The Rise of Bitcoin

[Sadlife]

Yes, according to the chart and data from over the years. If you look at the longer time frame, you can see Bitcoin is extremely oversold. We've been in a downtrend since 2018 and had major crash this year and 2018.
I guess when the financially instability caused by the pandemic and businesses closing, and people unable to use tangible cash. Bitcoin and Cryptocurrencies are much better alternatives, that must be the reason why Bitcoin is surging.

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[Congyang]

We can see the new surge of bitcoin in crypto market . It exceed $10K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin. But,to what extent bitcoin will raise more today?
Do you think ,what happened last 2018 will happen again this coming months?
What are the reason behind the rise of bitcoin?

Edit: Sorry for putting a wrong number on the value of bitcoin, I didn't mean it. It is just above $10K and not $500K.
       I wrote this topic just for discussion in order to know the opinion and knowledge of everyone.

to happen like 2018 I feel this can't yet, but I think it will be possible to experience an increase in the price of bitcoin. but maybe the value is not as big as 2018, because seeing the current global market which is still unstable we cannot expect big with the increase in bitcoin prices.

[bonjouros]

The percentage that we can see a bull run again like what happened last 2017-2018 is still 50/50 even if the bitcoin price already break the 10k$ barrier.

Stock market in already crumbling right now because of the pandemic so there is a big chance that they are shifting to crypto industry, this is the reason that I see why
bitcoin price or the market is already moving upward again. But what I am worried is, if when the pandemic will be gone as there is big chance that those investors will
go back again to stock market and the crypto market will likely to fall again.

[pragna]

We can see the new surge of bitcoin in crypto market . It exceed $10K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin. But,to what extent bitcoin will raise more today?
Do you think ,what happened last 2018 will happen again this coming months?
What are the reason behind the rise of bitcoin?

Edit: Sorry for putting a wrong number on the value of bitcoin, I didn't mean it. It is just above $10K and not $500K.
       I wrote this topic just for discussion in order to know the opinion and knowledge of everyone.

I think there are three reasons for BTC raise up, those are

01.  Swiss bank making custody of BTC as their banking policy.

02. US Central bank also doing same as Swiss bank so that if reflacted fully in crypto market.

03. In pandemic season people was searching for safe investment place for income with safely also and they targeted BTC with online investment and income.

I think those good news make market fully high and hope it will continue many days.

thanks.

[glowing10]

I suppose that the fall of the economy has given new opportunities for crypto. Many saw potential in Bitcoin.

Bitcoin always had potential to grow form the initially stages itself, only thing not many believed in it or said it is going to be bubble or will be temporary but after a decade now people are realizing that it has true potential to grow and also to help businesses to grow.

[rodskee]

I suppose that the fall of the economy has given new opportunities for crypto. Many saw potential in Bitcoin.

Bitcoin always had potential to grow form the initially stages itself, only thing not many believed in it or said it is going to be bubble or will be temporary but after a decade now people are realizing that it has true potential to grow and also to help businesses to grow.

With this pandemic, people got the time to investigate and check the usage of this system realizing
that it's for real and really manageable to use.
Those negative views are now starting to replace by trust and hope that somewhere people will benefits
from this system  both investment and currency side of it.
Eventually more adoptions will take place, more business will embrace this system and it will be useful
in most industries around the globe.

[Ridwan Fauzi]

Eventually more adoptions will take place, more business will embrace this system and it will be useful
in most industries around the globe.

I don't know if there is a company who will accept bitcoin especially for payment system only or you have another forms how bitcoin will be adopted? Currently, there are several firm who just use bitcoin as an investment place. As in this article which stated some companies who bought a huge amount bitcoin for investing purpose.

[posi]

Eventually more adoptions will take place, more business will embrace this system and it will be useful
in most industries around the globe.

I don't know if there is a company who will accept bitcoin especially for payment system only or you have another forms how bitcoin will be adopted? Currently, there are several firm who just use bitcoin as an investment place. As in this article which stated some companies who bought a huge amount bitcoin for investing purpose.

It not about what you and I thought but how each and everyone of us understands the purposes of bitcoin. However, bitcoin can use as an investment, store of value and currency. Just because some companies see bitcoin as an investment purpose doesn't mean there's no company that accept it as payment and we have see some companies that pay wages with crypto.

I suppose that the fall of the economy has given new opportunities for crypto. Many saw potential in Bitcoin.

Bitcoin always had potential to grow form the initially stages itself, only thing not many believed in it or said it is going to be bubble or will be temporary but after a decade now people are realizing that it has true potential to grow and also to help businesses to grow.

With this pandemic, people got the time to investigate and check the usage of this system realizing
that it's for real and really manageable to use.
Those negative views are now starting to replace by trust and hope that somewhere people will benefits
from this system  both investment and currency side of it.

The pandemic helps showcase bitcoin potentials to the world but if some government negative stance toward stay the same bitcoin adoption may not occur in the country governed by the government.

[Savemore]

I suppose that the fall of the economy has given new opportunities for crypto. Many saw potential in Bitcoin.

Bitcoin always had potential to grow form the initially stages itself, only thing not many believed in it or said it is going to be bubble or will be temporary but after a decade now people are realizing that it has true potential to grow and also to help businesses to grow.

With this pandemic, people got the time to investigate and check the usage of this system realizing
that it's for real and really manageable to use.
Those negative views are now starting to replace by trust and hope that somewhere people will benefits
from this system  both investment and currency side of it.
Eventually more adoptions will take place, more business will embrace this system and it will be useful
in most industries around the globe.

