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Am I the only one that thinks people are a little too hopeful about bitcoin?


axl2468

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I mean, think about it.

Bitcoin prices have remained stable and has not skyrocketed considerably since 2016-2017. Some experts are saying that the BTC bubble will pop soon. Less people are investing in bitcoin because the hype died out. Heck, Bitcoin mining is useless as an individual (using mining software as a replacement to ads is still a shady but effective alternative though) since almost no profit is made and has driven up the price of GPUs due to aspiring miners.

Yet I still see people too hopeful for the future of Bitcoin (I know some people who think BTC will skyrocket again back to its highest prices in 2016-2017). Maybe it's time to stop thinking of bitcoin as an investment opportunity and just treat it as an actual currency?

Just my opinions and thoughts.

Edited by axl2468
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I am not sure treating it as an actual currency is an option yet, it's limited to too few people and most businesses don't know how to handle it. Also, currency speculation and investment is a legitimate form of making money that people use but I wouldn't call it the smartest way to make money. If anything, the way bitcoin is being treated right now is pretty much on par with how people trade money- waiting to see if it gains or loses a few cents over the long run. Though with bitcoin, it has been thousands and that's not really the making of a stable currency or investment. 

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  • 2 weeks later...

Well, I don't think that any kind of Cryptocurrency, including Bitcoin, can be treated as a currency mainly due to the high volatility in its value. In regard to the optimism in the Bitcoin enthusiast in spite of the recent drop in its value, I would say that i also agree that Bitcoin will recover in the near future and it can still be a good investment option for people who are able to take the risk. However, some amount of caution is definitely required if you are planning to invest heavily in Bitcoins right now.

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  • 4 weeks later...

Not me, Because I treat bitcoin as a good way of investment. I started with cryptocurrency or especially with bitcoin when it's price is still around $3,000 and then after 3 months, it's price skyrocketed to $19,000. I gained a lot on bitcoin that even it's price is going lower now I still believe it will surpass it's current high record.

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22 minutes ago, Caguioa747 said:

Not me, Because I treat bitcoin as a good way of investment. I started with cryptocurrency or especially with bitcoin when it's price is still around $3,000 and then after 3 months, it's price skyrocketed to $19,000. I gained a lot on bitcoin that even it's price is going lower now I still believe it will surpass it's current high record.

Eventually, you have to consider that the bubble will pop in any moment. That's why I don't invest much into bitcoin anymore and just use most of my money for buying bitcoin as a currency to pay for things online (plus, it's convenient for me).

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