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Bitcoin enthusiast feel that harder the fall higher the rise in the coming days, do you agree?


JPK0007

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Bitcoin is undoubtedly one of the most popular forms of cryptocurrency available in the market. People who have invested in the past have definitely earned huge profits on their investments. However, there has been a sudden fall in the value of Bitcoin in recent days. The critics of Bitcoins say that this is the beginning of the end of the cryptocurrency bubble. However, Bitcoin enthusiasts feel that this is just a temporary setback for Bitcoins and they believe that Bitcoin value is going to bounce back very soon. According to them harder the fall, higher the rise in the near future. Do you agree with this? What are your views in this regard?

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It seems that Bitcoin also follows the law of supply and demand. The main factor to get it's price up is if its demand increases. So it's imperative for the cryptocurrency to be majorly used as a mode of payment to have a need for it because as of now, all it is about is a digital currency and nothing more. (as far as I know)

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i agree in part. As long as it's not permanently dead (which it will never be), then there's always a room to rise. Moreover, I think we should buy when it's at the lowest point of price.

Unlike other cryptocurrencies, I think Bitcoin will outlast them all.

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On ‎12‎/‎8‎/‎2018 at 4:15 PM, NerdIndeed said:

It seems that Bitcoin also follows the law of supply and demand. The main factor to get it's price up is if its demand increases. So it's imperative for the cryptocurrency to be majorly used as a mode of payment to have a need for it because as of now, all it is about is a digital currency and nothing more. (as far as I know)

Well, i dont think that Bitcoin will be accepted and widely used as a mode of payment in the market in the near future. It needs the approval of the Governments throughout the World to accept Bitcoin as a mode of payment which is not likely to happen. If online sites start accepting Bicoin as a mode of payment on a larger scale then the acceptance of Bitcoin can increase steadily. However, given the present uncertainity in the value of Bitcoin, this also does not seem like a possibility in the near future.

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42 minutes ago, Kakashi2020 said:

There's a lot of Bitcoin experts and analysts which have predicted the wrong things about Bitcoin. It seems that it's so erratic that no one could predict it's movement. As for the future of Bitcoin, you could be right that it's price might have major fluctuations due to some market factors.

There are only two possible outcomes, either it goes high and becomes the leading cryptocurrency (and overall currency), or it falls and disappears. Looks at Ethereum. It's practically gone now.

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16 hours ago, JPK0007 said:

Well, i dont think that Bitcoin will be accepted and widely used as a mode of payment in the market in the near future. It needs the approval of the Governments throughout the World to accept Bitcoin as a mode of payment which is not likely to happen. If online sites start accepting Bicoin as a mode of payment on a larger scale then the acceptance of Bitcoin can increase steadily. However, given the present uncertainity in the value of Bitcoin, this also does not seem like a possibility in the near future.

In the near future, you mean two to three years time? Perhaps, but we'll never know what will be the developments regarding it, and adoption might be possible in as soon as five years. Like I've said, all it takes is a giant e-commerce platform to accept payments of it, and everything will change.

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