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Author Topic: Do you know the Estimated Price of Bitcoin in 2019? You will be surprised.  (Read 327 times)
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May 21, 2018, 12:59:20 PM
 #1

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html

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May 21, 2018, 01:21:48 PM
 #2

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html

As the difficulty for mining bitcoin increases, it will be consuming more power and will be using high end mining rigs. Thus the overall mining activity will be very costly and in this case the miners will have no choice but to hold their bitcoins until such time that they can sell it. This move will be causing a spike on bitcoins price but the moment the expected price reached a certain level and the miners will sell their coins another temporary crash will occur. But after that the prices will go up again.

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May 21, 2018, 01:40:29 PM
 #3

Well, it sounds cool. But it's just prediction. I hope price will go higher day by day.
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May 21, 2018, 01:52:09 PM
 #4

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html

As the difficulty for mining bitcoin increases, it will be consuming more power and will be using high end mining rigs. Thus the overall mining activity will be very costly and in this case the miners will have no choice but to hold their bitcoins until such time that they can sell it. This move will be causing a spike on bitcoins price but the moment the expected price reached a certain level and the miners will sell their coins another temporary crash will occur. But after that the prices will go up again.
Holding th currency will undoubtedly be in the best interest of bitcoin everywhere because with more and more people holding their coins, the more stable and less volatile the currency is going to be which will lead in a surge in the price of bitcoins, what am afraid is that when everyone starts to sell am sure that it will bring the value down again.



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May 21, 2018, 01:59:42 PM
 #5

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html
Are not you getting tired of this what you called experts and big names or agency's?
None of this comes to reality ,maybe neared but never been,and the problem is most of those who reads something like this believe that this will happens,

Why not be contented on what will bitcoin brings to us?instead of expecting in false hopes

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May 21, 2018, 02:08:57 PM
 #6

unfortunately their "prediction" is nearly as meaningless as all the others who are predicting a drop because you can not predict bitcoin like this. you can say it will rise in the long term because that much is inevitable thanks to growing demand and a limited supply that bitcoin has but when and how much of it is never predictable.

i don't understand this part either:
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end,

what does hash power have anything to do with the price? it just shows mining bitcoin is so profitable that the number of bitcoin miners is increasing.

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May 21, 2018, 03:56:11 PM
 #7

In 2014/2015 everyone was saying bitcoin would be 10k by 2016, it took a full year later to reach that price, I think it's somewhat irresponsible to think that bitcoin will shoot back up to all time highs faster this time around. It took a 2-3 bear trend to finally fizzle out around a halving to ramp up to a bull market again....could be the same thing here...we have to wait until 2020 to see bitcoin around 50k.

If you don't like it then sell, I and many others hodl'd through the roughest times when bitcoin made lows around $200.....the newer retail investors i see on youtube and on reddit are so spoiled and entitled it's sickening.

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May 21, 2018, 04:02:13 PM
 #8

Predicting unpredictable is something that shamans do. I would not call this "estimation".
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May 21, 2018, 04:03:57 PM
 #9

Predictions are all nice, but they stay in the predictions range, no one should ever rely on a prediction that someone's else made.
Those predictions usually are just random and are based on true speculation, no analyze is being involved.
Not only that,usually the persons who do the predictions has a position open, so their opinion is not natural and they are most likely to choose based on their position.

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May 21, 2018, 04:04:25 PM
 #10

bitcoin price prediction is still spelled out 50:50, could rise also could fall in price but in my opinion in 2019 bitcoin prices will rise ..
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May 21, 2018, 04:38:10 PM
 #11

Analytical agency Fundstrat Global Advisors LLK published its Forecast.

"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.

Another Fundstrat prediction? Proceed with caution!

I'm glad they've provided some rationale for their prediction: hash power growth. But I don't see the causal link between hash power growth and bitcoin price growth. The hash power alone refers to how many bitcoin miners are participating in the activity and the difficulty of mining (which corresponds to the number of bitcoins left to be mined).

They also mention economics and capex and cost of mining machines. It's as if they're implying that if bitcoin is more expensive to mine that the price of bitcoin will have to increase. But the price activity doesn't work this way. They're implying that bitcoin miners will hold their bitcoin until they receive a price that guarantees a sufficient profit margin. Do bitcoin miners do this today? If not, we cannot assume they'll do it in the future.

