Bitcoin Forum

Hello!
I tend to just read the forum and not to join in but there was a question I really wanted to answer so... Here I am!
What do you think about the Goldman Sachs prediction of a 4800$ top where all will collapse? Sounds like a biblical prophecy but well, they have been quite accurate about bitcoin so far.
We are getting close to the target so... What do you think will happen?

I was thinking that regardless of the prediction, maybe the 5000$ will work as a hardcore mental barrier... And pop the bubble.

So, what are your thoughts?


PS: Unfortunately I cannot paste the link as it says it is suspicious... but you can find it on CNBC

I don't know... while Goldman Sachs' s predictions were the responsible of the worst economical crisis of the last decade, john McAfee is a visionary who won many successful improbable bets in his life. I would take his prediction for more valuable.

True that... But 500k in 2 years seems too crazy to be true... On the other hand a mental barrier at 5k seems quite likely...

People have been saying the same about the $4000 mark, but so far there hasn't been any correction. At this point it's practically impossible to say anything about the exact top and direction.

It might be heading towards the $6000 mark too if the market gets bought up heavily in a very short time. I am glad that I am a hodler with enough coins in the pocket, and enough fiat aside to be put in action.

The thing is that it actually makes sense for the market to go through a correction, but on the other hand, it also makes sense to continue rushing up to break through newer all time high records.

#Patience

Ok, but his prediction is that bch will be $500k not btc. What do you think now?

I think a 6 trillion market cap for all crytpos is reasonable in the next few years. That is the market cap of all gold. Whether it's BTC, BCH, ETH or some new coin that leads the way is unclear. Although, my guess is BTC will continue around 50% market share. That would put us around 142k/coin.

$5000 seems to be a tough psychological barrier now; but we mustn't forget so was $4000. We crossed $4000 very easily and $5000 might meet the same fate, if there are no divisions or forks.

I think fundamental factors come more into play with such scenarios. I might be wrong but the missile launch over Japan yesterday could have moved Bitcoin over the $4500 barrier. Fundamental factors don't care about "psychological barriers" because that is technical jargon. If you have a big event that moves the market then all the technicals have to adjust. If you look at the chart Bitcoin is overdue for a big correction but then again it's Bitcoin and maybe new rules apply here and it is never really "overbought".

My point is: I have no idea. But I'd say there is a correction coming to $3XXX. And long-term I'm very bullish on Bitcoin.

That's the downside of it's increase. Whenever it increaae it gets too expensive for newbies to have some btc, same with the transaction fees, that's why risking sonetimes especially before seems worrhy now.

But  it's only $4.50 a mBTC !

I think its high to see this price for this following month but bitcoin is really unpredictable and the price are still continue to increase..
And i think it is impossible that we will see  a large drop happen with bitcoin since there are many bitcoin supporters that can support to invest more in bitcoin if there is a drop it can filling up again by others..
So for now we will see more increase this following month but possible around $4900 and november is my estimated time that 5k can be reach..

not long time bitcoin price can reach 5000 dollar
maybe next month september, bitcoin price can reach over 5000 dollar

about bitcoin price 500k dollar, iam not believe and imposible bitcoin price can reach 500k dollar,

I don't care about Goldman Sachs prediction of a 4800$ as the highest point before get corrected.
Normally, people tend to sell before bitcoin reach certain point such as $5000, so they thought it would be at $4800.
How about $5000? Bitcoin could reach it in few days later obviously, consider current Bulls run after segwit activated.
So, it is your choice to hold or take your part to create panic sell with goldman sachc to sell bitcoin, if they intend to.

Probably we will hit $5,000 in the first week mainstream media is starting to report bitcoin in a daily manner. People will rush to this goldmine

Indeed, bitcoin has reached new ATH $4650 and still persist above $4600 right now, and remember; segwit has just been activated few days ago.
Segwit is a big deal, we can send big amount of bitcoin and just pay low fees righ now, I am so happy about it.
It is a good scale solution, hopefully all of the exchanges and wallet platforms will support segwit transactions through P2SH addresses.
Then, the Bulls will run unstoppable to $5000 in this week.

It's really not my intention to spread panic or be part of it...
Just as a fellow hodler I need to vent out my anxiety   :D

And although I agree segwit is a big deal, I also think the big thing about bitcoin is its store of value. Now let's assume Goldman is correct - there is a correction that goes down 50%. Well - that would be enough to go have the same market cap as ETH (assuming eth doesnt blow with BC) - and at that point ETH can eat bitcoin alive...

