Where is Bitcoin heading towards?

[chickenado]

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.

Im very optimistic that bitcoin will go sky rocketing again and hopefully on that specific period of time the price become more reliable. And the growth will draw more investors and business to use it as the medium of payments because of P2P the transaction is economical compare to fiat money, faster and becoming more secure and safer.

[khaled0111]

I will be amazed if Bitcoin price will surpass 10k$ before the end of this year (although I want it to do).
There are no good signs about a near surge and investors lost their faith in cryptocurrencies especially after the last crash by the beginning of 2018.

[figmentofmyass]

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.

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.

i can definitely see the bear case. but not enough to short yet, since there's been so much downside in alts already and BTC hasn't established a new downtrend yet. the fate of altcoins hinges on whether bitcoin breaks up or down.

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.

stability can be a good thing. there are countless examples of mid-term stability that turned out to be bullish accumulation phases. that's why wyckoff accumulation schematics are essentially sideways formations:

[Slow death]

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

this year is very different from the previous years and the difference with the previous years is because have many governments and banks implementing unfavorable regulations for bitcoin, which is reducing demand. This situation will not improve unless regulated things like ETF's and BAKKT or other regulated players come on the scene. That's why I do not believe we will see price increases at the end of the month

(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.

The sec is still going round to give its decision and this is not good, in my opinion just shows that they will reject

[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.

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.

Well, I guess it's a chicken or egg debate then. If we won't break those levels till there's some positive news (I agree) then saying we need to break that resistance to grow is just the same as saying we need some significant positive news before we can grow 

[exstasie]

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

this year is very different from the previous years and the difference with the previous years is because have many governments and banks implementing unfavorable regulations for bitcoin, which is reducing demand. This situation will not improve unless regulated things like ETF's and BAKKT or other regulated players come on the scene. That's why I do not believe we will see price increases at the end of the month

I don't think regulations or actions from regulators are reducing demand. Remember 2013, when Silk Road got busted? Or 2017, when the Winklevoss ETF got rejected for the first time? Bitcoin bubbled after these events.

BAKKT will get approved. The CFTC already approved physically-settled swaps last year. I'm not sure the market will care about the news though, since it's so stagnant.

[Work4cryptos]

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.

Exactly that is happening. We all are well known with the scenarios that bitcoin always jumps over in last months of year. Last year we observed a classic and tremendous jump of bitcoin. But afterwards everything was just faded out. People are waiting for so long and still no effective chances are seen. But, hope not out, we are quite optimistic about coming days.

[justdimin]

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.

One thing you have to understand is that prices don't just rise, they do so based on their level of adoption and believe me that if a time comes when someone is willing to pay $1 for a satoshi, as long as they realize there is value in doing so, then, it is something that can happen. One thing with this market is the fact that it is deflationary and that is one of the main things that makes it have a nature of it being an asset. The more people keep coming in, the more the usage, the more the value keep rising and when there is just so few supply to go around, what else do you expect. More like just a ripple effect.

[KingdomHearts]

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.

Well, at every point in time, there is always that period when uncertainty is something that will always occur most especially when the market is either overbought or oversold at certain point in time, so it is always better to get used to it, because it will still happen again and in this time, this is when consolidation occurs and could last very long.

Nonetheless, I believe bitcoin is set for an uptrend as there is all indication when it comes to that. We may still consolidate for a while, the truth is that no one knows, but one thing I am sure of is that, we simply could have actually found a bottom. Whichever way, I am sure time will decide that.

[wxa7115]

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.

A correction is definitely possible at the end of this year, we are seeing signs that the bulls are getting impatient and are buying coins more aggressively and are making the price of some particular coins to go up very fast even if a few days later the price goes down, so it is entirely possible that the bulls have accumulated enough coins already and now they want to push the price up, so if you're still doubtful about whether or not to enter in this market this could be the last opportunity that you could have to get bitcoin at the current prices.

Personally I will love to see the current prices for a longer period of time because that would mean that in the future I'll get better benefits out of my investment since I'll be able to put more money in the market but I cannot complain if we see a correction right now.

[WilliamCrum]

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

this year is very different from the previous years and the difference with the previous years is because have many governments and banks implementing unfavorable regulations for bitcoin, which is reducing demand. This situation will not improve unless regulated things like ETF's and BAKKT or other regulated players come on the scene. That's why I do not believe we will see price increases at the end of the month

(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.

The sec is still going round to give its decision and this is not good, in my opinion just shows that they will reject

There are always good and bad sides of a decision. The decision taken up by government in this year about regulation of bitcoin was quite welcoming and problematic as well. On the flip side the countries who are still thinking or working to regularize bitcoin are still in confusion. They are seeing behavior of people and economy and in my analysis, they aren’t getting positive vibes.

[audaciousbeing]

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.

The thoughts of where do we go from here is something that I am sure will be in the mouth of every genuine enthusiast and everybody who have a stake in the market and it does not matter whether you are core believer, SegWit supporter or BCH promoter. Its really happening without any end in sight because as its going, we might have to see a lot of people bolting the market and that would lead to a further downward trend in price.

I feel the argument of increase happening in December was only held true because some machinery of the state were not doing anything at the time and that is why it seems that government cannot stop the continued influence of crypto but now we are seeing it differently. Ultimately, we might not see the ATH at least in the short term but hopefully that the season period would breathe some fresh air to the market.

[bitcoinisbest]

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.

Exactly that is happening. We all are well known with the scenarios that bitcoin always jumps over in last months of year. Last year we observed a classic and tremendous jump of bitcoin. But afterwards everything was just faded out. People are waiting for so long and still no effective chances are seen. But, hope not out, we are quite optimistic about coming days.

If things go smooth and get some push then like last year also we can expect the market to bounce back to above 10k levels and might even cross 15k as still 1.5 months is left. Will it happen is the question and sooner it happens we will have many other players coming in and start buying which will push up the demand again and lead to rise in prices as well.

[Mhd-Bobbi]

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 think bitcoin is not the end of all this, indeed a condition that makes bitcoin decline, I see all this depends on demand.