Topic: Bitcoin Price Prediction – $24,000 BTC/USD before Christmas 2019 (Read 833 times)
September 24, 2019, 10:24:52 AM
Every year end gives a big change in the price, and most of the time this gets carried over to the beginning months of the next year. This gets interrupted by the mid days of the year. This time I don't think such a growth reaching $24000 before Christmas, but I believe the growth gets carried forward and the price can be experienced by the falling year close to the days of halving. This can happen prior to halving or after the halving process.
September 23, 2019, 11:34:29 PM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
If it were like that, all people would have invested but not
You must stop excessive imagination
There is a chart reading analysis for that and if youre quite good with that, I dont see any event it will crash, the chart looks good and stable with its current level. Take note also, the opening of Bakkt this could bs a game changer if wall street peeps can amass bitcoin investors. 20k is a huge gap with its current price, but no one will know until that date will be the consequence or progress of market.
If that really happens then investors will invest their money in bitcoin but graphical analysis even though the situation is normal still cannot be benchmarked to the truth, we just wait until the end of the year what will happen.
It really looked like a big pump was building last month up then it flat lined. I'm starting to think maybe a big drop is coming instead. I'm glad I have not been trying to trade it. Trading BTC right now feels riskier than usual.
September 23, 2019, 11:32:00 PM
The price changes after one year because miners actually start to feel the pain of having half of what they use to make. Right now they are making so much money that eventually they will start to run out of extra money they have and they will want extra money, in order to make that extra money they will stop selling for cheap and that will cause the price to go up.
Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
I definitely do not believe in the price of Bitcoin more than $ 20,000. after the coin fell below 4000 dollars. I think that for a long time we will not see Bitcoin at $ 20,000.Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
As much I dont want to believe it too, but all of these analysis is just mere predictions, plus Bitcoin's price movements are very unpredictable. It could be pumped by the whales, but there were also a lot of investors whos waiting for the price to climb back to the ATH and sell everything hoping to harvest good returns. Therefore the price will eventually crawl back below $20k due to massive selling.
Now, we have to realize the importance of positive TA's because it will encourage more investors to buy more Bitcoin.
Well, the more time that goes by without it breaking out makes it look less likely to hit ATH this year... Its been stuck near 10k for a month. BTC / USD be breaking down now, who knows for sure?!
September 21, 2019, 03:42:43 AM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
If it were like that, all people would have invested but not
You must stop excessive imagination
There is a chart reading analysis for that and if youre quite good with that, I dont see any event it will crash, the chart looks good and stable with its current level. Take note also, the opening of Bakkt this could bs a game changer if wall street peeps can amass bitcoin investors. 20k is a huge gap with its current price, but no one will know until that date will be the consequence or progress of market.
If that really happens then investors will invest their money in bitcoin but graphical analysis even though the situation is normal still cannot be benchmarked to the truth, we just wait until the end of the year what will happen.
September 20, 2019, 10:41:27 PM
The price changes after one year because miners actually start to feel the pain of having half of what they use to make. Right now they are making so much money that eventually they will start to run out of extra money they have and they will want extra money, in order to make that extra money they will stop selling for cheap and that will cause the price to go up.
Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
I definitely do not believe in the price of Bitcoin more than $ 20,000. after the coin fell below 4000 dollars. I think that for a long time we will not see Bitcoin at $ 20,000.Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
As much I dont want to believe it too, but all of these analysis is just mere predictions, plus Bitcoin's price movements are very unpredictable. It could be pumped by the whales, but there were also a lot of investors whos waiting for the price to climb back to the ATH and sell everything hoping to harvest good returns. Therefore the price will eventually crawl back below $20k due to massive selling.
Now, we have to realize the importance of positive TA's because it will encourage more investors to buy more Bitcoin.
September 20, 2019, 10:00:18 PM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
If it were like that, all people would have invested but not
You must stop excessive imagination
There is a chart reading analysis for that and if youre quite good with that, I dont see any event it will crash, the chart looks good and stable with its current level. Take note also, the opening of Bakkt this could bs a game changer if wall street peeps can amass bitcoin investors. 20k is a huge gap with its current price, but no one will know until that date will be the consequence or progress of market.
If that really happens then investors will invest their money in bitcoin but graphical analysis even though the situation is normal still cannot be benchmarked to the truth, we just wait until the end of the year what will happen.
September 20, 2019, 02:59:09 PM
Yeah I have been here long enough to know that whenever bitcoin is actually making big moves the exchanges with bottleneck and make some profits from it, they are literally using peoples money that is on their wallets to make more money with it and take others money, they are literally risking nothing because at worst they would be able to give the withdrawals their money but keep the deposits and try to make more profits to survive the losses for a while, unless you are some tiny small company you will always have enough money to cover it.
Those bottlenecks are the moments exchanges turn into ponzi schemes but since they also profit usually only few of them get caught. Let's hope that we will see a huge increase in binance period and they will take care of it better than coinbase.
