Where is Bitcoin heading towards?

[Stedsm]

After considering many threads based on the same question by people who've invested in Bitcoins, whether they purchased it at its ATH or below it but above the current price (thinking of whether the price will recover), or if they bought it at current values (where they want to know that is it safe to be in BTC or should they need to tether it out currently). Based on the calculative analysis and the fact that it has reached the end of falling wedge and a very big triangle that had formed, is going to end very soon, we can expect Bitcoins to finally break it upwards and the move will be very big, just like last year (though, I don't think it will break its ATH). It's been in history and you can check it yourself that Bitcoin always got higher during Christmas and it's already near, and considering the fact that it's already been consolidating after the futures expired (and a big chance for SEC to approve a few ETFs), Bitcoin will definitely have a chance to break high values (at least double to $12k) and blast off the shorts, so we can say that we may have a sigh of relief once the bull run enter the markets.

[figmentofmyass]

After considering many threads based on the same question by people who've invested in Bitcoins, whether they purchased it at its ATH or below it but above the current price (thinking of whether the price will recover), or if they bought it at current values (where they want to know that is it safe to be in BTC or should they need to tether it out currently). Based on the calculative analysis and the fact that it has reached the end of falling wedge and a very big triangle that had formed, is going to end very soon, we can expect Bitcoins to finally break it upwards and the move will be very big, just like last year (though, I don't think it will break its ATH).

i'm definitely feeling bullish at this point, since stamp and others are pushing above the daily bands, and because altcoins are close to breaking out if they haven't already---bcash went crazy already. that kind of sentiment suggests the bulls are getting antsy and are ready to start eating through the ask side.

just need to bust through the $6800 area, which kept a lid on price through september and october.

It's been in history and you can check it yourself that Bitcoin always got higher during Christmas and it's already near

christmas 2014 was super bearish though. just sayin!

[davis196]

After considering many threads based on the same question by people who've invested in Bitcoins, whether they purchased it at its ATH or below it but above the current price (thinking of whether the price will recover), or if they bought it at current values (where they want to know that is it safe to be in BTC or should they need to tether it out currently). Based on the calculative analysis and the fact that it has reached the end of falling wedge and a very big triangle that had formed, is going to end very soon, we can expect Bitcoins to finally break it upwards and the move will be very big, just like last year (though, I don't think it will break its ATH). It's been in history and you can check it yourself that Bitcoin always got higher during Christmas and it's already near, and considering the fact that it's already been consolidating after the futures expired (and a big chance for SEC to approve a few ETFs), Bitcoin will definitely have a chance to break high values (at least double to $12k) and blast off the shorts, so we can say that we may have a sigh of relief once the bull run enter the markets.

I don't believe in your 12K USD prediction,but let's hope that it will happen at the end of the year.However,I will not sell any of my bitcoins,even if the price goes to 15K.I will just HODL and wait for the big ATH,which will be the  biggest in bitcoin's history.The expiration of the bitcoin futures is good news in the short term,but it would be great if the btc futures trading stops.

[Herbert2020]

i seriously doubt that SEC is going to approve any ETF anytime soon but if they do it soon then the timing can be good since the drop has been over for a couple of months now and the price has been at the bottom for a long enough time for accumulation to finish. and that kind of news can be the initialization force for the rise to begin.

otherwise i am expecting a slower rise like what we had in 2015 after the similar stable price which will break $10k in a couple of months which will be in 2019 and with all the good news that has been coming out all this time we can expect a new ATH in 2019 too.

[stelee68]

Last 7 days (from 1st Nov) we have been seeing higher highs, and everyone is saying bull-run.

To me, short-term gains from these 7 days could be easily wiped out in half a day or so. So yes, whether up or down is purely speculative.

Come what may, but I will only start accumulating when btc touches 6k again.

[Tapyaks72]

Last 7 days (from 1st Nov) we have been seeing higher highs, and everyone is saying bull-run.

