With this recent surge in BTC, is it possible to have all time high this year?

Vishnu.Reang

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Quote from: ilovealtcoins on September 22, 2020, 03:49:58 AM

Bitcoin has had too much good news lately, but paradoxically, Bitcoin is in a downward correction trend.
Big companies like MicroStrategy bought hundreds of millions of dollars in Bitcoin, and record-high hashes are good news. Bitcoin could drop in price in the short term ahead of a strong bull run.

Actually we were expecting a big spike, after the latest block reward halving. The supply is getting reduced, so ideally the prices should rise. But that didn't realized, probably due to the difficult economic situation caused as a result of the COVID 19 pandemic. The current prices are broadly in line with what we were having 12 months ago. There were temporary spikes and dips, but none of them lasted more than a few weeks.

ilovealtcoins

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Bitcoin has had too much good news lately, but paradoxically, Bitcoin is in a downward correction trend.
Big companies like MicroStrategy bought hundreds of millions of dollars in Bitcoin, and record-high hashes are good news. Bitcoin could drop in price in the short term ahead of a strong bull run.

MCobian

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If you look at the Bitcoin price movement it is still difficult to return to the price of $ 12,000 after a deep correction to $ 10,200.
So I doubt that this year Bitcoin will be able to return to its all time high price, but at least Bitcoin's performance this year is not
that disappointing. And now the Bitcoin price is at $ 10,800. The current price is very good for buying Bitcoin, it is likely that in
the near future Bitcoin will rise to a price of $ 11,500.

Expecto

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Bitcoin has started to give green light in the last days. Its price reached 11k dollars again after some time. But still I don't have much hope about all time high on this year. Something tells me that it will happen on the first quarter of 2021.

Vatimins

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Well, it really isn't far from being plausible. I mean, naturally, people would expect that most of the investors would pull out their investments or people who have gotten interested in crypto currencies may have second thoughts on investing since it is in a time of pandemic; a time of need. But in the contrary, I think this would be quite positive for bitcoin since lots of people are losing jobs and looking for various ways to increase income while others are losing trust in fiat since inflation is waving almost every where. So I think it is possible to see an ATH before the year ends. But hey, in the end, these are all just speculations. Weigh everything clearly before investing.

ryap12

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Quote from: matchi2011 on September 14, 2020, 05:54:29 AM

Quote from: blckhawk on September 14, 2020, 05:43:04 AM

Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

It is too early to conclude Bitcoin will reach an all-time high price this year, as it is currently still at $ 11,800.
Still too far from the all time high price of $ 19,000. If two months from now Bitcoin manages to hit a price
of $ 15,000. I believe Bitcoin can again reach the all time high price.

Having the same thought. However, we are now getting closer to the last quarter of the year and that is the time when we will usually notice if we will hit the new ATH or not. Now it seems that Bitcoin is just hovering around 10k$ this only gives me an idea that it won't reach the ATH this time perhaps this will only rise between 15k$ to 17k$. But anyway, we still never know so I think we should take this as an opportunity to accumulate.

The chance of reaching that is also slim since after touching $12k it went down again,
however $10k barrier is quite good since newcomers are also showing interest to this market.
This spot for investing for more can bring decent profits if you are going to take the long ride
and let all things to passed.

Let me add also that we still got less than 4 months before the end of the year.
A lot could happen within that period. Note that back in 2017, it only took a few weeks to reach that all time high price for BTC.
Now, with decentralized finance projects added into the market, that would greatly affect the BTC price at the end of the year.
(My point of view)

ololajulo

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I am a little conservative with my price prediction into the end of the year. We could see something beyond but I dont expect new ATH this year for bitcoin, maybe in the 3 month of 2021. $15000-17000 is my high price range this year into the end of the year with a marketcap double ($600-700b) at the end of the year. Defi will produce many new projects in couple of months and new ATH for existing ones.

matchi2011

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Quote from: blckhawk on September 14, 2020, 05:43:04 AM

Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

It is too early to conclude Bitcoin will reach an all-time high price this year, as it is currently still at $ 11,800.
Still too far from the all time high price of $ 19,000. If two months from now Bitcoin manages to hit a price
of $ 15,000. I believe Bitcoin can again reach the all time high price.

