Bitcoin Forum

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

Agree with your views.
Price will still surge in July but last week of July, prices will bottom out due to the possible August 1 fork.
People need to buy during that dip and price will go back up again.
I see btc at 4-5k at yearend

the market is moving as it should, all the FUD you see around the web is from kids who wish to magnify the effects of the drop to get more of cheap coins.
otherwise it was a nice little correction that needed to happen in order to keep the market healthy and strong instead of always rising and entering a dangerous bubble.
right now the buy support is back with much strength and this can also be because of the news about the recent development in the scaling front.

I noticed two important things when I logged in to my BTC-e account today. Bitcoin was up by around 5%, and Ether was down by 5%. The market cap dominance for BTC has increased from 37% to 39% (I hope very soon it will achieve 50%, and within a couple of months it may reach 80%). This is the beginning of the end of altcoin bubble. All these inflated balloons are going to burst, once SegWig2x is activated.

The past few days have been rather boring, with no real big moves in terms of the price, compared to the weeks that came before it. It is nice to see that the price is moving slightly upwards again, but this time I hope at a sustainable and a slower pace. This way, the price would not be subject to too much swings up and down very often.

that's just the start. very soon more ICO owners will want to sell their funds they have received in their ICO sells and we are talking about a couple of million dollars for each of them not just small amounts!
and when that happens all the money will crash ETH and will come back to bitcoin and lead to higher rise.

Boring ? Probably you must be an active trader, I'm not actively trading bitcoin and hence not finding anything different. When bitcoin prices are trading stable, I do find altcoins trading are easier to make easy profits. Usually bitcoin prices are remaining stable just before getting into another big rally. I am expecting another big wave to get start by this week.

We can expect always new ATH to happen repeatedly. Because we are in waves which might last till reaching million dollars, so breaking ATH again and again may happen more frequently.

there is a lot of money coming in, some say it is because of all the altcoins going bust and dumping like hell some say it is the Segwit effect.
i say it is first SegWit that caused the rise then signaled all the altcoin pumpers to end their pumps and make their exits then the dumps in altcoins started and the money came back in.

Lot of good news is coming into bitcoin starting from the legalized adoption from Countries all around the world to the consensus reaching more than 80%, also more people have started to learn more about bitcoin and related activities to make a better earning as well for other needs starting from investing to gambling and other illegal business needs.

I personally think that part of the reason for btc surging is that ether is falling. The Ether network is "congested", in other words they have full blocks too, and thei 24 hour transactions are not much different from bitcoin's. This means they arn't the coin that will replace btc because they can't handle volume - hence eth is selling off and btc is gaining.

Ether is nothing to do with the bitcoin price surges and you cannot make it as the reasons why bitcoin price now rises again. It's all a matter of increase of bitcoin buying demand as, just like the previous rise and fall of price sell rises and that's why price also lowered down. Both eth and bitcoin has their own buying and selling demand as traders of crypto market always do dumps of selling their holdings at exchange markets of bitcoin to fiat cash. After all demand climbs up after several weeks of uncertainty, we are now in a rising mode, and hopefully more will be having a buying demand.

With all the good news for BTC, I suppose BTC price is targeting a new ATH soon after a dip last week. We are expecting $3000+ this time and then the price may decrease a bit when people sell BTC to take profits.

No. Bitcoin has been going up due to the constant flow of increasing demand that comes basically from all over the world. In reality, Ether is still hovering around insanely high levels, which is why I don't see any point in why you relate the tiny price fall of Ether to Bitcoin's increasing price. Bitcoin has always been jumping up and down regardless of what other shitcoins are doing.

Can you tell that to all the noobs that keep complaining about Bitcoin and start praising alts as result?

Ether has never had any chance in that regard, not sure why you bring that up.

Finally, we are moving back up again. But the greatest news is that 80% segwit2x consensus. We will finally get rid of this high tx fees and the long tx confirmation time. I am wondering how high this surge will go?

Well we are in a wait and see but if all things turn out as they seem to be indicating 
We should be in for a nice rally.

Problem here is that no matter how good things are looking to finally end these scaling debates, I will only believe it until activation becomes reality. From that point it doesn't hurt to remain somewhat conservative in this matter. Other than that, it seems that not a lot people are aware of SegWit2X as they still seem to focus on what might happen at the first of August....

Yes,if price dip happens during july last,people should make use of that opportunity and buy as much bitcoins as they can since we could not expect such a price fall in the near future.Bitcoin would cross $4000 by this year end.

Well that is why it is a forward looking statement, whether it will be all sunshine and daisies or a giant turd at the end of the day will only become clearer the closer we are to approaching that date. At least right now the clouds do not seem to be shifting on the horizon although like the weather things can change in the forecast.

Looks like their FUD didnt work.
As I have thought this will just be simple waves like anything before.
Too much drama for other who just experienced a $200 fall. That is not even called a fall in terms of bitcoin. That is just a wave. It would just be scary if it takes thousands of dollars.

There might be some changes but only a slight one, I still see it flat and not a sudden surge up or down. Seeing Bitcoin behaving like this where movements is like its limited makes me think that something is going to happen like a sudden crash but I hope I'm wrong. Having Australia and India joining the pack of Countries where Bitcoin is regulated is a good sign.

I don't think it is ever possible in respect to such events

It is like getting immune to a headshot. That said, I certainly agree the Bitcoin has become much more resilient to attacks like we saw in early 2017 by the Chinese authorities and various rumors predicting its demise in the nearest future. Nevertheless, as soon as prices begin rising dramatically, some influential dude inevitably comes out and says something which sends the price deep south. Last time it was Jihan (and a few previous times as well) threatening to hard fork Bitcoin in a month's time. It kinda seems that market should now prepare itself in advance since it is certain that there should be further rounds of escalation rising around Bitcoin

The markets are definitely going to retry to hit $3000 before any sort of adjustments comes through.

