Topic: [2017-17-05] Bitcoin Price Will Hit $20,000 Before Tanking: Financial Expert (Read 6754 times)

One exchange doesn't mean much, especially since it's not the biggest one. We are still at 17k and will probably stay below this until the CME trading gets to full steam. Then we should be punching through that resistance with ease. 2018 will surely be an interesting year for BTC. It will either go to $50k or people get scared and move somewhere else. Either way it's going to be a good year for cryptocurrencies because the money invested in cryptos tends to stay in cryptos.
We are going to be making money either way with BTC or BCH or LTC or maybe some new coin like ADA or IOTA.

At 8:27am US pacific time it hit $19,340 on Coinbase.  I don’t know if it got slightly higher or not, because that was when Coinbase started having capacity issues. So it almost hit $20,000 today.

Bitcoin Price Will Hit $20,000 Before Tanking: Financial Expert

Michael Spencer, CEO of NEX Group Plc, a London financial expert, sees bitcoin’s price reaching $20,000 before reversing steeply, joining the cadre of financial leaders who claim bitcoin is a bubble,

Spencer told Bloomberg TV's Guy Johnson in London that he has no idea if bitcoin’s price will double before it halves, but said it could hit $20,000 “pretty damn quickly.” Johnson began the interview referring to bitcoin, which surpassed the $11,000 mark on Wednesday, as “irrational exuberance.”


Crypto Is Here To Stay

Spencer acknowledged that cryptocurrencies are here to stay, but said bitcoin is a bubble.

In July, Spencer said he prefers Ripple and Ethereum to bitcoin and that he might introduce NEX trading platforms for cryptocurrencies. The problem with any bubble, he said, is that you don’t know if it’s going to double before it halves.

“At some point, it’s going to go a hell of a long way back down,” he said.

Bull markets typically hit a point where everyone is bullish, he said, and he doesn’t think bitcoin has reached this point. , SaAcknowledging that bitcoin has broad momentum, Spencer said there are signals that it is not the time to invest in it just because others are doing so.


Thumbs Up For Blockchain

Spencer, like many other bitcoin naysayers, is optimistic about blockchain’s future, noting that it has enormous implications that extend beyond the financial markets.

He said blockchain technology could be used to provide real-time settlement of securities transactions.

The fact that a technology has implications in many industries where it can improve efficiencies does not mean the bull market “can’t roll on a bit,” he said, hinting at bitcoin. He said there are signals that this is not a time to be “chasing everything the way everyone else is.”

Spencer also addressed the volatility of stocks, Brexit and other financial topics. NEX Group’s shares tumbled earlier in November after claiming market conditions were creating challenges for its post-trade services and electronic trading.

Source: https://www.cryptocoinsnews.com/bitcoin-price-will-hit-20000-before-tanking-financial-expert/

It should start tanking for once. I am however of believe that if we do indeed see this market tank somewhere around the $20,000 level, that we may end up holding $10,000 as base. People at this point have been spoiled with how the market has gone up, and for that reason have become ignorant when it comes to a looming correction. In their eyes the market will shoot up in one straight line, and from there reach $30-$40,000 like it's nothing. Nothing in the world goes only up in value without the needed corrections and consolidation phases, and Bitcoin is definitely not an exception. It's just that we need to wait for this blind panic buying to calm down for a good moment.

I wouldn't call the path to 20k an easy one. Bithumb is pushing the prices up like crazy but anything can change in an instant if a whale decides to crash the market. If you watch the orders closely you'll see that most people are holding now and enjoying the ride. There are not that many sell or buy orders and it takes very little money to move the price by another $1000. Unfortunately it also takes very little to go down as the buy orders are starting to pile up at least 10k below this ATH that we are at.

Bitcoin can easily touch $20,000 before anything goes wrong. I think it is way beyond imagination as last month the biggest goal for 2k17 was to achieve $10,000 and now that seems to be a past and we are heading towards new goal. Bitcoin has really gained over the couple of days making it one of the most volatile currency and at the same time most beneficial investment for the holders who even bought 30 days ago are really at high profit.

Sums up my thoughts over the last weeks, increasingly so over the past days. Bitcoin's price simply can't be stopped at the moment, and I'm beginning to doubt even the opening of futures markets will do much to dent it. Traders who've been waiting impatiently to short Bitcoin since $10k will be breathing a quiet sigh of relief in the face of BTC raging past $15k now.

The good news in all of this is, if indeed we see $20k before end of the year, whatever bubble is going to burst, whatever major correction will happen, whatever crash is coming, it'll have an extremely healthy cushion to fall on. Biting my lips, but none of this will change my mind about holding on to all of my keep coins.

So many people betting on an immense tumble. More cheap Bitcoin for me if that happens, then!

$ 20,000 is a good price. I can not stand to observe the growth rate of bitcoin. Every price increase of $ 1000 can result in a drop of $ 2,000 in the future. I constantly catch myself thinking that I don't want bitcoin to go up. But it seems to me that bitcoin is already so dispersed that no one will stop until it will fall.

$ 20,000 is a good price. I can not stand to observe the growth rate of bitcoin. Every price increase of $ 1000 can result in a drop of $ 2,000 in the future. I constantly catch myself thinking that I don't want bitcoin to go up. But it seems to me that bitcoin is already so dispersed that no one will stop until it will fall.