Welcome to this Bitcoin price discussion thread.
I’m curious to hear what everyone thinks about the current market condition.
Hearing what other people think about the markets is interesting as it shows what the crowd collectively thinks. Intelligence of the crowd is being exposed.
My gut feeling is that we will continue moving down below 5k short term.
I think that the best thing to increase the price/value/demand for BTC is to Spend and Replace. Sure there are HODLrs, day traders, and swing traders. Each and every one needs to buy anything and everything they can with BTC. Purse.io, CheapOair, Overstock, etc. Also convince any shop owner to accept cryptocurrency. Show them how. Buy Buy Buy,… or bye bye decentralization if we have to wait for some corporation to do BTC marketing. We gotta own it. Use it Replace it. Rinse and Repeat!
Keep your investment bags. But convert fiat for any purchase possible in cryptocurrency.
This could be controversial to say “out loud” , but Bitcoin has lost much of its initial relevance. There are plenty of alternatives to it today, and it’s now old technology, like the first version of HTML or the first browser. You can do anything you want to do with blockchains now - without any involvement of the BTC currency or blockchain. It was the first on the scene, so it has its fans and HODLers, but we rarely discuss the Bitcoin blockchain in any development conversations - other than as a store of value and maybe as some sort of crypto “reserve currency”. But you can’t code on it so it kind of just is what it is at this point. I’d like to see the market sentiment for other cryptos become decoupled from BTC in the near future.
I’ve viewed many posts about BTC price, some say it’s dead and will be $hundreds, while some hold the belief to bear the bear.
Hard to say.
In fact, “confidence” is the most important factor in the financial industry. If we look back on the past financial crisis, we will find that what is really fatal is not how much value is lost in the crisis, how many companies are bankrupt, but lose confidence in the market. This uncontrollable situation can easily lead to catastrophic results if triggered.