To me, short-term gains from these 7 days could be easily wiped out in half a day or so. So yes, whether up or down is purely speculative.

Come what may, but I will only start accumulating when btc touches 6k again.

No body  an get exactly what will happen to price it either high or low, we always hoping for  a bull run for  it s what happened several years.

[Rasa nanas]

No body  an get exactly what will happen to price it either high or low, we always hoping for  a bull run for  it s what happened several years.

Don't expect too many bull runs to occur this year, use hope for something more reasonable. 2018 will wake up many people if the price of bitcoin doesn't always rise at the end of the year.

[eaglewhite80]

Honestly, at this point, there is actually every indication to be bullish. The fact that the market has been tapped out and has been consolidating for a while now is enough reasons to be bullish on the market and then accumulating for the upcoming uptrend. We may not see new ATH or the chances of hitting the previous one, but one way or the other, we should see some possibility of an upward movement in the market before the end of the year.

[dothebeats]

I'm still bullish right now even though there doesn't seem to be enough traction for BTC to go on and make a push. In the past 3 years, December has always been merciful and giving, true, but how sure are we that it's going to be the same trend again? We have had enough difficulty bresking $6800, and until then the price will keep on floating in $6400-$6500. The Koreans and the Japanese are adding up crazy volumes on their exchanges, and only the last few weeks of this years will tell us whether those volumes will do something for the price.

[BitHodler]

I'm always bullish, that's something that will never change. The months of sideways action is what I consider to be a crucial aspect for any long term minded investor or believer to dollar cost average into this market.

I know that we won't hover around current levels for ever, but there isn't much at this point that will push Bitcoin higher. We might see an end of the year rally, but these rallies never last long and only serve speculators.

If there is something to look forward to, then it's for sure the block halving with how the market traditionally increases well before the halving takes place. Maybe LN might be closer to mainstream adoption by that time as well.

[javadsalehi]

I agree that bitcoin price will finally rise. But Christmas or any other holiday cannot affect the price.
Why Christmas should help the price to rise?
In the past Christmas the price was falling. Even if the price was rising that time, there is no guarantee the price will rise in the next Christmas. There are many other factors much more effective that can be discussed.

[triciaa478]

Bitcoin price hanging around 6000 to 6500 usd for the past months is a proof that bitcoins has a place in the future digital economy and I believe this stability in price is going to move bitcoins to a new height in the coming year.

[Fulmand]

No body  an get exactly what will happen to price it either high or low, we always hoping for  a bull run for  it s what happened several years.

Don't expect too many bull runs to occur this year, use hope for something more reasonable. 2018 will wake up many people if the price of bitcoin doesn't always rise at the end of the year.

Bull run was just an entire trend that will occur once it happens during green markets. I couldn't agree that there are many ways to occur, because we're still in the midst of uncertainty and the market still wasn't increasing that much compared of what happened last year.

[buyinbtc]

After considering many threads based on the same question by people who've invested in Bitcoins, whether they purchased it at its ATH or below it but above the current price (thinking of whether the price will recover), or if they bought it at current values (where they want to know that is it safe to be in BTC or should they need to tether it out currently). Based on the calculative analysis and the fact that it has reached the end of falling wedge and a very big triangle that had formed, is going to end very soon, we can expect Bitcoins to finally break it upwards and the move will be very big, just like last year (though, I don't think it will break its ATH).

i'm definitely feeling bullish at this point, since stamp and others are pushing above the daily bands, and because altcoins are close to breaking out if they haven't already---bcash went crazy already. that kind of sentiment suggests the bulls are getting antsy and are ready to start eating through the ask side.

just need to bust through the $6800 area, which kept a lid on price through september and october.

It's been in history and you can check it yourself that Bitcoin always got higher during Christmas and it's already near

christmas 2014 was super bearish though. just sayin!

Highly doubt that altcoins are breaking out. Remember the ripple pump when it did 2x? I think it's just another dead cat bounce after which the price will get pushed down even more to around 5k and then if there will be some technical signals of a possible pump I might go bullish. Now short any time of the day, we're nowhere near the 6.8k resistance and the bullishness is already slowing down.

