Speculation will drive the btc ride further as always - page 4.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

Personally, I believe that bitcoin will go up, however, with the value you have given above, I disagree. The present value is assessed as the true value of Bitcoin. The bubble has burst, and there will be no other. Therefore, the value of Bitcoin will grow steadily. Take a look at the price of gold, it is stable. Next year, I think it will return to 12k dollars or more, but 40k dollars is impossible.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

So long as bitcoin is a free market not governed by strict trading laws and whatnot, you will constantly see volatility and other characteristics only unique to bitcoin as opposed to other trading markets. People will constantly try to take advantage of this for a nice profit margin and opportunities to make tons of money in just a short span of time. It will only go up from here as time goes by, that's for sure.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: ChrisPop on December 12, 2019, 11:08:59 AM

For now I look at Bitcoin more like at an store-of-value than a currency so most its value is derived from that, not because it has been adopted and the demand for making transactions is huge. IMHO we will convery to the mainstream currency phase once the market matures therefore it needs to reach a higher value because the supply is so small.

I somewhat agree with this. For me, Bitcoin is now also mainly the store of value. I hold some BTC and expect it to grow in price or at least not to fall. However, I take some of it and sell for fiat when I need money for food or something like that. That is, I would love to be able to use Bitcoin as money as well, I believe in it as in money. Unfortunately, I am not really able to do that, so I end up using fiat instead.
As for the op, unfortunately, it seems true that the main thing that drives the prices is speculation. It's not those who are holding it long-term or those using it as money that determines the price; it's traders seeking for a fast profit.

betty11

copper member

Activity: 448

Merit: 3

Speculation is part of the market. Some persons ochestrate FUD in the market in other to buy low while others create false positive news and will end up causing a bullish sentiment, they sell off and wait to buy the dip again. This will not continue forever, much bigger money is coming to the market.

target

legendary

Activity: 2282

Merit: 1041

$7k is quite a value. One will definitely want its price to depreciate as low as possible to buy at discounts. This proves itself that BTC is valuable base on intrinsic just like how the real currency works in the economy where we also speculate. I wouldn't say its just a store of value after all it solves centralization that scares people that central authorities can freeze their wealth.

minersday

hero member

Activity: 1484

Merit: 535

No offence at OP but currently speculation alone can't push bitcoin to such crazy prices again. We need more people using bitcoins to increase the demand of it so as to bring the prices up. Another thing that can also help increase the price of bitcoin is the halving of bitcoin block reward come May 2020. These are some of the factors that i think can bring real value to bitcoin in the nearest future.

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

For now I look at Bitcoin more like at an store-of-value than a currency so most its value is derived from that, not because it has been adopted and the demand for making transactions is huge. IMHO we will convery to the mainstream currency phase once the market matures therefore it needs to reach a higher value because the supply is so small.

ragavancoin

hero member

Activity: 1432

Merit: 500

Some people are always gives negative feelings for bitcoins holds and new comers to crypto, because utilizing current situation of crypto market and it will regularly happens in crypto market so do not painc and sell your bitcoins they are utilizing our weaknesses.

My thoughts about bitcoin price prediction as $40k surely it will be happen in coming years once bull market is active.

rijaljun

sr. member

Activity: 1274

Merit: 267

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

So, you agree that currently Bitcoin has no real use (in wide area) and what causes the price movement is mostly just speculation?

CodyAlfaridzi

hero member

Activity: 1708

Merit: 541

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

But data shows btc is being traded from localbitcoins and dark market widely.

Which data?

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

Sub $6K is way more likely than $40K in May 2020 Cheesy

You're too optimist. Even in the previous halving, the peak/new high wasn't made until a year or two after the halving happen. I'm not sure if BTC is going to make a new high after this halving though now that there are more money is already in crypto.

anoufal

newbie

Activity: 100

Merit: 0

It also seems to me that now someone is manipulating the price, such a change is not typical for bitcoin.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

Some says there is no use of btc and hence no demand of btc. So no one is buying.

Those people doesn't hold bitcoin or sold it earlier and can no longer purchase bitcoin at a very low rate. That's why instead of pushing the people that remains holding it, they want to mock and tell their negative views to discourage.

Quote from: malekbaba on December 12, 2019, 10:29:37 AM

Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

There are those buyers that are even waiting to the lower prices that you've given. Bitcoin is a speculative market so it's given that it will drive the next bull run. But for 2020, $40,000 is still high IMO.

malekbaba

legendary

Activity: 1526

Merit: 1026

SellDefi.com | Earn by selling files

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

Topic: Speculation will drive the btc ride further as always - page 4. (Read 761 times)