[2018-06-20] Will bitcoin recover? Will BTC go back to $10,000?

[ruthbabe]

BITCOIN appears to be back on the rise today, as recent charts show a steady increase across most cryptocurrencies. The market is working to recover after the digital token saw a sharp drop among several hacks in South Korea.

Cryptocurrency traders saw a small rise in price today, with bitcoin leading the charge back into positive results. The cryptocurrency market has been recovering from a significant sell-off period that saw prices drop by more than a third in June. Bitcoin has jumped up 0.67 percent to trade at $6,787.78 as of 7.30pm.

Will BTC recover?

More, https://www.express.co.uk/finance/city/977216/bitcoin-price-news-recover-BTC

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[1Referee]

What rise? And what is there to recover?

The fake pump that happened last year doesn't exist for me and for that reason there is nothing to recover. If we happen to reach $10,000 this year, it can be seen as an all time high based on regular demand, which is way more sustainable and offers more opportunities for further growth.

You know what my target was when we entered 2017? It was $2000 before the end of the year. At that point there was no hype, no future markets, nothing. It was a calm market that was supposed to slowly go up and book consistent gains throughout that year. We got something way different in return and it made everyone go nuts.

If we would happen to reach $6000 today as all time high everyone would be excited and happy, but due to that fake peak most people are disappointed now.

[davis196]

What rise? And what is there to recover?

The fake pump that happened last year doesn't exist for me and for that reason there is nothing to recover. If we happen to reach $10,000 this year, it can be seen as an all time high based on regular demand, which is way more sustainable and offers more opportunities for further growth.

You know what my target was when we entered 2017? It was $2000 before the end of the year. At that point there was no hype, no future markets, nothing. It was a calm market that was supposed to slowly go up and book consistent gains throughout that year. We got something way different in return and it made everyone go nuts.

If we would happen to reach $6000 today as all time high everyone would be excited and happy, but due to that fake peak most people are disappointed now.

That`s how the crypto market works.It creates unsustainable expectations that the BTC price might reach 30K-50K USD after 1-2 years.All the naive newbies start buying btc,the bubble just keeps growing,untill the big whales decide to start selling and cash out the profits.OP,you are kinda wrong about the lack of hype back in January 2017.There will be always some sort of hype and big expectations regarding bitcoin.If there wasn`t any hype,the current btc price might`ve been 500 USD. 

[Theb]

As usual you will read something called "news" in the internet, particularly this one didn't even answer its own question the article even is indecisive on where it will go. This is really called recycled news where they show previous data which are not noteworthy and of course they will link some previous news in this case is the hack in Bithumb that they say will "affect the market" even though they didn't say how will it affect the market. You can go ahead and read it for yourself and you will find that you have wasted your time reading this so-called news.

[stomachgrowls]

Will BTC recover?

No its not!

Have you seen on the current situation of the market as of this time or my writing? We are gradually going back again to have a bleeding market. Significant or price increase doesnt mean we are already going to pump or activate bull run. It always do happen anytime where we always have the thought or being optimistic but later on bitcoins price would break our hopes and expectations which do really sucks. This is why im not really fan on how it will move into next days or any minute because volatility is very unpredictable.

[TraderTimm]

I've been through this several times since 2011.

Yes, it will recover.

No, it won't go to zero.

Every single fucking time the whiners/whinge crew come out of the woodwork when Bitcoin declines. Every. Single. Fucking. Time.

I can say we're fulfilling the pattern, and after all the articles about how Bitcoin is "dead" finally make their rounds to the various parasitic social media networks, that is when the basing and breakout window starts to open.

For posterity, writing this as Bitcoin is trading at 6,729 (Bitstamp).

Go ahead, look it up later and laugh at the idiots who were busy selling the low.

[Basmic]

I think people only see what they want to see. I do not see a stable trend to the growth of bitcoin prices. There are fluctuations that are not systemic. The price of bitcoin should reach $ 10,000. Only after that it will be possible to say that bitcoin is on the way to recovery.

