Bitcoin Revival is On The Way - According to a trader

[Artemis3]

I think a lot of Gold traders also see the threat of investing into something where a centralized authority holds they key to your wealth. This is not the same with Bitcoin, when you invest in Bitcoin, you hold the key. <The Private key>

They also realized over the years that Gold cartels are manipulating the Gold price too and many people believe that the actual Gold that should be stored in some vault, might not be there anymore. <Example : Fort Knox>

And there is this scheme where they take out a portion of the gold inside a ingot and replace it with a cheaper metal that weights almost the same, covering any traces with actual gold. How are you going to inspect each and every ingot bar? You'd need to melt them and mint them again.

Also, someone will find gold in an asteroid someday... Gold is a nice metal, but way overpriced. Rust-less metal things like a fence as opposed to useless rings or jewelry, for example. Anyone living near the sea could use it in many more useful ways if it wasn't so darn expensive.

Before Europe "discovered" the Americas, South America actually had more gold than iron. Guess which one was considered more valuable? But their view of the world was limited to their lands, how were they going to know that worldwide gold was the scarce one. Of course most was pillaged and taken to Europe, made into useless jewelry or boring ingots to be "stored" and never seen by anyone ever again...

[aylabadia05]

of course, but not this year because all the problems faced continue to occur in the bitcoin world, optimistic that early next year the price of bitcoin can touch $ 4000.

[kryptqnick]

CNBC's Seema Mody interviewed Futures Now traders, Jim Iuorio and Scott Nations last night.

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL. Scott also said that he's not into this change in bitcoin value because he doesn't see the fundamentals that would drive it to a new level.
Other than fiat, bitcoin is the second most popular mode of payment now esp.

$4k is indeed a price barrier for Bitcoin, but I think the currency is doing well with it. However, it does not even seem to be moving towards another important stage of $6k, which is a price under which Bitcoin did not move for a really long time, and we used to think that it was low. Revival might be on the way, but on a long way of ups and downs that could easily take another year if not more.
And unfortunately Bitcoin is not even often treated as a mode of payment. Many just use it for trading or as a long-term investment, while money is supposed to be circulating because of being exchanged for goods and services.

[manok jepang]

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

the possibility exists but not this year.
Many predictions have been made since the beginning of 2018 about the price of BTC. However, most of these predictions are wrong. Therefore I do not always believe in the predictions of experts.

[Slow death]

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL.

when the price was $6000 they said the same thing and the price fell a lot, the funny thing about it all is that when they fail they do not see the public admit that they failed, instead they appear to make more predictions or give more opinion

Jim also added that people once tried to use gold as substitute to fiat, but they didn't like it anymore, so people searched for another substitute and that's BITCOIN.

How does he know that? he does not even show proof of it, that's just his opinion

with these governments' new rules regarding the use of bitcoin as payment.

it will take a long time for governments to regulate bitcoin and it will be possible to see bitcoin being used as a means of payments in many countries.

Do you think bitcoin will be soaring high again in the near future?

Yes I believe

[uszaty43]

There is a high possibility of bitcoin increasing in the near future but there has to be a drive to push it as you are saying and that drive or urge which would cause the rise of bitcoin to another all time high it's the increase mass adoption across the globe. If many people are actually using bitcoin to pay for transactions they make then the demand would really go up hence increase in the price of bitcoin.

[tunapa]

For now I believe bitcoin still has a long way to go considering the exposure , adoption and usage. Many things are going to be implemented and the fear of people will be subdued so they can invest peacefully and not bother about heavy price fall or heavy manipulation. Then the rally will be on the way.

[goaldigger]

CNBC's Seema Mody interviewed Futures Now traders, Jim Iuorio and Scott Nations last night.

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL. Scott also said that he's not into this change in bitcoin value because he doesn't see the fundamentals that would drive it to a new level. Jim also added that people once tried to use gold as substitute to fiat, but they didn't like it anymore, so people searched for another substitute and that's BITCOIN.

