Will Bitcoin break its previous ATH record of 20K before end of 2020? - page 2.

traderethereum

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If we are going to track the results of bitcoin using its pasture recorded data we can truly said such thing. But knowing that this idea is not a hidden thing, rather an obvious one we can also expect that this still holds two possibilities— that is the bullrun or the dump.

And the pump and the dump will always happen at the market, and you should better prepare for that so that you can use that moment for yourself.
If you know that the bitcoin price is at a low price, you can buy bitcoin and hold it, but you don't have to panic if the bitcoin price is down lower than before.
Before you buy bitcoin, maybe you need to place an order buy and never use the instant buy because we don't know what next will happen to bitcoin.
We need to play safe to buy bitcoin and don't be in a rush because if you can calm yourself down, you will see the best time to buy.

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Quote from: Vaskiy on November 13, 2020, 06:56:15 PM

No one knows about the market condition. Everything is associated with the market. Considering the previous bull trend there is more chance of reaching above the ATH. During the previous bull market there is sudden growth in $1000s which took the price cross $20000+ in few days time. This time we aren't into such pattern of growth. We've experiencing stabilized growth. Upon this there is possibility to touch $20000, but in a slower pace.

We've seen a much better growth right now, the support barrier continually forming. We can't tell that it will rise further in a much
quicker time we should assess more deeper.

The run gave opportunities to those who believes that it will grow more, even we won't see the last ath being met before this year
will end but to have a good support that won't let the value to fall huge is more enough.

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Quote from: davinchi on November 14, 2020, 10:04:12 AM

Breaking $20k is not really the point of bitcoin, aside from all the technological and psychological and even sociological reasons why bitcoin was created, the other point of investment to bitcoin is to always keep growing, it may go down time to time and take a while to get back but as long as bitcoin keeps growing bigger and bigger that means we are going to see a ton of big prices like this in the future.

that is not the point of bitcoin! the supply is capped to prevent inflation and also have a predefined and clear supply distribution plan that can not be easily changed on a whim like fiat. at some point when adoption has already grown enough the value increase will stop and the only rise we will see is in price against fiat whenever fiat value drops due to its inflation.

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Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does. The Bitcoin made all time high record back in 2017, the track record of BTC is that every three years it breaks it ATH record.

Not because the price is seemingly increasing it is too much to expect just like that,we have seen the growth from 4k level in march and now we are 16k.

Maybe it is good to look upon Bitcoin staying in this Grade until the final blow of Bull comes soon.
This year or the next?the important thing is the profit we might have when it comes.

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Quote from: Casdinyard on November 15, 2020, 06:21:53 PM

Quote from: davinchi on November 14, 2020, 10:04:12 AM

Breaking $20k is not really the point of bitcoin, aside from all the technological and psychological and even sociological reasons why bitcoin was created, the other point of investment to bitcoin is to always keep growing, it may go down time to time and take a while to get back but as long as bitcoin keeps growing bigger and bigger that means we are going to see a ton of big prices like this in the future.

Sure it will break $20k, it will also break $25k and $30k and $50k and $100k and all other higher prices, we will never stop going up, and will always have eyes on higher levels. The only reason why we are not investing right now all the time (which looking at price going up, many of us do) could be because we think short term and in short term it doesn't have to go up all the time.

I doubt that it is the purpose of Bitcoin.
It is a digital currency made to promote convenience with transactions. It just happened that its market price is volatile since there's a demand and volume in the market. But someday, once it's been adopted across different countries, things might change. Its market value could become stable, because it won't be used as a mode of payment if its price will still be volatile, in a sense that people will hesitate using it because of the profit, which is somewhat contradicts its concept as a currency.

You are right that BTC was created for convenience of Transaction across the globe but now individuals and institutions are buying it as store of value and hedge against inflation. it won't be used as mode of payment for purchasing goods and services as long as it remains volatile. Technically charts are also suggesting that there is strong possibility that BTC might break its ATH record before the year ends.

