Will Bitcoin exceed its all-time-high of almost $1300 in the near future?

[TingCoin]

Just wondering what everyone thinks.

We should keep in mind that the last all time high happened due to the Mt.Gox scenario (Google that if you weren't around at that time) whereas this current activity is, as far as we can tell unrelated to any foul play and is actually legitimate due to the current situations happening around the world.

Personally I believe the main contributors to this this high are India (the uncertainty in fiat created from the govt abolishing all 500 and 1000 rupee notes in November) and China (you are only allowed to send $50,000 per year out of the country, now it's the new year a good amount of them are putting that into bitcoin via legal methods). If you look at volume/price graphs, it seems to correlate.

It's likely that this pump has brought in a lot of new adopters, so I think it's pretty unlikely we'll ever see the $600 range anytime soon if ever again. Personally I think the $800-1000 range is stable, but am expecting more craziness to happen before then (at least I hope).

What do you guys think?

[iamnotback]

Flip a coin. Either we are going much higher now, or we will meander for some months first and perhaps even make another cup & handle dip to $700 first.

The $1300 ATH will be breached by 2018 at the absolute latest.

I am leaning towards we are entering a frenzy period. As you say, China appears to be driving this.

I think the price will double top up to $1300 - $1500 within the next weeks and then decline to $600 - $700 over the next 2-3 months with another run up for the latter half of 2017  You're in the wrong place if you're seeking financial stability..

I don't subscribe to any specific prediction, but volatility does appear to be increasing.

If you want to ride this wild horse, don't get thrown off.

[lambdaE]

When the price was around 1200$ I was quite sure he price will go to 1500$ and maybe even more but no its hard to say if the price will have a jump soon though in long term surly it will reach even 2000$

[talkbitcoin]

Just wondering what everyone thinks.

not so near but we will surely see $1300 and possibly a lot more this year.

We should keep in mind that the last all time high happened due to the Mt.Gox scenario (Google that if you weren't around at that time) whereas this current activity is, as far as we can tell unrelated to any foul play and is actually legitimate due to the current situations happening around the world.

i agree that things are so different from 2013-14 and the massive bubble we witnessed in bitcoin. and this time the rise took its sweet time before getting to the current price and since it has been strong it can not go wrong thing time around.

Personally I believe the main contributors to this this high are India (the uncertainty in fiat created from the govt abolishing all 500 and 1000 rupee notes in November) and China (you are only allowed to send $50,000 per year out of the country, now it's the new year a good amount of them are putting that into bitcoin via legal methods). If you look at volume/price graphs, it seems to correlate.

i say they both were effective but not enough for such a rise specially India since the trade volume on their exchanges weren't that high and only localbitcoins were reporting a rise in the volume (which wasn't considerable compared to others).
and that 50K limit in China i don't think is going to show its effect on "bitcoin price" right away because those merchants who want to deal with more than 50K are not going to jump into bitcoin as soon as they hear this news.

It's likely that this pump has brought in a lot of new adopters, so I think it's pretty unlikely we'll ever see the $600 range anytime soon if ever again. Personally I think the $800-1000 range is stable, but am expecting more craziness to happen before then (at least I hope).

What do you guys think?

well $600 is impossible, period.
the "dump" also proved this.

before the rise happened (bubble of 2016 $1150) price was strongly holding at $780 with a strong buy support. and after the dump happened price couldn't break $800 and that is a good sign.
another good sign is that price is currently at above $900 once again so the buy support is still there.

[maku]

Innate volatility of bitcoin is one thing. But it seems that it is not the biggest problem for bitcoin on the way of reaching new ATH.
We entered the phase where bitcoin is being influenced by politics, hidden agenda of miners, ulterior motives of developers and more.
Some examples: scaling debate, SegWit and Lighining Network debate - what is true Bitcoin, what isn't?, and the most important Chinese Government influence.
As it seems that rumors of China new bitcoin legislation project caused latest bitcoin race to end prematurely.

[electronicash]

things will stay the same and most likely, its value will go more than 1300 USD until all bitcoin are mined, its value will keep getting bigger and bigger. only then we can experience some other problems and that may cause bitcoin to gradually decline and will be replaced by another coin who knows it could be monero or ETH.

[hase0278]

Bitcoin will not exceed its all time high in the near future in my opinion. It can't even exceed it's all time high now but the last price rise was good. Maybe in the far future, after the last bitcoin halving, it will have a value more than 1300$ but after that it will be unpredictable and it might be replaced by a new crypto-currency maybe not. Also I think many people must have stopped mining by that time since it is not profitable after that.

[carlisle1]

It is almost at the $1300 value these past few days but then suddenly drop . we can not tell if it will jump up to that price soon in the future as we can see the price is getting quite stable to it's current price . and it seems it would take several months before we can see it getting increased again hopefully it would exceed its ATH .

[iamnotback]

PS. My favorite Altcoin is DASH, just saying.
I feel it's technologically superior to all the rest of them.

Because apparently you don't understand the technology at any deep level. If you did, I think you would come to a different conclusion. Sorry not meaning to be condescending, but I will have a whitepaper out sometime this year that you should read.

[pereira4]

When hasn't Bitcoin been being influenced by those things you mentioned? It always has been. Do you have links to the rumors of Chinas new legislation? Pretty interesting stuff, I did a search and couldn't find anything recent.

The links you are looking for are tweets by people that is in direct contact with china:

Charlie Lee ‏@SatoshiLite Jan 6

Charlie Lee Retweeted Charlie Lee

Ok, in all seriousness, I spoke to a relative in China and he says it's not any meaningful news. Just PBOC FUD. So China has not banned BTC!

