btc hits 5300$ but will it drop back below 5000$ ?

[therealfalcon]

a very happy moment that btc crossed 5300$
what you think will it stay over 5000$ now?


Although it isn’t entirely clear why the digital currency is resurgent, here are a few reasons market participants attribute to its record-setting advance:

1. Bets on digital-currency dividend
Some investors are wagering that a pair of so-called hard forks in core bitcoin, which will create two separate versions of the No. 1 cryptocurrency, will boost the holding of digital-currency assets.

On Oct. 25, so-called Bitcoin Gold designed to address challenges mining for bitcoin using computers to solve complex problems, will be launched.
On Nov. 18, bitcoin will face a second version of Segregation Witness, or SegWit2x, which would create an alternative version of the bitcoin.

2. China bitcoin exchanges
Charles Hayter, chief executive officer and founder of CryptoCompare, said heightened speculation that China may license digital-currency exchanges and allow them to reopen after a recent ban. Beijing last month moved toward a broad clampdown on bitcoin trading.

3. Amazon.com speculation
There are rumors about Amazon.com Inc. AMZN, -0.01%  accepting bitcoin on its retail platform. According to a blog post on Seeking Alpha, Amazon could announce that it will accept bitcoin as payment on its site when it reports quarterly results Oct. 26, which could lead others, including Alibaba Group Holding Ltd. BABA, +0.04% to follow suit.

4. FOMO
Fear of missing out, or FOMO, also may be propelling bitcoin and other cyber currencies higher. A cycle of news covering the virtual currency’s path to new heights can draw fresh attention to it and encourage further buying, thereby propelling the asset ever higher.

Of course, there are plenty of worries that the asset has all the telltale signs of a speculative bubble.

5. Wall Street attention
As the virtual currency gains more attention from average folks, it is also garnering eyeballs and investments from hotshot Wall Street veterans. A co-founder of alternative asset manager, Fortress Investment Trust, Michael Novogratz is starting a $500 million fund to invest in cryptocurrencies and told CNBC during a recent interview that the cryptographic currency could be worth $10,000 in six to 10 months.

[AverageGlabella]

More people are buying in preparation for the hard folk and getting their bitcoin gold. I do think we will see it dip below once again

[therealfalcon]

More people are buying in preparation for the hard folk and getting their bitcoin gold. I do think we will see it dip below once again

oh you think so

[pixie85]

More people are buying in preparation for the hard folk and getting their bitcoin gold. I do think we will see it dip below once again

I also think we'll go below $5000 at some point. Corrections are to be expected after a spike and this situation is no different.
I don't think it will happen because of bitcoin gold. It's possible that people will sell their BG when they get it and use that money for their expenses while still holding Bitcoins.

[AverageGlabella]

More people are buying in preparation for the hard folk and getting their bitcoin gold. I do think we will see it dip below once again

I also think we'll go below $5000 at some point. Corrections are to be expected after a spike and this situation is no different.
I don't think it will happen because of bitcoin gold. It's possible that people will sell their BG when they get it and use that money for their expenses while still holding Bitcoins.

you are probably right but I think theres going to be a split in decision and both markets will get a little messy. especially with the new accusations that bitcoin gold has been pre mined over at reddit.

[therealfalcon]

More people are buying in preparation for the hard folk and getting their bitcoin gold. I do think we will see it dip below once again

I also think we'll go below $5000 at some point. Corrections are to be expected after a spike and this situation is no different.
I don't think it will happen because of bitcoin gold. It's possible that people will sell their BG when they get it and use that money for their expenses while still holding Bitcoins.

you are probably right but I think theres going to be a split in decision and both markets will get a little messy. especially with the new accusations that bitcoin gold has been pre mined over at reddit.

to be honest i don't trust this bitcoin gold and i don't want it either, i am happy with my coins

[shield132]

What a curious things happen, I couldn't imagine if bitcoin would go from 4800 to 5300 in this month or in second month but as it seems this happen today, nearly 10% rise, wow, it's amazing. I think from the past experience, the fact that bcc didn't affect price and it rised again, people has this hope and this affects market, price rises. Maybe I am wrong but can't see any logic here, so much rise in one day and especially today.

[jumpsuitjoe]

It's almost guaranteed to go back down. Below $5,000? probably. The split is going to cause a massive sell off as people flock back to alt coins after the hard fork and they get their Bitcoin Gold. I haven't seen buy spikes like this in a long time. The candles are ridiculous right now in the green. But just as quickly, right after the fork, people are going to want their liquidity back. So, I'm guessing it drops back to around $4,600 after the fork.

