Bitcoin Stabilizing At $20K

[MattHoo]

The price of bitcoin has pushed back above $17,000, hitting a new all-time high, so i think $20,000 will just be a stepping stone on the path to $30,000 then $50,000 in the following days.

[saidlik]

I do not think so, it is too much for bitcoin in next days but i do believe, that its price can grow to 25K max until Christmass.

2018...who knows but it will be the year of cryptos, 100K maybe?

[ipsum100]

All investments want profitability, bitcoin will continue to rise, there is too much money to drop it.

[aizen10]

Hitting to $20,000 is not possible to stabilize, because way back last two months,  we didnt expect the price hike of bitcoin from $3k upto $18k now. And more speculation that this bitcoin will cross $20,000 and more by 2018 and thats a good news for all bitcoin investors and hodlers.

[Betwrong]

Even if Bitcoin is going to stabilize in the future we are too far from that point right now. A daily 5% drop or rise will be always an option in the nearest years to come. For some people, like traders, it's a good thing and for others, sellers of goods who accept BTC, for example, it's not so good. Looking back at the Bitcoin's history we can remember that there were predictions about stabilizing at $50, at $200, at $1,200 and so on. I think $20k is just another number in this line.

[VuLDK]

As Bitcoin is now considered as a legitimate asset or a store of value on the same level (or should I say higher?) as that of the physical gold, stocks, established international currencies like US Dollar and the likes as well as traditional derivatives, maybe it is time to celebrate for some pizza (see above) and some bottle of beer (see below).

With the introduction of the Bitcoin Futures, am wondering if there is a possibility that eventually Bitcoin would be stabilized at the $20,000 level for years all because the futures are putting the restraints and ceiling to its growth?  

Actually, I do not have any problem if that can be case...but do you think many would still be investing with Bitcoin when the rate can be stable? We all know that majority of us in Bitcoin are here all because we are speculators first and foremost.

What is your opinion on this scenario? Bur before that...let's have some beer first!

I think your analysis is very right, I think in the future, bitcoin will dominate the money market. Always believe that bitcoin will replace the current currency, keep bitcoin we will become billionaire.

[d5000]

I had almost the same thought like you, OP, when I was observing the evolution of the futures prices.

There are some indications that a stabilizing effect of the futures could be true:

1) The prices of the futures for January, February and March are almost at the same level.
2) I mean to have observed that future prices and real Bitcoin prices already have effect on each other.  The future price. as it keeps constantly above the Bitcoin price, puts a ceiling (it doesn't go above the future price), but also a floor to the BTC price (it never seems to fall more than ~$1500 below it.). When the future drops a bit, the BTC price follows, but never reaching the floor.
3) BTC volatility has drastically reduced when compared to the days before the future trading started.

However, we are in a very early stage of futures trading. That could be a temporary effect, and maybe a crash or hype occurs again.

I would be very happy with stable prices, as I'm not primarily a hodler but an user. But yes, I think it's correct to worry about the investors that get in to get rich quick and could get out when they don't get the return they expected (or if they panic).

In my opinion, Bitcoin will sucessfully stabilize its price if the scalability problem is solved and it can be used again as a currency - "currency use" gives it a connection to real values and assets. The current Lightning network advances will possibly enabling Bitcoin's use as a currency in the medium term again.

However, for me, LN and on-chain scaling are not enough to enable Bitcoin to be a truly global solution. A "sharding" solution like pegged sidechains, child-chains or extension blocks would be the piece of the puzzle that is still missing.

[haroldtee]

Why you chose $20.000? Because it is a psychological level? or a beautiful value? Last days showed that Bitcoin price is no predictable.

Beautiful value indeed. $1000000 is a very beautiful value, at least for me. It is not even possible that we end up seeing stability at $20000 with the way bitcoin is flying. I call it bull fly nowadays and not just bull run as it is picking up the pace without waiting for anyone and you can join the train if you like. Nevertheless, the bad thing is that most people really do not tend to understand why they are investing except for the fact that they know they will be making money. The usage of bitcoin itself is the true value and I really hope the higher percentage of people who do not know that yet, get to know.

