Bitcoin Forum

Hey yo, check this out:

https://www.tradingview.com/chart/BLX/W5wwj74c-Bitcoin-Long-Term-Trend-Analysis-A-near-term-clue-BLX-Update/

We are not in a bubble unless we touch 20k$/piece in the near future!!! (like in 2-3 months) Spread the news!!

It is a healthy growth and a bull run. This also means if things get out of hand, 20k$ is near.

That analysis was made 11 days ago.

Now check my graph:

https://i.imgur.com/tkIRTTf.png

Hype is just starting! When it ends, 20k$$$$!!!

Updates:

Nothing can be taken for granted in this universe. Yes, speculation suggest that Bitcoin price will ht 20K soon, but then there are some other factors which can just hinder the steep rise. Afraid, if the Governments start to interfere in blockchain and take control one day.

We would be in bubble if we touch 50k to me. Bitcoin enemy are make fake price clash predictions on economic section. But I can till you that before the end of this month bitcoin is going to touch $3000 and we are still at the accumulation stage compared to what will happen in days to come.

I think this may happens by end of the year or not unless other country will pumped the price of bitcoin in to price of $5000 and surprize dumped will happen what do you think? I think there still dump will be encounter i don't even know when or what exact month it will happen if the bitcoin price touch $3000 time to sell my coins.

Not so fast, it's a very short period for such a rise. But crypto always surprises us, let's see what happens. I wonder when the capital invested in alts will come back to Bitcoin. The price will certainly rise significantly.

I don't think $20k is possible in this short term bull run. I am also quite sure that this is not just another bubble but whenever there is big pump many traders will start to pull out some profit that makes some correction. And I am actually waiting for that correction to buy more.

You don't get it. It is not about possibility. The dude who created this graph makes sense perfectly. Have you checked the graph?

20k$ of course doesn't make sense, that's what make it a BUBBLE yo! You don't believe 20k$ but you find bitcoin's pump from 1k$ to 3k$ perfectly logical?

1k$ was a bubble in 2013 and according to his algo 20k$ of next months (end of July) will have the same effect of 1k$ from 2013.

I'm telling you the ultimate sell move so you can collect you coins back from the bottom.

People can draw lines on a chart to create "technical indicators" of whatever type of price movement they want. I could draw a chart that suggests it will tank and looks just as convincing as this one. There is no doubt whatsoever that we are in, or at least entering, a bubble. Bitcoin hype is so high that it is impossible for it to not be the case that investors will overbuy it. It is inevitable. Any asset with this much hype and frenzy buying must necessarily form a bubble. It's just investor psychology. While bitcoin is becoming more valuable, it is not increasing in value nearly as fast as its price is rising. $20k would indicate an even greater exponential growth than we are seeing, and therefore an even bigger crash WHEN it does crash.

Why? Increasing global demand. Bitcoin is nothing more than a tiny dot right now. Just look at what this little bit of attention has done to the price.

Imagine how the market will look after several years of experiencing growth on a global level. I can definitely see the price reach $10,000 within 5 years, and $20,000 within 10 years.

Other than that, I don't really understand your point ~ why wouldn't there be any fiat left? $20,000 is just over 8 times the value of 1BTC right now.

Bit coin is something that you want to hold for the future. There is no doubt that bit coins price will continue rising with more and more institutions adopting bit coin.  Demand is only going to increase in the foreseeable future.

Ok lets say we are at the peak of that Bubble, whats the best way to preserve that Bitcoin value? Sell it to dollars? Or Buy altcoin? And what altcoin? Some say the peak of Bubble is 5K-10K. Where did you get that 20K?

Dollars. Bubble hits all the cryptos. Check eth/usd and btc/usd (biggest 2 cryptos) of the last 24H. They have exactly the same pattern. When a bubble starts to pop, all cryptos will have their fair share.

https://i.imgur.com/ObEHwtO.png


If you weren't a lazy shit poster you would have clicked the link i posted, examined it, and understood it, but instead, you post shit without even reading the first post in the thread.

Haha relax dude, dont call me shit.  And dont get mad, do you have menstration?
$20K sounds good. Your graph is kinda convincing. And theres a possibility it might happen very soon.

