We would be 1000+ if bitfinex didn't happen

[Vinz24]

It's really hard to tell, $1000 is obviosly really high enough to reach in that amount of time. You maybe right but we are not sure of that. But better investment is long term investment.

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[1Referee]

Even without the finex hack, RSI data was showing that a downward correctino was inevitable. It just got more pronounced due to the finex hack that coincidently happened at the same time.

This. It was an expected decrease that people could have seen coming from miles away. Smart traders have used that as a great opportunity to take profits. I unfortunately didn't manage to buy below the $500 level at the lowest point of the dump, but I did manage to buy some coins below $550 levels.

[wachtwoord]

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

[NeuroticFish]

We will be at 1000 next year granted.

The market adjusts itself and it was pretty stable this year.
Bitcoin would clearly be under 1000$ even without the Bitfinex story.
And even the "over 1000$" for next near may not be touched before summer. I'll consider myself lucky if bitcoin continues to rise as much.

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

Actually the slower is the rise, less chance to fall too much.
Bitcoin is still young. All cryptos are. Patience...

[Zadicar]

Even without the finex hack, RSI data was showing that a downward correctino was inevitable. It just got more pronounced due to the finex hack that coincidently happened at the same time.

This. It was an expected decrease that people could have seen coming from miles away. Smart traders have used that as a great opportunity to take profits. I unfortunately didn't manage to buy below the $500 level at the lowest point of the dump, but I did manage to buy some coins below $550 levels.

$550 level on price would be still a good buy  as of now bitcoin price is   estimately $620+  which  it give already you a profit especially if you do short trades but if you want to wait further more then just  hold it and wait for  the price increase.$1k would be impossible  for this year surely because  bitcoins price do always goes  up and downs.

[Decoded]

I think we would be on our way to 1k, but not at 1k yet. You see, the price drop after the hack wasnt all due to Bitfinex. There was strong instability as people thought the price was going to go up after the halving, and it started to go down.

[bamboylee]

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

Yeah, we will just suffer some nasty correction if  the prize of bitcoin suddenly jumps to 1000$. We should be happy as long as the price of bitcoin appreciates at a regular basis. At least we know that it is getting stronger.

[BTCLovingDude]

All the idiots that still don't own any bitcoin will keep going FOMO every time it goes up. They are pussies scared to get in and once it starts rising they get in quick.

We will be at 1000 next year granted.

it is a bit hard to say this about $1000 because it is like a milestone that will always be hardest to reach until we reach it and get passed that price.
but until that day it will be so hard and many weak hands will continue dumping because of their panic and slow this freaking rise down.

[Ayers]

i don't think so the initial dump from $770 happened long before the bitfinex hack so it would be probably the same maybe not so low right it was few weeks ago

[Zadicar]

We will be at 1000 next year granted.

The market adjusts itself and it was pretty stable this year.
Bitcoin would clearly be under 1000$ even without the Bitfinex story.
And even the "over 1000$" for next near may not be touched before summer. I'll consider myself lucky if bitcoin continues to rise as much.

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

Actually the slower is the rise, less chance to fall too much.
Bitcoin is still young. All cryptos are. Patience...

Its still doesnt guarantee that  if it rise slowly it would also fall slowly. Just like what happen before on bitfinex hack, we  certainly stabilize on $670- 680 price   then suddenly drop its price because of hack, we really dont know what would happen in the future. if that incident didnt happen then  our price as of now might $700+ i guess.

[NeuroticFish]

Its still doesnt guarantee that  if it rise slowly it would also fall slowly. Just like what happen before on bitfinex hack, we  certainly stabilize on $670- 680 price   then suddenly drop its price because of hack, we really dont know what would happen in the future. if that incident didnt happen then  our price as of now might $700+ i guess.

$700+ sounds reasonable. OP was complaining about not reaching yet $1000+. It's quite a difference.

I am patient but the next rise will be to $10^4  (so between $5k and $49k). I don't know when it will be, but it will rise to the next order of magnitude.

That would mean either another bubble, either a continuous slow rise for years. I prefer the second.

[gentlemand]

I don't believe that at all. It may have carried on bouncing between 6-700 perhaps but that's about it. There's been no sign of the will to approach that pre hack and there's nothing particularly compelling to have made it happen had there not been a hack.

[dunfida]

Its still doesnt guarantee that  if it rise slowly it would also fall slowly. Just like what happen before on bitfinex hack, we  certainly stabilize on $670- 680 price   then suddenly drop its price because of hack, we really dont know what would happen in the future. if that incident didnt happen then  our price as of now might $700+ i guess.

$700+ sounds reasonable. OP was complaining about not reaching yet $1000+. It's quite a difference.

I am patient but the next rise will be to $10^4  (so between $5k and $49k). I don't know when it will be, but it will rise to the next order of magnitude.

That would mean either another bubble, either a continuous slow rise for years. I prefer the second.

You have a point, its just a another bubble to reach that price would  quite unrealistic to consider.  As we see the bitcoins price movement as of now its quite slow compare to previous years i guess or just me.  If this movement would continue  it might not reach  a high amount  on upcoming  years.

[Red-Apple]

I don't believe that at all. It may have carried on bouncing between 6-700 perhaps but that's about it. There's been no sign of the will to approach that pre hack and there's nothing particularly compelling to have made it happen had there not been a hack.

actually i think a rise was possible before this big drop. maybe not to $1000 but definitely a rise.
if you remember, before the drop we were testing the bottoms for another time and there was a good resistance against going lower than $600 forming up and then the hack happened and messed up everything

[gentlemand]

actually i think a rise was possible before this big drop. maybe not to $1000 but definitely a rise.

I'm sure the will was there for more action, but nudging and perhaps breaking late 700s is very different than a run to $1000. I think it's all well placed for a positive end of year now. It's going to be fun to see what's served up.

[praprata]

I don't believe that at all. It may have carried on bouncing between 6-700 perhaps but that's about it. There's been no sign of the will to approach that pre hack and there's nothing particularly compelling to have made it happen had there not been a hack.

actually i think a rise was possible before this big drop. maybe not to $1000 but definitely a rise.
if you remember, before the drop we were testing the bottoms for another time and there was a good resistance against going lower than $600 forming up and then the hack happened and messed up everything

1000 was not going to happen, because the halving was already over. The price would have be more stable in the 650 area. Now you can see that the price is climbing up to it's previous high which is the normal thing to expect.

[Leonard2016]

it has always been like this.

whenever we see a big rise if you check out the history before that big rise you can see a rather big drop before it. and that big drop acts like a launching pad where the traders buy more fuel for their rockets and then launch to the moon.

[mindrust]

Not 1000+ but i think we would be at 800+ if bitfinex didn't happen. Bitcoin was doing just fine before the bitfinex. It was building up slowly and it still does, but finex harmed that growth for a month or two.

[zimmah]

Don't get greedy and want a super quick increase in price.  Lets take a long time and gradually move upwards at sustainable levels.  That would do more good for bitcoins name than any hacking attempt.

Super quick? It's been nearly 3 years. That's an eternity in Bitcoin terms.

DebitMe you don't understand.

the current price for bitcoin is not sustainable, because what happens if 20 million people want to own $100 worth of bitcoin.

We'd run out of bitcoin.

Bitcoin price has to go up rapidly to allow new users to own any meaningful amount of bitcoin.

Adoption doesn't grow slowly.

Adoption grows exponentially, so price is also expected to rise exponentially.

That's also why scaling is so important. (and the devs are way too slow on realizing and implementing this).

[hdbuck]

thing is, the moar the value, the moar the hacks.