Bitcoin Forum

Everyone was expecting a very high price increase during the block halving period. But nothing happened, the price left hanging at the same price range. What happened, are you expectin that it will maybe rise soon?

We just broke a 1 months triangle pattern on the chart, now testing it with a pullback that happens 2/3 of the time according to bullowski.

This move looks really strong, I won't bet on a fake breakout. Fasten your seatbelt, this is going to move stronger soon.

we are still in block halving period.  it takes time for it to take effect ,  the   fact that we are stable at 630-650 USD is a good sign .  We have new floor at 600 USD and  the only way is up .

You are wrong, the majority of people was expecting a decrease of the bitcoin value the same day of the block reward halving. Now I think we will stay in this range for a couple of weeks maybe months. 

no way  ;)

exactly this! i was also expecting a significant dump to happen directly after the block halving. i am quite surprised there was no massive dump. so in that aspect i am very happy that the price is staying at current price levels.

I did not see more than maybe 1 or 2 users thinking that the price will decrease. The majority of users thought it will rise in this period, and they were talking about an increase in almost every thread in this section. Maybe I am wrong, but I think that there were more optimistic people here than those who thought the price would decrease.

I saw a halving previous experience, the price will not increase directly. so I was patient, and confident it will go up. let us look to the end of the year.

The record amount of shorts on the halving day on bitfinex is an evidence to the contrary. Longs are also high - but now slightly below the level it had 2 weeks ago.

Short are good tu fuel parabolic rallies  :D

In a long view period  (5-10 years) bitcoin should increase more and more, imho.

And if everyone is expecting to see the moon falling without any reason, would you still wonder why it didn't happen?

Fools expect a shit hitting the fan after the halving, but the fact is that halving was a long term planned event. It doesn't change anything that it actually happens.

I think there was more to see in that event regarding the markets. Usually, news almost always go with "dumps" on the stock, currency, or what ever it is value. The fact that bitcoin didn't dump on the news shows underlying strenghs, giving more power to the triangle breakout.

What is happening is everyone is waiting for that price rise that isn't coming. Once people start realizing there will be no rise the prise will plummet towards 200-300. We will see from there but i suspect by then the network will be severely crippled by all the miners quitting, stagnating the network as a result.

People would only dump if the price increased to the moon. This did not happen, so a lot of people are still holding on to their Bitcoins. I would not even think of dumping, if the price was under $1000 per Bitcoin. Even then, I would only drop a few coins just to re-coop some of my initial fiat capital and not my whole hoard. ^hmmmmm^

I certainly wasn't expecting anything post halving nor should anyone else. You'd have to be a fuckstick or maybe a shitheel to believe anything would. It's a long term deal.

A common variant of the sunk costs fallacy. "I waited this long already, might as well wait a bit more. Even though the price has only one way to go: down." ::)

You are right.The supply will decrease at the end of this year because due to halving miners will now dump lesser coins.Holding is the best option till then

I was expecting a lot from the bitcoin halving. In the last month/s, it was believed that the price would increase in July because of the halving. We're midway through July but the price didn't move that much. It just stayed at 640-660USD. To be honest I'm very disappointed because I get the feel that I have to wait much longer than I expected. Anyway, I'm fully aware that investing in bitcoins doesn't work this way. I should be patiently waiting for the price increase.

You didn't notice it more than double beforehand? I think that was the action and peeps should be satisfied with that.

Here is analysis concerning this issue:

https://news.bitcoin.com/bitcoin-breakout-technical-analysis/

YEah right i am one of them that thinking and expecting for the price increase not for decrease we know it will decrease after the price hit 800 value or more..

Like I said, bitcoin halving has nothing to do for a quick jump. Relying only on this factor to increase the price is not enough. It's all depend on the pumpers. Look at how hard they pump the price even back in the days where halving is still far away.

And besides still not happy with the current jump? We are down from below $500 for years and now we are sitting much above it. If the price is still at $500 or below and halving comes, then there's no need to expect another price pump.

I think the price will trade around $600 to $800 in the next 5 months. Then it will rise to $900 or higher.

It need sometime to see some reaction of halving to market. Still some bitcoins which were mined before halving are in the hand of the miners and they still find profitable to sell those mined coins at the current range. But when newly mined coins will come to trading than miner will not be willing to sell those coins cheap because it will not be profitable for them considering current mining cost. So holding whatever you have till another rise will be good decision for now.

The cost of the newly mined coin are around $400 for the electricity cost, if you include other cost, it could be higher.

people expect a lot of things out of bitcoin and they say a lot of other things about it even some things that doesn't even makes sense like crap like this:

so you see not all the things you read on the forum is true. and many users are only saying things that suites their situation that time and want to spread some lies for their own temporary advantage.

