Bitcoin Forum

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

https://i.imgur.com/nNP7slj.jpg

That is a personal Technical Analysis(TA).
Every one of us can do plotted on the chart price and begin the analysis. Sometimes we have seen the accurate result and sometimes it is very far from the fact. So, I won't tell you now what will happen next to the Bitcoin price. Let's wait that the time will tell what will happen to the bitcoin price either pump or dump below the correct price now. I believed in unpredictable price movement of bitcoin and the whole crypto as well. There will be a new ATH for sure and make bitcoin price pump at $600k as you wish.

$600k is still a dream for us bitcoin supporters and users.Just accept the fact that its even hard for bitcoin to reach $50k why would someone assume that it may push up to $600k? thats impossible in any means for now aim for the low high point then climb your way up dont talk things that yet to come

You are not kidding me, you just push it to $600K? That is a powerful dream, I am not sure when this is going to happen, maybe we should just concentrate first on adoption, then we can speak of this type of price growth. 

You can freely remove Libra from the equation, it won't be launching next year, and as things stand now, that may never happen. I see such charts many times, and they accurately show the past showing us that Bitcoin follows a particular pattern. The question always arises whether the same things can be expected to happen again in the future.

Date 25, May 2020 is possible date of halving for Bitcoin, but it may happen before this date because it is not possible to calculate precisely the time for next 210 000 blocks. The chart is showing that the price of Bitcoin can reach $600k+, but sometimes in 2022.

Bitcoin has all the predispositions for such price, but we still need to be realistic and realize that it will take time to get there. I can just say that most people would be happy if the price of Bitcoin reaches $100 000 in next 3-4 years.

Bitcoin has dropped lately. It has just started to recover. In such periods the ones preaching an even bigger drop (the FUDers) are the more vocal ones.
If Bitcoin will have a sustained growth for a while, the dreamers will kick in, telling about 500k, 1M and maybe even bigger numbers.

So right now your numbers are "a blasphemy"  :D ;D
Imho yes, 600k is not an unrealistic number. The only problem I see is the timing, that could be wrong. And I think that I know why too: Libra may have no effect at all.

600k dollars per BTC? Who needed this so high price? Can't even imagine who win when price be 100k $ or more. If bitcoin reach so high price I think it would be the end of crypto. Big sharks with big money will kill cryptocurrency just sell, a small part of deposit. For this high price need very big capitalization like forex.

There are no perfect technical analysis. Technical analysis of the chart always gives us possibilities but not the accurate events that will occur in bitcoin. Such as my reading on the chart few months ago I was telling my friends that there will be no more bearish movement that will exceed 2k$ drop but recently something happened and I did not expect that such things will occur. Chart reading is good since it will give us the idea of what will happen to the market but in the end it will only gives us probability and not the actual future results.

Bitcoin to reach 600 thousand is a fantastic amount and in my opinion it is not possible, what we see in the bitcoin market to reach a price of $ 20,000 or $ 25,000 is difficult and it is a price that is likely or predictable that will happen but it misses.
and bitcoin to reach the highest price will definitely happen but to reach 600 thousand I think that's impossible.

I will think about money, money, and money ;D

That will be the biggest money for people who own so much bitcoin, and they only need to sell 1-10 bitcoin, then they will get many things they want. I won't be surprised if many rich people show up in public and say they can get wealthy because of bitcoin. I am sure in that time, many people who don't know about bitcoin will amaze, and they will hunt bitcoin.

And back to the chart. There is no clue what will happen in the next month or in the December 2019, but if bitcoin can rise and back to the $9k, $10k, or even can break $12k, then that is a big chance for the price. And that can trigger for the price to break another high price, at least, we can get back to see $19k again at the beginning of 2020.

https://i.imgur.com/r3pEU7r.jpg

Maybe that is what I see, and I am happy to know the price can get up to $8k now. Hopefully, it can steady to break the higher rate. And if in the next year, $600k will really happen, I am sure that will be the highest price bitcoin can reach so far. But after that, we can get another biggest dump like before.

It sure would be nice if it really did reach 600k. But thats not just possible even with the technicaly analysis done. And besides, technical analysis may say so but it doesnt necessarily mean it'll happen 100%. We wont really know what will happen to bitcoin in the near future since everything that is said about it would just be speculations so all we can do is just hold and hold. Just reaching back to 12k or 13k is really enough for me. Realistically speaking anyway.