True. I think what we have here is just a speculation based on the past events, but it won't always work that way, it is not about only getting up. It would be more convincing if we can solve it mathematically (formula of appreciation, engineering economics), but because there are so many factors to consider (like people's change of heart in decisions that is mathematically impossible to solve), we just have a speculation. Well my prediction on BTC in the next two years will be 10k $ but still 20k might be in the four years or so. Everyone became so excited in the last price hike that lead to them that BTC will grow up to 1million$. Still time can only tell.

Here's how you know that there is a bubble in crypto, when you go to a party and everyone is takling about how much money they are making in cryptocurrencies, then sell all of your coins and go on vacation for a few months. Just like the stock market bubble when everyone was making so much money in stocks, then it crashed and they all lost their money. Or the housing bubble when strippers and plumbers had 3 houses each and were making sooo much money, when this happens there is no one left to buy. Nobody I know
has any idea about crypto, except that they heard about bitcoin. This market is currently valued at 68 Billion dollars worldwide, by comparison the stock markets worldwide total 70 Trillion dollars. If crypto rises to even 1% of stocks it would be hundreds of billions of dollars, this market has a lot of room to run over the next few years.

Bitcoins price reached an all-time high of over $2,500 on the 25th of May, a very promising price and many people are still holding their BTC because they thought that it will reach 5000$ to 20000$. This is highly probable because of the increased demand and the adoption of some countries to bitcoins making it legally accepted as a way of payment, that means people will start buying it especially in the first world countries to have a more secure transactions (medium and cash to buy is not really a problem in the first world). 20000 is coming of course but I think in the next 3 years because as we can see the price is going low again (up and down Inna scale of more than 20%). What we can do right now is work hard to be able to earn more BTC, the. We will be at ease when the price go to 1 million $.

It is very easy to draw some lines in a chart to justify our high expectations, but the technical analysis tools are still too imprecise to foresee the long-term behavior of markets that using the same chart some other analyst can predict an imminent crash.

Because out of this poor analysis, I can't see realistic arguments to think that this current rally is really sustainable, and sufficiently strong to send the bitcoin price to $20,000 in next days.

Thats really looks like too off the record hype. Cant imaging bitcoins rising that high in such short period of time. Though bitcoin had pump of double throughout the night but it doesn't mean it will rise all the way upto 20K $ by any means. There are so many protocols that developers still solving and that is restricting bitcoins being raised to that much value. I think we have to wait for long until that day comes. Be patient don't make fuzz so soon. Lol.

So we should wait one more day and then the journey starts right? I'm not stupid to buy Bitcoin at $20,000 while I could potentially mine for much cheaper prices.

Checkout the halving schedules and estimate the average difficulty increases over time, compare the past difficulty with the past prices in the market.

Calculate how much will the price be, I've done it already and it's not $20K. you are admitting if price goes up that much then it's a bubble so why should we enter in such dangerous market?

I'd say it's safer if we just start buying now while price is low and sell when bubble started to grow up to $5K+ levels.

i hope this doesn't happen because the fall will monstrous and the hangover will last for what feels like forever. too many people would get burned for it to be looked back on as anything other than a major setback.

I agree with that. The price double or tripe every year is fine. If it rises too fast, it will damage the bitcoin after the bubble.

How is that different than what i say? You are basically saying the same thing as me and you don't agree with it.  :D

I am not saying 20k$ is what we should aim for. If you examined the graph and read the notes beneath it, you would have understood that white line means "safe", yellow means "below safe, super cheap", pink means "get ready" 8), red means "moon".

You can't always find logic in bitcoin markets. Some times they act crazy for no reason.

If we get through safely, by 2020/June we should be at 7-8k$. If we add some user hype, +10k$ is possible. (pink line) Something went wrong? 5k$ at worst. Graph already tells you the safe lines. I am talking about the possible extraordinary (means it looks impossible right now) events like "immediate consensus over segwit", something like that can easily drive the prices above 10k$ in a few days.

Get ready.

All is nice but $20k is a bit to much.

I doubt bitcoin will reach $20k in 2017 or even 2018, most possibly not even in 2019 but who knows. I think max for this year is $10k, but most likely $4-8k. 

We are ofcourse talking about the ATH. After it will be reach price wil slowly started declining to Fibonacci point.