No, only idiots were and you fell for it

yeah exactly the price was around 400$ before few months only but now its 670$ which is pretty high and we all should be satisfy with it :D but its giving some some sign that it will go more high !

Yes over 1000 when this pullback is done. Its clear sailing to profit. Buy now or cry later.

I agree with that somewhat. The bitcoin price could be between 900 and 1000 dollars after the correction.

The price rise from $400 to $650 is due the halving which was done on July, although halving was over its effects were not yet over. We may see its complete effects in the coming months with high price.

People are never satisfied. If you look at how the price has gone up in the last months, then you can only be impressed. At least, I am impressed. People that bought their coins at todays prices don't care about the price increase that we have seen lately. They just want to see the price go up now and ignore everything else.

I think we have to wait a little more, the announcement was not the announcement of price increase but it was the announcement of the halving of the reward of the miners so when the effect of halving will start the price will start increasing.

See the chart, the halving has been gradually priced in for months.

we are keeping stable price and is good.  I have seen  several dumps around 20btc-35 btc   each.. seems we have several  chicken ass rats thinking that this was the high from the halving and they are leaving ship and this will offcourse cause  the value go down . But  we will have some buyers picking those coins up and the small loss in value will be regained.

Actually I was not expecting any relevant movement in the bitcoin price, because markets always react with enough anticipation to every important information or event ahead, and this halving was not an exception and that is why we observed an important increase some weeks before that day, from around $400 to $790 in few days.

And I would expect a remarkable stability on the the bitcoin price until year end.

Well, it is a reality that is happening. after halving, no major effects that occur in the price of bitcoin. but, a lot of people who think that this is a delayed effect, meaning that bitcoin prices will surely rise to the height, but it takes some time both in the long term or short term. I also think that, and I am very confident that the price of bitcoin will actually go up in time

The major effect would occur  6 to 12 months after the halving. That is mainly due to the adoption.

As quoted the price might jump towards $900 or even higher, but this won't sustain for a long term. I believe that the price sure decreases gradually and stabilizes from where it started to rise.

Well, actually I really expect bitcoin prices rose higher after halving, but I guess it does not happen quickly. it takes time to wait bitcoin prices to be higher, whether it's for how long, but I still hope that bitcoin prices will rise, and surely the price will really add up at the end of the year. maybe my expectations this time bitcoin prices reached a price of $ 800 in the next month

The market is slow, the reason is the holidays are here. Traders even in the stock market become less active. There is a saying in the market.
Sell in my and return in september.

Wait for it,,its not like that bitcoin will rise immediately after the halving start.
It wull take days,or months before the impact of halving take place
.

What is happening is dump after dump after dump. Every day more and more people learn about bitcoins flawed fundamentals and realize it can never work specially since nobody seems to care to fix it.
Second thing that is happening is dumps by people who bought into the halving hype that never happened.

The only thing that will happen now is more and more dumps as exposure of this scam grows.

I have to point out bitcoin is not a scam by itself but the community has turned it into one. One with far too many victims already. Be smart. Be safe. Educate yourself. Invest in future proof crypto.

It could take even longer than that if everything is really slow, but I guess it is more than likely that the value and trading will start to pick up once everyone goes back to their full time jobs or whatever once they stop being on summer vacation with their families, or whatever they're doing.

How about the sudden price that breached the $500 barrier that was a desire of anyone for a long time?

Is it more interesting? It was a great achievement as we are not sitting now on below $500 range.

It is a good achievement the price is around the $650 for the short term. It could be there for a few more weeks.

1- If there is nothing broken, there is also nothing to fix.
2- People who were believing in miracles due to the halving are just dreamers without the ability to put things into reality themselves.
3- The price has gone up tremendously since the price was just hovering over the $300 price level. - Look where we stand now. ;)
4- Have a nice day.

The price didn't increase? When halvening was upon us, the price jumped from $430 to $750 in anticipation of the event actually happening.

Even though the halving hadn't technically hit yet, the price went bonkers because it was going to hit, and it almost doubled!

Then the expected dump came around (people like selling at $750+) and we're back at $650+-.

A lot of shit happened, you guys!

Still we have a lot of chances for a steady rise in upcoming days, at the moment price it on the correction period but this is nice to see, it is very stable on $650 so that as I think it will rise very fast than before to cross the $1000 easily.

yes this is a good indication on price stability bitcoin. bitcoin prices now fairly stable and the prices tend to be ascending. I hope that in August this could bitcoin price stands at 700 USD.

