Topic: [2017-08-15] Bitcoin Price Hits at $4,419, Stock Researcher Forecasts $7,500 (Read 17629 times)

Maybe it would be better if price come and contained at near 4500$ level, at least for a month. Recently we heard a lot of news, many of them are not very pleasant for investors, such as ICO ban in China, bitcoin need stability now, like a gold, to assure  crypto contributor that their money are in safe and makes profit.

I am also calm about the price drops. This gives me the chance to buy more coins at a cheap price.
Now it seems to us a great price of 7000, but I think that this can happen in the next six months

That’s not bad at all given that the price of bitcoin rose from around $1K in January 2017 to about $3.5 in August 2017 and it even got into $4k in August. Provided that people do not interfere with the affairs of the currency (I mean the people of the inner circle)

Why are you worried? An adjustment is but natural. As long as the price appreciates in the long-term, it is good for investors. Of course, traders might be caught wrong-footed by rapid price movements.

The last few days the price continues to grow. It gives me double feelings. On the one hand, I am very happy about this. But on the other hand, I'm worried that there will be an adjustment soon. I do not believe that bitcoin can reach a price of 7500 without adjustment

That’s not too much though, but compared to present day it’s a really big thing because bitcoin was a currency that nobody expected to even reach up to where it is right now and its even going higher than expected daily

There were always a lot of different opinions around bitcoin. I think that no analyst can accurately predict the price of bitcoin. Therefore, we see very different data in the news. In any case, one of the forecasts will come true

Goldman Sachs claim of Bitcoin going back to $2000 is BS. Ronnie Moas claim of Bitcoin reaching $7500 before the year ends is quite agreeable. The reason being his claim of increase in investment turning towards cryptocurrency is quite justifiable. There is a recent surge in demand because of many reasons. Price was in uptrend since April because of demand increase and continued till today with a halt in July because of uncertainty of fork.

There are many reasons for the increase in demand such as countries recognising Bitcoin, various banks integrating it into their systems, media is covering cryptocurrencies more, Bitcoin being the best investment asset this year and there is a increase in awareness of cryptocurrencies.

Who are we supposed to believe now? Goldman Sachs who predicts that bitcoin would increase to 4,800 before going down to 2,000? Or that researcher who predicts it might go to 7,500?

There are a lot of bitcoin trading experts now. It is hard to choose who to follow.

They do not want to make a direct ban on crypto currency. This will cause a big negative wave in society, and the new government does not need it. Therefore, they will act in disguise. Simply complicating the use of crypto currency for residents

This US government seems to be more interested in pursuing the thieves and at the same time harming innocent people, see btc-e case and so many other cases, they have not banned bitcoins but it seems they are using a middle ground to say: We do not like bitcoin

That's only speculations but concrete evidence that it could go that high before the year ends. But this is possible though. We know the potential of bitcoin. Bitcoin price after 2016 is surprisingly doubled. From $2000+ to $4000. So theres no impossible on bitcoin. Maybe you are right that we need the price to be corrected. But that doesn't mean that the possibility of reaching that price is impossible. It could go down a bit but im sure before the year ends the price will pump again.

Anyway, bitcoin just reached the $4400 price. Bitcoin never stops surprising me. My prediction is $6000 before the year ends. I heard that Russia is now competing and joining the bitcoin mining industry. Expect other huge countries like US to go serious.

700 this year? Those people are extremely bullish. I'd like to remind all believers that it would mean almost doubling the current value. Instead of predictions I'd like them to explain where is so much fresh fiat going to come from? We're talking about billions here.
Of course, the hedge fund theory... People were speculating about ift for years and it always ended up just like ETF and bitcoin on wall street  
$5000 this year? Maybe. $7000? Nope.

Increase our coin count and then hold wait for the perfect timing to dump our coins. I also do agree that with Segwit activation we may see around the $5000++. I guess a healthy correction is needed from time to time so that new entities can come in and experience how's it like to be joining the bandwagon. Right now the price goes up again, telling us that some have already get in pushing the price again to this level. Again, I'm sure that investors will cash out when the price goes to $5000 after segwit has been implemented.

A lot of guys are giving bullish predictions about Bitcoin, ranging from $7,500 per coin to $500,000 per coin (the last prediction was given by John McAfee, who set 2020 as the target date). That makes the prediction by Goldman Sachs to stand out as the odd one (they predicted that Bitcoin will correct itself to $2,000 per coin).

Considering that Segwit is one of the main reasons the price is thriving to current levels, I do expect the market to correct itself to a bit more appropriate levels in the short term. As soon as Segwit has been activated, a major reason for the price to go up will be taken away - this isn't something you just can discard. Sure, eventually it will reach back to $4000>$5000, but we need a bit more patience for that. My personal guess is that we'll be testing the $3000 level again before we're going back up. If the overall buy support remains thin, we may even fall slightly below the $3000 level, but it will be a brief visit. Instead of looking at this from a negative point of view, look at this as being a great buy back opportunity to scoop up a few extra coins before the price starts climbing up again. I think it's fair to say that the main target of most people here is to increase their coin count.

