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Author Topic: Why Bitcoin will not hit 20000 soon?  (Read 1009 times)
arthotdog
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August 06, 2018, 05:46:53 AM
 #161

Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.

Right mate,instead of investing to bitcoin many member chooses ico project to put on their money,but the sad thing is many of them become scamming victim and at the end frustrated and hated this community because of this ..I believe thay if we really want to help the community better buy and invest in bitcoin more than this ico

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August 06, 2018, 07:23:17 AM
 #162

ico maybe last year gave a positive effect to the increase of bitcoin, but for this year I think investors invest in ico unlike last year because they now have to really choose a serious project. or investors invest in ico after ico entered the market because at the time of entering the market the price was very far below ico's price due to the large and least sale of holders

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August 06, 2018, 08:30:54 AM
 #163

Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.
I guess bitcoin price is not only because of ICO's, yes, there are still some impact if there is a lot of ICO's but it is also because of big investors of bitcoin before. I think last year has a lot of investors of bitcoin and that is why bitcoin price touches $20k because a lot of scammers also uses bitcoin to their business, they uses bitcoin to encourage their investors to invest to them even if they are not legit but they are using bitcoin so they are putting a lot of investment with bitcoin so that the price of bitcoin will go up and a lot of BIG investors will put huge amounts of their capital for it because they think that they will get profited. By the time past by, scammers sell their investment and just run away that is also why bitcoin drops hard last year. This is my opinion.

i got your opinion, not only ico is the reason for the bitcoin price increase, as well as large investors. Yes, you also have the point that the scam project is also one of the reasons for the bitcoin price increase. and, this is also one of the reasons why its price has fallen due to wrong speculations which now affects the value of bitcoin.
Yes, because a lot of scammers now are using bitcoin for their monkey business so they can get a lot of big investors, they uses bitcoin to encourage a lot of investors and invest with them, that is why some other investors now are afraid to invest with bitcoin because they think that they will just lose another million of their capital, which is wrong because they put their money in a wrong investment.
Exactly! Scams are very rampant nowadays and these lead to losing the trust of the public towards Bitcoin. Not only for this reason, it could also be due to fake news, media influence, supply, demand, its risks, or volatility. But we should be aware that market keeps on moving that makes price to keep on fluctuating. I still believe that price upsurge takes time and market will be back on track at the course of time. As a Bitcoin user, we have a strong responsibility to support and promote Bitcoin for its growth and success.
Precisely! The money that could be spend in Bitcoin, is being wasted into scam projects.

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August 06, 2018, 08:40:28 AM
 #164

big investors are needed. There is no continuity in investments. short-lived sell-market is not moving. also there are too many cheaters. many ICOs have failed. People are afraid to invest. governments do not show a positive attitude towards cryptography.
Even if it goes to 10k level now, the market is accelerating at a great rate. 20k levels yes very nice but not realistic. There are not enough investors to keep the 20k level going. if the supply-demand balance has to be in a certain continuity.


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August 06, 2018, 09:27:42 AM
 #165

Precisely! The money that could be spend in Bitcoin, is being wasted into scam projects.
Well, that is the decentralized world we are in presently. I believe no smart money will be investing in scam projects anyway, so let's assume all those spent on scam projects to be fool's money (no offense!) and asides that, I believe this market will grow more than it is today when possible regulation starts kicking in, which still does not change it from being decentralized, but at least will help put some law in place as it is really needed whether we like it or not. A lot of investors (or will I say some present whales) may not like that, considering the entrance of institutional money in the market which actually do have its advantages and disadvantages with most of it being better growth and market maturity compared to the huge fluctuations that we have now. And with that, there is still enough money to fly around eventually.

With respect to the OP, apparently, we are still in a bear trend and we really would not need a soothsayer to know the bottom has not been hit yet and we would still get to see some long period of consolidation as well which when we put all these together is not just some few months thingy. However, it is still the long run that matters anyway.

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August 06, 2018, 10:07:02 AM
 #166

That Tether issue did contributed to the growth of bitcoin during December and to those that didn't knew about it. (https://medium.com/coinmonks/statistical-analysis-of-bitcoin-price-manipulation-by-tether-issuance-in-late-2017-b3342b8915a0)

We may too be excited to see that same scenario will come out for this year but be ready if it won't happen exactly.


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August 06, 2018, 10:33:43 AM
 #167

The main obstacle why bitcoin didn't touch $ 20,000 soon was because of the many negative news, when prices went up there were a lot of negative news that made the issue that bitcoin prices would drop so it suggested selling immediately so bitcoin was difficult to rise like last year.
It's because there's a lots of panic sellers and they wanted to gain easy money, when they seen the value rise a little they sell it out without waiting and this small movements really affects the current bull run as another person will sell too, a chain reactions and makes the bull run to get its corrections again and just repeat itself from time to time.

   
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August 06, 2018, 11:59:35 AM
 #168

The main obstacle why bitcoin didn't touch $ 20,000 soon was because of the many negative news, when prices went up there were a lot of negative news that made the issue that bitcoin prices would drop so it suggested selling immediately so bitcoin was difficult to rise like last year.
It's because there's a lots of panic sellers and they wanted to gain easy money, when they seen the value rise a little they sell it out without waiting and this small movements really affects the current bull run as another person will sell too, a chain reactions and makes the bull run to get its corrections again and just repeat itself from time to time.

