Bitcoin Forum

Just within 2 days after the halving, it seems bulls are back into action unlike what we had in 2016 and I guess this might be the simple signal we must read about how stronger bulls may turn this time around. There are 2 backing reasons for expecting bulls to go more harder than ever.

1. For the first time in 10+ years of bitcoin history, block rewards are now less than 10 bitcoins. I mean block-rewards are no more an attractive criteria for any new businessman to get into mining business. They may simply opt for buying bitcoins rather than thinking about setting up a new mining industry. Same applicable for those cooperates who are already into mining process; we may assume like they may not re-invest more in expanding their mining plants but they may focus on saving bitcoins.

2. In less than 11 years, around 88% of total bitcoin supply were mined out and only ~12% of total bitcoins are remaining to be mined but it may take another ~120 years to complete.

If you closely notice, both of my points are saying same thing; we are going to start experiencing the actual inflationary property of bitcoins here after. Do not be surprised if you happen to see a new ATH before end of this month.

If there are less IQed whales like MTGOX treasurer who still look for cashing out their stash around $10k then we may face some delay but nothing may stop bitcoin to have new ATH in coming months. Bitcoin is going to break all its previous traditions like having new ATH around Christmas/New year, it is time for newer things for everything. Get ready for travelling to stars :D.

It's still too early to make any conclusions.
We've had similar situations hunders of times do far. Price strted to rise for a while and then pulled back. And remember that not every price rise is considered to be bull run. It's too early to.estimate real effect of halving and to say how the price will behave.
So many times there were such euphoric posts about moon and stars and in a few days when price falls, posts about Bitcoin being dead start again. That repeat over and over again and it really starts to be annoying.

Of course, it’s very early to draw conclusions about the movement of bitcoin towards the bull market on the basis of observing its price for several days after halving the reward to miners. Not only this factor is affecting the price of bitcoin now. We are also on the verge of the onset of the global economic crisis, and this can also now affect the current increase in the price of bitcoin.
To evaluate the effect of a decrease in rewards to miners on the price of bitcoin, more time is needed. Moreover, the first few months must be evaluated in terms of the possibility of a drop in the price of bitcoin.

We started seeing bullishness days before halvening, but from a certain point of view it wasn't bullishness at all, merely a recovery to the same level that was seen earlier this year, before covid-19 crashed it all to the ground. We also had even more bullish periods 1 year ago.

Basically, the market is already different from past halvenings, it doesn't follow the same pattern as before, so even if we'll have a huge bull run soon, it will still be in some ways different - it could be faster, more volatile, etc. We could also be trading sideways, which happened a lot recently.

Can we ever get to the stars buddy ;D it's too far. Although you made a great point but expecting bitcoin to get bullish just a few days after the halving is very early. We have to point at Next year 2021 just like 2016 halving and 2017 bullish run.

Still so much fear in the market right now. Many people expected that after having btc price could be dump hard but it's still keep increasing and today its almost touch again 10k (very close). But the way btc price is moving is good and looks it can be break its all time high in 2020 too. More people aware and adoption makes it possible. And I am preety sure about it that if that corona panadamic is not come then btc price is near trading 15k. Well moon is not too far as much as concern btc price.

Given that 99% will be reached by 2032, that 1% is quite irrelevant to the total amount that will then be in circulation. While we can't be sure how much of the BTC has actually been irretrievably lost, various speculations are talking about 2-4 million of coins, which means that the total supply will certainly be less than 21 million.


Optimism isn’t a bad thing, but you should need to be realistic about some things - the new ATH in 15 days is still too much even for BTC if we’re talking about a price that should reach $20k. There’s always sales pressure when the price goes up, because don’t forget that some invested in BTC just 2 months ago when the price was only $5000, and briefly even lower. 100% of the profits don’t seem bad at all from that perspective.

Bitcoin needs more time to get the real bull run, but we already get a small bull run happens at the market so we will have a chance to see another bull run, whether it's a small bull run or big bull run. Perhaps, the history will repeat again in the next year, but before that, we might have a chance to see the bitcoin price to increase higher and break $10k.

But besides the bull run, we still have a chance to see the bear is at the market because the bear still stays at the market. We don't know if the price is down, that can be a big dump that can happen at the market, so we need to be careful if that is happening.

More people predicted a dump after the halving for short term but its surprising that prices started to increasing but this is what I predicted as post halving analysis in the earlier stage so I just holding my coins.Only few days passed after the halving so we can't say this is really shift in the price trend, we have to wait few more days to conclude anything.

1. You cant say such thing yet even block rewards been halved but doesnt mean that it will completely stop to those who do like to mine.
Almost free or cheap electricity would still suffice though.So its not totally closing up on this kind of operation.

2.Im not really concerned that much yet it wont happen in our lifetime.  :D

Just let those so-called less IQ's you have said or even ordinary person who do tend to sell off their coins.
Not all would be a hodler but doesnt mean that they arent utilizing price movements to make profits.
You can make money along the way.

I'm also positively supprised by Bitcoin's resilience. I also expected that this dump require more time to recover.

Some well known traders were more bearish with Tone Vays predicting it to be a start of a nother downtrend to 5-6 thousand and we have to remember about those all out bears like Ross Ulbricht who thinks we'll go to new lows this year.

I think we'll see a new ATH but in 2021 or maybe even 2022. If it happens this year I'll be euphoric.

 

Whenever someone like you mentioned that price is going to be dumped then the possibility is to get bump because they are trying to manipulate the market and make benefits from the dump or bump.So as smart one we have to act opposite to their prediction to get profits.

