Quote from: rachael9385 on Today at 01:57:42 AM

Quote from: Mauser on January 21, 2024, 09:03:31 PM

Quote from: Alpha Marine on January 12, 2024, 06:24:56 PM

In 2014, Bitcoin went from about a thousand dollars to under $200 and finally ended the year at just over $300. This kind of knowledge helps you keep the faith as a Bitcoin holder when the price dips.

I agree with you that knowing the history of Bitcoin and how the price changed over the years is very helpful. I am just not sure how the exact price almost 10 years ago is going to help us make better decision today. Would you expect the price to drop down to 200 USD again during a bear market? For me this is very unrealistic, because I don't think we will ever see a price below 10,000 USD again. There are just too many different investors who would be buying large amounts of bitcoins below 20 or 15,000 USD. Maybe a more relative comparison of the price 10 years ago can help. But even then would we expect a 80% drop in price this year? This seems quite harsh for my expectations of 2024. The world is still recovering from the pandemic and the high inflation rates. Also we have the halving coming up this year. I am rather expecting rising prices this year than falling prices.

What the OP said might be truth because with some good information about the past price of Bitcoin one can easily tell or predict how much it will be next time.
However, most of the times some predictions are might not be accurate but there will definitely be a day or time when one can predict the actual price of Bitcoin.
I also don't think that Bitcoin will ever decrease to $20 or $15k in future because it will cause a serious commotion that a lot of people will buy and hold it, both those that do not have the money to buy the Bitcoin at that time will want to borrow and buy (which is not a good idea).
The reason why I said it would be good to know the past price of Bitcoin is because it might help an investor to know when Bitcoin will increase or decrease.

It can be said that to be able to predict the future, historical data is indispensable, but I will not agree with you that just based on bitcoin's price history, we will be able to easily predict future bitcoin price. For example, can you predict what the price of bitcoin will be during the upcoming bull season based on historical data?

I agree that we probably won't see bitcoin price below $15k again, it's really unlikely but to me there will always be 2 scenarios. One is that people will be afraid and not dare to buy bitcoin because it is too risky, two is that there will be people who see it as an opportunity and they are willing to accept the risk of buying bitcoin if it drops further. The market always has two sides: sellers and buyers, if there were only buyers, the price of bitcoin would never decrease.

Currently, the price of bitcoin is still falling and many people always complain about the price of bitcoin being too high and they have no chance to buy but today the price of bitcoin is below 41k$, but how many people are buying?