ETH is encountering support now could be the bottom, millions of dollars can be made from what happens in these next few hours.
I think eth will go back to $4-5 because the daily supply is greater than demand until some serious use cause gets adopted |
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I would imagine the large numbers of new people to crypto who are involved with Ethereum has more to do with pre-christmas price drops. Most of the cash purchases for ETH have dwindled in the run into Christmas - because these people have switched their spending to Xmas priorities (gifts and family expenditures). This tends to effect most crypto's big in the Western spheres and Eastern spheres. After Xmas ETH price will pick up again  Then, there is POS implementation at end of Feb or beginning of March. It should be remembered: Proof-Of-Work System does need to raise a lot of fresh cash from new purchases. When Ethereum goes to Proof-Of-Stake, it will no longer need to raise lots of fresh cash from purchases. This correction should be used to make some profits. And yes people do liquidate some of their investments during Christmas and New Year. A lot of people get given money as gifts and bonuses from employers around the Xmas and new year festivities also.... Some of them may choose to invest it in crypto whether there is a price drop or not... Don't count on much price drops as existing holders will simply hodl rather than dump for cheap if there's no money on exchanges etc |
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Do any of you that follow the price of Bitcoin closely think that the price will ever drop back down to $500 or something close to it? And why or why not?
no because of one simple reason: price is $760 right now and lots of people have missed the chance to buy and are dying to get in, now imagine price going down to $710 lots of people are lining up with money in hand to buy bitcoin. it goes to $690 even move people are lining up and at some point it is no longer possible to lower. it is called resistance. Finally, someone else understands..... Too many threads about people waiting for $100 - $500 bitcoins when the market is very clearly moving in the opposite direction... This is gentlemen! |
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Stick a fork in it
You still have a fat cock in your ass for ethereum.... You should try to relax man, stress kills... |
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If the price breaks 800 in the next few days, 600 maybe going into the history books, never to be seen again....
Buy some btc before the whales move in and price them out of reach for the common man, or don't up2u
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All indicators shows that it is time to leave the train.
SHORTS OPENED..
Talking the opposite of your book lol |
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Never say never. It is bitcoin - where psychology of the crowd can dictate price even if nothing really happens.
We can have so disastrous bitcoin news: exchange hack, totally unfavorable antibitcoin law introduced or things like that.
It would easily make price crumble.
A ban on Chinese mining would actually help price in the long run by redistribution of the mining power around the world, but I wouldn't want to wait on that happening while the price is steadily rising anyway.... Good luck if you want to wait for $500....i think $1500 is more likely to come first |
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If your going to buy, buy now!
Or you can join the club of people
who missed the train to 10k
Price in China has broken 2 year highs and
Around the world records are being broken
Every week on localbitcoins.com and just about
Every other metric you could measure
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The trend has been over 20% every quarter for the last year so I predict within the next 90 days we will get to at least $900 because adoption is picking up worldwide...
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50K??? I never believed the experts saying that Bitcoin will rise to an incredible amount in the past years, but this is the first time I finally am. Do you know why? Because halving happened in 2012 and look at its aftermath. Look at how the Bitcoin industry has totally changed since then, into good! It's just becoming better and better. I feel like the next few years will see a price OVER 100K$. Sounds like a lot, but this type of thing already happened in 2013 and why would it not happen now again?
