diminished sharply this cycle. For the second consecutive time, the previous ATH has been undercut during the cool-off phase. Extreme downside volatility like on Feb 5 - an event with a probability of 0,05 percent according to Goldman Sachs - continue to happen, while sharp rises to the upside have become exceedingly rare and even more difficult to time, which is expressed in BTC's unfavourable Sartori and Sharpe ratios.

Simply buying and holding BTC, which historically has been praised as the holy grail by the community, increasingly involves a very considerable opportunity cost.

Let's say you bought BTC in Februar 2021 when it cost around 55,000 USD. Five years later, it is merely 10K USD up and still headed sharply downwards, and not accounting for inflation. You could say I am unfairly selecting arbitrary data points, yet even at its ATH in October 2025, BTC barely managed to double the price for our hypothetical investor. Five years is not a short period of time in my book, and that period carries even more weight in consideration of the fact that BTC has only existed for around 16 years.

We are now at a stage where only a few very long trendlines such as the 200 wma and the price of production for BTC have not been breached. What if those were to break, too, how long would the price take to recover?

Time is money, they say. Buying and holding BTC has required an increasing degree of timing and skill, the further we move away from the early days.
If returns continue to diminish at the current rate, something fundamental in the market and investor psychology will break, because the price would begin to flaten out and then tilt downwards even on the most long term price charts.

The other day, I referenced a soberly written, for the most part dispassionate article, which highlighted exactly this problem and went into more detail. I suspect that that post was deleted by the mods. While I understand their desire to prevent panic, I don't feel that banning certain thoughts and questions is conducive to an open and honest discussion.

The time window for the price of BTC to surprise the market in a positive fashion and to refute the fast diminishing return thesis is narrowing fast, and maybe redocrd high fear and greed index values reflect such worries. IMHO is absolutely rational to ask critical questions about BTC and the risks involved in holding it, and I believe that any responsible investor should do so.

[Proty]

The reason is just simple, fear is the reason why most people are questioning the worth of bitcoin. Some people that plan to hold for long and there holding was already in profit maybe regretting while they didn't sell when the opportunity was there for them to. This all has to do with mindset and understanding of what bitcoin is .
There are people that has low risk tolerance that they may act rashly when things is going the way they plan. To some people right now they see it that this is the end of the road for bitcoin but this is wrong.

[bitbollo]

Even if we have seen in the past these high rises and crazy fall... I see the main reason as laziness! Or impatience.
It is interesting to see any example made by using "fiat prices" because I find as a wrong unit measure.
At a certain point, both bitcoiners and bitcoin can survive without caring at all about doubt of people that are to lazy to understand the basics of this innovation.
People continue to make the same argumentation (lazy) and the same comments from the early days... because they don't want realize what brings adopting bitcoin nowadays.

[davis196]

I’ve been watching the Charts and overall Market sentiment for quite some time now. And it's just laughable that the "revolutionary" talk just evaporates when the market starts to bleed. I think the issue is Price Anchoring, I think we are wired to perceive what happened "yesterday" as the permanent reality and when The Market is Green Everyone acts like a visionary but the Second Market starts bleeding Everyone starts Questioning their "Vision". It's like people forget the Actual Mechanics of the Network and make price the only indicator as to the tech is "working" or not. The truth is that most of the people here are just LARPing as high-conviction investors.

It's easy to say you're in it for Decentralisation or whatever the Math when you are 20% up but when you are at Drawdown, that's when you realize if you actually understand what you bought. I have seen in a few discord servers where the people who were posting "To the Moon" memes are now the ones who are hoping to Get out on break-even. It's Hard to believe in something which you don't know about, if everyone right now just have a teeny bit of Fundamental knowledge then they will have something to rely on when the hype is Ended. The truth is we need people who believe in Bitcoin not who wants to Benefit from Bitcoin. And if you believe in It then the benefiting Part comes in the package with it.

I can assume that you are paying too much attention to social media noise and drama. Many people with a social media following tend to overreact and exaggerate(for clickbait and attention seeking purposes). That's what social media algorithms wants and those "influencers" are feeding the social media algorithms with clickbait, sensationalist and rage bait content. Every time the crypto markets go up, the so-called "crypto influencers" are "to the moon!" and every time the price drop, they're like "this time will be different, this might be the end of Bitcoin". Do you really wanna keep paying attention to this nonsense?

