Bitcoin To Soon Reach $1700 - page 7.

Herbert2020

legendary

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Quote from: iamTom123 on May 02, 2017, 10:23:23 PM

Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value.

there never was an end to bitcoin price rise! these prices we keep quoting and be happy about are ridiculously low for bitcoin. it should be worth $10,000 at least.

Quote

Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.

I am wondering what are the contributing factors for this continuing rally? Please share your ideas for the enlightenment and guidance of some readers (including me).

if this rise is indeed because of ETF then it will continue rising up until the day SEC makes the decision (if anyone knows when it is please tell me). and if they approve it, then price will rocket to the moon, even possible to break $2000 but another rejection means another big correction back to possibly $1200 level.

pinkflower

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Quote from: iamTom123 on May 02, 2017, 10:23:23 PM

Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value. Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.

I am wondering what are the contributing factors for this continuing rally? Please share your ideas for the enlightenment and guidance of some readers (including me).

Do you have any analysis to back up your statement? Please post any chart to show us what youre thinking and some fundamental analysis would be very helpful too. Sharing should go both ways.

HabBear

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Be careful when you read or hear "some are predicting $$$".

The only definite reason for the run up is because there are more buyers than sellers right now. That's it.

Obviously we want to know more than that, but the challenge with Bitcoin is that it's truly a global market, there's no corresponding fundamentals (like a stock investment), it doesn't have deep media coverage, and given the nature of mining it's a target for price manipulation.

We can speculate all day about what it could be that's driving this current price run, and as the days go on and if the price were to continue to increase we could have multiple factors that influence the price!

Maybe it's just attributed to the growth of the idea of bitcoin. What do you think it could be?

iamTom123

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Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value. Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.

I am wondering what are the contributing factors for this continuing rally? Please share your ideas for the enlightenment and guidance of some readers (including me).

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