What Developments Can Put Bitcoin Upwards Again?

Bezobraznike

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Quote from: davinchi on October 04, 2019, 11:41:29 AM

I think the halving will make bitcoin a lot better in price soon. We are talking about 1800 bitcoins printed every single day going down to 900 bitcoins, that means in a year that is 328500 less bitcoins, that is literally over 300k bitcoins less than right now. Which is why there will be less bitcoins sold everyday out of thin air and the price will go up.

I am not saying it will go into affect right after the halving, it may take some time but after a while miners will not have any old coins left and will have to start to sell the new ones and they will have less of those. It is gonna take some time but it will have a huge upwards movement thanks to it, we just need to be patient, all these drops now make no difference to me because I believe in bitcoin on the longer term.

Davinchi I agree with your words, and your calculation is accurate. After halving we will see lower supply that should
lead to higher prices, not immediately, but in some time. How high the price can rise depends from demand, will it stay the
same or will be higher then now? That lead us to second reason that can put Bitcoin in upward trend, demand! We have many
more months before halving, and Bakkt is released, The first block trade of Bakkt Bitcoin Futures has been executed couple
days ago. Many things are happening, that can lead to rise of demand in next months, with halving that should be what
Bitcoin needs to take off.

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I think the halving will make bitcoin a lot better in price soon. We are talking about 1800 bitcoins printed every single day going down to 900 bitcoins, that means in a year that is 328500 less bitcoins, that is literally over 300k bitcoins less than right now. Which is why there will be less bitcoins sold everyday out of thin air and the price will go up.

I am not saying it will go into affect right after the halving, it may take some time but after a while miners will not have any old coins left and will have to start to sell the new ones and they will have less of those. It is gonna take some time but it will have a huge upwards movement thanks to it, we just need to be patient, all these drops now make no difference to me because I believe in bitcoin on the longer term.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

There is nothing necessary to inspire the common people to make their entry into buying of bitcoin. Till date in a short term of around ten years we have reached such a large user base. The user community have reached just through the word of mouth spreading, not through any form of promotion or advertising. As the market supply is limited, the demand will keep increasing.

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I think having a cheaper and faster option would make wonders once again, bitcoin went up in price back in December 2017 and transactions suddenly became like 6 hours long with 20 bucks or something which was horrible, if we ever want to go back up to those places we need a solution for these things in order to not have them once again.

Aside from that I think we just need to find a way to separate the futures and the real prices, long futures and short futures all affected the bitcoin world way too much, maybe longs are not that bad because it requires a lot of capital to do something good there, however short futures basically just gave the rich folks power to drop bitcoin price whenever they want and make a ton of money, that is not gonna help us in the long run.

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Quote from: mk4 on September 30, 2019, 04:27:14 AM

Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

People will realize the importance of it, when they're going to need it. If you're in a country that's currently economically fine, it's very easy to ignore bitcoin. For the Venezuelans and Zimbabweans though? Chances are, you wouldn't even need to discuss the technicals of bitcoin for them to be interested in it. All they need to know that it's unconfiscatable, decentralized, easily tradable and sendable, and that it's deflationary. Those characteristics itself would be attractive enough for them to hold/earn bitcoin because the country they're in is economically broken.

Yeah that's what humans do, basically people will buy and use it when they see bitcoin as their needs. bitcoin needs to be a "need" if they want become a demand. In essence, bitcoin must be the same as fiat, accepted everywhere, legalized and become a legal payment. I'm sure bitcoin will be needed everywhere, and the use and development of bitcoin will definitely increase.

inanilujimi

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Quote from: Sahyadri on September 30, 2019, 08:17:07 AM

Development! I doubt anything needs to be done in terms of development.

The halving next year will definitely bring a surge in price if history repeats itself. Halving is a big event in Bitcoin's ecosystem. More natural growth and new investors can bring an organic price surge.

the two are not going to be the same in 2017, and in my opinion the factor that led to the 2017 surge was investor confidence in the ICO.
if there had been no further fraud there would have been a significant spike in cryptocurrencies.

magneto

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I honestly don't think that there needs to be that much actual development anyways.

Markets have matured, which is the primary reason for this pullback in my opinion. It's simply to wash out the unsustainable growth of the months past, quite normal of corrections in BTC. It's not like it's something that we'd never seen before.

Also, institutional investors are going nowhere, they're here to stay. LN developments haven't been that positive recently, but once it does correct itself, it could become the catalyst for the next bull run.

