Bitcoin price overvalued? Price Today: $1,827

[Bitcoinsummoner]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

[Herbert2020]

Japan news is obviously affecting everything but this rise is officially crazy at this point. which, to be honest, makes it a bit scary to me. i think we all were expecting a rise after the big dip of earlier this year and after all the drama and FUD cleared from the community, i was also expecting an easier rise above $1000 in general, you know because below that price had already happened and everyone had targets for 2 or 3 years to sell or do something at $1000 mark but above it (like $1500) is new and nobody had any strict plans of "this is the end" kind of deal.
and that mentality alone removes a lot of the sell pressure on the market and can make the rise so much easier.

[Vixmore]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

Yeah the legalisation of Bitcoin in Japan has definitely helped along with the new budget in Australia. That has also influenced it a bit. I hope it keeps rising though.

[kwukduck]

It is at least an order of magnitude overvalued and it will pop soon!
Proper TA put's a supported price around 700-900 usd with a true target value of around 500 usd.

Don't be left holding the bags, you have been warned.

And that is all considering we can maintain current core situation which is almost sure we cannot.
The hardfork is pretty much imminent with 46% BU support and growing. Only 4% to go before we have the hardfork.

It will not just crash the price it will oblitterate it. Bitcoin will sink into the abyss as a low value altcoin.

Oh bets are still open on this. I'm offering 10k USD up for bets. Still no takers i guess? Cause you're all so certain...

[Denker]

Japan news is obviously affecting everything but this rise is officially crazy at this point. which, to be honest, makes it a bit scary to me. i think we all were expecting a rise after the big dip of earlier this year and after all the drama and FUD cleared from the community, i was also expecting an easier rise above $1000 in general, you know because below that price had already happened and everyone had targets for 2 or 3 years to sell or do something at $1000 mark but above it (like $1500) is new and nobody had any strict plans of "this is the end" kind of deal.
and that mentality alone removes a lot of the sell pressure on the market and can make the rise so much easier.

Yeah this great to see on one hand but it's also a bit too fast how we move up at the moment.
Imo the market may try to push to $2000 and then some correction may happen.Hopefully not too much.
Japan is definitely kicking in as fuel for the price rise. Australia by the way is going to remove goods and service tax on bitcoin and other crypto currencies soon. This may push the price a bit as well.

[mattermaster]

Yeah this is the reason why bitcoin price goes overvalued.
I personally believe that the price will go over $3000 soon because many other territories are yet to anounce it a legal currency. Those who retain bitcoins, will get huge profits i think.

[iqlimasyadiqa]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

This is a high price of course. This may actually make bitcoin prices fall when there is bad news. I prefer the normal bitcoin price movement. But it should be thankful for those of us who hold a lot of bitcoin. This can be profitable when we buy bitcoin 3 months ago. Hundreds of dollars we can take in each bitcoin. Japan is certainly one of the factors of rising bitcoin prices today. They do reconstruction and application of bitcoin legally in their country.

[kwukduck]

IF bitcoin will not be criminalized AND IF bitcoin does not get forked. Current prices are to be considered very low even.
But we all know either let alone bith IFs will happen only when pigs fly.

[Amph]

IF bitcoin will not be criminalized AND IF bitcoin does not get forked. Current prices are to be considered very low even.
But we all know either let alone bith IFs will happen only when pigs fly.

i don't think you understand that who is buying now is indeed an average joe and can't give a shit about hard fork, he/she don't even know what and hard fork is

all the new investors are probably japanese, and australian are coming too, if other people see a spike like that they will jump into the train without thinking

the dump done because of the fear of the fork was only done by insider manipulators, that want to buy cheap coins, every time you see a dump in bitcoin is because of that

all dump are fake here, the only way bitcoin will go is up in the end, the intrinsic design for bitcoin allow for a deflationary nature no matter what the other say or think

[Shinpako09]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

imo that affects a lot the price of btc the same if theres a bad news. The demand will obviously get high because of new investors or new people that will join the btc community.

[kwukduck]

@Amph the hardfork will cause complete chaos on the network, on the exchanges, whole vats of politics and emotions will be opened up and all of it will cause bitcoin to become the next shitcoin. And it will happen in a flash basically.


It doesn't matter if they know or care about the hardfork, they will care when the house of cards comes falling down.

[Thekool1s]

IF bitcoin will not be criminalized AND IF bitcoin does not get forked. Current prices are to be considered very low even.
But we all know either let alone bith IFs will happen only when pigs fly.

i don't think you understand that who is buying now is indeed an average joe and can't give a shit about hard fork, he/she don't even know what and hard fork is

all the new investors are probably japanese, and australian are coming too, if other people see a spike like that they will jump into the train without thinking

the dump done because of the fear of the fork was only done by insider manipulators, that want to buy cheap coins, every time you see a dump in bitcoin is because of that

all dump are fake here, the only way bitcoin will go is up in the end, the intrinsic design for bitcoin allow for a deflationary nature no matter what the other say or think

I agree with AMPH, But the rise is too rapid right now. We will see a small correction soon, What i think is we will hit around $2000 mark and then a correction will happen, Dropping price down to around $1600 stablish, But its all speculation. We may see even higher.