Those bottlenecks are the moments exchanges turn into ponzi schemes but since they also profit usually only few of them get caught. Let's hope that we will see a huge increase in binance period and they will take care of it better than coinbase.
September 16, 2019, 11:40:48 AM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
If it were like that, all people would have invested but not
You must stop excessive imagination
There is a chart reading analysis for that and if youre quite good with that, I dont see any event it will crash, the chart looks good and stable with its current level. Take note also, the opening of Bakkt this could bs a game changer if wall street peeps can amass bitcoin investors. 20k is a huge gap with its current price, but no one will know until that date will be the consequence or progress of market.
September 13, 2019, 12:01:14 PM
The price changes after one year because miners actually start to feel the pain of having half of what they use to make. Right now they are making so much money that eventually they will start to run out of extra money they have and they will want extra money, in order to make that extra money they will stop selling for cheap and that will cause the price to go up.
Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
Right now, they are making a ton of money and only cashing out a bit to pay for stuff, they are not cashing out all of their coins, which means they have a lot of money saved aside for days like these, they know eventually stuff like this will happen and difficulty will change and some big whales will stand whereas small time miners will lose a bunch which is why it is definitely not gonna go up right away.
September 13, 2019, 09:24:45 AM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
Well, I don't feel these are excessive fantasies when it was a logical fantasy because at first, the value of bitcoin this year is having a pretty good recovery, we can see that since the beginning of the recovery until now, bitcoin has not fallen to a very deep level, it can almost stand up immediately. A good trend is a good thing for jumping higher, in addition to this trend, we should understand that during big holidays, the price of bitcoin always has a strong increase, this year is probably no exception with such a favorable situation If it were like that, all people would have invested but not
You must stop excessive imagination
September 13, 2019, 08:29:28 AM
Honestly Prices will down under 7000 usd at latest this year 2019 Stock currencies are not just bullish
If it were like that, all people would have invested but not
You must stop excessive imagination
If it were like that, all people would have invested but not
You must stop excessive imagination
September 12, 2019, 10:39:08 AM
with regard to the halvening, when i looked at actual price data vs. the dates of the halvening - it looks like price appreciation actually happens about ~1 year AFTER the halvening occurs. We might not see gains until 2021. Not sure if anyone is seeing something different.
Not again, we are yet to recover from the hope of 2019 that is yet to be net, now you are even jumping from 2020 that many people had hoped for to 2021, but I am not sure that the effect of halving would take that long before it occurs. Halving is so much anticipate for, and the reason why it could bring a very fast result is because many people have been waiting for the having, and because of that, they would start investing in bitcoin, with the hope of halving doing something, and as they increase the value, fomo may come to play and then spark in the heart of most people who would just be investing. So I expect the coincidence to result to being interpreted as the effect of halving .
September 11, 2019, 07:03:29 PM
Also don't forget that back then exchanges took weeks to process verification requests, temporarily halted the signup feature, weren't able to keep their platforms up and running without problems, and so forth.
That will happen next time too, for sure. Coinbase having 100% uptime during a bubble? That's a pipe dream. These bottlenecks are unavoidable during exponential growth periods.
Seriously, some people act smart and say that they were sure the price would tank when reaching $20,000, but it could have gone to $30-$40,000 with some more momentum and properly functioning exchanges. It was an intense year in almost every aspect, nothing like the 2013 bull run.
Maybe, maybe not. Volume was (and always is) thin at the top so I have doubts that verification delays or laggy exchanges ultimately caused the bubble to pop. 2013 was really intense too. We had two runs (April and November) plus bigger percent gains overall.
September 11, 2019, 05:54:26 PM
There are also people saying that the price could hit 6 digits figure when we hit the bubble, it's possible if we are going to look at the past historical price of bitcoin. However, we can't control the price, many are already inside the market and it will continue to grow and we don't know if past patterns will continue in 2020-2021 or it will have a sudden shift.
Six digits isn't really that much. We have hit $20,000 with just a fraction of the fiat onramps that we have today. Also don't forget that back then exchanges took weeks to process verification requests, temporarily halted the signup feature, weren't able to keep their platforms up and running without problems, and so forth.
Today we have an ecosystem that's upgraded to handle all that traffic. Seriously, some people act smart and say that they were sure the price would tank when reaching $20,000, but it could have gone to $30-$40,000 with some more momentum and properly functioning exchanges. It was an intense year in almost every aspect, nothing like the 2013 bull run.
September 11, 2019, 01:21:54 PM
with regard to the halvening, when i looked at actual price data vs. the dates of the halvening - it looks like price appreciation actually happens about ~1 year AFTER the halvening occurs. We might not see gains until 2021. Not sure if anyone is seeing something different.
The price started to rise months after the block halving and then culminated in the 2017 bubble. So that's block halving year + 1. So it's possible that 2021 will be the bubble year who knows.There are also people saying that the price could hit 6 digits figure when we hit the bubble, it's possible if we are going to look at the past historical price of bitcoin. However, we can't control the price, many are already inside the market and it will continue to grow and we don't know if past patterns will continue in 2020-2021 or it will have a sudden shift.
