Bagaji (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 03, 2018, 09:42:33 PM Last edit: October 05, 2018, 11:50:16 AM by Bagaji |
|
I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year. Although It is just my opinion and I will love to know your opinion if contrary to my submission please. And since many who bought or invest at the peak in December last year are yet to recover their losses, it may be difficult for the market to reach such height before end of December this year.
|
|
|
|
Jating
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 07:53:12 AM |
|
I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year. Although It is just my opinion and I will love to know your opinion if contrary to my submission please. And since many who bought or invest at the peak in December this year are yet to recover their losses, it may be difficult for the market to reach such height before end of December this year.
In short, they're overbought last year because of FOMO. Noobs thought that the price will go on a continued parabolic rise but most seasoned traders knows what coming. But still they didn't listen and now they're all burned, scratching their heads and get out as fast as they enter. LMAO. Now what's left is the whales, manipulators, speculators and bots. And as long as there's no news that will bring those noobs back, it will be a continued struggled up to the end of the year, just saying.
|
|
|
|
carter34
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 1302
Merit: 25
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 08:15:46 AM |
|
it may be difficult for the market to reach such height before end of December this year.
I think we should not even let that start coming to our minds because we might be cut out from it. I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year.
Your analysis might not be totally wrong going by the economic terms you went with. Off course when the chase for product gets too much, that particular product could sky rocket in price either it is hyped or truly a good product.
|
|
|
|
HeRetiK
Legendary
Offline
Activity: 3052
Merit: 2166
Playgram - The Telegram Casino
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:01:21 AM |
|
I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year. [...]
Obviously increased demand will result in an increase in price, especially if supplies are limited. Question being where the demand is coming from. I think FOMO is just part of the equation -- in my opinion it only really kicked in once we broke 10k. The thing is, during the last year of growth I noticed an interesting change of attitude in people. Apart from more people talking about crypto, I've also noticed people taking crypto more seriously. Sure, you have many newcomers that went overboard and drank a lot of altcoin Kool-Aid, but I also noticed many other people getting started with crypto on a much saner level. So it's not just because people went into a buying frenzy. It's also because a whole lot of new people have been convinced that crypto proponents may be onto something. And I'm fairly certain that those people will stick around for a bit longer, regardless of whether we reach the next ATH by December this year or in 20xx.
|
|
|
|
▄▄███████▄▄███████ ▄███████████████▄▄▄▄▄ ▄████████████████████▀░ ▄█████████████████████▄░ ▄█████████▀▀████████████▄ ██████████████▀▀█████████ █████████████████████████ ██████████████▄▄█████████ ▀█████████▄▄████████████▀ ▀█████████████████████▀░ ▀████████████████████▄░ ▀███████████████▀▀▀▀▀ ▀▀███████▀▀███████ | ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ Playgram.io ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | ▄▄▄░░ ▀▄ █ █ █ █ █ █ █ ▄▀ ▀▀▀░░
| │ | ▄▄▄███████▄▄▄ ▄▄███████████████▄▄ ▄███████████████████▄ ▄██████████████▀▀█████▄ ▄██████████▀▀███▄██▐████▄ ██████▀▀████▄▄▀▀█████████ ████▄▄███▄██▀█████▐██████ ██████████▀██████████████ ▀███████▌▐██▄████▐██████▀ ▀███████▄▄███▄████████▀ ▀███████████████████▀ ▀▀███████████████▀▀ ▀▀▀███████▀▀▀ | | │ | ██████▄▄███████▄▄████████ ███▄███████████████▄░░▀█▀ ███████████░█████████░░█ ░█████▀██▄▄░▄▄██▀█████░█ █████▄░▄███▄███▄░▄██████ ████████████████████████ ████████████████████████ ██░▄▄▄░██░▄▄▄░██░▄▄▄░███ ██░░░█░██░░░█░██░░░█░████ ██░░█░░██░░█░░██░░█░░████ ██▄▄▄▄▄██▄▄▄▄▄██▄▄▄▄▄████ ███████████████████████ ███████████████████████ | | │ | ► | |
|
|
|
dothebeats
Legendary
Offline
Activity: 3752
Merit: 1354
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 11:44:26 AM |
|
Well basically demand is what really brought us to those heights, and without the foolish, irrational people thinking that the price wouldn't pop and would still continue to soar beyond $19k even if there are a lot of signs that say the price wouldn't hold. While others are already planning their way out, a lot of people still want to get in, hoping to get some hefty profits quickly. Unfortunately though, it didn't happen, and the inevitable event unfolded: the price popped.
