Bitcoin market doesn't fall, is it growing steadily!? (thoughts and analysis)

[gorodi]

I will try to add good content to forum!!! Please don't judge too hard  



3 months left until the end of the year and Bitcoin hasn't overcome a mark even in 10,000, not to mention a record in 20,000 in December of last year, so let's remember various "predictions" of Bitcoin's rate from analysts this year.

Here the most known of them:
- Pantera Capital: $20,000 ? 2018;
 - Thomas Li: $22,000 in 2018;
 - Max Kayser: $28,000 by the end of 2018;
 - Alistair Milne: $35,000– $60,000;
 - Anthony Pombriano: $50,000 in 2018;
 - John Pfeffer: $75,000 by the end of 2018;
 - Kay Van-Petersen: $100,000 by the end of 2018.

And now we watch at a current rate ~ $6572,86 – It’s far from figures above.
Though 3 months, certainly, a big term for the young market of cryptocurrencies, during this time here a lot of things can occur, considering extremely high volatility. But we must not to live alone hope for rapid growth, it is necessary to look at longer distances. But it is necessary to look at longer distances. We will return on a year ago and we will look at the figures.
On September 28, 2017 - a rate of Bitcoin was $4150 but now the rate of the main cryptocurrency is $6572,86.

Actually, in a year from September 2017 on the present day, the Bitcoin has risen on ~ 60%, and for the last 2 years more than 10 times.
Game of statistics, but the fact remains, for the year of +60%, you won't argue!!!

If not to equal constantly on December rapid growth up to 800 billion capitalizations and to look at the market in general, then at a bigger scale we see market growth.
But to most of people only rapid growth and a fast depreciation was remembered.
It is possible to tell that the industry wasn't ready last year to such explosive growth of capitalization.
So simply says - all spheres matures.
People began to think more not of speculation in the market, they began to think of more important things, such as the construction of infrastructure for institutional investors, safety strengthening, use of a blockchain and cryptocurrencies in daily tasks, creating favorable conditions for blockchain startups and etc.
 
Whether the firm base for new records of capitalization is ready now?  

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[franky1]

Whether the firm base for new records of capitalization is ready now? 

11 month bottom of $5,800 is holding well
3 month bottom of $6100 is holding well
its been tested multiple times and held.
the majority of coin movements in the 11 months have gained a individual value above it,
mining costs are currently above it.

but its too soon to move the milestone above $5,800 as the retests and mining cost threshold and majority holding coins that they didnt hold 1day-11 months ago is fresh

its normally best to wait 3-4 retests of a bottom. where its an obvious retest and not just normal daily/weekly waves
but with that said.. the underlying baseline value is healthier then previous years. and there is nothing wrong with a bit of speculation ontop (current mid $6k prices), its just too early to call anything in the $6k range as a baseline. as not enough coins have shifted hands to give a majority value in the $6k range,

but still
2016 above $300
2017 above $900
2018 above $5800

[diouf67]

When taking a longterm view of things you can easily conclude that bitcoin is still very bullish. To predict a collapse from here would be brave and very much against the trend. I do believe that when we look back in a few years time this will be just another blip along the road to greater adoption and a higher price.

[pixie85]

The majority now thinks that capitulation was at 5800 and this sideways market is a consolidation. Of course when the majority thinks something it doesn't mean that it is so.  In April people were certain it's over and we're on a rocket to the moon. That rocket couldn't pass 10000 and we were free falling back down. At that point the majority thought we're going to break lower and stop somewhere around 5000 but we didn't. This is why I have a huge degree of skepticism when reading predictions by analysts like Tom Lee who was telling us to buy back at 14000 because it was going to be right back to 20.

[CryptoDamon]

Whether the firm base for new records of capitalization is ready now?  