[hatshepsut93]

This question is nearly useless without any dates, since there's only 2 possibilities - either Bitcoin goes lower and lower and then dies or stays very low, or it will eventually break past $10,000 and way higher than that. There's almost no chance that it will stay in current price range for the rest of the time, and since nearly all people who aren't Bitcoin haters agree that eventually it will be worth a lot, $10,000 is only a matter of time. It might take only some months or maybe a few years, at this point I haven't seen any good arguments for any price predictions, all these experts are just looking at the recent rally and think that it will happen again soon, but they don't explain exactly why.

[richardsNY]

Empirical evidence shows that every high gets demolished, guaranteed. At some point we won't have that much leverage left due to Bitcoin's maturity, but we're by far not at that stage yet. I seriously feel sorry some times for those who sell their coins at current stage, but it's their decision at the end of the day. We managed to enter before the banksters and wall street kingpins with their dirty debt capital. Based on their reaction to Bitcoin, they hate it to start riding a car that has been driven by peasants already. We are the peasants that they could extort for years, and we can happily decline their business and take care of things ourselves....

[Slow death]

Will BTC recover?

eventually the price will increase at levels much higher than $20,000, but this is something that can take years, so all we have to do is be patient, and speaking in price forecast, I noticed that in that article they mentioned about the "analysts ".

Wall Street hedge fund firm Fundstrat’s CEO Tom Lee has regularly predicted bitcoin to exceed expectations in 2018, with prices rushing past $25,000.

I hope nobody believes this prediction.

[darkangel11]

There's almost no chance that it will stay in current price range for the rest of the time,

FTFY  

Futures contracts, making bitcoin vulnerable to manipulation.

Don't forget that it was the hype caused by the announcement of futures that took us above 10k USD. Futures pumped it and futures were one of the reasons it got dumped when they actually started to trade. They gave it and then took it away.

Believe this year bitcoin will hit $ 50K

I really want you to be right, but chances of that happening are probably below 10%.

[snakebyte]

New ATH of course

[Aikidoka]

So, first you are like "when will bitcoin go back to $20k" and now you are wondering when it will go back to $10k. For the record, no one can be pretty sure as to when it will go back. Back to what anyway? Perhaps reaching $19k was just a fluke to make people believe in bitcoin and invest in it. That is called price manipulation. Perhaps big investors and businessmen want the bitcoin price to remain this way. So, our best option is to leave it for time to decide.

[qwertyup23]

Will BTC recover?

No its not!

Have you seen on the current situation of the market as of this time or my writing? We are gradually going back again to have a bleeding market. Significant or price increase doesnt mean we are already going to pump or activate bull run. It always do happen anytime where we always have the thought or being optimistic but later on bitcoins price would break our hopes and expectations which do really sucks. This is why im not really fan on how it will move into next days or any minute because volatility is very unpredictable.

This is the best example that not every price increase on the market results to a positive impact in general. Bitcoin prices might show some recovery or a slight price increase but it does not mean that the market as a whole is doing well. Well, its volatility makes these kinds of scenarios common but we must also appreciate every price increase and treat it as a sign of its slow improvement from a bleeding market, like what you mentioned,

Futures contracts, making bitcoin vulnerable to manipulation. The reason, many investors involved in the auction have relatively low liquidity. As a result, every investor has the potential to manipulate prices by selling or buying large amounts of bitcoin during the auction. Perhaps this is one example of why bitcoin prices are now highly impacted because more and more people are able to manipulate bitcoin.

But maybe not only that news i know, the cause of the decline in bitcoin prices today is because bitcoin is cracked in south korea and a lot of losses that they are about US $ 30 million. Currently bitcoin is recovering due to the effects of large-scale hacking in south korea. I'm sure bitcoin will recover and price will soaring asap!

Believe this year bitcoin will hit $ 50K

There are various factors that cause a signifcant impact to bitcoin's price and news from a country that is prejudicial to bitcoin are one of them. In the case of South Korea, it affected the price relatively big since the market has shown negative numbers from the past weeks. Although there have been news that affect its price, like what always happen in the past, bitcoin prices would slowly recover especially if we consider the number of new investors coming everyday. Hopefully whales would not control and manipulate the prices further.