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Quote from: davinchi on November 14, 2020, 10:04:12 AM

Breaking $20k is not really the point of bitcoin, aside from all the technological and psychological and even sociological reasons why bitcoin was created, the other point of investment to bitcoin is to always keep growing, it may go down time to time and take a while to get back but as long as bitcoin keeps growing bigger and bigger that means we are going to see a ton of big prices like this in the future.

Sure it will break $20k, it will also break $25k and $30k and $50k and $100k and all other higher prices, we will never stop going up, and will always have eyes on higher levels. The only reason why we are not investing right now all the time (which looking at price going up, many of us do) could be because we think short term and in short term it doesn't have to go up all the time.

I doubt that it is the purpose of Bitcoin.
It is a digital currency made to promote convenience with transactions. It just happened that its market price is volatile since there's a demand and volume in the market. But someday, once it's been adopted across different countries, things might change. Its market value could become stable, because it won't be used as a mode of payment if its price will still be volatile, in a sense that people will hesitate using it because of the profit, which is somewhat contradicts its concept as a currency.

davinchi

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Breaking $20k is not really the point of bitcoin, aside from all the technological and psychological and even sociological reasons why bitcoin was created, the other point of investment to bitcoin is to always keep growing, it may go down time to time and take a while to get back but as long as bitcoin keeps growing bigger and bigger that means we are going to see a ton of big prices like this in the future.

Sure it will break $20k, it will also break $25k and $30k and $50k and $100k and all other higher prices, we will never stop going up, and will always have eyes on higher levels. The only reason why we are not investing right now all the time (which looking at price going up, many of us do) could be because we think short term and in short term it doesn't have to go up all the time.

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I'll take this seriously and putting my bets to $17,500-$$18,00 before we end this year.
Seeing $20k is only less possible to make it come true. The closest we reach at $20k, the slower and harder it moves high, in fact, dumps have something to puddle down and we are moving down again below $16,000.

IMHO, this year 2020 is very different from previous years. Why? A lot of challenges come, not only in the crypto world but also in the local stock market. The good thing is that we are still able to move and gain back the momentum but this is not enough (I think) that it brings us to the highest peak.

You said it very right that 2020 was not is very difficult year for the whole world. All major economies are in Recession including USA and Europe. The only only economy which is still not in bad shape despite pandemic covid-19, is China. keeping in view this dismal situation I think your guess seems very right that BTC will between 17,500 to 18,000 when we be celebrating New year.

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Quote from: Sayeds56 on November 10, 2020, 11:51:37 PM

Quote from: pooya87 on November 10, 2020, 10:14:27 PM

there really is no fixed timeframe for these things because bitcoin price rises are greatly affected by a lot of different factors (most of which involve factors affecting the adoption). for example anything that can speed up the adoption such as countries adopting bitcoin as a currency (eg. Japan in 2017) greatly increases the adoption speed and with it the price reaches the next ATH a lot faster. on the other hand opposite things that can slow down adoption greatly decrease the speed and increase the time it takes to reach the next ATH. for example the recent pandemic panic sell or a economic crash/recession could slow it down.

my guess is that the previous ATH will be broken next year in first couple of months and within first quarter we will see new ATH around $35k to $40k and by the end of 2021 we will have the final ATH above $50k and possibly around $100k.

Well said. My forecast that it might break ATH before the year ends, is based on Technical charts which suggest that if BTC breaks 17,000 the it won't take much time to break 20,000 ATH record and current market trend is Bullish. Secondly, the Intuitions are making huge buying which is evident from growing trading volumes of all major exchanges.

you are forgetting that the closer we get to the previous ATH the harder it will become to rise up due to all the people who keep selling in that range for whatever reason. take a look at 2017 and the period when price first passed $1000 (previous ATH at that time was about $1200 about 16% higher). this is why i used next year as the time to reach the previous ATH.

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No one knows about the market condition. Everything is associated with the market. Considering the previous bull trend there is more chance of reaching above the ATH. During the previous bull market there is sudden growth in $1000s which took the price cross $20000+ in few days time. This time we aren't into such pattern of growth. We've experiencing stabilized growth. Upon this there is possibility to touch $20000, but in a slower pace.