[Versatile_choice]

What do you expect, that's human for you. They praise you when you're successful and criticize you when you're stumbling. They forget that bitcoin is an asset that has two phases which is the bear market and the bull run. How is it possible for the price to only be pumping without dipping. The bottom line is that people must always talk negatively about bitcoin.

That is just it even when you're doing good to people you will get hype like no one else has ever done that, but once you stop doing good to people they start talking bad against you that's just the nature of humans they are so ungrateful, at least we are supposed to be grateful for the little it has done even though the price is not going as expected and as a matter of fact we can't expect bitcoin to keep increasing all the time if bitcoin keep increasing then what's the point of it being volatile? The thing is that most people do not understand the meaning of volatile that is why they are finding it hard to cope especially in this current stage.

[BlackHatCoiner]

You could say the same thing about beachfront property in California, or shares of NVDA.

You couldn't say the same about NVDA, because there can always be more shares issued that devalue yours. Beachfront property in California is a bit more accurate, but then you have the real estate downsides, some of which are that I can't move it around, let alone cheaply, I cannot easily liquidate it, taxes for just keeping it etc.; it's just not as good as an appreciating money, if what I want is to simply store my money.

Relatively stable sovereign currencies like the US dollar expand in ways that are well known to the market and also do so very slowly (this can change, but investors will know if it does).

Genuine question to see if we're on the same page: how much does the US dollar expand in supply? Because according to my numbers, that isn't slow.

So yes, Bitcoin most likely will not be expanded, but that is not a unique feature. Hence saying, "Bitcoin is not expandable so you should invest in it" is like saying "AAPL is a company selling computer products so you should invest in it", or "my beer comes in liquid form so you should buy it". It's not a unique reason, it's just a reason.

Sure, fixed supply is one reason. Here are twenty seven other reasons which preclude Apple and beers from the moronic analogy: https://youtu.be/cH2t6VOdgkE?t=26. By the way, Apple shares and beers are not fixed in supply.

[Nathrixxx]

People will always tend to question Bitcoin bitcoin because not everybody understand the network allow it works, another thing is that they don't even understand the reason why we have different seasons in the network, therefore whenever they see the market fall, the true panic to the social media causing many to react towards the way the market is reacting, while is a opening because of their lack of information and competency in knowing much about the Bitcoin network.

[FortuneFollower]

People will always tend to question Bitcoin bitcoin because not everybody understand the network allow it works, another thing is that they don't even understand the reason why we have different seasons in the network, therefore whenever they see the market fall, the true panic to the social media causing many to react towards the way the market is reacting, while is a opening because of their lack of information and competency in knowing much about the Bitcoin network.

Such people don't deserve to have the results with BTC. No knowledge -> no results.

[Smartprofit]

I’ve been watching the Charts and overall Market sentiment for quite some time now. And it's just laughable that the "revolutionary" talk just evaporates when the market starts to bleed. I think the issue is Price Anchoring, I think we are wired to perceive what happened "yesterday" as the permanent reality and when The Market is Green Everyone acts like a visionary but the Second Market starts bleeding Everyone starts Questioning their "Vision". It's like people forget the Actual Mechanics of the Network and make price the only indicator as to the tech is "working" or not. The truth is that most of the people here are just LARPing as high-conviction investors.

It's easy to say you're in it for Decentralisation or whatever the Math when you are 20% up but when you are at Drawdown, that's when you realize if you actually understand what you bought. I have seen in a few discord servers where the people who were posting "To the Moon" memes are now the ones who are hoping to Get out on break-even. It's Hard to believe in something which you don't know about, if everyone right now just have a teeny bit of Fundamental knowledge then they will have something to rely on when the hype is Ended. The truth is we need people who believe in Bitcoin not who wants to Benefit from Bitcoin. And if you believe in It then the benefiting Part comes in the package with it.

