Will Bitcoin reach $150K in the next Bull Run?

CoinFellow

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Quote from: pawanjain on November 09, 2023, 11:09:26 AM

Quote from: Bitcoin Smith on November 09, 2023, 05:19:03 AM

Quote from: pakhitheboss on November 09, 2023, 12:23:42 AM

What do you think of the current market situation and where do you think the price of Bitcoin going next?

I don't think there will be any chances for Bitcoin ETF to be approved and that is also has been expressed on multiple forums but we can't know whether it will happen or not. Based on my assumption it will be rejected so there will be a price correction coming up and I feel it is also the reason why network is highly congested for the past few days.

In my opinion, Bitcoin ETF has it's own pros and cons. While there are many, there is one important pro and con that I can think of.
If bitcoin ETF gets approved it will bring huge market players into the crypto market which will increase the crypto market cap and send bitcoin to new heights.
But this will also bring centralization into the market since big players will be able to manipulate BTC price (may be a little bit but still).
So if bitcoin ETFs get rejected we will be on a safer side from such centralization and manipulation.

We need to have big players coming into this market now for it to gain traction and get wider acceptability.

TheUltraElite

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Quote from: Bureau on November 13, 2023, 03:47:35 AM

I agree with your prediction that the next level for the price would be 40k and then we will see another set of profit bookings. I think we should achieve it by the end of this month or the first week of December. I read some speculation that the rebound might lead the price to go below 22k. I doubt that would happen but nothing is guaranteed with Bitcoin volatility and we as a community have seen how fast it went down from its previous ATH earlier. In the meantime did anyone check how fast ORDI is pumping? It started from $10 and yesterday it touched $24, now trading at $22. This is the coin that is causing so much congestion in the memepool. The Bitcoin transaction fee is skyrocketing because of this coin and it will remain the same in the coming times.

Both sides are possible. If the price touches 40k then all good but a dump might be incoming. If the price drops to 22k hold it out till you feel the speed of dropping is reducing and then buy at that level. At this point 36k seems to be a stable possibility and moving down from there would not be possible unless something big happens. It is only spiking upwards from that level.

ORDI crossed its starting price of 17$ back in may 2023 and is currently trading at an all time high. NFTs on bitcoin and BRC sounds like deja vu to me. I am not into them and will be only watching how things go on.

Bureau

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Quote from: TheUltraElite on November 09, 2023, 11:50:29 AM

Like I said, I keep the next target at 40k USD. I have sell orders ready at 45k and 50k USD after which I will hold back and wait for the prices to rebound back before buying back at the lows. Possibly we might even break the all time high if this momentum continues. It seems today afternoon it touched a high of 37.7k and then dropped back to 36k. Resistance is being felt at 37k level and thus we have to see if this breaks or not.

Hoping for the best Grin

I agree with your prediction that the next level for the price would be 40k and then we will see another set of profit bookings. I think we should achieve it by the end of this month or the first week of December. I read some speculation that the rebound might lead the price to go below 22k. I doubt that would happen but nothing is guaranteed with Bitcoin volatility and we as a community have seen how fast it went down from its previous ATH earlier. In the meantime did anyone check how fast ORDI is pumping? It started from $10 and yesterday it touched $24, now trading at $22. This is the coin that is causing so much congestion in the memepool. The Bitcoin transaction fee is skyrocketing because of this coin and it will remain the same in the coming times.

TheUltraElite

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So anyway, I applied as a merit source :)

Like I said, I keep the next target at 40k USD. I have sell orders ready at 45k and 50k USD after which I will hold back and wait for the prices to rebound back before buying back at the lows. Possibly we might even break the all time high if this momentum continues. It seems today afternoon it touched a high of 37.7k and then dropped back to 36k. Resistance is being felt at 37k level and thus we have to see if this breaks or not.

