Why Bitcoin Price May Take 700 Days To Rally Back To $20,000 - page 2.

Chairul Muttaqin

sr. member

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Merit: 250

Quote from: aalfadhala on November 10, 2018, 01:26:58 PM

The article examines some factors that have lead to the previous rally and see if we can compare and look for similar signs to help us identify the next jump.

Read: https://coinlu.com/bitcoin-price-rally/

Thoughts? Grin

Actually I hope bitcoin price is not rise this year. I hope I could buy more bitcoin in cheap price. This early phase of adoption bitcoin and some altcoin is not look so shining but people will realize that it is shine like diamond in the future. I also don't think that next jump can be identified because this market is being played now, market still unpredictable.

charlotte04

full member

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Quote from: aalfadhala on November 10, 2018, 01:26:58 PM

The article examines some factors that have lead to the previous rally and see if we can compare and look for similar signs to help us identify the next jump.

Read: https://coinlu.com/bitcoin-price-rally/

Thoughts? Grin

No matter how long it is but if we see that it is still going to be there then we will wait for it. It would take time but it will be there.

ralle14

legendary

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Shuffle.com

I'm confused where did the author got the numbers for the trading volume between 2014 - 2015. Looking at coinmarketcap's bitcoin chart in 2014 the trading volume already reached more than $72 million at one point ($100 million to be specific). I tried looking for charts that shows Bitcoin was at $100 during May of 2014 but unfortunately couldn't find one. The only thing that was worth going through that article is the video of Andreas Antonopoulos.

Imo it might take more than 700 days for Bitcoin to go back to $20,000 because there could be several investors who bought and still holding up to this date when Bitcoin suddenly peaked last year.

coin8coin8

member

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False Moon

The predictions in this article are supported by statistical data. Compared with other predictions, this prediction has certain possibilities. I personally tend to think that Bitcoin will restore its former ATH prices after 1-2 years, as well as some altcoins, of course, most altcoins may no longer be able to return to the previous ATH price.
Maybe this time is longer than 700 days, because $20,000 is a very large number compared to $700, and it takes longer.

Roidz92

full member

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Yeah, 700 days in this world, at the actual time, is too much time. Bitcoin, within 2 years will have an enormous volatility that could bring the price from 1000$ to 100000$, i don't doubt it. 2 years are so long in this world to predict something.

mu_enrico

copper member

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Slots Enthusiast & Expert

A historical analysis alone couldn't determine the future. This applies to all financial instruments including bitcoin. To predict the future, we should include a financial projection. This might be easier in the stocks analysis since the increase in the company's revenue usually not too extreme.

In bitcoin, it doesn't have such thing as PE ratio, so it's much more difficult to predict. Maybe the technological advancement and/or users adoption are the key factors to trigger the next bull run.

Kemarit

legendary

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Merit: 1353

The author failed to mention one important factor that resulted in bitcoin demand losing its grip back in the days, the Mt. Gox heist, this event really put a dent on the price and remember that time that exchanges command almost 70%-80% of the trades. So its obvious that after the said attack, people shun away and it took years for bitcoin to recover again. So 700 days is like 2 years, hmm, I have doubts that it will take us that long to see another all-time-high. We all know that one single news will turn this market into another bullish trend so we might see some positives in 2019 that can turn around this market again.

DennyPen

newbie

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Market cycles are getting longer, so you must also count the extra time that will be required for btc to hit that $20k mark again.

jseverson

hero member

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Merit: 759

So the reason why the author said it may take 700 days is because it took 700 days the last time? My thought is that it's incredible how they were able to make an article out of this when I was able to sum everything up in one sentence. Very few details are actually needed to get this across lmao.

But yeah, no matter how unreliable this is, precedents are all we have right now. We'll see if the market behaves the same way this time around.

aalfadhala

member

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Hey!

The article examines some factors that have lead to the previous rally and see if we can compare and look for similar signs to help us identify the next jump.

Read: https://coinlu.com/bitcoin-price-rally/

Thoughts? Grin

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