Bitcoin Forum

Bitcoin is considered to be in a “purgatory” period, as research conducted by cryptocurrency advisor Fundstrat shows. It also maintains a year-end target of $20,000 for Bitcoin. The best option we have in the wake of this 40 percent recession is to patiently wait, Tomas Lee reports.

“The overhang from regulatory risk is generally keeping investors sidelined. However, we see positive catalysts for Bitcoin later in 2018, including the clarification of regulatory hurdles," - Fundstrat analysts including Robert Sluymer wrote in the note

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/experts-predict-bitcoin-price-will-go-up/

https://coinidol.com/upload/resize_cache/iblock/2b0/900_900_1/2b060f5ad6dcaf8f1c9c8d6a19d7ca20.jpg

It is not a 40 percent recession. Bitcoin's price has dropped from $20,000 to less than $7,000 - that is a whopping 65% decline. Right now, the dumb money seems to be leaving. When people are scarred this badly, they won't come back into Bitcoin that quickly. So, the tripling of Bitcoin's price to $20,000 in the next 8 months seems to be very optimistic.

On the other hand I think that in the case of uptrend, people will forget about the downtrend very fast. in my mind this is not so far-fetched.
It is clear that the Bull market will not return so fast but after a period of relative stability e will enter a new bull cycle.

That might or might not happen by the end of year . People are just so panicking right now seeing their money getting dumped and all the panic is creating some major sell off across the market cap . People are just not getting convinces by the method of holding and waiting even though it is the best way to protect yourself from getting any kind of loss.

they (the experts) are back, I'm surprised that this time they have not made forecasts of more than $ 20,000 by the end of the year, it was very hard to see them forecast $20,000 by the end of the year, once we've reached this value ... so that means the experts are being cautious in their predictions because they know that regulation and banks are pulling the price down and unfortunately the banks are one of the great enemies that we will have to fight for years.

Technically you're right, but the price should never have reached the $20,000 level last year. It was nothing more than an insane bull run representing people's greed and fomo. If we just went up more slowly, and reached $7000 today for the first ever time, the market would be extremely happy celebrating this achievement, while currently the sentiment isn't positive at all. It's pretty ironic how things can feel bad for people, while the reality is that we are still almost 700% up from last year. On the other hand, this correction is perfect, because it shows the get rich quick noobs that the price can also go down hard. Seriously, who buys at neat $20,000 levels and still believes that there is more room for growth? It's mind boggling....

The forecast for the bitcoine price by the end of this year at $ 20,000 seems already very cautious against the background of the previous forecast from the same Lee, who earlier said that by the end of the year, bitcoin would cost about $ 30,000-35,000. The current drop and treading on the spot for already three months has very much corrected the price of the crypto currency for this year. In addition, this may not be all trouble. Do not forget that Mt. Gox from Tokyo is going to throw out for sale its 180,000 bitcoins. Then the rate of the crypto currency may again fall for a long time.

Experts say this.....Experts say that......

I've never known so many "experts" be completely wrong over the last 6 years.

Experts made many projections. They called different figures – 20 000, 30 000, and even 50 000… the point is that 20 000 – is not such a fantastic price, but no one call the reason of possible growth..!

I am also as optimistic as these so called experts but I believe end of 2018 is too short. This could take longer than 8 months and also we will get to see much emphasis on the benefits of blockchain technology in the future than just cryptocurrencies.

There are have been wide spread of predictions and speculations about the price of bitcoin some experts
like Tom Lee who had predicted all sorts of values some speculates $50,000 while some predicted $20,000 e.t.c  my questions  what are the criteria used by these so called experts to predict the price of btc $20K at the end of 2018?
Did they consider any upcoming negative FUDS in term of regulations and other anti-btc coming in
from  some countries? If they (experts) can educate us how they came into conclusion their predictions for better.

The same experts were predicting 40-50k$ for bitcoin this year, now it's only 20k and only by the end of the year. I'm too sceptical now about all those expert's predictions, bitcoin is too unpredictable. I set my own targets to the price and that is my only course that I'm going to believe and follow.

There certainly may be catalysts - lightning widespread, potential ETFs, regulatory clarity, more uses, etc - by the end of the year which will increase interest, however predicting when is the issue.  The halvings have been catalysts and we are almost half way to the next one, sometime around Spring 2020 (May?) (depending on hash rate of course). 

The experts have no more insight than people who have been around here though for a while.  They will guess and hope to be right.

The 20000 is very little to be the target. I can't get used to the fact that now the price is lower than in December 2017. I'm used to constantly going forward and for me, raising prices to $ 20,000 is a way back. You can think of me as an idiot, but there's nothing I can do about it. That's why it's gonna be a bad year for me.

It was also very optimistic in October 2015 when it traded for 240 USD. People were laughing when someone came and said it's going to be worth 100 USD again. And guess what, a month later it was worth 500 USD. In a month it doubled its value! Tripling it in 8 months is really not impossible.

I think we've officially entered the bear market now, and it will probably last for a while, at least a year, maybe a year and a half, and in this scenario I don't see the price going to 20k. It will sit betweet $4,000 and $10,000 until the next big rally will start. But of course anything can happen, no one predicted that it will reach 20k recently, so maybe the bear market will be short, but I think it's unlikely.

Apparently, the ability to insert silly animal words like "bearish", "bullish", or "whale" into every sentence clasifies one as an expert...... :D ;)

I do not trust the opinion of various experts. You can find a million reasons that will say that bitcoin will cost $ 20,000 but you can find the same million reasons that will say that the price of bitcoin will strive to zero. Who to believe? The answer no one. Everybody lies. Every expert wants to show their mind but it reminds me of roulette. 50% of experts will guess and will brag about it. Another 50% will not guess and will wait for the next chance to declare themselves.

Some experts claim that Bitcoin will be gone till the end of there year =D there are too many experts

I'm not so sure this is just an optimistic prediction. I completely agree with you, "the dumb money is getting out" and they are scared as hell of bitcoin, and probably won't enter the market anytime soon. Or at least they will not be the ones taking BTC price back to $20k or higher.

On the other hand, institutional money is still watching bitcoin, and as soon as regulation gets stable and bitcoin leaves the grey area, they might be willing to enter the market. Also don't forget that this will probably be the year where one of the long awaited solutions for the scalability issues gets up and running. Talking about the LN here, and we actually already have it on the mainnet as most people know, and we just need to wait for services to start adopting it, so that it gets available for the common user.

Once regulation gets done, and LN starts running at full force, we might see big investors coming into the market, because they should see the  potential BTC has. Once that happens, it will not be dumb money entering the market, so we should see another big run, and this time, since it will be investments being made based on strong fundamentals, it will be hard for it to leave again. So $20k is definitely achievable.

Mainstream financial analysts might be fixated on Bitcoin’s so-called “death cross” and what it might mean for the flagship cryptocurrency moving forward, but Abra CEO Bill Barhydt believes that another rally is just around the corner.
Source: https://www.ccn.com/all-hell-will-break-loose-abra-ceo-predicts-bitcoin-boom-will-return-this-year/the

I'm sure, that experts don’t want to lie, they just do not go into the root of the matter, and make their conclusions and arguments by one pattern. Everything is too much superficial ..

I am really hoping that Bitcoin will be rising soon but am not blind to the negative outlook of the market right now. I guess all of these things are part of the growing up pains for Bitcoin. Just like any other market, when the overall sentiment is negative the value of anything will really go down. Right now, there are no big money coming in as we witnessed towards the end of 2017...this year the whole cryptocurrency really suffers.

 :D :D :D :D :D :D :D  Brilliant!!