80 percent bitcoin has been mined and in circulation so bitcoin is in abduant circulation there is no scarcity
There is scarcity in the market, that's why one coin costs almost $9000 currently. Not everyone has $9000 to spend, so being able to own just one Bitcoin is a dream for many people. That is scarcity. Even with 80% of all coins being mined, an estimated 5%+ of the total supply is already lost forever (assuming satoshi will never use his coins, let's be honest, he was a genius. He definitely has the private keys still). Many others are hodling coins too, which means they are not technically in circulation until they are moved. There are 10s of thousands of Bitcoin addresses that hold a very large amount of coins and they haven't made any transactions in years. The halving takes place in two more years as well, so the influx of new bitcoins from any miner that sells will be cut in half. The market will be flooded with fewer coins, and hopefully, adoption has continued to increase by that time. Bitcoin will be way more scarce than it already is by that point. |
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it's a very good news or news story to start bitcoin up again, and indeed I think bitcoin will be able to recover up to $ 20,000 and even more by the end of this year.
I am as optimistic as you, it is just that i think it wont be this year, i hope i am wrong. My period for new ATH is around 2020. And 2022. i expect at least 50k I agree, we likely wont return to the ATH this year. We could still very well be in a bear market. I also agree that we would hit a new ATH by 2020. However, I do think we would be far beyond 50k by 2022. Yeah I know, past performance does not indicate future results, but Bitcoins price has historically grown exponentially and settled once every 3 years. 2009 - 2012 - 2015 - 2018, once every three years the price is way higher than the 3 years before. Considering Bitcoin Hit a high of 20k, and could settle at $5k over the next months, I imagine the price being close to $100k by 2021 - 2022. Likely due to the market finally reacting to the Block halvings affects and increased adoption by that point (assuming adoption continues). |
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Bitcoin will continue to dominate the crypto market. Because interest in Bitcoin always goes up every year. And the second position of dominance is still occupied by Ethereum.
Not only this, but Bitcoin is the cryptocurrency brand. It has the most secure network out of all the other coins, and it has adopted by many people. Definitely has the first mover advantage. I do honestly think Bitcoin will always be the #1 coin on coin market cap. Bitcoin will be a huge store of wealth and the reserve currency for the world. It will continue to eat into golds market cap, becoming the best store of value in the process. |
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I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?
From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k. |
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If you are talking about the last bull break, I think it mainly happened because of technical analysis. https://gyazo.com/d30b3821a7adc48a7100094c3cb536e5There were good news and some good rumors about bitcoin, like soros getting involved and other names and that certainly helped the break to be a bull break rather than a bear break. Also the fact that this time we did not touch the last bottom of 6k was also a strong signal that we might see a bounce. Technical analysis is rarely right, but that one was a good prediction. I was sad to see we didn't touch the 6k bottom. I was fully expecting it and waiting for it... My mistake. I wonder if it was due to Soros &co buying some in bulk, but on the contrary, I do hear a lot of whales trade OTC. |
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Is this entire a thread an ad for GSC? Not everything needs to be blockchain based, a lot of these companies add it as just a buzzword.
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Bitcoin does not care what the market thinks or what the news says... Who knows what the reasons could be. Maybe it's because of the end of the tax season? Probably not, considering a large percentage of trade volume is based outside of America. Its likely due to the market recovering due to an overcorrection, as others have stated.
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Who cares who Satoshi is. If he doesn't want his identity known than so be it, we should respect his privacy. He created something wonderful for all of us to use and has liberated us from the traditional financial system. He has given us a choice of currency for the first time. Thank you Satoshi Nakamoto!
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The market has already declined significantly since the Dec ATH, so possibly it already hit the bottom and we are in for a bull market. I do hope the increasing Market cap is a sign of this, but this could simply be a bull trap and the downtrend could continue... But shouldn't this be in Speculation?
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Yet another CEO trying to guess the price of Bitcoin...nothing new here. The article would've been a lot more interesting if it wasn't for the fact that he's repeating the same price target by giving the same old reasons as everyone else. Btw, why does everyone keep saying " 250k by 2022"? Even after Bitcoin goes mainstream worldwide, 250k still sounds far-fetched to me. Yes, I support your idea. Speculation in bitcoin by the end of period is just a hobby of popular people and analyst in bitcoin. This is not new to me and I predicted it that the good news for bitcoin will impose if there is a sudden change with its price. 250K usd is really far from reality. Imagine how many millions it will jump in just a couple of years? That is impossible. I agree Bitcoin will likely never be worth millions of dollars unless the wealth of the world was converted into Bitcoin... Which is highly unlikely. $250k is a crazy number as well, but I personally believe it's not too far-fetched. I can easily see Bitcoin being that price within 5 - 10 years. The crypto market is here to stay, and will not be going away any time soon. On average, YoY it grows significantly. I feel as if this is because slowly but surely people are trusting these cryptocurrencies more and more. Many are slowly converting some of their wealth into crypto, as their trusted friends do the same over time. Eventually, it'll get to a point when people can invest a % their 401(k) portfolios into the cryptocurrency market... |
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My crystall ball says that its going up but its little cloudy for now.
I am holding from 3000$ so its not a problem if it drops to 4500$ but sure its going to rise in this year.
Ethereum is also start to rise and lets hodl all together.