[djselery]

The Bitcoin's price is known by its volatility. The price hits 5300$ recently but it can drop back below 5000$, however the price in general is going up so even in this case it will increase again after some time and reach highest levels. You need to be patient because trading bitcoin need time and patience, as the price is not stable.

[AverageGlabella]

It's almost guaranteed to go back down. Below $5,000? probably. The split is going to cause a massive sell off as people flock back to alt coins after the hard fork and they get their Bitcoin Gold. I haven't seen buy spikes like this in a long time. The candles are ridiculous right now in the green. But just as quickly, right after the fork, people are going to want their liquidity back. So, I'm guessing it drops back to around $4,600 after the fork.

we'll probably see a very low price for bitcoin gold and it will be transferred into alt coins very soon after the fork. effectively its free money for anyone who has bitcoin so it wont be worth too much at launch.

[africa34]

Bitcoin has done more than +5000 I'm still watching the market just what you think?
Can I trade now?, or wait after the hard fork

[gentlemand]

It's only been above $5000 for a few hours. Of course it'll head back there at some point.

As it becomes clearer that this gold thing will be unlisted and worthless and S2X looks increasingly unlikely to happen I expect BTC to calm down and fall fairly soon.

[J. Cooper]

It's really hard to say how the market will react to the upcoming hard fork. A lot of people are hedging into bitcoin right now hoping to get some free bitcoin gold. I am not sure if the price will stay at 5000 but I think it will until we fork. After the fork has happened we might drop back to low 4000s.

[dothebeats]

I'd love to see it go high since my cash wallets are already drained atm, but the price could probably drop back to sub-$5000 again before Bitcoin Gold's fork. Personally I think that after the fork on Oct. 26, bitcoin's price could take a massive increase considering that most people sell their share of Bitcoin Gold for BTC after it has been pumped like crazy. If there's anything that these forks do to bitcoin, it is the crazy pumps that follows after the forks conclude.

[InvoKing]

a very happy moment that btc crossed 5300$

what you think will it stay over 5000$ now?


and what caused this sudden jump in market

Well, I think that we could see in the next few hours a drop due to people/big whales cashing out for some profit. I just hope that the price will stay +$5000  

[therealfalcon]

It's really hard to say how the market will react to the upcoming hard fork. A lot of people are hedging into bitcoin right now hoping to get some free bitcoin gold. I am not sure if the price will stay at 5000 but I think it will until we fork. After the fork has happened we might drop back to low 4000s.

i think it won't be less them 4500$

[rebel92]

a very happy moment that btc crossed 5300$

what you think will it stay over 5000$ now?


and what caused this sudden jump in market

I have a feeling the bitcoin gold fork will lead to a situation where people will be disappointed with the lack of "free money" it will give them because its not going to be a spectacle like bitcoin cash.  Not sure what to think of what will happen 2x fork.  regardless I cannot see bitcoin dropping much lower than 3900 again without a massive amount of buyers willing to buy at that price.

[Vaflia]

I think these events will likely lead to a rise in bitcoin to$ 6,000 and only then (in early November) we will fall to$ 3000 IMHO

[bitcoin31]

Hi, The price of bitcoin as of now is already 5400 dollars and it continue to increase and fork is near . And we dont know what actually happen to bitcoin price once the fork happen maybe the price decrease or increase or become stable . But if the price of bitcoin decrease or below 5000 dollars you can buy more bitcoin in cheap price because for sure it will increase again the price after few hours or few days.

[CodyAlfaridzi]

I'm happy and sad at the same time. Happy obviously because it finally breaks through $5K, which most of us have foreseen. Sad because I only hold so little amount at the moment. Wish I was richer so I can get more Bitcoin

It definitely will experience a correction to sub $5K very soon. I don't see it (and I really hope) it doesn't get any higher before having another drop. Please give me another chance to buy cheap Bitcoins!

Hi, The price of bitcoin as of now is already 5400 dollars and it continue to increase and fork is near . And we dont know what actually happen to bitcoin price once the fork happen maybe the price decrease or increase or become stable . But if the price of bitcoin decrease or below 5000 dollars you can buy more bitcoin in cheap price because for sure it will increase again the price after few hours or few days.

This fork is unlikely to give any effect on the price. It is way less risky (in terms of economy split) than the August 1 fork.

[BitMaxz]

Well looks like the price is getting more increasing and i think the price could be increase more until $5500 i am correct with my own prediction since bitcoin cash  not successful to increase until above $5,000 bitcoin gold right now help a lot to increase the value of bitcoin because of the free coin..
So i was expecting to see that the price of bitcoin gold are also valuable after the fork..
And those who are investing a lot will getting more profit.. So expect for drop of the price of bitcoin after the fork and expect for bitcoin gold will dump..

