Bitcoin is approaching its next move, and there is optimism about future price increases. Some concerns remain, including the situation of Mt. Gox and the ability of the Bitcoin economy to survive large price increases. Bitcoin price prediction to reach around $40K towards the end of this year, seems still realistic especially especially recently the price of bitcoin has again reached above $30k and the crypto market looks green again.
Bitcoin's current price range is still at $31K and below $31K and that means that Bitcoin is still very strong to increase more than that if no more major corrections occur in the next few months. I am quite optimistic that the price of $40K can reach the end of this year because of the reality now that Bitcoin is no longer so affected by bad news. Even so, worry and panic can occur even if it's only temporary because the optimism of many people is still far greater than the panic that appears suddenly.
The $40k goal isn't really that hard for bitcoin, but if you think bitcoin is no longer affected too much by bad news, that's not entirely true. The future is unpredictable and we cannot predict what will happen. Negative information can come to us anytime, we can be optimistic, but we should not be subjective. Based on the current situation, the bear season is not over yet if calculated according to the 4-year cycle, the world economy has not recovered, and the news around Mt.gox still haunts us...There is much more to be careful than optimistic that the negative news will stop hitting us.
I think that 40k is very difficult for bitcoin, because first it has to break a very strong resistance at 31-32k. After that there will still be a few levels of resistance left. I don't know what could influence this, but there should definitely be some very good news.
Are you referring to the short term, like this month or next month? If that's what you mean, $40k is actually pretty hard for bitcoin. But in the medium to long term, that is straightforward for bitcoin. What I'm talking about is medium and long term, I don't want to make short term predictions because the market is very unpredictable, so short term prediction is just for fun, it won't really happen. In the short term, I don't even believe bitcoin will break through $35k, let alone $40k.
It will be 40k in under 60 days.
Too much money is going into mining.
a 7% jump = 26.6 eh or 266,000 s19's that is about 339,000,000 in gear in last 2 weeks.
or 11000 coins worth.
Mining is very bullish on expansion at the moment.
Look at 2015 charts prior to 2016 ½ ing
July 2015 258 a coin
July 2016 676 a coin
a factor of 2.62
which means 81400 right at the ½ ing of 2024