Topic: When do you expect Bitcoin to hit $20 000? - page 2. (Read 634 times)

To be fair, it is very likely the downtrend has indeed finished. All signs point to it being finished and Bitcoin currently being in the beginning of its consolidation period in which it starts its turnaround. Look for the slow uptrend to begin before the end of the year. 2019 will be the slow uptrend back to $20k, 2020 will be the next boom.

I have some gripes with your post.

First of all, as you say, it took a lot of time to recover from MtGox. There is no event like MtGox this time, so why would you say it would take as long? If anything that shows it will take less time.
Also it took three years to hit $1000 again. Peak in 2013 was early December, Jan 1 2017 it hit $1000 again, I think it took until beginning of March to actually beat the previous ATH so at most you could say 3 years and 3 months. And since there was no MtGox to recover from this time it's more likely it'll take around 2 years instead of 3 years this time. Another reason why it will take less time this time around is there is soooooo much more interest in Bitcoin now from sectors of the economy who had never even heard of it in 2017 and are still trying to figure out the right time to get in (note: it's now!).

So 2 years is a better estimate based on all the known factors, rather than 4 years. Basically late 2019 or early 2020 leading into the halving year we should expect it to pass $20k and then the hype and FOMO machine will start all over again but this time Wall St will be piling in both retail and institutional investors.
Last bull market went up 100x from $200 to $20k, I could see the next one over the next 2+ years going up 20x from the $6k bottom to $120k possibly. And $20k will just be a stepping stone sometime in the next 12-18 months.

It won't happen this year, nor 2019.

I think nothing before summer '20. This downtrend has not finished yet, then we need some consolidation and slowly uptrend to get levels $10k -> $13k -> $15k... etc.

pure speculation

2020-2022


It took a lot of time to recover from MtGox.

It took about 4 years to recover from gox.

The peak was at 2017.8 so about 2018
So if we follow the same road 2018+4 2022.


The reason why it may happen faster is because this halving is going to be more significant.

It takes us from inflation that about matches the dollar to inflation that is lower than that. So bitcoin is truly starting to become scarce.

All indicators point to Bitcoin being on the verge of a turnaround. Volatility has bottomed, as the price has settled just above the bottom of ~$6000 that the market has been establishing all year long, after months of bouncing around between the bottom and lower highs. I expect October and November to be the turnaround period so that by the end of the year we'll solidly be at the start of the next bull run. I expect most of 2019 will be steady growth, like 2016 before things started going crazy in Spring of 2017. So I think it'll hit $20k around the end of 2019. Within a few months of it passing $20k (the ATH) that is when it'll probably really start booming again and I could see something around $100k at the peak of the next boom in 2020.

So, late 2019.

I personally pessimistic about how long it will hit the top since this year seems to be the worst.

In my opinion, this year will not be going to hit that $20k again, why? because a lot of big investors already lose their trust to bitcoin because of scammers, because a lot of scammers last year use bitcoin that is why bitcoin price make ATH's last year because of multiple big investors put their money in and we all don't know that it is just a strategy of those scammers, after they already get profited scammers withdraw or encash all their profit and just also get all the investments of those multiple investors, so a lot of investors already lose their trust with bitcoin.

The actual thing is technical and fundamental analysis of the market. These analyses will tell you the right position of the coming future. Without proper analysis, I think it is not possible for anybody to predict the future price. I can only say that it will take long time but one day it will definitely reach to $20k. Hope that 2019 will be better for bitcoin but is not guaranteed.

somewhere tomorrow.... be ready

To provide a positive and encouraging thought here, I would like that bitcoin price to hit $20K next month in October we can really witness the bull run to come and see our dreamed price since January. This was a long term struggle with a dedication to fulfill, because most of the dreams were hanged over now and people were really sacrificing their time over it and waited bitcoin to be a better asset that's worth it for.

What I hope for this year is that bitcoin can reach 20k, but I don't really expect it because it seems difficult with the current market turmoil. No one can be sure and cannot be ascertained that the 20k price will be realized in the near term.

Well, that depends on how near the future you are talking about is like and for what it is worth, no one can really tell what becomes of bitcoin even in the next few seconds, so, the best answer to always give to situations like this is that at its own time, bitcoin would hit $20,000 and surpass it in the long run, as that is one thing I believe would happen eventually at some point as long as development and adoption keeps increasing.

The value may rise at the end of the year, but does not mean it would be able to have enough power to go test the previous ATH. It is, I am sure bitcoin may still want to try out the bottom over again and then see how it is possible to break it lower but there could be some sideways movement or some upward movement before then and that in its own should be something to expect, but not like an exact price should be expected as no one can certainly know.

Why are you all so obsessed with price of 20000$? Don't live in past, that was at the end of the last year but currently we have different situation on the market and at the moment it's not very likely that this year Bitcoin will reach 20000$.
But instead of waiting for your "magic" price get focused on current situation and what could you get best to use all possible opportunities and make profit.

Yes, there is that possibility that bitcoin would rise at the end of the year just like what happen last year. Bitcoin always surprises us when it comes to its price increase. We know that when there is a hype, an increase of 2x or 3x is achievable in just a week but I hope that bitcoin would have an organic growth and not just a temporary hype because when that happens, the drop is fatal. If there is a regular small fluctuation but the trend is up then it would be better.

many predict that the value of bitcoin will rise at the end of this year, and that makes me sure that the value of bitcoin is always rising every year, it could happen in the first quarter of next year

Yeah I agree with you, there are no chances for bitcoin to jump to $20k in the near future. Now there are no huge bumps in the price and the reason is that people are not so interested as they were in the last year. Due to low investment cap and low demand the price will not grow fast and $20k is a big price for bitcoin. Due to the current situation of the market it is clear that it will take long time to hit this level.

Exactly the price of bitcoin increases each year and in September 2017 the bitcoin price reaches 3500$ and now the bitcoin price is 6700$ higher than that of 2017. So target 20000$ is really easy if the bull market started and it will quickly create a new record

Honestly no one can predict the status of the market these days. Sometimes pumps and dump it's quite unpredictable, yes there is lot of hope that the value of Bitcoin will hit again atleast till 15k. Lets believe in this.

my hope bitcoin does not rise unnaturally like the end of 2017 because it will cause altcoin and bitcoin itself is difficult to stabilize, 2 years have become bad I don't want to repeat next year

I expect bitcoin to hit $20k level again, maybe in the 2nd quarter of 2019.
We have experience dumps this year, and maybe that is already enough for us to gain momentum to go higher next year. Hopefully more investors will come, even if the news is not in favor with cryptocurrency. There is still a chance for bitcoin to hit $10k this year, let's keep our hope with us.