Do you think the price of Bitcoin has no impact on the functionality of the Bitcoin network? 🙋

Currently, mining is no longer profitable for mining companies. What will happen when mining becomes unprofitable? Mining companies will stop maintaining network security. In two weeks, the difficulty will be reset, making Bitcoin mining easier. But what if the price of Bitcoin drops even lower in two weeks? What if the price of Bitcoin continues to fall for several years? Imagine a bear market that lasts not two years, but, say, seven years… Which miners will be able to survive such a "critical winter"? Considering that the cost of Bitcoin mining will double again in 2028. And (rhetorically), at what point exactly will Bitcoin face a 51% attack?  Even if Bitcoin mining difficulty declines and miners capitulate, existing ASIC miners won't disappear. Who will get them? The Chinese? CBDC supporters? Who exactly will deliver the decisive blow?

Investors selling Bitcoin aren't idiots. They clearly see that during this time of geopolitical uncertainty, the price of gold has risen, while Bitcoin hasn't. Is this the machinations of those in power? The Chinese and globalists? Aren't they strong enough enemies for Bitcoin?

Who are the allies? Speculators? Old ideological supporters? Donald Trump (the red-haired populist)? Michael Saylor (a proponent of completely withdrawing Bitcoin from circulation and centralizing its storage on Coinbase)?

So, we have weak or insufficiently ideologically motivated allies and very strong, determined opponents.

 No, investors selling Bitcoin aren't fools. Sure, if Bitcoin's price rises before the next halving, we'll all breathe a sigh of relief and pop the champagne. But honestly, Bitcoin has never been in such danger.🤷

[Pablo-wood]

The reason is just simple, fear is the reason why most people are questioning the worth of bitcoin. Some people that plan to hold for long and there holding was already in profit maybe regretting while they didn't sell when the opportunity was there for them to. This all has to do with mindset and understanding of what bitcoin is .
There are people that has low risk tolerance that they may act rashly when things is going the way they plan. To some people right now they see it that this is the end of the road for bitcoin but this is wrong.

Knowing when to take profit is one thing about this Bitcoin investment. Sometimes opportunities get missed and the reactions get wild. The thing most person fail to know is it can't be green all the time. It's even better it gets red quicker so that it can gather enough momentum to pump for higher highs. This tolerance of a thing requires extreme discipline for most people. It's even worse for those who will always pick up their phones and monitor the martet at every slightest opportunity without even caring if they are putting their hearts at risk or not.

[Dunamisx]

Allow people to clear their doubts because we are already in the bear season and the market is not smiling for bull a at now, only that the influence of the social media has been making so many believed that they couldn't achieve a lot with the way market is falling for the entire crypto recently, but they wouldn't take their time as well to inform them of the reason and why they shouldn't sell in fear or panic for any cause as we are in the bear season.

[legiteum]

You could say the same thing about beachfront property in California, or shares of NVDA.

You couldn't say the same about NVDA, because there can always be more shares issued that devalue yours.

Yes, but publicly-traded companies like NVDA operate under strict rules, so when/if they increase the supply of shares, that is broadcasted well ahead of time. Also, when companies do issues shares they reap cash from the sale, which increases the value of the overall company, which is why secondary offerings usually make the stock go up on a per-share basis and not down.

But at any given moment the supply is absolutely stable, and that's the only thing that matters to any modern investor who can, at the click of a button, move in and out of and given instrument.

Beachfront property in California is a bit more accurate, but then you have the real estate downsides, some of which are that I can't move it around, let alone cheaply, I cannot easily liquidate it, taxes for just keeping it etc.; it's just not as good as an appreciating money, if what I want is to simply store my money.

There are real estate ETFs that are perfectly liquid like any share of stock. There are thousands and thousands of other products besides Bitcoin that do this. It's not a unique advantage.

Relatively stable sovereign currencies like the US dollar expand in ways that are well known to the market and also do so very slowly (this can change, but investors will know if it does).

Genuine question to see if we're on the same page: how much does the US dollar expand in supply? Because according to my numbers, that isn't slow.

