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Author Topic: Why bitcoin can never go past $7000  (Read 3845 times)
atjiat
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November 01, 2017, 06:14:27 PM
 #121

Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price, so selling at the higher end of this range would bring profit at least and then I think alt coins start making more sense at that point
Actually it really can. You just need to consider the situation where it is currently at. Thee's an incoming hardfork and probably that makes it hard for Bitcoin's value to increase but maybe things will change afyer the segwit 2x especially if it will succeed just like the last fork 2 months before August which made its market value to go skyrocket and to reach an amount of 4000 from 2800. Now that Biycoin has a value of more than 6000, there's a huge probability that it will reach a value of 7000 before this year end.
as to what forecasts have already sounded to date regarding this year, then the amount of Bitcoin's price was quite large. I think that everything depends on what kind of demand will be on Bitcoin and how many people will want to invest their money in the crypto currency.

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November 01, 2017, 06:48:55 PM
 #122

Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price, so selling at the higher end of this range would bring profit at least and then I think alt coins start making more sense at that point
Actually it really can. You just need to consider the situation where it is currently at. Thee's an incoming hardfork and probably that makes it hard for Bitcoin's value to increase but maybe things will change afyer the segwit 2x especially if it will succeed just like the last fork 2 months before August which made its market value to go skyrocket and to reach an amount of 4000 from 2800. Now that Biycoin has a value of more than 6000, there's a huge probability that it will reach a value of 7000 before this year end.
as to what forecasts have already sounded to date regarding this year, then the amount of Bitcoin's price was quite large. I think that everything depends on what kind of demand will be on Bitcoin and how many people will want to invest their money in the crypto currency.

Yeah, supply and demand that is very logical? But how to forecast Bitcoin demand? Much is in few hands.

I think a major correctoin is overduw, but I was often wrong in the past, so maybe also this time. Cheesy BTC price will be higher in 30 years, that is sure, but price in one year, I do not know.

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November 01, 2017, 08:14:40 PM
 #123

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it. Anyone without Bitcoins at that time will look like an idiot just as people said Bitcoin would not reach $5000 and then were left with a empty paper bag.

Bitcoin is one of the best assets to HODL as well. And therein lies one of the factors that's driving up the price. There are lots of HODLERs creating a demand situation which cannot be met. On top of that, a lot of people are losing their private keys or wallet, reducing the quantity even further.

What about the upcoming halving in 2020 which should get priced in at the end of 2019 or beginning of 2020.
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November 01, 2017, 08:20:27 PM
 #124

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it.

Damn you, you just made me pee my pants with excitement.

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November 01, 2017, 08:21:11 PM
 #125

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it. Anyone without Bitcoins at that time will look like an idiot just as people said Bitcoin would not reach $5000 and then were left with a empty paper bag.

Bitcoin is one of the best assets to HODL as well. And therein lies one of the factors that's driving up the price. There are lots of HODLERs creating a demand situation which cannot be met. On top of that, a lot of people are losing their private keys or wallet, reducing the quantity even further.

What about the upcoming halving in 2020 which should get priced in at the end of 2019 or beginning of 2020.

Yeah, but such huge sums will not be mobilized in such a short period of time. It takes 10 more years to 70k BTC. We have seen a rally from 250 USD to now. Dont expect this trend will hold forever.

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November 01, 2017, 08:24:02 PM
 #126

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it. Anyone without Bitcoins at that time will look like an idiot just as people said Bitcoin would not reach $5000 and then were left with a empty paper bag.

Bitcoin is one of the best assets to HODL as well. And therein lies one of the factors that's driving up the price. There are lots of HODLERs creating a demand situation which cannot be met. On top of that, a lot of people are losing their private keys or wallet, reducing the quantity even further.

What about the upcoming halving in 2020 which should get priced in at the end of 2019 or beginning of 2020.

Yeah, but such huge sums will not be mobilized in such a short period of time. It takes 10 more years to 70k BTC. We have seen a rally from 250 USD to now. Dont expect this trend will hold forever.
Liquidity! Just because the price may seem like it's 7k or 70k, doesn't mean that there is enough FIAT or BTC to hold that price.

Imagine an order of just 1btc for 7000, and the next bid is at 6900, the market will say, hey the price is 7k, but in reality a single sell of 1BTC will result in the price being 6900.

This means just one guy can dump say like 100 btc or 1000, and instantly drop the price 1000-2000 dollars for instance.

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November 01, 2017, 08:49:04 PM
 #127

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it. Anyone without Bitcoins at that time will look like an idiot just as people said Bitcoin would not reach $5000 and then were left with a empty paper bag.

Bitcoin is one of the best assets to HODL as well. And therein lies one of the factors that's driving up the price. There are lots of HODLERs creating a demand situation which cannot be met. On top of that, a lot of people are losing their private keys or wallet, reducing the quantity even further.

What about the upcoming halving in 2020 which should get priced in at the end of 2019 or beginning of 2020.

Yeah, but such huge sums will not be mobilized in such a short period of time. It takes 10 more years to 70k BTC. We have seen a rally from 250 USD to now. Dont expect this trend will hold forever.
I think that all the speculation around the price of Bitcoin does not make sense, because everyone realistically understands that the price of the coin itself is much higher than it is today. Therefore, even 50,000 or 100,000 may not be the limit. Of course it will show Only time, but nevertheless I believe in it.

