[2017-02-04] Bitcoin Price Forecast of $2,000 Driven by Solid Fundamentals

[bitlamp]

Bullish Bitcoin Price Forecast Boosted by Technical and Macro Outlooks

After a precarious start to 2017, some investors feared a repeat of the 2013 crash which sent Bitcoin (BTC) prices plummeting over 80% from all-time highs. To us, it seemed like a great buying opportunity. Thus, our Bitcoin price forecast never wavered.

I expect that $2,000.00 can be achieved this year (more than double the current BTC price), barring any imposition of draconian measures placed on exchanges or trading.

There’s simply too many positive catalysts working in Bitcoin’s favor at the moment, the first of which has been in the news cycles for months: the devaluation of the Chinese yuan.

https://www.lombardiletter.com/bitcoin-2000-favorable-bitcoin-price-forecast-driven-solid-fundamentals/6656/

[Slow death]

Excellent article

With so many potential catalysts in Bitcoin’s favor, it’s not surprising that many in the know maintain a bullish Bitcoin price prediction in 2017. Among the more optimistic prognosticators, Bitcoin hedge fund manager Daniel Masters predicts that Bitcoin will hit $4,400.00 by the end of 2017, as adoptions continue to increase and more companies accept it as payment.

It is not impossible if it is in the next years, but reach $4.400.00 this year? I find it very difficult.

I'd rather be more cautious when it comes to making Bitcoin price prediction

[darkangel11]

I love bullish news, hopefully the predictions will come true. The only thing you have to remember is that in 2014, right after the crash, there was a survey among bitcoin entrepreneurs and most of them predicted Bitcoin to be trading again for over $1000 by the end of the year and it took another 2 years to achieve reach these numbers.

[Karartma1]

I think they are getting some tractions since they are foreseeing another big economic collapse for 2017. https://www.lombardiletter.com/economic-crash-2017-and-how-the-next-financial-crisis-could-be-worse-than-2008/6973/
No need to say that if that happens BTC will reach Mars if not disappearing in the universe.

I do agree that $2000 can be easily reached at present but to go higher that that we need an "normal" economic collapse. We saw it in the past, we know it happens and so hold tight.

[Slark]

Good informative article, author accurately collected facts which can cause possible bitcoin's price to soar
If only price prediction was that simple and all listed factors automatically would mean ultra bullish trend.

My comments:
1. One negative announcement from China, or further  will cross our chances of reaching $2000.
2. Winklevoss ETF has slim chances of being accepted by the SEC.
3. Rise of transaction numbers and bitcoin users is not necessarily good thing, bitcoin network might not be ready for this.

[1Referee]

Excellent article

With so many potential catalysts in Bitcoin’s favor, it’s not surprising that many in the know maintain a bullish Bitcoin price prediction in 2017. Among the more optimistic prognosticators, Bitcoin hedge fund manager Daniel Masters predicts that Bitcoin will hit $4,400.00 by the end of 2017, as adoptions continue to increase and more companies accept it as payment.

It is not impossible if it is in the next years, but reach $4.400.00 this year? I find it very difficult.

I'd rather be more cautious when it comes to making Bitcoin price prediction

Article indeed offers a good read compared to all other formal articles. But reaching any price above $2000 is highly unlikely this year. Especially when you consider that we first need to make sure we can maintain the $1000 level for a good while. People from whatever level making such predictions just show that they either try to make people buy as they might take that prediction for granted, or he simply doesn't know how the market works. I personally think the first option is the case. People with common sense will look right through it.

[ProfessionalGoogler]

This is all true, think about the CORE reason BTC price fell -- Mt Gox!

You can't handle 70% of BTC exchanges, lose peoples BTC and expect to NOT effect BTC in a negative way.

As long as something similar to that doesn't happen again -- BTC has no reason to fall and every reason to CONTINUE rising!

[ProfessionalGoogler]

Excellent article

With so many potential catalysts in Bitcoin’s favor, it’s not surprising that many in the know maintain a bullish Bitcoin price prediction in 2017. Among the more optimistic prognosticators, Bitcoin hedge fund manager Daniel Masters predicts that Bitcoin will hit $4,400.00 by the end of 2017, as adoptions continue to increase and more companies accept it as payment.

It is not impossible if it is in the next years, but reach $4.400.00 this year? I find it very difficult.

I'd rather be more cautious when it comes to making Bitcoin price prediction

Article indeed offers a good read compared to all other formal articles. But reaching any price above $2000 is highly unlikely this year. Especially when you consider that we first need to make sure we can maintain the $1000 level for a good while. People from whatever level making such predictions just show that they either try to make people buy as they might take that prediction for granted, or he simply doesn't know how the market works. I personally think the first option is the case. People with common sense will look right through it.