[ivrynx]

Bitcoin reached 5300 usd, but I think it will still go further than 5300 usd and might reach 6000 usd whenever Bitcoin gold is around and also might get around close to 7000 usd, by November, since we are having airdrop this time, but Bitcoin dropping back below 5000 usd, seems to be unclear, if you look at what is happening right now, people are panic buying, probably due to the airdrop, hopefully for a long  term investment this time. If we look back, there was a dip because of what China did, this time I think the price will be lower than 5000 usd, if the same percentage of people sodl just like the time when China decided to shutdown their exchanges and caused panic, as of now, I don't see it coming, bitcoin's price will still grow gradually this, and I think it might move sideways after the airdrop giving us time to breathe and time to buy.

[JCO05]

a very happy moment that btc crossed 5300$
what you think will it stay over 5000$ now?


Although it isn’t entirely clear why the digital currency is resurgent, here are a few reasons market participants attribute to its record-setting advance:

1. Bets on digital-currency dividend
Some investors are wagering that a pair of so-called hard forks in core bitcoin, which will create two separate versions of the No. 1 cryptocurrency, will boost the holding of digital-currency assets.

On Oct. 25, so-called Bitcoin Gold designed to address challenges mining for bitcoin using computers to solve complex problems, will be launched.
On Nov. 18, bitcoin will face a second version of Segregation Witness, or SegWit2x, which would create an alternative version of the bitcoin.

2. China bitcoin exchanges
Charles Hayter, chief executive officer and founder of CryptoCompare, said heightened speculation that China may license digital-currency exchanges and allow them to reopen after a recent ban. Beijing last month moved toward a broad clampdown on bitcoin trading.

3. Amazon.com speculation
There are rumors about Amazon.com Inc. AMZN, -0.01%  accepting bitcoin on its retail platform. According to a blog post on Seeking Alpha, Amazon could announce that it will accept bitcoin as payment on its site when it reports quarterly results Oct. 26, which could lead others, including Alibaba Group Holding Ltd. BABA, +0.04% to follow suit.

4. FOMO
Fear of missing out, or FOMO, also may be propelling bitcoin and other cyber currencies higher. A cycle of news covering the virtual currency’s path to new heights can draw fresh attention to it and encourage further buying, thereby propelling the asset ever higher.

Of course, there are plenty of worries that the asset has all the telltale signs of a speculative bubble.

5. Wall Street attention
As the virtual currency gains more attention from average folks, it is also garnering eyeballs and investments from hotshot Wall Street veterans. A co-founder of alternative asset manager, Fortress Investment Trust, Michael Novogratz is starting a $500 million fund to invest in cryptocurrencies and told CNBC during a recent interview that the cryptographic currency could be worth $10,000 in six to 10 months.

We should always expect for backdrops but still, the best thing to do is to hold if it takes place. The price or market value of Bitcoin is continuously increasing even if we've been though lots of problems recently. The demand still, is increasing that positively affects its value. If there'll be declines of its value, I think it won't be as hard as the previous one. So probably, at the end of this year, it will retain having a market value of 5000$ especially if the next hardfork will be successful.

[marcuslong]

Their oreparing their selves for another segwit of this year they prepairing it for them to keep another bonuses and they will to take the risk for the sake of money the demand of bitcoin is getting higher snd higher. bitcoin already crossed the barrier where othere people saying that by the end of october since then bitcoin is strong enough.

[therealfalcon]

I'm happy and sad at the same time. Happy obviously because it finally breaks through $5K, which most of us have foreseen. Sad because I only hold so little amount at the moment. Wish I was richer so I can get more Bitcoin

It definitely will experience a correction to sub $5K very soon. I don't see it (and I really hope) it doesn't get any higher before having another drop. Please give me another chance to buy cheap Bitcoins!

Hi, The price of bitcoin as of now is already 5400 dollars and it continue to increase and fork is near . And we dont know what actually happen to bitcoin price once the fork happen maybe the price decrease or increase or become stable . But if the price of bitcoin decrease or below 5000 dollars you can buy more bitcoin in cheap price because for sure it will increase again the price after few hours or few days.

This fork is unlikely to give any effect on the price. It is way less risky (in terms of economy split) than the August 1 fork.

so you saying that it will go below 5000$ ?

[Rajamuda]

It seems a small possibility if bitcoin price will drop back below $5000 even to $4000 again, but it could happen if there are a recent news emerging that can affecting it. Well as long as no rumors / latest news trying giving affect to bitcoin price become decreased.. I think bicoin can still continuesly moving towards even higher.

[Twinkledoe]

I'm just happy that btc is over 5k usd. I'll just cash out my btc from the exchange before it goes down again. 