There will be increased institutional investment this time. Huge players have seen the gains they can make with bitcoin & when the next parabolic rise starts they’ll panic & buy in. We’ll see increased mainstream adoption too, average joe’s will be desperately scrambling around to buy in.
I predict 6 figures around a year after the halving in mid 2020.
STRAP YOURSELVES IN GENTLEMEN, IT WILL BE THE RIDE OF A LIFETIME
September 11, 2019, 05:20:48 AM
with regard to the halvening, when i looked at actual price data vs. the dates of the halvening - it looks like price appreciation actually happens about ~1 year AFTER the halvening occurs. We might not see gains until 2021. Not sure if anyone is seeing something different.
The price started to rise months after the block halving and then culminated in the 2017 bubble. So that's block halving year + 1. So it's possible that 2021 will be the bubble year who knows.There are also people saying that the price could hit 6 digits figure when we hit the bubble, it's possible if we are going to look at the past historical price of bitcoin. However, we can't control the price, many are already inside the market and it will continue to grow and we don't know if past patterns will continue in 2020-2021 or it will have a sudden shift.
September 11, 2019, 12:37:14 AM
with regard to the halvening, when i looked at actual price data vs. the dates of the halvening - it looks like price appreciation actually happens about ~1 year AFTER the halvening occurs. We might not see gains until 2021. Not sure if anyone is seeing something different.
halving years have still always been bull market years. 2012 and 2016 both saw huge gains even if the parabolic bubble didn't occur until the following year.
there's something else to consider---when market patterns become too obvious, they stop working. if everyone thinks they have 2 more years to accumulate bitcoins, don't be surprised if the bubble takes off much sooner. maybe this time, the bubble starts before the halving.
September 10, 2019, 09:28:51 PM
with regard to the halvening, when i looked at actual price data vs. the dates of the halvening - it looks like price appreciation actually happens about ~1 year AFTER the halvening occurs. We might not see gains until 2021. Not sure if anyone is seeing something different.
September 10, 2019, 11:15:59 AM
The ones that are getting out right now are just going to usdt not to cash most of the time, I am not seeing any big movements in bitcoin going out of exchanges, you can check whale alert and it shows that there are not a lot of big moves going out of exchanges which means people who get out of bitcoin and the amount getting out of exchanges are not equal so I assume people just move to USDT for now. That means they are waiting for a better time to get into bitcoin, maybe they will get in after bitcoin goes under 9k because everyone has been expecting that for a long time now, maybe they are expecting a bull run to start without them so they can take advantage of it without the risks. Whatever the reason is, I still see this as an absolute win for us because people are still in the market.
September 09, 2019, 04:28:06 AM
There alot of people getting out at the moment.
Others are playing the volatility.
Once they are out and there is no volatility we will resume our track to the moon.
Others are playing the volatility.
Once they are out and there is no volatility we will resume our track to the moon.
September 09, 2019, 03:16:16 AM
at the moment it's so difficult to predict price movements. it could be said that at this time it was calculated at the end of the year, and prices had not even recovered. even the predictions that exist, and information that is spread even always see the lack of bitcoin. as of today, I see the price of bitcoin failing to penetrate the price of $ 11k, and come back down a few hundred dollars in a few hours. You can read the article below.
https://cointelegraph.com/news/bitcoin-fails-to-break-11-000-again-drops-400-in-one-hour
However, I still strongly believe that prices have not fully recovered, although many say that the price of bitcoin will return below the $ 10k price, I still believe that the increase will occur at the end of this year. whether it will pass the price of $ 15k or even be able to reach the price of $ 24k, I think the price of bitcoin will start to rise in the coming October.
https://cointelegraph.com/news/bitcoin-fails-to-break-11-000-again-drops-400-in-one-hour
However, I still strongly believe that prices have not fully recovered, although many say that the price of bitcoin will return below the $ 10k price, I still believe that the increase will occur at the end of this year. whether it will pass the price of $ 15k or even be able to reach the price of $ 24k, I think the price of bitcoin will start to rise in the coming October.
September 08, 2019, 11:17:40 PM
The prediction of Bitcoin value reaching $24,000 before December this year to is over estimated in my opinion, since Bitcoin is still battling on how to break $11,000 resistance for a long time now let alone reaching such amount in value come December.
Maybe yes, as the market still surviving to break from that value, if ever that it won't break that point this year, chance to move forward next year is also a good spark, we can't be sure but expectations still high from investors sides and with incoming halving there's always potentials to reach this amount and sooner it will be much higher bringing another level to be touch.
September 08, 2019, 05:37:38 PM
Its possible for it to go down when people have bills to pay, thats the cold hard reality of life. People are rich while there is money spare but every economy has a cycle to it of expansion and contraction. We can have a bearish autumn and that surely has some effect on Bitcoin even though its global and distributed not tied to FIAT exactly its still an asset in the range that forms the market.