This is unlikely unless Bitcoin undergoes serious improvements which might require a few hard forks in the interim. To reach that price ($100,000 or anywhere of that order), Bitcoin adoption should expand dramatically. Since its current adoption is tiny, with only a few hundred thousand people actively using it, this per se is not totally impossible. So, the adoption could hypothetically increase to a few dozen million users in a relatively short period of time, say, in a couple of years, for example, due to a major currency crash or something to that tune. And then such prices could be potentially reachable... But Bitcoin is simply not yet ready for such level of adoption Gold does not have scaleabilty or any of the attributes bitcoin has and yet it has managed to gain a high level of market cap.... Put simply, btc doesn't need mass adoption to become highly valued.... Adoption is increasing steadily anyway, the value of the diminishing supply is rising... Gold, unlike Bitcoin, has intrinsic value, and that's one of the reasons why it doesn't need a worldwide adoption (though it already has this level of recognition). Bitcoin, on the contrary, can get true value (apart from a speculative one) only if it will be used for the purposes it was created for. Namely, to be used as a means of payment, i.e. a currency. But a currency should necessarily get a widespread use just to be considered as such (let alone to become successful) since it gets its value only through such use... In this way, gold and Bitcoin are basically in different weight classes, so to speak Gold is Gold, obviously..... A few thousand years head start on gaining popularity is not something that can be easily surpassed.... But gold has so many disadvantages and Impracticalities is where btc takes the lead... If I bought gold when I bought bitcoins in 2011 I would have missed many thousands of % in interest... Gold is OK if you think 1-2% a year is a good ROI If you want exponential gains, btc will provide you...  |
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Most people are relying on faith, which in my opinion is something they should not do
Faith might be called as speculation, and that's what bitcoin is based upon. So, if relying on faith is not correct according to you, then 1000 USD would not have been possible before. You are right. But even within the speculation, we can distinguish between bets that are relatively safe, and these that are completely wild, not based on any (reasonable) arguments. I can write, for example, that the price of Bitcoin will be 3000 USD next. I'd love that prediction to come true (and I guess everybody around in here), but I know that this practically impossible. I have a lot of evidence around that makes me think that the price won't rise to $3000 next year. Never say never in bitcoinland  Mass adoption hasn't even kicked in yet so The only users are STILL mainly crypto geeks... |
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It is possible to drive the price of Monero up by accelerating its demand. It is in the best interest of a large holder(s) to drive the price up since it is relatively cheap way to inflate the wealth of a Monero whale. And the rising price will attract more people into Monero which will further drive the price of Monero higher. [...]
Interesting line of thought. This argument however only flies when the whales are already owning their stake in Monero. Because of the recent pump, Monero got on the radar of a number of new people. Surely some of them being Bitcoin whales. These whales obviously want to pay as less bitcoin as they can for their admired stake in Monero. Now their problem is that the price still is more than 5x the price before the recent pump (+0.01 btc instead of 0.002 btc, even worse in terms of dollars). Therefore I expect a constant xmr/btc price pressure applied for the next six to twelve months, especially with a still bullish Bitcoin after it's painfully long bear market. Whales are way more patient and experienced than average Joe traders. Disclaimer: I have my fair Monero share so I don't care much, except for the fact that I might currently be a bit over-exposed in Monero because of the recent rise in price.The only way a bitcoin whale can drive the price of Monero down is to open a significiant short position. The problem with that strategy is the interest payments which might be significiant in large position and the fact the whale is "underwater" when he start buying Moneros (he has to cover the short first). Therefore, the way a whale should play the game in my opinion is to accumulate some, then accelerate the accumulation which drives the price up but also increases the netwealth of a whale. Bear in mind, when the whale drives the price of Monero up his stake in Monero grows as well. The only problem a whale might face is the whale competition. How many xmr would you need to be classified as a whale thesedays? |
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The y axis (time scale) doesn't have any markings. So it is not possible to infer when the price will cross $1Mn from the chart. In any case, I am ready to wait till 2025 if it means I get a windfall after that. Nice chart, I'll take it ...  |
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It is more stable and might just rise 20% every quarter.