$600k is too far from what is the price today, and if you think that libra is the reason of this bull you are wrong, libra is still on the phase of making the project of the decade and it will be announce on the year 2020. And yet base on the article https://www.reuters.com/article/us-facebook-libra/libra-coin-group-in-talks-with-eu-regulators-executive-tells-reuters-idUSKBN1WC1DE (https://www.reuters.com/article/us-facebook-libra/libra-coin-group-in-talks-with-eu-regulators-executive-tells-reuters-idUSKBN1WC1DE) it will be delayed due to regulatory concern.

This chart is one of the options for the outcome of Bitcoin in the future. Unfortunately, it’s impossible to say for sure. Also Libra is under too much regulation, the project has a chance not to be launched due to the pressure around it

There are too many estimates and analyzes about the Bitcoin price. However, most of them are done without any valid basis. When McAfee said Bitcoin was going to be $ 1 million, a lot of people called him crazy. He had his own motive.

There is an unpredictable issue in the estimates for the Bitcoin price. FOMO! When FOMO starts processing, many other issues can be ignored. Therefore, do not underestimate FOMO. If Bitcoin somehow starts to rise rapidly, there will be a large number of people following FOMO. 600K is a great target, but not impossible.

I share the same opinion, we should be more realistic on the current situation, $600 k is a way too high to discuss at this current point of time,
I'm looking at a chart and I really hate seeing the chart right now, Bitcoin price is down -3.65 and we are talking about $600k.
I think we should first focus on adoption and another all-time, $25k to $30 k is reasonable.

Too good to be true, this is too far everyone would be happy if this happen of course but $600k expectation with the current price is impossible for me its already good if bitcoin reach a new ATH.

A pretty good analysis by utilizing history of the previous bitcoin charts. I myself also often use analysis like this when trading, but not always analysis is accurate, as far as I know, it depends on market conditions. Maybe this analysis will be in accordance with the picture if next year market conditions support to return, sometimes it's not appropriate.

So, I also hope that like what is listed in the title of this thread, but I choose to enjoy every reflection. The rest I invest in next few years.

It is obviously a technical analysis, because as you can see in the chart that the bitcoin price will push to 600k dollar. It's quite very hard, but in the near future nothing is impossible. Be optimistic when it comes to BTC, there's always a way on how it gonna push to 600k. We just need to wait for that to happen.

You should be knowledgeable in chart reading for you to have some thoughts on what are the possibilities but it's not the actual happenings in the market.

Just accept the fact that in terms of bitcoin it is not "what you see is what you get." Keep that in your mind. The chart only show the possibilities, everything started at the bottom.

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

I'm sure no one thought gold would come here to its present value from the first days it was found, and would leave a lot of FIAT money behind. I cannot say that it overtake the current value of Gold. But why wouldn't it really be possible?

LOL? 600 k isn't happening any time soon, if ever. IMO, the only way to see prices like that is only  if the U.S. dollar goes full bolivar in regards to inflation...

600k is a big number considering the point and the situation that bitcoin is at aright now, it is good to be optimistic and it is true that bitcoin has shown us and surprised us many times by reaching the once we thought impossible but we also have to be somewhat realistic, considering that next year we have the halving and the Libra coin might push the cryptocurrency industry to rise but i think that we might get close to 20k or 30k by the end of they next year, but only time can tell we just have to wait and see.

Seems like wishful thinking. I expect BTC won't see those heights for years to come, provided that it ever does. I would like to see it, don't get me wrong, but this just seems pretty impossible.

600k? I'd rather believe in the return of the dinosaurs

600k is definitely a wide dream looking at the bitcoin market. I don't really see Bitcoin attaining the price of $600k. The possible market value that Bitcoin can reach considering the entire crypto ecosystem will be between $50k to $100k. i think you should redo your analysis again.  In as much that possibilities exist in the crypto space, this analysis is not very feasible.

600K per coin really?
Yeah, that can happen in some million years!!!

Bitcoin is a potential coin and for sure bull run will happen again to our king of coin but for the $600k it is very unrealistic.
The analysis is depends to the people of they want to believe or not because people have other analysis and my highest bull push for the bitcoin value is only $100,000 and even that is no guaranteed to reach because bitcoin still mysterious about what highest value it can be.