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Of course, Bitcoin price can pass the ATH and has new ATH but we cannot claim it now. The next price for Bitcoin is something unpredictable, let's just monitor and still plan a realistic goal. As the current price is still around $16K, why don't try to predict the price to go $17K first? It should be more sense than predict passing the ATH ($20K).

Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does.

Can we trust this? Honestly, I doubt it. Not each history can repeat, you must think realistically than rely on something doubtful.

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Quote from: STT on November 12, 2020, 04:01:04 PM

I think theres too much news going on for a new high this year, you have an election result but its disputed and protracted in its resolution which means doubts can be a negative for most of the rest of this year. You have possible upset from that change of guard. There is the danger of markets over speculating the end of covid when any vaccine takes months maybe even a year to propagate which matters because markets falling will bring margin calls and a need for capital which BTC is to some extent, a liquid source of capital.
Its not negative especially for BTC to pull back at this point, a price often checked is far more assured in its gains long term. Its better to be bullish when people are too apprehensive, where as now most are very positive from these previous gains hence I would advise some caution while taking part purely in a speculative way so that means keep a stop loss on trades.

You said it very right that we should be optimistic but simultaneously not forget to use stop loss while trading. No doubt the probability of further price escalation is on higher side. As well as the data of options market suggests that BTC will break its ATH record before the year ends. Let's wait and see what year end brings for us.

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Quote from: Taskford on November 13, 2020, 05:24:15 AM

Yes we can tell but we are now at $16.2k based on CMC price so if there's something good happen especially I believe the Christmas day can create hype since for sure many will think about good things on that season so provably $20k is possible to reached. Also I agree many people still look after on the adoption of PayPal that's why we continuously see some good jumps at this moment.

That still needs more time to see the bitcoin price can reach $20k, but I am sure that it will be possible to happen.
Maybe we will get a surprise from bitcoin before the end of this year, and if that surprise is a jump in bitcoin price, that will be a big surprise because we can see that price again this year.
The news from Paypal indeed gives more chance for bitcoin to grow and get more adoption from Paypal's members, so that can make people out there aware of the presence of bitcoin.
Sooner or later, they will start to buy bitcoin from their Paypal account and send it to a different wallet.
We hope that there will be more good news about bitcoin that will release to help bitcoin grow more.
We need to happy with the situations now because bitcoin can rise slowly to break the high price.

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Quote from: Taskford on November 13, 2020, 05:24:15 AM

Quote from: blckhawk on November 13, 2020, 05:20:39 AM

Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does. The Bitcoin made all time high record back in 2017, the track record of BTC is that every three years it breaks it ATH record.

Well, we can't exactly tell though however, I have a feeling and I want to believe that we will set a new record before the end of the year or perhaps in the 1st Quarter of 2021.
Bitcoin is now hovering around $15k USD, even touch the mark of $16k USD, it is basically making a subtle movement and if this continues there's no doubt that we will witness the new ATH. Besides, I don't think it will become a bubble though. A lot of people are now procuring Bitcoin since it became convenient for them due to Paypal's cryptocurrency acceptance.

Yes we can tell but we are now at $16.2k based on CMC price so if there's something good happen especially I believe the Christmas day can create hype since for sure many will think about good things on that season so provably $20k is possible to reached. Also I agree many people still look after on the adoption of PayPal that's why we continuously see some good jumps at this moment.

What about last year's holidays?
Well the price is indeed close to its previous ATH, so there is a huge possibility. But possibility is not certainty, that's the point.
Ofcourse it would be good to anticipate the good things that might happen but it is better to not expect too much because the market is naturally inconsistent and things could still happen which could break our expectations. So just hold for now and invest if you must.

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Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does. The Bitcoin made all time high record back in 2017, the track record of BTC is that every three years it breaks it ATH record.

If history really repeats itself too then I'll expect that there will be a a bearish run on for over a week on the month November if what we'll base on is the 2017 ATH. I don't think it's always breaking every 3 years or by December but I think that's the norm now for speculation. The price ATH of $1.2k was way back on 2013 and that's on the month of November and if we would speak for the next ATH it was of December 2017 so that's a 4 year gap so to speak.

