Bitcoin Forum

All the idiots that still don't own any bitcoin will keep going FOMO every time it goes up. They are pussies scared to get in and once it starts rising they get in quick.

We will be at 1000 next year granted.

maybe, because before bitfinex occur bitcoin prices are on a rising trend. then when bitfinex happens many people panic and sell bitcoin, this also can affect some investor confidence. but good the price of bitcoin after fall and until now has been seen to recover. to reach $1000 is still likely to be achieved this year. yes i hope the price is able to reach $1000 by the end of this year.

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

There is no guarantee what will happen to price in future or what could be the price of bitcoin it will be right now if bitfinex wasn't hacked few month ago. But we have to be happy to see atleast price is rising even when there is lots of panic sellers in the market.

According to me It's just a reason for the price speculation after halving done, might be that was the issue for the price drop who knows.

I am pretty sure most know the price drop was due to 120k extra BTC flooding the market and the panic of another exchange "hack".  I wouldn't worry to much about what others do OP, everyone is playing their own game. The trick is to play your own and not waste your energy on others.

At that time the price didn't had any ups and downs and it was pretty much stable when the suddenly the bitfinex got hacked.

I don't think that until now the price would go so high such as 1,000 because the time is not far away from now.

If the bitcoin price would continue on that trend the maximum price that we could expect until now would be $800.

nah, even before bitfinix we were going pretty slow and downhill.

the main problem is the scaling debate, and the very sow progress on on-chain scaling. If there's even any progress at all.    

It has been predicted for years that the blocks would get full this year, and they have been full for most of the year. The amount of full blocks is really high, and this is bad because it limits growth.    

In fact it is literally impossible for bitcoin to get more active users right now, because the network is already running at max capacity. We NEED an upgrade to the blocksize. This is not optional.    

Only after a serous solution for the on-chain scaling we will be able to grow.        

But once that is fixed, we would have a lot of momentum to drive the price up, and I wouldn't be surprised to see it go up by 10 or 20 times.

Odds are 50 - 50
I would say that the $1k is a big challenge and passing this barrier could release the full potential of bitcoin that we believe in
For the bitfinex thing, ya it had harmed the price but I wouldn't say that it is the main cause

There's probably some truth to that, but explanations and predictions are always square dancing around the truth.   And none of us really know what that is.  Everyone thought the halving was going to blast us into outer space and that didn't happen.   In any case I'm enjoying the current little bull market.   It's a baby bull.

Price was in decline well before the bitfinex hack, but whatever. I do expect higher prices this fall/winter fwiw.

Good news that price is going up and we expect it to keep climbing.I hope in next two months it will be around $800 and next year we could have some more good news

I don't think it's really likely that we would've been at 1000/btc net year.
The most we'd probably get is around 800 (probably). It may go above 1000 though, bitcoin itself is a very volatile asset so it's not really known what kills it's price. But I don't think Bifinex would lose it that much as they only lost a very small amount of Bitcoins (compared to the number of bitcoins in circulation at the moment).

Even bitfinix tragedy happened, the price is come back to normal after 1 week. So, i thing it's still the same and i'm not sure it would be $1000+ without bitfinex tragedy.

$1000 next year? hmmm lets see if theres no incident that would cause the price to fall again. Seems legit if ever. My guess if bitfinex incident wasnt happen it will reach as early as this year. Just my guess.

There is no guarantee that we will reach $1000 next year or even in the future at all. After that 2013 ultra pump when bitcoin reached its ATH people were overly optimistic.
Right after that I've heard prediction that bitcoin will be $10.000 in 2018 - famous Tim Draper’s 2018 Bitcoin Price Prediction - and now this scenario seems very unlikely.

Optimistic crows cheered that after halving bitcoin will reach $1000 instantly, which also didn't happen...

Bitcoin is always "on its way to $1000". The problem is we do not know when. There will also be times that it will go low for a long time and in my opinion that is the best time to buy. At prices under $5000 - $10,000, BTC will be volatile because it's movements go in the hundreds or more. Percentage wise that will be very volatile. BTC needs to reach the price of $10,000 or more the the hundreds of dollars of volatility to be negligent.