I am going to be realistic to be quite honest. I doubt we will ever see a 600k USD Bitcoin, well not in my lifetime anyway. The fact is people can make a crap ton of money shorting Bitcoin, so why would they even bother to try to pump it up? Only if there was a huge influx of people coming in to buy it in droves and holding it, would there be that kind of a chance, and even then the Powers that be could do everything in their power to manipulate the market and keep the price low. Look at the price of gold for example, it was held down for years and years. I think they will try to do their utmost to keep the price of Bitcoin low so that they can accumulate and own in the end most of it. This would technically make it less and less decentralised as bigger fish would own the majority of it like Rich people do with every asset class.

It's impossible in 1 run especially at this market cap. It was easy enough at 1k USD or even 2k to go tenfold but the higher we get the weaker the pumps are going to be. They will still be big in terms of money flowing in because in the early days it could be 1 million dollars and the price skyrocketed. Now it will be 10 million but we won't pump 2x from the current price with only 10 million.

50k USD is not very hard to reach but 200k is a very big jump. 600 is impossible. It will take 2 or 3 bull markets to get there.

According to your graph, Bitcoin will fly to 600k dollars in a very short time. I respect your thinking but this graph seems too optimistic. I agree that we can see a bull run again after accumulation period but I don't expect Bitcoin to reach 600k. It would be too surprising I think.

Remember a scenario of USD/EUR/GBP/etc devaluations. That could make 1 BTC worth over a million USD (and at the same time, market cap of gold will increase too). I see it before 2030, when basket of goods are priced in BTC or the leading crypto of the time.

Perfect analysis for the bitcoin price bump. If there is crazy pump in coming days every people will make some rocking year for it. We need to understand the worth with this analysis and make the mark in the price chart.

Please review more cryptocurrencies, I believe we are on the bottom now. So we need to pick all the coins instantly and make money out of it.

If the rally starts on May 25 of 2020, then before that is just a sideway of $10k, that is pretty much a very steep climb of BTC in just two years.  I am no TA expert but any sane person can at least see it as next to impossible.  Reaching $600k in just a matter of less than two years (May 2020 to Dec 2021).  Lets wait on breaking $16k this October  (https://cryptopotato.com/the-analyst-who-predicted-bitcoins-bottom-current-price-says-16k-in-october/)first, then the $100k on 2020, before talking anything above those numbers.

And I think this prediction's here is much realistic than any of those extreme ones.

https://changelly.com/blog/bitcoin-price-prediction-2019-2025/

It is a plausible graph except 600k prediction. :D It is a very far possibility in such time I think. My prediction is that when Bitcoin start bull run, it will reach 25k and after that we will see bear market.

yes we know every halving reward for getting bitcoin will decrease and of course the price will go up, but I don't think it will be that fast, the arrival of libra next year will probably affect it, but it won't be that big.


agree with this, I also always see from the previous chart when trading daily, but sometime it wrong, even if i follow step by step,it's all about market conditions.

There is no mathematical or financial theory that is behind this TA. Why exactly the squares which notes different types of markets have those sizes? No explanation from author.

besides the author indicates that we have long accumulation ahead of us which i highly doubt, the scale just does not add up.

Anyone can make their own personal TA yet OPs TA is just too exaggerated that it defies the logical explanation of the normal technical analysis. And yeah, Bitcoin would reach that price soon but we have to consider the other factors here why it's almost impossible to reach that price within a year. Factors like, market movement, FUDs, news, whales, and a logical reason why it would hit on that certain price within X days.

I think market is irrational, and it shows no one really knows. Always there is a gamble on some levels, but anything below $80,000 could be a realistic value. Past performance not being a good model for the future, but If your goal is long-term (HODLing) I'd probably look to buy at this price point just because it seems as close to an equilibrium as possible, not anything else. If your goal is more short term in nature the RSI charts have been pretty good at predicting when to buy or sell. For active trading, make sure you are setting a sell target when you buy. Don't forget the people who are trying to get rich overnight are the ones that lose, and finance rewards the skeptical investor for a reason.

600k is too high. The price will not reach that high because that requires too much money. My prediction is the price will reach 60k. Maybe 600 after a decade.

That's high same as the McAfee's prediction. But I won't say that it's impossible but the chance is really that low at this moment. You just gave a chart without any other explanation on why it's possible to happen. The Libra effect isn't enough I guess and you're speculating that much while Libra hasn't yet launch.

Dude, you should stop spreading FUD.

It was the same type of person who was here in July 2010 (right after the slashdot article) saying it would never reach a dollar and be under $ 0.01.  And then it would drop back below $1 soon. And then it would never stay about 10, 30, 100 etc.