Certainly, the stability in price shows that the price will increase but no one in their right mind could be bearish toward bitcoin now, we keep an eye on the $7000 level to be achieved in August to September.

nothing big is happening to bitcoin price right now, i think that the price of the bitcoin is definitely going to go up soon because people will expect to make money so they will buy

There is nothing interesting or very exciting happening at the moment. I think it is just gradual adoption increase the bitcoin price.

well i think the price will be much higher in a few months, it has a lot of potential to grow right now and in my opinion we will make huge profit

The current price is an achievement. Even with the halving the rewards are more than enough to pay the costs for the miners and the transactions are working fast as usual.

Fortunately the bitcoin price has proven to be stable enough to remain almost unchanged after that highly expected event, and actually it is not a bad news because this is a clear sign that bitcoin will keep its strength despite all the adverse scenarios that some people have announced for long, and I prefer a little but consistent price increase than a sudden but unsustainable pump.

Miners were happily mining even when the price got dumped down to far below the $250 level in 2015. And it was showing as the difficulty kept increasing and increasing. Mining farms have a natural advantage on the rest as they have to do far less effort, and thus have much lower costs per mined BTC compared to smaller pools. No worries.

That's correct. Miners need a price of around 450-500 dollar to mine with profit.
At this moment we are well over that so that's what we should sustain, having the price well over 500 dollar.

I am seeing this price range as an accumulation phase for whales and after price being stable for this long period it will not be surprise to see a huge pump.

yes im expecting rise of bitcoin that will start next month. I still believe that there will be bulls that are only sleeping and wake up next month.

I think the bitcoin price will start in September or October. It need long time to have some consolidation.

I assume that the price increase before the halving was in anticipation of the halving. Since everyone know when it would happen, we didn't see the bump at the halving, but gradually for a couple of months before.

What was to be expected, happened. The price ran upto a price profitable for miners.
At this moment we can only wait and see what will happen after the holidays, because I don't expect anything big in august.

The Core client with the SegWit will be released soon, if that is in August, that would be a very big news.

people already know about it, so it can't be seen as big news anymore. maybe that the price will go up around $100 once it is implemented, but that would be it.

If the SegWit or the 2MB block size is implemented, that will enhance the user experience quite a lot, so the price will rise.

It would be big news and very interesting for us know that a new bitcoin features has been come out.
I have to say i find these moments very scarce from the core developments. Hope they can turn it op a few knots.

It most certainly seams like the most probable explanation, the old "buy the rumor, sell the news" kind of thing. But none the less, i believe the price could
easily go much higher, as soon as we get rid of people selling out because they were expecting express profits from the halving.

SegWit is something that we all have been waiting around for. It gives and helps bitcoin in 2 ways
- A key feature for us users
- A nice feature for media outlets to publish articles about.

Till now companies are eager to inform themself about the blockchain, but with developments like this, they will understand it's bitcoin what is unique.

im pretty sure that you might be right about this, in my opinion the price growth was because of people buying their bitcoins in order to make profit during the halving event

i think the growth will be happening pretty soon, in my opinion we might even see a new all time high price in like 2 months or so

I do not think that will happen in 2 months. That could happen after the SegWit or the 2MB block size implementation.

well yes price now after halving is still stable, probably because everyone is afraid to buy or sell bitcoins, so that's reason why bitcoin price is stable

iam happening is get collect is much bitcoin
much profit and bitcoin up go the moon high price

Haha, that is true. You are happening indeed.

Ontopic
The market is testing it's boundaries and we have to agree at this moment it is the downward boundaries that are tested.
Because the sentiment is selling.

the future is uncertain and we were in the middle of prediction whether the price will rise or fall. anyway i was collecting coins for more than 3 months by the hope that it will rise $800 to 900 within this year.

Every user expected for an increase on halving but the steep rise took place weeks back to halving. After the halving the price have been getting stable around $650, which is now decreasing often to small extent. This year end to the maximum we might reach $750 if gradual increase happens.

The happenings today are considered as great in my own point of view. I don't want to back again at below $500 range so price today is great. And slow rise means building resistance around the current price. Hopefully we can say soon that $600 is a low price to consider.

but it is also a fact that some people were thinking that after or even just before halving the price of bitcoin will fell down to very low level. but we can see that nothing such happen. and the price remain stable. and i think that is a good thing about bitcoin because it is now expecting that the price of bitcoin will increase so much.

it would be a strange thing if the price dropped, a lot of new people got interested in bitcoins and wanted to make money so the price had to go up

I was also expecting a big price increase in the time of halving but it not happened, by the way it was also my luck that it increase much higher before halving , now I am waiting for the halving effect which everyone here is expecting for the bitcoin.