I wonder if any of you thought about this and what you think could help having a good peace of mind (excluding stop loss - which I cant do ufortunately)

Maybe this is the best time that we can tell Goldman Sachs that not all of their predictions can come true. I don't believe that this entity is the best one that can ever predict the gloom and boom of Bitcoin as it is not really an expert on cryptocurrency and just came into the scene when they realized that Bitcoin is already unstoppable and not anymore a passing fad or a temporary trend.

There is no reason why Bitcoin would be collapsing soon. In fact, I believe that things are getting better everyday with Bitcoin and we already discounted what can happen come November and if ever there would be another fork there was already that precedent in BCH we can all look up to.

But then again, there would always be small corrections (some called them as small bubbles) and these are serving as buffer zones against the dreaded big bubble. Speculations are everywhere but if these speculations are still supported by strong fundamentals and a clear strong market demand then we have nothing big to worry about.

It should be a hundred.

Why everyone thinks that we are in a bubble? No, we aren't in a bubble right now it's just a normal economy and we had seen it progress with bitcoin. And that's why McAfee is visioning that we are going to see the price haven of bitcoin with his expectation. Goldman is trying to hide something for predicting that there is something that is about to happen whenever we reach $4,800.

I also agree that 5000 is a good candidate for this bubbles top traders need to be careful in this crazy run up and not get burned.

From price movements that lead to more heights than before, it seems likely that bitcoin prices will actually reach $5000 and even exceed it. On my knowledge, besides that many economists are also which their predictions it's always true, has predicted bitcoin prices that will continues to increasing over time despite accompanied by a slight decrease on price movement.

The bubble growth of Bitcoin do not breakdown soon because it just beginning in this year, why the whales want breakdown a hot trend like Bitcoin have monentum buying strongly everyday end soon?
So, the future Bitcoin reach to target of McAfee is possible, even higher than that target ::)

to be honest i don't  know who goldman sachs is but i don't think that bitcoin will getting collapse after touch price of 4800 dollar it will not be end of all moreover few hours ago bitcoin reaching more than 4600 dollar and it means only some point to touch 4800.  bitcoin touch that level with no instant ways but needs long process it will  always increasing the price and dont stop at 4800 dollar to starting to collapse.

First off welcome to the forum.


You have to understand the Goldman Sachs is a investment banking management firm that provides a wide range of financial services to its client. With that said, they are banking institution which we all hate that's why we all switch to bitcoin. So its no wonder that they will initially says good things about bitcoin then suddenly made a U-turn about it. Where are they when bitcoin was below $1000? No one cares about bitcoin then, but know they are really seeing bitcoin as a threat that's why they claiming that it will collapse.


If you have been here a few months ago, you will notice that we have a hard time getting the mental barrier of $3000. We touch is one, but then traders sell, but it didn't went all the way down but bitcoin recovered and very quickly. I speculate that it could happen when we breach $5000, some minor dip here and there but it will rebound and going strong as ever. And I don't think that this is a bubble. There are few gold investors that enter the market now that's why the price reach $4600. And I don't think that bitcoin will experience the 2013 bubble again. We have the full backing of a country now, so its unlikely, IMHO.

If there's a dump would be happen on bitcoins I think its normal since there are so many events of downfall occuring when price of bitcoins touched to its highest level but bitcoins also prove that the price will surge back after the dump delimna that's why 5000$ is pretty reachable for this time by the bitcoins itself.

Yeah, I would not be surprised. We just crossed the $4600 range, and the presence of Bitcoin in the news and increasing trading volume demonstrates a growing interest in Bitcoin.
I think the momentum is very good to make it happen, probably not now, but before the end of the year.

I disagreed with this prediction even common sense should tell us that bitcoin is not in the bubble yet and there is no sign what so ever that bitcoin will collapse in few days to come as we can see that $5000 is already in sight and maybe by this time next week! Are we saying bitcoin is coming to an end by this weekend? I will reither remain with McAfee than most of this prophet of doom.

we can hope that the price will increase and reach $5000 in next month because now the price is around $46xx and many people is trying to sell their bitcoin to make profit. if I see in bittrex btc chart, there is good moving from this month which we are see the price increase significant and if it is down, its not until the half of the line.

Goldman Sachs have been surprisingly accurate about bitcoin, i have my doubts about them but they seem to be right.