Wow I thought I was bullish. Starting at $740 and compounding quarterly at 20%, in a year we'd be at $1535USD, a new ATH. That's $2075CAD at current exchange rates. Nice to dream about but I wouldn't bank on it. I think 20% a quarter is realistic We have yet to reach anywhere near the required levels of adoption but a lot of new services are launching soon |
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What I found really interesting was the introduction by O'Brien Makore. He is a young enthusiastic Bitcoin supporter in Zimbabwe who believes that Bitcoin can help the people of his country. The reality is very different: If even a small percentage of the population of Zimbabwe actually use Bitcoin the Bitcoin blockchain with its 1 MB blocksize limit will grind to a halt. Wait a minute blockchain.info is showing over 80 K unconfirmed Bitcoin transactions at the time of this post. https://blockchain.info/unconfirmed-transactionsOnly 2800 unconfirmed on my node, no big deal.... Roll on larger blocks! |
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Well just have a faith for bitcoin upper thrend for now its surely well go for the speculated amount but we cannot assure on what year, month and day will it occur, but i cannot really say that this current price well be his toppest price since the adoption still up and price plays on the good level so expect we can see more top in this incoming days maybe the time for that is not for now but let see what will happen on december.
basically what you are saying is have faith, it will grow for sure. It doesn't work that way, sorry. Wishful thinking is one thing, the other thing is what is on the charts. And that doesn't look good. Point. Theres no really need to have faith because it will surely rise up on the future. Reaching 1k price is possible though but not the same on the previous years which it went up on that price and sudden dumps and for now its not like the case because bitcoins price do have a good support and resistance we cant see anything like what happen before. It may rise but not in a forced or hard way.It will be gradually. We have support? Based on what, if I may ask? In last six month (i.e., after announcing Segwit) nothing new fundamentally important has been put on the development side. That means that all the support we have right now, is similar to the one at the halving pump. I will remind you, we even reached $800 to go down $500 shortly after. I wouldn't be very surprised if the story repeats soon, as the correction is due. 500 would be a great buy in for a lot of people who missed it the last time, if 500 is visited again it wont be for long..... But realistically 600 is probably gone too.... |
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Researched. It is almost most certainly someone spamming up the chain. Unless you want to tell me that we have *genuine* users with multisig addresses that are dormant for months and suddenly create over 1k transactions each during those two days?  Let's assume that someone, or some entity, starts openly sending a huge number of transactions (on the order of many thousands) with hefty fees between just two addresses. Will miners continue to confirm these transactions when it becomes absolutely clear that exactly these transactions are causing the congestion? Or would they choose to ignore them altogether even despite the fees which might be higher than fees of most other transactions? In other words, could there be a blacklist of Bitcoin addresses? Miners will consume the fees gladly if two people are paying over the odds to play Ping Pong with their bitcoins.... Under the current economic law the persons who pay the most go first and I guess they will run out of money (btc) before the miners will say no thx... If these Bitcoin Ping Pong players also happen to be miners (or just one miner with two wallets), they might never run out of money at all. I guess that would be a working (allegedly) concept of perpetuum mobile as it can be applied to Bitcoin payments. So it all inevitably and invariably comes down to some rogue miner (a group of miners) wanting to artificially raise fees, earn money, and make it look like Black Friday... What do you guys/gals think, is it feasible (possible)? Its very possible that miners could be involved in this game... Nobody will complain while he is making a few thousand dollars per hour from inflated fees.... |
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Researched. It is almost most certainly someone spamming up the chain. Unless you want to tell me that we have *genuine* users with multisig addresses that are dormant for months and suddenly create over 1k transactions each during those two days? Let's assume that someone, or some entity, starts openly sending a huge number of transactions (on the order of many thousands) with hefty fees between just two addresses. Will miners continue to confirm these transactions when it becomes absolutely clear that exactly these transactions are causing the congestion? Or would they choose to ignore them altogether even despite the fees which might be higher than fees of most other transactions? In other words, could there be a blacklist of Bitcoin addresses? Miners will consume the fees gladly if two people are paying over the odds to play Ping Pong with their bitcoins.... Under the current economic law the persons who pay the most go first and I guess they will run out of money (btc) before the miners will say no thx... |
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