Is this the top?

[Laergan]

Hi all,

I read the news of Bitcoin on an almost daily basis, multiple times a day. When I first started reading about bitcoin last month, the news were all positive that bitcoin would continue to rise and there were even some estimates of it reaching as high as 250,000 USD by 2030, and 1million USD in the future. One article went on to say that if BTC were to replace the world's economy, it was be 2million USD each. That is a staggering number to even think about. I love the concept of the blockchain and the use of BTC as an asset currently, and hopefully a currency in our future. Do you guys think it will reach 1million USD per coin or is that an absurd number to even say? What are your predictions on the coin?

This week and the last, when bitcoin reached $5000, all the predictors that were bullish were right. But now its starting to drop, and I havent been seeing any more crazy bullish predictions on the price. Do some of you think that Bitcoin will fall drastically sometime soon, or even halve in price?

[EpicFail]

At the very least it is a local top. However I don't think $5,000 will remain the top for too long. The awareness of Bitcoin is still growing.

[pooya87]

one thing you need to know is that news sites are exaggerating a lot and they are mostly click-baits instead of legit journalism. in other words saying "bitcoin will soon be $1,000,....,000" is as dumb as saying "bitcoin will die soon".
the thing is, when bitcoin is on the rise, everyone looks for articles calling the top and everyone becomes experts and calls a different top of huge numbers.
the next week when the correction starts, everyone looks for articles calling the bottom and again everyone becomes experts and calls idiotically small numbers.

the fact that i see is that during all this time bitcoin supply is still the same limited amount while its demand is constantly rising. as the media coverage increases the demand also goes up. and that leads to higher and higher prices.
with advances that bitcoin makes, such as its scaling (that happened last month) or Lightning Network,... the adoption will grow even more and with it the price rise.

[CryptoBry]

one thing you need to know is that news sites are exaggerating a lot and they are mostly click-baits instead of legit journalism. in other words saying "bitcoin will soon be $1,000,....,000" is as dumb as saying "bitcoin will die soon".
the thing is, when bitcoin is on the rise, everyone looks for articles calling the top and everyone becomes experts and calls a different top of huge numbers. the next week when the correction starts, everyone looks for articles calling the bottom and again everyone becomes experts and calls idiotically small numbers. the fact that i see is that during all this time bitcoin supply is still the same limited amount while its demand is constantly rising. as the media coverage increases the demand also goes up. and that leads to higher and higher prices. with advances that bitcoin makes, such as its scaling (that happened last month) or Lightning Network,... the adoption will grow even more and with it the price rise.

All of these news about Bitcoin can be compared to the moving sea in the seashore...there would be high and low tides. Now every time there can be a high tide everybody can become prophets of the bloom and whenever there can be low tides people who are the prophets of doom are taking the stage. Well, this behavior has become normal so there is nothing we can do about it except not listening to these FUD-spreading items.

[Leonard2016]

the rise is just starting up.
taking a couple of steps back to recover is always a very good sign actually. you should be happy that bitcoin dropped otherwise all the bubble calls would have been true. and it has been falling before too.

[danherbias07]

I am sure this is not the highest amount it will be but a million dollars is just too much.
Maybe world peace will happen before that and all nations will be united just so to bring down bitcoin.
That is what I think, it will become a thread to the whole world that they want it to exist anymore and press the delete button for it to stopped.

[Shinpako09]

Expect the unexpected in btc world. $5000 is considering a high amount for 1btc but it is too low for a said maximum or highest amount rather.  For sure the price would surpass it, if only China didn't banned ICO, we should have stayed at $4500. For now the $5k prediction this month is becoming vague. And still unclear on how long the fall will last.

[Jating]

Hi all,

I read the news of Bitcoin on an almost daily basis, multiple times a day. When I first started reading about bitcoin last month, the news were all positive that bitcoin would continue to rise and there were even some estimates of it reaching as high as 250,000 USD by 2030, and 1million USD in the future. One article went on to say that if BTC were to replace the world's economy, it was be 2million USD each. That is a staggering number to even think about. I love the concept of the blockchain and the use of BTC as an asset currently, and hopefully a currency in our future. Do you guys think it will reach 1million USD per coin or is that an absurd number to even say? What are your predictions on the coin?

This week and the last, when bitcoin reached $5000, all the predictors that were bullish were right. But now its starting to drop, and I havent been seeing any more crazy bullish predictions on the price. Do some of you think that Bitcoin will fall drastically sometime soon, or even halve in price?

No, I don't think that fall drastically as you have describe. Its only when the news coming from China really pull the prices back after enjoying a massive bull run that saw hitting $5000. But if you will check the price now, its trading at average of $4200 so for me it has already recovered from the negative news. I think if you will read carefully those predictors, they said that their might be a pullback before going in at $5000-$7000. Although most of them didn't see the news coming from the Chinese.

[neinnein125]

I don't think we reached top still. Bitcoin has room to reach around $15000 in a year and I am not kidding. Its still undervalued. Halving and more real world usage will help bitcoin LOT.

[arpon11]

This week should not decide the fate of bitcoin as many times we have experienced downward movement in price. I think the banned on ico and fake news from China last week is still affecting the market. I think alot need to be done for bitcoin to resumes it upwards prices movement as the price has been trap a little bit above $4,148.

[Gotottack]

Hi all,

I read the news of Bitcoin on an almost daily basis, multiple times a day. When I first started reading about bitcoin last month, the news were all positive that bitcoin would continue to rise and there were even some estimates of it reaching as high as 250,000 USD by 2030, and 1million USD in the future. One article went on to say that if BTC were to replace the world's economy, it was be 2million USD each. That is a staggering number to even think about. I love the concept of the blockchain and the use of BTC as an asset currently, and hopefully a currency in our future. Do you guys think it will reach 1million USD per coin or is that an absurd number to even say? What are your predictions on the coin?

This week and the last, when bitcoin reached $5000, all the predictors that were bullish were right. But now its starting to drop, and I havent been seeing any more crazy bullish predictions on the price. Do some of you think that Bitcoin will fall drastically sometime soon, or even halve in price?

Those false prophets has been wrong so many times. Bitcoins has always surpassed all expectations ever made! So I don't think this is the top and it is running a bullish run. This is just merely temporary because of the fears brought about by a lot of news from china, though I think after it gets cleared, watch how much bitcoins will skyrocket!

[btcney]

Hi all,

I read the news of Bitcoin on an almost daily basis, multiple times a day. When I first started reading about bitcoin last month, the news were all positive that bitcoin would continue to rise and there were even some estimates of it reaching as high as 250,000 USD by 2030, and 1million USD in the future. One article went on to say that if BTC were to replace the world's economy, it was be 2million USD each. That is a staggering number to even think about. I love the concept of the blockchain and the use of BTC as an asset currently, and hopefully a currency in our future. Do you guys think it will reach 1million USD per coin or is that an absurd number to even say? What are your predictions on the coin?

This week and the last, when bitcoin reached $5000, all the predictors that were bullish were right. But now its starting to drop, and I havent been seeing any more crazy bullish predictions on the price. Do some of you think that Bitcoin will fall drastically sometime soon, or even halve in price?

The drop was caused by China's ban on ICOs and some unconfirmed news being spread about China's plans on eliminating all of its national bitcoin exchanges. The second of which caused the significant drop in price of late.

As you may know, this is completely unconfirmed. Meaning that we can only speculate on it and most likely, it is dead wrong.

I think that in the following days people will buy into bitcoin even more when they realize that China probably never had these intentions anyways to begin with, and the whole thing was probably made up. It is extremely likely we will break the ATH then.