Looking Forward to 2017

[asakura.yoyo]

Bitcoin's price, exceeding $1,000 and approaching $1,100 in just the first few days of the year, levels not seen since late-2013 when it's price briefly exceeded $1,200. This top, of course, was followed by a crash in the price of Bitcoin, sending it down to below $250 soon after. This has led some skeptics to claim that this price rise, too, is a bubble. However, many things are different this time around. The size and computing power of the Bitcoin mining network, which confirms and validates transactions, has risen exponentially since then, and the number of users, merchants, and exchange volume has grown similarly. Moreover, the rapid rise back in 2013 is now attributed to fraudulent trading and price manipulation that exploited illiquid and immature markets, and which eventually led to the famous collapse of the primary, and corrupt, Bitcoin exchange, Mt. Gox. This past year's rise in price has enjoyed liquid, developed markets with many exchanges in competition with one another, and without any evidence of price manipulation.

Demand for Bitcoin as a currency is also likely to continue to grow in 2017, again as China has promised to restrict capital outflows and to devalue its currency in order to protect exporters. Another large economy that has seen increased demand for Bitcoin is India, whose government surprised many by scrapping large-denomination banknotes and causing a panic for cash in the country of more than a billion residents. A rising U.S. dollar has also caused some in emerging markets to seek alternatives to fiat currencies as debt denominated in dollars becomes more expensive to service. (For more, see: Bitcoin Prices in India Soar Amid Demonetization Drive)

2017 may also see increased focus on Bitcoin as the dominant digital currency amid many hundreds of alternatives (sometimes called 'altcoins') including notably Litecoin, Ethereum and Zerocash. Some proponents of altcoins had hoped that improvements or enhanced features that made them objectively "better" than Bitcoin would help dislodge it as the dominant player. Those efforts have seemed to fail, as Bitcoin continues to climb, its market cap now approaching $18 billion, while its next closer competitor, Ethereum is struggling to break through $1 billion. So-called Bitcoin supremacy or dominance is also likely to damper efforts of private blockchain implementations that have been attempted largely in the financial sector, notably with the consortium R3CEV or IBM's Hyperledger project.



Read more: Bitcoin Predictions for 2017 | Investopedia http://www.investopedia.com/news/bitcoin-predicitons-2017/#ixzz4fMgREqR7
Follow us: Investopedia on Facebook

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[BitcoinHodler]

This top, of course, was followed by a crash in the price of Bitcoin, sending it down to below $250 soon after.

it wasn't exactly "soon" after. it took 2+ freaking years
and i wouldn't exactly call it a crash. it was a bubble bursting, and i prefer calling it a correction after a fake price in 2013

The size and computing power of the Bitcoin mining network, which confirms and validates transactions, has risen exponentially

this is the first time i hear someone calling it "computing power". in fact it is that but we call it hash power/hash rate. or at least mining power and that has nothing to do with price rise. price went up, more miners came not the other way around.

and without any evidence of price manipulation.

i'd say price manipulation is still there, and very present but not at all with same power.

enhanced features that made them objectively "better" than Bitcoin

this is highly debatable.

Read more: Bitcoin Predictions for 2017 | Investopedia http://www.investopedia.com/news/bitcoin-predicitons-2017/#ixzz4fMgREqR7
Follow us: Investopedia on Facebook

today is near the end of the 4th month of 2017, you just linked an article from investopedia which was published Jan 4 which means 4 months ago!
and what's with that tag at the end of your link?

[uneng]

I think bitcoin will continue growing the amount of its users slowly as on the last years, but I don't think the adoption of altcoins will increase very much. Investors, especially the newbie investors coming now to crypto world will go all on bitcoins.
Altcoins don't have the same trust bitcoin conquered, there is more risk involved on altcoins trade and holding than bitcoin.

[maydna]

and now bitcoin price is at $14xx and its should makes us happy because we can make a big money for people which buying bitcoin at $9xx and now they can sold their bitcoin. but for people which is buy at $1xxx or above, then i think you don't have to be panic when you see the price is down because the price will be more higher than now and its the best for you to keep hold it in your wallet or you can use it for trading btc-altcoin to grow your bitcoin amount.

[btvlGainer]

I think bitcoin will continue growing the amount of its users slowly as on the last years, but I don't think the adoption of altcoins will increase very much. Investors, especially the newbie investors coming now to crypto world will go all on bitcoins.
Altcoins don't have the same trust bitcoin conquered, there is more risk involved on altcoins trade and holding than bitcoin.

I agree. Bitcoin causes more confidence and he will continue to develop further making profit to his regular fans.

[Bitcoinsummoner]

and now bitcoin price is at $14xx and its should makes us happy because we can make a big money for people which buying bitcoin at $9xx and now they can sold their bitcoin. but for people which is buy at $1xxx or above, then i think you don't have to be panic when you see the price is down because the price will be more higher than now and its the best for you to keep hold it in your wallet or you can use it for trading btc-altcoin to grow your bitcoin amount.

In bitfinex its already been touch in $1,400 value but i think in preev price still not and we should relay on btc-e as our real price..
Well we already get back in $1,300 so i think the next stage is $1.4k
Do you think bitfinex issue already been done i didn't still see any new post in their site..
Or this is just another trap because the big crash happen..

[BrewMaster]

and now bitcoin price is at $14xx and its should makes us happy because we can make a big money for people which buying bitcoin at $9xx and now they can sold their bitcoin. but for people which is buy at $1xxx or above, then i think you don't have to be panic when you see the price is down because the price will be more higher than now and its the best for you to keep hold it in your wallet or you can use it for trading btc-altcoin to grow your bitcoin amount.

