How come BTC is not at least $75,000 yet?

[wallde 10]

The US dollar is depreciating in value. The euro is depreciating in value. All national currencies are inflating, oil prices are skyrocketing, and BTC is still only $36,500! People should acquire BTC in droves; it's something I don't comprehend why they continue to use the shoddy FIAT instead. All of FIAT will make you poor! Don't come sobbing to me when BTC reaches $100K, because FIAT is now the worst investment one can make. BTC is still dirt cheap when compared to its potential; too bad folks don't see it; have fun remaining poor while continuing to enrich those bankers. Unbelievable

[malk0n 48]

It's all right. I believe there will be some reaction in the bitcoin market as a result of the debt declared by these large countries. But, as previously stated, there is no need to haste. It will happen someday, and we will be in the driver's seat.
We were almost there, but it was turned down. Let's wait for the reversal, and who knows maybe this year of bearishness will break the cycle and usher in another bullish round.

[zardinark 56]

As of now, the price is a good time to enter the market, but it is predicted to rise again owing to popular demand, as people who have been patiently waiting for the lowest price enter the market in droves once the price begins to rise again. It appears to be difficult to believe, but if this is not the case right now, it will undoubtedly increase after months of patiently waiting. However, if you decide to invest now, be prepared to keep your investment for longer than intended and to stop thinking about it for a time. The golden rule is to avoid taking out a loan only for the purpose of investing in cryptocurrencies.

[venna 15]

It's quite straightforward.

1. Many people (especially in first-world countries like the United States) believe they don't need bitcoin.
2. Many institutional investors (or individuals in general) still believe bitcoin is a ponzi scheme or a fad.
3. Even in 2022, only a small percentage of people (and bitcoin holders) are aware of its significance. The majority of people here believe it's a get-rich-quick scheme.

[Karloof 9]

There are several causes for this.
One is that inflation is not a new phenomenon. Fiat has always lost its worth, so people are used to it, and we know that we can't really expect substantial changes in people because they are always the same throughout their life. As a result, they cling to the sinking ship of money, especially if inflation remains unchanged. It could be a different picture if we have a major dump in which fiat loses a lot of value (like the 2008 recession).

Another issue is that the media and governments have pushed a lot of incorrect information about bitcoin with the support of the corrupt banking system. They've been doing it since bitcoin's inception. As a result, there are people who accept the FUD far more than the facts. Someone who has been informed for 13 years that bitcoin is "fraud" is unlikely to wake up one day and realize that those labeling it fraud are the biggest con artists of our time.

I should also emphasize that, despite our expectations, the surge is still occurring on a large scale. For example, the price was $7000 in January 2020 (2 years ago) and is now around $40000, a nearly 7x increase.
Granted, we're now trading at an unusual price that, in my opinion, is well below fundamental value, but you have to accept that when you zoom out, you can see a big increase.

[zcxpleasant 23]

First and foremost, why only 75.000? Why not a million, a half-million, or a thousand? The figure is quite arbitrary.

If we look at the big picture, Bitcoin is doing fairly well, as #2 has previously stated. I recommend comparing the current price to a moving average, such as the EMA-200, rather than a short-term peak like the 67.000$. We're not far from the apex of this indication, which was over $50K.

The recent decline, which sent us back into the 30-40K range, was most likely propelled by the stock market's downtrend (powered by anticipation of rising interest rates), while there wasn't enough news for Bitcoin to meaningfully diverge from Nasdaq/S&P 500, etc.

[DorkBedrock 63]

Bitcoin is still a speculative asset with dramatic price swings due to people's ability to freely exit or enter the market. Last time, we were almost at $70k, and now we're around $30k+, demonstrating bitcoin's incredibly volatile nature. Also, because most people do not understand their economy, they believe that holding their money in banks is the safest way to weather the storm, even if the value of the EUR and USD is plummeting.

[enunciatede 40]

Another factor could be the money invested in altcoins rather than BTC. If there had been simply BTC, it's feasible that $75K would have been attained.

I saw a diagram of money flow in different phases of a bull market that looked like this: Fiat > BTC > Large Caps > Medium Caps > Low Caps/Gems > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable Coins > Fiat/Stable The process is a market cycle that repeats itself.

[alliebear 1]

I'm in the same boat. I'm also perplexed as to why Bitcoin's price remains so low in the face of so much good news. Shouldn't it be at least $100,000 by now? The pandemic hasn't gone away. The global economy has yet to fully open and revive. Fiat currency is depreciating at a far faster rate. Inflation has surpassed the point where it can no longer be tolerated. People are continually coming up with new strategies to keep their money.

But I suppose the main reason Bitcoin is so cheap is that the majority of the circulating supply is held by a few whales, institutional investors, or whatever. If two of these whales decide to sell, the market may fall. I don't believe ordinary investors' demand would be able to absorb a large flood of dumped Bitcoin from large investors. Not to mention the fact that many of these ordinary investors are merely reacting to current market conditions. They are afraid, they are FOMO-ing, and they are simply reacting emotionally. And Bitcoin is still a relatively unknown currency.

[dering 65]

You don't think realistically, in my opinion, because you want everyone to think or know the same way you do, which is impossible to achieve. Why would anyone buy Bitcoin right now if there is widespread consensus that we are in a bear market with the price only going down?

While it is true that fiat currency is losing value and inflation is increasing, the price of Bitcoin has more than halved in just a few months, which is more than enough incentive for most people to avoid hazardous investments. People live on fiat every day, and few have enough to set away a portion of their income for hazardous investments, especially over time. However, when we look at how much money is flowing to the NTF, perhaps a rabbit is hiding in the bush.

[destutter 16]

That, I believe, is due to people's continued faith in fiat. They don't want to see a new opportunity to become wealthy. Aside from that, they don't have open minds when it comes to new things that might be worth investing in the future, and they're still trying to make do with what they have. We can't make them like or use bitcoin because it's a personal choice that we should be aware of.

They are hesitant to utilize bitcoin because of its volatility, and they are not prepared to have their money values fluctuate on a regular basis. However, if bitcoin reaches its all-time high price, they will be sorry and blame themselves for not listening to us. Let them make their own decisions, and we can spend our time accumulating bitcoin at any price we desire.