$5k is going to be a hard mental barrier for a lot of traders to break. Even though there is literally no difference if you think rationally between $4900 and $5000, you'll find that bitcoin will break $4900 much easier than it will $5000.

I would expect it to either not break $5k at all or break it slightly, before an adjustment that brings the bubble down. Trading is all about emotions, and in an bubble economy emotions can fuel the rise and fall of a bubble.

I expect bitcoin to pass mental $5000 barrier, goldman sachs might be accurate about their suggestions but I don't bitcoin is in bubble at all. People are coming for many long years to hold.

Not at all buddy. The cost of bitcoin is very very high now. It's around the price of 4600$ today. Now it's crossed another barrier which is 4500$.Now they speak about 5000$.It will also happen. If you want to get a huge profit in any business. Just inverse in bitcoin. Bitcoin is the one.

I dont see any news about Goldman Sachs telling bitcoin would go that way from this month except (below) which is from July 3, 2017.
Could you at least quote the news please if you cant post the link.
We better spread a good news which can be backed up. Not just words which could just lead to some dudes who will just believe what we say even if it is not true.

This is from CNBC. Searched it and this is all I found.

I doubt that $5k will be a real mental barrier, it will be broken but i think after it's been broken people will start to realize how ridiculous the bubble has become, and a lot of people will actually panic due to the price rising so much and potentially dumping some coins.

The fact is that it is extremely difficult to predict anything when the markets are moving so fast. I think that it is likely in the next month we see a price level of around $5000-5100 before an adjustment down to the early $4000s again.

This can't go on forever, just to let you know. Nothing is able to sustainably grow by even 0.5% per day, let alone having 10% rises per day as common.

It's very high caused by a lot of interest to buy bitcoin, and if halving will come in the future that gives a possibility for bitcoin touch $10000 in the future. Bitcoin is really good as gold in our real life. because the chart looks stagnant to increase anytime.

Well, i think that your prediction is fairly accurate. This pump cannot last forever and it has to end one way or another. This current pump is already much smaller than all the previous ones(only $300 rise in value compared to $1000~), and is met with major resistance as it neared $5k.

Therefore it's not illogical to assume that traders are going to see $5k as a major resistance themselves and potentially dump the coins as soon as it reached it. It could go a bit over but it should be in the general vicinity of $5k.

I simply don't think that bitcoin is going to climb much further this year...

the current price will not stop to increase. because bitcoin is a currency and a convincing investment value. many people think bitcoin is the future of the financial system in the world. so it's not a strange thing when bitcoin gets pumped. investors are very happy to take advantage of the bitcoin price movement. bitcoin prices will peak later and maybe we see it as a dream now.

I think at certain point the bull run will come to a halt. Maybe $5000 or $10000, but will definitely stop. And I don't think that we are in a bubble, maybe just investors flocking and stashing bitcoin because they really believed that it is a safe haven for investment which we all think are true.

I already read that article before, saying that it will be going to $4800 then crash about $2200 if I'm not mistaken. Well I don't think that there are really so called experts that can accurate see the movement, but definitely something that we need to observe and see if it comes true.

I don't believe in the existence of experts who can give correct predictions of the behavior of bitcoin. I think they all are funding different groups and their predictions only to carry out their orders. I suggest everyone to live by your wits and to trust no one.

I think we should trust our own intuition towards the price of bitcoin, but I think all of the things that OP and you are seeing, hearing, and reading towards the price of bitcoin are all just speculation it is not prediction it is just a speculation about the movement of bitcoin, you two can make an speculation of your own towards on what do you think might happen to the movement of bitcoin.

Yes. We have may read everything about bitcoin, but it is really up to the individual if he is going to believed on those people making bold prediction about the price. It is still up to our own judgement, because we all know that bitcoin is driven by market speculators. And maybe those experts have their own agenda on why they have predicted this price.

5000?  10000?  The only reality is that who is making profit have to cash it. It will happen, before or after.

 :o :o

That's not necessarily true for bitcoin. If it get mass adopted and widely accepted, you could just find easier to spend your bitcoin to directly buy things instead of using the obsolete fiat gate.

Bitcoin can be for the future what gold was for the past. It can be used as a storage of value and a mean of payment, and the lighting network will make possible to use it for every trivial instant payment.

It doesn't that Goldman Sachs will always be right with their prediction.
Accuracy is not a thing with bitcoin. They can make stories like this or could spread news like that but it will all end up to the users of bitcoin. If one group that holds a lot of this coin and sell it with a quitting mindset then it could fall down without us knowing it. It will be an instant fall.