I agree with them. Other than fiat, bitcoin is the second most popular mode of payment now esp. in the cyber era where almost everything runs through computers. Bitcoin's value might just need more time to recover esp. with these governments' new rules regarding the use of bitcoin as payment.

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

Bitcoin really changed us into using money without any physical exchanges and so far, people likes to deal with their transaction this ways. Bitcoin in the other hand despite of the low market price is attracting people to buy it because of its financial opportunity. Our only enemy now is time but im sure it will be landing on the moon again.

[Lpim01]

CNBC's Seema Mody interviewed Futures Now traders, Jim Iuorio and Scott Nations last night.

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL. Scott also said that he's not into this change in bitcoin value because he doesn't see the fundamentals that would drive it to a new level. Jim also added that people once tried to use gold as substitute to fiat, but they didn't like it anymore, so people searched for another substitute and that's BITCOIN.

I agree with them. Other than fiat, bitcoin is the second most popular mode of payment now esp. in the cyber era where almost everything runs through computers. Bitcoin's value might just need more time to recover esp. with these governments' new rules regarding the use of bitcoin as payment.

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

Bitcoin really changed us into using money without any physical exchanges and so far, people likes to deal with their transaction this ways. Bitcoin in the other hand despite of the low market price is attracting people to buy it because of its financial opportunity. Our only enemy now is time but im sure it will be landing on the moon again.

I shouldn't have to believe that there is other coin tried to compete Bitcoin. We know its capabilities already and a lot of people trusting this coin, in fact it is now used for many transactions. Proven to be one of the most profitable coin in the market, it surely investors never look for new one. 

[Sebas.tian]

CNBC's Seema Mody interviewed Futures Now traders, Jim Iuorio and Scott Nations last night.

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL. Scott also said that he's not into this change in bitcoin value because he doesn't see the fundamentals that would drive it to a new level. Jim also added that people once tried to use gold as substitute to fiat, but they didn't like it anymore, so people searched for another substitute and that's BITCOIN.

I agree with them. Other than fiat, bitcoin is the second most popular mode of payment now esp. in the cyber era where almost everything runs through computers. Bitcoin's value might just need more time to recover esp. with these governments' new rules regarding the use of bitcoin as payment.

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

Always DYOR when it comes to crypto. You can consider some opinions but do not put all your trust in one man when you decide what to do with your money since that guy cannot possibly know also whats gonna happen next too.

As far as bitcoin's price goes, I'm contented with it. Lets value steady and natural growth rather than artificial growth fueled by shill and fomo.

[plvbob0070]

Although the value of gold never depreciate, today in modern era, most people are into technology already. Technology helps them to make things easy that's why they see bitcoin as substitute because it's much easier and the use of gold is very traditional. And as for your question, yes. I believe that it will rise again in the future. We just don't know when but it will surely increase.

[ralle14]

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

Definitely, but not in the near future because I don't like to hype myself over something uncertain.

Our only enemy now is time but im sure it will be landing on the moon again.

How is time our enemy? I don't get it since Bitcoin is clearly progressing.

Always DYOR when it comes to crypto. You can consider some opinions but do not put all your trust in one man when you decide what to do with your money since that guy cannot possibly know also whats gonna happen next too.

He only agreed to their opinions OP didn't said he would invest just because these people said so.

[betty11]

Bitcoin has remained stable at $4,000 mark, which is a good indication, but each time it tries to move a bit higher, an unseen force drags it down. Should we be able to break out to $4,500, we might head for a short bull run. One thing that is important we ask is what is really driving it to a new high level? Something must need to propel this current market away from this current low zone.

[juragane]

Yes I think bitcoin will be soaring high again very soon. Because there so many companies or tie up that going to invest and take the partnership wuth the bitcoin. Not only a regular company but most of them are the biggest and leading companies in industry so we can say that people's trust is now coming back to bitcoin and it will be the reason why bitcoin's will be rise again.

Hopefully what will happen in the future will be better, because large companies have certainly calculated carefully, and made and analyzed the benefits of using bitcoin in the future, so that we can predict the possibilities that will happen in the future will be good.   