Probably because everyone thought it would keep increasing is why it hasn't. ;)

Remember that the last halving didn't do much. It wasn't until new ASIC miners came out that the price really started skyrocketing.

I don't know where you have been, but the price has gone up considerably already. It happened before the block halving. Right now we are $200 higher than we were exactly 2 months ago. And when the price reached nearly $800 it was even $330 higher in less than a month! Isn't that enough?

hmm. let me see some dates!
the first block reward halving has happened on 28 Nov 2012 http://blockexplorer.com/b/210000 price is around $12
2x rise happens on feb 2013 (~2-3 months after having)
3x rise on march 2013 (~3-4 months after having)
19x rise on Apr 9 2013 (~4 months after having)

first ASIC system was shipped out to customers on mid Jan 2014 (https://en.bitcoin.it/wiki/ASIC)--> bitcoin price to the moon but it is after 2 years

am i missing something here?

Your missing the fact that the 2013 rise was completely artificial caused by the willybot.  We arent going to get such an insane jump like that ever again.  And as price goes higher the actual increases will be smaller.  We already got double just prior to the halving,  anymore is a bonus.

You are also missing the fact that events back then are not the same with the events that will happened today. We don't need an aritifical bot today because no doubt there's an added numbers of investors today even at small stats.

Also, you just said it, a bot that caused that pump. The large pump can happen again without it. I have no such basis in my claims as Im not an expert but I will stand to my statement.

i expected the price growth though i did not put a lot of money into it, to be honest i think that the price is going to start growing in like month

bitcoin prices began a steady climb from the small drop, several market observers asserted this decline was only temporary, and that the price could push its price higher in the coming weeks.

yeah everyone just holded their bitcoins and that was it, everyone forget that people have to buy bitcoins in order for the price to grow it is not just enough to hold it

hope that the price will not dropped. as it not dropped at the time halving because according to some people the bitcoin will droppe to such a low level because the miners will not take interest any more the value of bitcoin will decrease because people will lose their interest in bitcoin and they will not trade it any more.

I think its impossible to happen because miner they dont let price to go down because its not profitable.. and i think many miners will control the price if they are already a company and many miners.. like in china... the price should be increase and should be balance..

hmmm, well you might be right about it, people were expecting for price to grow and they did not buy anything

i hope that people will soon realize that it is still a good opportunity to invest into it and they will put a lot of money into bitcoins

No such thing as big price drop will happen, at least in my own point of view. After block halving, if price will go back to the range of below $500 then that is totally a failure to consider in the bitcoin history.

We must set $600 now as the bottom because that is the real thing to happen.

Yes, you are missing that the first ASICs came out in January 2013, not 2014. Or at least they were in full use by February/March 2013. There were two major players, ASICMiner by friedcat (a company that sold shares and traded online only) and Avalon by ngzhang (actual ASIC miners).

It will grow but now growing is slowlier and slowlier so it needs mire time to wait to grow for bitcoin cryptocurrency up and i think that it will not happent this or next month.

you have no idea what we are talking about!


thanks, i did not know that.
now i also found this http://bitcoin.stackexchange.com/questions/40944/when-did-the-asic-mining-era-begin which approves what you said.
apparently "Jeff Garzik" is the one of the first to receive an Avalon miner on Jan, 2013 and post a review about it.

I think it will rise a bit and the drop dramatically, maybe it's jsut me, but checking the amounts that some pages have

The having effect on the bitcoin will be felt 5 or months after the halving. So the price will rise a lot early next year.

You all want the price to rise because you are bitcoin traders, altcoins have come on board to compete with bitcoins.
Maybe it's time to add some viable altcoins to your list of goods for sale...

For these who bought at $750 it isn't. There are always losers and winners, it is a zero-sum game.

the point he made is valid. These rises indicated in the first post cited, have absolutely ZERO to do with the halving. What is the time interval from halving to attribute a rise or drop as 'due to the halving'. A month, two, seven, twelve? Same happened this time. It is all about pumps happening at some random points in time (ok, it is known to the involved players) that are not related to the halving.

As long as people selling bitcoins on a daily basis you will not see any big rise in price any time soon.

The fact that BTC block reward halving had no effect on Bitcoin's USD value means that supply is still higher than demand and price is being maintained artifically higher than it ought to be.