I think many people have realized that bitcoin is here to stay, one way or another.  Getting the blessing of Goldman for example helps.  Previously there were some who felt that way, but many who panicked first and sold quickly because they thought the end was here.  Now there are still plenty who panic, but there are many more than previously who say "buying opportunity" - like today with the dip to the 3900s.

The larger the population that sees the potential, the more we'll have shorter panics. In theory.

I think growth can be sustain once segwit got activated a week from now. We are now seeing a correction, after peaking at $4500 yesterday. Is good price correction though so that new set of hands can enter and see how everything goes in the crypto world.

It really fascinating to see those experts talking about the bullish run of bitcoin. They are making bitcoin reach in an extent some new people that will probably willing to pour funds thus pumping the price to new heights. segwit activation will really validate the long term price of bitcoin which is to go up in the next couple of years.

Always when the market is going up big time, people tend to exaggerate their predictions. We must not forget that if we are seeing the price go up to $6000 or $7000, we have seen the market grow with at most 600% within a year!!

These type of increases mostly only happen when altcoins get pumped badly, but not with Bitcoin. If we seriously happen to go that high, things start to look like a bubble.

As mentioned by the above poster, we can't just expect the price to go up without taking a few steps back first. I am curious to see what will be left of this growth once SegWit has been fully activated.

I don't think I have ever experienced a period of time where the bullish sentiment has been higher than what we have been experiencing lately. I of course hope that we'll be reaching +$7000 levels before this year ends, but I think it would be a healthy situation for the market to consolidate first. I know a lot people would like this to happen, but everyone should realize that nothing only goes up in value -- we need corrections to reach new record highs.

Bitcoin Price Hits New All-Time High at $4,419, Stock Researcher Forecasts $7,500

Carrying this week’s upward momentum triggered by the scheduled activation of the Bitcoin Core development team’s scaling solution Segregated Witness (SegWit) and increase in demand from institutional investors towards bitcoin and rising adoption, bitcoin price established a new all-time high at $4,419 on August 15.



Upon establishing a new all-time high, the bitcoin price suffered a minor correction, dropping from $4.419 to $4,236. Still, on a 24-hour basis, bitcoin has recorded a 2 percent daily increase.

Many analysts including Standpoint stock researcher Ronnie Moas, who successfully predicted the recent surge of the bitcoin price to $4,000, noted that bitcoin has the potential to surpass the $7,500 mark before the year ends.

“What’s happening is the floodgates are opening. I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars. You can’t look at this as a normal situation. We’re in an industry that will probably go from $140 billion to $2 trillion and the bitcoin price will probably move with that,” said Moas.

Specifically, Moas emphasized the exponential rise in the involvement of institutional investors within the bitcoin and cryptocurrency markets, attributing such abrupt increase in demand as one of the driving factors of bitcoin’s recent rally. As key players in the finance sector including the Chicago Board Options Exchange (CBOE), the largest options exchange in the US, continue to establish necessary infrastructures for institutional and retail investors, the cryptocurrency market will grow in terms of market cap and daily trading volumes.

In a note to the clients and portfolio managers of Standpoint, Moas explained:

“I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users — up from approximately ~10 million today. We only have 0.15% market penetration right now — if that goes to 2% or 3% we will get to the $50,000 price target that I set at the beginning of July.”

Previously, merely 12 months ago, the bitcoin and cryptocurrency exchange markets lacked overseas regulations, robust infrastructures and sufficient liquidity for large-scale traders. Today, leading bitcoin service providers including the $1.6 billion bitcoin startup Coinbase and US-based regulated bitcoin exchange Gemini are collaborating with institutions like CBOE to drastically increase liquidity for institutional and retail investors.

As large sums of investments and capital flow into the bitcoin exchange market in the upcoming months, upon the completion of CBOE’s bitcoin integration and increased adoption from investment banks, the value of bitcoin will likely rise at a substantial rate, as noted by Moas. In consideration of the rapidly rising demand from investors, Moas’ $7,500 price target is a realistic year-end objective for traders.

Earlier this year, respected financial analysts including RT’s Max Keiser and Tone Vays revealed their predictions, stating that bitcoin price will hit $5,000 before 2017 ends. Moas increased his $5,000 price target to $7,500 in consideration of bitcoin’s recent strong rally. The imminence of SegWit activation and the launch of a bitcoin options and futures trading platform by CBOE are two major events which investors and traders should keep an eye on throughout August. CBOE’s integration of bitcoin will significantly increase liquidity for large-scale bitcoin traders, which the Winklevoss twins are aiming for.

Tyler Winklevoss, the founder and CEO of Gemini, wrote:

“Gemini’s key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors.”

Source
https://www.cryptocoinsnews.com/bitcoin-price-hits-new-time-high-4419-stock-researcher-forecasts-7500/