This speculation seems logical to me. I can clearly comprehend the trend on the graph and it really justifies all of its claims. I admit that $20,000 is a bit much but hey, the graph never lies, right? If ever that $20,000 is not achieved this year, it would be possible for next year. But as I observe and analyze the graph, this year is the most probable year that this bubble will occur. I'll be surely watching this.  8) ::)

I recently talked to my friend and he said that BTC is not viable investing option because it is a bubble.
What about these types of accusation that BTC is nothing more than one big bubble because "it grew too fast"?
Can you give solid argument to prove that bitcoin price is nothing but an effect of organic growth?

There are certain things that an investor will hold back and if you are new to bitcoin you would think twice before investing since the price of bitcoin is really huge and it all depends on the purchasing power you have ,the amount of money you are able to risk depends upon how much money you are able to gain in the future,the risk factor is huge,as long as we see some solid investments the price keeps on moving high.

I think the expectations of $20k is very optimistic and speculative even with that chart. We can also expect that the price of bitcoin will go down to find another bottom ($1000 approximately) and touch again yellow band. I think the chance of this $1000 scenario is higher than 20k scenario at this chart.

Governments may try to take control over bitcoin but it is a completely different matter whether they are going to be successful or not, I think they are going to try to slow adoption so they can figure out what they can do against bitcoin because at the time they seems clueless about it.

bitcoin is never reach 20k dollar if only 2-3 month
maybe 5 year again after halving bitcoin price can reach 5000 - 10k dollar, not 20k dollar

That is right, and it did not even touch $3000 yet, we are still so far away. How can you say that it will reach $20K when the time it reaches $2500 it dump because of the price correction? We can't make such prediction yet, that price is so exaggerated.

Let me rephrase the title of this thread:

We are still not in a bubble! Bubble incoming!

If the price goes up to $20k then that literally would be the definition of a Bubble. Bitcoin's intrinsic value has not increased by more than 40x (or even anything remotely close to that) in the span of a few months, which is what a price of $20k would represent. $20k per bitcoin would just be irresponsible and dangerous.

Bitcoin is prone to bubble.....

I don't think we are at the end of a bubble but we have definitely entered one already, 20k$ can only be reached if bitcoin goes full bubble mode beyond a normal bursting point. It would also be unhealthy for the stability and usability of the coin cause the crash that would follow would wreck many peoples savings.

Maybe it's better for us to stop thinking those price since its pretty huge men and speculators what I've seen are only predicting for 5000$ price only and 20000$ is to much but who knows if the time price would bubble up hardly then surely all of us will gonna be happy for this mark reach. But i can't imagine on what would be the counter effect on this one since their are certain history that bitcoin had a hard crash before.

That's the problem and the reason I don't want a 20k$ price to be reached in the near future. The crash would just be devastating, its much better for the bitcoin price to follow its normal growth trend with a relatively normal level of volatility to it. This gives time for the market to accept it as the normal price and also for the technical side to have enough time to solve scaling problems.

People for once should stop talking about bubbles. Bitcoin has soared because of the intense spike of demand that we experienced in the last months.

Bitcoin can basically reach any price without it being a bubble. It all comes down to how the demand will increase in the coming years.

Let me put it this way ~ if miners didn't prevent SegWit from activating, we by now would have made an attempt to eath through the $4000 mark. Don't forget that.

imho some major event is needed for 20k in a small time period. I dont know what event that would be...
On a longer timescale 20k isnt out of the question though.

I can't believe every single person in this topic just didn't get the main idea I stated in the OP. Maybe it was my fault, i just couldn't describe it.

Main Idea 1: The price what we have now is far from being a bubble. So it is perfectly safe to buy between 1.5k$-2.5k$range.

Main Idea 2: The recent pump (2.8k$) we had has a chance to trigger a major buy mania (take a look at the pink line again)  which will have a similar effect what we had with Gox and that bubble will have the top price of 20k$ if it happens in the next 3-4 months. This expectation is not certainty. It is a possibility.

The dude who created this assumes that bitcoin is following a pattern "bull, hype, bear," and all he does is wondering about if we will be in a hype phase again.

Main Idea 3: He already predicts that bitcoin will be at 5k$ price range in 2020 if nothing extreme happens.

Please post after you examine the graph and the notes beneath it.