[Yaunfitda]

I think that the OP has raised a valid point. However, it cut both ways. If investors see that bitcoin price is somewhat leveling, there are chances that they are going and shy away from the ecosystem. On the other hand, a new set of investors will come in because that's what they are looking for, bitcoin price somewhat stabilizing and volatility reduced.

But its hard to tell at this point. There's another bitcoin future contracts looming on the 18, we need to see how this CME offering could impact the current prices in a positive way.

Dunno about 20k.

Like 3 weeks ago nobody would believe, that BTC could cross 10k before Christmas. and now we are at 18k... . You really can't tell what's going to happen in net 48 hours on this market.

You really don't get it. Like 3 weeks ago, financial institutions offering bitcoin future contracts is all rumors. That's why the price keeps getting pushed on anticipation of the said offering. And now that CME offering started, we see just a few minor price swings and the price is slowly stabilizing.

~snip~
However, for me, LN and on-chain scaling are not enough to enable Bitcoin to be a truly global solution. A "sharding" solution like pegged sidechains, child-chains or extension blocks would be the piece of the puzzle that is still missing.

But as far as scalability is concern, LN should be good short term. What we need is a long term solution. For me LN it just like patch a band aid of sort. We need solution if we want bitcoin to be a true "P2P" as envisioned by Satoshi.

[vintages]

$20,000 is a good price and I think it will be perfect if it stabilize in this price.
Do not bother about worring if a lot of people will not buy when the price is stable because ;back then when the price was stable, a lot of people still buys.
You will even be surprised to see that the amount of people that will buy when it is firm will be greater than the number of people that are purchasing now. Most people are not buying bitcoin now because they are patiently waiting for the price to stabilize.
This cryptocurrency is an asset and should be treated as such.

[btcbonanza]

As Bitcoin is now considered as a legitimate asset or a store of value on the same level (or should I say higher?) as that of the physical gold, stocks, established international currencies like US Dollar and the likes as well as traditional derivatives, maybe it is time to celebrate for some pizza (see above) and some bottle of beer (see below).

With the introduction of the Bitcoin Futures, am wondering if there is a possibility that eventually Bitcoin would be stabilized at the $20,000 level for years all because the futures are putting the restraints and ceiling to its growth? 

Actually, I do not have any problem if that can be case...but do you think many would still be investing with Bitcoin when the rate can be stable? We all know that majority of us in Bitcoin are here all because we are speculators first and foremost.

What is your opinion on this scenario? Bur before that...let's have some beer first!

Thanks for Pizza and Beers but when non-investors will see us enjoying bitcoin delights, won't they be wishing to join us in treat!
Therefore, I don't think after listing on futures and along with series of worthy forks (like Super Bitcoin, etc), bitcoin is going to have any stability. Its demand will rise like before and prices continue to rise which can easily cross $50K during next year.

[yenimailb]

I think that if Bitcoin is too stable and there is no fluctuation, no one will invest in it. Because it is unstable, people can make a profit from the differences. Otherwise, I think Bitcoin will soon reach 20k and may increase further but not this year. Probably next year will be a development year of Bitcoin as the platform gets more stable and more and more people know it, it will really grow.

I think Bitcoin price will be $20.000 end of 2017.

[Eternu]

In near future we will see bitcoin price of 20k $, that is inevitable or at least that is what i think. Because every day number of bitcoin supporters and investors is rising. But I think that it is not possible for price to be limited on 20000$. One of main reasons for that, is that bitcoin price will always rise because of bitcoins limited number and difficulty of mining. The moment when we could expect steady price, is when people start using bitcoin as currency and not as investment.

[passwordnow]

I think Bitcoin price will be $20.000 end of 2017.