We dont have to think of Bitcoin negatively for that to happen, its as natural as the tides is how I see it and I dont take the sea going out as if I will never see it again but all the same price can come down from here.
We dont have to think of Bitcoin negatively for that to happen, its as natural as the tides is how I see it and I dont take the sea going out as if I will never see it again but all the same price can come down from here.
Yes, some people need the money and they will sell BTC for fiat, some will receive bonus the end of the year (at least in my coutry there is extra money), and you are correct about the cycles
We are stable right now and all of us want a bull run, ATH, 20k USD again, 1 million dollars BTC, but we are almost in a crisis, we should be prepared for the best and the worse to
September 08, 2019, 04:20:53 PM
Its possible for it to go down when people have bills to pay, thats the cold hard reality of life. People are rich while there is money spare but every economy has a cycle to it of expansion and contraction. We can have a bearish autumn and that surely has some effect on Bitcoin even though its global and distributed not tied to FIAT exactly its still an asset in the range that forms the market.
We dont have to think of Bitcoin negatively for that to happen, its as natural as the tides is how I see it and I dont take the sea going out as if I will never see it again but all the same price can come down from here.
We dont have to think of Bitcoin negatively for that to happen, its as natural as the tides is how I see it and I dont take the sea going out as if I will never see it again but all the same price can come down from here.
September 08, 2019, 09:16:49 AM
The prediction of Bitcoin value reaching $24,000 before December this year to is over estimated in my opinion, since Bitcoin is still battling on how to break $11,000 resistance for a long time now let alone reaching such amount in value come December.
September 08, 2019, 08:11:36 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
This is very much possible. To support your argument, you know that bitcoin prices are mostly increased at the end of the year. We had the bull run and all time high of bitcoin prices at the mid of December 2017. This means that we can again see all time high in December this year. Also halving is to be done next year 2020, by December 2019 we may have the hype of halving creeping in.
September 08, 2019, 07:43:57 AM
we will surely see a decent rise before this year ends because it simply is impossible to have such a long sideways market for 6 months since it started months ago. and going down is simply impossible.
the only way to go is upwards. but the problem with this prediction here is that it is not considering the fact that $24k is above the previous ATH at $20k and as always breaking the previous ATH is going to be a lot more difficulty than any other previous resistances which means it will take a much longer time. my guess would be next year for this kind of bearkout not this year. and this year we will see prices between $16k and $19k.
the only way to go is upwards. but the problem with this prediction here is that it is not considering the fact that $24k is above the previous ATH at $20k and as always breaking the previous ATH is going to be a lot more difficulty than any other previous resistances which means it will take a much longer time. my guess would be next year for this kind of bearkout not this year. and this year we will see prices between $16k and $19k.
I don't think it's impossible to go down, it's possible and we have to be prepared and have a plan B in this situation
But I agree with you about ATH, it's hard to beat the previous ATH and we are talking for a long time about this 20k USD mark
September 08, 2019, 05:50:22 AM
we will surely see a decent rise before this year ends because it simply is impossible to have such a long sideways market for 6 months since it started months ago. and going down is simply impossible.
the only way to go is upwards. but the problem with this prediction here is that it is not considering the fact that $24k is above the previous ATH at $20k and as always breaking the previous ATH is going to be a lot more difficulty than any other previous resistances which means it will take a much longer time. my guess would be next year for this kind of bearkout not this year. and this year we will see prices between $16k and $19k.
the only way to go is upwards. but the problem with this prediction here is that it is not considering the fact that $24k is above the previous ATH at $20k and as always breaking the previous ATH is going to be a lot more difficulty than any other previous resistances which means it will take a much longer time. my guess would be next year for this kind of bearkout not this year. and this year we will see prices between $16k and $19k.
September 07, 2019, 09:02:53 PM
I'm still follow the latest update from Bakkt who will launch their service at 23 September 2019 and I saw some transaction who have made by some people who sent a lot of bitcoin yesterday and the speculation who spread was they intend to send their bitcoin into bakkt. Which is mean bitcoin will have a high value if the bakkt service will be launched. I think $24.000 is really reasonable to reach if this service succesfully be launched and don't need to wait until christimas day to reach $24.000.
September 07, 2019, 06:37:56 PM
I just think that the price would surely go up before this year ends.
But I am not hoping for too much like that but if it ever hits above $20K and set a new ATH let's just hope that this time it could maintain it's price up there and wouldn't go for another roller coaster ride.
I wouldn't let my hopes high either since the price is quite unstable each week or two but i never remove the possibility that it will happen before Christmas. As long as we see the $15,000 resistance being break then that would be the start of hype and skyrocketing of Bitcoin price. Anyway, Bitcoin halving may change the price too but i wonder if it would be beyond or less from what we are about to witness before Christmas. But I am not hoping for too much like that but if it ever hits above $20K and set a new ATH let's just hope that this time it could maintain it's price up there and wouldn't go for another roller coaster ride.
September 07, 2019, 04:22:55 PM
I just think that the price would surely go up before this year ends.
