Bitcoin Forum

The price was average around $1,000 around February. The momentum seems to be only picking up. The bubble has a long way to go. Who thinks we will see $3k? $5k??

Every user has the positive thinking that the price moves further towards $3k or $5k looking after the new ATH and the continuing growth. Several experts such as Bobby lee too have come out with prediction of price to be moving towards the range of $5k to $11k before the year end of 2020.

this is not necessarily a bubble just because it went up high so fast. you can not ignore the fact that before this rally started a lot of countries gave some kind of a green light to their people for investing in bitcoin.

something that the governments never talked about is suddenly something they are considering to accept as a legal payment method. this may seem like simple words but this is huge and it attracts a lot of investors. people who have been worried all this time because their government never said anything about bitcoin or was looking at it as something not-so-legal.

I dont think its a bubble as bubble dont last for long. I think this time its the real price of bitcoin and the rate of increase is due to the demand and trust of bitcoins and also new companies adopting bitcoin making is a low supply, high demand entity.

People usually try to define bubble in terms of how much an asset is overvalued, when compared to its intrinsic valuation. Unfortunately, there is no basis with which you can value cryptocurrencies. For all you know, Bitcoin may be deeply undervalued now.  :)

We will ONLY find the real price, (likely much higher) when there is consensus from the BTC devs of many flavors on the block size and scaling stuff.

Man, if they were to announce NOW that they had the same 'handshake agreement" for segregated witness that LTC had....


hell, I just wet myself a little :(

You are probably right, if you look at the history of bitcoin whenever the price bumped up very fast it always ended up going down later on but bitcoin has been going up since April 10 so I wouldn't really call this a bubble because it didn't really happen that fast

Searing, I think it's better to forget about consensus. It's an impossible task with various pools simply not liking the idea of having SegWit activated.

They protest by signalling support for BU just to not let SegWit activate. From there it's obvious that we don't have to expect anything from them.

Not everyone likes this, but the only way to go is UASF. I seriously don't see any other option to have SegWit activated this year ~ we can't wait much longer.

I also don't believe that this is a bubble, it may dump to like 1700$ but not to much. You said it yourself it took 3months, not a week or a day. Considering that Japan legalized bitcoin with other countries looking if they would legalize, btc is at very good position.

Even if it dumps till 1k$ let's say - it will recover and pass the price from where it started to raise so it will be just a great opportunity to get in and buy some more.

The only thing that can happen is that people move to alts and to sell btc because of high unconfirmed transactions, because it is expensive to transfer money, if that gets fixed I don't see any other way why would price go down at this point.

Here a real 30y bubble: Berkshire Hathaway (https://finance.yahoo.com/chart/BRK-A#eyJtdWx0aUNvbG9yTGluZSI6ZmFsc2UsImJvbGxpbmdlclVwcGVyQ29sb3IiOiIjZTIwMDgxIiwiYm9sbGluZ2VyTG93ZXJDb2xvciI6IiM5NTUyZmYiLCJtZmlMaW5lQ29sb3IiOiIjNDVlM2ZmIiwibWFjZERpdmVyZ2VuY2VDb2xvciI6IiNmZjdiMTIiLCJtYWNkTWFjZENvbG9yIjoiIzc4N2Q4MiIsIm1hY2RTaWduYWxDb2xvciI6IiMwMDAwMDAiLCJyc2lMaW5lQ29sb3IiOiIjZmZiNzAwIiwic3RvY2hLTGluZUNvbG9yIjoiI2ZmYjcwMCIsInN0b2NoRExpbmVDb2xvciI6IiM0NWUzZmYiLCJyYW5nZSI6Im1heCJ9)

January 2016: 194k
February 2017: 257k

This is about of mistake in "Electronic Currency Trading" and "investing in BTC".

https://coinmarketcap.com/

Who have fun to risk the lose of funds, there are many possibilities other than BTC.

true. there are just a lot of things that happen which can give bitcoin's demand to rise and so it did. if the japanese are already started using btc and the australians who also try to promote btc, it wouldn't be surprising to see btc moon. if btc is mooning then i guess the rest of the cryptocoins will also be known for the public.

the reason it's "different" this time are all those altcoins. the combined market cap is already going up vertically. the main question is, how artificial is this, and how many of those who bought into this recently (bitcoin or alts) will continue to hold some stake? my feeling is, it might not be bitcoin, but there is a large influx of new capital which is going to stick in the near future.

Calling 2 retailers in Japan as "started using btc" is about nothing.

We will be able to see the 5000$ in the couple of years but we need stedy adoption rate over bitcoin and number people using bitcoin also has to increase like a price bubble. BU and Segwit also pushing the bitcoin value to move forwards. Now, price almost we touched the 2000$. It may in the next year as well. Hope for the good.