Possible if the price gets $18,500 before Christmas day we will see a bull that will lead bitcoin to $20,000. But for now, I'm going to take chance of the other pump that's happening in the altcoin market. While my bitcoin seats on my cold storage, taking profits with ETH and LTC is good for today while waiting for bitcoin to pump. Whomever that has these 3 coins, you'll the man and a winner.

[malikusama]

Stabilizing of bitcoin at certain level doesn't seems possible right now because investors don't want their market to shut too soon. I know there would come certain hurdles and restraints in the way and it will may limit the growth, but even if it will become true then $20K is too low for stabilizing because still the growth is rapid and it can reach $20K within few days. So let suppose the stabilizing price more than $50-60K, yes this could be acceptable.

[aso118]

I think Bitcoin price will be $20.000 end of 2017.

Possible if the price gets $18,500 before Christmas day we will see a bull that will lead bitcoin to $20,000. But for now, I'm going to take chance of the other pump that's happening in the altcoin market. While my bitcoin seats on my cold storage, taking profits with ETH and LTC is good for today while waiting for bitcoin to pump. Whomever that has these 3 coins, you'll the man and a winner.

$20,000 is not far at all. We are almost at its footsteps. The price has gone close to $18000 and is now trading between the $17k-$18k range. The CME futures are yet to start trading. I think the demand there will be higher. We could cross $20k in no time once that happens.

[Biodom]

If Bitcoin is a new asset class (strictly speaking, it is crypto as a whole, but btc is about 60% currently), then it stands a reason that it should at least approach the smallest asset class value.

Apart from crypto, the smallest asset class is precious metals with about 8 tril value.
0.6X8=4.8 tril.

4.8 tril for 16.7mil btc= $287 thou/btc price target.
Of course, as bitcoin numbers increase, the price number projection would drop (to, maybe, $250 thou).
Timeline: unknown, could take 3-5-10 years, but unlikely longer than this.

[kotwica666]

I think Bitcoin price will be $20.000 end of 2017.

Possible if the price gets $18,500 before Christmas day we will see a bull that will lead bitcoin to $20,000. But for now, I'm going to take chance of the other pump that's happening in the altcoin market. While my bitcoin seats on my cold storage, taking profits with ETH and LTC is good for today while waiting for bitcoin to pump. Whomever that has these 3 coins, you'll the man and a winner.

$20,000 is not far at all. We are almost at its footsteps. The price has gone close to $18000 and is now trading between the $17k-$18k range. The CME futures are yet to start trading. I think the demand there will be higher. We could cross $20k in no time once that happens.

Same opinion here. I will not be surprised if we hit $20k even before 1st of January. If it will happen, after New Year Bitcoin will just walk over $20k just like it happen with $10k.. Next "bus stop" somewhere around $25k.

[shoreno]

i also see that bitcoins value is now stabilizing at $17k level. i believe that correction is now happened on this level because bitcoin has seems stable in past 2 to 3 days at this point but i have a good feeling that bitcoin will still surge upwards because were now getting close to the upcoming bitcoin forks this december. this can again result for bitcoin to reach his new all time high which is expected to be $20k just before the year ends.

[Hazir]

With the introduction of the Bitcoin Futures, am wondering if there is a possibility that eventually Bitcoin would be stabilized at the $20,000 level for years all because the futures are putting the restraints and ceiling to its growth?  

Actually, I do not have any problem if that can be case...but do you think many would still be investing with Bitcoin when the rate can be stable? We all know that majority of us in Bitcoin are here all because we are speculators first and foremost.

Why do you think that bitcoin price will stabilize? Do you think that Bitcoin Futures has the power to keep the price and influence price of BTC worldwide?
What about a situation where we will have next halving and creation of bitcoin will be lowered - and at the same time demand for BTC might be the same or even higher?
It is always hard to speculate about future when there all you can do is extrapolate - but I don't think that bitcoin price can be so easily controlled, there are too many factors here to consider.