Will this year's bitcoin price potentially surpass the highs of last year? - page 3.

chickenado

hero member

Activity: 1036

Merit: 502

Quote from: KrakenZ on May 23, 2018, 10:44:37 PM

Bitcoin continues to experience pressure after approaching the fifth month of a bearish moving average.
Bitcoin was trading at $ 7.881.40, falling 4.27% on Wednesday (04/23) on the Bitfinex exchange.

The five-month moving average of Bitcoin was at $ 8.916, and the 10-month moving average was at $ 8.379, well off the high of nearly $ 20,000 in December. A fall in prices usually indicates lower price movements in the long run, some analysts said.

Total market capitalization totaled $ 344 billion, down from $ 382 billion on Tuesday.

Other digital coins are also moving lower. Ethereum, the world's second largest cryptocurrency by market capitalization, shed 10.36% to $ 620.25 on Bitfinex exchange. Ripple, the third largest virtual currency, tumbled 8.60% to $ 0.61299 while Litecoin was at $ 124.26 with a 6.57% jump.

The instability of the digital asset market could be more about how investors view than other factors that typically impact fiat currencies, a research paper from the University of Warwick suggests.
Trading volumes are driven by past returns and market uncertainty, while confidence in blockchain and digital currency technology also impacts prices.

There is a high probability that it could surpass the last year highest price of 20k. And here are the reasons why. 1. Bitcoin has proven to be no. one in the cryptocurrency industry. No matter how black propagandas are staining its name still to proves to be of significance to the general populace and it stays stronger every time it is being attacted. 2. Bitcoin is Getting more popular each year to other countries making a bigger and brighter market for it. 3. It continues to dominate the crypto market from the beginning till now.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

May is usually the month wherein shorters take a good 'ol laugh and the hopefuls usually hide behind a thick layer of disappointment and disbelief. Though with the current lows of today compared to last year's, I'd still take the beating we're experiencing right now and accept the price. As I've noticed, everytime after an ATH is blown, we settle into higher lows (if it makes sense) and becomes a new baseline for the price to work with. As long as we don't slid under the previous lows of previous ATH, I think we're pretty damn good, price wise.

franky1

legendary

Activity: 4424

Merit: 4794

the "highs" of last year lasted minutes
EG
there is no point saying that a retailer sold a 50" TV for $1. if there was only 1 TV and the store manager himself bought it.. such spectacular pricing events does not help anyone and no one benfits from the special price.

.
what people should concentrate on is that we do not go below the LOWS of previous years.

there are ways for a exchange whale/group of sharks, school of piranha to cause a mega spike to a new ATH but it can just correct back down to low levels again that exact same day. thus not being a useful price for many people to take an advenatage of, but becomes just a statistic.

so try not to concentrate on short term 10 minute events. and think about long term stable growth that everyone can take advantag of.

once people start accepting and helping to build good supports for the lows to nevr drop. then th cause/reaction would be it helps the speculative shirt term jumps to hannen and keps the low supports increasing. so that people dont need to hope for one time ATH events.. they can aim for long term increases

Haxor321

sr. member

Activity: 489

Merit: 250

Yes it can surpass the highs of last year. I could say that because even it has a long period of downfall it is has a much better situations than last year because it's movements are still in the mid value and not lower than that. So for me, it will be mean that it can also gives much better and higher movements before the end of this year and also I believe that nothing will be impossible to Bitcoin.

eddie13

legendary

Activity: 2296

Merit: 2262

BTC or BUST

If it goes through that line it looks bad..
If not, it looks good..

I think BTC can do about anything pricewise so I won't rule out new all time highs this year but I wouldn't count on it..
Holding in close to 10K would have me very happy for a while.. No need for another moon so soon IMO..

KrakenZ

jr. member

Activity: 145

Merit: 1

Bitcoin continues to experience pressure after approaching the fifth month of a bearish moving average.
Bitcoin was trading at $ 7.881.40, falling 4.27% on Wednesday (04/23) on the Bitfinex exchange.

The five-month moving average of Bitcoin was at $ 8.916, and the 10-month moving average was at $ 8.379, well off the high of nearly $ 20,000 in December. A fall in prices usually indicates lower price movements in the long run, some analysts said.

Total market capitalization totaled $ 344 billion, down from $ 382 billion on Tuesday.

Other digital coins are also moving lower. Ethereum, the world's second largest cryptocurrency by market capitalization, shed 10.36% to $ 620.25 on Bitfinex exchange. Ripple, the third largest virtual currency, tumbled 8.60% to $ 0.61299 while Litecoin was at $ 124.26 with a 6.57% jump.

The instability of the digital asset market could be more about how investors view than other factors that typically impact fiat currencies, a research paper from the University of Warwick suggests.
Trading volumes are driven by past returns and market uncertainty, while confidence in blockchain and digital currency technology also impacts prices.

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