In bitfinex its already been touch in $1,400 value but i think in preev price still not and we should relay on btc-e as our real price..
Well we already get back in $1,300 so i think the next stage is $1.4k
Do you think bitfinex issue already been done i didn't still see any new post in their site..
Or this is just another trap because the big crash happen..

- the "real" price is on other exchanges and that is $1310 at the moment of typing this.
- "preev price" is not accurate it gives you an average unless you change it explicitly to a specific exchange.
- btc-e has never been the real price, it usually is lagging behind!
- no bitfinex issue is not yet done.

[TravelMug]

Should the title be looking forward to 2018? Lol.

The article is old I think. The price is more than $1100 now and its touching the $1400 price. This really good for those who have bought it at around $950 profit is there already. I'm really thinking of buying bitcoin now, but the price is too high for me. I'll just have to wait and see what happens. Maybe there is a big crash happening or maybe not, but one things for sure. Bitcoin can never be really stop and continue to have high demand from investors and bitcoin enthusiast like us.

[Kotone]

We should look for what bitcoin features are by the year past bitcoin becoming more useful to people. Not only for those traders who keep on eye on bitcoin which they really do making profit from it. The real price of bitcoin will be on the next 2030 in this year we will see what the bitcoin price really are.

[2double0]

If you are parting manipulation from Bitcoins, it's like parting a spring from its motion. Just think, how would it ever be possibly in a real manner for Bitcoins to reach back over $30 once they crashed like penny stocks? How it recovered back from $250 where it went after it reached $1100 in 2014? It was not possible without manipulation, price manipulation is still there but due to the sudden growth and addition of newer investors to Bitcoins, it is getting real hard for those cheeky whales who were betting on Bitcoins just to make profits and feed their babies, but those days have gone now as stabilization has taken place due to the demand and support these investors are showing.

[davis196]

We should look for what bitcoin features are by the year past bitcoin becoming more useful to people. Not only for those traders who keep on eye on bitcoin which they really do making profit from it. The real price of bitcoin will be on the next 2030 in this year we will see what the bitcoin price really are.

It`s a little bit annoying that everyone looks only at the bitcoin price and nobody cares about how to push bitcoin mass adoption further.
It`s like 99% of the btc users are holders and speculators.

[aTriz]

and now bitcoin price is at $14xx and its should makes us happy because we can make a big money for people which buying bitcoin at $9xx and now they can sold their bitcoin. but for people which is buy at $1xxx or above, then i think you don't have to be panic when you see the price is down because the price will be more higher than now and its the best for you to keep hold it in your wallet or you can use it for trading btc-altcoin to grow your bitcoin amount.

Can I ask where did you get the 1400$ price for one bitcoin?! I think there is literally no exchange which offers such a rate, lol.
Bitcoinaverage claims that the current price of BTC is 1315 $ which is actually high, but I think that 1400$ level was never broken in the history of bitcoin (well, maybe except bitfinex because they have basically suspended wire transfers, which caused the price of btc going really high only on this exchange).

Even when we would see BTC dipping to 1000$, im sure that there would be no reason to panic. way too many companies are bitcoin related, to see such a big dump becoming true.

[Ahab_Hunter_of_BearWhale]

Poloniex is at 1424, amd they usually have pretty decent btc-usd volume.

[Shiver]

I agree in principle, but people coming to the scene need something to compare it to, so I think USD will be a measure for some time to come, even if you never intend to sell back to fiat ever again.

[york780]

I agree in principle, but people coming to the scene need something to compare it to, so I think USD will be a measure for some time to come, even if you never intend to sell back to fiat ever again.

1 BTC = 1 BTC

USD is not relevant anymore.
Only my grandma still uses fiat.

[Shiver]

Poloniex also is currently >$1400.

To previous writer, my small online company accepts BTC, but it has only ever had a handful of trades in BTC.  I'm about to part company with that business partner (lawyer meeting tomorrow), and my replacement company will do it my way (i.e. BTC centric or pay more for fiat), with significant advantages to the customer for being BTC.  Everything I can live on without converting to fiat I will do, and just add BTC for pension day.

I think something like Bitstamp may be a better conservative approach to valuation for now.

[rajasumi3]

I think that the price prediction is high in case of bitcoins and the the price of bitcoins is increasing day by day.it is according to me that the price of bitcoins would reach upto 2000$ by the end of august and by the end of december the pricce of bitcoins could reach upto 3000$.

[Silberman]

I think bitcoin will continue growing the amount of its users slowly as on the last years, but I don't think the adoption of altcoins will increase very much. Investors, especially the newbie investors coming now to crypto world will go all on bitcoins.
Altcoins don't have the same trust bitcoin conquered, there is more risk involved on altcoins trade and holding than bitcoin.

Correct a new investor is not going to invest in all those altcoins that no one has heard about, they are going to invest in what they know and that is bitcoin, and this is why I think it is going to be very difficult fro any altcoin to surpass bitcoin any time soon.

[Sniper44]

Poloniex is at 1424, amd they usually have pretty decent btc-usd volume.

Poloniex also is currently >$1400.

there are no dollar markets in poloniex so there is no dollar price there either. you are looking a the wrong thing.
it is either at coinmarketcap and they convert everything to dollar value. or it is looking at tether market and $ is not the sign for tether (USDT).

in other words 1BTC=1424 USDT=$1295.8 or $1310.08
1 USDT =~$0.91 or $0.92