Why are people so crazy about buying Bitcoin?

[Trongduy]

Maybe because they think this is the lowest dip or they are preparing for something since we all know there are regional instability or tensions that is currently happening right now. It could be that Bitcoin is their option to safeguard their wealth incase something unexpected will happen. Whatever investors reasons of buying Bitcoin it only means one thing there is something behind it we are not aware of.

I don't think anyone's crazy to buy BTC at 85K dollars, just to sell at 150K dollars in the next few months, that's a smart and sound investment. Right now, many companies are buying and planning to accumulate more BTC, I don't think they're all fools getting FOMO.

Investing is a personal thing, investors always have good reasons to buy or sell an asset. They believe it's the best decision for them at that time, we shouldn't judge or criticize

[albon]

Bitcoin is a really risky investment for those who don't have much knowledge about it. Because the Bitcoin market is always volatile, you need to have experience in knowing when to buy, when to sell, and when to hold. Therefore, it is important to have a diversified portfolio with different types of investments to reduce risk. You should know that there is also the potential for high returns from Bitcoin. Since Bitcoin does not change ownership, it does not operate like other businesses. Furthermore the Bitcoin does not generate revenue by selling goods or services.

[bitterguy28]

Currently everyone wants to buy Bitcoin. Is this the right time to buy Bitcoin?

the right time to buy bitcoin depends on you and recently since bitcoin's price has been declining a bit it was the right time for a lot of people since they can finally buy bitcoin at a cheap price

When the price was low earlier, people did not buy Bitcoin, but today, when the price of Bitcoin increases due to the boom, people want to buy it and invest in it.

only people who are not that knowledgeable about investing do this

many of us who have been here for quite a while knows that you should buy bitcoin when the price is cheap and sell when the price is high

[Kalustx]

There are other Altcoin, Bitcoin is just overhyped here…other coins are doing better in terms of volume

[albon]

There are other Altcoin, Bitcoin is just overhyped here…other coins are doing better in terms of volume

So do you want to buy ethereum instead of bitcoin? But ethereum is far behind bitcoin in terms of value and I think it will remain like this for the rest of its life. Because the price of bitcoin will go up and down quickly so everyone will run after bitcoin. Once an altcoin goes down, it takes a long time to pump it back up. Moreover, people hold altcoins for an indefinite period of time and profit can be made from altcoins in the long term. In that case, you will get profit from bitcoin quickly and for a short time.

[gunhell16]

Maybe because they think this is the lowest dip or they are preparing for something since we all know there are regional instability or tensions that is currently happening right now. It could be that Bitcoin is their option to safeguard their wealth incase something unexpected will happen. Whatever investors reasons of buying Bitcoin it only means one thing there is something behind it we are not aware of.

I don't think anyone's crazy to buy BTC at 85K dollars, just to sell at 150K dollars in the next few months, that's a smart and sound investment. Right now, many companies are buying and planning to accumulate more BTC, I don't think they're all fools getting FOMO.

Investing is a personal thing, investors always have good reasons to buy or sell an asset. They believe it's the best decision for them at that time, we shouldn't judge or criticize

I agreed on you to this statement, I also don't think they are crazy to buy bitcoin but rather Bitcoin is the most trusted investment in terms of long-term in the industry we are in compared to other top altcoins that also have potential.

In general terms, bitcoin is still among the top 1 most trusted investment here and we really see that it is proven and tested all over the world that everyone
also believes in it.

[Findingnemo]

There are other Altcoin, Bitcoin is just overhyped here…other coins are doing better in terms of volume

That's what people said in 2011, 2017, 2020... yet we are seeing the price of bitcoin just keep on rising after every cycle. As a beginner bitcoin is the safe choice than altcoins because it's one vs thousands of choices to pick so the odds are stacked against you when you buy altcoins and they also have no clue when they start so on what basis they are going to choose their coin.

[robelneo]

When the price was low earlier, people did not buy Bitcoin, but today, when the price of Bitcoin increases due to the boom, people want to buy it and invest in it.

These people do not have confidence in their investment; they are afraid that the price will go down further, or they are just waiting for the floor so they can buy. The worst thing an investor does not want to do is to cut their losses.

That investment is profitable for them, so people go crazy to buy Bitcoin, invest in it, hold it and trade, Which gives them a good profit.

You need to have a lot of patience, and the money you invest is a money that you are comfortable losing because there are possibilities that you can lose half of your investment when the market is so bearish.