But I am not hoping for too much like that but if it ever hits above $20K and set a new ATH let's just hope that this time it could maintain it's price up there and wouldn't go for another roller coaster ride.
But I am not hoping for too much like that but if it ever hits above $20K and set a new ATH let's just hope that this time it could maintain it's price up there and wouldn't go for another roller coaster ride.
September 07, 2019, 03:30:28 PM
The answer is no on this subject, I'm going to formally and dramatically slam the book closed on this subject because the price itself tells me its weak and not capable. If we get some ground breaking change then I'm wrong and I really dont mind but right now this kind of idea is pie in the sky pipe dreams not based on what the market is telling us.
All the way back in June we had a peak of 13k and we sold off, thats fair people take profits and we all expect that. It fell to 4 digit lows and its been repeating ever since, today we stand at the lowest point in that measure and yet we dream as if it had somehow gained in momentum. Its done nothing to negative since then, just a repeat like a bouncing ball coming to a stop. It wont stop, it'll do something new sometime but so far nope.
All the way back in June we had a peak of 13k and we sold off, thats fair people take profits and we all expect that. It fell to 4 digit lows and its been repeating ever since, today we stand at the lowest point in that measure and yet we dream as if it had somehow gained in momentum. Its done nothing to negative since then, just a repeat like a bouncing ball coming to a stop. It wont stop, it'll do something new sometime but so far nope.
September 07, 2019, 03:01:17 PM
Well, Its a month later and actually down about $1,000. It's trying to break through 11K right now. If it does, I think a big move up could be coming soon.
maybe the bull run that were all waiting for has finally arrive. And $24k by christmas might be a little low , bitcoin might reach $30k or even higher , cant wait to see good happenings on bitcoin price starting nextweek.I am beginning to think that Bitcoin can easily hit 30k, but i fear when Bitcoin is at 20k again that people will dump it. Do you know how many people have invested in Bitcoin when the price was around 19k. They want to have their money back.
September 07, 2019, 01:49:24 PM
Possible.However i think we will not pass ATH before halving
So we will stay below 20K
Maybe even better because Central Banks are watching and better is keep price until final parabolic moves.That what is happening is same trade war and currency war.USA will does everything to maintain dollar power over the world
So we will stay below 20K
Maybe even better because Central Banks are watching and better is keep price until final parabolic moves.That what is happening is same trade war and currency war.USA will does everything to maintain dollar power over the world
September 07, 2019, 12:51:39 PM
Well, Its a month later and actually down about $1,000. It's trying to break through 11K right now. If it does, I think a big move up could be coming soon.
But what are your thoughts though? Are we going to break that mental barrier of $11k?It might take a few more weeks of chopping around and coiling inside the trading range first. Bears are still defending the weekly mode and descending down trend line, so it looks like there's still some supply to absorb at lower levels.
I'm confident $11K will be broken by early-mid October though. After that I think the June highs will be broken pretty quickly too.
September 07, 2019, 11:51:45 AM
Well, Its a month later and actually down about $1,000. It's trying to break through 11K right now. If it does, I think a big move up could be coming soon.
maybe the bull run that were all waiting for has finally arrive. And $24k by christmas might be a little low , bitcoin might reach $30k or even higher , cant wait to see good happenings on bitcoin price starting nextweek. September 07, 2019, 09:40:48 AM
It's a good text, a nice subject to speak and we all have to be optmistic, but we have to face the reality here
We are in a good trend, everyday we are hearing about good news, but the price is not growing at the same pace, we are already in September, and we stuck at 10k, this is not bad at all, but it's time to think about this 10 to 12k at the end of the year
We are in a good trend, everyday we are hearing about good news, but the price is not growing at the same pace, we are already in September, and we stuck at 10k, this is not bad at all, but it's time to think about this 10 to 12k at the end of the year
September 07, 2019, 09:07:23 AM
Well, Its a month later and actually down about $1,000. It's trying to break through 11K right now. If it does, I think a big move up could be coming soon.
But what are your thoughts though? Are we going to break that mental barrier of $11k? Is so, what factors would you think that the ecosystem needed.I mean we have a lot of positive news, like the Bakkt hype but still the price is just trading sideways in the last couple of days. To be able to break that resistance and still go up, we need some catalyst so that there will be more demand.
September 06, 2019, 10:13:02 AM
Well, Its a month later and actually down about $1,000. It's trying to break through 11K right now. If it does, I think a big move up could be coming soon.
August 15, 2019, 10:46:21 PM
I think in order for this to happen we would have to have a reason for bitcoin to go up. Right now, people are making a good enough amount of money from trading between certain levels and that is enough for them, others are happy that they are not making too much money but at least they are not losing too much neither, everybody goes home happy undamaged.
This is the reason it is really hard to change the price right now, it is doable with a certain amount of buy orders but right now that looks like a no deal since nobody is idiots enough to test out if that would work or not and nobody with that kind of money would be willing to lend it for such purposes. That is why we need a huge news that would change things up and shift money around so we can actually rally up that much.
