It's hard to admit, but I was wrong about Bitcoin

[d5000]

the current push from the 2024halving had a push above the 2020ATH($70k) 7 months after the halving

The 70k ATH was already topped in March, and then several times later. March was before the halving.

Halvings themselves aren't that important (the April 2024 halving reduced supply inflation from 1,6% to 0,8% per year). What's important though is that Bitcoin's supply inflation thanks to past halvings (i.e. the halving schedule) is already very low, and thus a rise of demand will be reflected in its price.

the thing is when a market triggers a rise within its cycle, idiots that dont know better try to find some social media/mainstream media news item

Yes and no.

Short-time price movements can be triggered by news. The COVID crash and the Trump victory, but also the dip triggered by fears related to "MtGox" and "Germany" in August are examples. Bitcoin's price is immerse in an attention economy, where buyers and sellers will come and go, and they are definitely triggered by news in some cases. It would be too much of a coincidence that the ATH push over $73600 occurred just in a moment in the US election night when the incoming results slowly but very steadily hinted at a Trump victory.

But I agree that the general uptrend is indeed a simple function of Bitcoin's relatively static supply and a growing demand and network effect. I only dispute the mid-term influence of halvings themselves (after 2016).

[maydna]

Those who don't invest in Bitcoin from a long time ago will regret their decision especially when they see how Bitcoin price now. They will see that they underestimate Bitcoin without trying to research and learning more about Bitcoin so they are not participate in the next bull run. Bitcoin rise when the time comes and it will happen soon so they must change their mindset immediately and start to buy Bitcoin. They are not too late to realize that Bitcoin can be the future of money after what happen so far. So if they realize that they are completely wrong and start to invest in Bitcoin, they are doing a good thing. But everything will be back to them because that will be their decision.

[Questat]

I adore those people who actually admit their wrong beliefs or point of views into something. It only proves that whatever their skill or field of specialization is, everyone can still be deceived with lies and wrong information.

But you know what, there’s still rooms to correct your mistakes and make it right. Invest in bitcoin now, not to impress us, but to prove to yourself that you don’t let you mistake or wrong thinking deprived you from not investing into bitcoin. In the end, the choice is yours to decide. This message is actually for Tony, if ever he’ll read it, not for OP.

[Hatchy]

~

Such people will never understand how valuable cryptocurrency is and will be in the future. No one is actually a predictor of the future, it just depends on how you decide to take risk and become rich. Alot of people commonized Bitcoin back then, calling it all sort of names like scam and trash. But right now they are all running up hill to hop on the btc train and ride to the moon. Bitcoin unlike every other coin is the king and has showed us in many ways that we can trust in it. It's going to make big difference in the future as we will see more global adoption and bigger bodies buying in bulk. I've always had this date that Bitcoin would prove it self worthy.

[Silberman]

~

Such people will never understand how valuable cryptocurrency is and will be in the future. No one is actually a predictor of the future, it just depends on how you decide to take risk and become rich. Alot of people commonized Bitcoin back then, calling it all sort of names like scam and trash. But right now they are all running up hill to hop on the btc train and ride to the moon. Bitcoin unlike every other coin is the king and has showed us in many ways that we can trust in it. It's going to make big difference in the future as we will see more global adoption and bigger bodies buying in bulk. I've always had this date that Bitcoin would prove it self worthy.

Those people still do not understand the potential of bitcoin, they just see its value going up and they lament not having any so they can enrich themselves this way, what they do not get is that if bitcoin is going up in value in this way is not only because the hype, bitcoin is becoming more valuable as the world is facing crises from all directions, with the very real possibility of WWIII happening soon and the awful implications this could bring, so many people are looking for ways to protect their wealth and they are choosing bitcoin as the best asset to do this.

[MeGold666]

...with the very real possibility of WWIII happening soon and the awful implications this could bring, so many people are looking for ways to protect their wealth and they are choosing bitcoin as the best asset to do this.

Everything the government sees can be seized, especially during times of war, as my family has already experienced with land being taken away.

Bitcoin is transparent. If you don't give them your coins (and they will pursue them), they will simply put them on a blacklist (tainted coins). You can't claim a 'boating accident' with Bitcoin. If those bitcoins move, you will be the first to be investigated and anyone trying to use them prosecuted along with exchange account frozen.

The upcoming tax on unrealized gains, which is already on the horizon in many countries, will create a nightmare for anyone holding a transparent asset.

This is why I have chosen Monero for my holdings. I feel much safer when the government does not know how much I have (and I didn’t acquire it on a KYC exchange).