We can't have a rise yet... I still need to buy some more. Everything is looking like a good buy, but Bitcoins market sentiment seems to be very bullish. Its good to see so much support at $8000. |
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This is really interesting. Price swings are getting tighter then ever.Price is going to break out to a way but i am not sure which way it will go.
I hope its going to upwards and give some profits to me. But if it breat out to downwards we will hit 4500$ for sure.
Yeah, we are about to see either the next leg up or down... 2013/2014 bubble tells me we would be heading down, but obviously the market is significantly bigger and different this time around. We could see a slow rise over the next year if the market has truly turned bull; $25k - $30k could be a possibility by EOY. |
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This is a huge statement especially coming from IMF chief, and that is a signal of the times changing for bitcoins. There is no doubt bitcoins suffered due to the fud in the earlier years, but now I feel people at high levels are coming to support the king. I feel a good time to buy, Bulls are coming, hodl and see the profits. Attaching the link for everyone: https://www.marketwatch.com/story/bitcoin-gets-boost-from-imf-head-2018-04-17This is huge news. The sentiment of Bitcoin has shifted to be significantly more positive than what it was years ago. I'm sure the IMF chief is saying this for her own personal gain, whatever it may be, but still, a positive public statement from them is great! The best time to buy Bitcoin is now, and tomorrow, and every day after that... |
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The beauty of cryptos is that regulation cant kill them. Even if the governments bring in extreme regulations and make it too hard to own a crypto currency, the decentralized nature of it will come handy and there will be no way the governments will be able to control the flow of the coins.
I agree with this 100%. If regulation becomes too intensive, it can simply be ignored, at which point regulators will have to compromise. For example, if Litecoin developed widespread usage and developed overly strict regulations, users could simply migrate to an unregulated privacy coin which would be a nightmare for the regulation bodies. The democratic ownership of crypto really evens the playing field. Even if there are strict regulations for crypto, it could really only be for exchanges that offer Cryptocurrency trading. As Msile said, the decentralized nature of crypto-currencies prevents regulation of crypto itself, as regulators cannot stop the P2P transacting that takes place amongst the users. So a privacy coin may not even be necessary if you can avoid using regulated exchanges. Rotating addresses already make it tough to spy on balances for one single user. However, it would be great if more enhanced privacy features can be implemented into Bitcoin or Litecoin like Bulletproofs. |
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I'm interested in joining this campaign:
Bitcointalk Name: BitcoinNewbie15
Rank: Sr. Member
Post count:397
Bitcoin address:bc1qacsqt9mqjf3jz3kqxeu66lnpknlymssy2fzwtt
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My ludicrous speculation is the winter of 2020 after the halving for the next official bull run. I reckon the price will brush $70-90,000 and then fall back to $20,000 ish.
However it's easy to forget the ever dwindling inflation. By that date only 10% or so of coins will be left to mine and there'll be well over a century left to mine them. Perhaps our epic predictions will be blown out of the water because of that.
This is the strongest case for Bitcoin i'd say. Dwindling inflation is a massive advantage of Bitcoin as being both a currency and store of value. What I have noticed is it seems like it takes several months for the market to react to the block halvings. Bull runs usually happening several months afterwards. $70k - $90k by December of 2020 seems very reasonable. At the current rate, the halving is scheduled to take place in May of 2020, and blocks have been being mined faster than the average block time, so possibly even sooner than that. Regardless, I do think Mcafee will have a full stomach at the end of 2020... |
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Hey there, I would be very interested in joining this campaign! I have been waiting for an opening and will gladly change my signature just in case I am accepted!
Username: BitcoinNewbie15
Post Count: 396
BTC Address: bc1qacsqt9mqjf3jz3kqxeu66lnpknlymssy2fzwtt
Thank you for the consideration!
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Blockchain.info has been notorious for providing inaccurate information. You have to get your information from other sources.
The network hashrate can't be calculated accurately. The calculation is mainly done by referencing the block interval and also the difficulty. As a result, if varience is such that the network isn't producing block so frequently, the network hashrate would appear to be lower.
Ah very interesting. This is some very good information, I was not aware of how the hash rate was calculated, thank you! Do you have any personal recommendations for alternatives to blockchain.info? |
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Where do you see these numbers? Within the last 24 hours,
Therein lies your problem. Your sample size is not large enough. You can't just say "daily transaction count has dropped" from just looking at one sample. This is simply variance, some days people decide to make less transactions. Such statistics can also be effected by the software that is measuring those numbers as they can be incorrect. Blockchain.info. They have a continuous live feed of bitcoin transaction that has taken place within the last 24 hours. every day since 2015 it has been significantly higher than today's rate. I thought it might be variance as well, but this to me seems like it is something more than just variance. I am legitimately concerned about the current state of the network, I do very so hope it may just be an error in the software they are using to report the numbers. Edit: https://blockchain.info/charts/hash-rate and https://blockchain.info/charts/n-transactions |
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Bitcoin has had a significant drop in hash rate and the daily transaction count today. Within the last 24 hours, the daily tx count has dropped by 78% going from 180,000 per day to less than 40,000. We haven't had transaction volume that low since 2014, and have not dipped under 100k per day since 2015. Currently sitting at 37k transactions in the last 24 hours. The hash rate has also had a near 66% decline and is currently at 10 exahash/s down from 30. Does anyone have any thoughts or ideas as to what may be occurring? Why have the daily transaction count and hash rate dropped simultaneously?
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