I don't care how high we will go in a bubble. Cause sooner or later it will burst. This is why I hope we will see some correction and continue moving up healthy, like we did the last 20 months.
But when the altcoin bubble bursts, and it will, one scenario could be that the money which flooded into the alts may fuel the next mega bitcoin bubble. In such a scenario a price of $5k would be possible.

There is something I found specifically to show you, because bitcoin is accepted by a little more than 2 retailers in Japan:


And Japanese bitcoin awareness and acceptance still grows, these numbers might be already outdated as that article was published in early April.
Of course, bitcoin is used but less than 10% probably less of Japanese society, but it is still a reason behind organic growth.

Source: http://www.newsbtc.com/2017/04/05/japan-retail-majors-bitcoin-adoption/ (http://www.newsbtc.com/2017/04/05/japan-retail-majors-bitcoin-adoption/)

No one stop them to enter to Lithium minining and Li-Ion babberies production investing or some other places.

Please, not call exchangers and they payment systems as "accepting BTC", retailers are still in local cash.

I honestly believed it was a bubble initially, but the more I saw the price getting higher and higher with no burst, I do believed it is not the case. I also speculate that there will be a price correction at $1500-$1600, but it didn't happened. There was some resistance and correction, but it quickly recovered. I think Japan has something to do with this price hike, their trading volumes is at ATH as well. So I think we can conclude that this is not a bubble, the general public is really going crazy buying bitcoin in the market.

As You see accepting BTC trough exchangers is widely used, but no one of them is accepting BTC directly (only 2 until today).
In this mode there is nothing happend, any revolution.
The use of exchangers for payment give no advantage to BTC in front of other altcoins.

3 months. Dude. Thats just the base of the bubble. If the price doubles within 3 days and then within one again, then you can scream peak.

http://s41.radikal.ru/i091/1705/8b/fc9f03621135.png

If You strongly belief in Your Scenario, show to us some $ 10000 buy order made by You.

Speaking of the she-devil ... VK, you could take a look at https://bitcointalk.org/index.php?topic=1925320.msg19108977#msg19108977 they are wondering about SXC

That article is garbage and your conclusion is so far away from reality it hurts.
You're saying probably less than 10% of Japan is using Bitcoin?

Let's do the f math.
1% of japanese population means 1.2 million / transactions rate is right now at around 300 000 transactions a day it means:
That the blokchain would be filled up if 1% of japanese people would do each a transaction every 4 days.
And that would be only counting Japan.

10% is bullshit

There is about ability to send BTC to exchanger in possession by retailers, they have it.
How retailers deal with the confermation time is unknown for me.

Definitely, there is a reason why bitcoin price doubled in just a short span of time.  As mentioned, countries that were previously neutral on bitcoin had announced their support and acceptance to it.  They even removed the consumption tax to attract bitcoin adoption in their country. As a result, we saw bitcoin price to double in just two months.  Just wait, the increase is still not done yet, there is also news that Australia will also do what Japan had done with bitcoin. 

This means the increase is not simply a bubble that grows bigger without any reason.

Take a look at the 1 day and 1 week time interval charts. I believe the bubble is still forming. There was a correction of $800 a few days ago but the quick rebound gives me confidence that the market conditions are right. I believe the overall confidence and certainty of these traders are going to fuel a rise to 5k in the next month and 10k shortly after (could be a few days).

I don't think that it can raise that fast till 5k-10k within a month... it will have high chance of people dumping it, that will be the huge bubble...

That will just be to fast, we will need some big and good news to create that pump

The price of bitcoin is contiously increasing fasly like february the price of bitcoin will be $1000 only and last week the price of bitcoin will hit $3000 but in a short time only they cime back $2000 plus . So if bought bitcoin at $1000 and sell it today your money become doubled. And the proce of bitcoin I believe around $3000-$4000 each bitcoin before the end of this year. I think $5k dollars the price will be  at 2018.

Check out the Antonoupolos interveiw with London Real - https://youtu.be/1co_YWwDpXg (https://youtu.be/1co_YWwDpXg)

He was right on the money when he said you're going to witness these huge boom and bust cycles develop over time.

This time around, the increase in bitcoin prices is not really a bubble but infact it is a real increase in the demand of bitcoins. No doubt, bitcoin prices doubled in just 3 months but then there are few very good news for bitcoins. Firstly the idea of hard fork for bitcoin and creation of BU has failed, making bitcoin more strong than ever. Secondly adaption of bitcoin by just two or three countries has made bitcoin price and volume this much high.