They only know how much I sold in a given year, and from that, I pay taxes.

/Over&Out.

[God Of Thunder]

since the US President Donald Trump won the election, the way the price of Bitcoin has rocketed, they are regretting that maybe the statement they made was completely wrong and it has been proven wrong.

I agree that the US election sparked the market, and Bitcoin has skyrocketed. But I believe Bitcoin will still reach this price regardless of who wins the election. Bitcoin will probably take a couple more months before it hits a hundred thousand dollars, but I am certain that we will hit that price. Didn’t Bitcoin break its previous all-time high before the election?

The haters were proved wrong previously, and they will be proved wrong again. If you don't know, Donald Trump was a hater of Bitcoin, and he posted a negative tweet a couple of years ago. But he has turned into a Bitcoin supporter these days. This could be an example of how Haters turn into Fans.

[PremiumcryptoHub]

If you don't know, Donald Trump was a hater of Bitcoin, and he posted a negative tweet a couple of years ago. But he has turned into a Bitcoin supporter these days. This could be an example of how Haters turn into Fans.

I know that on July 12, 2019, Donald Trump said on Twitter that he is not a fan of Bitcoin and crypto. He was not a fan of Bitcoin because he thought that their prices were very volatile, He even compared crypto assets to drug dealing and other illegal activities. But now he has become a bitcoin fan again. He may now realize that the statements he made earlier were wrong and he has been proven wrong so that the decision he has taken now is right for him. Maybe that's why many Bitcoin haters who previously declared that they are not Bitcoin fans have now become Bitcoin fans after seeing the rise in Bitcoin price.

[goldkingcoiner]

As the price of Bitcoin is currently making record highs every moment, many are now regretting every moment of not investing in this coin. Likewise, Australian market analyst Tony Saicamou is also regretting.

It is never too late to get into Bitcoin.

But what stops many people is the thinking: "Oh well its already at the ATH, it won't go higher and will probably drop soon". And then it goes higher and they regret, once again, not investing.

I have made that mistake many times in my newbie days and I will not repeat it.

Bitcoin is a valuable investment at any price.

[kotajikikox]

I have huge respect for people who can admit they were wrong. It’s really not too late. I mean, yeah, it would have been a lot better if they believed bitcoin back then and bought it. If they had done that, they would have been reaping huge rewards by now.

But it is what it is and no point in dwelling in the past so instead my advice for them is to wait for a correction and buy and wait again until bitcoin starts to surge before taking profits. Now that they have made peace with the fact that they were wrong, I would assume they now have learned their lesson.

[davis196]

The Bitcoin price skyrocketed just because a Trump won the presidential election. If Harris won the election, we wouldn't see a 98K USD Bitcoin price anytime soon. The financial markets are heavily influenced by politics. This is the sad truth. This guy claims that he was wrong about Bitcoin only because the BTC price hit 98K USD. If the price was still in the 50K-58K area he would most likely have a different opinion.
The human civilization seems more and more like a joke to me. Maybe we are heading towards the end. A banana got sold for more than six million dollars. Justin Sun bought it. Isn't this a joke?

[nullama]

The beauty of Bitcoin is that it doesn't care about the opinions of people.

It's a protocol. It just works, independent of any whims of a CEO of a company.

Companies come and go, but Bitcoin will continue generating blocks, roughly every 10 minutes, until the last satoshi is generated to the lucky last miner.

And Bitcoin will continue to be more and more scarce.

[FortuneFollower]

The beauty of Bitcoin is that it doesn't care about the opinions of people.

It's a protocol. It just works, independent of any whims of a CEO of a company.

Companies come and go, but Bitcoin will continue generating blocks, roughly every 10 minutes, until the last satoshi is generated to the lucky last miner.

And Bitcoin will continue to be more and more scarce.

That's why we need to understand that BTC is there to stay and its ideals that it upholds too - nothing to worry or mourn about.
Anyone can still get into it, learn about it, and, after that - invest in it.

[Lucius]

~snip~
This is why I have chosen Monero for my holdings. I feel much safer when the government does not know how much I have (and I didn’t acquire it on a KYC exchange).

They only know how much I sold in a given year, and from that, I pay taxes.

/Over&Out.

First you buy something without KYC and without the state even knowing you bought it - and then you sell the same thing (I don't know how) and pay taxes? To pay taxes, you probably have to show them proof of incoming and outgoing transactions, which then completely nullifies any anonymity you achieve in the first step.