There are a bit different on the halving effect compare to the previous halving but that shouldn't be considered as alarming since it is too early to distinguish the real result of this event and things keep on changing. If some miners will really quit from mining because of the low rewards then the price of bitcoin may pump for a lesser availability of Bitcoin in the market but trading probably becomes more aggressive that will cause scarcity in Bitcoin.

That is another reason for an increase in price yet these reasons may not be enough to have a bull run within this year it may still take a few months because most of the investors are still holding on their bitcoins and still waiting for the time which they think would be best for them to start trading. However, let see it and I'm sure there will be a huge impact.

We understand that we should dream big, however, we should not get excited here. The bullish formation started weeks prior to the halving, because obviously, investors wanted to get in early and make profits in either short or long term. But getting into an all-time-high before the end of the month? I highly doubt that. For us to reach new ATH, we need to more than double the current price, and where should the money come from in this worsening and looming economic recession? It will take months and years before we can finally reach all-time-high, when people started to FOMO again.

I am here as your travel buddy. We'll be travelling to another universe in the coming years.

Kidding aside, I don't see an ATH within the year though. I know that Bitcoin could suddenly leap from $2,000 to $20,000 in merely four months but I have serious doubts it will happen again within the year. But I hope it will.

@btc_angela you’re absolutely correct as we won’t be seeing $20k levels anytime soon, and hence in the short term we can only hope that bitcoin prices can cross $10k levels once again and this time hodl it for good. It’s also pertinent to note note that bitcoin prices witnessed a $500 drop, but the bulls managed to get the prices up again however I won’t be terming this as a bull rally.


Source:

https://cointelegraph.com/news/bitcoin-dip-buyers-are-now-watching-this-level-after-another-5-drop

If miners close down, this reduces competition and this could lead to an adjustment in the mining difficulty and a reduction in the time taken for block confirmations. I expect that all variables would balance out no matter the reaction to the halving.
Also consider that without FOMO and a much higher demand an increase in the price is highly unlikely.

I believe about miners who stopped, but not big miners, I'm sure they already have a strategy if Halving happens, Halving has also happened for 3x, and now see ?, miners are fine. And it looks like Stars are much better than the moon  ;D

You have a very good point although the market is moving slowly, I expect the market to pick up in the third quarter of the year when we can all felt the inflationary property of Bitcoin, we are far better today than the last halving doing business using Bitcoin or using Bitcoin is more conducive to Business, if you are not prepared for the next all tiem high you have yourself to blame, all the signs are all here.

First I came here thinking there would be discussions about like mars or spacex or Elon Musk and so forth :D. I didn't really think it would be about the price but considering we are in bitcointalk and this is the speculation section of it, I kinda get more surprised about myself why I believed it would actually be able space travel :D.

In any case price of bitcoin doesn't have to really go too much high considering we are always recovering and always recovering is enough for me, I do not need to go to over $50k, I just do not want to go under 10k anymore and if we could reach those levels that would be basically more than enough, why do we have to travel to stars when not having to go back to earth after going to moon is enough, I do not want to just go to moon and comeback neither, I just want to go to moon and stay there.

I always appreciate people who have their mindset fixed on the great possibility that after halving Bitcoin can get into the "stars" which is more romantic to me than then "moon." Of course, there will be many obstacles along the way, akin to Bitcoin passing through the eye of the needle but eventually we will get there. Once the gloomy effect of the pandemic on the market can subside then I am positive that things will start to be exciting again with Bitcoin.

The fact that it almost broke $10k again is very bullish, because when it dumped to $8100 it basically signalled the "buy the rumor, sell the news" for the BTC halving. Basically too many people got bullish. CNBC was making tweets again and the dump to $8100 cleaned them out pretty much.

If we can just break the $10500 area then we might get a shot at $14K and finally shot at $20K all time high figure. The $10.5K is important because we hit it twice, first with the Xi pump in Oct and later on in Feb before all this coronavirus mess, if we can clear that figure then we might never go below $10K ever.

Becareful trading on weekends, it usually leads to sharp false moves one way or the other. Best to wait until Monday for the market directions to be more clear.

actually people before have a fixed mindset that btc can go to the moon despite of many economic problems and personal problems that we are facing but maybe thier mindset from moon can change into stars after reading this thread here    .  idk but do stars are really farther than the moon  ?  because before i thought moon was the farthest  lol   .  btc didnt even reach the moon yet so why we shoud expect that it can travel farther than that  ?  maybe we should wait first  and take things slowly but surely 

i believe that this is not the Bull that we are all waiting for because after 3 days starts to full back again and now seems we are getting back to $8k level again.

and also these Backing reason are not enough for me to agree that we will be having a Real Bull market this year.
Look at the whole situation and not only about the expected growth for halving season.

The whole world are suffering from the pandemic effect so how can we expect simple people to invest here when they need to face their stomach first?

everyone and myself also want a new All Time High for Bitcoin, and it looks like To the Moon has changed to To the Stars ?, interesting,  ;D
and we don't know yet where Bitcoin will go, maybe to the stars maybe to the moon  ;D or maybe to the earth

I also like to be in the move to moon. I don't know about stars for now as scientists are going to show us that. ;D
For ATH this month, that is a positive wish that I want to also see but what can the reality be for us as we wait to see. :o

Bulls and bears are fighting too hard at the moment, because we can see bump and dump in specific region for a while, only after this price range we can conclude that whether the trend is going to be bullish or bearish for the rest of this year.