This year, I'm not expecting any similar movement on the price but rather see a much quieter scene in the market, given that it takes time to accumulate for deep pockets and there are still a lot of coins out there up for grabs. Demand-wise, there isn't really a significant amount of buyers on the buy side, so it'll be hard to make a bull run happen anytime sooner.
|
|
|
|
davis196
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 11:53:23 AM |
|
Can you explain what do you mean by "demand-pull inflation"? I think that the major factors behind last year's ATH are the big bitcoin forks(bitcoin cash,Segwit),the anticipation of the bitcoin futures trading launch,the ICO boom and the overall hype that was dominating over the FUD.
|
|
|
|
vv181
Legendary
Offline
Activity: 1932
Merit: 1273
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 12:12:58 PM |
|
We all agree that demand is driven the price up in the last December. But I believe the fear of missing out factor is huge. We usually hear a person that bought bitcoin at the top whining about the money they lose. I'm pretty sure they are all caught up with FOMO.
|
|
|
|
supermine
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 12:27:47 PM |
|
Media hype is another reason for such huge demand at that time lot of news about bitcoin is been spreading all over the world even the normal local news channel broadcasting news about the bitcoin price increase,at one stage there is another form of news spreading was bitcoin bubble going to burst so people were gradually starts to move out their profits which resulted the price fall again.
|
|
|
|
1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 12:32:13 PM |
|
Demand isn't the only reason the price shot up so hard last year. One of the factors that people overlook is that there was little to no serious selling pressure, because those who bought their coins way before were aiming at much higher levels, and they got rewarded for their patience on the way up. I'm sure the correction was the trigger most people needed to finally start cashing out their profits, which explains why the price went down hard directly after the peak was in.
Take out 50% of current selling pressure and the market will organically increase without problems, and if you have a bull run on top of it, you'll see the price go up like it did last year.
2017 was a perfect year in each and every way.
|
|
|
|
randythered
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:17:18 PM |
|
I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year. Although It is just my opinion and I will love to know your opinion if contrary to my submission please. And since many who bought or invest at the peak in December this year are yet to recover their losses, it may be difficult for the market to reach such height before end of December this year.
Supply is near enough fixed so almost all price changes are driven by the demand side. For the next big bull run to commence bitcoin is going to have to breakthrough in to the mainstream market because most of the speculative investors already invested like you said.
|
|
|
|
yogg
Legendary
Offline
Activity: 2464
Merit: 3158
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:23:15 PM |
|
Supply is near enough fixed so almost all price changes are driven by the demand side. For the next big bull run to commence bitcoin is going to have to breakthrough in to the mainstream market because most of the speculative investors already invested like you said.
Either bitcoin will need a major breakthrough in mainstream adoption, or a major degradation in our current financial system. Often, there have been correlations between political events in some places, and the bitcoin price. And if the event is too local or too meaningless to be reflected on the global bitcoin price, there will be a premium in the country's national currency, over bitcoin. What I don't what to think about is ... if banks fail tomorrow, will we be dancing ? If yes, better it be on something else than ashes ...
|
|
|
|
Bagaji (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:36:33 PM |
|
Media hype is another reason for such huge demand at that time lot of news about bitcoin is been spreading all over the world even the normal local news channel broadcasting news about the bitcoin price increase,at one stage there is another form of news spreading was bitcoin bubble going to burst so people were gradually starts to move out their profits which resulted the price fall again.
From your point of view it literally mean that we may not see serious bullish movement like what we saw last year because the sudden decline in its value has course a lot of havoc which may take time for wood to be healed.
|
|
|
|
Jannn
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:38:59 PM |
|
Actually, it is suspected that the huge price hike we saw last year was due to price manipulation. There's currently an ongoing investigation into several exchanges which are thought to have facilitated this. Right now however, the debate remains open but I doubt we'll ever find out for sure what caused it, all we know is that we want it to happen again, and soon!
|
|
|
|
avikz
Legendary
Offline
Activity: 3206
Merit: 1525
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 04, 2018, 09:45:56 PM |
|
I have come to conclusion in my opinion that excessive demand for Bitcoin and crypto currency in general was the major factors that push its market value higher as at last year. Although It is just my opinion and I will love to know your opinion if contrary to my submission please. And since many who bought or invest at the peak in December this year are yet to recover their losses, it may be difficult for the market to reach such height before end of December this year.
I don't think you statement needs contradiction, not at least from my end. I too believe that huge demand lead to the ATH during later 2017. The market was absolutely over hyped and a lot of people with zero knowledge about blockchain, started investing in it! I know few people from my office, who had invested in bitcoin by using their credit card. Those who came out quickly, was saved. But majority of them are still paying the bills with huge interest amount. But I don't think market will be able to beat the ATH this year. The market is consolidating and being stabilized. Personally I would be more happy to see a stable price instead of seeing a hyper-inflated price of bitcoin!
|
|
|
|
|