Bitcoin hits $1,600 and one investor says it could rally to $4,000 in few months

[Meuh6879]

2,2k this year for sure, unlimited vs core isnt a big problem

true.

[erikalui]

The price is most likely going to fall below $1200 as the rise is insane. The only positive seems for MTGox that can again become solvent if the price reaches $2800-$2900 and they can pay their debts but as of now, only the recent speculation and hacks has led to the price rise from $1200 to $1700 now. Can't image bitcoin has increased by 70% in a year's time and the market is now having billions in trades.

[Slark]

For sure it was a spectacular climb, something difficult to see every year. But something very good, I particularly did not believe that the price went up so much... here we are in the 1700

Now,  $4000 is a lot, I think it's only 2 or 3 years from now.

As you said, we are reached $1700 already.

When I studied speculation threads and read expert's thoughts most of them were saying that $1500 is the final price we will achieve in 2017!
Some optimists said that we will see $2000. I tell you what  I think: time is not so important, what matter is serious bitcoin milestones in adoption.
After legalization of BTC by Japan current bull race happened. If Russia will legalize BTC in the future, then the price will instantly reach another threshold.

[Remnant503]

Hello everyone,
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?

[leowonderful]

The price is most likely going to fall below $1200 as the rise is insane. The only positive seems for MTGox that can again become solvent if the price reaches $2800-$2900 and they can pay their debts but as of now, only the recent speculation and hacks has led to the price rise from $1200 to $1700 now. Can't image bitcoin has increased by 70% in a year's time and the market is now having billions in trades.

Even if the "bubble" were to pop we would drop right back into the channel which is currently near 1400. 1200 is possible but it's much more likely if the unlikely were to happen that the price would be around 1400. If you use fancy trader lines this is completely expected if you disregard Gox as price would have theoretically been $50 then if Gox did not happen.

[chaser15]

Hello everyone,
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?

No one knows what is the exact reason behind all these things. But you can check some of the close things that might be the reason for this price increase. It will take a long paragraph to post it so I suggest just check it out thru Google.

The price is most likely going to fall below $1200 as the rise is insane. The only positive seems for MTGox that can again become solvent if the price reaches $2800-$2900 and they can pay their debts but as of now, only the recent speculation and hacks has led to the price rise from $1200 to $1700 now. Can't image bitcoin has increased by 70% in a year's time and the market is now having billions in trades.

Even if the "bubble" were to pop we would drop right back into the channel which is currently near 1400. 1200 is possible but it's much more likely if the unlikely were to happen that the price would be around 1400. If you use fancy trader lines this is completely expected if you disregard Gox as price would have theoretically been $50 then if Gox did not happen.

I would tend to agree. Once price decrease will happen, the correction price would still land to the price that is still can tagged as a high price. But if I will take the statement to my own analyzation, the bubble burst is not yet closely to happen as in the first place there is still no bubble that will burst. I mean, it's still forming and can't called completely as a bubble.

[BitcoinPanther]

Bitcoin is "fully valued" and could see a pullback in the short term after hitting $1,600 for the first time on Monday, according to one investor, but the price could go as high as $4,000 over the next 14 months.

The cryptocurrency has been on an upward move since April and was trading around $1,575.52 by early afternoon trading in London after hitting an all-time high $1,601.05 during morning trade, according to the Coindesk bitcoin price index.

In the last 30 days, bitcoin has risen over 33 percent


http://www.cnbc.com/2017/05/08/bitcoin-price-hits-record-high-and-4000-is-ahead-investor-says.html

Considering how fast bitcoin price going up, there is really a possibility that $4000 will be riched by Bitcoin next year.  Some crypto analyst said that Bitcoin adoption wave is just begining.  So there will be more people coming in to bitcoin coummunity and pouring fresh fund to bitcoin economy.  It is very possible since India had a good news about the possible bitcoin adoption in their country and India is a big country with lots of population.  Imagine if these number of people is the next in line to flock into Bitcoin.  We can observe a price surge.

[Remnant503]

http://www.c[Suspicious link removed]m/2017/05/08/bitcoin-price-hits-record-high-and-4000-is-ahead-investor-says.html

Many thanks for this link. It was quite informative. I understand now that there are multiple factors affecting the price, but its generally good news for the future. Except if the US Gov decided to make it illegal I guess we will have to go to Japan then or maybe nothing will change then?

I would really appreciate any clarifications on the following if possible:

1- In the video they said last year they cut off half of the quantity of BTC to prevent inflation. Who controls that and what happens when they release it back again on the market. Would the price drops back again?
2- It also mentions about the last month's change in the technology code of LiteCoin so it became faster in transactions. How does that affect BitCoin and is it possible to implement the same fast technology as LiteCoin?
3- How likely will a pullback in the price happens? Is it possible for it not to happen and the price continue going up?

Thanks.

[jaberwock]

http://www.c[Suspicious link removed]m/2017/05/08/bitcoin-price-hits-record-high-and-4000-is-ahead-investor-says.html

Many thanks for this link. It was quite informative. I understand now that there are multiple factors affecting the price, but its generally good news for the future. Except if the US Gov decided to make it illegal I guess we will have to go to Japan then or maybe nothing will change then?

I would really appreciate any clarifications on the following if possible:

1- In the video they said last year they cut off half of the quantity of BTC to prevent inflation. Who controls that and what happens when they release it back again on the market. Would the price drops back again?
2- It also mentions about the last month's change in the technology code of LiteCoin so it became faster in transactions. How does that affect BitCoin and is it possible to implement the same fast technology as LiteCoin?
3- How likely will a pullback in the price happens? Is it possible for it not to happen and the price continue going up?