Only countries adapted bitcoin and see what happen to bitcoin prices. Imagine what will happen if more countries make bitcoin legal. This will really make the bitcoin adaption and price out of imagination. I am very hopeful that many new countries like australia will adapt the bitcoins legally making it a real big currency of the decade.

We will see as 3000$ as 5000$ there is no doubt here. I suppose after such fast climbing when bitcoin reached 2800+$ price to see 3000$ price will be expected this summer already.

It is not necessary a bubble, what I mean is, yes the price went up very fast but if it was a bubble the price should have gotten a lot lower and it did not, this tells me this was real growth but it needed a correction, the correction happen already and we are still above the 2000 mark and I think we are going to be there for some time until a new rally happens once again and we finally break the 3000 barrier that we were so close to break.

The price surge over the past few months has caught a lot of people by surprise and some can't be blamed for thinking that at some point this is going to correct to more realistic levels. But bitcoin has been going on a rampage lately, largely due to higher demands from Japan and South Korea, so if the demand is there, the price is sure to reach new highs. And also, the price is still in the range predicted by some experts and still on track to hit $5,000 or $6,000 by the end of 2017.

I think 5,000 up to 6,000 is pretty huge price to reach on this year remember we are almost in middle of the year so its truly impossible to reach on that price for now since price for this rate is quite stable, Maybe on next following years we can see that price would climb for that far and surely we will be happy if that things would really came.

It's all about the panic on bitcoin price bubble and burst like 2013, That time in early 2014 bitcoin has been adopted by Apple and Dell in their site. Dell announces the information via press and on the face book page as well. This time adoptions are doing by the countries and make it legal by Goverment(Developed countries). This will not burst out and set value will be 2000$ and it will not dump lower than that.

There's really no such thing as an expert when it comes to predicting what the market will do. Any predictions on future prices are purely speculation, speculation of which is based off of subjective reasoning and incomplete information.

Sure, some people are more clued in than others, but generally if you have been closely following the cryptocurrency markets for at least a few years and have a good understanding of market dynamics, then your speculation is just as likely to be correct as any random "expert".

I would put my "speculation skills" up against any so-called expert, and I think my recent trading activity speaks for itself.

It is sure that one day or another we will see the price reach $3k or $6k , the only thing we all are waiting for is when , when will bitcoin hit 5k. See the current status the possibility of reaching 5k looks more closer day by day, all you job is to hold your money when it reaches 4k also. We would have a price of even 6k now , the only problem is people want to trade which leads the non knowledge investors think it is all over so they sell everything thus making the price to fall more and most of them don't invest again because they feel it is risky.

I agree that one day bitcoin will be at the rate of $3k to $6k a piece or even more.  It just need sometime.  As for the current rise and dip of Bitcoin I think it is more like an overbought and correction stuff.  I do not think that it was a bubble since there is actually a demand for bitcoin due to the hype from big companies from japan joining the bitcoin economy.

Long term investors are looking for cheap or low price,so investors need more sell orders come to market and fill their buy order.After checking current weekly chart traders can see signs of pressure over sellers.It is simple formula: For every buy order you need sell order.If you can access the depth of market,dont forget to check total sell orders compared to total buy orders. Current correction mood is necessary to create impulsive uptrend wave.

to me the bubble was very suspicious be ause it happened so fast which makes it look like something is about to happen even the panic buyng of the japanese. if its just the japanese it should have gone up to 3k by now but seem to have slow down this time.

This is actually like a dream. Bitcoin prices have increased remarkably. We all certainly did not expect this to happen. Currently bitcoin prices have been a few days stable in the range of numbers 2200USD to 2300USD. This is a good rate if it can last for some time, the possibility to rise even more increases.

The price was going up quite quickly, but it has already corrected some and seems to have stabilized around the $2200 range. Due to this stabalization, I don't think we are in a bubble at the moment. I foresee the price starting to slowly climb over the next month.

things really slowed down after the correction and we seem  to be having a slow but steady rally heading towards the $2500
mark, i guess we are likely to see $3000 before the end of the year as we wait for segwit activation and chinese exchanges enable btc withdraws which is likely to stimulate demand.

Nice to hear that most readers of this topic converge in opinion about bitcoin price increasing. It`s hard to predict if price in this year will be 3000 or 5000 USD, but but the forecast is clearly comforting.

Bitcoin price double is not bubble.bitcoin price increase because Japan adopt bitcoin.bitcoin price is now pretty much stable and I don't think bitcoin price will be drop from this position.I am pretty much positive this time I saw some people said bitcoin will reach $5k, I think still have chance to increase price and reach $5k.