Having the same thought. However, we are now getting closer to the last quarter of the year and that is the time when we will usually notice if we will hit the new ATH or not. Now it seems that Bitcoin is just hovering around 10k$ this only gives me an idea that it won't reach the ATH this time perhaps this will only rise between 15k$ to 17k$. But anyway, we still never know so I think we should take this as an opportunity to accumulate.

The chance of reaching that is also slim since after touching $12k it went down again,
however $10k barrier is quite good since newcomers are also showing interest to this market.
This spot for investing for more can bring decent profits if you are going to take the long ride
and let all things to passed.

ILuckyGuyI

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Quote from: Shaheer781 on August 15, 2020, 05:24:18 AM

Despite the pandemic and the current situation throughout the world, BTC keeps on surging upward in price. This might not be far from the upcoming halving happening in the next 13 days. If BTC can recover like this from $3800 and now trading above $9000, it is likely to speculate that we might have another all-time high this year?

I checked on the internet to be sure and there was no news about another halving. A Bitcoin halving already happened on May 11, 2020. Anyway, I think Bitcoin won't reach its all time high this year. Because after the last halving, Bitcoin demand has decreased but still there is no sign for a bull run. Also, there is still nothing that could trigger the price. Besides, there are people who don't think that the price is related to halving, but I'm not one of them.

blckhawk

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Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

It is too early to conclude Bitcoin will reach an all-time high price this year, as it is currently still at $ 11,800.
Still too far from the all time high price of $ 19,000. If two months from now Bitcoin manages to hit a price
of $ 15,000. I believe Bitcoin can again reach the all time high price.

Having the same thought. However, we are now getting closer to the last quarter of the year and that is the time when we will usually notice if we will hit the new ATH or not. Now it seems that Bitcoin is just hovering around 10k$ this only gives me an idea that it won't reach the ATH this time perhaps this will only rise between 15k$ to 17k$. But anyway, we still never know so I think we should take this as an opportunity to accumulate.

imstillthebest

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upcoming halving ? Is what I read legit and not a typo ? Because I thought the halving was over last months ago and I think that it would be too early to have another halving again but no doubt that halving attracts price increase and if ever there's another halving again then the anticipation for ath will possibly be achieve this time . Disregarding the halving there was still a surge in the price and alot of us expecting that it will make the ath alone but the excitement suddenly died down a little when the price collapse .

larus

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In my opinion, the general economic situation is not so friendly for new ATH

Kryptoschnack

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Quote from: Shaheer781 on August 15, 2020, 05:24:18 AM

Despite the pandemic and the current situation throughout the world, BTC keeps on surging upward in price. This might not be far from the upcoming halving happening in the next 13 days. If BTC can recover like this from $3800 and now trading above $9000, it is likely to speculate that we might have another all-time high this year?

I do believe it will take us till January 2021 especially after the recent pullback

bonjouros

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We are still in third quarter of the year 2020 and the remaining quarter will be a game changer whether we can hit the new ATH this year. Price increase is not that easy especially
that setbacks are normal in the market, everytime the bitcoin will break a certain barrier like 15k barrier then there is a big chance that there is a setback and the bitcoin price will
likely to go down again to 12-13k.

That is only normal to the cypto market because there are traders who are using this opportunity to earn more profit using this scenario. I haven't seen a bitcoin surge that there is no setback.
You should always remember it but let's all hope that bitcoin can reach a new ATH as soon as possible so we can experience again the bull season.

Inkdatar

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Quote from: ?? on ??

now we can only pray and try so that the price of bitcoin continues to increase and reach the peak of its highest price this year. in my opinion there is nothing impossible that bitcoin can reach an all-time high this year because many investors have joined bitcoin since the corona virus spreads to all countries. Many people have lost because of the corona virus so they make money through trading and investing in cryptocurrencies.