[shesheboy]

i dont see any connection to the title from your post but id love to answer on what is written on the title  .  i agree that bitcoin's another rival is coming and that might be another crypto coin again but these kind of issue's are not new anymore  because ever since before  ,  bitcoin do already have alot of rivals but none of them have succeed because bitcoin is to superior  . bitcoin already have what new coin will possibly have  . the truth hurts but all of them are just a copy paste or only  a replica of the original bitcoin  .

[darklus123]

CNBC's Seema Mody interviewed Futures Now traders, Jim Iuorio and Scott Nations last night.

Jim called the $4,000-level of bitcoin value as the PSYCHOLOGICAL LEVEL. Scott also said that he's not into this change in bitcoin value because he doesn't see the fundamentals that would drive it to a new level. Jim also added that people once tried to use gold as substitute to fiat, but they didn't like it anymore, so people searched for another substitute and that's BITCOIN.

Quite funny because people are actually investing to bitcoin when it started booming and now mostly this certain people also starting to not like it because of its inconsistency (are they now going back to gold? or finding an alternatives of bitcoin is now their primary concern?)

I agree with them. Other than fiat, bitcoin is the second most popular mode of payment now esp. in the cyber era where almost everything runs through computers. Bitcoin's value might just need more time to recover esp. with these governments' new rules regarding the use of bitcoin as payment.

Your thoughts, guys? Do you think bitcoin will be soaring high again in the near future?

Bitcoin is far from being the 2nd most popular mode of payment (it might be one of the most recognized way of investing right now but not as a payment option). Which is in fact when BTC price is just not this high it is actually more being used for an instant business transactions unlike now. What bitcoin's value are you actually talking about? Bitcoin's value is actually higher than a bar of gold lol

[mapanlah]

Bitcoin is definitely heading in the right direction because in the last day the price has been steadily going up little by little. If it continues like that sooner of later the bull run should start and pump the price to a new high level as we have seen in 2017. Regarding to that trader's analysis I usually don't belive this kind of predictions and that's because there are dozens of it and it's impossible to follow just one since they all seem logical and are said by pretty famous persons.

from day to day the value of bitcoin is increasingly showing stability, this is good news that is very showing the interest of market participants to want to adopt bitcoin for all trading activities. then later all business people want to use bitcoin for all their payments.

[ramsdaj28]

I don't know how psychology would be involved in Bitcoin though, well for the sake of the action of traders, I can't connect the dots somehow. Never heard of anything regarding gold substituting fiat here in my country, but I guess they still see Bitcoin as an alternate fiat anyway so that's covered anyway judging that technology evolution right here is like being cherished a lot.

Psychology is actually a vast body of knowledge. Almost everything can have a psychological effect to specific group of people. The psychological thing about bitcoin and the traders is how these so-called WHALES' activities can affect the decision of the small traders in terms of trading or holding (more of an example of brainwashing).

With regards to gold, I think he's referring to the stock market where physical commodities like gold and oil are being used.

[bitbunnny]

Bitcoin has remained stable at $4,000 mark, which is a good indication, but each time it tries to move a bit higher, an unseen force drags it down. Should we be able to break out to $4,500, we might head for a short bull run. One thing that is important we ask is what is really driving it to a new high level? Something must need to propel this current market away from this current low zone.

This is still far away from remaining stable at 4000$ or more. Yes, for the last couple of days we can see some slow and steady price rise but that still doesn't mean that the price will continue to grow and remain above 4000$. I know this looks optimistic for many but it's too eaely to say that the bull run has started.

[olumyd]

... Anyway, news or analysis about Bitcoin price most of the time is wrong.

If that be the case, what's the true value driver for bitcoin, I mean, if we always had to rely on TA alone just to determine the price movement, then the fundamentals won't be needed, right? I think both the news and analysis are important markers, even if wrong they somewhat project an important  psychological profile of investors, traders, and bystanders, which IMO still reflects on the price action.