@SatoshiLite is a good tweeter to follow, he is the creator of bitcoin and has contacts within china and china's mining comunity. He confirmed it was just a rumor.

https://twitter.com/bobbyclee/status/817371073108815872

https://twitter.com/Excellion/status/817370542000877574


Those two are also good to follow.

So as you can see it was all a big misunderstanding... Chinese government releases a warning about volatility and causes volatility... funny actually.

[iamnotback]

Yeah I know what you mean... I'm going to be honest the reason I'm posting this is because I sold all what I have on the books at $1080, got lucky and put half in at $820. Problem is I got a bit emotional and put the rest in at $900-920, now I don't want to go to sleep LOL. This is why I don't day-trade, I just can't handle it. But this volatility is just too good to miss out on.

I feel like when I wake up tomorrow we'll either be in the $700's or back into the $1000's... Tempted to just sell the ones I bought at the 900's at break even price (well minor profit) and sleep comfortably on my 820's. I've noticed a pattern in the past, and whenever I start coming to this forum for answers I make losses because I'm getting uncertain. I tend to try to stay off of here in recent years.

As long as you are willing to hold until October, then I think it is very, very, very unlikely BTC will not be above $1000 by then.

I think on any time horizon longer than 3 months, it is more likely that price is above $1000 than below.

And the upside is much, much greater than the downside with a 2018 time horizon.

So I would sit tight unless you enjoy holding cash while BTC rises higher and higher. The worst that can happen is $700 (excepting some really bizarre attack such as China banning BItcoin which I think is very unlikely).

[ethereumhunter]

When the price was around 1200$ I was quite sure he price will go to 1500$ and maybe even more but no its hard to say if the price will have a jump soon though in long term surly it will reach even 2000$

many people predict that after the price reach $1200 then the price will be increase but there are many people that wrong with their prediction and there is a panic selling in the market. many people is stuck with high price and hope that the price will be back like before. the condition now is hard to be predicted as the market is not only depend on one or two people but many people want to make profit. but i am sure that the price will be more than $1300 but i don't know when we can reach that price.

[boyshx]

This is just my opinion, but I feel Bitcoins momentum was kinda killed with this dump back to the 800s and it's gonna take some time to reach the 1200s again since you need people to actually buy BTC at 1300$ to reach 1300$.

You won't get that much people to buy Bitcoin over 1000$ if they think it can drop dramatically to 800$ while they sleep. We need some weeks even months of stability to gain back confidence.

[BillyBobZorton]

This is just my opinion, but I feel Bitcoins momentum was kinda killed with this dump back to the 800s and it's gonna take some time to reach the 1200s again since you need people to actually buy BTC at 1300$ to reach 1300$.

You won't get that much people to buy Bitcoin over 1000$ if they think it can drop dramatically to 800$ while they sleep. We need some weeks even months of stability to gain back confidence.

I don't think the momentum was "killed", it was interrupted if anything. The momentum will eventually keep going towards where it was going, and that is towards a new ATH.

It's only a matter of time, the question is if you want to gamble your bitcoin position for a potential 100 ish dollar short (since it seems average now is 800)

[JohnBitCo]

Yes, Bitcoin will go above 1300$ in near future.

[equator]

Just wondering what everyone thinks.

We should keep in mind that the last all time high happened due to the Mt.Gox scenario (Google that if you weren't around at that time) whereas this current activity is, as far as we can tell unrelated to any foul play and is actually legitimate due to the current situations happening around the world.

Personally I believe the main contributors to this this high are India (the uncertainty in fiat created from the govt abolishing all 500 and 1000 rupee notes in November) and China (you are only allowed to send $50,000 per year out of the country, now it's the new year a good amount of them are putting that into bitcoin via legal methods). If you look at volume/price graphs, it seems to correlate.

It's likely that this pump has brought in a lot of new adopters, so I think it's pretty unlikely we'll ever see the $600 range anytime soon if ever again. Personally I think the $800-1000 range is stable, but am expecting more craziness to happen before then (at least I hope).

What do you guys think?

I totally agree with your comment and i am 100% sure that coming month we will see the ATH price broken and new ATH is created. this dip was a good dip as small traders and panic traders have come out of the bitcoin and now long term traders are holding it and it is good for bitcoin.

[BrewMaster]

This is just my opinion, but I feel Bitcoins momentum was kinda killed with this dump back to the 800s and it's gonna take some time to reach the 1200s again since you need people to actually buy BTC at 1300$ to reach 1300$.

You won't get that much people to buy Bitcoin over 1000$ if they think it can drop dramatically to 800$ while they sleep. We need some weeks even months of stability to gain back confidence.

I don't think the momentum was "killed", it was interrupted if anything. The momentum will eventually keep going towards where it was going, and that is towards a new ATH.

It's only a matter of time, the question is if you want to gamble your bitcoin position for a potential 100 ish dollar short (since it seems average now is 800)

the momentum to go to the moon has been killed but the overall momentum is still there and price will continue rising after a while.

right now there is a crazy stage where nobody is sure what is going to happen and so far price has been going up and down, shaking out weaker hands and forming a parabolic rise:

[spiderbrain]

I don't know why the fuck I'm making this statement either.

Sometimes you've just got to share, man.

[alyssa85]

Bitcoin is getting harder and harder to pump, partly because of the price and partly because there are so many ways to short it, unlike in 2013. I personally think the price will stay in the $850 - $950 range for a bit.

[Coinmasta]

I think sometime in 2017 it will definitely hit 1300 or so, but it may be a few months. Around 900 to 1k looks to be the current range.