Bitcoin Forum

Bitcoin rate continued to rise during the first weekdays of 2017 and reach its all time high price around $1139.89 but after that it has tremendously fallen and reach its current value $822.49.
So, the bullish wave, that has been fueling the price rate to surge since the last year or to be more precise since september, has been apprently reverse and the price rate of bitcoin has continuesly drop since then. Ive read some bitcoin speculations that this will continue til the upcoming week. So, what can we expect during the upcoming week ? Will the BTC price continue's to rise up after this brief price correction attempt ? Or the big guys in the market will continue to pull its price to lower levels ?

You should move this to the speculations thread, here : https://bitcointalk.org/index.php?board=57.0 because most of the responses will be pure speculation. You have to see this in the bigger context to understand what happened. China, one of the biggest users of bitcoins had a bit of a wake up call from their government. The Bitcoin exchanges had a visit from the government, when their government realized that citizens might be using bitcoin for capital flight.

They had to protect their fiat currency, so they decided to scare people away from Bitcoin, by initiating a visit to the place where most transactions in Bitcoin are done. The people panicked and they started to sell their bitcoins, in fear that these exchanges might be closed or that their coins might be confiscated. < Just one more reason why we need decentralized exchanges >

This will hopefully go away without hiccups, if these government officials find everything in order. If they are not in order, then people would have to find other ways to deal in bitcoins directly.

Op firstly this topic belonged in the speculation board as told to you above. There were multiple reasons why a bull run came and now why it's slowing down. The latest is the China news, if the exchanges come out clean rest assured nothing will happen, secondly every one might have traded btc at high levels that was another reason why it came down. Bitcoin is strong, buy when it's low and sell when it's high. Make good profits that all I can say.

As quoted by OP, the price has started to grow steeply by the year start. And due to the exchange inspection that took place in China made a big impact on the price. Following that the price fall in a very short time period and reached less than $800. Now once again it's giving a gradual increase. Hope this continues to make users happy.

I expect the  market to trading in range this next week as the discussion between block chains owner and china central bank created uncertainty in the market. The bitcoin market is going to trend between $900 and $750 and we should not expect major market movement next week until the details of the discussion is made public. If the details is positive then expect bitcoin to take another upward trending and if negative expect it to trend further dawn.

I do agree with this we saw bitcoins price rally on previous months which it able to reach peak price of $1100 and as you said exchange inspections do really affects the bitcoins price which it lowers its price $250 in a matter of week or day as far i remember which really worries for some bitcoin investors like me but still i dont lose hope because pullback will definitely happen and now its stabilizing again its price.

there are many different opinions about the Bitcoin exchange rates during the next
but I think Bitcoin will continue to grow stable
fluctuations have occurred, it was the foundation for further growth
I always believed in the future of this virtual currency

i say slow rise.

We can never tell what will happen in the future. Therefore, we cannot assume that bitcoin will increase or decrease it's value. What we can do is just hope that whatever happen to bitcoin in the near future will be beneficial to majority. But if we will base on its current performance in the market, I can say that bitcoin is doing good. I just hope that it will be consistent.

the bottom should be reached now, so i expect a increase from now maybe a steady one until we can get to the $900-1000 mark again but more stable this time

i think the price is still holding strong because of indian that bought bitcoin because of their note that were banned, other country are following also when they see the price increase

After the mass sell off I believe we might see this new floor at between 700-800 usd for quite some time now until more confidence builds again and of course we will see what will happen with the Chinese Exchanges and the Chinese People's Central Bank and what legislation will come to pass.

I don't expect further fall or biger rise. I.think that price will stay between 800 and 900$ next couple weeks and then begin to slowly rise again. You mentioned the big guys who have important role and their interest could be inpredictible but the price shouldn't fall deeper.

