Topic: Bitcoin Looks Unlikely To Cross $10,000 Again This Year - page 2. (Read 638 times)
is not excluded. Bitcoin is always gaining momentum at the end of the year. This is already apparent.
With the current price of bitcoin at $7000 plus, $10,000 is achievable before December this year. Though, everything still depend on the US SEC decision, if the decision go in favour we all want, i swear, Bitcoin will not only cross $10,000 but also go back to $17000, $18000 or $19000.
My expectation is to come to the levels that came last year this year. So you have to pass 20K. That does not seem to be the case anyway.
Don't say that, you never can tell, let's all be heads up and see how it goes, but I'm certain that it will go far b4 the end of this year.
That's right, this is all speculation. The bottom line is far easier to spot due to the above mentioned mining costs and the spots where price held last year. Also, we have the spots that are seen as the beginning of the exponential rise (around 5000USD), so in the long run the price will have to touch 10k. It will either touch 10k and then retrac, which would be a huge bullish sign, or it will first trade sideways hitting the lows once again and then start the rally. One thing is certain, 10k target will fall. Some people think thisyear, others that it will happen in spring 2019. I don't really care, I'm not planning to sell anyway.
Until the new year, maybe he will grow up but then fall back again as this trend is very noticeable in recent years.
Till the end of this year we will see the price moving above $12000+ as their will be lot of news which will drive the bitcoin to this high price in this year itself.
Don't say that, you never can tell, let's all be heads up and see how it goes, but I'm certain that it will go far b4 the end of this year.
Yes ... I also very much doubt that the price of bitcoin will rise so much this year. In the next I'm almost 100 percent sure that this should happen. However, in this ... it is almost impossible. There should be some very significant event for bitcoin which should give a very good news background. This will allow the price to rise ... then again the HYIP begins and the Lulis will start borrowing again and spend their last savings on crypto-currencies and, in particular, bitcoin.
July was a solid month for cryptocurrencies overall, with the price of Bitcoin reversing the steady declines seen over the previous two months to hover around $8,200 around the end of the month. This marked a strong recovery from the low of $5,755 seen in late June, but was still well below the all-time high of almost $20,000 last December, and also a good 18% lower than the ~$10,000 figure seen less than three months ago.
Notably, there was a recovery in the level of activity on the Bitcoin network over the month of July, with the average number of unique addresses and the average transaction volume per unique user improving from the lows seen in June. However, with both of these key metrics sliding lower over the first two weeks of August, the price of Bitcoin has slumped to below $6,500. Given the current weakness in Bitcoin trading activity, we have reduced our forecast for number of unique users as well as transaction volumes in our interactive Bitcoin Price Estimator. We now expect the Bitcoin price to settle around $9,500 by the end of the year for our base case scenario – down from our earlier estimate of $10,500. The graphic below captures our base case forecast for the monthly average price of Bitcoin this year based on our estimates for transaction volume and number of Bitcoin users, and also shows a possible price range for the cryptocurrency taking into account a relatively bullish as well as bearish outlook for the rest of the year.
TREFIS
Understanding What Drove The Price Fluctuations Over Recent Months
The global cryptocurrency industry has seen a flurry of new developments since December. Many of these developments had a negative impact on the growth prospects of cryptocurrencies, such as restrictions by banks on the use of credit cards to buy cryptocurrencies, and calls by financial regulators across the world for caution while investing in digital currencies (with some countries even banning their use). This sent cryptocurrencies sliding in value from the all-time highs seen in mid-December 2017, as demonstrated by the slump in Bitcoin’s price from almost $20,000 then to below $6,000 in early February.
However, Bitcoin prices saw a sharp recovery over April and early May, primarily because the traditional financial industry began warming up to cryptocurrencies. While Goldman Sachs became the first investment bank to start a cryptocurrency trading desk, IntercontinentalExchange (which owns the NYSE) reported its ongoing work on a new trading platform that will allow institutional investors to buy and hold cryptocurrencies. As this points to increased adoption of cryptocurrencies in the near term, the good news propelled Bitcoin prices higher.
MORE FROM FORBES
But Bitcoin prices slumped in late May when Mt. Gox dumped more than 8,200 Bitcoins on existing exchanges, and further in June when two South Korean cryptocurrency exchanges were hacked. In addition to having a negative impact on Bitcoin pricing, these events also dragged down Bitcoin trading activity, as evidenced by a notable reduction in the number of users on the Bitcoin network. The trend reversed in July, though, with renewed institutional interest in cryptocurrencies driving activity levels. This was driven by growing optimism around the SEC potentially approving a Bitcoin ETF.