[peacefulpeace]

What rise? And what is there to recover?

The fake pump that happened last year doesn't exist for me and for that reason there is nothing to recover. If we happen to reach $10,000 this year, it can be seen as an all time high based on regular demand, which is way more sustainable and offers more opportunities for further growth.

You know what my target was when we entered 2017? It was $2000 before the end of the year. At that point there was no hype, no future markets, nothing. It was a calm market that was supposed to slowly go up and book consistent gains throughout that year. We got something way different in return and it made everyone go nuts.

If we would happen to reach $6000 today as all time high everyone would be excited and happy, but due to that fake peak most people are disappointed now.

That`s how the crypto market works.It creates unsustainable expectations that the BTC price might reach 30K-50K USD after 1-2 years.All the naive newbies start buying btc,the bubble just keeps growing,untill the big whales decide to start selling and cash out the profits.OP,you are kinda wrong about the lack of hype back in January 2017.There will be always some sort of hype and big expectations regarding bitcoin.If there wasn`t any hype,the current btc price might`ve been 500 USD. 

looking at the trend at which bitcoin is going, one may be wrong to run into early conclusion of it inability to rebound back to it previous status. one tthing we should have at the back of our minds is that crypto prices are unpredictable, one minute it up and another minute its down, looking at bitcoin trends from the beginning of this year, you realize bitcoin was struggling, crypto analyst predicted a further fall to about 2500usd, as at early june bitcoin was at 7700usd and as at 21st june we see a fall to about 6700usd loosing out a whooping 1000usd. as of now we see bitcoin at 6254usd. bitcoin invsetors needs to be patient and expect bitcoin to rebound bact to it previous status.

[Andika23]

Futures contracts, making bitcoin vulnerable to manipulation. The reason, many investors involved in the auction have relatively low liquidity. As a result, every investor has the potential to manipulate prices by selling or buying large amounts of bitcoin during the auction. Perhaps this is one example of why bitcoin prices are now highly impacted because more and more people are able to manipulate bitcoin.

But maybe not only that news i know, the cause of the decline in bitcoin prices today is because bitcoin is cracked in south korea and a lot of losses that they are about US $30 million. Currently bitcoin is recovering due to the effects of large-scale hacking in south korea. I'm sure bitcoin will recover and price will soaring asap!

Believe this year bitcoin will hit $50.000

[Yurkov]

There's almost no chance that it will stay in current price range for the rest of the time,

FTFY  

Futures contracts, making bitcoin vulnerable to manipulation.

Don't forget that it was the hype caused by the announcement of futures that took us above 10k USD. Futures pumped it and futures were one of the reasons it got dumped when they actually started to trade. They gave it and then took it away.

Believe this year bitcoin will hit $ 50K

I really want you to be right, but chances of that happening are probably below 10%.

Price of bitcoin in this year is almost impossible to hit more than 15k$, 2019 will be better in my opinion but till the end 10k$ is the most suitable.

[rodskee]

Take a look the bitcoin price as of today and last few days had an small increase
Sad to say and we need to accept bitcoin aren't rising in this year like the expectations Of all
But bitcoin never dies not  going their value into nothing wait for the right timing for reconstruction of bitcoin to become expensive again

[yatsey87]

I'm sure it will get back there eventually. I wouldn't rule it out for this year but I personally don't expect it to, but you never know. We could have something unforeseen happen. Nothing much really happened late last year to send it skyrocketing and seemed to be driven more by FOMO than anything else, so no reason why we couldn't see that happen again. If the ETF ever gets approved I'm sure that will do wonders for adoption and introduce bitcoin to whole new audience again, but there's no guarantees it will ever happen. I'd be more concerned about bitcoin's value long-term though, so I don't really concern myself with any short term price predictions or whether it will go up to x amount by this year or the one after.