Hoping for the best Grin

pawanjain

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Quote from: Bitcoin Smith on November 09, 2023, 05:19:03 AM

Quote from: pakhitheboss on November 09, 2023, 12:23:42 AM

What do you think of the current market situation and where do you think the price of Bitcoin going next?

I don't think there will be any chances for Bitcoin ETF to be approved and that is also has been expressed on multiple forums but we can't know whether it will happen or not. Based on my assumption it will be rejected so there will be a price correction coming up and I feel it is also the reason why network is highly congested for the past few days.

In my opinion, Bitcoin ETF has it's own pros and cons. While there are many, there is one important pro and con that I can think of.
If bitcoin ETF gets approved it will bring huge market players into the crypto market which will increase the crypto market cap and send bitcoin to new heights.
But this will also bring centralization into the market since big players will be able to manipulate BTC price (may be a little bit but still).
So if bitcoin ETFs get rejected we will be on a safer side from such centralization and manipulation.

Bitcoin Smith

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Quote from: pakhitheboss on November 09, 2023, 12:23:42 AM

What do you think of the current market situation and where do you think the price of Bitcoin going next?

I don't think there will be any chances for Bitcoin ETF to be approved and that is also has been expressed on multiple forums but we can't know whether it will happen or not. Based on my assumption it will be rejected so there will be a price correction coming up and I feel it is also the reason why network is highly congested for the past few days.

pakhitheboss

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Bitcoin's first time in 2023 reached a new peak of $36,494, while writing this reply it is trading at $36,620. A small Bull run in the making and it might last for the next 8 days.

The reason is that the SEC has only an 8-day window starting from today to approve all 12 spot Bitcoin ETF applications this year. They can disapprove all of them once again but the speculation of the SEC approving all of them is high and that is the reason we can see the market in green. What do you think of the current market situation and where do you think the price of Bitcoin going next?

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Bureau on November 08, 2023, 07:02:51 AM

-snip-

A war of any degree between any number of countries is bad news for everyone.

With a global war, we will defenitely have a drop in bitcoin price. But be realistic here, if a war like that does happen, we will have difficulty surviving in our own country itself before thinking about bitcoin. Costs of daily necessities will go up and life will become a hardship just like post-WW2 days, I am sure most people here will not have known the horrors of that time, but only seen the movies that have portrayed them.

Bitcoin would become the least of your worries then, survival becomes difficult.

Bitcoin Smith

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Quote from: Bureau on November 08, 2023, 07:02:51 AM

When two powerful economies are indirectly in war against each other then they drag those countries that support them into the war. This is why I suspect another World war is in the making and it will be called WW-3

Yeah, I understand what you are saying is from financial perspective and I agree with you completely but imagine if there is a situation called WWIII then the chances of nuclear bombs to be used is high and if that is used there will be no humans exists to care about the money in my opinion and I don't think there will ever be WWIII and it will always be cold war situations and for that having bitcoin is important.

Bureau

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Quote from: Bitcoin Smith on November 08, 2023, 01:16:19 AM

AFAIK, SEC rejected all Bitcoin applications that is why we saw the stall in the price surge and network become congested still the ETF's may get accepted in other entities which will not be helpful at all in the long run for bitcoin, but it will become the catalyst to pump bitcoin's price.

At the time of crisis the asset prices will crash at first then it will grow beyond its previous value but WWIII, I don't know because if there is such an event then we can safely say that the extinction of human race began.

I talked about a crisis scenario and the last crisis we encountered was when the human race was hit by a pandemic. Already there is a war going on in Europe and a few European countries are already in recession. Now there is a similar situation in the Middle East, which can escalate to a proper war in some time. The US is funding both wars they have already opened two fronts.

This is when China will try to take over Taiwan and most are predicting it will happen in 2024. Now, my friend in such a situation the wealth of those rich will depreciate and the global market would go down in such a situation they come to Bitcoin, as in the rich and institutional investors. The same scenario happened when the pandemic caused the global market to go into the red.