1. So you are trying to say that a rise in price of 1,200% in 2 years is not a bubble? Has the intrinsic value of bitcoin risen by 1,200%? (hint: the answer is no) As a result, this is indisputably a bubble. It is absolutely not "safe" to buy bitcoin now, or really any time.

2. The recent pump to $2.8k WAS a buying mania! That was absolutely insane, billions were added and removed to the bitcoin market in a single day. That being said, there is still room for it to hit new highs before it crashes down to an appropriate and reasonable price far below where it is now.

3. This is reasonable, but it definitely will be a bumpy ride there.

That was a correction which happened from 200$ to 1k$. It did perfect safe in that timeline. (wut was i sayin lol) 1k$ was bubble in 2013 but 2 years passed since then. What happened is a massive correction.

Again, pink line shows the max. normal price. The calculation is made by adding the time value of bitcoin. Anything over the pink line can trigger a bubble.

White line is average normal price.

That's a good explanation. What happened by the year 2013 is a bubble, because the price moves were very fast and everything got over in a very short time span. Now the correction phase and experts say it as a second wave where the first happened on 2013 and by the years to come can expect several such waves and third wave is expected to happen by the starting of 2018.

Read my answer to your first question. That is the definition of a bubble. you are drawing arbitrary lines on a chart to fit your narrative and ignoring the facts of bitcoin's fundamentals, which all point to a clear bubble. 2013 was a bubble and so is this.

That is so impossible,bitcoin will not reached that price in 2-3 months from now . Even some speculators said that the price will bubble it doesnt mean that bitcoin will reached $20k.

Ok.

I'll bite.




The movement from 200$ to 1500$-2200$ was an expected ride. Bitcoin was as low as 200$ and it slowly climbed up and up and up, recovered the losses and when it was doing that, it constantly got close to that pink line but never be able to pass through it. Check my more detailed graph below:

It tried to get through white line at 1, got hammered down. It tried it at 2 in late 2015, failed again. Last year in June bitcoin actually came close to the pink line but it failed again. Any time bitcoin gets close to that pink line there is a chance for a massive buy mania to happen.

And finally, recent at 5, it broke the line and the little mania got triggered. But it is only the preview of the real mania. 2.800$ wasn't a mania. It was the preview. Just like happened between 2013-2014. Patterns are incredibly alike.

I marked them for you. If you can't find any information from the graph down there, you can leave this thread and move on your life.

https://i.imgur.com/jcSXkzE.png



*It is absolutely not "safe" to buy bitcoin now, or really any time.:

http://www.oftwominds.com/photos2017/BTC-projected.png
http://www.zerohedge.com/news/2017-06-02/projecting-price-bitcoin

$20000 is not possible without some major shift. It would require both ETF approval and segwit + hardfork being adopted without contention. Both of these things I think are very unlikely and as much as I want and wish bitcoin will rise so much I have to be realistic and accept its going to take much longer to achieve such a price.

all it needs is more buyers than sellers. nothing else. when a bull market is on news has little effect. it works the other way too. bitcoin had incredible developments in 2014 but the price kept on grinding down.

No matter how good a person is in reading charts, even explaining all the lines, indicators or whatever method they applied, still it's not a strong basis for price to reach the $20,000, and I doubt even at $10,000 it will struggle.

Bitcoin price can't always be predict if it's all about trading lines, those lines shows the past movement and "possible" moves in the future. What is the cause of that movement must consider. The obvious thing to happen while bitcoin is progressing, there will be some issues that will meet in the road. Whether it's good or bad, it will surely give impact to the price, donwtrend or uptrend.

Exactly. People are more busy searching for the trigger for a move instead of figuring out the real reason. Lemmings (but it pays stock peddlers mightily  ;D).

The mining difficulty would have to rise through the roof for the price to hit $20,000. Miners would be doubling their hash power if the price were to rise so fast. In my opinion we will languish below 5k for the next year or two.

None who sat through 2013 can call what we've seen so far this year a bubble. The growth until now has been BTC finding it's natural price level.

WE ARE ON THE VERGE OF MAINSTREAM ADOPTION! I would not be at all surprised if we hit 20 K this year.

More exchanges in more countries. Yeah, not yet the bubble.