TREFIS
The SEC’s approval would make Bitcoin a more accessible investment option for investors globally, and definitely presents a sizable upside for the cryptocurrency. However, little has been able to quell investor concerns about the security of cryptocurrency exchanges over recent months – something that we believe will continue to weigh on activity levels in the near future.
What Does This Mean For Bitcoin’s Price?
Like the price for anything, Bitcoin’s fundamental price depends primarily on demand and supply. Demand for Bitcoin is primarily driven by two factors: the number of active users, and how much they transact. On the supply side, the number of available Bitcoins is capped, and about 80% of the capped number is already mined. As such, it is sensible to focus on the demand, both in terms of users and transaction volumes. In our interactive Bitcoin Price Estimator, we forecast changes in the number of unique users as well as transaction volumes for each month over the rest of 2018 to arrive at our estimate for Bitcoin’s fundamental value.
As we detailed above, given the headwinds faced by both of these metrics over the month of August, we expect them to grow at a modest pace over coming months. As a result, we believe that the Bitcoin will very likely remain below $10,000 for the rest of the year.
This video shows how to leverage our bitcoin pricing dashboard. While the dashboard looks fairly basic, in back-testing – a method to see how well it could have predicted prices in the past – it was almost 94% accurate.
Like our charts? Explore example interactive dashboards and create your own
Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. Surprisingly, the founders of Trefis discovered ...
https://www.forbes.com/sites/greatspeculations/people/trefis/#7fcca4de4462
It is very difficult to predict the movements in the price of Bitcoin; however, chances are that it will not cross $10K as you said. But you know Bitcoin has never failed to surprise us or shock us. It has shown unexpected ups and downs many times. So due its high volatility we cannot say anything for sure. It might rise and cross 10 k mark and surprise everyone again. Notably, there was a recovery in the level of activity on the Bitcoin network over the month of July, with the average number of unique addresses and the average transaction volume per unique user improving from the lows seen in June. However, with both of these key metrics sliding lower over the first two weeks of August, the price of Bitcoin has slumped to below $6,500. Given the current weakness in Bitcoin trading activity, we have reduced our forecast for number of unique users as well as transaction volumes in our interactive Bitcoin Price Estimator. We now expect the Bitcoin price to settle around $9,500 by the end of the year for our base case scenario – down from our earlier estimate of $10,500. The graphic below captures our base case forecast for the monthly average price of Bitcoin this year based on our estimates for transaction volume and number of Bitcoin users, and also shows a possible price range for the cryptocurrency taking into account a relatively bullish as well as bearish outlook for the rest of the year.
TREFIS
Understanding What Drove The Price Fluctuations Over Recent Months
The global cryptocurrency industry has seen a flurry of new developments since December. Many of these developments had a negative impact on the growth prospects of cryptocurrencies, such as restrictions by banks on the use of credit cards to buy cryptocurrencies, and calls by financial regulators across the world for caution while investing in digital currencies (with some countries even banning their use). This sent cryptocurrencies sliding in value from the all-time highs seen in mid-December 2017, as demonstrated by the slump in Bitcoin’s price from almost $20,000 then to below $6,000 in early February.
However, Bitcoin prices saw a sharp recovery over April and early May, primarily because the traditional financial industry began warming up to cryptocurrencies. While Goldman Sachs became the first investment bank to start a cryptocurrency trading desk, IntercontinentalExchange (which owns the NYSE) reported its ongoing work on a new trading platform that will allow institutional investors to buy and hold cryptocurrencies. As this points to increased adoption of cryptocurrencies in the near term, the good news propelled Bitcoin prices higher.
MORE FROM FORBES
But Bitcoin prices slumped in late May when Mt. Gox dumped more than 8,200 Bitcoins on existing exchanges, and further in June when two South Korean cryptocurrency exchanges were hacked. In addition to having a negative impact on Bitcoin pricing, these events also dragged down Bitcoin trading activity, as evidenced by a notable reduction in the number of users on the Bitcoin network. The trend reversed in July, though, with renewed institutional interest in cryptocurrencies driving activity levels. This was driven by growing optimism around the SEC potentially approving a Bitcoin ETF.