This is the reason it is really hard to change the price right now, it is doable with a certain amount of buy orders but right now that looks like a no deal since nobody is idiots enough to test out if that would work or not and nobody with that kind of money would be willing to lend it for such purposes. That is why we need a huge news that would change things up and shift money around so we can actually rally up that much.
August 15, 2019, 12:42:13 PM
In the last 3 weeks I have seen a lot of price forecasts, and it is good to be optimistic about the price, this motivates us to buy bitcoin. But we need to moderate on price forecasts. This is August, the price can not exceed $14000, no offense but it seems to me that the price is struggling hard to stay above $10,000 and do not see big news to immediate create a big increase in price. So consider $24,000 for this year, Is a dream that I doubt will come true. In my opinion the maximum that we will reach in this year is $17000
August 15, 2019, 05:27:35 AM
We don't have that kind of news in 2019, so it is still a long way to go to be able to even touch $20k at the end of the year, in my opinion.
I rather see the price go up without news, which is what Bitcoin has always done in the past, than seeing the price go up in the runup to the CME market going live where investors and traders sell the news. You have nothing to sell on right now. The price can legit pump way higher than any price you consider realistic or super high already.
As always, people get hyped up when the price is going up non stop for months. We are all biased towards price appreciation because we hold so many of it. These selloffs help you wake up again and not underestimate the speculative side of the market that doesn't care about your holdings and the fundamentals.
I'm pretty sure that if we would have hit $9000 today as new yearly high, people would be celebrating and bring back their flashy memes.
August 15, 2019, 01:01:00 AM
The price of $24k 'before' December is more like being unrealistic.
For me it's realistic because based on the past bitcoin performance, it's possible. Look at the picture below, that's a graph from Oct 1 2017 to December 31, 2017 and BTC price just started at $4,000+ and ended and has its high at $19,000+, that is 475% increase in just less than 3 months.
[..snip..]
We don't have that kind of news in 2019, so it is still a long way to go to be able to even touch $20k at the end of the year, in my opinion.
August 14, 2019, 08:32:51 AM
The price of $24k 'before' December is more like being unrealistic.
For me it's realistic because based on the past bitcoin performance, it's possible. Look at the picture below, that's a graph from Oct 1 2017 to December 31, 2017 and BTC price just started at $4,000+ and ended and has its high at $19,000+, that is 475% increase in just less than 3 months.
August 13, 2019, 05:59:00 AM
The price of $24k 'before' December is more like being unrealistic.
The price may look too small and achievable but with the constant price fluctuations there will be alot of set backs.
We are not trying to compete with the year 2017 which hard a quick price pump. If we experience same thing like then, the market is likely to go into deep correction and price is likely to be lower than it did in 2018.
The highest we can see as this year closes is likely to be $15k.
I think to really be on a realistic level, that $15k is actually what is more feasible, but I have learnt not to really much on prediction any longer because really has a system only it understand when it comes value increase. I have still not forgotten how the value of bitcoin sky rocketed from 4k before April to reaching about $13800 just within 4 months without any of us ever expecting it to be so. The price may look too small and achievable but with the constant price fluctuations there will be alot of set backs.
We are not trying to compete with the year 2017 which hard a quick price pump. If we experience same thing like then, the market is likely to go into deep correction and price is likely to be lower than it did in 2018.
The highest we can see as this year closes is likely to be $15k.
I could also remember that we have had lots of prediction some few weeks back where people thought that bitcoin would have reached 8k by the end of August but we can see that there has been great performance beyond their expectation, so bitcoin is still likely to enter $24k before the end of the year, it all depends on that factor that is yet known, it could decide to arrive earlier to push the price forward or arrive next year.
August 12, 2019, 03:38:12 PM
The price of $24k 'before' December is more like being unrealistic.
The price may look too small and achievable but with the constant price fluctuations there will be alot of set backs.
We are not trying to compete with the year 2017 which hard a quick price pump. If we experience same thing like then, the market is likely to go into deep correction and price is likely to be lower than it did in 2018.
The highest we can see as this year closes is likely to be $15k.
The price may look too small and achievable but with the constant price fluctuations there will be alot of set backs.
We are not trying to compete with the year 2017 which hard a quick price pump. If we experience same thing like then, the market is likely to go into deep correction and price is likely to be lower than it did in 2018.
The highest we can see as this year closes is likely to be $15k.
August 12, 2019, 08:26:14 AM
The reading expert literally talks about how he failed to understand the way bitcoin moves and lost a lot of money because he thought bitcoin would eventually go back down whereas it went up and dude lost a lot of money.
Now, we are here talking about how it will be 24k because the same dude claims? I doubt so, I still think that over 15k is quite possible and eventually will happen because of the halving but 24k is too specific for me and above the all time high, I am not sure if it will test the all time high if you ask me the correct one would be something between 15-18k range and it will stay around that like right now, it will go up to 18 then fall to 15 and go up to 18 an.. and will keep doing that for a long time. That doesn't require too much money involved and could basically happen very quickly even right now whereas 24k would require a lot of new money coming into the market.