Your post is so typical. You should find some posts from 2013 and previous years and you'll see people were writing the same exact thing, but with different numbers.
If instead of $20000 and 10000 you put 2000 and 1000, that would place your post somewhere in the early 2013.

Of course, events will impact prices, nothing new, but $10000 is very probable with the current state of affairs. 

A speculator does not need to be right all the times. Bitcoin may jump into any prices levels just due to some big investments. So, one single person also could make big differences in bitcoin prices. Imagine what will happen if some corporate start paying their employees in bitcoins. So, I too believe bitcoin may reach $20k levels too but the time frame will be a mystery.

That is not something to push price of bitcoin. I expect that paying wages in bitcoin would have minimal impact on price of BTC.
I am sure that some, if not most of employees would refuse bitcoin anyway. We recently had big company accept bitcoin:
Fidelity Investments, integrated with Coinbase, started to mine mines Bitcoin and accepted Bitcoin at its cafeteria.

You say this as if a movement from $200 to $1500-$2200 in 2 years is normal. This is ridiculously fast growth for any asset over a very short period of time. And what do you mean by saying it was an "expected ride"?


We can argue about the definition of mania all day but the point is that there was a snowball effect that pushed the price up to $2800. I agree that this was not the peak and we will see higher prices soon, but nowhere near $20k.




The problem with your chart is the same problem with most technical analysis charts I see here... your line doesn't mean anything. You drew a line on the picture to fit your narrative. The line doesn't have any significance. It's not even straight or describable by a simple function... it's a kind of complicated and arbitrary line, looks more like a graph of natural log than anything.

The fact that the price passed your pink line doesn't mean anything. There is no special barrier at that point just because you drew a line there. You can stretch and skew a line and graph however you want to make it look like the price will do anything.

But furthermore, you still fail to acknowledge my point that the price of bitcoin has risen FAR faster than its intrinsic value. Bitcoin hasn't intrinsically become 1200% more valuable in the past 2 years. Sure there are a few more places that it can be spent, but that doesn't mean it is worth 1200% more. This is the only point that matters, not your graph. The value of bitcoin is far below the current price, regardless of what technical indicators may or may not suggest that the price will do.

you can have the exact same amount of intrinsic value, though there isn't much or any, and still have the price soar down to one thing and one thing only - more people want in. that's it. and there are many, many, many more people who will want in in the future.

That's the point I'm making. If the price soars and the value doesn't, you create this big disparity that cannot sustain itself forever. Like I mentioned earlier, it's like stretching a rubber band. Everything must come down to reality eventually, or grow into its price. With bitcoin, it's likely to be a combination of both but weighted more heavily on the coming down to reality side.

Well, you are clearly having hard time to understand what bitcoin is about, what it has enabled, how useful it is, what potential it has and so on. I can't have a debate with someone like you about bitcoin anyway because anything i say will lead to a dead end on your side.

Just one question. How would you price bitcoin right now, if you were able to name a price freely?

100$?

1000$?

10k$?

100k$?

500k$?

1million$?

Just pick one. If you can't pick a price from the list above, then you should just stay quiet.

What are you talking about? How is your comment here at all related to what you quoted? I completely understand bitcoin's potential and I've been following it for many years now, since well before the last bubble. I don't see how you can say that everything you say leads to a dead end on my side when I have rebutted every point you've made. You aren't making any sense here.

I'm going to answer your question by changing it to a better question, because the one you asked is on the right track but you phrased it poorly. You should really be asking what I think the market cap for bitcoin should be, which is still a difficult question to answer, but I will give it a shot. For the record though, I do not need to be able to pinpoint a value for an asset in order to tell you that it is over or under valued. That is not how finance works. You seem to have a pretty simplistic view of all of this.

Anyway, Bitcoin's market cap is currently roughly $40 billion. When Bitcoin's price skyrocketed in 2013, its market cap went from roughly $1 billion to $12 billion, and finally settled around $3.5 billion, where it stayed the most stable Bitcoin has remained over a 9 month period in a while. It pretty much stayed flat, as a currency should. I would argue that this is where the intrinsic value of bitcoin was at that time - around $250 or so per coin. This means that the events which pushed bitcoin up by 12x in 2013 really reflected only a 3.5x increase in bitcoin's value. The implication is that the bitcoin market likes to push the price up by about 3.43x (12 / 3.5) the amount that the value goes up by.