TREFIS
The SEC’s approval would make Bitcoin a more accessible investment option for investors globally, and definitely presents a sizable upside for the cryptocurrency. However, little has been able to quell investor concerns about the security of cryptocurrency exchanges over recent months – something that we believe will continue to weigh on activity levels in the near future.
What Does This Mean For Bitcoin’s Price?
Like the price for anything, Bitcoin’s fundamental price depends primarily on demand and supply. Demand for Bitcoin is primarily driven by two factors: the number of active users, and how much they transact. On the supply side, the number of available Bitcoins is capped, and about 80% of the capped number is already mined. As such, it is sensible to focus on the demand, both in terms of users and transaction volumes. In our interactive Bitcoin Price Estimator, we forecast changes in the number of unique users as well as transaction volumes for each month over the rest of 2018 to arrive at our estimate for Bitcoin’s fundamental value.
As we detailed above, given the headwinds faced by both of these metrics over the month of August, we expect them to grow at a modest pace over coming months. As a result, we believe that the Bitcoin will very likely remain below $10,000 for the rest of the year.
This video shows how to leverage our bitcoin pricing dashboard. While the dashboard looks fairly basic, in back-testing – a method to see how well it could have predicted prices in the past – it was almost 94% accurate.
Like our charts? Explore example interactive dashboards and create your own
Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. Surprisingly, the founders of Trefis discovered ...
https://www.forbes.com/sites/greatspeculations/people/trefis/#7fcca4de4462
$10,000 is an achievable target for BTC in my opinion but not $25k . All those who say BTC can/will cross $20k by the end of the year are probably making statements in the thin air. According to me albeit $10k is a tough target I beleieve BTC can still accomplish the target. It has already crossed $7k which it has already crossed many times this year 
.I beleieve once September ends we might see a boost in BTC's price as history shows us that the price increases during the months of September - November.
.I beleieve once September ends we might see a boost in BTC's price as history shows us that the price increases during the months of September - November.
Prominent media statements will create FUD every now and then giving all panic statements these predictions aren't true of any extent bitcoin can any time cross 10 thousand dollars and even touch previous all-time high
A few weeks in bitcoins are like a year in the regular market, and you predict that bitcoins can't get back above 10.000 dollars within the next 4 months.
No ones can predict if bitcoins will go up or down by more than 30% the next 4 month. But I think we most likely will see bitcoins cross above the 10.000 levels in the coming months. It's just 3.000 dollars from this level, last year bitcoins went up with 15.000 dollars in less than 2 months.
No ones can predict if bitcoins will go up or down by more than 30% the next 4 month. But I think we most likely will see bitcoins cross above the 10.000 levels in the coming months. It's just 3.000 dollars from this level, last year bitcoins went up with 15.000 dollars in less than 2 months.
As for bitokin, if I did not really want his growth to heaven so that he would break the bar at 20k, unfortunately I consider it a fantastic price for him at the end of the year even in 10k. Despite the fact that Forex has added bitcoin to a currency pair.
As more and more towards the end of year, many investors often take a break and look back on profits earned in the past year. They convert to cash so that they can spend on daily transactions that money algorithm is not advantageous. Even with the popularity of blockchain technology and math algorithms, middle-aged people still prefer cash and internetbank money.
While it remain unlikely that bitcoin price would touch $10,000, I still believe its possible before the year end. The last quarter of year is expected to be a rallying point where people would want to invest with the option of making significant return at the end of the year in other to have a fun filled festivities. Aside from that looking at the current price, $10,000 is not far away to make it seems a miracle would be needed to achieve that feat with a gradual increase in activities of the market, its very much possible and even can be surpassed.
I actually think we will see bitcoin back to 20k by the end of this year. Wall streest investors and big firms are strating to invest in crypto so I expect the demand to go way up.
Presently August is lasting. There are still four months before the year winds up. So four months period is sufficient enough for the bitcoin or other crypto currency to cross the limit mentioned by you.. Not so difficult even.
Well, nothing can be said for sure because it's bitcoin you know! But, I really think the possibility is indeed low that the price will hit the 10k mark analyzing the current situation.
It is difficult to predict how the bitcoin will look like. But $10k is a good price for bitcoin this year. Though market can change at any time. Let’s see what happens with the last 4 months of this year.
Definitely it will reach more than 100 dollar, because it have lot of good project and this project also run very well. So I think end of the year it will be near about 12000 dollar.
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