Speculation will drive the btc ride further as always

[malekbaba]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

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[sunsilk]

Some says there is no use of btc and hence no demand of btc. So no one is buying.

Those people doesn't hold bitcoin or sold it earlier and can no longer purchase bitcoin at a very low rate. That's why instead of pushing the people that remains holding it, they want to mock and tell their negative views to discourage.

Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

There are those buyers that are even waiting to the lower prices that you've given. Bitcoin is a speculative market so it's given that it will drive the next bull run. But for 2020, $40,000 is still high IMO.

[anoufal]

It also seems to me that now someone is manipulating the price, such a change is not typical for bitcoin.

[CodyAlfaridzi]

But data shows btc is being traded from localbitcoins and dark market widely.

Which data?

In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

Sub $6K is way more likely than $40K in May 2020 You're too optimist. Even in the previous halving, the peak/new high wasn't made until a year or two after the halving happen. I'm not sure if BTC is going to make a new high after this halving though now that there are more money is already in crypto.

[rijaljun]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

So, you agree that currently Bitcoin has no real use (in wide area) and what causes the price movement is mostly just speculation?

[ragavancoin]

Some people are always gives negative feelings for bitcoins holds and new comers to crypto, because utilizing current situation of crypto market and it will regularly happens in crypto market so do not painc and sell your bitcoins they are utilizing our weaknesses.

My thoughts about bitcoin price prediction as $40k surely it will be happen in coming years once bull market is active.

[ChrisPop]

For now I look at Bitcoin more like at an store-of-value than a currency so most its value is derived from that, not because it has been adopted and the demand for making transactions is huge. IMHO we will convery to the mainstream currency phase once the market matures therefore it needs to reach a higher value because the supply is so small.

[minersday]

No offence at OP but currently speculation alone can't push bitcoin to such crazy prices again. We need more people using bitcoins to increase the demand of it so as to bring the prices up. Another thing that can also help increase the price of bitcoin is the halving of bitcoin block reward come May 2020. These are some of the factors that i think can bring real value to bitcoin in the nearest future.

[target]

$7k is quite a value. One will definitely want its price to depreciate as low as possible to buy at discounts. This proves itself that BTC is valuable base on intrinsic just like how the real currency works in the economy where we also speculate. I wouldn't say its just a store of value after all it solves centralization that scares people that central authorities can freeze their wealth.

[betty11]

Speculation is part of the market. Some persons ochestrate FUD in the market in other to buy low while others create false positive news and will end up causing a bullish sentiment, they sell off and wait to buy the dip again. This will not continue forever, much bigger money is coming to the market.

[kryptqnick]

For now I look at Bitcoin more like at an store-of-value than a currency so most its value is derived from that, not because it has been adopted and the demand for making transactions is huge. IMHO we will convery to the mainstream currency phase once the market matures therefore it needs to reach a higher value because the supply is so small.

I somewhat agree with this. For me, Bitcoin is now also mainly the store of value. I hold some BTC and expect it to grow in price or at least not to fall. However, I take some of it and sell for fiat when I need money for food or something like that. That is, I would love to be able to use Bitcoin as money as well, I believe in it as in money. Unfortunately, I am not really able to do that, so I end up using fiat instead.
As for the op, unfortunately, it seems true that the main thing that drives the prices is speculation. It's not those who are holding it long-term or those using it as money that determines the price; it's traders seeking for a fast profit.

[dothebeats]

So long as bitcoin is a free market not governed by strict trading laws and whatnot, you will constantly see volatility and other characteristics only unique to bitcoin as opposed to other trading markets. People will constantly try to take advantage of this for a nice profit margin and opportunities to make tons of money in just a short span of time. It will only go up from here as time goes by, that's for sure.

[Blitzboy]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

Personally, I believe that bitcoin will go up, however, with the value you have given above, I disagree. The present value is assessed as the true value of Bitcoin. The bubble has burst, and there will be no other. Therefore, the value of Bitcoin will grow steadily. Take a look at the price of gold, it is stable. Next year, I think it will return to 12k dollars or more, but 40k dollars is impossible.

[Fatunad]

It also seems to me that now someone is manipulating the price, such a change is not typical for bitcoin.

Nothing is changing and no one is manipulating the market yet, it's just your overthinking mind that's telling that the market is being manipulated. But as you can see the price is just moving in its normal movement. I still don't think speculation will have a big effect on the market to make a change, traders and whales are the only people I know that could make a change in the market.

[Mahanton]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

As usual stuff. You cant expect that BTC would really have those perma bulls yet there would always be those person who do sees bitcoin on negative either a true sentiment or just
have an intentional fud for their own benefit to re-enter on the market on cheaper price.

We cant deny that this market can really be driven with news and sentiments easily but we've been doing this for 10 years and bitcoins price does signify that it do
really have that potential to withstand those problems and keeps going on.

[nicecrypto]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

I think i prefer the former than the latter,  the market has witness enough down trend especially the alts that it is only required to see some good uptrend movement,  i hope the speculations will play a major role to drive the btc price to a greater height, everyone is just waiting to see what will happen next, i hope it will be positive than negative.

[kro55]

Which data?

Sub $6K is way more likely than $40K in May 2020 You're too optimist. Even in the previous halving, the peak/new high wasn't made until a year or two after the halving happen. I'm not sure if BTC is going to make a new high after this halving though now that there are more money is already in crypto.

You got it so right. There is no such data that shows Bitcoin statistics at darkweb. If darkweb data can be captured and analyzed it cant be darkweb anymore. Speculations are integral part of bitcoin market. 50K price hike was lastly heard in dec 2017 and now once again we are listening such things for next year. Just a FUD.
I do agree that the way bitcoin price is going down there is possibility that it may go beyond 6k.

[Tipstar]

Bitcoin is a completely new technology and a completely new experience. Let's wait and see where it would lead us. At least for the sake of being a pioneer, Bitcoin may survive for a long time. For the prediction of just 2020, I'm bullish. The halving would make bitcoin generation rarer.

[Slow death]

On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

We cannot be overly optimistic and we cannot make comparisons with the past. the current price is dropping every day, the current price can't keep above $10,000 and see that there is currently Bakkt that many people (including me) believed would make the price much higher than $9000 . But the reality is that the price is not getting above $10,000.

or without New Fools, Bitcoin may drop to $zero.   

this is something very difficult to happen, especially in the very advanced adoption stage that bitcoin currently has

[Bitcoinislife09]

Some says there is no use of btc and hence no demand of btc. So no one is buying.
Another type of people who wants to see btc sub 7k, so they can buy and make quick profit.
But data shows btc is being traded from localbitcoins and dark market widely. In the end, speculation and sentiment will drive the btc ride. On May 2020, btc may exceed 40k.or go sub 6k. Lets wait and ride the btc coaster.

I think bitcoin will not go down its price in the market I think it is still profitable whatever happened in this topic, also I think speculation in bitcoin doesn't affect the market price of bitcoin but the supply and demand of the market, also there is a lot of speculation in the market about bitcoin and i think whatever happened in the market I think investors will always invest in bitcoin as always.