Quote from: Marvell1 on Today at 07:36:56 AM

Quote from: dezoel on October 28, 2024, 07:44:03 PM

Quote from: Marvell1 on October 28, 2024, 12:03:56 PM

What do you base your estimate on for Bitcoin price to reach $80-90k this year? You cannot just rely on one factor that because there are many people holding bitcoins, the price of bitcoin will definitely increase in the near future. I agree that the value of an asset is determined by supply and demand, but we need more catalysts than that if we want bitcoin price to rise. We cannot expect bitcoin price to increase when the world economy is unstable due to war, inflation...and that is exactly what we are experiencing.

Bitcoin is unpredictable and it all depends on the impact of the economy. I know people are relying on the past to make predictions but I do not rule out the possibility that the historical scenario may change.

I would say most of the people in the world think it will go up, and that could be the same reason. Normally during halving years, the year ends going up, and then the next year starts going up too and then maxes at a peak. This means, we need to go up this year, and we did, and we are nearly at 70k, check where we started the year and check where we are now.

So we just don't see a reason why that should drop, I get that it may not be great for some people, but I also understand it's still fine for most and shouldn't really be a big deal at all. If we have gone up so far, then there is no reason to not keep going up, we just believe what happened so far will continue to happen. And considering we are already at near 70k, then where are we going to go? We can't just go to 73k and call it a bull run, if there is a bull run that starts at 70k, then the price must reach 80 or 90 thousand dollars to call that a bull run. This is the simple logic for most bullish people.

I am not saying that bitcoin will not continue to rise or that the bull run is over, I like everyone expects bitcoin to rise more in the final months of the year and to explode even stronger next year.

But to me, it seems like people are too dependent on history and think it will always repeat itself but people forget that in previous bull cycles, we didn't have wars, we didn't have inflation, we didn't have crises...and like I said, all of those things can cause the market to change its behavior. What I mean is, history will change a little bit, maybe the bull season will come a little later because things are not like previous years.

Personally, I am still looking forward to the election results, further developments in the Iran-Israel war, and the Fed's rate cut. I believe all of these will have a significant impact and determine the direction of bitcoin. This has never happened in previous bull seasons and that is why I am worried that history may change somewhat.

You are deluded to the extent that you are trying to either suggest this time is different and/or to under appreciate bitcoin's pattern, and that is probably part of the reason that you have been around for a long time, yet you likely have been missing every single bullrun becuase you fail to invest into bitcoin and you are fucking around with shitcoins or trading, and through all of your history, you still have not figured out what is bitcoin.. .and you have failed, refused to prepare for UP, and you continue to rationalize your failure/refusal to prepare for up.

Just consider if you had not been so bearish on bitcoin, at minimum, you could have at least gotten some bitcoin in mid-to-late 2022 or even throughout a large portion of 2023, yet you likely fucked around and continued to fail/refuse to recognize bitcoin's upside potential.. and now BTC prices are not going back to those levels even though you likely sold too much too soon and/or failed/refused to buy. and yeah, have fun staying poor, unless you change your tune and start to stock up on bitcoin. .at least you should be ahead of the game as compared to a lot of folks who have never gotten involved in bitcoin (the no coiners out there who still have not even touched dee cornz), yet you are likely going to be your own worst enemy with your ongoing failure to appreciate up and to overly emphasize downside scenarios that are way less likely to occur than you are expecting them to be.