You having access to your private keys is something that prevents any authority to confiscate any amount of bitcoin, leaving funds on exchanges wallets is one of the biggest mistakes people make. The rise was due to holidays and whenever people are happy and celebrating with some cash bonus from their jobs, they bought bitcoin more than usual and now after 2 weeks the market corrected itself and if it didn't then we could've had problems saying the price manipulation is real. people need to know that no government can take their bitcoins unless they give access to their private keys.

I also guess it will hover between 800 and 900. But with Bitcoin you never knows what happened. If there is a hack or some bad news the price will directly goes down. Just hope only we hear some good news.

Oh sorry my bad i didn't know that this belong to the Speculation thread.
Thanks for the info now it's clearer hope that china comes back in investing bitcoin many countries are now using bitcoin also. If their people want to use it then let them be and they cant just take away someone's bitcoin that would be a serious data breach an invasion of privacy. Does the Bitcoin Exchanges sites doesnt have some kind of filtering of their users information.

The price of bitcoin is around $820-830 now and keep increase since yesterday. I think people trust the bitcoin again after the last week tragedy that bitcoin price goes down so hard and right now the price is become normal and increase. My speculation for next week is bitcoins price will increase.

Next week, there are two predictions I have for this. First prediction is that it will be stable at 800$ above and it might be the new floor price for february. Second prediction is that it will gradually rise in the coming week but there is a possibility of a dump happening again but that dip is less likely to happen if there are no more bad news that we will see next week if there is and it is major, then it will dump hard.

bitcoin will give you a surprise every day. but, we do not know what surprises will bitcoin give. may be, the higher the price, or the price is getting down. but, I think bitcoin prices will rise next week, because it always happens. I feel that this year bitcoin will be better than the previous year.

The bitcoin price will remain stable regardless of Chinese exchanges or Chinese fake volumes. We have experience high price mainly due to to big events like Christmas and New year 2017 and people created hype to reach new targets on these two days, so we got bitcoin flying. But now everything is going back to normal.

I'm also expecting the bouncing back of bitcoin prices will be keep on happening in upcoming days as there are many positive events is happening in many developed countries. New US economic policies is highly expected to support alternate investment like bitcoins.

I am expecting bitcoin prices to test $1000 levels again within this month itself. Currently sustaining price levels around $830+ is confirming that.

- Price may continue to rise up again in coming weeks if there will be no more chinese FUD. ;)
- Big guys have already tried to lower the price and they successfully did with FUD regarding PBOC investigation. Now their bags are full..
- Price may swing few $ for next few days or even week before we see another big pump again which may easily move price to above $1k.

I expect the same thing. The sellout was very weak, no real pressure. Only people who bought in the bubble sold out and the rest held firm. Now we have a period of uncertainty. Those who sold are rethinking their moves and cautiously buying back. The price will surely move up to retest the price and possibly break $1000 later this year.

I don't think there are big guys who try to keep the price lower. I think it is rather a big amount of people woth some sums of btc thinking it's the best time to sell everything now. I think the price will fall more and will stabilize around $650, so next week we'll see something like $730 as a btc price. I hope this won't happen, of course. People say this time when the price hit $1k it was different from two years ago, so maybe the price will grow again.

well i like to think of what you said more like this: there was a tremendous rise in a very short time from $780 to $1150 and then it had to be corrected so it dropped and caused a volatile situation as you can see right now. but the fact that we are still above that resistance levels we started from i don't think anything lower than that is possible. although we can never be sure with bitcoin.

I wish that they can not push more decrease back below and i think the price from $1k value is just a panic sell because of trending news that they seen in reddit.. and other forums. . and i think the price could be rise more soon much better to wait more weeks that the price could be rise back even in 900 level..
I believe that more company will come to contribute and push the price back to the normal price..

One of the following three things will happen, guaranteed:

1. Price stays largely the same, ie +/- $20
2. Price goes up a lot, like more than $20
3. Price drops down a lot, like more than 20

No need to thank me.

I've started to change to "slightly bullish" mode since the price recovered from the last dip. The reason is that the price only dipped under 5000 CNY for a very short time and the $720-30 resistance levels were not broken.

