Quote from: Casdinyard on Today at 04:45:12 PM

Quote from: Altcoiner007 on Today at 12:18:06 PM

Many times I've missed the opportunity of buying Bitcoin dip because of media sentiments. In 2022, when Bitcoin was $17,168.57, which would have been a good time to build a larger holding, some claimed Bitcoin was on the road to irrelevance others said it was dead. I could understand and agree with them because the value of bitcoin had peaked at USD 69,000 in November 2021 before falling to USD 17,000 as at the mid-June 2022.

After that time, the value had fluctuated around USD 20,000. And the same media claimed it was an artificially induced last gasp before the road to irrelevance. It seemed true as the FTX bust had sent the bitcoin price to well below USD 16,000.

Later in 2023, Forbes headline crushed the confidence of many Bitcoin enthusiasts, saying if ETFs managed by asset managers are too successful, they will completely destroy bitcoin. Other sentiments like Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers and that the approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment.

Yet today, I saw the image above and it suddenly got the question into my head, Is Bitcoin still dead? We've all seen how Bitcoin has weathered through all the critics and FUD to breaking above USD 70,000 steadily since the beginning of 2024. There's all indication it's headed toward USD 100,000. What are you all thinking about these feet.

Should those who didn't buy all along dare to jump in or would you recommend going for ALTs as the rising of Bitcoin often drag along the altcoins. Let me hear your thoughts?

Bitcoin for sure isn't dead, but it's not that alive either if you'd ask me. The reason why it's in this state right now is because of the massive anticipation that people have over the upcoming halving, and the subsequent ETF approvals that bitcoin has been under in the past few months. These are good, but I'm not necessarily seeing these things as sustainable hypes that would propel bitcoin and the crypto industry towards a massive bull run.

The price is inflated as we speak and we may very well see a massive correction at the end of the run but at the same time, it's gonna take a couple while before they stand down and sell. It may not even come because there's no real selling pressure right now which may force these holders to hold off on the tight fists and let go of their positions in the market.

Bitcoin's definitely up for a massive increase soon as the bullrun officially commences, but til then, we'll just have to make do and be prepared for all things, the market's grueling and cruel as we all know, and a single tap from the outside world could literally send it spiraling towards a massive crash, we have to be prepared for when that happens.

This is very insightful! You see, there's load of lessons in what you just shared. It means those who are excited about the Bitcoin price pump but without the knowledge of the impending price correction maybe before or after the halving may just be hit with a surprise and it might not be a pleasant experience for the most of them. It calls for research and some quality learning about Bitcoin and blockchain technology before focusing on it profitability potential. Thanks for sharing your thoughts