When two powerful economies are indirectly in war against each other then they drag those countries that support them into the war. This is why I suspect another World war is in the making and it will be called WW-3

Bitcoin Smith

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Quote from: Bureau on November 07, 2023, 08:16:35 AM

Since we are speculating what happens if one of the Bitcoin ETF's get approved before the year ends. What happens when a third world war starts as we know it is looming now. Why I talked about a war is because anytime when there is a global crisis Bitcoin gets pumped. The best example will be COVID 19 which I feel was the reason for Bitcoin to pump and create a new high.

What is happening now can cause a lot of people to invest in Bitcoin. It has happened in the past and it can happen before the year end. There is one thing that everyone believes and that is called security of someones money. Bitcoin provides that security without the influence of a third party.

AFAIK, SEC rejected all Bitcoin applications that is why we saw the stall in the price surge and network become congested still the ETF's may get accepted in other entities which will not be helpful at all in the long run for bitcoin, but it will become the catalyst to pump bitcoin's price.

At the time of crisis the asset prices will crash at first then it will grow beyond its previous value but WWIII, I don't know because if there is such an event then we can safely say that the extinction of human race began.

Bureau

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Quote from: kentrolla on November 06, 2023, 03:16:34 PM

I would say halving has always sent the Bitcoin price soaring up and I feel the same would happen this time as well because Halving reduces the supply or mining capability by half and even if the market trades at the same phase still demand will be increased because the new coins getting mined is reduced by half.

But I am still little bit skeptical about ETF as all these years Bitcoin has fought a lone battle and survived against the regulators and banking institutions and giving a nod for ETF will bring bitcoin into more mainstream than ever which may change the course of overall stock market itself which is something big bosses don't want to happen as it would be difficult for them to manipulate the market for Bitcoin ETF.

Let's all keep ourself updated with latest developments happening around Bitcoin and take the appropriate step, I feel Bitcoin may close this year in the range of $40k to $45k as $150k looks out of range as of now but not impossible.

This year it won't go to the range of $150k for sure. What you predicted for this year is something that I can agree too. The reason being there are only two months left for the year to end.

Since we are speculating what happens if one of the Bitcoin ETF's get approved before the year ends. What happens when a third world war starts as we know it is looming now. Why I talked about a war is because anytime when there is a global crisis Bitcoin gets pumped. The best example will be COVID 19 which I feel was the reason for Bitcoin to pump and create a new high.

What is happening now can cause a lot of people to invest in Bitcoin. It has happened in the past and it can happen before the year end. There is one thing that everyone believes and that is called security of someones money. Bitcoin provides that security without the influence of a third party.

kentrolla

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I would say halving has always sent the Bitcoin price soaring up and I feel the same would happen this time as well because Halving reduces the supply or mining capability by half and even if the market trades at the same phase still demand will be increased because the new coins getting mined is reduced by half.

But I am still little bit skeptical about ETF as all these years Bitcoin has fought a lone battle and survived against the regulators and banking institutions and giving a nod for ETF will bring bitcoin into more mainstream than ever which may change the course of overall stock market itself which is something big bosses don't want to happen as it would be difficult for them to manipulate the market for Bitcoin ETF.

Let's all keep ourself updated with latest developments happening around Bitcoin and take the appropriate step, I feel Bitcoin may close this year in the range of $40k to $45k as $150k looks out of range as of now but not impossible.

pawanjain

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Quote from: Bureau on October 30, 2023, 02:00:15 PM

By March or April of next year, we will see the next halving occurring and we all know what halving does to Bitcoin. For those who are new here, halving means Bull run, and in general, it happens after the halving in 1 year. As we know there is a race going on in the USA where every financial giant is trying to get their Bitcoin ETF approved by the SEC. Considering these two factors what do you guys think would be the new Bitcoin all-time high?

Please use the poll and comment below on why you think the price of Bitcoin will break the old-time high and the reason why it will reach a new ATH.