Even just as a store of value, Bitcoin could be successful. Since it is deflationary, it's possible that it will just keep gaining value over time just as an investment. Any other uses would only add more value to it. I could see a scenario where Bitcoin was used to store money while other altcoins were used for financial transactions. Or Bitcoin could be used for large transactions and altcoins could be used for smaller transactions.

Today everyone is speculating the future price of Bitcoin or when it will collapse. Some experts have said that price will touch $10k this year, some said $7k, $6k and so on, some said price is bubble and will collapse when it will touch $4k, some said it will collapse after $4500. Now yet another one. All these so called experts are changing their prediction and not sticking to what they said, with days passing. Bitcoin has largely became unpredictable nowadays.

Bitcoin is so volatile, even the best experts can't predict it with 100% sure, they are always changing their opinions to fit better the moment Bitcoin is passing. I was sceptical about BTC hitting $5000 this year yet, but now I start believing it's possible because Bitcoin is being upgraded and the results are being very positive, confidence is growing from investors side and technology enthusiasts are coming even more to Bitcoin.

Yes that's what I can see too though I'm not an expert but why McAfee is giving such numbers and that's very high. I'm pretty sure that he is going to do something about it and he won't be breaking his words as whales are in the hype of making the price of bitcoin pump all the time. Let's expect that but we don't know when it will happen.

All great points :) I feel a lot better...
When you hear the stories about people selling after the 2013 crash you think they were crazy but living it on yourself is a different story... It is all fun and games when you know the outcome!

I'm gonna speculate here that we will see $10k per coin by the end of this year, probably by early December.

I'm also gonna speculate further that we will see a huge crash in January 2018, price will slide all the way down to $3-4k. It will be another 2-3 years before the price will recover.

By 2022, we will see $20k.

I think that the prophecy is just an iso that will not be a reality and will be missed in time, I think for $ 5000 it is very easy to see from year to year developments, and we can all prove it later when the forecast comes.

Please, where can I send a message to myself in the past "Buy Bitcoin, now!" ?

 ;D ;D

wow! One more ttime, Bitcoin reaches ALL TIME HIGH. I think its not so far to hit $5000 cap. Actually, last couple of months the performance of Bitcoin really impressive. I could not wait to see that price as there I have little investment.

I am confident and believe if prices increased continuously bitcoin it will happen the price above $5000 bitcoin can even reach $7000 on the numbers at the end of september, because currently only bitcoin has reached $4700. This must occur in bitcoin, therefore you must start from the investment now because it will make you a future that is more viable than ever..

Bitcoin price for sure will hit more than $5000. I believe it can reach more than that as the price right now is going stronger. I'm excited for the price may comes and at what price it will hit. Yes for those who have investment will have a bright future with a huge profit.

Yes and to see that price we don't have to wait till the end of the year as as it will be achieved before that as now the price is around $4700 so who knows may in next one or two weeks we will see the price of $5k and it hits there every early then we can expect huge price of bitcoins at the end of the year.

Yes, a new all time high has got recorded to the history of bitcoin. This keeps on changing in the upcoming years as more and more users get into it, as well more adoption happens in terms of banking as well other financial sectors that play a major role in the growth of the country's economy as well the world as a whole.

Do you have thought like me? In my opinion, Bitcoin after breakout $5,000 it will go to the moon and continue breakout other resistance price for kill shorter magin on market. Because, we also see this situation when the price of Bitcoin breakout $3,000 ;D

$5000 may be too low. Some advanced analysts using point and figure charts and Fibonacci extensions (https://bitcoinnewsmagazine.com/how-high-can-bitcoin-price-go/) call for a top from $5500 to $7000. You can just use RSI on a three day chart to pretty much call the top: when RSI is over 90 look out for an imminent correction. Right now RSI is 78 so the top seems a ways off:

https://bitcoinnewsmagazine.com/wp-content/uploads/2017/08/btcusdrsi-1.png

For bitcoin prices in the future we will predict that there will be a significant increase compared to the current prices. The slightly slower price movement does not mean that the bitcoin price will decrease. This is the price anomaly that often happens, bitcoin price is very difficult to predict. Any possibility could happen to bitcoin.

Just keep in mind that NO ONE nor NO GROUP can predict what will be the EXACT thing to happened in bitcoin especially it's price.

All in all that is considered as Speculation because it was just a prediction. If they have some close guesses in the past well so be it but can't be considered as reference in what will happened in bitcoin price.