This now begs the question, where is the top of the current bubble? This is hard to say, so let's work with a range - let's say it is somewhere between $4,000 and $8,000. This means that the market cap would be between roughly $67 billion and $134 billion at the peak, and would imply an increase of somewhere between 5.6 and 11.2 times, assuming we mark the start of the bubble where the peak of the 2013 bubble was ($12 billion market cap). To find where bitcoin should be, we just divide these numbers by 3.43 (the amount by which investors tend to overbuy bitcoin) and multiply them by the market cap. The result is a range of $19.6 billion to $39.2 billion, which means the price of bitcoin should currently be between roughly $1,190 and $2,380.

So yeah that's a really big range, but it's hard to be precise. It is highly likely that bitcoin will fall on the lower end of that range when it finally settles. The higher end would only be likely if we see the price shoot up to around $8,000 in the next couple months.

BOTTOM LINE:

Anyway just to simplify all of this for you, in case you didn't bother to read it or you just dismissed it because you didn't understand it, we calculated that investors overestimated the increase in value of bitcoin by about 3.43 during the 2013 bubble. The degree to which investors overestimate the increase in value is not likely to be different this time. As a result, it is highly unlikely that the real value of bitcoin is greater than $2400, and more likely that it is closer to $1200-$1500 ish.

Who said it's a bubble? The normal popularity of bitcoin is increasing and I agree with this
To make it possible the price of bitcoin reach $20k soon we need more investors that will generate profit to the old investors and the cycle goes one.

This altcoin economy is so new to the global economy that it is difficult to predict how far the price can go, but taking into account that this is just beginning and the market is still small compared to other markets, there is still a lot of room for expansion so a scenario of $20,000 does not seem so impossible in the medium term.

It is true that there is a lot of irrationality in pushing the price so high in such a short period of time, but it is well known that in every market there is always a high dose of emotionality, and this altcoin market will never be the exception because there are real human beings behind every buy or sell decision.

Since BTC stalls at 300 for a while, I'm sure that it will be over 12k before 2018.  Each time I tought someting like that, BTC got much higher than I tought, so 20k before 2018 is reallity in my mind.  I may sell some fraction around 20k to buy back on the correction to 10k.. then it may stall again for a year or two in the 8k to 12k range, rinse and repeat !

Remember, there will never be more than 21 millions of those.. kinda scarce stuff, compared to human count !

More investors are required to make the price reach big. In reality we can expect more Countries participation into bitcoin. Already Japan has made its entry and now Australia is expected to come into the bitcoin acceptance. Also more experienced people of cryptocurrencies have predicted that the price will go high as $50000. Hope this comes to reality.

I believe more number of investors is easily possible than the need of big investors  ;)
When bitcoin is attaining big price levels, we can be sure that more people will be interested for adopting bitcoins for any reasons similarly we can expect countries to join the club of where Japan is already enjoying.

I just want to second the possibilities of $50k, yes definitely it is simply possible over the course of time as new high prices will be supporting bringing new investors.

Yes scarcity will make bitcoin's price to reach it's high potential. And in that way, it's going to be hard to get bitcoin and each satoshi will be having good value to all of us. So I will keep on holding because I believe that the price of bitcoin will be reach this amount but not for now maybe for the next years.

Looking at certain historical metrics, it seems we are not even close to hysteric bubble proportions. But 2017 is still young....  8)

https://i.imgur.com/p6y0c26.png

There is no real scarcity when it comes to Bitcoin. People shouldn't focus on the coin cap of 21 million -- don't forget that 1 BTC is the same as 100,000,000 satoshi's. If you switch to mBTC, or even Bits, you'll understand that there are enough coins/units left in the market to nurse the demand for many many more years. By the time Bitcoin reaches an insane amount as value, exchanges will switch mBTC by default, while it's just an optional change right now.

Actually anything less than 0.001 (maybe even 0.01) is nearly worthless right now because the only option you can pass them to another person is the off chain one. The transaction fees became insanely high.

I just checked on electrum and if i had to send 0.001btc from my wallet, i had to pay 76ksatoshi as a fee. (default lowest, not manually set) That's fucking insane and makes that transaction completely useless.