I think it's a healthy speculation but on conclusion ATH do always happen on the 4th quarter of the year so maybe it's a new ATH this year and that's 3 years not 4 years anymore. So, could we say that by the next year it will turn bearish? No one knows but we are free to speculate and sometimes that's a driving force as well as the charts.

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Quote from: bitgolden on November 11, 2020, 01:28:44 PM

Even if we can't break before 2020 ends, we could wait a bit more can't we? I mean I would suggest not buying from here because we are already very high and would suggest everyone to wait a bit until we get down a bit in order to make some profit, but if we are not doing that and still buying, at least we could wait a big longer.

I hope you and me have our hopes listened to. I wanted it to hold at $14k but it went to $15k and now it seems to be looking above $16k gains. If we are unluckier we will even see ATH this month at this rate.

Seems nice, but not to those of us who are still earning small amounts. Hard to see that you earn or buy $50 and you only get about 300k+ satoshi now, which people gamble in one bet on crypto casinos. Ulp!

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Quote from: blckhawk on November 13, 2020, 05:20:39 AM

Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does. The Bitcoin made all time high record back in 2017, the track record of BTC is that every three years it breaks it ATH record.

Well, we can't exactly tell though however, I have a feeling and I want to believe that we will set a new record before the end of the year or perhaps in the 1st Quarter of 2021.
Bitcoin is now hovering around $15k USD, even touch the mark of $16k USD, it is basically making a subtle movement and if this continues there's no doubt that we will witness the new ATH. Besides, I don't think it will become a bubble though. A lot of people are now procuring Bitcoin since it became convenient for them due to Paypal's cryptocurrency acceptance.

Yes we can tell but we are now at $16.2k based on CMC price so if there's something good happen especially I believe the Christmas day can create hype since for sure many will think about good things on that season so provably $20k is possible to reached. Also I agree many people still look after on the adoption of PayPal that's why we continuously see some good jumps at this moment.

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Quote from: Sayeds56 on November 08, 2020, 09:24:15 AM

History always repeats itself but you never know when it does. The Bitcoin made all time high record back in 2017, the track record of BTC is that every three years it breaks it ATH record.

Well, we can't exactly tell though however, I have a feeling and I want to believe that we will set a new record before the end of the year or perhaps in the 1st Quarter of 2021.
Bitcoin is now hovering around $15k USD, even touch the mark of $16k USD, it is basically making a subtle movement and if this continues there's no doubt that we will witness the new ATH. Besides, I don't think it will become a bubble though. A lot of people are now procuring Bitcoin since it became convenient for them due to Paypal's cryptocurrency acceptance.

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Normally I used to say nobody knows to these type of things but looking at how we are doing and seeing how we are not stopping, I feel like it could very well be something we could do without any trouble. I am not saying it will be 100% 20k+ before the year ends but all I am saying is, everything looks like it could definitely do something like that without a doubt.

We will have to wait and see obviously, but from 10k to 16k in just 2 months (under 2 months really) is something special and it shows that bitcoin could definitely go up another 4k in the next 40-50 days as well, the only question remains here is not "will it be 20k+" to me actually, it is more like "will 50 days be enough to reach 20k" because I feel like we will surely beat over 20k but I don't know if 2020 will be enough, maybe a month into 2021?

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I think what will happen is $20K is going to be the new $6K that we battled back in 2017 and 2018. Remember how it was strong support, and then we assumed it would be strong resistance but instead it engulfed $6K like butter and kept going up and up till $13.8K ?

So we will either never reach $20K, maybe $16.5K was the peak or $19.5K will be the peak. Most will have their sell orders at $20K and they will never fill. Another scenario is that we will reach $20K and quickly break and go to like $21K or $22K. I don't think we will go exactly to $20K and reverse.

This doesn't really help however, unless you maybe buy some $20K put option for BTC. Which many won't do due to the high premium.

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