Bitcoin Forum

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

Japan news is obviously affecting everything but this rise is officially crazy at this point. which, to be honest, makes it a bit scary to me. i think we all were expecting a rise after the big dip of earlier this year and after all the drama and FUD cleared from the community, i was also expecting an easier rise above $1000 in general, you know because below that price had already happened and everyone had targets for 2 or 3 years to sell or do something at $1000 mark but above it (like $1500) is new and nobody had any strict plans of "this is the end" kind of deal.
and that mentality alone removes a lot of the sell pressure on the market and can make the rise so much easier.

Yeah the legalisation of Bitcoin in Japan has definitely helped along with the new budget in Australia. That has also influenced it a bit. I hope it keeps rising though.

It is at least an order of magnitude overvalued and it will pop soon!
Proper TA put's a supported price around 700-900 usd with a true target value of around 500 usd.

Don't be left holding the bags, you have been warned.

And that is all considering we can maintain current core situation which is almost sure we cannot.
The hardfork is pretty much imminent with 46% BU support and growing. Only 4% to go before we have the hardfork.

It will not just crash the price it will oblitterate it. Bitcoin will sink into the abyss as a low value altcoin.

Oh bets are still open on this. I'm offering 10k USD up for bets. Still no takers i guess? Cause you're all so certain...

Yeah this great to see on one hand but it's also a bit too fast how we move up at the moment.
Imo the market may try to push to $2000 and then some correction may happen.Hopefully not too much.
Japan is definitely kicking in as fuel for the price rise. Australia by the way is going to remove goods and service tax on bitcoin and other crypto currencies soon. This may push the price a bit as well.

Yeah this is the reason why bitcoin price goes overvalued.
I personally believe that the price will go over $3000 soon because many other territories are yet to anounce it a legal currency. Those who retain bitcoins, will get huge profits i think.

This is a high price of course. This may actually make bitcoin prices fall when there is bad news. I prefer the normal bitcoin price movement. But it should be thankful for those of us who hold a lot of bitcoin. This can be profitable when we buy bitcoin 3 months ago. Hundreds of dollars we can take in each bitcoin. Japan is certainly one of the factors of rising bitcoin prices today. They do reconstruction and application of bitcoin legally in their country.

IF bitcoin will not be criminalized AND IF bitcoin does not get forked. Current prices are to be considered very low even.
But we all know either let alone bith IFs will happen only when pigs fly.

i don't think you understand that who is buying now is indeed an average joe and can't give a shit about hard fork, he/she don't even know what and hard fork is

all the new investors are probably japanese, and australian are coming too, if other people see a spike like that they will jump into the train without thinking

the dump done because of the fear of the fork was only done by insider manipulators, that want to buy cheap coins, every time you see a dump in bitcoin is because of that

all dump are fake here, the only way bitcoin will go is up in the end, the intrinsic design for bitcoin allow for a deflationary nature no matter what the other say or think

imo that affects a lot the price of btc the same if theres a bad news. The demand will obviously get high because of new investors or new people that will join the btc community.

@Amph the hardfork will cause complete chaos on the network, on the exchanges, whole vats of politics and emotions will be opened up and all of it will cause bitcoin to become the next shitcoin. And it will happen in a flash basically.


It doesn't matter if they know or care about the hardfork, they will care when the house of cards comes falling down.

I agree with AMPH, But the rise is too rapid right now. We will see a small correction soon, What i think is we will hit around $2000 mark and then a correction will happen, Dropping price down to around $1600 stablish, But its all speculation. We may see even higher.


As for kwukduck if bitcoin is destined to be doomed, Why are you here? Don't you have something better to do with your time? Or are you one of those guys who lost shit load of money because of poor decision? 

then pigs must be flying right now, all over the world because bitcoin is being Legalized as a legit currency in many countries, initiated by Japan and followed by a lot of other big countries. and the IFs seems to be happening as we speak.

