I can't see what 30 new ICO project each day should have to do with the Bitcoin price goes up or down.
The numbers of ICO projects will much likely keep growing in numbers in the years to come.
The price of bitcoins are driving by a numbers of factors and the use case of bitcoins, like using bitcoins to buy into new project, so the Bitcoin price should go up if more people buy bitcoins to buy into ICO projects.
Topic: Why Bitcoin will not hit 20000 soon? - page 9. (Read 2021 times)
This is not the reason bitcoin is not appreciating at a very fast rate because the time Bitcoin appreciated to that amount last year we were still having many coins already in the market and also existing coin in the coinmarketcap
As we can see in the market, there's still a lot of loss, because there's still some faults even though it's endorsed worldwide, some countries banned, i think price of bitcoin will maybe increase or decrease before the year ends, just like last year. 😃
Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.
I think your argument is flawed. ICO growth has nothing to do with this bearish trend. Obviously, bitcoin reaches its peaked and is a bubble waiting to be burst which happened eventually. That's why we witnessed this bearish season and it will take some time (probably next year) to see bitcoin consolidate and make another run. It has nothing to do with ICO projects being born everyday. The bearish trend is inevitable.
About of 80% of ICOs are scam. The money that could have entered Bitcoin be wasted. It's true that you have to buy bitcoin or ethereum for participation in ICOs, but the money never came back in bitcoin or ethereum.
When people trade their bag of altcoins, it is usually in return for bitcoin or ethereum, so the cash still cycles back to bitcoins or eth even for scam projects.The important thing is to have those cash as fresh cas from outside the crypto market Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.
Many countries prohibit bitcoin after its ration to 20,000 dollars, and that price so fell. If the whales invent something, the price will again fly to the moon
Yes, I agree with you. Most of these ICOs are useless projects that are trying to grab money from investors who are trying to become rich quickly! Though cryptcurrencies are based on decentralization but when it comes to ICOs there should be some centralized authority like the SEC to vet these projects. If this happens Bitcoin will have a bright future!
There are actually some positive aspects to having a lot of new crypto projects, they help increase awareness of cryptos in general and thus drive adoption.
About of 80% of ICOs are scam. The money that could have entered Bitcoin be wasted. It's true that you have to buy bitcoin or ethereum for participation in ICOs, but the money never came back in bitcoin or ethereum.
On the contrary, there was panic last year but price eventually went up to such height and the same increase will repeat itself. I think we are rather going to have a bullish.
The price of bitcoin is cannot be predicted because bitcoin is volatile, volatility is normal, it means that its price is unpredictable to know if its going to increase or decrease. The price of bitcoin will maybe increase or decrease before the year ends, just like last year. Lets just hope that bitcoin will increase and reach its peak just like last year or even higher than that.
I do not really think the addition of new coins/ICOs to the market will significantly affect the price of bitcoin.If anything, bitcon dominance has increased significantly even with them coming to the market
Yes, I agree with you. Most of these ICOs are useless projects that are trying to grab money from investors who are trying to become rich quickly! Though cryptcurrencies are based on decentralization but when it comes to ICOs there should be some centralized authority like the SEC to vet these projects. If this happens Bitcoin will have a bright future!
Well I might not agree with you completely, BTC has a huge presence in the market right now which clearly shows that people wants to hold more BTC compared to other coins, ICOs don't just dump the funding they get for their project, a good ICO has prepared a nice roadmap and future development plan for itself and they would use that funding strategically for it's best use.
The large number of ICOs shouldnt affect bitcoin price like in the Ethereum because Ethereum takes the largest part contribution for ICOs than any other currency. The price of bitcoin recently rose with over $2000 in 2 week and you think it might not make additional $12000 in more than 18 weeks left of the year. Nothing still look impossible now though it looks unpredictable.
Not sure how you are comparing and relating the growth of Bitcoin with ICO. What you said is wrong. ICO does not influence the price of bitcoin. Having more ICOs in the market does not mean that the price of bitcoin will start to increase since people will invest on ICO using bitcoin. In fact it might be the opposite. There are tons of ICOs which are just pure scam. All they do is raise money from investors and runaway. They start dumping the btc they scammed from the people which might cause the price of bitcoin to fall.
I also think that ico's take a bit of Bitcoin's attention, more on quantity than on quality, there are very promising projects, but they end up sharing space with scam and smearing ico's reputation, but that's a no-go way. The price of Bitcoin has everything to increase in the coming months, the improvements of LN, the approaching of the next halving, not counting the possible approval of the ETF.
Because it is a period of great depression in which the fundamental element is missing: the desire to buy bitcoins until the uptrend starts again. It's like a cat biting its own tail.
On the contrary, there was panic last year but price eventually went up to such height and the same increase will repeat itself. I think we are rather going to have a bullish.
The price of bitcoin is cannot be predicted because bitcoin is volatile, volatility is normal, it means that its price is unpredictable to know if its going to increase or decrease. The price of bitcoin will maybe increase or decrease before the year ends, just like last year. Lets just hope that bitcoin will increase and reach its peak just like last year or even higher than that.This is just a Negative Speculation, no one can predict the market, what to become of Bitcoin in the future, every experts can only Speculate base on their own analysis, look at the Bitcoin status now? you maybe right on your own analysis about the effect of ICO vs. Bitcoin but should be supported by data analysis, With out other coin participating in the crypto market as posted now in crypto market, investors would be sluggish, no excitement, no competition in the market. Beside Market is Volatile.
A very accurate detection..The size of the market at the end of 2017 has led to the formation of many new projects..However, many of these projects have failed..Many were also scam..The market will rise with the success rate of new ico's.
You are very right on this the emergence of all the other altcoins and token has deeply affected the growth of bitcoin because the found that should have gone into bitcoin is being diverted into new icos or tokens which perform almost the service with bitcoin, we don't need too many tokens in that it will kill the original menssion of digital currency bitcoin is OK as the only cryptocurrency.
I think much of what has been going on is impacted by whales. I mean it is really hard applying finance and stock knowledge here. It is very volatile and unpredictable and not forget the high manipulation. However I still believe the 20k is possible.
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