In the very long term I am a believer it could really happen. But the problem is the question when?

i don't think so!

even if the bitfinex didn't happen the rise was a slow one and we would definitely be at a higher price like something around $700 but there is a long way to go until $1000 especially since that price is turning into a kind of a dream for many and a dumping point around it.

people will always beware especially for bitcoin trading even some people says that hold you bitcoin now and wait till prices reach to $1000 because we will hit those price in the near future but they were not fully trust for what you says because there is no guarantee those predictions will 100% correct
that's why some people don't dare holding too much bitcoin

1000+ is a bit of an overestimation imo.

Even without the finex hack, RSI data was showing that a downward correctino was inevitable. It just got more pronounced due to the finex hack that coincidently happened at the same time.

I do think bitcoin will continue rising for a while, as we certainly haven't seen the full potential yet.

It's really hard to tell, $1000 is obviosly really high enough to reach in that amount of time. You maybe right but we are not sure of that. But better investment is long term investment.

This. It was an expected decrease that people could have seen coming from miles away. Smart traders have used that as a great opportunity to take profits. I unfortunately didn't manage to buy below the $500 level at the lowest point of the dump, but I did manage to buy some coins below $550 levels.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

The market adjusts itself and it was pretty stable this year.
Bitcoin would clearly be under 1000$ even without the Bitfinex story.
And even the "over 1000$" for next near may not be touched before summer. I'll consider myself lucky if bitcoin continues to rise as much.


Actually the slower is the rise, less chance to fall too much.
Bitcoin is still young. All cryptos are. Patience...

$550 level on price would be still a good buy  as of now bitcoin price is   estimately $620+  which  it give already you a profit especially if you do short trades but if you want to wait further more then just  hold it and wait for  the price increase.$1k would be impossible  for this year surely because  bitcoins price do always goes  up and downs.

I think we would be on our way to 1k, but not at 1k yet. You see, the price drop after the hack wasnt all due to Bitfinex. There was strong instability as people thought the price was going to go up after the halving, and it started to go down.

Yeah, we will just suffer some nasty correction if  the prize of bitcoin suddenly jumps to 1000$. We should be happy as long as the price of bitcoin appreciates at a regular basis. At least we know that it is getting stronger.

it is a bit hard to say this about $1000 because it is like a milestone that will always be hardest to reach until we reach it and get passed that price.
but until that day it will be so hard and many weak hands will continue dumping because of their panic and slow this freaking rise down.

i don't think so the initial dump from $770 happened long before the bitfinex hack so it would be probably the same maybe not so low right it was few weeks ago

Its still doesnt guarantee that  if it rise slowly it would also fall slowly. Just like what happen before on bitfinex hack, we  certainly stabilize on $670- 680 price   then suddenly drop its price because of hack, we really dont know what would happen in the future. if that incident didnt happen then  our price as of now might $700+ i guess.

$700+ sounds reasonable. OP was complaining about not reaching yet $1000+. It's quite a difference.


That would mean either another bubble, either a continuous slow rise for years. I prefer the second.

I don't believe that at all. It may have carried on bouncing between 6-700 perhaps but that's about it. There's been no sign of the will to approach that pre hack and there's nothing particularly compelling to have made it happen had there not been a hack.

You have a point, its just a another bubble to reach that price would  quite unrealistic to consider.  As we see the bitcoins price movement as of now its quite slow compare to previous years i guess or just me.  If this movement would continue  it might not reach  a high amount  on upcoming  years.

actually i think a rise was possible before this big drop. maybe not to $1000 but definitely a rise.
if you remember, before the drop we were testing the bottoms for another time and there was a good resistance against going lower than $600 forming up and then the hack happened and messed up everything :D

I'm sure the will was there for more action, but nudging and perhaps breaking late 700s is very different than a run to $1000. I think it's all well placed for a positive end of year now. It's going to be fun to see what's served up.

1000 was not going to happen, because the halving was already over. The price would have be more stable in the 650 area. Now you can see that the price is climbing up to it's previous high which is the normal thing to expect.

it has always been like this.

whenever we see a big rise if you check out the history before that big rise you can see a rather big drop before it. and that big drop acts like a launching pad where the traders buy more fuel for their rockets and then launch to the moon.

Not 1000+ but i think we would be at 800+ if bitfinex didn't happen. Bitcoin was doing just fine before the bitfinex. It was building up slowly and it still does, but finex harmed that growth for a month or two.

DebitMe you don't understand.

the current price for bitcoin is not sustainable, because what happens if 20 million people want to own $100 worth of bitcoin.

We'd run out of bitcoin.

Bitcoin price has to go up rapidly to allow new users to own any meaningful amount of bitcoin.