It will popped or not and even the price won't reached $5,000 this time then that's it. What matters here is the resistance around that price range which is more interesting rather than going back again to our considered now as low price.

Even that considered low price isn't worthy to be called low, because if it went back to lets say at $2000 it's still an opportunity for us now specially those long time holders who haven't check the current price update. That's possible that it will happen many will sell their coins in the future, so we can expect more thrilling days of bitcoin prior we will be hitting at the top of $5000. We must still be calm and always observe the current price trend and be smart to have your best decisions whether you hold or sell.

Goldman Sachs should have no moral authority to predict future crises as they failed to predict the 2008 crisis and are a fundamental part of the current exploitative economic system that has a lot of interest in destroying people's credibility in bitcoin.

By the way, I have an interesting Bank of America-Merril Lynch document dated December 2013 where they claimed that the maximum value that bitcoin could reach in history would be $ 1,300, and after that investing in bitcoins would be a big risk, what you think? Sound familiar?

So... I have decided to hold - I think that even with a 30% retrace, I am still good since I entered at ~2k
But still, I think this time is a bit different than the previous times. Competition was mostly meh back in the days.
Now there is Ethereum and BCH

Ethereum is just half BC cap so I can see a 'lead' switch happening, particularly given their September release. It was already very close to surpass BC in capitalization...
BCH... I always thought it is a crapcoin, but if BC lowers the price per block with higher difficulty, BCH can really have a go at biting BC's bum.

Just my thoughts.

And yes... fair point that Goldman Sachs & Merrill Lynch failed in the past... But I am pretty sure they bought in the meantime a good stake of coins and can manipulate the markets to make sure their predictions are indeed correct

@Kemarit thanks for the welcome! XD

Yeah as we hit again a new all time high, surely more people will be get more attracted to invest to boost their financial status. This will be again the talk of the town as scaling debate will arise again. The $5000 is within reach by our hands and this is a great beginning to start the month. Hope our christmas will be more merrier.

If the bitcoin hit the $5000 it was a new record in cryto currency history. However we never know when bitcoin reach the $5000, because if we review the fluctuation of bitcoin now seems a little bit increasing will happen.

[quote author=rhamzter link=topic=2133359.msg21397578#msg21397578
If the bitcoin hit the $5000 it was a new record in cryto currency history. However we never know when bitcoin reach the $5000, because if we review the fluctuation of bitcoin now seems a little bit increasing will happen.
[/quote]

The day this will happen is closer than where we were last week its also possible that a set back is witnessed but what is happening now is a testimony to the fact that its possible to get to see $5000 and even surpass it and there are several indices to back this up even by forecasters and the traders.

Reaching the $5000 level is nothing more than a statistical/psychological achievement. Bitcoin has been demolishing basically every high by a huge distance, and from there our next target will be the $6000 level. Funny thing is that a jump to $10,000 looks miles and miles away, while in reality it's 'just' an increase of around 100%. Currently, the price has gone up like 400%, so from there to add another 100% might not look like much, but it will turn out to be a very difficult target. If we do happen to reach that level, then we can properly consider that to be an achievement.

It doesn't look more as a bubble bursting level but rather is a barrier which if gets broken, may throw bitcoins over 2x its current value because nobody is concerned about 5k or no one is talking about any bubbles here but all they are looking for is a $10k bitcoin.

Now it's the next barrier.At first they speak about 2500$,next they talk about 3000$.After that they talk about the peak of 3500$.Then 4000.After Achieved all the barrier that talking about 4500$.After  also they talk about 5000$.Now the price is Around 4835$.In two or three days they will achieved 5000$.

I would not trust him because of that, winning the lottery is almost impossible yet every day a person wins the lottery, there are so many traders in the world that some will beat the law of averages for the simple sheer numbers of traders, in conclusion he may just be as lucky as those lottery winners and he does not even know it and thinks that is because of his personal skill that he has achieved his success.

Oh my god bitcoin price as of now september 2 is already 4900 dollars and still continue so you can invest now your money. But investonly you can affors to lose. I hope this day the price of bitcoin will hit 5k dollars so we can make a lot of profit. I think the price of bitcoin before end of this year possible to reach 7k to 8k dollars. More bitcoin that you have more chances to earn more.

It's really close to $5000 I think it can actually reach $6000 before the end of this year

...aaaaand Goldman Sachs was right :(
Looks like we are heading towards a 20% correction or so.

