Bitcoin will top off at $700

[Trance]

then back down to $250-390

[1713407097]

1713407097

[visual111]

700 would be nearly a 300% increase. i don't think it'll happen that fast. maybe before the end of the year, but not on this run up. we'll probably see a retrace by the weekend

[Harry Hood]

then back down to $250-390

Bold call, what's your reasoning for that resistance level?

By the way, you're taking the fun out of things with your "...then back down to $250-390 level" comment.

[ajareselde]

then back down to $250-390

Bold call, what's your reasoning for that resistance level?

By the way, you're taking the fun out of things with your "...then back down to $250-390 level" comment.

I think it's a bit too optimistic to predict such price level just yet. As far as i am concerned, it we end up having support ~400 and not fall down again, it will be
good enough, and more "healthy" for both the market and bitcoin trending.  Pure pump of the price doesn't mean much with thin support behind it.

[Harry Hood]

I think it's a bit too optimistic to predict such price level just yet. As far as i am concerned, it we end up having support ~400 and not fall down again, it will be
good enough, and more "healthy" for both the market and bitcoin trending.  Pure pump of the price doesn't mean much with thin support behind it.

Agreed, we need a rocky progression otherwise we'll fall hard. A mountain built on a wide, rocky base is much stronger than one built on a thin base.

Any thoughts on what's causing the run-up this week?

[Snorek]

For now price increase in insane. Week ago I wanted to buy bitcoin for £200 an now it is worth £280, it is insane.
But I suppose it price will drop significantly when news about Bitcoin ban in Taiwan will reach general public.

[Mieehayii]

bitcoin is crazy now

[spiderbrain]

bitcoin is crazy now

Bitcoin has always been crazy. It's just so crazy that sometimes it pretends not to be crazy to drive you crazy.

[cmacwiz]

I do feel sideways and then a dip  after hitting $700. Then down to $500 and then the real run ($5k) will begin!

[Gronthaing]

For now price increase in insane. Week ago I wanted to buy bitcoin for £200 an now it is worth £280, it is insane.
But I suppose it price will drop significantly when news about Bitcoin ban in Taiwan will reach general public.

You think it will have much impact? Doubt it will stop the rise while china keeps buying like it has been.

700 would be nearly a 300% increase. i don't think it'll happen that fast. maybe before the end of the year, but not on this run up. we'll probably see a retrace by the weekend

Yes it will probably fall again by the weekend. But don't know if it won't continue to go up after. There is too much buying going on.

I think it's a bit too optimistic to predict such price level just yet. As far as i am concerned, it we end up having support ~400 and not fall down again, it will be
good enough, and more "healthy" for both the market and bitcoin trending.  Pure pump of the price doesn't mean much with thin support behind it.

Agreed, we need a rocky progression otherwise we'll fall hard. A mountain built on a wide, rocky base is much stronger than one built on a thin base.

Any thoughts on what's causing the run-up this week?

Probably china.

[zimmah]

ah man all these bears are funny

we're in bull mode right now, bears have had their fun for the past 2 years.

[dothebeats]

I do feel sideways and then a dip  after hitting $700. Then down to $500 and then the real run ($5k) will begin!

I feel a hard crash if resistance wont be built immediately. Some traders would already consider a 100% gain and sell. I'm dead sure that this is just another test pump to see how the whole market reacts. and, halving is getting closer every single day. This is a good preparation for it.