Thanks.

1-Probably you are talking about the halving? When the blocks solved give half of the reward than before the halving. It is written in the code since Bitcoin started, and no one has control about when they are going to happen, and no one can do or undo a halving. It is part of Bitcoin design.
2-Litecoin activated Segwit, but no direct effect on Bitcoin because Litecoin and Bitcoin are different coins. Probably won't be implemented in Bitcoin because would require 95% or so approval of the miners(currently around 20%, I think)
3-I don't know, but I see no reason for a big fall

[jjacob]

Within 24 hours of CNBC publishing this article, Bitcoin hit $1800.
Usually, it is only the print media which publishes outdated articles. With Bitcoin's wild swings, even web media is finding it tough to catch up. 

[cengsuwuei]

iam not want bitcoin price incraese to 4000 dollar
because can many problem if bitcoin price very high, about sending fee is high, long time confirmation
and very dificult can find bitcoin if bitcoin price very high

[CoinCube]

Hello everyone,
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?

Think of it like a tech stock.

Current Market Cap (billion USD)

Twitter         13.4

Snapchat      26.4

Bitcoin           28.7

Yahoo          47.7

Facebook      438.5

Market has decided Bitcoin is no longer equals a Twitter. Now it is about a Snapchat in value.

Given the underlying potential of the technology it is entirely possible that some large institutional investors have decided that it may be worth a Yahoo which if true bodes well for gains in the future.  

[freebutcaged]

I truly believe that only the smart people with the ability to see the big picture predicting the future by doing that not because they know magic but because they can see the blue prints of the design.

If you hang everything from the start I mean the entire history of Bitcoin from a wall and walk 10 feet away then you will start to see it clearly.

It doesn't get any easier, 21M Bitcoins, hundreds of new members joining the community every day, every 2 weeks difficulty increases due to the nature of mining competition.

Banking empire gets worse every day and people will seek for new money the best of them free of bank influences is Bitcoin, so more will come our way in the future.

$1800 already and if we demand for $1950 I'm sure we'll get there as well we just need to think before action, don't let greed and fear scare you away and don't deny yourself your future.

[U2]

Hello everyone,
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?

Think of it like a tech stock.

Current Market Cap (billion USD)

Twitter         13.4

Snapchat      26.4

Bitcoin           28.7

Yahoo          47.7

Facebook      438.5

Market has decided Bitcoin is no longer equals a Twitter. Now it is about a Snapchat in value.

Given the underlying potential of the technology it is entirely possible that some large institutional investors have decided that it may be worth a Yahoo which if true bodes well for gains in the future.  

Lol omg people love their dumb useless shit that's for sure. I don't have any of those so that's why they aren't worth trillions hahaha . Bitcoins have real value, unlike anything else on the planet (slight exaggeration...maybe).

[mundang]

Bitcoin will have a hard time reaching 4000$ this year or nexy even it was said by many investors that it will achieved the 4000$ price .
Maybe 5 more years before bitcoin hits 4000$

[Pursuer]

it is interesting that whenever bitcoin price rises, everyone comes out and start making these speculations, and most of these news comes from people whom we never heard of before, or they never made any statement about bitcoin.
I say these kind of speculation are only good if they did it back when price was low. for example when price took a dive down to $900 from $1200. not when it is showing all signs of rise.

and what's up with these short term huge price rise kind of deals! $2400 rise in a few months!! c'mon!

[The Sceptical Chymist]

Pfft.  If this 'one investor' is as crazy as half the fools on this forum--or as caught up in the euphoria--this is nothing to start a circle jerking session over.  Not that we don't have one in progress as I write this.  In bull markets people go fucking nuts and predict that the Dow is going to be double what it is next year, and blah blah blah.  No one knows.  And this is just one opinion.

Yeah it already hits 1,600 but I think it is pretty much hard for it to be in 4,000.
I think maybe in a couple of year it could but who know's maybe it could.

I can't hit the friggin' ignore button fast enough on bitcointalk.  This place is infested with garbage like this.

[kreskko]

Pfft.  If this 'one investor' is as crazy as half the fools on this forum--or as caught up in the euphoria--this is nothing to start a circle jerking session over.  Not that we don't have one in progress as I write this.  In bull markets people go fucking nuts and predict that the Dow is going to be double what it is next year, and blah blah blah.  No one knows.  And this is just one opinion.

Yeah it already hits 1,600 but I think it is pretty much hard for it to be in 4,000.
I think maybe in a couple of year it could but who know's maybe it could.

I can't hit the friggin' ignore button fast enough on bitcointalk.  This place is infested with garbage like this.

Do not be so hot, because everyone has their own point of view and has the right to express it. Of course many opinions and I do not like, but you will not do anything.

[batang_bitcoin]

I was just thinking about that this year will end up to $1,500 but it was still too early. And after the first quarter of this year we saw the price went up to $1,600 and now at $1,700+ I would not say that $4,000 this year is impossible because the market is becoming bigger but it will take time before crossing that mark.

[bikbik2]

I was just thinking about that this year will end up to $1,500 but it was still too early. And after the first quarter of this year we saw the price went up to $1,600 and now at $1,700+ I would not say that $4,000 this year is impossible because the market is becoming bigger but it will take time before crossing that mark.

Until the end of the year, the market may still explode and the price of 4k dollars may not be the limit, if we look at the growth rate.