Bitcoin Forum

In which month this year is the price of bitcoin expected to rise due to difficulty etc?

Bitcoin price will likely rise in 2016 due to halfing.

But you can look at this chart to get a good idea of the range of the price over the rest of the year:
https://www.tradingview.com/v/7YEmxS3K/

brilliant, thanks for that!!!

At the current price miners are earning roughly $2 million per day. A devaluation rate of roughly 10% per year.
The price will go up when the economic benefit achieved by non-miners using bitcoin substantially exceeds this level.

As long as fiat currencies are steadily devalued, just holding bitcoin diminishes the devaluation rate - but most fiat is being devalued at a slower rate than 10%.

So what are you doing with your bitcoin? Are you using it in a way that saves you money? Bank fees? Exchange or transfer fees? 2-3% shopping discounts? Faster trade resolution? This is the stuff that needs to add up to $2+ million per day if you want the price to sustainably rise.

Get busy :-)

VC investments are pouring into BTC companies.
This is a great sign that powerful investors are expecting growth.

It has been shown that the exchange volume is about 1/6th of the daily bitcoin volume. Which could easily estimate that only 1/6th of the mined coins are sold on the exchanges.

This would be only $330k per day going out. With VCs like SecondMarket who said their clients tend to invest $25-50 million, you would only need one of those investments every 3 months to keep the price stable. 4 investors per year.

There will be many more than that. And in 2 years, the mining is cut in half.

That's a pretty cool way of looking at it thanks Elwar for sharing that.

Just passing along the chart, I forgot who posted it originally.

Well to me it sort of looks like were going to hit that 34 36 bar range or are passing it and this is in the low period with a rise in a few weeks not sure If I read the pattern properly though 36 bars is March 30th

Yes, the price appears to be on the low end right now and would require a lot of pressure to keep it this low for very long.

From the charts it looks like June will be the next jump through July as many on here have been predicting.

Thing is that we can't use past things to predict the future even though I still believe we are in 1 or 2 bubbles the coming 2 years

It simply don't make sense to have a small cap of 7 billion for so long

Well it looks like it will be an interesting next few months although Bitcoin is and so far has always been interesting at least from what I know about it, but if that chart prediction has anything to say about the Bitcoin price it is that we rather get our beltbuckles ready and get ready to be flying on the seat of our pants as it goes up for a while :)

Then again this is the speculation subforum so it must be fun to have all these guesses about direction, price flow and then factors like demand, quanity and fungibility, adoption, S-Shaped Curves, and charts then trying to figure out if this whim wham is going left right up down sideways vertical diagnoal and so forth ha-ha.

But June or July seems plausible as tax rebates usually arrive by then and the individuals who feel like investing and taking a bit of risk decide to invest a portion of their holdings in Bitcoin, and after doing so go to the nearest pub and drink some fine whisky before becoming a broke chump again by the time Christmas arrives ;D

Pattern - Janurary Broke Feburary things cheap still broke March Taxes April Rebates and Tax Free Day US May (Stock Market Break Period to enjoy the season) June Tax Free Day Canada perhaps users buy Bitcoin July Patriotic Celbration Both Countries
Aug-Nov Money Accumulation December - Holiday Spending

So can see where that prediction can come from as well.

http://en.wikipedia.org/wiki/Tax_Freedom_Day


I agree although where a good market cap is makes me wonder what it will be by the end of the year
Somewhere around a google valuation seems fair but that brings the price up to 10K a Bitcoin so perhaps some middle ground between those points is where it will settle at.