[lizarder]

As the price of Bitcoin is currently making record highs every moment, many are now regretting every moment of not investing in this coin. Likewise, Australian market analyst Tony Saicamou is also regretting. 2 years ago today this guy joked that crypto would never be the future of money. But now, since the US President Donald Trump won the election, the way the price of Bitcoin has rocketed, they are regretting that maybe the statement they made was completely wrong and it has been proven wrong.

There are many people who may have the same fate and even dare to make a short video saying that bitcoin will not be the best in the future, but now they can see how bitcoin can show something else from the negative thoughts they previously expressed. Even if we say that the rise of bitcoin is entirely influenced by Trump's victory and I don't think it is an indicator at all because there are indeed many other factors such as the cycle that is reached at the stage of the increase as we see.

With the evidence that has been presented, we don't need to give any arguments to such people because they can see for themselves how the price jump can go beyond their current thinking. Welding or not will not affect them and if they still think narrowly they will always be in regret.

[reagansimms]

Better to realize it late than never, Tony Saicamou is an example of someone who jumped to conclusions too quickly without first trying to find out more information about Bitcoin. He is not the only one who regrets that Bitcoin did not have a bright future, now that they can no longer go back in time to buy Bitcoin at the price it was trading at 2 years ago. I don't know what was going through his head at that time, but because of that statement he threw away a golden opportunity to gain multiple profits. However, he should learn from the experience. He still has a chance to profit from Bitcoin investment because the Bullish Trend has just started.

[m2017]

As the price of Bitcoin is currently making record highs every moment, many are now regretting every moment of not investing in this coin.

With each new BTC-cycle this is repeated anew. People learn absolutely nothing. From cycle to cycle.

Likewise, Australian market analyst Tony Saicamou is also regretting.

He turned out to be a lousy market analyst.

2 years ago today this guy joked that crypto would never be the future of money.

Well, this guy probably got it right with that prediction. I'm also inclined to be skeptical that bitcoin will become the money of the future (this will not prevent the price from going up), because CBDC is being prepared to take its place.

But now, since the US President Donald Trump won the election, the way the price of Bitcoin has rocketed, they are regretting that maybe the statement they made was completely wrong and it has been proven wrong.

What's the point of regretting now? You should have bought it. Or even bought it now, so you don't regret it again in the future.

From cycle to cycle, you only hear their next regret.

It's a serious struggle for non-believers like me, who dismissed crypto as a joke and nothing more than a Ponzi scheme for the likes of gamblers and criminals, but now we're looking like shocked mullets as the price rises week after week.

Well, finally this guy had a revelation. Although he could have waited a couple more BTC-cycles to figure out what was going on.

[fullhdpixel]

Those people still do not understand the potential of bitcoin, they just see its value going up and they lament not having any so they can enrich themselves this way, what they do not get is that if bitcoin is going up in value in this way is not only because the hype, bitcoin is becoming more valuable as the world is facing crises from all directions, with the very real possibility of WWIII happening soon and the awful implications this could bring, so many people are looking for ways to protect their wealth and they are choosing bitcoin as the best asset to do this.

I am not against being a sceptic about anything, if you really want to be curious and doubtful at the same time that's fine, but be open minded about all the potential, there is no other way at all. We need to realize that this is going to be a tough deal and you can't just get out of this with "no it will not go up", you have to say "maybe it will, maybe it won't" and I would totally understand people not having the courage to invest when it was lower as well, plenty of people didn't.

But saying that it won't go up, and then seeing it go up, means that he was dead wrong and that's what makes him admitting now that he was wrong about bitcoin. This is going to be a tough situation for many people to accept but it's the reality.

[Jawhead999]

But saying that it won't go up, and then seeing it go up, means that he was dead wrong and that's what makes him admitting now that he was wrong about bitcoin. This is going to be a tough situation for many people to accept but it's the reality.

The old Warren Buffet still not talking anything about Bitcoin, why there are no reporters that ask him instead of discussing about the stock he sold.

It seems he's hard to accept that he was wrong, that's why he hide himself and probably comes to public when Bitcoin in bear season. Neverthless, we know that Bitcoin is stand regardless what other people say including those popular figures.

[Agbamoni]

I feel offended when people completely give credit to Trump regarding the new ATH for Bitcoin

There is something this guy still needs to understand regarding Bitcoin before he goes around creating a buzz on the internet. Bitcoin supported Trump to win the election not the other way round. It was a result of the majority who wanted to see the progress of Bitcoin based on the political promises that made them support Trump.

In the short term his impact was felt after he won, but with or without him the price was literally going to see a significant rise due to its cycle (halving period).

However, a lot of encouragement for whales and new bitcoiners came as a result of Trump's wins