Bitcoin To Soon Reach $1700

[Denker]

It is now a bubble, when will bubble burst? You never know.

Keep fingers crossed now and hope that it keeps climbing.

Sorry but I strongly disagree!
Bitcoin is far away from being in a bubble. We move up and correct a bit. Higher highs and higher lows is the result. That's healthy growth.
But altcoins are 100% in a bubble! And that bubble will burst sooner or later.
And this could take bitcoin a bit down as well, while alts will completely get crashed. Or this then could trigger a new massive bitcoin bubble because everybody is shifting to Bitcoin.
But right now Bitcoin is doing pretty good.

[BitcoinGirl.Club]

It is now a bubble, when will bubble burst? You never know.

Keep fingers crossed now and hope that it keeps climbing.

Sorry but I strongly disagree!
Bitcoin is far away from being in a bubble. We move up and correct a bit. Higher highs and higher lows is the result. That's healthy growth.
But altcoins are 100% in a bubble! And that bubble will burst sooner or later.
And this could take bitcoin a bit down as well, while alts will completely get crashed. Or this then could trigger a new massive bitcoin bubble because everybody is shifting to Bitcoin.
But right now Bitcoin is doing pretty good.

I agree, we can not tell if its a bubble or natural growth but the bitcoin price keeps going up without resistance and we are more likely to breach the

price of $1700 this year

[1Referee]

we can not tell if its a bubble or natural growth but the bitcoin price keeps going up without resistance and we are more likely to breach the

Current price is overbought, that's for sure. Natural growth takes a reasonable amount of time to reflect in the price, and currently, you can't really talk about natural growth. It's pure speculation and a few other factors that might play an important role. It might be that certain market movers and other traders take positions into Bitcoin because of the ETF review this month that they highly value. It might be Bitfinex traders desperately buying BTC at all cost to cash out their funds.

[Maheshkumar_Hrangkhawl]

Right now it is $1475 per coin in Coinbase / Bitstamp. We may reach $1,500 shortly. And those who made their investment at this point are unlikely to dump their coins before the exchange rates reach $2,000 per coin.

[ArdiPrabowo]

Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value. Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.

I am wondering what are the contributing factors for this continuing rally?  Please share your ideas for the enlightenment and guidance of some readers (including me).

bitcoin price 1500 dollar only bitfinex
another exchanger only 1400 dollar, i think is still very dificult in few time bitcoin price can incraese to 1700 dollar
i think after all exchanger can reach 1500 dollar except bitfinex, bitcoin price can down again

[BitHodler]

we can not tell if its a bubble or natural growth but the bitcoin price keeps going up without resistance and we are more likely to breach the

Current price is overbought, that's for sure. Natural growth takes a reasonable amount of time to reflect in the price, and currently, you can't really talk about natural growth. It's pure speculation and a few other factors that might play an important role. It might be that certain market movers and other traders take positions into Bitcoin because of the ETF review this month that they highly value. It might be Bitfinex traders desperately buying BTC at all cost to cash out their funds.

I do agree that the price is over-bought, but as long as there is enough fuel left to power this rush, people will keep buying, and thus driving up the price.

Consequences of buying at over-bought prices will be something people think about when it's too late. That's always how things go ~ act first, think later. 

[187undercover]

I agree the price will soon reach the $1700 don't even need to wait for the end of the month, maybe the problem is whether prices will continue to rise? I'm not sure because after reaching the $1700 will drop again.

$1700 isn't too different from the current price, so it doesn't even matter that much. $2000 seems like a real milestone though.

[romero121]

I agree the price will soon reach the $1700 don't even need to wait for the end of the month, maybe the problem is whether prices will continue to rise? I'm not sure because after reaching the $1700 will drop again.

$1700 isn't too different from the current price, so it doesn't even matter that much. $2000 seems like a real milestone though.

Yeah, already few exchanges have listed with price tagged above $1600. So $1700 might be a expected one in a short as if the growth takes place in the same  manner. As stated in the quote $2000 is the new milestone because etf approval from SEC is expected this 15th.

[rajasumi3]

Bitcoin will not reach 1700$ ,as the approval by SEC is at the middle of this month,as a result that the price of bitcoins will continue to rise upto the approval point,as before it was rejection,then it is very possible that the next time will b rejection also,at that time there will be huge dump,lets hope for the best.