2 huge countries in one place: www.cnbc.com/2017/04/12/bitcoin-price-rises-japan-russia-regulation.html
our Aussie friends are hard at work too: https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1

I can imagine that bitcoin price correlates to bitcoin acceptance.
When the acceptance goes up quickly in many countries, the price follows in a similar speed.
That can be a real explanation to what we are seeing these days.
And the price does not even have to drop back again necessarily.
The possibilities that come alonge with the acceptance will stay, so might the price.

Overvalued? Maybe, maybe not. Apparently there are a significant number of people who think it is undervalued otherwise they wouldn't be buying and the price wouldn't be rising.

As far as Japan, it's been speculated in articles that 260,000+ business could be accepting bitcoin BEFORE the start of summer. https://www.cryptocoinsnews.com/bitcoin-accepted-260000-stores-japan/

Imagine how many more Japan business will be accepting bitcoin by the end of this year and beyond. Could be bitcoin is actually undervalued.

In any case, Bitcoin doesn't care if it's overvalued or undervalued. Bitcoin is just going to bitcoin as it always does.

Watching the bitcoinwisdom from bitstamp to another exchange site i notice that many active traders out there that are pushing up the price. and the others also selling or dumping their bitcoin its too active not the same as before that there is slow movement of trading inside the chart but not its too active to exchange and trading..
I thinking that there are still people are buying more bitcoins these days that i think very hard to think that the price will go down.
Watch out for 2013 maybe it will be the same as 2013  when the price was increase too much look at the chart today..



Hoping that it will not happen in the future.. but i think its impossible to happen that bitcoin will be shitcoin.. since we already use it and many company use it..
Hardfork means making clone of bitcoin? or fake bitcoin? i think it will be different code for sure it will not accept by blockchain..

I just recall what people did in early 2013. So, no surprises on you were being wrong with your speculations.

I am 100% sure bitcoin in not overvalued as exchanges are witnessing enough volume to support these rapid surges. I guess we are heading toward $10k levels before end of this year and when considering $10k levels this $1800 does not seem obviously overpriced.

Japan's legalization is just a trigger and new investors from around the globe must be the reason. In my view it is highly expected one. When new investments rushing into bitcoins and new ATH will keep on convincing people to get into bitcoins.

2013: price went up from $200 to $1200 in a month which is a 500% increase in one month.

equivalent of the same scenario in 2017 means going up the same percentage of 500% or at least near that percent.

from $1240 (exactly one month ago) up 500% means we should currently be at $7,440 which we obviously are far off!
going up from current $1850 up 500% in next month means reaching $11,100 until end of June.

and lets not forget that we are only up 72% total in this year and bitcoin has been rising 150% to 200% in previous years without good news such as adoption of a big country such as Japan, Russia, Australia, Canada, India, China,... as a currency.

Of course positive news from Japan makes the price to grow. But I didn't expected that bitcoin will come close to 2000$ point so fast. With such temps of growth now we must be all regret about our past withdraws.

Regarding from the latest news of bitcoin, and it can still be considered undervalued. AU try to make a consideration about bitcoin like what was happening with japan earlier.

That is it. Japan adoption has given a lot of motivation for other countries to try to give a legalsm for bitcoin.

That means the government news can be a sentiment data for the rise of bitcoin.

The phase is very fast and I didn't expect that this is going to happen that fast too but it happened and it's very good for us.

I don't think that the price is overvalued now because it is going to keep on moving to higher price.

Good news and everything about the adoption of bitcoin is the reason why the price is moving fast.

Currently, I do believe that the price is overbought (MAX 20%). But in current circumstances it's more or less 'normal' since people are buying in panic (act now think later stuff). The price might go up further from this point, but I seriously believe that the $2000 level will form a heavy resistance barrier. In that regard, I believe that a relatively strong correction is imminent very soon. I am waiting for this shake-out to happen, because it will allow coins from weak hands to flow into stronger hands.