Now, we are here talking about how it will be 24k because the same dude claims? I doubt so, I still think that over 15k is quite possible and eventually will happen because of the halving but 24k is too specific for me and above the all time high, I am not sure if it will test the all time high if you ask me the correct one would be something between 15-18k range and it will stay around that like right now, it will go up to 18 then fall to 15 and go up to 18 an.. and will keep doing that for a long time. That doesn't require too much money involved and could basically happen very quickly even right now whereas 24k would require a lot of new money coming into the market.
August 11, 2019, 10:26:46 AM
I think 24k is still a bit to go, I mean surely we will reach there but not right now, it will take a bit more time. I think next summer we will be at 24k for sure. I can't predict the precise price because I have no idea what would happen and I have no idea what it could be, I am not a fortuneteller after all and if I was someone who would predict the market beforehand I would have been super wealthy already.
However, my understanding is that miners will lose a lot of money and they would try to sell their coins later after the price went up after the halving which would keep the price low for a while and after they run out of ammo the price will start to go up. Hence I am expecting first a big increase then a decrease then even a bigger increase afterwards but I could be totally wrong.
However, my understanding is that miners will lose a lot of money and they would try to sell their coins later after the price went up after the halving which would keep the price low for a while and after they run out of ammo the price will start to go up. Hence I am expecting first a big increase then a decrease then even a bigger increase afterwards but I could be totally wrong.
August 11, 2019, 09:23:09 AM
I am really torn between what I think at the upcoming price of Bitcoin because if you say $24,000 USD this coming December of 2019 I am thinking that is a short time to speculate such price for now and I am seeing the resistance that is why we are having a slight movement up, But if I am wrong with some resistance in the level of $12,000 USD a parabolic trend is another thing that may happen and would take aim to put us in the $100,000 USD on the upcoming 2020, if the price would seize another height, Well how I wish the Parabolic trend is real and can make the price in another level that is beyond expectation again, Because I think there are many investors and traders that will surely return in bitcoin.
August 11, 2019, 12:30:31 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 $20k all time high. I can see sellers line up unloading whatever it is they bought way lower, or they were still holding heavy bags from 2017/2018.
Bitcoin may reach 24000$ or even more but at the present it will not be able to do so. Also the marketcap needs to be double to be able to touch 24K.
Bitcoin halving hype plus the introduction of Bakkt platform will be enough fuel to pump bitcoin to this level.
August 10, 2019, 06:56:59 PM
These kind of predictions are just people jumping on the band wagon, the graph says we have left the uptrend so far. It could start another rise but I'd like some solid reasoning why many speculators arent just taking profits now.
Price is alot more genuine when you can see each step up and how many sell after profiting from the rise. We fall back, it settles out and time develops the situation like a cake until its solid enough for another rise. Thats the normal process.
That process puts us past 2019, we'll be onto another year before this rise comes through again strong enough to double the price. If the reasoning were there is a potential difference, a vacuum that has us moving to 20k quite easily because we fell too soon. Some kind of theory why this rise to 24k is coming so easily. Iam aware we already rose, I think that makes the double of this price harder to do right now unless there is an imbalance causing it.
The most likely suspect would be greater usage, some world event that relies on BTC to convey value over borders ? I could believe that but why not gold or many assets.
Iran for example has a giant harvest of Saffron, more valuable by weight then gold and greatly used in India so they could bid up the price of this as an asset as easily I think. BTC is special and unique but I doubt we get all the success needed at once.
Price is alot more genuine when you can see each step up and how many sell after profiting from the rise. We fall back, it settles out and time develops the situation like a cake until its solid enough for another rise. Thats the normal process.
That process puts us past 2019, we'll be onto another year before this rise comes through again strong enough to double the price. If the reasoning were there is a potential difference, a vacuum that has us moving to 20k quite easily because we fell too soon. Some kind of theory why this rise to 24k is coming so easily. Iam aware we already rose, I think that makes the double of this price harder to do right now unless there is an imbalance causing it.
The most likely suspect would be greater usage, some world event that relies on BTC to convey value over borders ? I could believe that but why not gold or many assets.
Iran for example has a giant harvest of Saffron, more valuable by weight then gold and greatly used in India so they could bid up the price of this as an asset as easily I think. BTC is special and unique but I doubt we get all the success needed at once.
August 10, 2019, 04:55:57 PM
There had been a lot of prediction about Bitcoin breaking 20k barrier at the end of the year but I think it is still early to tell. Just look at the recent prediction of Max Keiser, it seem it will be a failed prediction. I think Bitcoin must break this 15k barrier before even saying that it will hit $20k plus before Christmas. Sometimes I think, this kind of stuff is just for publicity and nothing else.
August 09, 2019, 04:41:33 PM
I'm new to the whole speculating thing, I've only recently began to follow a couple of tubers that legitimately just sit there and run through their take on the charts. The target here might be conservative compared to a lot of the "predictions" out there but I like keeping grounded. Looking at Christmas this year I think we could see a 24, 000 BTC. That's about 1/3 of the time remaining to the next halving, which I think is a window where we will probably still be seeing higher highs, before a pull back leading into the last few months before the halving. Mentioned above is that November into December are months that generally produce higher price points.