I wouldn't call it that it is stable, how long was it stable? Few days exactly it is hard to predict as you never know where will the road end. Specially when btc is still in its early phases of adoption. Although I agree that Japan had major impact on the price spike recently.

Yes, no doubt bitcoin will even cross that limit of the price. There are people who talk about the bitcoin that the bitcoin price increase is a bubble and stuff like that, there were some who used to predict it to all that the bubble is going to burst and such like things.

I was astonished to see that many of the people believed them and they use to say that they are right, without inspecting the demand of the bitcoin.

It has been under controversy for a long time after the price growth begin from $1200 and moved closer to $2800. As people say if it's a bubble now the price could have crashed. Right now the price is showing uptrend causing a big move towards the past ATH.

It of course was the Japanese demand for the Bitcoin which made a record hype to the price of the bitcoin. Saying that it was sort of a bubble which burst will not be fair at all. Yes the Japanese demand brought the Bitcoin price above 2K and this is what was really expected by the economists and the analysts. There still is a lot more scope in the price of the bitcoin which people yet have to experience.

I also think that prediction is also on the high side, but bitcoin keeps giving us surprises, to be honest I expect to see a price of 3500 or 4000 at the end of the year but if something really good happened then the sky could be the limit, so like always we must take this opportunity to buy even more bitcoin since we do not know for how long the price is going to remain at this price.

Well if this 'bubble pops' and the value crashes, it's buy time for everyone, so another bubble begins  :)

It's obvious that it's a bubble. And in my opinion the correction already came and we are going into another bull run.


This is exactly what's happening, basically. Everyone knows that they need to get cheap coins. So even if the price crashes by just $300 everyone rushes in to buy some coins, meaning that the price goes up up again... I have no idea how long this will last but it's not forever.

True and I think many bitcoin users are ready for that.
Considering there have been a lot of profits from this increase, the capital was already returned and more money to come.
If it is really a bubble that will explode thenusers will be running to buy back.
But in my own speculation I think it will be for a long time. The value will grow more even if it is expensive the demands are still coming.

That has been the recurring theme with Bitcoin. If you have some money, just wait for a correction before you buy.
In the long-term, the trend of bitcoin's price can be in only one direction - up.

This is not a bubble it's mass adoption. More people and countries are getting on board so mode money is coming into bitcoins. Look it up. This graph is normal.

Yeah, this is not a bubble, it's the cause of entire adoption and the incoming of investment into the digital currency network. Some interpret it as an bubble just because of the growth in terms of big margin. If this is a bubble, by now we could have felt down same as the time when the very first ATH took place in 2013.

There were definitely a lot of hype and buzz about the price level. I think it is completely legitimate because we have already recovered from the correciton and the price seems steady, but with no further major bull market runs after that recovery.

I do think that we won't see anything under $2000 soon.

$3k is entirely possible but in my opinion that's not the natural price at least in the short term. $5k? Probably not until the next halving imo.

Seeing the recent rally then i think 5k price can be seen long before 2017 ending and this bull run is legit as their are so many developments like Japan accepting bitcoin as legal currency and development in this country is getting fast apart from this their are lot more other country also who are starting to accept bitcoin as legal currency. so any high price is possible in coming days.

I am also confident that Australia will soon give a good impetus to the cost of bitcoin. It remains for us to wait very little to see this. And after that, maybe other countries too will want to legalize bitcoin

I do think the price will even go above the $5k level this year. 2017 is literally the year for Bitcoin. But after this year, I don't see much increase in price. Next year will be a bad year for many who will plunge into it with all their investments, thinking price will continue to rise. Next year will be for the altcoins to blow...

I think bitcoin can reach 5000 before the next halving, the rate of growth of bitcoin per year in the last year and in this year has been nothing but impressive and when we take into account we are only at the middle of the year and we are still to get some kind of solution to the scaling issue, I think if we are able to get segwit activated before the halving we will see the price double in just a few months.

Well if it doubles again in the next 3 months then it will obviously go over 5k, but if it keeps rising so fast of course we will see major crashes. Personally I think a price of over 5k this year but we will also see it fall very hard but probably not lower than 2k at its new lowest. A scaling solution would obviously pump it but more importantly a positive ETF decision would as the scaling issues doesn't currently seem to have affected the prices at all.

are you sure, AFAIk there not any guide that tell us that if the value skyrocket in 3 months by 2x we are in a bubble...obviously this would be stupid

there is no time frame to estimate that, it can be a natural growth for all we know, you can't be sure

if we crash again like the last time from $2500 to $2k, it could be seen as a price correction, in fact the price recovered, as a long as the price recover, it's a price correction