The main point here is that cycles within the BTC market is still the most significant factor in determining price right now. Fundamentals have always been there regardless of bullish/bearishness.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

Currently, mainstream media views bitcoin as dangerous and only displays its negative effects. This leads to most people around the world being influenced and incorrectly educated about bitcoin as a whole and therefore results in a decreased demand for crypto in general. Additionally, governments dislike bitcoin and regulate it to the ground, adding to its negative view by society. I believe that if we begin to see more positive news articles about bitcoin as well as the upcoming halving, there should be an increase in demand for bitcoin, especially with the current price sitting around $8200, which would then lead to an increase in value of Bitcoin as the supply decreases and demand increases.

barota

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although it is not time for acceptance or activate , i still think etf will make bitcoin in high value more than current value this last can be shown in the price and And the extent of use among people in the world more than now
There are also several other projects that could benefit Bitcoin in the future

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

Bitcoin development and fundamentals are always going upwards. Bitcoin transaction number and energy spent to mine and number active wallets usually stops growing just for a few months and then grow again for few years. There was no backwards in Bitcoin. Only backward was price. But that is how market works. When is to much hype price goes to high and have to go down again.

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Quote from: BitcoinHunt3r on September 30, 2019, 11:38:44 PM

Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

I think more adoption and a lot of countries accept it. Maybe with that, demand of bitcoin can be increased and it can really affected on bitcoin price itself. Because i think nothing else that can help bitcoin rise, if bitcoin can be used in a lot of aspect without any problem, it can be very good and make price increased easily.

More adoption will come if there's a significant factor that can give bitcoins a positive output but as per these moment nothing actually can brought up the phase since bitcoin still link on scam activities, Maybe if there's a adoption of big companies then maybe little by little we can see an increase of users and hope this adoption could lift out the ban on countries who forbidden there citizens to use it. But for now the only thing I see to lift the price up is the halving.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

I think more adoption and a lot of countries accept it. Maybe with that, demand of bitcoin can be increased and it can really affected on bitcoin price itself. Because i think nothing else that can help bitcoin rise, if bitcoin can be used in a lot of aspect without any problem, it can be very good and make price increased easily.

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Quote from: The Sceptical Chymist on September 30, 2019, 11:57:32 AM

I certainly don't think bitcoin is outdated, but if I was going to use crypto to actually buy something, I'd much rather use some other coin--BCH or even something silly like doge. Lots of coins have lower network fees and faster transaction times. They just don't have the avid community that bitcoin enjoys and certainly not the value. My impression has always been that the hardcore bitcoiners tend to have blinders on when it comes to things like that.

Same thoughts! Some other coins are getting too much hate(though I don't blame them most of the time), but some coins like LTC and BCH are actually quite useful for transacting because of the low fees and fast speed(because not much people use them in the first place compared to BTC). With that said, there's NO WAY I'm leaving my funds for more than a day in some other coin/token rather than BTC.

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Quote from: BitHodler on September 30, 2019, 05:41:29 PM

I'm however of believe that the technicals need to improve first. Bitcoin is being judged by the smart money based on what the charts show, and not so much its fundamental roadmap.

Another thing I'm still keeping in mind is that we might be due for a brutal shakeout. It actually surprised me with how soft the market has been in the last couple of months. Calmth before the storm maybe?

Bitcoin is prone towards high volume V-bottoms. We haven't seen it yet this time, but when it happens you'll know. The chart may look ugly now, and we might need to tag the 62% fib or maybe last year's triangle levels in the $6000s first, but don't underestimate the honey badger. It's like a rocket once the bottom is in.

People keep making comparisons to the triangle in 2018, but to me this correction is much more like summer 2017 when we dipped from $3000 to $1800.

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Maybe that we can see something happen before the block halving takes place, because there might still be new investors believing that a pump will happen, and when enough of them think so and buy Bitcoin, it happens.

I'm however of believe that the technicals need to improve first. Bitcoin is being judged by the smart money based on what the charts show, and not so much its fundamental roadmap.

Another thing I'm still keeping in mind is that we might be due for a brutal shakeout. It actually surprised me with how soft the market has been in the last couple of months. Calmth before the storm maybe?