With this recent surge in bitcoin there's a possibility to have the all time high and also there's a chance it won't happen. We have 4 months before this year will ends and the best thing that we can do is hope that the current price of bitcoin will continue to soar in the market. Yes moreover you have a point there, with this pandemic some people focus in crypto to invest and earn profit.

DoubleEdgeEX

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Here an article with a nice summary of reasons: https://cryptoslate.com/these-4-factors-show-just-how-real-bitcoins-current-bull-run-truly-is/

I don´t fully agree with it though, since it has a very technical approach and not take the changes in global politics and economy in consideration

CarnagexD

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Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

It is too early to conclude Bitcoin will reach an all-time high price this year, as it is currently still at $ 11,800.

early indeed as we still have 4 months of a journey with the price, it is quite hard to assume where the price is going to hit last, but I hope it reaches our expectation somewhere between $15,000 to $17,000.
It is on $12,000, not that far from what I assume but 4 months may be enough to fill the money in and skyrocket til that price. Looking only in bitcoin will lose you opportunity though, try to make out some things from different coins too, I've seen LINK getting a real support out there along with bitcoin's pumping period. Some also debates that this year will be the year of altcoins rather than bitcoin. hmmm.

Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

Still too far from the all time high price of $ 19,000. If two months from now Bitcoin manages to hit a price
of $ 15,000. I believe Bitcoin can again reach the all time high price.

That could be, if in 2 months from now bitcoin soar up to $15,000 I'm very positive that we will see another All time high this year or just near passing it. Just stack up Wink

Slow death

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Quote from: online73 on August 15, 2020, 04:14:02 PM

Hello to all. Every day, I also ask myself more and more often - is a new historical maximum in the price of Bitcoin possible this year, judging by the schedule of recent months, I really believe in it.

it seems to me that it is a very difficult task to break the $ 12,000 and we are already on the 17th of August, as you can see there are only 4 months left to end the year and I am not seeing much enthusiasm about seeing the price of $ 20,000 this year . see this article:

Bitcoin ‘Whale Clusters’ Show $14K as Pivotal for BTC Price Bull Run

it seems to me that they are right in the analysis

Debonaire217

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In Code We Trust

It's probably a big hype to say that there will be an ATH this year for BTC because of the pandemic. We can see that some people are engaging to crypto because they think it was safer than physical transactions but not everyone are putting their funds to bitcoin. Why? This might be because bitcoin is not really suitable for small scale transactions. First, there are instances that bitcoin fees are too high, especially if users are still using a legacy wallet. Second, transactions confirmation isn't that fast for bitcoin to be suitable for small users to pay for goods or services. What I can see is that, more people engage in bitcoin because of investment. Looking to the condition of altcoins now, it's quite bullish, and it still has an impact to bitcoin especially when bitcoin fluctuates, more volume from altcoins will be traded to BTC and for me, will still not suffice our desire for BTC to reach new ATH this year.

Eugenar

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Since we are talking about possibility, it can go the otherway. So I must say, yes it has a possibility to reach its ATH this year but also, there is a possibility that it won't. Given how unpredictable the market is, no one can guarantee of such thing. But observing how the market behaves, the resistance is obvious at the $12k mark. If ever it will be able to break the "barrier" then it may have a higher chance to be close to its record. The only thing we can do is to wait and to just hold for now.

Quote from: Shasha80 on August 17, 2020, 01:24:26 AM

It is too early to conclude Bitcoin will reach an all-time high price this year, as it is currently still at $ 11,800.
Still too far from the all time high price of $ 19,000. If two months from now Bitcoin manages to hit a price
of $ 15,000. I believe Bitcoin can again reach the all time high price.

Quite true. There are still four months for Bitcoin's market value to show whether it would be able to again touch the history it created. Things could go better and things could go worse.

Topic: With this recent surge in BTC, is it possible to have all time high this year? (Read 601 times)