There isn't enough bitcoins for everyone, till we get segwit activated.  8)

These needed investors will be provided by countries that will accept Bitcoin as money.  We got one that produces lots of investors and that is Japan, next would probably Australia, just a month from now we can see another boost on bitcoin adoption.  Though I thought Russia would be next in line but sad they are thinking to create their own digital currency but well I am positive on this since this will also give demand to bitcoin.

Well majority mostly focused with whole BTC and thanks for reminding me anyway that there is still divided portion for bitcoin and there are the smaller units. That only means that every single bits by that time will be mostly important. And if that happens also, the fees will be a burden to us as if we don't want those fees soon.

20k is really lot , it's not yoir fault either many people and investors have started expecting too much from bitcoin when it isn't the correct time. I'm not saying bitcoin can never reach 20k it surely has a really good potential on reaching 20k but now is surely not that time for it. A target like 4k would surely sound better

With Sidechains, $20 / milibitcoin (100 000 Satoshis) is very low price.

I disagree, you are assuming that the value of bitcoin is what the market is deciding, bitcoin even at the current price is undervalued, this is nothing but a correction of that, bitcoin is going to be worth a lot more than that because it is worth it, this is not a bubble.

Yea you are right more investors means more money and rise of the price. But how do you think new investors will invest their money in bitcoin? Of course, if new money enters to the bitcoin market, the price obviously will rise. And when the price is relatively high... no new investors and no money entry....

We need the increase of use of bitcoin and also popularity. This will bring the increase of bitcoin's preciousness and then rise of the price.

I'll refer you to my last comment on page 3. Also I'm not sure where you got the idea that I'm saying the value of bitcoin is what the market is deciding... I've been saying the exact opposite of that. I've been saying that the market is assigning a price to bitcoin that absolutely does not reflect its value. If you think bitcoin is worth so much, then please explain why?

The rise in price is not a correction, in fact it is the opposite. The fall we saw from $2800 to ~$2200 was a minor, partial correction. Once again, refer to my last comment on page 3 for an explanation why.

It's a lot and it's in the middle of exaggerated and possible speculation. Once we are able to be good at $5k or above that will be the start of 5 digit valued virtual soon. I will keep on holding no matter what but I will still have time to use it for sometime.

I so wish that bitcoin will reach 20k usd, but I think it wont happen anytime soon.  Probably it needs another 2 years or halving before it happens.  I am very positive because Japan and Australia already accepted bitcoin and I believe more country will follow their lead which can result to Bitcoin FEVER and price will certainly increase exponentially.

Good point. Price is being so exaggerated ( low price and high price ), and leaded to panic selling. Yeah we get the point that BTC is being popular and the people who uses it is increasing tremendously. What I'm trying to say is I hope before we reach this prices (10K to 1 million), I'm hoping that we fixed some really expensive fees and a week pending of transactions. Economists predicted that BTC price will be at least 10k dollars in the next few years which I think is true, but 20k is a little off. Well it's a digital world so whatever may happen will happen.

Well, anyone thinking this is a bubble is mistaken, bitcoin is having real growth in price that is derived from its utility, the bad economic shape most world economies have and also that people are finally starting to believe in bitcoin, it seems people are finally accepting the fact bitcoin is not going to disappear overnight and they are going to lose all their money.

Every price move in bitcoin is happening with certain reason behind it, so there is nothing to worry about the price increase. In the past by the year 2013 the price increase to higher level was noted as an bubble based on specific price fluctuations and the number of users involved into it. Right now everything has changed a lot.

That is right. Today's bitcoin is different from a few years ago. When the SegWit or SegWit2X is activated, the price will rise again.

It is happening.

https://i.imgur.com/A0tVZTl.png

Update:

https://www.imageupload.co.uk/images/2017/10/30/q1.png

Glad to knowing this, seen by the development of people close to bitcoin or people who are more interested to bitcoin as well as some countries that are more to accept bitcoin as an approved currency, I basically believe.. that $20k will certainly be reached. Surely with this, I can be sure with certainty that bitcoin investors will obviously achieve the high profits if really be patient on keep holding within a certain period until the price will arrive at $20k.

Getting closer boois! :D

Great time to bump this, I hope your original prediction bears fruition. I think it’s safe to say we’ll all be VERY happy the day we see 20k per coin.