The expansion of supply, in this case, is the US rate of inflation. That has been hovering around 2-3% per year for several decades, with a brief blip when there was a pandemic, at which point it hit 10% for a little while. (There is also the "M2" money supply, but that is not a clear indicator of value since M2 isn't necessarily in circulation and there are complicated reasons why M2 does not necessarily correspond to inflation).

Bitcoin can fluctuate in price by 10% in one day, so compared to that USD is ridiculously stable.

To be clear, USD is not a great investment, and virtually nobody uses it that way, but its just to say that it's not as bad as people make it out to be either. If there were odds on Polymarket for USD and Bitcoin to each lose 50% of their present value in the next 12 months, Bitcoin would be easily be judged 100x more likely to do so by the open market.

So yes, Bitcoin most likely will not be expanded, but that is not a unique feature. Hence saying, "Bitcoin is not expandable so you should invest in it" is like saying "AAPL is a company selling computer products so you should invest in it", or "my beer comes in liquid form so you should buy it". It's not a unique reason, it's just a reason.

Sure, fixed supply is one reason. Here are twenty seven other reasons which preclude Apple and beers from the moronic analogy: https://youtu.be/cH2t6VOdgkE?t=26. By the way, Apple shares and beers are not fixed in supply.

That was an analogy. Maybe you misunderstood, but my comment was not meant to imply you should invest your savings in beer. The point is that saying, "Bitcoin has a fixed supply" is not a unique advantage when in fact thousands (or even millions) of other products have the same product feature, either exactly or effectively.

Another analogy would be a car company saying, "you should buy our car because it has antilock brakes" when just about every single car you buy today has antilock brakes. I mean, sure, it's a feature, and there's no problem in touting the car's features, but it would be disingenuous to say, "you shouldn't buy those other cars because our car has antilock brakes", implying that the competition doesn't have that feature.

[BlackHatCoiner]

The expansion of supply, in this case, is the US rate of inflation.

Yeah, that is propaganda, and it's working great, as it seems. The "US rate of inflation" is a nonsense number they came up with. To confirm, try explaining what this number represents, and you'll realize it's just a basket of things they keep changing.

The M2 is the closest thing to measuring inflation.

The point is that saying, "Bitcoin has a fixed supply" is not a unique advantage when in fact thousands (or even millions) of other products have the same product feature, either exactly or effectively.

I know what your point was. I can also create a shitcoin with 10 million coins fixed supply, but people won't pay 60 thousand dollars. There are certain properties that make bitcoin unique. Not only the fixed supply. Which is why any analogy of beachfront houses in California is a moronic analogy.

Yes, but publicly-traded companies like NVDA operate under strict rules, so when/if they increase the supply of shares, that is broadcasted well ahead of time.

I don't trust "strict rules". Laws are made by humans and they can be violated by humans.

[salad daging]

The people who have been doing this need to read the old charts. Bitcoin dropped from holding an all time high and this is normal in a speculative asset. If it goes up it is bound to come back down. Specially if the rise was fast, the drop will be fast as well. It will eventually pick up price and grow back.

But people always fry bad opinions on bitcoin when the market is bearish, maybe they don't see the past history of how bitcoin went to ATH and then free-fall to the lowest point, and we have seen so many controversies about bitcoin.

That someone continues to have a positive view of bitcoin when the price is good, but when the price drops low they are silent and like there is no vision for bitcoin anymore.

In the meantime the bear season can be the good time to buy at discounted prices. There are chances it might drop further, hence dont spend a lot of fiat but a limited amount and buy at this lower price.

The drop now is indeed the time to buy, it's just that new investors will be more hesitant if many influencers continue to fry bitcoin in the market downturn, if we believe it's the right time to buy even if the price continues to fall then continue to buy if you have a lot of fiat reserves.

[GeorgeJohn]

It has been happening forever.  There is always a huge group who are just involved for a short term gain without (a) being able to think in terms of 5-10-15 years, (b) not doing a lot of research, and (c) (even worse) investing using margin.

Those people belong to short-term investment, because they are only take advantage of any progress in bitcoin price. Short-term bitcoin investors, only concentrate to the profit they will make at short time...whereas long-term investment in bitcoin will give an investor unexpected profit, especially when it invest during Dips...