11 month bottom of $5,800 is holding well
3 month bottom of $6100 is holding well
its been tested multiple times and held.
the majority of coin movements in the 11 months have gained a individual value above it,
mining costs are currently above it.

but its too soon to move the milestone above $5,800 as the retests and mining cost threshold and majority holding coins that they didnt hold 1day-11 months ago is fresh

its normally best to wait 3-4 retests of a bottom. where its an obvious retest and not just normal daily/weekly waves
but with that said.. the underlying baseline value is healthier then previous years. and there is nothing wrong with a bit of speculation ontop (current mid $6k prices), its just too early to call anything in the $6k range as a baseline. as not enough coins have shifted hands to give a majority value in the $6k range,

but still
2016 above $300
2017 above $900
2018 above $5800

Those numbers only shows how strong the support of bitcoin is. Even if FUD is circulating online about the currency still it remained strong and slowly recovering from its losses few months back.
I just don't understand why there are some individuals who claim to be experts predicting wrong values or exaggerated values which will result to some new comers to lose huge percentage of there hard earned money, worst their whole retirement.

That is why we need to research and understand how this volatile market works before we put our money into it. For those predictions might just be a trap for everyone else.

Those predictions may be realized 3-5 years from now given the increase of difficulty in mining bitcoin.

[Rustamm]

Most likely, even the most minimal predictions of analysts about the price of Bitcoin will not come true by the end of this year. Bitcoin is unlikely to reach even the minimum specified amount of $ 20,000. I hope that the growth of the cryptocurrency market will be, but not so significant. Yes, I do not think that bitcoin is needed for cryptocurrency to even $ 20,000. The best bitcoin growth would be about 13,000-15,000 dollars. This would not again entail the consequences that we see this year.

[Herbert2020]

bitcoin is growing steadily with a solid support and solid use cases in real world. but the "market of cryptocurrencies" is falling because this market  does not only contain bitcoin but instead it contains thousands of altcoins most of which are pure shitcoins and copycoins without any usage in real world and that are created for pump and dumping purposes which means after they are pumped (like the pump of 2017) they eventually get dumped (like the whole year of 2018)

[Pursuer]

it is customary that you choose a title that is representing what you are talking about. here you are talking about bitcoin, bitcoin market and its price not "cryptocurrencies market" as a whole! and we all know the markets although having some similarity are very different from each other.

Now the cost of mining Bitcoin on average is $ 6,300 and therefore no one will pour it below this mark. Therefore, raise your orders at least up to $ 6500-7000, so at least there will be at least some chance to buy something.

the  cost of mining is not a fixed number. it depends on many factors such as your electricity cost and if applicable the rent, employees salary,... for mining farms and then difficulty and things like that.
not to mention that cost of mining is not determining the price. what does that is the demand in the market on exchanges.

[Kakmakr]

People tend to forget that we had a 3 year "slow growth" stage, before we had the spike in 2017. We do not have a large spike every year, just a slow upward movement in the price. The predictions are mostly thumb sucked figures pulled out of thin air and not backed by evidence that it will be guaranteed to happen. 

Look a bit deeper and you will find that these people are invested in Bitcoin and that they are trying to pump up the price by hyping it with outrages predictions. 

[BitcoinHodler]

usually people who are too concerned and afraid of the bitcoin price are those who want it to rise every day and are surprised when it doesn't but the reality is that bitcoin has been rising from day one. as some people like Franky would put it: we are in a 10 year bull market and price is constantly rising.

[gorodi]

it is customary that you choose a title that is representing what you are talking about. here you are talking about bitcoin, bitcoin market and its price not "cryptocurrencies market" as a whole! and we all know the markets although having some similarity are very different from each other.

Thanks you for mention it! I changed title!
Guys thank you for all you replies! It is super interesting! Yes Bitcoin has the power to grow!!!

[Qurelal]

It's hard for us to predict the future of bitcoin. It depends on many factors, primarily on the position of regulators. His most optimistic supporters believe that a maximum plan is being implemented: the cryptocurrency will defeat the “dictatorship of bankers”, supplant banks and reformat the global financial system. Realists are looking in the direction of China, which, according to a Bloomberg report, is considering the issue of issuing its own virtual currency, explaining that alternative payment systems can increase the efficiency of international transactions. And talk about the possibility of the emergence of other state cryptocurrency.