Just to balance the market they need to correct some things including the high price of bitcoin. From 5000$ went back to 4500$ that might be the correct price of bitcoin within this month.

Same barrier we had on 1000$, you are newbie and maybe you wasn`t here to feel it, but you can find threads and comments from that time and you will see what I`m talking about. Bitcoin market fall down for couple billions and now price is going down. But the same way the money is going out we come to a point when it goes back in, billions of dollars move the price of bitcoin.


Who didn`t expect this to happen? But price will go up again and before new year many things can happen, I`m optimist when it comes to price of bitcoin. Price already went up a lot in past few months, little break couple more good news after will push price higher then ever before. Goldman was right now, short term prediction nothing more, after every peak there comes a dip most people here knows that, but predicting price in long term is much more harder.

Yep... Let's just hope it wont turn into a massacre due to the ICO regulations :(
I can assume many of the companies that now need to comply are cashing out - and I think it is also safe to assume that some of them converted their eth into bitcoins, hence the crash
Honestly, I am glad they are regulating the ICOs, as long as it doesn't turn out to be the same old manipulation and reduction of freedom of speech


Guilty as charged ;)


Haven't sold a single satoshi as of yet, infact, I'll be buying something soon... Still scared this ICO thing might become a big problem!

After all time high point, we've seen over than 15% drop in bitcoin. The price declined very sharply which worried most of us. I still think this is only a correction rather than a market crash. It will get better soon.

I mean I'm very confused between something what I'm not gonna say but my heart let me say that say that words because if you are talking about trust in a middle of bitcoin so you are mad. Bitcoin is 100% trusted currency around the world many people have invested and there lives become changed so what can we say about that?

Patience is the key my friend! In time all our dreams will be become true regardless of market correction and challenges. Bitcoin value will soon reach $10k not even $5k. 😁

The price went back to normal, bitcoin moves like that do not worry, I know that for some people losing 15% of their investment in a day may be too much but if you are going to keep belonging to the group of bitcoin investors then the only thing that I can recommend to you is to get used to it because volatility is not going to disappear in a long time.

Bitcoin price now in the market was fluctuate unpredictable, lastly the highest peak of bitcoin was around $4700 - $4800, but when bitcoin value fall down it remain into stable position. That's why I was bother regarding $5000 value of bitcoin, I think it is happen close to end of this year.

in my prediction price figures will be on $5000 bitcoin even more than that, maybe at the end of this month because the price of Bitcoin is already showing the number $4500 with the stable movement of the bitcoin growth greatly increased the more days I steadily grew. expect this would happen on a bitcoin which will give the rays of happiness at the end of this month

maybe at the last week of sep. Btc will reach more than $5k. August been a blast. No news yet on new countries that will try to implemen it so maybe it will took more months efore it pumps like it did in Aug.

exactly i think the price will go upto expectations but you just have to wait for the right time i think $5k is very small amount and it will take only few weeks to reach this level. i am just waiting for the price to reach 10k and above that and it will and i think bitcoin and ethereum both as a whole have more pottential then we are expecting.

The prediction of Goldman Sachs is quite right though because bitcoin really reaches the $4,800 mark and it even pop the $5,000 one and it suddenly drop s and it stabilize now with $4,500+ and this is a normal signs for market as it has experiencing the corrections.

Today price of bitcoin is already 4600 dollars and for sure it will continue to increase more in the future. So if you have extra money in your wallet you can invest that and for sure it will grow . I hope the price of bitcoin will back again to 5000 dollars . Everything is possible to happen in the price we dont know if the increase or decrease it depends on the demand on the market.

I would not count on that, I think bitcoin is going to move sideways for most of the rest of the year and I will not be surprised if the same happened for the next year, there is simply not enough money to keep pushing the price even higher, so the most important thing at the moment is to not let our emotions rule over us and sell because you see other coins performing better than bitcoin.

Although there are some other coins that have good prospects but I think bitcoin development is more likely when compared to new coins that do not yet have a good reputation in the crypto market.

but I'm sure bitcoin will be able to pass from the price of 5000 $ last week alone had touched $ 4600 price, so now we just wait because now it has started a lot of known people and the price is always up even though there are times down it is reasonable in the world of trading

You are keeping short term in mind. You should think about the long term gains too. It's possible that beyond just China many other countries will adopt bitcoin and use it as currency. Plus, the more that blockchain technology is being used, the more we see rises in the bitcoin prices. Long term, we can never tell what will happen.