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

We don’t need to inspire people to Buy bitcoin just to increase the demands,what we need to do is inspire them to study and research about not just Bitcoin but all legit altcoins as well because all these currencies are what the worlds need in future and so that all of them needs to learn what’s this all about and the advantage of crypto over fiats.
I have encouraged almost all the people surrounds me years back and the outcome is a little good because only few of them entered crypto investing so now I realized what I’ve done is not enough and I need to push more,if all of us will do the same for not long time I am sure the investors will become more larger and bigger

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Quote from: Yaunfitda on September 30, 2019, 02:47:26 PM

Still boils down to the block halving. For now that is the only catalyst that I see that will really push the price. We don't need to inspire people to buy bitcoin. Sooner or later they will find how bitcoin is, the much touted and best speculative asset that we have right now.

Maybe we can look at LN though, if it can be adopted very quick then it could contribute to the price increase. However, it is still very slow process and it may take some time.

Yep That's what made investors madly buying BTC in 2017. There was an update about improving its privacy, I don't know if this can serve as catalyst that will pump its price but I think a lot will like it despite exchanges delisting privacy coins. We are talking BTC here so most of the time, its rare 21M supply matters already. The news that are to look up to would be from the outside its development such as adoption and perhaps the long awaited but not really exciting anymore - ETF Grin

Yaunfitda

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Still boils down to the block halving. For now that is the only catalyst that I see that will really push the price. We don't need to inspire people to buy bitcoin. Sooner or later they will find how bitcoin is, the much touted and best speculative asset that we have right now.

Maybe we can look at LN though, if it can be adopted very quick then it could contribute to the price increase. However, it is still very slow process and it may take some time.

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We don't have to inspire people to encourage them to buy bitcoin and make the demand higher. It doesn't go like that, the interested ones will see the true growth of bitcoin and that will encourage them to start buying it.

Those developments were already there and will keep on developing. It will just take time to see the positive results. Just because you see that the market isn't favoring on the price that you like doesn't mean that there's no development at all.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend.

there's good news all around. a few examples:
-the lightning network just hit 10k nodes for the first time.
-"the first crypto-derivatives-based yield fund on the market" just launched with custody provided by fidelity.
-asian institutional investors are showing increasing interest in digital assets and crypto hedge funds.
-bitfinex won a small victory against the NYAG. an appeals court ruled they didn't need to comply with a previous order to turn over documents.

but since the market crashed, everyone focuses on bad news because they are trying to rationalize why the price dropped. we don't need good news to turn the market around. what we need is for people to stop selling. Tongue

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Quote from: mk4 on September 30, 2019, 09:44:29 AM

Quote from: milewilda on September 30, 2019, 08:56:08 AM

We wont see any development further more with BTC but at least we do see that its developers does still continue to support it.

Seriously?

Lol, and that member has apparently been around here since 2015. Typical sig spammer nonsense, could be a bought account as well (though I've not investigated it).

Quote from: mk4 on September 30, 2019, 09:44:29 AM

If you think BTC is outdated, you really need to read more.

I certainly don't think bitcoin is outdated, but if I was going to use crypto to actually buy something, I'd much rather use some other coin--BCH or even something silly like doge. Lots of coins have lower network fees and faster transaction times. They just don't have the avid community that bitcoin enjoys and certainly not the value. My impression has always been that the hardcore bitcoiners tend to have blinders on when it comes to things like that.

The only thing that affects bitcoin's price is news, rumors, and overall sentiment. It isn't like a stock, where there's an underlying business that can be analyzed. There aren't a lot of moving parts; there's no dividend; there's no CEO getting fired or piss-poor Q3 earnings report. It's all supply and demand--and supply is growing at a predictable rate and is finite anyway. So there's really only demand. When investors fall in love with bitcoin, it'll go up. When they get frustrated with it, it'll go down. Not rocket science.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again.

Good news can't stop bear markets. Bad news can't stop bull markets either. So don't worry about the news. It won't change the direction of the market. All we can really do is wait until sellers are exhausted. It might take lower prices to do that but eventually this weekly downtrend will run its course and the ball will be back in the bulls' court.

In fact, last night's double bottom off $7,700 looks like the start of at least a relief rally.

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I think lightning network should be given more attention.
We are talking about a method that would make bitcoin faster than it is right now, but we are failing at segwit adoption let alone lightning network.

If we can get to that eventually that would mean people could send money to exchanges much faster for a lot cheaper and they would be able to withdraw much faster and much cheaper as well, that is why I really want lightning network to happen. If that doesn't get attention we will be left with something that takes hours to transact and cost a lot for cheaper amounts, sending 1 dollar to someone via bitcoin should still be quite easy, without that we will be just another payment option that costs a ton but with it we will be the easiest payment option out there.

