[2018-06-14] Positive Bitcoin Price Momentum in Late 2018 Is Still Very Much Pos

[ivanpoldark]

The Bitcoin price is not in a good place right now. That situation will not change anytime soon. When looking at the long-term picture, however, a lot of things may change in the coming months. It has become easy to overlook the positive developments happening in the Bitcoin world today.

The Bitcoin Price is Part of the Story

As is usually the case when people discuss Bitcoin, the price takes center stage. That is only normal, as it is the go-to metric for the world’s leading cryptocurrency. Even so, the price only tells a small part of how the Bitcoin ecosystem evolves at any given time. Additionally, the Bitcoin price has become very easy to manipulate, effectively triggering an official manipulation investigation.

With the Bitcoin price losing so much value in 2018, the situation looks dire. Compared to January 2018, the value has dropped by nearly 50%. For short-term investors and speculators, it is the worst possible outcome. Everyone else, however, is seemingly less bothered by the short-term changes. The Binance CEO even stated how this is a temporary trend which seems to occur every year.

Moreover, various experts shared interesting Bitcoin price predictions. Some even go as far as claiming how one BTC will hit $15,000 again later this year. While not impossible, it seems to be somewhat unlikely at this point. With all of the negative momentum, chances of a Bitcoin price increase become less likely every single day. Nothing is impossible in the cryptocurrency world, as stranger things have happened over the years.

Looking Ahead with Positive News

Other than the Bitcoin price, various developments are taking place as well. Bitcoin is set to receive a fair few technical updates in the months to come. Transaction fees are already on the decline, and future scaling solutions will help improve things accordingly. When the Lightning Network will effectively gain global traction, has yet to be determined at this stage.

Furthermore, merchant adoption of Bitcoin as a payment method is also seemingly on the rise. That in itself has been a pressing problem for the world’s leading cryptocurrency. If things can pick up the pace in this regard, there will be a growing focus on paying with cryptocurrencies, rather than investing in them. Such a mindshift will be more than welcome as far as Bitcoin is concerned.

There is also the growing regulatory focus on Bitcoin. Whereas once assumed to be a necessary evil, more people now see the merit of actively regulating Bitcoin. It offers more legitimacy to the cryptocurrency space and may help attract institutional investors. All of these changes combined will eventually impact the Bitcoin price in a positive manner. Last but not least, major trading platforms are venturing  into cryptocurrency. That list includes Nasdaq, ICE, ad, and several other key players.

https://www.newsbtc.com/2018/06/13/positive-bitcoin-price-momentum-in-late-2018-is-still-very-much-possible/

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[hugeblack]

I do not know why the price side is essential, we all know that the price of 18,000 was the product of speculation and not a real price.
What is important now is the limited network, which makes it inappropriate to daily use, and with the stability of prices will begin to think of bitcoin as a unified currency for the whole world "daily use" rather than an investment.

[iram1011]

Bitcoin is surely not dead. Price is still way above than the price before the December Hype.

Regarding the real expansion of cryptocurrency market which will bring a healthy price rise, according to the Thomson Reuters report, "Twenty percent of financial firms want to start buying and selling digital tokens in 2018".

Some 56 new financial firms are ready to start with offering cryptocurrencies by October this year. This is going to bring in natural and a healthy growth with the increasing demand. Many experts have predicted that price might rise above $25k after the traditional finance money jumps in cryptocurrencies which will increase the volume in the market.

I expect second half of the 2018 to be bullish and better than 2017 in terms of All Time Highs.

[1Referee]

What is important now is the limited network, which makes it inappropriate to daily use, and with the stability of prices will begin to think of bitcoin as a unified currency for the whole world "daily use" rather than an investment.

I am actually of believe that the network in current state isn't all that bad. If you ignore peak usage due to heavy price action, you will be able to enjoy pretty fast confirmations with just $0.01-$0.03 in fees. Merchants accepting BitPay mostly allow you to enjoy instant payments as long as your transaction value is below $50 or something and it has a normal fee, which is pretty good.

I don't necessarily even see the point of increasing the blocksize. Bitcoin won't be able to fill up 2MB blocks consistently, and it might actually work against Bitcoin instead of doing good. Only a near beta exit of LN would justify an upgrade. In my opinion the blockchain shouldn't be cluttered with extremely low priority dust and few buck transactions, which is why LN is a savior.

BCash doesn't even manage to fill up its blocks with 100KB of data consistently, but they found it necessary to upgrade from 8MB to 32MB which is complete nonsense. There are even rumors going that they will push it far beyond 32MB eventually. 

[hatshepsut93]

I do not know why the price side is essential, we all know that the price of 18,000 was the product of speculation and not a real price.
What is important now is the limited network, which makes it inappropriate to daily use, and with the stability of prices will begin to think of bitcoin as a unified currency for the whole world "daily use" rather than an investment.

Bitcoin's network capacity is limited because it's truly decentralized and is going to always stay that way, so it is looking for a scaling solution that doesn't trade security for capacity. All those flashy "blockchain 3.0" coins/tokens that claim to process thousands of transactions are totally centralized, they have a small number of nodes and users have to totally trust that they won't cheat, but time has proven that if it's profitable to cheat, people will do it and the recent 51% on multiple altcoins is the recent example of it. Lightning Network is the best scaling solution possible at the moment, and it is also the closes to full release, unlikely all those coins with only whitepapers or buggy, barely working networks.

[Hamphser]

Bitcoin is surely not dead. Price is still way above than the price before the December Hype.

Regarding the real expansion of cryptocurrency market which will bring a healthy price rise, according to the Thomson Reuters report, "Twenty percent of financial firms want to start buying and selling digital tokens in 2018".

Some 56 new financial firms are ready to start with offering cryptocurrencies by October this year. This is going to bring in natural and a healthy growth with the increasing demand. Many experts have predicted that price might rise above $25k after the traditional finance money jumps in cryptocurrencies which will increase the volume in the market.

I expect second half of the 2018 to be bullish and better than 2017 in terms of All Time Highs.

But most people now on crypto already complaining and do say such things that crypto would be dead this time without even basing on previous years when it comes to All time heights. They dont base or doesnt look behind thats why they do easily got discourage when bitcoins price tends to go down. Im still positive with bitcoin and having this correction arent just new on the ecosystem but this do signifies a healthy part of bitcoins development. We cant just see bitcoins price to shoot up and reach out moon on a shorter time frame thats not how it works.

[richardsNY]

There are even rumors going that they will push it far beyond 32MB eventually. 

1TB blocks lol. Imagine how long these blocks take to validate, and imagine when 3 of these blocks are found with only minutes apart from each other. Roger keeps referring to how cheap hard drives are getting, but he ignores that no average person will run a full node at that point. What incentive is there to run a 10TB full node for someone who can just use a light weight client and have all the convenience that is needed? Most people are simple minded and won't put more effort into something than they are comfortable with. I guess Roger will have to rely on data centers to keep his project run smoothly, and gone is your decentralization....