Topic: Bitcoin Price Prediction – $24,000 BTC/USD before Christmas 2019 - page 4. (Read 833 times)
August 06, 2019, 02:13:13 AM
very good prediction. bitcoin price increases today are very supportive for very high prices before Christmas. That can happen when supported by FOMO, or very accurate information that can happen in 2020. For now, I believe that the price of bitcoin will be very high at the end of this year, so I am currently focused on gathering it.
August 06, 2019, 01:27:48 AM
I would call it a good prediction as it matches my prediction for this year.
I always believe from the start of bitcoin's recovery this year that we will have a new ATH this year, for sure over $20K but i don't know where it will stop by the end of this year. With the recent uptrend of BTC, it awakens my excitement and I believe not only mind but to all people who are bullish with bitcoin.
I always believe from the start of bitcoin's recovery this year that we will have a new ATH this year, for sure over $20K but i don't know where it will stop by the end of this year. With the recent uptrend of BTC, it awakens my excitement and I believe not only mind but to all people who are bullish with bitcoin.
August 05, 2019, 01:19:24 PM
It would really suck if this ends up being another lower high, which is a scenario I personally haven't discarded yet.
No reason to discard it until we break above $13,200. My opinion is that we'll still be trading within the $9K-$13K range for several more weeks.
Another positive aspect is that people are more short than long, which may offer a helping hand in form of a short squeeze to break through resistance levels easier.
What data are you looking at? Both Bitfinex and Bitmex are heavily long. Bitfinex longs outnumber shorts 3:1, and on the Bitmex perpetual swap longs are paying 0.0583% interest with high open interest.
https://www.bitmex.com/app/contract/XBTUSD
https://tensorcharts.com/u/bitmexstats
https://blockchainwhispers.com/bitmex-position-calculator/
We've already been squeezing shorts hard with a >30% rally here so I'm starting to expect a squeeze in the other direction now that longs have built up so much.
August 05, 2019, 08:40:06 AM
I share similar opinions as members above, but I always wonder how many people actually invested in Bitcoin in December 2017 when price was close to $20 000. Some of them probably hold and wait, but the majority is sold at the first sign of cessation of further growth, maybe even with some loss.
Regarding of new ATH in this year, in my opinion this should not happen just because such things happens after halving, but the events from the past few months may suggest that some things are changing, and that Bitcoin will not follow its usual history patterns.
Accordingly to that $24 000 would not be a big surprise, but I doubt price could stay there for a long time. Based on last correction from $14 000 to $9000, it would be realistic to expect $5000 - $10 000 in loss of value.
Regarding of new ATH in this year, in my opinion this should not happen just because such things happens after halving, but the events from the past few months may suggest that some things are changing, and that Bitcoin will not follow its usual history patterns.
Accordingly to that $24 000 would not be a big surprise, but I doubt price could stay there for a long time. Based on last correction from $14 000 to $9000, it would be realistic to expect $5000 - $10 000 in loss of value.
August 05, 2019, 08:10:23 AM
I however think we need a bit longer to actually break the $20k all time high. I can see sellers line up unloading whatever it is they bought way lower, or they were still holding heavy bags from 2017/2018.
Same thoughts. I think a good number of people who bought close to the top in December 2017 are planning in on selling somewhere close to $20,000 to hopefully just breakeven from their initial buy-in. I think $24,000 is pretty realistic though, so there's a good possibility.
August 05, 2019, 05:36:39 AM
Daily chart looks very bullish so lets hope we can have a bullish close to follow it up. It would really suck if this ends up being another lower high, which is a scenario I personally haven't discarded yet.
Another positive aspect is that people are more short than long, which may offer a helping hand in form of a short squeeze to break through resistance levels easier. Bulls right now are definitely the dominant force.
I however think we need a bit longer to actually break the $20k all time high. I can see sellers line up unloading whatever it is they bought way lower, or they were still holding heavy bags from 2017/2018.
Another positive aspect is that people are more short than long, which may offer a helping hand in form of a short squeeze to break through resistance levels easier. Bulls right now are definitely the dominant force.
I however think we need a bit longer to actually break the $20k all time high. I can see sellers line up unloading whatever it is they bought way lower, or they were still holding heavy bags from 2017/2018.
August 05, 2019, 05:21:14 AM
Excerpt from original gamblerock post:
Continue Reading the entire details of the prediction at GambleRock: Bitcoin Price Prediction - $24,000 BTC/USD before Christmas 2019
Quote
Bitcoin price has been an yet another unbelievable tear in 2019, similar to the major bull market run it saw in 2017, rising from only ~$800 to start the year to an all time high of ~$19,600 in December 2017 before crashing in 2018 eventually reaching low of ~$3,150 in January 2019.
I’ve been betting on Bitcoin on both the long and short sides since 2017. There have been a lot of hard knock lessons learned along the way. Unfortunately, I was shorting it in 2017 (one year early) so what should have been an amazing year of BTC/USD price appreciation, I experienced liquidations for leveraged margin positions. What was even worse is that I was trading on Kraken at that time. They we’re constantly going offline every time there was heavy buying volume, making it impossible for their customers to buy and sell Bitcoin at premium valuations during heavy market volume and volatility.
I made a lot of spot on predictions in the price of Bitcoin during the first half of 2017. Then I thought it was overvalued and needed to return to test the $2,850 major resistance level of early 2017. It actually tested $2,950 once after it hit $5,000. It had a second retest of $3,000 and then it took off. I was so fixated on it going to retest the exact price of $2,850 that I overlooked the notion that buying demand could be too strong for it to reach that exact level. Then again in January 2019, Bitcoin once again retested $3,000. It found solid support and has been on a bull run ever since rising nearly 400% this year at current levels approaching $12,000.
I’ve been betting on Bitcoin on both the long and short sides since 2017. There have been a lot of hard knock lessons learned along the way. Unfortunately, I was shorting it in 2017 (one year early) so what should have been an amazing year of BTC/USD price appreciation, I experienced liquidations for leveraged margin positions. What was even worse is that I was trading on Kraken at that time. They we’re constantly going offline every time there was heavy buying volume, making it impossible for their customers to buy and sell Bitcoin at premium valuations during heavy market volume and volatility.
I made a lot of spot on predictions in the price of Bitcoin during the first half of 2017. Then I thought it was overvalued and needed to return to test the $2,850 major resistance level of early 2017. It actually tested $2,950 once after it hit $5,000. It had a second retest of $3,000 and then it took off. I was so fixated on it going to retest the exact price of $2,850 that I overlooked the notion that buying demand could be too strong for it to reach that exact level. Then again in January 2019, Bitcoin once again retested $3,000. It found solid support and has been on a bull run ever since rising nearly 400% this year at current levels approaching $12,000.
Continue Reading the entire details of the prediction at GambleRock: Bitcoin Price Prediction - $24,000 BTC/USD before Christmas 2019
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