is this the begining of the rally?

[Superzpay]

I think the rally has been started from the previous month and so the price in increasingby $100 every month and I think it will continue till the end of this year, or in halving we will see a big rise up.

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[~Bitcoin~]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

[d5000]

while i agree that a big part of rise is hype but you can't deny the massive reduction in creation of new supply

Yes. But. 

Actually Bitcoin's inflation in coin supply is about 10% per year.
After the halving event, the inflation will be about 5% per year.

That means: Objectively, the halving should drive the prices up about 5% per year. The rest is hype - we're already up more than 50% from 2016's low.

[Hunyadi]

while i agree that a big part of rise is hype but you can't deny the massive reduction in creation of new supply

Yes. But. 

Actually Bitcoin's inflation in coin supply is about 10% per year.
After the halving event, the inflation will be about 5% per year.

That means: Objectively, the halving should drive the prices up about 5% per year. The rest is hype - we're already up more than 50% from 2016's low.

Sorry to tell you, but your post doesn't make any sense.

[zimmah]

while i agree that a big part of rise is hype but you can't deny the massive reduction in creation of new supply

Yes. But. 

Actually Bitcoin's inflation in coin supply is about 10% per year.
After the halving event, the inflation will be about 5% per year.

That means: Objectively, the halving should drive the prices up about 5% per year. The rest is hype - we're already up more than 50% from 2016's low.

that's not how math works

seriously, that's not how math works at all.

[romero121]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

If the growth ratio continues, as quoted we may reach around $700 to $800. At the same a single drop will result in a big decrease. For this reason I believe the price would be around $600 before the days of halving.

[Sniper44]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

If the growth ratio continues, as quoted we may reach around $700 to $800. At the same a single drop will result in a big decrease. For this reason I believe the price would be around $600 before the days of halving.

if the rise goes on like this $600 will be the price before halving but i don't think any drop can cause a "big decrease" as you said here. the buy support is strong these days so it can't drop easily.

[beerlover]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

If the growth ratio continues, as quoted we may reach around $700 to $800. At the same a single drop will result in a big decrease. For this reason I believe the price would be around $600 before the days of halving.

if the rise goes on like this $600 will be the price before halving but i don't think any drop can cause a "big decrease" as you said here. the buy support is strong these days so it can't drop easily.

Yup. The buy support is really strong because there is quite a demand for bitcoins right now. Besides, I don't think it's a good move to sell your coins right now because of the price rally. It's definitely going up in a few more days/weeks even so I don't think anyone would start dumping their coins, unless they give up on bitcoins.

[d5000]

Actually Bitcoin's inflation in coin supply is about 10% per year.
After the halving event, the inflation will be about 5% per year.

That means: Objectively, the halving should drive the prices up about 5% per year. The rest is hype - we're already up more than 50% from 2016's low.

that's not how math works

seriously, that's not how math works at all.

Yeah, keep in denial and enlighten me how math works. "To da moon" is a mathematical statement?

Sure, you can include speculation about the proportion of the Bitcoin that are sold on exchanges that come from miners. If all or a large proportion of the coins that are sold on exchanges come from miners, than you would be right.

OK, let's check this. Coinmarketcap says that we had a 24-hour trading volume of 63,887,000 USD for BTC (and that's even without the Chinese "no-trading-fees" exchanges!). This are >110000 BTC. There are ~ 3600 BTC generated per day by miners. Not a very large proportion.

[alyssa85]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

If the growth ratio continues, as quoted we may reach around $700 to $800. At the same a single drop will result in a big decrease. For this reason I believe the price would be around $600 before the days of halving.

if the rise goes on like this $600 will be the price before halving but i don't think any drop can cause a "big decrease" as you said here. the buy support is strong these days so it can't drop easily.

Yup. The buy support is really strong because there is quite a demand for bitcoins right now. Besides, I don't think it's a good move to sell your coins right now because of the price rally. It's definitely going up in a few more days/weeks even so I don't think anyone would start dumping their coins, unless they give up on bitcoins.

It's hard to call the top. Taking a few profits doesn't mean that you have given up on bitcoin - just that you are reducing your risk. If you are in profit, then sell a little, enough to ensure you don't feel too bad if the price fell back. No one got poor taking profits.

[richardsNY]

I don't think price will stucked at this level till halving, i am seeing atleast 700 to 800$ before halving.

The block halving is just over a month away at this point. I think we can reach a high of $650 just before the block halving, but not much more than that. Definitely no $800 prices this year.

[angaper]

I also use to check the bitcoin price with anxiety throughout the whole day, and I think this rally has the enough momentum to achieve the $800 barrier just few days before halving.

[zimmah]

Actually Bitcoin's inflation in coin supply is about 10% per year.
After the halving event, the inflation will be about 5% per year.

That means: Objectively, the halving should drive the prices up about 5% per year. The rest is hype - we're already up more than 50% from 2016's low.

that's not how math works

seriously, that's not how math works at all.

Yeah, keep in denial and enlighten me how math works. "To da moon" is a mathematical statement?

Sure, you can include speculation about the proportion of the Bitcoin that are sold on exchanges that come from miners. If all or a large proportion of the coins that are sold on exchanges come from miners, than you would be right.

OK, let's check this. Coinmarketcap says that we had a 24-hour trading volume of 63,887,000 USD for BTC (and that's even without the Chinese "no-trading-fees" exchanges!). This are >110000 BTC. There are ~ 3600 BTC generated per day by miners. Not a very large proportion.

again your math is horribly flawed.

Those 110000 bitcoin traded are not really 110000 bitcoin, it's just a few 1000 bitcoin that is traded back and forth.

If person A buys 10 bitcoin from person B, and then person B sell them to person C, then that's 20 bitcoin in volume already, even though there's only 10 bitcoin at the exchange.

those 3600 mined bitcoins once they hit the exchange can produce much more than 3600 bitcoin worth of volume.

Especially since most trading is done by scripts, so many trades are made each minute, so really, 3600 fresh bitcoins can make quite an impact.

And the calculation you made about the 10% inflation to 5% inflation, therefore price increase by 5% each year is just as bad, because these things are unrelated.

[Amph]

at this point it can touch 800 before halving, at the rate at which is growing, it's not so hard anymore, if they are aiming for 2x the previosu value

then 700-800 will be the target, but i doubt it will go above 1k, going above 1k would mean initiating a panic buy that will make the value even higher

not sustainable i believe

[mkc]

Don't know how high it will go, but I think 1k is reachable around halving time.

[1Referee]

at this point it can touch 800 before halving, at the rate at which is growing, it's not so hard anymore, if they are aiming for 2x the previosu value

then 700-800 will be the target, but i doubt it will go above 1k, going above 1k would mean initiating a panic buy that will make the value even higher

not sustainable i believe

My guess is that the panic buying a week before the block halving will make the price reach $700, but that as the highest point for this year. I can't really see it reach $1000 this year. Perhaps next year.

[pearl11]

The rally isnt began yet, this happening is only to prepare us to the real rally that will happen next month.
Bitcoin can climbed up to +100$ in its current price in 3 days only next month ,and thats what we call a rally.

[hermanhs09]

Don't know how high it will go, but I think 1k is reachable around halving time.

Yeah, definitely. 1k should be tumbling down by the time we get to the halving itself. Even if it doesn't reach 1k, it'll be somewhere close to that region. It's already risen from $400 to $570 now.

Definitely a new bull market for bitcoin, which is by no means bad. It's the push that bitcoin needs.