We would be 1000+ if bitfinex didn't happen

carlfebz2

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Quote from: asriloni on September 13, 2016, 01:06:06 AM

Quote from: 23dzmaz on September 12, 2016, 08:13:47 AM

I think it won't affect the price of bitcoin even without bitfinex hacked, because when the bitfinex happened, yes the price is dropped but for the next 3-5 days the price come back to normal again.

i'm sure that if bitfinex didn't hacked the price could possibly rising even higher,do you know the reason behind the price recover? i'm sure it's because of another business that affect bitcoin,so if the price could rising even after bitfinex hacked then imagine how if bitfinex wasn't hacked? the result will be ofcourse different

You have a point though but still it wouldnt reach $1000+ even bitfinex didnt get hacked previously and its a normal thing that bitcoins price would increase because adoption rate is increasing too thats somehow affects the price to go up but still its impossible to reach $1k in a short period of time.

Money Maker Shaker

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we will get there soon.

the price is already on the rise again but there is some weak hands also scared and cashing out so it is a slow rise.

asriloni

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Quote from: 23dzmaz on September 12, 2016, 08:13:47 AM

I think it won't affect the price of bitcoin even without bitfinex hacked, because when the bitfinex happened, yes the price is dropped but for the next 3-5 days the price come back to normal again.

i'm sure that if bitfinex didn't hacked the price could possibly rising even higher,do you know the reason behind the price recover? i'm sure it's because of another business that affect bitcoin,so if the price could rising even after bitfinex hacked then imagine how if bitfinex wasn't hacked? the result will be ofcourse different

Yakamoto

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Quote from: reb0rn21 on September 12, 2016, 06:33:53 PM

Sure Bitfinex slowed BTC uprise, if hack have not happened I think we would be somewhere in 800-850$ range, the 1000$ also have a physical meaning, first traders would try to dump on 1000$ make a short, but if and when 1000+ became stable there is big chance next BTC price hype will start
As soon the news start to publish bitcoin stable price and record high we gona see next race to uptrend will it be 2000 - 2500$ i am sure of it, but when i don`t know, we need some 3+ months period of no bad news for sure

You know that saying that we'd be at $1,000+ if Bitfinex didn't happen is completely unfounded right? Even saying it'd be up in the $800s? Just because we saw a buy-in over the past few weeks doesn't mean it's new money flowing in and there's a chance the market would have just stayed at the low $600s.

You can't say that a price change would have happened if the market stayed where it was. Chances are nothing was going to change, or at least not by much. I don't know how it can be said it would have gone up ~$400.

reb0rn21

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Sure Bitfinex slowed BTC uprise, if hack have not happened I think we would be somewhere in 800-850$ range, the 1000$ also have a physical meaning, first traders would try to dump on 1000$ make a short, but if and when 1000+ became stable there is big chance next BTC price hype will start
As soon the news start to publish bitcoin stable price and record high we gona see next race to uptrend will it be 2000 - 2500$ i am sure of it, but when i don`t know, we need some 3+ months period of no bad news for sure

randy8777

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Quote from: Fatanut on September 12, 2016, 05:32:08 AM

Let's make a timeline:
800$ range, Bitfinex got hacked price goes to 560$ range, Bitcoin didn't move that much, Bitcoin moved to 620$ (60$ difference).

Removing the Bitfinex from the set of events will result into an 800$ range, no significant movement for a while, +60$, we will be at 860$. There are flaws in this logic but you get the gist -- it will not touch 1000$ even if Bitfinex didn't get hacked. With the 800$ range, whales might have even dumped out some of their coins which would result for an even lower range. Nevertheless, none of us can do anything about these events. All we can do is wait for the next major price increase for we are all just speculators right now.

the price tanked to $465 at the extreme bottom of the dump. it made the price go down more than $150 in a single day. that's a significant difference.

23dzmaz

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I think it won't affect the price of bitcoin even without bitfinex hacked, because when the bitfinex happened, yes the price is dropped but for the next 3-5 days the price come back to normal again.

Fatanut

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Let's make a timeline:
800$ range, Bitfinex got hacked price goes to 560$ range, Bitcoin didn't move that much, Bitcoin moved to 620$ (60$ difference).

Removing the Bitfinex from the set of events will result into an 800$ range, no significant movement for a while, +60$, we will be at 860$. There are flaws in this logic but you get the gist -- it will not touch 1000$ even if Bitfinex didn't get hacked. With the 800$ range, whales might have even dumped out some of their coins which would result for an even lower range. Nevertheless, none of us can do anything about these events. All we can do is wait for the next major price increase for we are all just speculators right now.