This time there is no over valuation in the bitcoin price. The reason is that bitcoin now doesn't have any of the external force pushing the price forward, same as that China does in the past which caused a pumping and dumping took place when the fake volume issue.

currently price may be higher than it could have been and there is a big chance of some correction time up ahead when price drops and stays low.

but i strongly disagree with the notion of calling bitcoin price "overvalued". it is actually undervalued.
there is still a very small amount of bitcoin available for the whole world, the same 21 million which about less than 16 million is available considering all the lost coins. and with all the adoption and new investors it means price should be a lot more than this. $1827 seems as stupid as the 2009 $10 sounds

I agree with this, price of bitcoin can`t be overvalued. Price of bitcoin depends mostly from supporters, demand and supply, we know that with this big players can manipulate, but some things happened that making the price grow, adoption on massive level, Japan have more then 130 million citizens and their government give them blessing to use bitcoin now. Time will tell the truth about bitcoin, here we are supporters and users and we have good opinion about bitcoin future, but other people doesn`t share our believes. Look at this article, The Chinese author of this article is Ou Chengxiao, often nicknamed”Ou Guru” for his successful investment in real estate, he claims that bitcoin price is 1000 times overvalued:
http://news.8btc.com/the-price-of-your-bitcoin-is-1000-times-overvalued (http://news.8btc.com/the-price-of-your-bitcoin-is-1000-times-overvalued)

Is it possible that whales are pumping the price right now to keep it high and they will sell at some point?

I would say it's undervalued. If people are giving a market capitalization of $ 7 billion to Ripple, Bitcoin should be in the $ 70 billion market capitalization or more.

Yes the price has reached much higher than what it was predicted to be.Its a little bit scary.But we could definitely say that bitcoin price is not manipulated this time.developments in japan and Australia may be one of the main reason for this price increase.

It's not whales. Whales can't pump the price up. It's the HODLers. If everybody just HODLed the price would go to infinity.

As I've repeteadly been saying, price we see is unrealistic and almost completely based on speculations. News from Japan are hugely overestimated. Besides that, nothing really big happened to justify this rally. And we still have pretty serious technical issues that must be solved.

As (mostly) a hodler, I just hope that the incoming crash correction won't be too hard.

It was quite unexpected that bitcoin's price rose so high, we broke one record after another.
Market is exhausted by that amazing bull run, and price correction is the natural next step.

I don't think that bitcoin is overvalued in general, on the contrary it is still undervalued by several thousands dollar IMO.

Reasons behind present high price: Japan accepted BTC as a legal form of payment and the SECs announcement that COIN ETF will get another chance.

what do you mean by overvalued ? well the bitcoin's price will never be overvalued it just simply goes higher ;D by the way, it's really great that another country has legalized bitcoin and became a reason of a huge increase but probably that's not the only things that affected the bitcoin's price . anyway, I hope that there are more country who would do the same thing as japan did so that it would help bitcoin to become more recognized .

Whales will always be there to pump the price. But if you are saying that they are manipulating it and selling it at later time to profit is highly unlikely. Again this is not 2013, this is not a bubble. This are legit investors coming from Japan market. Trading volumes also indicate that Japan is leading the way. If whales want to sell, then they can do it with minimal impact to the price. Because we have a country now that is supporting the bitcoin ecosystem. And even if whale sells, new investor will be showing up because bitcoin price has been more stable and trusted. Australia, China, India, Switzerland are also showing good interest to legalized bitcoin as well. So no, manipulation of price of bitcoin now is very difficult specially for the whales.

And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...

It is close again to $1,700 I don't worry at all, this is just a normal movement of bitcoin's price. And I guess it's getting ready for a real bubble and with that bubble it's very possible that the price can reach to $5k up to $10k and after that price increase then the bubble will be popped very soon.

It maybe a bubble but the chances to get burst will be very less when its appreciations happens along with mass adoptions.

Yes, not just the same traders and investors keep buying bitcoins but new investors from around the globe are rushing into bitcoin as new peaks of bitcoin makes them interested to move their investments from stocks and gold into bitcoins.