Kind of kicking myself for picking a poor time to begin diversifying a while back.
From the few that I legitimately new who bought in near the top, it's about 50/50. Some sold once it dropped about 30% as they were hoping to ride it to some instant profits. Most are still holding, as it was a long term buy they went in for.
Kind of kicking myself for picking a poor time to begin diversifying a while back.
From the few that I legitimately new who bought in near the top, it's about 50/50. Some sold once it dropped about 30% as they were hoping to ride it to some instant profits. Most are still holding, as it was a long term buy they went in for.
August 09, 2019, 01:50:11 PM
unfortunately at this point that is not something anybody can predict. because this market is known to be volatile like an explosive, all it takes is a little bit of excitement and a couple of major resistances to break then we can easily see the next big bull run begin.
we just got out of the recovery phase to come back to more realistic prices after the undervalued 2018 drop. and the momentum is great these days. if it keeps up, then in 4 months we can easily see $30k.
Feels like most people that we have been seeing speculating in this bitcoin market are more of gamblers that just predict any price without really analyzing it through the different tools that is available in the market for them to use to analyze their predictions. When we make some predictions, we have to ensure that we bring together a realistic data that would lead to affirming our prediction, and like you rightly said, bitcoin is too volatile that prediction sometimes does not just work. we just got out of the recovery phase to come back to more realistic prices after the undervalued 2018 drop. and the momentum is great these days. if it keeps up, then in 4 months we can easily see $30k.
For us to get to $24k by end of the year, we must have been in bull run but then because that value has already passed the last All-time high, and we ought to have been seeing signs now If there was going to be any bull for this year, so I am not so sure that such figure will be easily achieved this year.
August 08, 2019, 09:51:26 AM
unfortunately at this point that is not something anybody can predict. because this market is known to be volatile like an explosive, all it takes is a little bit of excitement and a couple of major resistances to break then we can easily see the next big bull run begin.
we just got out of the recovery phase to come back to more realistic prices after the undervalued 2018 drop. and the momentum is great these days. if it keeps up, then in 4 months we can easily see $30k.
we just got out of the recovery phase to come back to more realistic prices after the undervalued 2018 drop. and the momentum is great these days. if it keeps up, then in 4 months we can easily see $30k.
August 07, 2019, 06:04:19 PM
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.
I would certainly do that and will start to be more optimistic with my altcoins investment also.
Though I can't deny I bought some BTC during the peak but I still feel the relief even at the current price now as I was able to buy BTC at its dip as well, so even if it will not have to reach at $24,000 per btc, I can still be at profit once BTC's price is close to its ATH.
In addition, I'm confident at that time that it would be a different altcoin market compared to now, so selling BTC and altcoins at the same time would certainly make me profitable in overall.
August 07, 2019, 05:39:35 PM
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.
They said the same about the return to $1000. It passed without much of a squeak. Many who bought at that level will be long gone by now. Others will be hanging on for much higher. Very few will pull the exact same amount they put in and have wasted 2-3 years worrying.
Personally I don't think we'll see those sorts of figures until well into next year but I'm almost always wrong.
August 07, 2019, 05:29:51 PM
I'll convert my short to a long within two hours from now if we don't get a sudden crash. It will be the first actual daily close above the descending wick to wick peak resistance line. My gut feelings say we're still not out of the woods, but I'm following the charts and not my gut feelings, which is how it should be.
I would say that November/December historically have been great months to actually start taking out profits, regardless of the price. Bitcoin is a poor performer in Q1 of each year so there is a fantastic opportunity to stack up more satoshis, which is what I will be doing and so should others do.
I would say that November/December historically have been great months to actually start taking out profits, regardless of the price. Bitcoin is a poor performer in Q1 of each year so there is a fantastic opportunity to stack up more satoshis, which is what I will be doing and so should others do.
August 07, 2019, 04:04:51 PM
Bitcoin will cross $24,000 before end of this year and it is going to reward those that will be able to hold for long. For the fearful they are going to be kick out of the next bull run. Since the day before yesterday bitcoin has been trying to cross and remains above $12,000 but it always follow with huge dump and the weak hands keep selling off.
August 07, 2019, 11:37:31 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.
It is a good deal but how feasible would that be? Having studied the pattern of increase from the beginning of this bull run, it occurred to me that we have little people now falling for FOMO, and those little ones are not enough to sustain or continue to make the price increase.If it was for FOMO factor, from that period that bitcoin made a major breakout from the 1st o April is when fomo would really have landed us into a very peak price of bitcoin now, but people don’t respond that much to fomo values again, they would rather take their time to study the market carefully before investing, after all, when we advise people, we are the ones that usually advises them not to fall for FUD, panic sell and fomo, so why do you think Fomo would still be quite effective again?
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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