Bitcoin price hanging around 6000 to 6500 usd for the past months is a proof that bitcoins has a place in the future digital economy and I believe this stability in price is going to move bitcoins to a new height in the coming year.

Stability isn't a good thing. It makes it unattractive for investors that are into bitcoin because of high volatility and day trading. Can't remember the last time bitcoin was so boring.

[el kaka22]

The truth is no one really knows where it is heading. Yes we know that in the long term future the price will go up, that is the logical explanation, even if can't be proven by any metric by the looks of it everyone agrees 5 years from now bitcoin will worth more than what it is today.

Moreover, what is the end game for bitcoin, what we aim by getting it we don't know. Everyone knows bitcoin can't be couple billion dollars each, that is not remotely realistic, I personally do not believe it will reach 1 million dollar as well. I think 100 thousand dollars is the most realistic estimate, not big enough to be a dream and not low enough to be easy to achieve. However what happens next ?

What if it reaches 100 thousand, than what? What do we do with the cryptos we have and how do we use it. So, the next step after all this price drama should be to focus on getting bitcoin adoption all over the world.

[pooya87]

What if it reaches 100 thousand, than what? What do we do with the cryptos we have and how do we use it. So, the next step after all this price drama should be to focus on getting bitcoin adoption all over the world.

adoption has always been the first step not the next one. and that is why the price rises in first place. it doesn't go up first then adoption happens. it is the exact opposite. for example last year when Japanese government considered bitcoin as a legal way of payment the adoption in Japan boomed when merchants started accepting it all over the country and that was one of the biggest reasons for the 2017 rise.

[Idrisu]

Currently the uncertainty in the market is very high and it will take a great push for bear or bull to have control over the market.  I could still remember when ranging trend were happening in the past and whenever there is a breakout it always be a big move.

[Stedsm]

Currently the uncertainty in the market is very high and it will take a great push for bear or bull to have control over the market.

Let's not call it a push for control when it's all about the demand, number of people willing to buy higher is currently low because speculation in markets are towards the down side and they fear to lose if and only if the trend continues to slide lower. The fact actually is, when too much FUD happens in the markets, there comes a bigger possibility of bears to make moves (not control, but make their moves) to pull the price down to their expectations, but this also gives chance to bulls to accumulate more and throw out weak hands off the markets to stop the unnecessary selling pressure that's being created by the bears. This is where bulls push it off harder (either through a pump or via stable times to outsmart bears in their own game) as well as create chaos amongst other medium and low level players to spice up the price a bit more with their money.

I could still remember when ranging trend were happening in the past and whenever there is a breakout it always be a big move.

That was just for alts as Bitcoin had been moving in zigzag (pump-dump and make that triangle) style only since last 6 years after accumulation was already done at a very high scale, but I think that there's still the same pattern we're going to witness this year again with the alts as many are already showing the same breakouts and are being moved damn higher specifically focusing on their fundamentals.

[tdrinker]

Bitcoin still needs to break through some resistance before we can even consider a strong bullish momentum. If the price can break through the high 6000s resistance then that could be the signal for the bulls to start taking control. I'm both optimistic and skeptical at the same time currently when considering what will happen in the coming weeks/months.

[kumiskura]

Bitcoin still needs to break through some resistance before we can even consider a strong bullish momentum. If the price can break through the high 6000s resistance then that could be the signal for the bulls to start taking control. I'm both optimistic and skeptical at the same time currently when considering what will happen in the coming weeks/months.

there will be no resistance if we can get something similiar to CME listing in the future or basically it is totally impossible for us breaking those levels without news or shills from somewhere or someone. right now we are waiting or some peoples are waiting for Bitcoin ETF and it got delayed again for who knows how long it will be.
because of that, we could see the market turned into fear,hesitation and bearish. that is why we need shills or news to start the run, and simply breaking those level won't change the trend.