PsursV

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i do not think so. if the bitfinex issue did not happen even then bitcoin would not be trading above 1000$. i think it would be trading above 800$. but hope that bitcoin is going to trade above 1000 very soon.

richardsNY

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Quote from: DaddyMonsi on September 11, 2016, 12:58:57 PM

Before Bitfinex announced that there was a security breach Bitcoin price is merely touching $800 level. It may have reached $900 but $1,000 is to far for reality. There are other factors that made Bitcoin drops to $600 and even back to the $500 level.

Just before Bitfinex came with a public statement about them having lost like 120K coins, the price was hovering above the $650 level. Due to the speculation around the block halving the price nearly reached $800, but it was all due to the hype. The price was very much due for a dive to the South. The market needed a cool down period.

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Quote from: Hugroll on September 11, 2016, 07:48:24 AM

Quote from: BillyBobZorton on September 06, 2016, 12:26:38 PM

All the idiots that still don't own any bitcoin will keep going FOMO every time it goes up. They are pussies scared to get in and once it starts rising they get in quick.

We will be at 1000 next year granted.

if the bitfinex thing didnt happen, we would be higher than 600ish but i dont believe that we would be around 1000.that number is way to high for the numbers of bitcoin in circulation.my guess is we wold have been around 650-700.

nah it's not, the amount of bitcoin in circulation wouldn't prevent it from reaching $1000, but poor development team decisions are a much larger hurdle to overcome.

DaddyMonsi

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Before Bitfinex announced that there was a security breach Bitcoin price is merely touching $800 level. It may have reached $900 but $1,000 is to far for reality. There are other factors that made Bitcoin drops to $600 and even back to the $500 level.

digaran

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Nah don't be so optimistic dude that's not possible, maybe we could hit $700 if there was no hacking and dumping involved but $1000?

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Quote from: BillyBobZorton on September 06, 2016, 12:26:38 PM

All the idiots that still don't own any bitcoin will keep going FOMO every time it goes up. They are pussies scared to get in and once it starts rising they get in quick.

We will be at 1000 next year granted.

i think it was a possibility back then to reach the $1000 if the hack and the following panic sell didn't happen.

we were on the way to that price anyways when this big stop came along. although it was a good chance of buying cheap coins.

Hugroll

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Quote from: BillyBobZorton on September 06, 2016, 12:26:38 PM

All the idiots that still don't own any bitcoin will keep going FOMO every time it goes up. They are pussies scared to get in and once it starts rising they get in quick.

We will be at 1000 next year granted.

if the bitfinex thing didnt happen, we would be higher than 600ish but i dont believe that we would be around 1000.that number is way to high for the numbers of bitcoin in circulation.my guess is we wold have been around 650-700.

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Quote from: jakelyson on September 10, 2016, 08:34:54 PM

Quote from: Vinz24 on September 09, 2016, 04:07:44 AM

It's really hard to tell, $1000 is obviosly really high enough to reach in that amount of time. You maybe right but we are not sure of that. But better investment is long term investment.

YEah, even without the bitfinex hack happening, I do not think we will reach 1000$ price this soon. AFTER the hype of halving, the price is due to go down then work its way back up. It will go up to 1000$ level but maybe in a few more years, not this year.

Agree, reaching $1k price on this year would be impossible in my view since as we saw on the bitcoins price movement its a little bit slow and there are might possible some circumtances that may affect bitcoins price in upcoming months or years just like what happen on bitfinex.

jakelyson

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Quote from: Vinz24 on September 09, 2016, 04:07:44 AM

It's really hard to tell, $1000 is obviosly really high enough to reach in that amount of time. You maybe right but we are not sure of that. But better investment is long term investment.

YEah, even without the bitfinex hack happening, I do not think we will reach 1000$ price this soon. AFTER the hype of halving, the price is due to go down then work its way back up. It will go up to 1000$ level but maybe in a few more years, not this year.

hdbuck

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thing is, the moar the value, the moar the hacks. Roll Eyes

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Quote from: wachtwoord on September 09, 2016, 04:27:12 AM

Quote from: DebitMe on September 06, 2016, 12:41:09 PM

Don't get greedy and want a super quick increase in price. Lets take a long time and gradually move upwards at sustainable levels. That would do more good for bitcoins name than any hacking attempt.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

DebitMe you don't understand.

the current price for bitcoin is not sustainable, because what happens if 20 million people want to own $100 worth of bitcoin.

We'd run out of bitcoin.

Bitcoin price has to go up rapidly to allow new users to own any meaningful amount of bitcoin.

Adoption doesn't grow slowly.

Adoption grows exponentially, so price is also expected to rise exponentially.

That's also why scaling is so important. (and the devs are way too slow on realizing and implementing this).

mindrust

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Not 1000+ but i think we would be at 800+ if bitfinex didn't happen. Bitcoin was doing just fine before the bitfinex. It was building up slowly and it still does, but finex harmed that growth for a month or two.

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