[therealfalcon]

I'm just happy that btc is over 5k usd. I'll just cash out my btc from the exchange before it goes down again. 

it won't go down i guess

[dllhg]

It hit $5840 in the last hour    Will smash through the 6K barrier shortly mark my words.   7-8K by oct 25th could happen.  BTC buying frenzy and everyone is dumping alt coins to buy infor the "free" BTG gold. 

[TooDumbForBitcoin]

I'm just happy that btc is over 5k usd. I'll just cash out my btc from the exchange before it goes down again. 

it won't go down i guess

when btc will go down from this rally it will be very very deep and long decline. So better to stay in uptrend

[rjbtc2017]

I think if it will drop back below $5000 it should happened already within this day but as far as i can see the uptrend rally is not yet finished and i think

the rally will last after the fork, Everyone is going crazy for bitcoin gold and those bleeding altcoins will surely recover after the dumping of bitcoin gold.

even if i am still denial, I think the fork is the reason why bitcoin's price is on uptrend rally.

[Fievel]

In the near future and after the forks, sure it can. When we approach $10000 which is a major psychological barrier, we'll see a lot of profit-taking going on. I imagine the price will drop to around $7000 after the first attempt to breach the barrier. I really don't see it dropping below $5000 after this. 

[darkangel11]

This pump is crazy. I don't know what people are hoping for? That Bitcoin Gold will trade for $1000? I was expecting $5000 to fall this year, but this is fueled purely by greed of people who want to stack up before the fork and then dump BG for additional profit. Anyway, I'm a happy holder watching it unfold and counting profits, but I still can't believe the rush I'm witnessing.

[therealfalcon]

This pump is crazy. I don't know what people are hoping for? That Bitcoin Gold will trade for $1000? I was expecting $5000 to fall this year, but this is fueled purely by greed of people who want to stack up before the fork and then dump BG for additional profit. Anyway, I'm a happy holder watching it unfold and counting profits, but I still can't believe the rush I'm witnessing.

yes i think these fork thing should not be happening

[South Park]

a very happy moment that btc crossed 5300$
what you think will it stay over 5000$ now?


Although it isn’t entirely clear why the digital currency is resurgent, here are a few reasons market participants attribute to its record-setting advance:

1. Bets on digital-currency dividend
Some investors are wagering that a pair of so-called hard forks in core bitcoin, which will create two separate versions of the No. 1 cryptocurrency, will boost the holding of digital-currency assets.

On Oct. 25, so-called Bitcoin Gold designed to address challenges mining for bitcoin using computers to solve complex problems, will be launched.
On Nov. 18, bitcoin will face a second version of Segregation Witness, or SegWit2x, which would create an alternative version of the bitcoin.

2. China bitcoin exchanges
Charles Hayter, chief executive officer and founder of CryptoCompare, said heightened speculation that China may license digital-currency exchanges and allow them to reopen after a recent ban. Beijing last month moved toward a broad clampdown on bitcoin trading.

3. Amazon.com speculation
There are rumors about Amazon.com Inc. AMZN, -0.01%  accepting bitcoin on its retail platform. According to a blog post on Seeking Alpha, Amazon could announce that it will accept bitcoin as payment on its site when it reports quarterly results Oct. 26, which could lead others, including Alibaba Group Holding Ltd. BABA, +0.04% to follow suit.

4. FOMO
Fear of missing out, or FOMO, also may be propelling bitcoin and other cyber currencies higher. A cycle of news covering the virtual currency’s path to new heights can draw fresh attention to it and encourage further buying, thereby propelling the asset ever higher.

Of course, there are plenty of worries that the asset has all the telltale signs of a speculative bubble.

5. Wall Street attention
As the virtual currency gains more attention from average folks, it is also garnering eyeballs and investments from hotshot Wall Street veterans. A co-founder of alternative asset manager, Fortress Investment Trust, Michael Novogratz is starting a $500 million fund to invest in cryptocurrencies and told CNBC during a recent interview that the cryptographic currency could be worth $10,000 in six to 10 months.

I think we are going to be there for quite a long time if you look at all the things that are going to happen there is not a reason for bitcoin to go down, there are two forks with the latest being on November and then we are going to get to December in which bitcoin has a tendency to go up.

[faceoff97]

It just currently reach its 6000$ mark, and might possibly dump in 5000$ mark again once the hard fork happened. But just like the Aug. 25   hardd fork, it unexpectedly pump and double its original value. Thus, bitcoin value might reach 10000$ mark in the next month. This is really where bitcoin is going, it will surely pump and pump. Though it looks like rushing, we can't do nothing because the advancement is also increasing. The best thing to do now is to adopt with the changes that happening, basically buy, hold and store.