A speculation thread in Indian board. Interesting but you would get more answers if you would post it in global boards.
I personally think bitcoin will definitely cross the ATH because it always does.
The next ATH can be near $100k because I have heard that there's a huge wall at that price point.
A lot of people are waiting to sell at $100k.

Bureau

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Quote from: TheUltraElite on November 01, 2023, 09:43:55 AM

I have my doubts about a price as big as 120-150k USD. But I dont mind seeing such huge prices because that would mean more profits from my long term orders. Even then I prefer keeping an approach to 40k USD first before 50K and eventually crossing the previous all time high.

With the ETFs we might see such prices happen. But the question is for long the prices will be able to maintain such highs. Because you need to consolidate each support level before moving to the upper on. Sudden rise means a sudden fall too.

I was able to compile the dates and the price point when Bitcoin reached its ATH

- November 2013 - $1,242.00 - reason media coverage of Bitcoin.

- December 2017 - $19,783.06 - reason crypto bubble.

- April 2021 - $64,804.72 - reason institutionalized investors

- November 2021 - $68,990.90 - Current ATH

The big gap happened between 2017 and 2021, as we progress near halving which is next year I feel we might see another big jump in 2025. The reason this time would be ETF and a lot of Investment coming from big financial institutions. That is why I feel the price of 100k for Bitcoin would be easy to reach.

TheUltraElite

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So anyway, I applied as a merit source :)

I have my doubts about a price as big as 120-150k USD. But I dont mind seeing such huge prices because that would mean more profits from my long term orders. Even then I prefer keeping an approach to 40k USD first before 50K and eventually crossing the previous all time high.

With the ETFs we might see such prices happen. But the question is for long the prices will be able to maintain such highs. Because you need to consolidate each support level before moving to the upper on. Sudden rise means a sudden fall too.

elevates

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I won't be surprised in the next bull run if Bitcoin price surges to $150k. There are a lot of positive sentiments in the market at the moment. In 2021 COVID panic and uncertainty of the future helped Bitcoin reach 69k, wherein both Institutional investors and retail investors invested in Bitcoin heavily. Now with the war looming, Bitcoin ETF, and halving we might again see the same kind of Bull run due to one factor that is uncertain of the future. I am positive the next ATH would be bigger than the previous and it would make Bitcoin one of the best investment option in the global market.

pakhitheboss

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There could be another short rally as another spot Bitcoin ETF has made its way onto the DTCC's list. A few days back we saw a surge in Bitcoin price when Blackrock's application got listed. The price went up to $36k and now it's trading around $34 to $35k. The recent one is from Invesco & Galaxy Spot Bitcoin ETF (BTCO). We might see another surge in the price of Bitcoin in the coming days.

Bitcoin Smith

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Quote from: TheUltraElite on October 31, 2023, 08:57:26 AM

But 150k is to bizarre to think of. Be realistic here and keep realistic goals. We need to break the previous ATH first and then find a new one. Anyways when a new ATH happens, a lot of selling pressure to defend that price will come in.

Honestly, I feel 120K to 130K can be the realistic value to achieve, and it's just based on doubling the ATH value of BTC from its previous bullish season. Here is a breakdown BTC price chart.

From the chart we can see the from 2017 to 2021 the price tripled, and previously it was way higher, so I assume even if it doubles the price can reach over 120K for sure.

TheUltraElite

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So anyway, I applied as a merit source :)

Last ATH was 69k$ which is a sexy number on its own Grin

and we are currently trading half of that.

I am not keeping any predictions at this moment about next halving and halving related price changes but with the recent pump in price from 26k to 34k and the consolidation at 34k, I am hopeful for 40k to be reached in the next few weeks if things go well with ETF and all.

But 150k is to bizarre to think of. Be realistic here and keep realistic goals. We need to break the previous ATH first and then find a new one. Anyways when a new ATH happens, a lot of selling pressure to defend that price will come in.

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