But even the price still not moving back to 700 value i think following months we will see this price back.. and more price will come.. if the bitcoin will be in demand these following months.. the advantage right now is movement of the price of bitcoin is fast than few months ago..

thats true, if one person earns money then another has to lose, it is how it is in trading, the price is stable right now though so i dont manage to make money

Now that it is 2 weeks after the halving we can see that it has no effect anymore. Rewards for miners are cut in half but the price remains the same. No one is speculating anymore that it will go higher and more and more people are waiting for it to go down and are placing their buy orders at lower prices. Bitcoin will go below $600 slowly and will stay there until the end of this year. So it is good to wait and buy more at lower prices.

actually i still don't think halving didn't play any role in the rise. first of all if you read my last comment here you see that i missed the first ASIC miner coming out in Jan 2013 which means the first line should change to this:

2x rise happens on feb 2013 and first ASIC miner comes out in mid Jan 2013 (~2-3 months after having)

so you still can't say halving didn't have any effect because it takes time to see the effect of halving. you can't expect the day it happens, price goes up. miners don't dump coin as they receive it. they keep it for some time.

IMO that's kinda what we're seeing right now. People have stashes of btc in their hands, unless that stash is reduced or gone, or more people get into the btc space we won't be seeing much of the effects of supply scarcity.

When more people are attract to the bitcoin, the buying power will outweigh the selling, the price will rise.

Well I don't pointing out that it can be linked to the halving as I know we doesn't have any noticeable changes today that can be point to the actual halving.

Halving speculation is just a linked effect of what the main reason is.

Well Bitcoin price did recover slightly today; but I dont buy into this rise - could be a dead cat bounce

Because we are more stronger now, the Mt. Gox was many years ago and I almost forget it until you reminded it here, but we have move one ever since and we are now more capable of going to the future with a very good potential to get a massive adoption.

I heard that Mt Gox lost 850,000 bitcoins, which is 7 times more than the loss of the Bitfinex exchange hack.

So I think the bitcoin price will rise to $600 soon. The 120k bitcoin will not be dump to the market in the near future.

Yes, unfortunately these events do not help for nothing, also add others big exchanges that  had other problems, willy-nilly investors lose confidence.

of course all people are expecting the price to grow because of that everyone if hyping that the price is going to go up and they will make money out of trading

Price will rise in coming months, as price is low now and many people are buying at this stage as they are aware that price will be much higher in the end of the year.

I think so. The price is around $595 now. But it will rise to $600 in the next few weeks. It could be $900 in December.

Yeah! we are going back on track again, the price will be back to $600 sooner, and the confidence of the investors will be back again. Our hope for the price increase of halving will happen soon so hold on people and rip the fruits of your labor this year.

LOL

You know that the "halving" had come and gone?

Also, what is this "labor" you're talking about? I didn't know you had to do manual labor in bitcoin. If HODLing is labor, I'm speechless.

It seems to me there are many people on the forum who still think they're going to become millionaires just by holding bitcoins. I've got news for you: Unless you have thousands of bitcoins, you ain't becoming millionaires. There is no way a bitcoin is going to be worth more than $1000 any time soon, never in your life time. Get it through your thick skull.

Ey Mr. FUDster back in town! :D
You are always so negative and pessimistic.
But don't worry! Bitcoin will go up to $1000+ and then you will be happy as well!
I can assure you we will see a new ATH withtin the next 12 months!And from there the sky is the limit my friend. ;)

We have been saying in the beginning of the year that price will rise on halving and it didn't raise as per expected. Now again we are hoping it will cross $1000 at the end of year. Lets hope it does this time.

of course the price is going to grow a lot in the near future, in my opinion bitcoins are going to be huge in the future and it will allow me to benefit

I agree with that. The price might reach $700 in September if all goes well. It could reach $900 in December.

Maybe not $900 in December but I would expect for it to be drifting upwards more considerably than a downwards turn as long as the market keeps going strong. Maybe $900-$1000 by February next year.

If you collect as many as bitcoin at present, you will be rewarded in the next few decades if you hold long term.

The bitcoin price has dropped from $600. It is around $595 now. So there is possibility that the price will stay around $590

Not important for us predicted the price in the end of year or next year, more important we must push the price up than we just made a prediction and we need hold some coins to make it occur.

the halving is a process that needs a while to have an effect (look at the first halving, it took months to take an effect on the price).

on top of that bitcoin is under a lot of pressure from the bitfinex hack (many bitcoin noobs think bitcoin itself was hacked and bitcoin is dead)

and more importantly bitcoin just doesn't want to scale because we are still stuck on the 1MB cap and we can't seem to agree on a scaling solution even though it has been debated for years and solutions have been worked on for years as well.