Well it's given that weak hands and panic sellers are pretty much one of the main reasons why we've gone down so drastically but i think it's bound to happen anyways. Whales took huge profits, the bandwagoners saw their capital dwindle drastically and before we know it, we're back to this price range lol.

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August 09, 2018, 10:15:59 AM
 #169

Bitcoin will definitely hit 20000$ mark but it will need some more time I guess an the market is very volatile so nothing can be said for sure. But according to the rise and fall it may hit the mark in end of 2019 or first of 2020.
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August 09, 2018, 10:31:10 AM
 #170

I don't think ICOs is the main reason behind the price drop. When the price drop started many people had panic. They started to sell coins which is one of major reason behind the price drop. Bitcoin may hit 20k but i think if will take long time.
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August 09, 2018, 10:48:18 AM
 #171

I think the news of ETF was the influence behind the price drop. Then many people sold their coins which created more supply than demand and the price was decreasing. This is the time many investors will invest and i think the price will rise.
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August 09, 2018, 01:06:00 PM
 #172

Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.

New ICOs will help the whole cryptocurrency bring more money and as the top coin of bitcoin it can help to increase their popularity because in every advertisement of ICOs they use cryptocurrency and that's bitcoin has attached on it being the king of crypto. Don't blame ICOs for the downfall of bitcoin and their are many reasons why this bearish market happens. 

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August 09, 2018, 01:18:54 PM
 #173

Hi. I think bitcoin will reach over 20000$ faster than 6 months. And i also think ETF will be approved this year. Just don't dump your bitcoins now.

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August 09, 2018, 03:37:27 PM
 #174

Hi. I think bitcoin will reach over 20000$ faster than 6 months. And i also think ETF will be approved this year. Just don't dump your bitcoins now.
ETF really helping bitcoin not to grow today and it really makes people always moaning for their loss.  Ain't gonna be new to us, but the dips we are facing now seems to be not good at all.  We have started last December and until now the price isn't moving high. 

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August 10, 2018, 01:29:31 PM
 #175

Many people was thinking that bitcoin is going to surpass 50k USD. But now i think it will be quite hard to hit 20k USD. Without a massive bull run these won't happen soon.
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August 10, 2018, 02:15:51 PM
 #176

BTC will hit $20000 but not too soon. It will take some time. Recently even the price dropped a bit. frequent coin changers are making this disruption in the market. Everybody should hold tight and trade carefully. 
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August 10, 2018, 02:21:13 PM
 #177

In my perspective BTC is not growing because the people who are holding it are scared of the crypto market now and selling it. That’s why it is going down I guess.
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August 10, 2018, 05:51:14 PM
 #178

big investors are needed. There is no continuity in investments. short-lived sell-market is not moving. also there are too many cheaters. many ICOs have failed. People are afraid to invest. governments do not show a positive attitude towards cryptography.
Even if it goes to 10k level now, the market is accelerating at a great rate. 20k levels yes very nice but not realistic. There are not enough investors to keep the 20k level going. if the supply-demand balance has to be in a certain continuity.

I dont know how you mean many ICOs have failed. Yes many ICOs failed to collect enough founds to run their project . It is normal. Go to kickstarter and you will see is same. But when you say this it looks like the project collected money and spend it and not delivered. That is totally impossible for ICOs happened in 2017 and 2018 and ways majority happened at that time. You cant really deliver anything in just a year. Only projects delivering are the ones that had product working before and made ICO just to collect extra money. and even for those 1 year is nothing. ICOs of 2017 will fail in 2020.  Yes there were also ICOs in 2015 and 2016. Those will fail earlier, but are in so small numbers compared to 2017 and 2018.


It is perfectly fine that people are afraid to invest. This is speculative investment for super rich angel investors that know that most of their investments will fail. IT is normal they are afraid to invest. Luckily everyone that invest here is investing with money that can easily afford to lose.

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valentinen39
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August 11, 2018, 05:33:03 PM
 #179

The main obstacle why bitcoin didn't touch $ 20,000 soon was because of the many negative news, when prices went up there were a lot of negative news that made the issue that bitcoin prices would drop so it suggested selling immediately so bitcoin was difficult to rise like last year.
It's because there's a lots of panic sellers and they wanted to gain easy money, when they seen the value rise a little they sell it out without waiting and this small movements really affects the current bull run as another person will sell too, a chain reactions and makes the bull run to get its corrections again and just repeat itself from time to time.

In my own opinion, bitcoins will still hit $20k dollars this year, there are a lot of panic sellers today but still it will grow even more before the year ends due to legalization of cryptocurrency in other countries.

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August 11, 2018, 07:05:24 PM
 #180

Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.

At the other hand, when there is weed next to a death, there will be competition between them, and if the weed is not there, the growth of the tree will be less competitive. I don't really think its the increase of ICOs that is the cause of bitcoin not going to reach that heights. 2017, bitcoin strock a point that was not expected, no one knows what it has in stock for this year.

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