Adoption doesn't grow slowly.

Adoption grows exponentially, so price is also expected to rise exponentially.

That's also why scaling is so important. (and the devs are way too slow on realizing and implementing this).

thing is, the moar the value, the moar the hacks. ::)

YEah, even without the bitfinex hack happening, I do not think we will reach 1000$ price this soon. AFTER the hype of halving, the price is due to go down then work its way back up. It will go up to 1000$ level but maybe in a few more years, not this year.

Agree, reaching $1k price  on this year would be impossible in my view since  as we saw on the bitcoins price movement its a little bit slow and  there are might  possible some circumtances that may affect bitcoins price in upcoming months or years just like what happen on bitfinex.

if the bitfinex thing didnt happen, we would be higher than 600ish but i dont believe that we would be around 1000.that number is way to high for the numbers of bitcoin in circulation.my guess is we wold have been around 650-700.

i think it was a possibility back then to reach the $1000 if the hack and the following panic sell didn't happen.

we were on the way to that price anyways when this big stop came along. although it was a good chance of buying cheap coins.

Nah don't be so optimistic dude that's not possible, maybe we could hit $700 if there was no hacking and dumping involved but $1000?

Before Bitfinex announced that there was a security breach Bitcoin price is merely touching $800 level. It may have reached $900 but $1,000 is to far for reality. There are other factors that made Bitcoin drops to $600 and even back to the $500 level.

nah it's not, the amount of bitcoin in circulation wouldn't prevent it from reaching $1000, but poor development team decisions are a much larger hurdle to overcome.

Just before Bitfinex came with a public statement about them having lost like 120K coins, the price was hovering above the $650 level. Due to the speculation around the block halving the price nearly reached $800, but it was all due to the hype. The price was very much due for a dive to the South. The market needed a cool down period.

i do not think so. if the bitfinex issue did not happen even then bitcoin would not be trading above 1000$. i think it would be trading above 800$. but hope that bitcoin is going to trade above 1000 very soon.

Let's make a timeline:
800$ range, Bitfinex got hacked price goes to 560$ range, Bitcoin didn't move that much, Bitcoin moved to 620$ (60$ difference).

Removing the Bitfinex from the set of events will result into an 800$ range, no significant movement for a while, +60$, we will be at 860$. There are flaws in this logic but you get the gist -- it will not touch 1000$ even if Bitfinex didn't get hacked. With the 800$ range, whales might have even dumped out some of their coins which would result for an even lower range. Nevertheless, none of us can do anything about these events. All we can do is wait for the next major price increase for we are all just speculators right now.

I think it won't affect the price of bitcoin even without bitfinex hacked, because when the bitfinex happened, yes the price is dropped but for the next 3-5 days the price come back to normal again.

the price tanked to $465 at the extreme bottom of the dump. it made the price go down more than $150 in a single day. that's a significant difference.

Sure Bitfinex slowed BTC uprise, if hack have not happened I think we would be somewhere in 800-850$ range, the 1000$ also have a physical meaning, first traders would try to dump on 1000$ make a short, but if and when 1000+ became stable there is big chance next BTC price hype will start
As soon the news start to publish bitcoin stable price and record high we gona see next race to uptrend will it be 2000 - 2500$ i am sure of it, but when i don`t know, we need some 3+ months period of no bad news for sure

You know that saying that we'd be at $1,000+ if Bitfinex didn't happen is completely unfounded right? Even saying it'd be up in the $800s? Just because we saw a buy-in over the past few weeks doesn't mean it's new money flowing in and there's a chance the market would have just stayed at the low $600s.

You can't say that a price change would have happened if the market stayed where it was. Chances are nothing was going to change, or at least not by much. I don't know how it can be said it would have gone up ~$400.

i'm sure that if bitfinex didn't hacked the price could possibly rising even higher,do you know the reason behind the price recover? i'm sure it's because of another business that affect bitcoin,so if the price could rising even after bitfinex hacked then imagine how if bitfinex wasn't hacked? the result will be ofcourse different

we will get there soon.

the price is already on the rise again but there is some weak hands also scared and cashing out so it is a slow rise.

You have  a point though but still it wouldnt reach $1000+  even bitfinex didnt get hacked previously and its a normal thing that bitcoins price would increase because  adoption rate  is  increasing too thats somehow affects the price to go up but still  its impossible  to reach $1k  in a short period of time.