As long as bitcoin is being covered for massive rally and for impressive market cap, I guess this will keep on happening and hence there will be no chances for the bubble to pop up. But I agree there would be more possibilities for corrections time to time as its is just part of any trading, those fluctuations are just another entry point for new investors.

The real question will be asked if we near the $2000 wall $1827 is unlikely to be the peak in my opinion.
The question today is if it is overpriced for this date in time which I believe is possible, in the long run though maybe not mass adoption and growth will validate the price given longer periods of time but at this point in time perhaps it is.

if everyone holds then price stays stable!
you have to buy bitcoin for the price to go up and you have to sell it for it to come down. and in the past years people have been buying more and more bitcoin, and although many of them are just holders but many more are new people with new money coming in to buy more bitcoin.

This is very serious claim, and i would like to hear some explanation if possible. I also think this price is high and pumped by the news, and will correct but i think won't go under 1k. Why 500$?
I believe those statements are over exaggerated, whatever happens price will correct and will continue to rise.
Too many people believe in BTC!

Yes that's the right term for it, on what's happening right now is a correction. Thanks for clarifying and clearing it to me. It's like the balance of the economy and as well as the price of bitcoin. I'm loving it more this way when seeing after a price increase and then there would be some price fall, because we'll expect another increase very soon.

Currently you can say that the price includes a fairly decent premium, but that obviously only matters in the short term. If you look at the complete picture, then even $2000 will be nothing more than peanuts.

If you're purely long term minded as I am, then just sit back and enjoy seeing your coins grow in value throughout the years. At this point there is literally nothing that can stop Bitcoin from growing further, don't forget that.

It all started with ETH pumping from $6.5 up to $50 2 months ago if you all remember? at first some of the Bitcoin's marketcap literally moved into ETH which was obvious and every one called it out, then it went back to Bitcoin and the pump of other coins such as DASH, Ripple and other centralized alts began.

Who could've thought doge hitting 100 satoshis, ridiculous right?

And as always while they will pump later comes the dump, I don't know when we learn?

Though if you put some missing parts of the puzzle together you'll see LTC is still undervalued but I don't recommend buying rather mining it is better and smarter move because the price will naturally increase after difficulty does.

What ever happens Bitcoin will have the required support from community, after all, community is what really matters.

Price is moving in with good phase. This is sure due to the fluctuations and the value recovery even after minor price drops. Previously it went as down as $1650, and now it has once again crossed $1800. If the price is overvalued or faked the drop could have continued without developing resistance.

i think that a lot of factors came into play for bitcoins value going over $1800.00, Japan Government starting to accept bitcoin, the influence that japans example is setting for many other countries, the fact that it is becoming harder to be skeptical of bitcoin around the world to commoners so to speak. as the information about bitcoin circulates more and more those who want to say bitcoin is nothing but a scam are running out of reasons not to be called out for spreading false info, not taking the time to learn even the base knowledge of bitcoin such as what is bitcoin and what are its most commonly known benefits and its endgame goal? the more people realize just how legitimate bitcoin is they will start to come into the bitcoin market. when i first heard about bitcoin it was already 2012 - 2013 at the time and all the news channels were saying was that you should beware of bitcoin because it was used in a scam on craigslist trying to steal money from people by telling them one of the relatives were in danger or that they owed funds to the state and that they had to pay in btc. to this day i dont actually know any other bitcoiners irl and only hear positive things about bitcoin from doing my own research and looking into it and then what i come across on this forum. im still waiting hopefully for the " just do what the media says" people around me will soon start to realize i was right about bitcoin not being a scam all along. Anyways back to the topic of the thread. Bitcoin is still gaining momentum in the world view. eventually even the most hardened of the willfully ignorant will realize that bitcoin is a much more legit currency then whatever there traditional fiat currency will ever be. when that happens bitcoin value will be far more then what is seen today. So yes You are correct that the japanese legalization of bitcoin is responsible for $1800.00 being crossed, but no your also incorrect in thinking that is the only reason.