Bitcoin is going somewhere.

[marjil]

For over a month the price of bitcoin has fluctuated between approximately $6k and $11.5k, with an average of around $8.5k, which is where the price also finds itself now. This tells me that there are many players in the market, buyers and sellers, and overall nobody is sure where and when the price is heading towards longer term.

If you look at some of the comments on here, social media and the news in general, there is a lot of support for bitcoin, and cryptocurrencies in general, and the supporters are urging a buy stance on digital currencies. They believe that the price will keep going up overall in the long term. They cite reasons such as improved efficiency of the blockchain, including the lightning network that will bring quicker transacations at a lower cost, which will drive the price up.

Then, on the reverse, there are the commentators who are suggesting that things will end badly, that the price of bitcoin can only head downwards, possibly towards zero, and are urging everyone to exit the crypto ecosystem for once and for all. Reasons they give include that digital currencies have not taken off as currencies, there is limited utility or that the price increases are based on speculation without fundamental intrinsic value.

There is merit to both sides of the argument and I think anyone clued up enough will keep an open mind. To take a staunch position on one side of the fence means your eyes will be closed to opportunites to enter or exit as the case may be.

[DarLim11]

It is quite confusing to see that there are lots of opinions in bitcoin. Opinions that are very well different, it may take a positive or negative response to bitcoin.

We can also see new improvement in bitcoin which can drive more investors. Also we can see regulations being implemented. Although regulations seems to have a bad effect in bitcoin price in the long run it will be beneficial.

Bitcoins price is quite infouenced by a lot of factors. That is why it is quite hard to know where it will go.

[daarul50]

At this time we do not know bitcoin will lead where? Now many investors are interested in the lightning network of blockchain technology because it would be very profitable for investors to have such networks in order to benefit from transactions using their network. With that, I am confident that bitcoin prices will again gain an increase when the lightning network releases later.

[Rath_]

Then, on the reverse, there are the commentators who are suggesting that things will end badly, that the price of bitcoin can only head downwards, possibly towards zero, and are urging everyone to exit the crypto ecosystem for once and for all. Reasons they give include that digital currencies have not taken off as currencies, there is limited utility or that the price increases are based on speculation without fundamental intrinsic value.

You are right. I have seen many predictions of future Bitcoin price based on, for example, how graph looks. I wasn't surprised when they were wrong. I didn't see any news that could hurt Bitcoin that much. CP in the blockchain was obviously fake news which purpose was to scare investors. Banning crypto-related advertisments isn't that bad, some people think that it is overall good because most ads were advertising scams. There are more reasons for Bitcoin to become more valuable. Lightning Network is slowly expanding, I can't wait to see easy to use implementations for average user.

[swogerino]

I think the right title of the thread should be "Bitcoin will go somewhere" because I believe that bitcoin in the long term can only go up. Right now during the 6.5k to 11k are the whales who are controlling the movement by making panic sellers sell their bitcoin which is the worst anyone involved in bitcoin can do unless he has urgent need for the money for urgent matters.

I think bitcoin will go further and the price will be more than it is right now during the end of year and for many other years to come. I have come to this conclusion because bitcoin is the most convenient way to make a payment and as long as it is like this the future can only be bright.

We can expect this to happen when a lot of people that are in for the quick buck overnight scheme will abandon the community, I believe they are the Achilles Heel in the bitcoin ecosystem.

[Lieldoryn]

At this time we do not know bitcoin will lead where? Now many investors are interested in the lightning network of blockchain technology because it would be very profitable for investors to have such networks in order to benefit from transactions using their network. With that, I am confident that bitcoin prices will again gain an increase when the lightning network releases later.

Bitcoin is a very thoughtful network. If you use lightning, you will quickly confirm transactions, but the transaction price will remain the same. If you enter segwit2x will be disgruntled miners. It seems to me that the problem of bitcoin is not the lack of technology. The problems of bitcoin is the lack of communication between all participants.

[dothebeats]

That's how free market works: various forces affecting the market which, somehow, removes the power from a few people to manipulate the market into whatever they want.  Though we all know that manipulation is present no matter what kind of asset class we're talking about, but still the decentralized nature of bitcoin somehow helps in getting a free market possible for its traders. As for those who spread fear, most of them are just trying to buy in at a lower price, or promoting their own investments for the people to buy in and get their money.

I think the right title of the thread should be "Bitcoin will go somewhere" because I believe that bitcoin in the long term can only go up. Right now during the 6.5k to 11k are the whales who are controlling the movement by making panic sellers sell their bitcoin which is the worst anyone involved in bitcoin can do unless he has urgent need for the money for urgent matters.

I think bitcoin will go further and the price will be more than it is right now during the end of year and for many other years to come. I have come to this conclusion because bitcoin is the most convenient way to make a payment and as long as it is like this the future can only be bright.

We can expect this to happen when a lot of people that are in for the quick buck overnight scheme will abandon the community, I believe they are the Achilles Heel in the bitcoin ecosystem.

The reason why these whales are still getting their fill is that there's just a lot of people thinking that bitcoin is your regular money multiplier without any losses. Along the way, they'd realize that it doesn't work like that, and would end up selling whatever they have once the price takes a big hit in the face. There isn't any form of restriction in buying so these newbies can still buy as long as they're registered in an exchange, only for their coins to disappear once the panic wave hits.