Quote from: Hewlet on Today at 07:07:34 AM

Quote from: GeorgeJohn on August 02, 2024, 08:19:32 PM

Quote from: maydna on August 02, 2024, 11:11:48 AM

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The is that people doesn't understand that increment of price of bitcoin doesn't take effect just like that but I know that what skyrocket the price of bitcoin is when the demand is higher the supply and the price of bitcoin will go up.

demand plays a part in Bitcoins price increase but it's not necessarily that it's when demand exceed supply that Bitcoin price skyrocket since the supply of Bitcoin is actually fixed. Just like in every other sector, the higher the demand for Bitcoin leads to the increase in the price of Bitcoin which is more like the higher the numbers of buyers and HODLers, it goes on to affect Bitcoin price positively while the more people sell thier Bitcoin, it affect the market negatively. It's just a simple economic principles that works hand in hand with news and other market conditions to determine the price movement of Bitcoin.

Quote from: GeorgeJohn on August 02, 2024, 08:19:32 PM

People who is lamenting of the price of bitcoin will get to one hundred thousand [100k] so I know that the price of bitcoin is constant or stable, so base on that note we don't need to think otherwise towards bitcoin price going up and down.

seems you're mistaking The amount of Bitcoin in circulation and the price of Bitcoin as the same thing. What's fixed is the amount of Bitcoin in circulation and not Bitcoin price. Bitcoin being volatile in price with Bitcoin having a fixed amount in circulation doesn't mean the same thing. For the fixed amount of Bitcoin in circulation, it means that the totally amount of Bitcoin that can be bought or mined by everybody in the Bitcoin ecosystem is just fixed and can't be exceeded while if you're talking about the price of Bitcoin which is volatile, you're considering that with respect to demand and some other factors that plays a role in Bitcoin price movement, Bitcoin is going upward which is what's evident to all and that it has also witness some level of correction and will still experience it in times to come. It's just the nature of the fact that Bitcoin is volatile.

From my understanding, I don't think that the amount of bitcoin is circulation is fixed because some people have lost their private keys and don't have access to their bitcoin and that makes their bitcoin to be locked in the blockchain. Also some people are hodli their bitcoin in their private wallets for a very long time now which reduces the amount of bitcoin in circulation. At every 10 minutes or before a new block is mined and it comes with some bitcoins and incentives.

When most people are selling their bitcoin, it makes the prices of bitcoin to dip but when many people are buying and we are having new adopters, it will increase the price of bitcoin and that is why the halving event helps to trigger a bull run after some months, because the number of bitcoin that is given to miners as their mining reward is slashed into two. However, whatever price that bitcoin offers us is the best price for us to accumulate bitcoin especially new investors and low coiner.

Long-term investment and DCA accumulation strategy does not care about the price of bitcoin but only cares about constant buying weekly or monthly to take advantage of the market and build up your bitcoin stash at ease for the duration of time you will use to reach your bitcoin target.

What causes the market to dip or pump shouldn't be our concern but our concern should be do we have enough bitcoin in our portfolio and if NO..just keep on buying continuously with DCA.