Recently, I have seen often talking about how Bitcoin is not going up fast enough, I usually see this mostly on social media. I haven't really seen it on this forum but I'm bringing it here just in case there are people here who have similar views
Almost exactly a year ago, the Bitcoin price was $30,534 on the 27th of June 2023. This was a year ago and at the time, this was a pretty impressive price because Bitcoin just hit $30k. A year from that time bitcoin is at $61, 423 (at the time of writing), that's a 100% increase in price and a 100% profit if you invested at the time.
A few months ago, we were celebrating Bitcoin at $40k, so how come now that Bitcoin is at $61k we're unimpressed? How is $60k looking ordinary when the previous ATH before this year was $69k?
I understand that we all want Bitcoin prices to skyrocket (which it's actually doing), but that doesn't mean Bitcoin is performing poorly. A lot of people expected Bitcoin to get to $100k immediately after the halving, but by history, it's usually not so.
In conclusion, this post is for two sets of people;
Those who believe it's too late to invest in Bitcoin because you can clearly see how Bitcoin has grown in price in the past year.
Secondly, the post is mainly for those who believe Bitcoin is underperforming because it's not at all.
It is not moving fast enough, you said it yourself. The thing is that bitcoin's trend is upwards, exponential even, which means this current trend is not up to par nor to the expectations of the people within the space, especially those who expect bitcoin to be at a solid 80-ish or 76k at the very least this point in time.
At the end of the day, nothing too out of the ordinary, nor a cause for concern, we're still on trend, for one. There's always a massive decline in bitcoin price after the halving, we haven't gotten that until a few days ago, and we're expected to test this before we can really get going.
People shouldn't focus too much on the statistics nor the numbers cause bitcoin's more dependent upon the people who invests in it rather than the market behavior. If we start paperhanding now we'll definitely lose money and may even lead to the death of the crypto titan.
