Bitcoin bull push to 600k ? - page 3.

marcotheminer

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Quote from: lightningmelo on September 30, 2019, 06:06:31 AM

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

Remember a scenario of USD/EUR/GBP/etc devaluations. That could make 1 BTC worth over a million USD (and at the same time, market cap of gold will increase too). I see it before 2030, when basket of goods are priced in BTC or the leading crypto of the time.

Distraction

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According to your graph, Bitcoin will fly to 600k dollars in a very short time. I respect your thinking but this graph seems too optimistic. I agree that we can see a bull run again after accumulation period but I don't expect Bitcoin to reach 600k. It would be too surprising I think.

darkangel11

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It's impossible in 1 run especially at this market cap. It was easy enough at 1k USD or even 2k to go tenfold but the higher we get the weaker the pumps are going to be. They will still be big in terms of money flowing in because in the early days it could be 1 million dollars and the price skyrocketed. Now it will be 10 million but we won't pump 2x from the current price with only 10 million.

50k USD is not very hard to reach but 200k is a very big jump. 600 is impossible. It will take 2 or 3 bull markets to get there.

qiwoman2

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Quote from: NeuroticFish on September 30, 2019, 05:02:43 AM

Quote from: conex on September 30, 2019, 04:32:14 AM

Can the push reach the new highs like 600k?

Bitcoin has dropped lately. It has just started to recover. In such periods the ones preaching an even bigger drop (the FUDers) are the more vocal ones.
If Bitcoin will have a sustained growth for a while, the dreamers will kick in, telling about 500k, 1M and maybe even bigger numbers.

So right now your numbers are "a blasphemy" Cheesy

Imho yes, 600k is not an unrealistic number. The only problem I see is the timing, that could be wrong. And I think that I know why too: Libra may have no effect at all.

I am going to be realistic to be quite honest. I doubt we will ever see a 600k USD Bitcoin, well not in my lifetime anyway. The fact is people can make a crap ton of money shorting Bitcoin, so why would they even bother to try to pump it up? Only if there was a huge influx of people coming in to buy it in droves and holding it, would there be that kind of a chance, and even then the Powers that be could do everything in their power to manipulate the market and keep the price low. Look at the price of gold for example, it was held down for years and years. I think they will try to do their utmost to keep the price of Bitcoin low so that they can accumulate and own in the end most of it. This would technically make it less and less decentralised as bigger fish would own the majority of it like Rich people do with every asset class.

HatakeKakashi

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Bitcoin is a potential coin and for sure bull run will happen again to our king of coin but for the $600k it is very unrealistic.
The analysis is depends to the people of they want to believe or not because people have other analysis and my highest bull push for the bitcoin value is only $100,000 and even that is no guaranteed to reach because bitcoin still mysterious about what highest value it can be.

aysg76

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Quote from: lightningmelo on September 30, 2019, 06:06:31 AM

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

600K per coin really?
Yeah, that can happen in some million years!!!

Youghoor

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Quote

Bitcoin bull push to 600k ?

600k is definitely a wide dream looking at the bitcoin market. I don't really see Bitcoin attaining the price of $600k. The possible market value that Bitcoin can reach considering the entire crypto ecosystem will be between $50k to $100k. i think you should redo your analysis again. In as much that possibilities exist in the crypto space, this analysis is not very feasible.

Cityhunter123

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600k? I'd rather believe in the return of the dinosaurs

goto22

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Quote from: conex on September 30, 2019, 04:32:14 AM

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

Seems like wishful thinking. I expect BTC won't see those heights for years to come, provided that it ever does. I would like to see it, don't get me wrong, but this just seems pretty impossible.

Shenzou

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600k is a big number considering the point and the situation that bitcoin is at aright now, it is good to be optimistic and it is true that bitcoin has shown us and surprised us many times by reaching the once we thought impossible but we also have to be somewhat realistic, considering that next year we have the halving and the Libra coin might push the cryptocurrency industry to rise but i think that we might get close to 20k or 30k by the end of they next year, but only time can tell we just have to wait and see.

trumpman

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Quote from: conex on September 30, 2019, 04:32:14 AM

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

LOL? 600 k isn't happening any time soon, if ever. IMO, the only way to see prices like that is only if the U.S. dollar goes full bolivar in regards to inflation...

funchiestz

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Quote from: lightningmelo on September 30, 2019, 06:06:31 AM

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

I'm sure no one thought gold would come here to its present value from the first days it was found, and would leave a lot of FIAT money behind. I cannot say that it overtake the current value of Gold. But why wouldn't it really be possible?

lightningmelo

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It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

AniviaBtc

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It is obviously a technical analysis, because as you can see in the chart that the bitcoin price will push to 600k dollar. It's quite very hard, but in the near future nothing is impossible. Be optimistic when it comes to BTC, there's always a way on how it gonna push to 600k. We just need to wait for that to happen.

You should be knowledgeable in chart reading for you to have some thoughts on what are the possibilities but it's not the actual happenings in the market.

Just accept the fact that in terms of bitcoin it is not "what you see is what you get." Keep that in your mind. The chart only show the possibilities, everything started at the bottom.

MonsterV

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A pretty good analysis by utilizing history of the previous bitcoin charts. I myself also often use analysis like this when trading, but not always analysis is accurate, as far as I know, it depends on market conditions. Maybe this analysis will be in accordance with the picture if next year market conditions support to return, sometimes it's not appropriate.

So, I also hope that like what is listed in the title of this thread, but I choose to enjoy every reflection. The rest I invest in next few years.

quierx16

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Too good to be true, this is too far everyone would be happy if this happen of course but $600k expectation with the current price is impossible for me its already good if bitcoin reach a new ATH.

judeafante

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Quote from: bitzizzix on September 30, 2019, 05:15:56 AM

Bitcoin to reach 600 thousand is a fantastic amount and in my opinion it is not possible, what we see in the bitcoin market to reach a price of $ 20,000 or $ 25,000 is difficult and it is a price that is likely or predictable that will happen but it misses.
and bitcoin to reach the highest price will definitely happen but to reach 600 thousand I think that's impossible.

I share the same opinion, we should be more realistic on the current situation, $600 k is a way too high to discuss at this current point of time,
I'm looking at a chart and I really hate seeing the chart right now, Bitcoin price is down -3.65 and we are talking about $600k.
I think we should first focus on adoption and another all-time, $25k to $30 k is reasonable.

funchiestz

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There are too many estimates and analyzes about the Bitcoin price. However, most of them are done without any valid basis. When McAfee said Bitcoin was going to be $ 1 million, a lot of people called him crazy. He had his own motive.

There is an unpredictable issue in the estimates for the Bitcoin price. FOMO! When FOMO starts processing, many other issues can be ignored. Therefore, do not underestimate FOMO. If Bitcoin somehow starts to rise rapidly, there will be a large number of people following FOMO. 600K is a great target, but not impossible.

putukin

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Quote from: conex on September 30, 2019, 04:32:14 AM

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

This chart is one of the options for the outcome of Bitcoin in the future. Unfortunately, it’s impossible to say for sure. Also Libra is under too much regulation, the project has a chance not to be launched due to the pressure around it

Experia

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$600k is too far from what is the price today, and if you think that libra is the reason of this bull you are wrong, libra is still on the phase of making the project of the decade and it will be announce on the year 2020. And yet base on the article https://www.reuters.com/article/us-facebook-libra/libra-coin-group-in-talks-with-eu-regulators-executive-tells-reuters-idUSKBN1WC1DE it will be delayed due to regulatory concern.

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