Well the amount predicted is too far from this year maybe by the end of next year 2018, its will be on that range of price, we need to hold now.

Well, I think his prediction will be true someday, I am sure of this. By maybe one year or two, we will touch this kind of prices, but maybe more. For this reason I will try to start saving as much bitcoins as I can.

From reddit:
https://i.redd.it/3e3vmgjaigzz.jpg

Today's topic: https://www.reddit.com/r/Bitcoin/comments/7eo9rq/interesting_to_see_how_accurate_this_2014_price/

It seems somebody made a similar simulation in 2014 too!

Btw that guess is not mine originally. I linked the original source in my op. I just think that it is a very high possibility to become real.

Wow this is crazy! I would say the graph has been very accurate!
What is the logic behind the curve?

It's created by finding the curve that best fits the price history.

Understood. Clear and beautiful explanation. I study statistics myself, makes perfect sense.

https://i.imgur.com/uLaRHWw.gif

Over $9000 boois!

Next stage is Super Saiyan and much more till Ultra Instinct  ;D

This curve could be a good indication of the long-term trend, I agree - if everything plays out well and Bitcoin can conserve its leadership and solve its scalability problems.

However, it doesn't predict short term and mid term movements. Only look at the years 2015 and 2016 - in these years, the real price curve was deeply below the curve of this prediction. So in any moment we could see a crash like in 2013 or 2014 - and the curve would be still valid. It could happen even today, but it's also possible that the rise sustains itself a bit more.

So the interesting question is the intermediate movement that started in late 2014 and lasted until now - how high would it go? I would look for a top between $9700 - just before the 10K resistance - and 12,5K. Nothing is impossible, but 20K are a bit "too good to be true" ...

20k is nothing. By 2021 we will be talking about $100k

I was talking about the current mid-term upmove after the low of ~150$ in late 2014/early 2015, not about 2021 ;D

2021, in my opinion, is too far away, we can't know what will happen then. Or did you predict the 2014/15 bear market in 2011?

We can't say anything about future, maybe at 2021 we will hit $200k or BTC down =)). So this is only prediction. I think we will reach $20k at the mid 2018. Then stop at few months. With 10-20% increasing on every months. We can believe this is real price. Not only guessing.

I wonder how can mathematics predict its price. Of course using probability we can predict "but prediction" is the same for "not really sure". And how can fibonacci point point its price?
Because the market is not predictable, there are millions of decisions that is happening there that even formulas can't predict that easily. ??? ???

Bitcoin never seems to be a bubble, the growth it has experienced from the beginning has faced fluctuations and steep falls. But, the same has once again got lifted back. If those were bubbles the price recovery won't take place in a short or within stipulated time period. Maybe the ongoing growth will take us to $20000.

Well, i would say that there is bitcoin bubble if the price reached $100,000 this month of November since this post was on month of May. We are all expecting for the ongoing price which is $10,000 and is not too far to the new record $9,700 which indicates that there is a possibilities that it will reach $10,000 by the end of the year.

everyone wants to jump in the train before it is late.

most people even do not care about the blockchain or using bitcoin in real life, block sizes, fees, approval times etc.

the only potential obstacles are governments. we don't know how they will act in the future.

unless they start dictating their rules, yeah bitcoin will arise and pass $20k.

It is not impossible that bitcoin will rise $20,000 but the question is when will it happen? For now, some of us are predicting that it will reach $10,000 by the end of year or even at the first month of this coming year 2018. There will be a fluctuating value of bitcoins in future. We cannot deny the fact that some people doesn't even know about bitcoins or some  people just heard about it but doesn't even know how to deal with it.

Bitcoin is not a guess game and yes 2021 is very far we must live in present so that we can manage our money in good way and as my thinking is working in 2021 world will switch to the digital money overall and cash will not be used that may be contradict to the flat believers but seeing the progress of bitcoin this statement seems true to me and if it will not happen then price will surely be in between 100k-200k$.

11k$.

 9 more left :D

Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee :D

https://i.imgur.com/swsJEpu.png

$20k on cex.io

https://i.imgur.com/XUZE9qO.png

We did it!

Only if -last in line- Bearstamp reaches $20k, the fat lady will have sung.