[digaran]

If you stop selling for $1500 and start asking for $1600, well many people will go first to find out more information on mining and after they have done their research and calculations they will come back and happily will pay $1600 and if you start asking for $1700 then after some calculations they will come back and pay $1700 per coin.

Only big players like large companies and governments can enter mining section because that requires serious resources and only people trying to buy up 1000+ bitcoins will go and start mining.

So yes I believe next station should be $1700 but we need more time to see that happening.

[pinkflower]

It is now a bubble, when will bubble burst? You never know.

Keep fingers crossed now and hope that it keeps climbing.

Sorry but I strongly disagree!
Bitcoin is far away from being in a bubble. We move up and correct a bit. Higher highs and higher lows is the result. That's healthy growth.
But altcoins are 100% in a bubble! And that bubble will burst sooner or later.
And this could take bitcoin a bit down as well, while alts will completely get crashed. Or this then could trigger a new massive bitcoin bubble because everybody is shifting to Bitcoin.
But right now Bitcoin is doing pretty good.

Please explain how its not a bubble. Im not saying youre wrong, I want to know your reasons and analysis behind it since youre someone who has been in the forum longer than most of us.

Your expert opinion would mean a lot to us newbies.

[Slark]

It can easily attain that figure, as most of the alts are overvalued right now. When the alt bubble bursts, a lot of money from these coins are going to flow towards BTC. Right now, BTC is having a market cap of 61% of the total crypto. I expect it to increase to around 80% in the short term.

Some traders say that it is the other way around. That it is Bitcoin which is terribly overvalued and other altcoins need to catch on.
For example Litecoin, what is happening to LTC might be something more that usual pump and dump.
We can see real adoption signs - Coinbase added support for Litecoin, SegWit activation will follow in less than 1 week.

[Urban Crypto]

Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value. Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.

I am wondering what are the contributing factors for this continuing rally?  Please share your ideas for the enlightenment and guidance of some readers (including me).

It was interesting as I had seen some technical analysis of the trend of bitcoin price.  It waqs determined according to that analysis that if bitcoin crossed $1,300 it would move to $1,700 as you mentioned.  Simply looking at the support and resistance of the pricing on a basic level seems to support this assumption.  The question then becomes whether or not it can sustain a price over $1,700 as new support level or not.

[pinkflower]

It can easily attain that figure, as most of the alts are overvalued right now. When the alt bubble bursts, a lot of money from these coins are going to flow towards BTC. Right now, BTC is having a market cap of 61% of the total crypto. I expect it to increase to around 80% in the short term.

Some traders say that it is the other way around. That it is Bitcoin which is terribly overvalued and other altcoins need to catch on.
For example Litecoin, what is happening to LTC might be something more that usual pump and dump.
We can see real adoption signs - Coinbase added support for Litecoin, SegWit activation will follow in less than 1 week.

Is that it? Is that the only thing where you get Litecoin's value from? If the answer is yes then LTC is very overvalued and so are the other altcoins. Most of them have no utility.

[izanagi narukami]

Bitcoin will keep increse especially when it reach another halving, it's wise option for purchase bitcoin now and hold as long as possible IMO
I'm personally hold my 1 btc until 2020

[Mario274]

The bitcoin will reach $ 1700, but not now. I feel that there should be a price drop after which again there will be stabilization and growth.

[Ahab_Hunter_of_BearWhale]

Bitcoin has already reached 1700 on Bitfinex and 1699 on Poloniex. Anything could happen, system could decline, but may well see 2-3k by end of year, and perhaps even bigger run.

[SimmonenY]

I think it will not only reach 1700 but it'll go higher but it won't last long

[DD-Lex]

I think it will not only reach 1700 but it'll go higher but it won't last long

Of course, for a normal earning potential, a good price drop should happen, so that you can buy coins again at a low price.

[lukmandog]

Of course, for a normal earning potential, a good price drop should happen, so that you can buy coins again at a low price.

Very likely the bitcoin price will break the $ 1700. Increase in bitcoin is very strong, big investors have been plunged to further popularize bitcoin to the world.