[therhslv]

You know that predictions can come to life even 3-5 days before new year . Price growth x2-x10 can happen so fast in crypto you wont even notice . So lets say if big money from institutions comes in , ETF approve and many more then we could see price jump to 20k in few hours i guess . Happens only in crypto

[feehannah]

Bitcoin is growing steady at this moment from the past few months but we all know that bitcoin price rapidly change depends on some factors that can be affecting on it's growth. We can't really predict exactly but we can predict changes if ever it will increase or decrease. The important for now bitcoin diesn't go down more than $5,000 and it become stable which still good for us. Lets just wait before end of 2018 if what bitcoin can bring to us.

[Asusnumbaone]

I will try to add good content to forum!!! Please don't judge too hard  



3 months left until the end of the year and Bitcoin hasn't overcome a mark even in 10,000, not to mention a record in 20,000 in December of last year, so let's remember various "predictions" of Bitcoin's rate from analysts this year.

Here the most known of them:
- Pantera Capital: $20,000 ? 2018;
 - Thomas Li: $22,000 in 2018;
 - Max Kayser: $28,000 by the end of 2018;
 - Alistair Milne: $35,000– $60,000;
 - Anthony Pombriano: $50,000 in 2018;
 - John Pfeffer: $75,000 by the end of 2018;
 - Kay Van-Petersen: $100,000 by the end of 2018.

And now we watch at a current rate ~ $6572,86 – It’s far from figures above.
Though 3 months, certainly, a big term for the young market of cryptocurrencies, during this time here a lot of things can occur, considering extremely high volatility. But we must not to live alone hope for rapid growth, it is necessary to look at longer distances. But it is necessary to look at longer distances. We will return on a year ago and we will look at the figures.
On September 28, 2017 - a rate of Bitcoin was $4150 but now the rate of the main cryptocurrency is $6572,86.

Actually, in a year from September 2017 on the present day, the Bitcoin has risen on ~ 60%, and for the last 2 years more than 10 times.
Game of statistics, but the fact remains, for the year of +60%, you won't argue!!!

If not to equal constantly on December rapid growth up to 800 billion capitalizations and to look at the market in general, then at a bigger scale we see market growth.
But to most of people only rapid growth and a fast depreciation was remembered.
It is possible to tell that the industry wasn't ready last year to such explosive growth of capitalization.
So simply says - all spheres matures.
People began to think more not of speculation in the market, they began to think of more important things, such as the construction of infrastructure for institutional investors, safety strengthening, use of a blockchain and cryptocurrencies in daily tasks, creating favorable conditions for blockchain startups and etc.
 
Whether the firm base for new records of capitalization is ready now?  

The market of the bitcoin for now is stable because of changing of thr the price and its hard to assume that it will be steady in the future. I think the bitcoin price will always changing because of thr demands and it is hard to know the outcome of the price

[gezhid008]

Any rise in the bitcoin market will be followed by a fall, and all the growth will only cause the bubble to burst. So the decline in the market is protecting the crypto market. But bitcoin is still very bullish in the long run.

[davis196]

Bitcoin is only 10 years old and we can witness a massive growth of the price during that time period,but 10 years is still a very short time frame,to make conclusions about "steady growth".Let's wait for another 10 years and see how bitcoin will perform.Then wecould talk about sustainable development of btc.

[coinwizard_]

The bottom line by miners has held well, shows strong support where needed. But the predictions are well off so far, if history repeats itself then there will be a massive rise but can't see any sign of it yet

[Eraldo Coil]

Bitcoin will not die in the next 2 decades or maybe it will be forever in the system and continue to grow. From what bitcoin reached it is impossible for it to suddenly die from out of nowhere. It is just the price is not moving because no trading happenings, there are some but price is to close to the base price.

[daarul50]

Bitcoin is still something that is too young in the world of investment so far we haven't been able to talk much about the development of bitcoin in the future even though bitcoin prices tend to increase every year. Many predictions from experts about the price of bitcoin every time. However, we cannot rely on bitcoin's hopes for these predictions because the price of bitcoin depends on the volatility of bitcoin price movements on the market.