So you mean this will be continued raising up the price? Eh, I will agree on that side. Bitcoin price even how to dip the correction had it will recover and growing the price after bouncing you can see the resistance made. No technical analysis on this because we can consider is the unpredictable price. The best thing to do is just wait for the movement of price in the market. Remember that there is an article countdown in possible new ATH come and I believed.

That’s a high price prediction on a bear market, and it can’t make sense because everyone knows that we need first to have the real bull market before it happens. That’s right we should make first the new ATH but we can’t know when it will happen. If Libra coins push through, i hope the mass adoption begin.

I wish that Bitcoin climb up to 600k that easy but I don't give a chance for a long time. I think Bitcoin is going to break the record in the expected bull run but it can reach maximum 30k dollars in my opinion.

Pure speculation and day dreaming.
I hate those insane prediction which is just controversial promotion.
The market cap of this price would be 12600000000000 $

It would be a bliss to all Bitcoin holder if Bitcoin goes up to $600k in the next 2 years.  From the current price of $8,266.48 ( as of this reply), it will be 7258% growth and that is a lot of profit if that happen and the idea can really triggers greed that can cause FOMO but alas, investors now a day are wiser.  They are not easily carried away  with just mere presentation since they have seen a lot of these prediction circulating the internet space and most of them just failed horribly.  No matter how unpredictable Bitcoin price is, it will never just increase  that huge without any triggers or catalyst.

600k is an absurd number to be honest with you. Where did you get that analysis anyway. Even famous analyst wouldn't go in that number. Also, I think that Libra wouldn't have much effect in Bitcoin. I'm seeing bad opinions about it lately and I don't think it will create as much hype. It's like ripple, a centralized coin that is very different from Bitcoin.

I find your "realistic" view quite pessimistic. Bitcoin has already shown that anything is possible. It grew from 1000$ to 20000$ in about a year, when some people thought that after the previous (1200$) ATH it cannot get much higher and people could make a ton of money with it already.

Indeed, some try to keep the price down in order to accumulate. But the competition for those coins is rising, since more wealthy people/institutions want a slice of the pie. So the price is bound to rise.
Your comparison with the gold is not good and I'll tell why: first, Bitcoin is scarcer than gold and second, with the advance of technology there can happen 2 things: banks can find something better than gold as store of value (it doesn't matter what!) and release tons after tons of gold onto the market - and - gold may be mined from other sources, not from earth ... all may sound SF but could make the gold price collapse. Such uncertainty can keep the price down (!).

Bitcoin decentralization is not about the number of whales. Bitcoin decentralization is about full nodes. As Legendary you should know this. So I'll not use that wording. And no matter how rich some whales will become, yes they will be able to manipulate the price for a while, but it will become more and more expensive for them to play this game.

Nope, 600k is not realistic at all. We might see $20 000 again, but it would not be as a result of Libra.  ::)  Just remember that even if Libra is launched, it would cause a decrease in the price, because it is Bitcoin's competition.

A lot has been said about Kim Dotcom's K.IM P2P content network platform that might also go mainstream and cause a spike in the price. I am not so sure about that, because K.IM would also be using it's own token  ::) linked to the Lightning Network.  >:(

Are you always sure that you will come to work on time on schedule and not get stuck in traffic? The chart shows the recovery of Bitcoin; however, I see no prerequisites for this. Libra? It is unlikely the project will attract so many people to push Bitcoin up to $600k and even $12k

The bull rally lasted too long. I think now there will be a bear market and we should not hope for space growth right up to the beginning of next summer. Bitcoin needs to be held up and waiting for better times.

I got prediction on October bitcoin will back to higher about $16k but I am not sure is come true because bitcoin today under $10k, everything will be running with bitcoin price where October 2017 bitcoin break higher to $15k and many people got profit with bitcoin price suddenly on the top and expensive.

I heard Zuckerberg saying that Bitcoins recent bull run was as a result of people anticipating the Libra and the decision to postpone it has been the cause of the recent price slump. Am sure Bitcoins can eventually get to the 600K that OP is talking about but we are going to need 10 to 15 years before that happens if am to be realistic.

At first, Bitcoin will have to break the 2018 record at the maximum price. Then let's see how your chart is correct. For example, this year Bitcoin was too controlled, which prevented the coin from flying to the moon.