Except you seem very uneducated on why BTC fell to begin with. 

[aarturka]

I agree with the forecast in the article. And I think that Bitcoin price is being artificially restrained now. There are several events that could positively influence bitcoin price. The most expected are the activation of Segregated Witness, the release of Lightning Network and Tumblebit, approval of Bitcoin ETFs, the financial crash and economic instability.

[panju1]

Any foolhardy step by Trump would increase the demand for Bitcoin as well.
The dollar is already on a downward trend, given Trump's announcements. $2000 might be optimistic, but I wouldn't mind getting there in 2017.

[just_Alice]

I enjoyed reading the article. From my point of view the author is right paying so much attention to the Chinese economy.

As Chinese exchanges account for over 85% of all Bitcoin traffic, continued economic softness will lead people to use Bitcoin as a prime outlet to move yuan offshore into no-depreciating assets.

I want to believe that he is right when stating that Bitcoin price will be over $1,900 by the end of 2017. At least he looks like one who knows what he is talking about.

[tuvok007]

And what about Kim Dot Coms announcement of megaupload 2.0 and his bitcache project? He claims that thanks to Megaupload 2.0 the price will double.

[1Referee]

Excellent article

With so many potential catalysts in Bitcoin’s favor, it’s not surprising that many in the know maintain a bullish Bitcoin price prediction in 2017. Among the more optimistic prognosticators, Bitcoin hedge fund manager Daniel Masters predicts that Bitcoin will hit $4,400.00 by the end of 2017, as adoptions continue to increase and more companies accept it as payment.

It is not impossible if it is in the next years, but reach $4.400.00 this year? I find it very difficult.

I'd rather be more cautious when it comes to making Bitcoin price prediction

Article indeed offers a good read compared to all other formal articles. But reaching any price above $2000 is highly unlikely this year. Especially when you consider that we first need to make sure we can maintain the $1000 level for a good while. People from whatever level making such predictions just show that they either try to make people buy as they might take that prediction for granted, or he simply doesn't know how the market works. I personally think the first option is the case. People with common sense will look right through it.

Except you seem very uneducated on why BTC fell to begin with. 

I am probably even more uneducated as I can't really follow you? What has your post to do with my post that was directed at the poster I quoted?

[Slow death]

I love bullish news, hopefully the predictions will come true. The only thing you have to remember is that in 2014, right after the crash, there was a survey among bitcoin entrepreneurs and most of them predicted Bitcoin to be trading again for over $1000 by the end of the year and it took another 2 years to achieve reach these numbers.

 

Is always like this: someone with his crystal ball makes his prediction that the price will reach the $1100  until X day and we have a lot of people who believe in history and buy many bitcoin and at the end of a few days we have people lamenting and selling cheap.

Any foolhardy step by Trump would increase the demand for Bitcoin as well.

From 1% to 100%. What are the chances of trump doing something reckless?

Being that he is a businessman and not an experienced politician, anything he does becomes a problem for corrupt politicians who own large corporations.

Excellent article

With so many potential catalysts in Bitcoin’s favor, it’s not surprising that many in the know maintain a bullish Bitcoin price prediction in 2017. Among the more optimistic prognosticators, Bitcoin hedge fund manager Daniel Masters predicts that Bitcoin will hit $4,400.00 by the end of 2017, as adoptions continue to increase and more companies accept it as payment.

It is not impossible if it is in the next years, but reach $4.400.00 this year? I find it very difficult.

I'd rather be more cautious when it comes to making Bitcoin price prediction

Article indeed offers a good read compared to all other formal articles. But reaching any price above $2000 is highly unlikely this year. Especially when you consider that we first need to make sure we can maintain the $1000 level for a good while. People from whatever level making such predictions just show that they either try to make people buy as they might take that prediction for granted, or he simply doesn't know how the market works. I personally think the first option is the case. People with common sense will look right through it.

I agree

[Gromozeka!]

Article indeed offers a good read compared to all other formal articles. But reaching any price above $2000 is highly unlikely this year. Especially when you consider that we first need to make sure we can maintain the $1000 level for a good while. People from whatever level making such predictions just show that they either try to make people buy as they might take that prediction for granted, or he simply doesn't know how the market works. I personally think the first option is the case. People with common sense will look right through it.

We hear too many predictions, but the reality is that the Chinese took control of another exchange and flew down the course again, though much but still down. If we finish this year at the level close to 2000, this is already a success.