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November 01, 2017, 08:50:12 PM
 #128

Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price, so selling at the higher end of this range would bring profit at least and then I think alt coins start making more sense at that point
with all due respect sir, I was thinking of seeing a professional analysis on the reason why bitcoin may not go beyond $7000 but to find out that you are saying bitcoin is less volatile. I think the current price of $6539 has proved your speculation off and the price increase over  $1000 in just a day, about a week ago. The volatile is still there and many people are becoming aware of bitcoin daily.  I think, $7000 may be hit and above before 15th  of this months and we may hit $10,000 by the first quarter of next month.

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November 01, 2017, 09:50:45 PM
 #129

Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price, so selling at the higher end of this range would bring profit at least and then I think alt coins start making more sense at that point
with all due respect sir, I was thinking of seeing a professional analysis on the reason why bitcoin may not go beyond $7000 but to find out that you are saying bitcoin is less volatile. I think the current price of $6539 has proved your speculation off and the price increase over  $1000 in just a day, about a week ago. The volatile is still there and many people are becoming aware of bitcoin daily.  I think, $7000 may be hit and above before 15th  of this months and we may hit $10,000 by the first quarter of next month.

Bitcoin price is going to $66xx today, So still everyone doubted that it can reach $7000? I think the OP didn't understand that bitcoin is just like in a stocks wherein the price is stable. This is a speculative market, and it that scenario, there's no fair price because investors will continue to pour in their cash as long as there as good news that is coming its way.

Like Segwit2x, people are speculating that the price will pick up at we get closer to the actual implementation. So it may reach $7000 and even higher. And the good part is that we still have 2 months till the end of 2017. So $7000 is likely to be hit this year alone.

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November 01, 2017, 10:13:59 PM
 #130

I think the price of bitcoin will reach 7k dollars this month or maybe this week because the price as of now it's already 6560 dollars and we need only 350 dollars to reach 7k dollars. But we don't know if its increase the price or decrease.

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November 01, 2017, 10:23:11 PM
 #131

I think the price of bitcoin will reach 7k dollars this month or maybe this week because the price as of now it's already 6560 dollars and we need only 350 dollars to reach 7k dollars. But we don't know if its increase the price or decrease.
It will happen, we just have to wait for it coming. Few more months or even after this month we can finally see bitcoin's price good at $7,000.

Forget about $7000, I think Bitcoin will reach $70,000 before we all know it.
Hell yeah, bring it on bitcoin but this is far from what I'm thinking. I'm even good even bitcoin will be reaching $10,000 soon.



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November 01, 2017, 10:57:16 PM
 #132

The price has just jumped again - it's $6675!

It might actually hit $7000 by teh end of the week.

I've no idea who is buying - excitable people in Korea? Hedge funds? Banking types who want coins before all those futures contracts start getting traded on the Chicago Mercantile Exchange?

Who knows. It's WILD.
 
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November 01, 2017, 11:39:12 PM
 #133

The price has just jumped again - it's $6675!

It might actually hit $7000 by teh end of the week.

I've no idea who is buying - excitable people in Korea? Hedge funds? Banking types who want coins before all those futures contracts start getting traded on the Chicago Mercantile Exchange?

Who knows. It's WILD.
 


I think everyone wants more coins. Why wouldn't they! We're just at the start of this rocket ship.

I just bought a lot more myself the past ten days or so, with my last purchase earlier today. Will be making one more purchase in the next few days. Then I'll sit back and see what happens with the hard fork.
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November 02, 2017, 12:13:55 AM
 #134

So 3-4 days away from the thread beginning and it's now less than $200 away from achieving the figure the OP tells us is not possible. Classic copper bottomed Bitcointalk noob know it all fail timing. Just another of thousands who came before.

Even if it doesn't this time around, it will at some point in the next weeks and months.

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November 02, 2017, 12:55:31 AM
 #135

So 3-4 days away from the thread beginning and it's now less than $200 away from achieving the figure the OP tells us is not possible. Classic copper bottomed Bitcointalk noob know it all fail timing. Just another of thousands who came before.

Even if it doesn't this time around, it will at some point in the next weeks and months.


haha yes i was just gonna post this same thing. It's been 4 days since the OP made this ridiculous thread and bitcoin is now now $101 from him being wrong haha
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November 02, 2017, 01:20:29 AM
 #136

There are sooooo many people waiting the price to drop since it was @4000 ish... I don´t know where this will go but it´s insane at the moment.

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November 02, 2017, 01:31:46 AM
 #137

It's 6923 $ with in 4 days of your prediction OP  Angry

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November 02, 2017, 02:11:11 AM
 #138

Hey op it seems your prediction is wrong. We've almost at $7000 and it's not yet holiday season. How come if holiday season started, btc will say to you what is $7k, it's just nothing on me. I can go even higher(my thoughts).
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November 02, 2017, 02:19:19 AM
 #139

Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price.

I was expecting to read more reasons backed with analytical evidence even if its historical to support this your argument but no I didn't get but only about the decreasing volatility which to me is just normal. If you really understand the way bitcoin price works you will realise that at any point in time, there is always a calm or stagnant period which is what is being witnessed. This stagnant period can sometimes take a short number of days or sometimes weeks unless something big happens to either push the price higher or lower, we expect to be within range.

The price will go about the range you talking about if the BTG issue that didn't get the amount of coverage could get price to this range, I expect the upcoming one in November to do more than this and it's possible.

I agree to the reply of sir. Having your title thread like that is a big judgement statement making me and others think that you may have a strong argument that Bitcoin price can not go over $7000. But when I opened it, you lack a lot of data and analysis to support your statement. Yes, you may be right and we may be wrong. No one can predict it 100%. But when making predictions like this we need to have both fundamental and technical analysis. There are a lot of factors affecting it's price and we need to see the bigger picture to have good price prediction.

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November 02, 2017, 04:03:46 AM
 #140

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