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Quote from: mk4 on September 30, 2019, 09:44:29 AM

Quote from: milewilda on September 30, 2019, 08:56:08 AM

We wont see any development further more with BTC but at least we do see that its developers does still continue to support it.

Seriously?

Quote from: milewilda on September 30, 2019, 08:56:08 AM

Take a look on how many forked coins we do had out of BTC? They are somewhat much better than into its parent coin but still
the support it do had doesnt still change which means people do recognize the origin of these coins.We cant avoid the fact that it is somewhat
outdated compared to those or even to alts but its doing pretty well after all these 10 years passed.

They are not better. The only notable BTC fork out there, is BCH. BCH is pretty much just faster because almost no one is using it, and because it's pretty much speed in exchange for a lot less decentralization and security. If you think BTC is outdated, you really need to read more.

Nah im reading up and LN just recently hit up that 10k nodes but still we are on further development.Im not a fan of BCH though no matter how fast it is.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

Bitcoin is fine and I think there is no further development needed as of now. Let's wait for the next halving and we know people inspire on having easy profit and invest in the short term. Because they did know Bitcoin at all that it needs for long term investment. When Bitcoin will raise up there are many investors invested, but when it drops they are afraid. Bitcoin now needs massive adoption and more exposure all over the world and I think that's what we need.

However, let's hope that big whales were helping us to pump the market again not just always dumping in the market. In that case, Bitcoin will have a good dominance in the market.

mk4

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Quote from: milewilda on September 30, 2019, 08:56:08 AM

We wont see any development further more with BTC but at least we do see that its developers does still continue to support it.

Seriously?

Quote from: milewilda on September 30, 2019, 08:56:08 AM

Take a look on how many forked coins we do had out of BTC? They are somewhat much better than into its parent coin but still
the support it do had doesnt still change which means people do recognize the origin of these coins.We cant avoid the fact that it is somewhat
outdated compared to those or even to alts but its doing pretty well after all these 10 years passed.

They are not better. The only notable BTC fork out there, is BCH. BCH is pretty much just faster because almost no one is using it, and because it's pretty much speed in exchange for a lot less decentralization and security. If you think BTC is outdated, you really need to read more.

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Quote from: Sahyadri on September 30, 2019, 08:17:07 AM

Development! I doubt anything needs to be done in terms of development.

The halving next year will definitely bring a surge in price if history repeats itself. Halving is a big event in Bitcoin's ecosystem. More natural growth and new investors can bring an organic price surge.

We wont see any development further more with BTC but at least we do see that its developers does still continue to support it.
Take a look on how many forked coins we do had out of BTC? They are somewhat much better than into its parent coin but still
the support it do had doesnt still change which means people do recognize the origin of these coins.We cant avoid the fact that it is somewhat
outdated compared to those or even to alts but its doing pretty well after all these 10 years passed.

Sahyadri

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Development! I doubt anything needs to be done in terms of development.

The halving next year will definitely bring a surge in price if history repeats itself. Halving is a big event in Bitcoin's ecosystem. More natural growth and new investors can bring an organic price surge.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

We never inspire the peoples, because Bitcoin is always inspired in entire world. But those are holding the coin only responsible for current dump, If we sell continuously it will going to backward. Nowadays everyone expecting profit but current dump is confused in many investors so they will buy again automatically it will going to moon. I hope some Big investors is enter in the coin it will move rapidly.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

Many people speculates that there will be a pump coming these year but I cannot see any supporting facts that can support the the claims but if you look back on year 2017 then you can see the statistics that the halving brought a huge effect on bitcoins price and the whole ecosystem so maybe on next halving we can see a strong upper trend and maybe those slowly pumps can lure people to hold back and that could help the price to go up.

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Quote from: joelsamuya on September 30, 2019, 04:17:19 AM

And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

People will realize the importance of it, when they're going to need it. If you're in a country that's currently economically fine, it's very easy to ignore bitcoin. For the Venezuelans and Zimbabweans though? Chances are, you wouldn't even need to discuss the technicals of bitcoin for them to be interested in it. All they need to know that it's unconfiscatable, decentralized, easily tradable and sendable, and that it's deflationary. Those characteristics itself would be attractive enough for them to hold/earn bitcoin because the country they're in is economically broken.

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While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?

Topic: What Developments Can Put Bitcoin Upwards Again? (Read 403 times)