Since then, price has been fairly stable in the 780-850 area, with short upside and downside moves. My guess is: if we stay here for a while - and it's more probably every day - then we'll develop a good bottom for the next rally.

So to answer the question: I think the price will continue to stay between $780 and $850 for the whole next week; maybe at the end of the week it could near $900. Breaking $850 for more than 24 hours would be a bullish indicator.

they are the people who want to take advantage alone. bitcoin selling so cheaply create market panic sell.
bitcoin prices should be maintained when we save bitcoin longer.

Possible this range will stay $780-$850 for a week, depends on the upcoming news, the price of Bitcoin will follow.  As of now there is no factor to make Bitcoin price rise after the announcement of China about Bitcoin that triggers the sell panic and crash the Bitcoin price down to sub $800.  So I guess by next week unless there is good press or development on Bitcoin, it will stay in this range.

Base price has now in its stable price. And is a great news for all us.
As explained by the analyst that the reduced volatility had now taken a step back and we will just wait and see what would happen as they've seen that the negative impact changes that occurred has seemed more optimistic about it.

We seem to be stuck in a range, $820-840, but it hasn't been all that long.  I think we're going to break to the upside but I have absolutely no evidence to support this.  Just a gut feeling and probably worthless, too.  We were stuck so long last year at $420--it was like months before the halving, and no one could tell what it was going to do.  We're just about double that, so we're doing pretty well.  Yeah we almost hit the ATH, but where we're at is not too shabby.

We are back where we left before the price started pumping before the end of 2016. Hopefully the FUD will mellow down and the price will start to move back up, just like what it was doing before it rocketed to 1000+.

i hope $8xx its a stable price, i see that in a few days ago until now, the price is still in around $8xx but i am curious what will happen in next weeks but i am waiting for the jump of the price. yesterday i see the different price in about $3 and i think there is traders will make a good profit with this price.

The whale that dumped at $ 920 was unnecessary. I believe that's where we should have stayed after the correction. The next breakout should get us back in the 920 range where we will find a solid support.

We are at the resistance level now. And the correction which started at the level of  $1250-1300 seems finished and I don't think the fall will continue more. Because the volume becomes very scant. In my opinion, the index will rest a little bit at this level and then restart to rise up. I think in this year the index will break $1250-1300 level.

It wasn't just one whale dumping, but more like several and after that the panic went through the market which resulted in regular people to start dumping in panic. I am happy with the level of correction that we have experienced as it allowed me to buy back +$250 lower than where I sold at. And I am sure other people who bought back are thankful for this opportunity as well.

I'm referring only to the third big drop that happened jan 11. 6 movements of 1000 btc balance which were dormant since 2011-2013 all from one whale.

Well I guess it depends on the crisis going on in china about keeping fiat inside and somehow literally freezing BTC. But for more info you could check speculation section. You might find a better answer These.

I'm slightly changing my prediction: It looks bullish now, although we need to get past $838/40 (on Bitstamp and Bitfinex) to confirm it. If this point is passed, then I think momentum will build up and sentiment will get positive.

In case of a top in the 830s, the sideways market is likely to continue as I don't expect a sell-off for now. That would be even better for the long term as so a solid floor could form.

Its only going to take a tiny bit of momentum and I think we could easily get back to the $900 to $1000 range.
Unless there is some really bad news in the next couple weeks, people are going to realize the recent stories about China regulating or banning Bitcoin were just rumour, as usual.

Yeah right price will certainly be back to the numbers that you mentioned and will not drop further down. But for a few weeks I think the prices will still not stable and will remain as it is now because there are several factors that slow the growth of bitcoin, such as the one that you said. I'm sure this will not last long and prices will soon recover, most importantly do not panic and make mistakes because it will affect the market price.

It will depend, probably nothing too big will happen but with Trump taking office it could make markets move like crazy if he does something big in the first days on office.