Topic: New Year's macro effects on Bitcoin (Read 151 times)

I do not believe that the new year was the cause of the fall in the price of bitcoin. It seems to me that the price of bitcoin is more affected by the high price of transactions and the speed of their confirmation. As an example you can look at the problems with nicehash. They used all balances were transferred to bitcoin. Now, because of the high value of the transactions they reviewed the translations of balances in altcoins. How many of these services! This can lead to a decline in demand for bitcoin.

Sometimes history repeats itself, and sometimes things are simpler than they seem. I believe these are both going to be great descriptive terms for the new year and bitcoin; I've said it before, but I'll reiterate, I have never seen so much news about bitcoin and seen so many everyday folks speaking about bitcoin and cryptocurrencies. They have very recently become a household name, and are increasing in popularity like never before. With popularity and the crazy upwards price we've always experienced wee are bound to get a lot more demand for bitcoin which means the price is going up in my opinion.

Obviously the price will be moving up and down throughout the year, but I do believe that it's going to keep up it's regular pattern of high volatility, but upwards overall. I think 2018 is going to be another mass-adoption year, possibly bigger than any we've seen prior because of the recent big investors, new platforms and means to invest/trade bitcoin. We're going to remain on thee same path we've been on since the beginning, although I do see the transaction fees becoming a bigger problem in 2018 until hopefully something is done about it in some capacity. In short, I see more of the same in the new, and that is nothing but a good thing. With the new year, there is always temporarily increased optimism and this may increase buy orders for bitcoin, or even the amount HODLers are HODLing, but overall everything points up. The market has been pretty relaxed since the new year, but everyone has to make it home from vacation before they start hitting the markets.

Bitcoin actually hasn't been dropping for the past 10 days. It's actually just suffered that major drop and since then has had micro runs with small rises and drops. We've been hovering in this 2000 dollar gap [12000-14000] for a good period of the past week. I agree that it's making the users restless because a good amount of them hopped on this train at around 10-14k and they're just afraid to lose whatever they made. Also, Bitcoin is hard to predict moreso because there's no physical backing to it. We can't research 10ks or company reports because it's purely decentralized.

I am actually neither bearish or bullish on bitcoin right now currently in the new year. I think it will have its time in a bull run but I think it will consolidate for a little while before making another run up.

There were few reasons for the bitcoin's price dip. First reason was the bitcoin network which performed very bad. Soo many transactions got queued up pushing the transaction fees to an insanely higher level. So people started investing in technologically superior coins like ripple and ETH pushing their price in all time higher regime.

Also in the festive season, people usually needs extra money to meet their festive expenses. A lot of people including me, cashed out a percentage of their holdings for the same reason. That is another reason for the bitcoin's price dip.

Now since we have entered the new year, I believe now investors will start investing in bitcoin because the price is floating at a very lower level currently. Investors will not be late to reap that benefit once they have some extra money to invest. So I believe, bitcoin will have a bull run in 2018.

Over the long term, there should be winners and losers in the crypto speculation game. As statistics mount and the divide separating success and failure in trading equalize, we might see decreased price volatility.

If trading volume in altcoins rises, they'll be less prone to pump and dump cycles as well, which should contribute towards a more stable crypto market.

I think the crazy volatility we're seeing is devaluing bitcoin and crypto, together. It took years for bitcoin to build a sterling reputation as a reliable store of long term value.

Traders and the finance sectors tendency to focus on short term gains, rather than long term value is diminishing the long term HODL bitcoin has been legendary for.

I hope so that the Lightning network will be officially implemented to bitcoin but still the off-chain protocol is under development which is the important thing to run the Network for faster transactions and lower fees, scaling issues kill bitcoin softly and slowly and it kinda sucks for people who often transact and receive payments through bitcoin every day, it will be the game changer for btc if the development and implementation is success.

it is based what will happen in 2018. if lightning network start and success bitcoin will go to the moon.
many exchange sites and government stop using bitcoin this will make price more stable because high fee and network.
so when lightning network or any other solution success bitcoin will bumping fast.

I think bitcoin always the best coin in this year. Maybe sometimes the price of bitcoin decrease, but no long time the price will be normal again. Welcome to new year for bitcoin and bitcoiners

I think bitcoin will grow bigger this year compared to the previous year, if at last desemeber bitcoin price has decreased significantly then it is only the price correction to reach higher price in this new year, we can see together growth of bitcoin price five years back, and it can serve as a powerful predictor of bitcoin prices over the next few years.

I wish it happens like how we all think but honestly speaking bitcoin price at the moment is quite concerning. I think this is the effect of the futures issued because it seems kinda institutionalization. The money is running into the alts at the moment while the bitcoin market cap is only 38% of the total market cap. I wish I may be wrong but I don't see any sign of identified progress in the month of January. It seems like the trend of alts going up will remain  because people want to gain more than 500% profit from crypto.

I think bitcoin will go bullish this new year. The most probable reason of its recent marginal downfall was that many holders sold their holdings recently for holidays which caused the decline in value of bitcoins whicg certainly will retain its value in coming days.

People will again think of buying bitcoins this new year and certainly its value will again rise up. Popularity have not been decreased at all because the value decline is also quite marginal which is not a very sharp decline. Its getting stabilised by now and soon will gain its own pickup, hopefully.

According to the opinions of many traders in a telegram group that I join them, they will give opinion bitcoin will go down in 2018 and will probably not be able to pass the $ 15,000 price.

It actually got to $14,000 that yesterday and did a retracement to $13,000. I see bitcoin giving out big profit to investors this year - 2018 , hitting $20,000 mark often and on, and also shielding it off as retracement.

However, price might not go far above $20,000 this year because investors have started looking for and using other altcoins like etheruem and litecoin for transactions due to high bitcoin fee and traffic.

 Bitcoin is running down since last 10+ days. This is making bitcoin users panic and restless. Such corrections are expected after sudden price rise in the middle of December. Bitcoin will continue to correct in coming days. Later on it will start rising. Predicting bit is quiet difficult due to bitcoins volatile nature. New year will make more chances of earning money for bitcoin investors. Bitcoin currency is now entering into a mainstream of economic activities. Its popularity and use has increased. This will help in future price rise. 

We've been through bearish at the very end of 2017 and I guess it's now the start of the opposite reaction that bitcoin's price is going to be on a positive movement and that can be through bullish.The price movement yesterday was really fast and now it's starting to become slow. I thought that will be the bounce back of bitcoin from $12,000 - $15,000 but it was so close.

Yesterday the price was under 13000 USD,now it`s 13920 USD and most likely it will go above 14K.
Around the new year,the blockchain was stuck with lots of transactions and things are getting back to normal now.Bitcoin won`t go to the moon that fast.It needs to recover last years peak price at around 19000 USD.
There are many factors that will push the price down,but i think it will go to the moon somewhere around 2019.

Bitcoin starts to increase but it just moves step by step, but I have the idea that bitcoin can come down again after it's gone a few more days so I think we can buy bitcoin right now and sell it in a few days.

Bitcoin will touch the sky this new year.Looking upon the rise in late december there will be a tremendous increase in price no doubt..

I think it will go on a bull run after this last retracement in late December, let's watch and see Bitcoin go to the moon.