It will take time before the negative views toward bitcoin will be changed as positive, there are now a lot information all over the internet about bitcoin but not all of it is legit especially topics about investments. The view of other people to bitcoin is an investment and not a currency but it is okay after all. Bitcoin will change the payment system if the people will choose to adapt it and if the negative rumours about bitcoin will be change into positive where many people will fully understand how it is working.

[XEsseKasper]

No matter how much we would like to see cryptos as stable currencies which will replace fiat one day, still their value is driven mostly by speculation. We need to understand this fact. It is good for trading, but I see high risk of buy-and-hold strategy

[LimLims]

I think most people expected to go around $12k

Hope what you said becomes true.
But who can forget that milestone which we reached in 2018.
I want the history should be repeated another and for that reason i am also holding my BTC to make good profits.

But the price of BTC will only rise if we make the Demand of Bitcoins more, by promoting it across various platforms.
This will help in the growth of demand of Bitcoins and hence the supply will be less and price will be high.

Nevertheless let's hope for the best and wish Bitcoin will reach 100k $ soon. 

[john_nautica]

I think most people expected to go around $12k

Hope what you said becomes true.
But who can forget that milestone which we reached in 2018.
I want the history should be repeated another and for that reason i am also holding my BTC to make good profits.

But the price of BTC will only rise if we make the Demand of Bitcoins more, by promoting it across various platforms.
This will help in the growth of demand of Bitcoins and hence the supply will be less and price will be high.

Nevertheless let's hope for the best and wish Bitcoin will reach 100k $ soon.  

I agree with you. I am also hopeful for Bitcoin to reign once again. We should be careful now since the market has been moving drastically in the past year. But nevertheless, improvements are seen this time around.

[Viglione]

I am very happy to knowing this news. This time bitcoin prices are increasing.

[kawetsriyanto]

~I am very confident that one day we will see the price of bitcoin reach $ 15k again.

Indeed. It is very possible but we don't know the exact time or when it is. Even many experts stated that at the end of 2020 or in 2021, the price of Bitcoin should be above $15, but there is no guarantee of it. The Crypto market is very volatile and unstable, so the upcoming price of Bitcoin basically cannot be really predictable. I suggest to learn deeply the potential of the current Bitcoin rise, don't hurry to buy more only based on the Hype. After an increase should be followed by a correction, so plan your target properly and realistically.

[smyslov]

Try to read some news or articles related to recent bitcoin spike so somehow it will give you an idea. Not totally those are the reason but somehow you can draw a picture on why the spike happened.

I will give you one, https://cointelegraph.com/news/why-bitcoin-suddenly-spiked-to-10-200-liquidating-75m-in-fast-rally

From there, it will feed your mind about some of the reasons and you can use those as references.

This thread is way more appropriate in the Speculation thread. You can consider moving the thread there.

The best part of the article

Well-known trader Peter Brandt, meanwhile, expects the price of Bitcoin to hit a new record high and eventually make its way to $50,000.

but I doubt that record high can happen this year with all the world's mess now, the probability is high for it to happen next year.

[ancafe]

Well, I think that the current increase in the price of bitcoin is the effect of the halving. Well, I hope that I am right, and the speculation is, the price will pump in 2021 due to the halving effect as happened in previous years. well, if there is any other factor, it would be because people started investing in bitcoin again. I'm pretty sure the bitcoin price will continue to recover to close to $ 15k this year.

[finaleshot2016]

Well, I think that the current increase in the price of bitcoin is the effect of the halving. Well, I hope that I am right, and the speculation is, the price will pump in 2021 due to the halving effect as happened in previous years. well, if there is any other factor, it would be because people started investing in bitcoin again. I'm pretty sure the bitcoin price will continue to recover to close to $ 15k this year.

Well, the halving that occurs in the past month could be the factor of bitcoin's price increase but it's already Q3 of the year 2020 and it's always increasing at this quarter. Yeah, I hope that bitcoin price right now reaches $15k usd and probably, this will attract more investors and will increase our crypto community.

It will make cryptocurrency at the mainstream again. I'm not hoping for a new ATH this year but I know that soon it will record another new ATH this year or 2021.

[Rafiqul]

I think most people expected to go around $12k

Hope what you said becomes true.
But who can forget that milestone which we reached in 2018.
I want the history should be repeated another and for that reason i am also holding my BTC to make good profits.

But the price of BTC will only rise if we make the Demand of Bitcoins more, by promoting it across various platforms.
This will help in the growth of demand of Bitcoins and hence the supply will be less and price will be high.

Nevertheless let's hope for the best and wish Bitcoin will reach 100k $ soon. 

We who are involved in cryptocurrency all hope and believe that the price of Bitcoin will go up further, but by 2020 it will be $12K according to some, $15K according to others .. etc. Although the crypto market is very volatile and volatile, it seems unreasonable for me to expect the price of Bitcoin to reach $100k  soon. I personally think that the price of Bitcoin could reach $15K by the end of 2020.

[JuSayCo]

Growing individuals here in Crypto world are probably happy with the Rise of Bitcoin's price. For me, this must be something that I've  always wanted because I am only relying with the profits that I may be getting in Bitcoin industry since this pandemic started to spread around the world.
I am hoping that the price will rise more higher so everyone here would be blessed despite this crisis.

[EmJay]

I am so happy that bitcoin reaches $11k yesterday, I really shocked about this because there are no predictions from an expert about some big movement of bitcoin. It only means that bitcoin is really unpredictable, there is no person who can predict what will happen soon to the price of the bitcoin, one thing for sure is that bitcoin could reach higher than that because we're still in pandemic.

Yes unpredictable indeed, as bitcoin value or cryptocurrency is volatile so he possibility of changes everyday is a big chance. it could reach to the top within just a few days . It seems like it's getting back on track.  We are all waiting for the bull run. I hope it will be soonest.