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May 21, 2018, 04:41:32 PM
 #12

The price of bitcoin in the coming years can only be spoken by someone who has visited the future and knows him. Everything else, this guessing on the coffee grounds. Bitcoin in general is unpredictable in its value. I do not remember that anyone predicted that by the end of last year it would rise to $ 20,000, as well as the fact that it would then drop to almost $ 6,000. Therefore, no one knows how he will behave in the future. However, an increase in its price by the end of next year to $ 64,000 will again introduce a very large confusion in prices and this will affect all the Crypto-currency. It is necessary to imagine what the next bitcoin correction will be after such growth and how long it will last.

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May 21, 2018, 04:42:14 PM
 #13

I think this can reach the prices this year Bitcoin. It seems to me that we will move forward with 100K next year. We may be near the great rises very soon. But I think that there are a few problems to be solved first. Transfer speed for example!

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May 22, 2018, 05:14:56 AM
 #14

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html

As the difficulty for mining bitcoin increases, it will be consuming more power and will be using high end mining rigs. Thus the overall mining activity will be very costly and in this case the miners will have no choice but to hold their bitcoins until such time that they can sell it. This move will be causing a spike on bitcoins price but the moment the expected price reached a certain level and the miners will sell their coins another temporary crash will occur. But after that the prices will go up again.

no it doesn't work like that.
when you run a business (a bitcoin mining operation in this case) then you will have bills to pay and in order to have money to pay those bills you will have to sell your product (in this case new bitcoins that you get from mining). you can't hold those and pay the bills out of your pocket. and if your business is no longer profitable you stop the costs (meaning shutting down miners).
and miners don't cause a crash because they are constantly selling their coins and majority of them don't sell on exchanges. they sell off the market.

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Searing
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May 22, 2018, 05:17:37 AM
 #15

Analytical agency Fundstrat Global Advisors LLK published its Forecast.
Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That's roughly four times or more from bitcoin's price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
Source for the prediction: https://www.cnbc.com/2018/05/10/bitcoin-could-soar-as-high-as-64000-next-year-fundstrat-predicts.html

I can never find info on if they take into consideration that the mt. gox trustee has to move 1.4 Billion USD of BTC by the end of the year (IMHO, I

can't see this going on into the 3rd year of the mt. gox trustee)

that IMHO, is why the price is dorked sideways and is not recovering but in fits and starts

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May 22, 2018, 05:19:50 AM
 #16

everyone has their respective predictions about bitcoin prices in the future, I think bitcoin will reach $ 30k in 2019.
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May 22, 2018, 05:25:16 AM
 #17

everyone has their respective predictions about bitcoin prices in the future, I think bitcoin will reach $ 30k in 2019.

I hope I am wrong and you are correct...I have a lot of BTC (or enough where a 4k drop would be bad, very bad at 4k)

My current view is to sell the BTC (some or part) and invest in altcoins (LISK comes to mind, a pos coin an others)

This whole mt. gox dumping of 1.4 Billion USD of BTC has me 'twitchy'

may need to 'hunt' elsewhere (Altcoins) until this clears up, hopefully by the end of the year..that is a lot of BTC to eat by 2019!

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May 22, 2018, 06:10:01 AM
 #18

Analytical agency Fundstrat Global Advisors LLK published its Forecast.

"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range," Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.

Another Fundstrat prediction? Proceed with caution!

I'm glad they've provided some rationale for their prediction: hash power growth. But I don't see the causal link between hash power growth and bitcoin price growth. The hash power alone refers to how many bitcoin miners are participating in the activity and the difficulty of mining (which corresponds to the number of bitcoins left to be mined).

But hashing power is also an indicator of the network's growth, that can also be an indicator of a growing demand by miners for more mining chips from the ASIC manufacturing industry.

I believe that miners are still taking the risk means that there is still a demand for Bitcoins. Include that with the next halving on 2020 then we will see all time highs again.

Quote
They also mention economics and capex and cost of mining machines. It's as if they're implying that if bitcoin is more expensive to mine that the price of bitcoin will have to increase. But the price activity doesn't work this way. They're implying that bitcoin miners will hold their bitcoin until they receive a price that guarantees a sufficient profit margin. Do bitcoin miners do this today? If not, we cannot assume they'll do it in the future.

"High price" is the price we have today partly because of the network's growth. How high was Bitcoin 3 years ago and how high was the hash power? There is a correlation.

Fundstrat's "prediction" may be not be correct but their idea in general is.


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May 22, 2018, 06:46:57 AM
 #19

I know we would get to $64,000 in 2019 based on personal conviction.  We are going to make significant progress any moment from now and those that will be able to hold are actually going to make good money in future.  However the temptations for one to sell with little profits is always there.

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May 22, 2018, 07:48:17 AM
 #20

What do you think about the performance of bitcoin over the last 12 months:


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