[Cryptsafe]

Currently everyone wants to buy Bitcoin. Is this the right time to buy Bitcoin?
When the price was low earlier, people did not buy Bitcoin, but today, when the price of Bitcoin increases due to the boom, people want to buy it and invest in it. That investment is profitable for them, so people go crazy to buy Bitcoin, invest in it, hold it and trade, Which gives them a good profit.

Yes, people indeed want to buy Bitcoin, and that is because they already see the future with Bitcoin. Therefore, taking advantage of the current market situation to buy Bitcoin is of utmost priority to them. The adoption is becoming popular every day than it used to be, and the utility value keeps increasing so it will be in their interest to take a position so they do not miss out. The same way people approach bitcoin, same way others approach altcoin too so it is not all about or only bitcoin, investors also invest in other tokens as well for the same reason and others best known to them.

[Rubel007]

Currently everyone wants to buy Bitcoin. Is this the right time to buy Bitcoin?
When the price was low earlier, people did not buy Bitcoin, but today, when the price of Bitcoin increases due to the boom, people want to buy it and invest in it. That investment is profitable for them, so people go crazy to buy Bitcoin, invest in it, hold it and trade, Which gives them a good profit.

Earlier, people did not have good knowledge about Bitcoin. Even though they got the opportunity to buy from the dip at that time, they did not dare to buy Bitcoin at that time. But since people have gained a good idea of Bitcoin, they have been trying their best to collect Bitcoin. Some are investing according to their means, some are doing long-term DCA. As Bitcoin becomes more expensive, people's interest in it is increasing. This coin with a supply of 21 million is gradually becoming expensive. Hopefully, the number of investors will increase more widely in the future.

[target]

Since Bitcoin is assumed to be a money making investment, people buy it. We trade them to make profit that's why. But I don't remember seeing BTC going up today actually. Its just falling the entire day, from 86k down to 81k it could be a reason to buy now unless you are also one of those who panicked and cashed out.

Watched some Bitcoin channel on youtube today, they are telling the world that banks are given a green light to buy Bitcoin. This much be one of the reason for people to buy also.

[ajiz138]

Since Bitcoin is assumed to be a money making investment, people buy it. We trade them to make profit that's why. But I don't remember seeing BTC going up today actually. Its just falling the entire day, from 86k down to 81k it could be a reason to buy now unless you are also one of those who panicked and cashed out.

Watched some Bitcoin channel on youtube today, they are telling the world that banks are given a green light to buy Bitcoin. This much be one of the reason for people to buy also.

Even since the first time bitcoin was introduced, there were many people who doubted and even said it was a scam, and now we can see how bitcoin has become a favorite to invest in.

That reason is also one of the reasons why many people believe in bitcoin, and I'm sure every time there are new people who know bitcoin and invest in it. Bitcoin has succeeded in convincing many people with what it offers.

[Royal Cap]

Hahaha honestly for money. People think Bitcoin is "digital gold" to protect their wealth from inflation and currency devaluation. There are also many other things such as News coverage, social media, and influencers create massive hype when Bitcoin’s price surges. People buy Bitcoin out of greed. But not everyone benefits. A few days ago, Bitcoin even reached 100k dollars. But are those who bought dollars then profitable now?? No, of course not. But those who bought Bitcoin earlier and sold it at 100k dollars are actually profiting.

[JoyMarsha]

There's no single day that passes, we won't have people in the crypto space that are not buying and selling their Bitcoin at time intervals. They will always do that because what most of them are doing is buying at a moderate price and later selling at a high price for profit. The market will fluctuate in price because of that. The market is about the demands and supplies, that's what controls the price of Bitcoin

[Blaze]

There's no single day that passes, we won't have people in the crypto space that are not buying and selling their Bitcoin at time intervals. They will always do that because what most of them are doing is buying at a moderate price and later selling at a high price for profit. The market will fluctuate in price because of that. The market is about the demands and supplies, that's what controls the price of Bitcoin

This is specifically why Bitcoin has always been an interesting asset, mainly due to its constant volatility. They will always engage in each other in one form of a business dealing or the other, hoping to make a profit from a change in the price. As to this, I concur with the given perspective that there is always fluctuation in the price, all due to the fact that it is always determined by the level of demand and supply in the market. Crypto does trade based on some market signals and that is a normal behaviour under the financial system where the instruments are based on cryptos. This activity will persist so long as the people are still embracing the importance of the use of Bitcoin in the future periods.