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Based on the prediction from CitiBank Managing Director we're just an year away from the time period stated by him to reach the price of $318000.
From the current price the market needs to grow around $25000 every month.
Do anyone think this is possible with bitcoin. Maybe this can happen for a month or two, but something stable for such a long period isn't possible. Bitcoin isn't same as other low rated cryptocurrencies to be manipulated for reaching big values.
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This time the altcoins growth isn't much on the positive side depending on the growth of bitcoin. There is growth, but the same isn't that big as the market experienced earlier when ICO's were in the peak. The biggest expectation is upon ethereum, when there is growth with ethereum automatically the same will take place with rest of the altcoins. In recent press release, Vitalik has stated about the early update and launch of ETH 2.0 than expected. This will to make a big change in the market for ethereum.
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Since 2018 for the first time bitcoin has crossed the $18000 tag. The price stood above $18000 for some time period reaching around $18300 as the max. Now it seems to stabilize around $17500. Possibly the price movement will fluctuate within specific range for some time before heading up for the new high for the year. We can believe the market to move slowly reaching $19000 - $20000 before the ongoing month end.
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Both were leading exchanges of the cryptospace. These exchanges contribute a major reason for the pump and dump of the market. Investing over both the altcoins is really a good choice, because when something is backed by the exchange it gains more trust than other altcoins.
Considering the present value of Huobi, the growth percentage reached is around 70% whereas BNB constitute for a 20000+% of growth from its base price. Maybe in future this can happen with Huobi, but at present BNB seems to be a better choice.
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Whenever the market turns bullish more volume of money gets poured into it. This further pumps the market price of bitcoin. Same is taking place at now. Whether the market provides them with the profit isn't prioritised by these people. Anyhow these kind of act also seems good to push the price high and make a new ATH.
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The chance of Amazon to get into the bitcoin acceptance on business isn't gonna happen unexpected or in a short. Already Amazon have created its inbuilt wallet that gets used similar to the Alipay. Those are just the digital form of fiat that can be added to the Amazon Wallet and can be accessed with ease. Possibly Amazon will try to have its own cryptocurrency and bitcoin into the business.
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No one knows about the market condition. Everything is associated with the market. Considering the previous bull trend there is more chance of reaching above the ATH. During the previous bull market there is sudden growth in $1000s which took the price cross $20000+ in few days time. This time we aren't into such pattern of growth. We've experiencing stabilized growth. Upon this there is possibility to touch $20000, but in a slower pace.
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This can be considered the right time to analyse the true need of people and make ourselves prepared. As people are available online and more have come to know about bitcoin and other cryptocurrencies, surely it'll be better to develop as per the necessity of the people.
Releasing a project by this time period isn't gonna reach people or the cryptocurrency users easily. Whether it is now or then, surely everyone will look for the purpose of the project and the return one can get.
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Various insurance projects have come out developed over blockchain. These are just the insurances that can be paid with cryptocurrency and their own tokens. Few were under good expectation, but things didn't worked out at the end. When we talk of an insurance for bitcoin, surely it won't be realistic. Even if such an insurance service is developed, certain rules and regulations will be written so to have a processed claim than just claiming when price falls.
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Even before the market turning bullish it even touched the top order in terms of market cap. By the time I think it reached the sixth place based on its marketcap. The position keeps moving as the market is highly fluctuating. Marketcap falling below 20th position isn't gonna contribute anything big to the market. If the trend change, parallel to that will be the marketcap.
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Paying with bitcoin for passport is a good step forward. Bitcoin as a payment for name change, renewal and few other services might get followed by more other countries. Now these service providers will accept bitcoin through a third party and then pay the government in terms of fiat. Somehow this is good for bitcoin spreading.
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Real estate doesn't have an universal value, whereas bitcoin has the universal value. Real estate value varies on the development around the property. With real estate too, the demand to supply cause the rise in the value of property. With real estate the market decline won't happen in a short, possibly there'll be growth. With bitcoin there is chance of rise and drop in the value.
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More than the team members the core of the project is much important. When the project has good thing, automatically there'll be growth. The team member's role is to gain more trust to the project. In order to gain trust it is a must to have some reputed members on the team. This is where the team gets importance, apart from this the project is valued on various other aspects.
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Few IEO doesn't have any real-time usage, but the launch through the Binance launchpad gave it big growth. Binance IEO isn't over, even now often some were launched. The importance has been lost, because few termed to be worthless later with initial pumping providing higher profit. The trust over Binance is still alive which makes anything on Binance to be successful.
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This time the market of ethereum will go along with the rise in value of bitcoin. There is growth with ethereum from the beginning of the year, but those are very limited compared to the growth of bitcoin. Now we can say there is mutual growth, and if the bitcoin gains stability above $16000 we can expect ethereum to reach $500. Further depending on the market will be the reach for $800+ value.
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So why do you think Bitcoin has value? Bitcoin keeps growing because it has key fundamentals that fiat will never have because unlike fiat, it cannot be used for massive printing causing hyperinflation. For now, fiat can be useful but someday it won't. Due to depreciation while bitcoin will gain more higher prices cause its limited, scarce and have much superior technology.
The increased demand and the limited supply is the reason for the rise in the value of bitcoin. The value of bitcoin will grow with time, bitcoin isn't an investment. The core reason for which its been developed is different, but things changed in between due to its tremendous growth. This has made people prioritise it aas an investment. |
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The target for the year seems to be above $20000 based on the ongoing market condition. By the starting of the year there is big expectation and predictions for the year was quite high. Later this predictions were changed when the pandemic caused a heavy blow over each and every sector. To this everything happened opposite, with bitcoin growing slowly and gaining good stability.
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Unlike any sort of market situation it is good to hold any of the top listed altcoins. The year 2020 is stated to make big change in the entire economic situation. But, the covid-19 spread made a big crash in the economy. By the time bitcoin and other cryptocurrencies had good growth. The market is much more valuable than the past, as people are more actively using cryptocurrency. Hope the growth happening by now will be taken forward to 2021.
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I am just like you OP when I was also new in bitcoin. I did lost in investment as I was so hot believing on the FOMO or HYIP. Yet, I did not regret and instead I learn to it and now still alive and kicking with bitcoin. If you really wanted to learn about bitcoin then take it slow and observe the market first. Later on you will be able to understand and grasp the bitcoin system and will be amaze what could it bring in the future or at the current time. We do not know what will going to happen with bitcoin but for me this is something very big.
When one is new to bitcoin, easily they get under traps. This very first involvement into bitcoin usage at times end as a big failure or loss. This happens as a result of the users mistake, and the same makes people term bitcoin as scam. Once after such an experience very few will continue to use it. This is where people require good learning about bitcoin. |
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American election is just a speculative subject that drives the market in either of the direction. With time the market is gaining more and more strength with the increase in adoption.
American election is predicted to make big change. Throughout the year bitcoin was progressive compared to other forms of investments. Upon the same the presidential election has also made a small price pumping which we're experiencing right now.
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