Post
Topic
Board Bitcoin Discussion
Re: Knowing Bitcoin price history is important
by
Lorence.xD
on 13/01/2024, 08:37:30 UTC
My trust in Bitcoin grew exponentially when I knew the price history of Bitcoin.

Sorry but I had to stop reading your post right there. The way I see it, you just found a way to f yourself exponentially. It is because the charts only give you the past data. They don't really tell you anything about the future. If you want to trust btc, look at its fundamentals. Look at its adoption rate. See how many mercs do business with btc. A good chart doesn't mean anything if btc fees keeps rising and the network becomes unusable for many people. All of that could come down very quickly. Slowly at first, then suddenly.

How come statistics and data from the past don't give you any idea what the performance is in the future? Even if we take a look at the average fee from the charts we could have any idea when it will have the possibility to increase its value, it might not be 100% since it is just a speculation but you still have an idea what to follow. Even not in Bitcoin, just look at some companies and ask why they keep records of the past years despite not having an assurance that it would be the same outcome in the current or next years. If you are a long-term holder of Bitcoin and don't do DCA maybe keeping an eye on the charts would not be for you since there are still traders that would have to use this data.