As for kwukduck if bitcoin is destined to be doomed, Why are you here? Don't you have something better to do with your time? Or are you one of those guys who lost shit load of money because of poor decision? 

[Pursuer]

IF bitcoin will not be criminalized AND IF bitcoin does not get forked. Current prices are to be considered very low even.
But we all know either let alone bith IFs will happen only when pigs fly.

then pigs must be flying right now, all over the world because bitcoin is being Legalized as a legit currency in many countries, initiated by Japan and followed by a lot of other big countries. and the IFs seems to be happening as we speak.

2 huge countries in one place: www.cnbc.com/2017/04/12/bitcoin-price-rises-japan-russia-regulation.html
our Aussie friends are hard at work too: https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1

[Carlsen]

I can imagine that bitcoin price correlates to bitcoin acceptance.
When the acceptance goes up quickly in many countries, the price follows in a similar speed.
That can be a real explanation to what we are seeing these days.
And the price does not even have to drop back again necessarily.
The possibilities that come alonge with the acceptance will stay, so might the price.

[Junko]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

Overvalued? Maybe, maybe not. Apparently there are a significant number of people who think it is undervalued otherwise they wouldn't be buying and the price wouldn't be rising.

As far as Japan, it's been speculated in articles that 260,000+ business could be accepting bitcoin BEFORE the start of summer. https://www.cryptocoinsnews.com/bitcoin-accepted-260000-stores-japan/

Imagine how many more Japan business will be accepting bitcoin by the end of this year and beyond. Could be bitcoin is actually undervalued.

In any case, Bitcoin doesn't care if it's overvalued or undervalued. Bitcoin is just going to bitcoin as it always does.

[Bitcoinsummoner]

Watching the bitcoinwisdom from bitstamp to another exchange site i notice that many active traders out there that are pushing up the price. and the others also selling or dumping their bitcoin its too active not the same as before that there is slow movement of trading inside the chart but not its too active to exchange and trading..
I thinking that there are still people are buying more bitcoins these days that i think very hard to think that the price will go down.
Watch out for 2013 maybe it will be the same as 2013  when the price was increase too much look at the chart today..

@Amph the hardfork will cause complete chaos on the network, on the exchanges, whole vats of politics and emotions will be opened up and all of it will cause bitcoin to become the next shitcoin. And it will happen in a flash basically.


It doesn't matter if they know or care about the hardfork, they will care when the house of cards comes falling down.

Hoping that it will not happen in the future.. but i think its impossible to happen that bitcoin will be shitcoin.. since we already use it and many company use it..
Hardfork means making clone of bitcoin? or fake bitcoin? i think it will be different code for sure it will not accept by blockchain..

[rickadone]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

I just recall what people did in early 2013. So, no surprises on you were being wrong with your speculations.

I am 100% sure bitcoin in not overvalued as exchanges are witnessing enough volume to support these rapid surges. I guess we are heading toward $10k levels before end of this year and when considering $10k levels this $1800 does not seem obviously overpriced.

Japan's legalization is just a trigger and new investors from around the globe must be the reason. In my view it is highly expected one. When new investments rushing into bitcoins and new ATH will keep on convincing people to get into bitcoins.

[Pursuer]

Watch out for 2013 maybe it will be the same as 2013  when the price was increase too much look at the chart today..

2013: price went up from $200 to $1200 in a month which is a 500% increase in one month.

equivalent of the same scenario in 2017 means going up the same percentage of 500% or at least near that percent.

from $1240 (exactly one month ago) up 500% means we should currently be at $7,440 which we obviously are far off!
going up from current $1850 up 500% in next month means reaching $11,100 until end of June.

and lets not forget that we are only up 72% total in this year and bitcoin has been rising 150% to 200% in previous years without good news such as adoption of a big country such as Japan, Russia, Australia, Canada, India, China,... as a currency.

[SvenBomvolen]

Of course positive news from Japan makes the price to grow. But I didn't expected that bitcoin will come close to 2000$ point so fast. With such temps of growth now we must be all regret about our past withdraws.

[shinratensei_]

I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?

Regarding from the latest news of bitcoin, and it can still be considered undervalued. AU try to make a consideration about bitcoin like what was happening with japan earlier.

Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?

That is it. Japan adoption has given a lot of motivation for other countries to try to give a legalsm for bitcoin.

That means the government news can be a sentiment data for the rise of bitcoin.