Is BTC's rise sustainable?

mandrew82002 · January 12, 2021, 6:17pm

If you’re like me, you’re obsessed with the Bitcoin price. I’ve been involved in crypto since 2017 and have been burnt badly, mainly by dodgy exchanges. But also through the big crash throughout 2018. Many of my friends won’t go near it again, which I feel is a pity. But then I always have a nagging doubt that it could all just vanish in a matter of days.

I came across this article which has reassured me. BTC is truly a unique asset that perhaps is not going to be truly understood by the establishment for a long time.

Anyhoo, I thought this article is well worth sharing with you guys

predictor · January 12, 2021, 6:57pm

Nice share
Hope you got pass the problem with dodgy exchanges and don’t be afraid of this price action!
If you look at the numbers in relative terms then this situation isn’t something totally new.

mandrew82002 · January 12, 2021, 9:04pm

No I’m not. I’m much more confident and hardly flinch when it drops 20 odd percent in a matter of days. When you compare that to its increase it is a trifling amount. My hands are strong!

KarenM · January 12, 2021, 10:51pm

All cryptos are very risky and volatile at this point but I do believe Bitcoin is sustainable. Others will come and go and be gone forever but BTC is sticking around!

mandrew82002 · January 13, 2021, 10:14am

I agree, a lot of the altcoins will disappear as the market matures. However, until those coins detach from the BTC price they are going to be financially viable…unless as in XRP’s case the authorities pull the plug. Pulling the plug on BTC is virtually impossible, there’s no one to go after.

PynkIan · January 13, 2021, 11:15am

Playing ‘Devil’s Advocate’: that may be a strength but isn’t is also one of BTC’s greatest weaknesses and a significant barrier to becoming a globally accepted financial instrument?

predictor · January 13, 2021, 11:50am

I’d say that would be a strenght because that system has to be more transparent and be flawless to work that way.
It pushes you to work all the things out.

mandrew82002 · January 13, 2021, 11:53am

I would say not. It is mathematically based so when tough times, like now, come along it is impermeable to the control of desperate governments. Bitcoin or a form thereof will continue no matter what happens in the world. So whichever financial body will not accept it will put themselves at a disadvantage. The tipping point hoves into view.

mosigman · January 13, 2021, 1:00pm

Seems to me that the situation now vs. 2018 is a bit different given that institutional investors are now holding positions in BTC… volatility won’t go away, but I don’t think a crash like the one we saw a few years ago is on the cards now

Eva · February 21, 2021, 12:04pm

Fascinating article about bitcoin: Bottom line: rallies start when mining rewards halve (last halving: May 2020). Rallies last about a year, are followed by crash, but then value (mostly, and slowly) recovers only to rally again after next halving period.