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Author Topic: Phenomenal rise of Bitcoin price!  (Read 1072 times)
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May 12, 2017, 07:49:33 AM
 #1

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?

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May 12, 2017, 08:07:35 AM
 #2

6 grand is a bit much, I must say. Though it is possible, around 2.5k USD would be the price of bitcoin this year (peak price).

This incredible rapid increase in bitcoin's price was due to the wide acceptance of bitcoin, thus, increasing demand dramatically. Since the announcement of Japan that they will accept btc as a mode of payment, many had gained interest in bitcoin and currently, Australia also announced their acceptance of crypto currency. Hence, the rapid increase in bitcoin's price is not so surprising.

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May 12, 2017, 08:13:25 AM
 #3

Yup i think at the start of the year i read $3k is the target, its increase yesterday was pretty intense and thought it was going to not stop until it hit $2k but it took a tumble.
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May 12, 2017, 08:36:33 AM
 #4

when the price was stuck at $1000 i thought $2000 would be difficult to reach it but apparently it wasn't impossible any longer that even still not hit those price yet but i think it would happened soon however $6000 doesn't really makes sense for me for this year and probably the highest peak only at $3000 on 2017

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May 12, 2017, 08:42:32 AM
 #5

I think projection for this year 2017 is $4,000 and we are almost half of it in half of this year. Meaning it is very possible to reach $4,000 and beyond. This phenomenal rise in my opinion is due to demand created by the approval of bitcoin in Japan, Philippines and recently in Australia and many countries are expected to join the bandwagon.

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May 12, 2017, 08:42:47 AM
 #6

I think it will likely take a tumble in the short term, but long term I can see $2,000 to $3,000 by the end of the year.

Beyond that, expect exponential increases.

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May 12, 2017, 09:00:33 AM
 #7

6 grand is a bit much, I must say. Though it is possible, around 2.5k USD would be the price of bitcoin this year (peak price). This incredible rapid increase in bitcoin's price was due to the wide acceptance of bitcoin, thus, increasing demand dramatically. Since the announcement of Japan that they will accept btc as a mode of payment, many had gained interest in bitcoin and currently, Australia also announced their acceptance of crypto currency. Hence, the rapid increase in bitcoin's price is not so surprising.

Yes, 6K level is already beyond what Bitcoin can go at least for this year. Maybe 3 years from now we might see Bitcoin reaching that level and even beyond. For this year, I am expecting that Bitcoin can go maybe 2.5K or even 3K if there would be no corrections on the market. Japan is the biggest stimulus for the Bitcoin surge so far. And since there can be more countries to follow Japan, the price of Bitcoin can really be looking up.

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May 12, 2017, 09:02:19 AM
 #8

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?

I think that's far too ambitious. I'd be happy to see around $2500 by the end of the year. I'd love to see your prediction proved right though.
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May 12, 2017, 09:06:51 AM
 #9

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?


no one knows exact reason, some are saying that because of brexit the price of btc is raising.

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May 12, 2017, 09:08:29 AM
 #10

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?

I don't think fresh money will flow in at this rate, if so, then it will be a huge bubble and it will not benefit BTC economy in long term.

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May 12, 2017, 09:45:57 AM
 #11

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?

you are talking out of excitement Smiley
$6000 is highly unlikely to happen this year. we are not yet at that much adoption. the current big rise is mostly because of the hype about mainstream adoption but also partly because of the real adoption that happened in a couple of big countries.
and also as always, when price rises and bitcoin gets some positive media coverage, new money comes in, a lot of new investors a lot of new bitcoin users come in and that always creates a bigger rally.

but $6000 needs a lot more time for these adoptions to grow.

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May 12, 2017, 10:27:45 AM
 #12

Yup i think at the start of the year i read $3k is the target, its increase yesterday was pretty intense and thought it was going to not stop until it hit $2k but it took a tumble.


Sure, but hopefully before the end of the year we will definitely hit the 2k target. It's been a really great first half of the year and so I'm optimistic of similar circumstances going forward.



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May 12, 2017, 10:31:19 AM
 #13

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?
->  *$6000
-> Nope,it won't reach the milestone this year,that's just not how statistics work.You are being hypothetical,over expectations.
-> The reason behind all the price increase models remain the same,increase demand,less supply.The external events are do influence the holders.


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May 12, 2017, 10:43:22 AM
 #14

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?
With the way price is going, its not out of place or out of order to start assuming that it could get that high but the simple truth there is that can it actually reach that high without forces trying to curtail such influence. The issue is that bitcoin has been able to be potent against the news coming from China to wittle it down but in this case I see beyond China coming with the attacks and when it happens, will bitcoin be able to stand that and still maintain the increment in price?
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May 12, 2017, 10:53:57 AM
 #15

a month ago if you asked me what the price will be in mid May, i would have told you that it will be somewhere around $1400 if things are good and $1200 if they are bad.

and here we are now! bitcoin has finally hit mainstream with Japan. everyone is talking about it and it is widespread.

all that said, we can be sure about one thing: $6000 until the end of this year woud be a big bubble if it happens.














 

 

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May 12, 2017, 10:58:47 AM
 #16

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?
With the way price is going, its not out of place or out of order to start assuming that it could get that high but the simple truth there is that can it actually reach that high without forces trying to curtail such influence. The issue is that bitcoin has been able to be potent against the news coming from China to wittle it down but in this case I see beyond China coming with the attacks and when it happens, will bitcoin be able to stand that and still maintain the increment in price?

Well also one potential of it to grow that countries may start to adopt it aside from Japan. Cause it already is affecting world economy and business worlds. What we can observe in the near future is that goods can now be transacted through bitcoin. Today it might have problems but i think that is expected to be fix because this is only just one of other problems btc may encounter.

                                     
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May 12, 2017, 11:07:10 AM
 #17

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?
Seriously 6000$ Huh well i'm not an optimistic guy but all i can say that bitcoin price would be touch 2k dollars in the near future on the other hand it might be down but not too much. If you're talking about when bitcoin hitting 6000$ i think maybe in 10 years later or so not this year it such an impossible to happen unless you tell me the reason why bitcoin could hit 6k dollars this year, however many people out there predict that it could rally to $2,000 in few months, let's see what will happen.

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May 12, 2017, 11:12:50 AM
 #18

As we are already witnessing price rise. I think it will reach 6000$ milestone this year end. Do you agree? What do you think? What are the reasons behind this price rise?

It's hard to believe what you're saying. I think you should think hard before talking about anything. The $ 6,000 incremental bitcoin is an impossibility, without any factor that can impact and make that happen. An advice for you, look at the fact, despite the high value of bitcoin, its popularity is declining in the market, do not illusion anything similar. That's a stupid.

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May 12, 2017, 11:29:18 AM
 #19

6000$ this year? Are you nuts? Guys let's be serious. I agree that the price is great at the time and we all secretly wish huge numbers but we have to stay with both legs on the Earth. And in our minds we all have to keep the possibility that the price can go down also and that the pump will not go indefinetely. Market has its rules.

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May 12, 2017, 11:34:01 AM
 #20

Many people have different experience on guessing the price of bitcoin, but everyone​ knows that after Japan makes bitcoin is a legalized currency in their country then the price of bitcoin increasing, no one knows where it will stops.


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