If the price gets sort of just "stuck" there at $2950, and not break the magical $3000 mark then I wouldn't be surprised at all if the price is extremely negatively affected by this news. Although the difference between $2950 or $2970 which is the ATH i think and $3000 is just a few dollars, it is the difference between having major news outlets covering bitcoin and a lot of new people being able to know about bitcoin, and not.

I would expect by the end of the month bitcoin either be a) Having $3000 as the new floor or b) Crash down to $2400-2500, just stablizing there.

1st August is a date taht a lot of people are exaggerating. TBH if the fork goes well there will probably be another wave of pumps because people don't have the fear of having a chain split in their heads anymore, or even if there was to be a chain split they can buy into the respective tokens with all their balance instead of having two separate ones.

Either way, i think it is extremely likely that we're oging to see a level just under or just over $3000 by 1st August.

Long term wise i believe that bitcoin will scale smoothly. This is just a very small point on the history of bitcoin for the future to come, there will be more debates in the future, obviously. So don't worry too much, hold if you want, sell a bit if you're worried.

There is no doubt about the fact that bitcoin is being getting immune from various news as this and the direction of price is mostly  determined by majority of the participants in the market which is me and you that we not allow news to influence us which at the end of the day will not live to the expectations of the initial paparazzi that greeted the arrival of such news. SegWit will be activated to make us have more seamless transactions and not to change our positions.

Looks like we're bull flagging...

hopefully we'll get some price action this weekend!  :o

The SegWit news are creating this positive aura around Bitcoin. Litecoin is also doing great. It's possible both will gain 10% before the end of Summer.
Just don't forget that when everybody is getting excited it can end bed. The majority is rarely correct when predicting the market.

Yes, the market will try to hit that magical number $3000. But we don't know how long can we get there. Right now we are fluctuating in the $2600-$2700 the last days of so. Maybe this is indicative that it may take long before we get to $3000. We will get the eventually and hope that we can sustained that price. I'm just hoping that there would be no FUD again otherwise the price dip and we are back to $2400-$2500 again. Also, we have to wait and see how Australia will impact the price in July 1, before preparing for the Aug 1 Segwit2x activation.

This is certainly true for saturated markets

In these markets the majority of traders is invariably set to lose in the end since, first, amount of money in the market (the pie to be shared) remains more or less the same, and, second, most traders can't grab even a tiny share of the pie simply because all the pie will be taken by and shared between those who have indisputable advantage before these ordinary traders, i.e. insiders, exchanges, arbitrageurs, and their likes. But Bitcoin is nowhere near that even if it essentially remains a zero-sum or zero-sun (no light at the end of the tunnel) game. As long as it expands while its price rises due to this expansion (i.e. the pie itself grows), you can safely buy and hold, and you will proved right most of the time

Actually, you may be on to something there. Even if half of all these ETH-based ICOs actually progress onto their development stages, we've still got the offloaders who'll be looking to dump tokens. That's really going to drive BTC demand in the second half of 2017.

It not all about spreading FUD all the time,one thing everyone accept is that there is a certain uncertainty with the things that are going around and we have ,i really think we could see some movement in the price but can we see any big rally in both directions i really do not think so unless there is any major negative news coming out.

The resaon for the adjustment i think came aloncg with a lot of altcoin interest. I mean if you look at the coinmarketcap historical snapshots a week ago you see all the altcoins going up even though bitcoin is going down in fiat terms, which means that they are just absolutely shooting off the charts.

This is obviously not something that is sustainable. I like to think that when there are ICOs, money flow out of bitcoin, into altcoins such as ETH(most ICOs only accept ETH these days) to obtain the tokens that the guy is after.

I wouldn't be surprised at all if this new surge in price is caused by ethereum crashing. There is only this much money in cryptos, and if eth goes down, bitcoin goes up. It's sort of a 0 sum game. I wouldn't be surprised if ETH loses another 10 billion in market cap soon, boosting the bitcoin market cap to over $50 billion and therefore bitcoin will be over $3500.

Where is this surge mate? I think you need to see a doctor, price was much higher than this $2700 and we'll for sure see that again.

It's refreshing to see not even a major mining farm with a hefty hash power can devalue Bitcoin and even when they talk about split

Just to cause a chaos in markets and as a result other holders panic and sell then those fuckers going and buy them all just to sell

To other new people, this is a manipulation resistance muscles Bitcoin is forming around itself, surprisingly every time Chinese try to

Manipulate the price some mysterious force deploys a countermeasure for it and further pushes the price up.

When everybody is upbeat about the market, that readily translates to real market signal and it hardly goes wrong especially for assets like Bitcoin that relies heavily on demand and supply for direction. As many are of the view that $3000 level is by the corner, exactly so it shall turn out to be.

That pretty much shows how misinformed and misguided you are

Namely, misinformed and misguided about how little market cap means in real life. First, if Ethereum market cap loses 10 billion dollars, it doesn't mean that so many dollars had actually been received or retrieved by selling that many tokens. Further, whatever the real amount of dollars would be, it won't be suffice to change the Bitcoin market cap even by 1 billion dollars. If you don't understand why it is so (which you don't since otherwise you wouldn't be saying what you say), just accept that you got fooled by figures which have nothing to do with real market dynamics

$3000 may be around the corner, but for me, it looks like we may take long before breaking this price. I don't know if everybody is upbeat about the market translates to real market signals. I haven't seen bitcoin move that much in the past day. And now it's going down again after touching $2700.