I'm wondering if the growth of the Bitmex-like markets will result the "Road to 600K" being delayed by a number of years. Everyone trying to profit on the ups and downs, throw in the alleged scams here and there, and wouldn't surprise me if it takes us a good little while to hit the 2018 highs again.

I see the only way to outpace the selloffs of early holders is if large corporate funds would start getting involved and stash up with btc. That way buying pressure would outpace selling and new heights can be achieved. Otherwise its sideways.. like the last year

I saw this article on the current situation https://www.thedailychain.com/jpmorgan-blames-bakkt-and-bitcoin-futures-for-price-drop/ (https://www.thedailychain.com/jpmorgan-blames-bakkt-and-bitcoin-futures-for-price-drop/) seems to make sense.

Yeah, I agree with you. I think we'll see it go sideways a bit while the new institutional money decides how its going to play the market.

We haven't even reach new ATH since 2018 and now the speculated price is $600k? I don't see it happening and just imagine how much whales will have in fiat value with that price. Better hide yourself from the public and authorities if that is really going to happen.

I really hope for the outcome shown in the graph. First of all, we need to wait out the end of bear market until the end of spring and there we will see could Bitcoin increase value and whether market participants will support the coin. This year, support was insufficient, I would say that major players manipulated the price

The market can't give a concrete answer to whatever the amount will go ahead. There's certain things that happen along the way without any trace, it just moving back and forth the cycle continue to bring more surprises to the entire community. You need to have that courage to face any fear of losing your investment and change it up to positive approach where you are still getting chance to see progress and bounce to hype and achieved new height.

600k in the next bull-run peak seems unrealistic. Maybe in 2027?  ;D

It is a nice imagination for this forum, It will going to $1M all are buying the Bitcoin. Because everyone know the potential and demand of this coin. So I never accept it will going to 600k USD and further year Bitcoin will raise slowly on crypto market. The current fluctuation will affect many investors so few only accept this kind of pushes.

It's more like Bakkt and Libra effect at the same time and now it appears the party is over. I think it will take 2-3 years for Bitcoin to reach $20k once again.

That guy is a perma-bear person. He really is spreading FUD and he has received neg due to that. I wonder what he will do when the market starts to show its strength again and their lies will turn into another lie.

8 years from now? 2 halving to happen including the other one that will come next year. The price that op has given is unrealistic and I don't want to give the same hope that I've got since 2017.

An extrapolation of the 2017 cycle puts it closer to $300K, but it's possible based on the magnitude of the 2013 cycle. We certainly can't rule it out. The honey badger don't care about the limits of our imagination!

It's not unrealistic. Take a look at how far each successive bull cycle extended beyond the previous ATH (Bitstamp prices):

• 2013: $32 to $1,163 = 35.3x
• 2017: $1,163 to $19,666 = 15.9x

For whatever reason, everyone seems to assume the next cycle must be smaller than the last. As an alternative, replicating the 2013 run puts us at $694,000. Is it likely? I'm really not sure.

I am not so sure that Libra will bring big changes to the price of bitcoin. however, I quite believe that the price of bitcoin will go up high in 2020. Besides the development of libra, halving, and others, I also read some articles that are quite interesting today.

As said in the article I read, McAfee also predicts the high prices that can happen to bitcoin in the coming year. in fact, he predicts that prices will be in the range of $ 500,000 to $ 1 million. he even held fast to this. the reason is because of the scarcity of bitcoin which will trigger high prices. in addition, halving also makes mining more difficult. that makes sense.  here' is the link to Artikel (https://cointelegraph.com/news/mcafee-bitcoins-scarcity-will-trigger-its-price-to-hit-1m-in-2020)

Halving only i think will already make bitcoin price increased again and then can reach new ATH. Not have analysis about it, but i just believe it will happen. Mcafee usually really can make price of coin pumped when he talk about coins, either it is true or not, his followers will believe it. And i think it is good thing because anything that can make bitcoin price increased might be good things.

Or maybe better start first in investing,thousands are crying about the growth but don’t even bother to buy again instead continuously holding the same amount years older
Stop the PUSH things instead start doing good for crypto than waiting
Accumulate more crypto as you can not only bitcoin for the market sake and for the growth as well

I find it kind of weird that some are speculating with such huge prices when we are nowhere close to reach the previous all time high, I could understand if people were giving these kind of predictions if we surpassed 20k and there was no signs of the price going down, but now it doesn't make sense, people need to stop thinking about such impossible price targets and instead concentrate on what it is achievable during the next months or years.