The recent rise in prices, temporary or more long term?

[Paycheck]

BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.

Given that it looks like Joe and the Ho might actually get in, I am wondering if the big rise in BTC interest is because people are using crypto to transfer or HODL their cash assets to avoid taxes.  I certainly would.  I think that if it is the case, then BTC price has quite a bit of upside left in it yet, and when (not if) biden tanks the economy, then BTC will be used even more.

What do you think of the recent price gains and if the prices will stay up or crash out?



Trump won the election.  biden was INSTALLED, not elected.  There's a difference.

[PonZZ]

In my opinion the upward price action is caused by institutional investors' interest in Bitcoin. Some people who were skeptical about Bitcoin recognized it potential only after PayPal announcement.

[muenze]

Yeah paypal definitely "confirmed" Bitcoin. The paypal thing is pretty huge it does not get enough credit.I wonder if paypal regrets it because basically they opened the door to get disrupted by coins. Or maybe paypal was more scared of the exchanges since they have such gigantic volume and paypal was missing out.

The reason next to this, why bitcoin is rising so much is because everyone is scared of the future and of the central banks printing money like toilet paper.

You can go in silver or gold but the past has shown you cannot see huge gains there and it can even go down, and especially younger people arent so interested in gold.

One indicator to look out for tho, the financial system and the economy could go into boom years instead of the crash many expect. If it goes into boom years you can expect large bags to pull out their bitcoin again for stocks. In my opinion this would only be temporary since stocks are way overvalued still. There is no way a gigantic crash wont happen and this will benefit bitcoin even more the longer it takes to happen.

[Davian144]

OK, I am not going to tie a Trump campaign and biden in terms of price increases on Bitcoin, because in 2017 when Bitcoin was moving up faster it also had nothing to do with a real campaign, and for now Bitcoin has actually moved with fast too, although not as fast as in 2017, but now Bitcoin has been able to break the ATH record he has ever achieved,

so when talking about people who buy Bitcoin to avoid taxes, maybe yes, because besides they can get more benefits, too will not reduce their assets when prices continue to rise.

[iamsheikhadil]

In my personal opinion, I do feel like the price currently is too high and probably an artificial pump. Although it has been beneficial to many traders, I would not get into buying btc thinking it would go way up to 100k$ very soon. What we are seeing is probably the peak atleast for the current time being. Just like 20k$ was the peak of 2017. Bitcoin almost hit 40k$ which is such a big achievement and I think it will just float around that price or come back to 15-20k$. But I don't think Bitcoin will ever come below 10k$ anytime soon.

[acener]

It would depend on what price are you talking about we had so many price increase in a short time so which one would it be?
If you are talking about the price $20K-30K then I think it would be for long term and I think it would be hard to see it again below $20K.
But if it is above $35-40K then we couldn't tell if it is just temporary or for a long term we couldn't tell if it would be below it again.

[Lorence.xD]

In my personal opinion, I do feel like the price currently is too high and probably an artificial pump. Although it has been beneficial to many traders, I would not get into buying btc thinking it would go way up to 100k$ very soon. What we are seeing is probably the peak atleast for the current time being. Just like 20k$ was the peak of 2017. Bitcoin almost hit 40k$ which is such a big achievement and I think it will just float around that price or come back to 15-20k$. But I don't think Bitcoin will ever come below 10k$ anytime soon.

That is the most rational thing to do, not expecting much from the recent price hike because the crash might be looming closer than expected. The price will float around the 40k in my opinion but it will be for a long time before it will drastically go down because some institutional investors does not have the idea of selling their hodl for now.

[davis196]

BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.

Given that it looks like Joe and the Ho might actually get in, I am wondering if the big rise in BTC interest is because people are using crypto to transfer or HODL their cash assets to avoid taxes.  I certainly would.  I think that if it is the case, then BTC price has quite a bit of upside left in it yet, and when (not if) biden tanks the economy, then BTC will be used even more.

What do you think of the recent price gains and if the prices will stay up or crash out?



Trump won the election.  biden was INSTALLED, not elected.  There's a difference.

You can't avoid taxes by buying  and holding crypto.If avoiding taxes by buying cryptocurrencies was allowed,then everyone would buy crypto coins years ago and the crypto prices would be 10 times higher.
Biden and the democrats will probably try to slow down the massive growth of crypto,by increasing the taxes for the rich and the middle class and imposing more regulations over the financial markets.
The Bitcoin price will crash for sure,but this is completely normal.
 

[sensimilia]

After every fast grow will be correction. The main question is then. Of course, we will not return to below 5k point but -30% may be a real scenario in the near future

[Natalim]

The rise is just temporary, if we say permanent it means it will not dump.

We've see how the price rise in the past, what we are seeing here is the same scenario, maybe those new in crypto would not understand what is correction but correction will certainly happen. Don't know how long the bullish movement will go, we've reach $40k, so it's possible for another big run again.

Who knows but I believe there will be a correction that's gonna happen.

[Mauser]

In my opinion the recent rally in bitcoin prices will be the new normal. Its very unlikely that we will see a drop down to 10,000 USD any time soon. So many new investors and traders switched into bitcoins who are willing to pay top dollars for a few bitcoins. All these investors who would pay now 30,000 USD and more for coins will instantly buy up any new supply if there is a drop in prices.

[cheezcarls]

BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.

Given that it looks like Joe and the Ho might actually get in, I am wondering if the big rise in BTC interest is because people are using crypto to transfer or HODL their cash assets to avoid taxes.  I certainly would.  I think that if it is the case, then BTC price has quite a bit of upside left in it yet, and when (not if) biden tanks the economy, then BTC will be used even more.

What do you think of the recent price gains and if the prices will stay up or crash out?



Trump won the election.  biden was INSTALLED, not elected.  There's a difference.

Although that we can't predict the price very well because of it's high volatility, etc. I can't say that it's going to be temporary or long-term even if more institutions are buying in on Bitcoin, because it could lose steam anytime without warning. Although it's a good thing that we are seeing a dramatic rise of Bitcoin, it's in a parabolic shape and there will be a huge pullback later on when the bulls and institutions began losing momentum. 

[Jemzx00]

In my opinion the recent rally in bitcoin prices will be the new normal. Its very unlikely that we will see a drop down to 10,000 USD any time soon. So many new investors and traders switched into bitcoins who are willing to pay top dollars for a few bitcoins. All these investors who would pay now 30,000 USD and more for coins will instantly buy up any new supply if there is a drop in prices.

I agree with the thought that the current bitcoin rally will be the new normal and we will more of it in the later months on bitcoin. But for me, there's a chance that we may be able to see a sudden dip to as low as 10,000$ but it won't be long that it will be back somewhere higher like 20,000$ or even 30,000$ depending on how things will work out but the chances for it to happen may be highly unlikely as the price of bitcoin is right now.
We are seeing a tons of supporters, investors and adopters of bitcoin right now and there will be a huge wall supporting bitcoin so that it won't fall on those price.
Anyway, if it even happens then that will be the best chance for everyone to be involve and invest more on bitcoin and I for one will be waiting for it.

[Husires]

The Chinese ban was the cause of price corrections in 2017, after which we saw that the price rose again to more than $ 10,000 by the end of that year.
Betting on the United States in bringing about a change in price will not change many things.
The current rise is insane, and price corrections must take place, which will happen sooner or later.

[TheUltraElite]

It cannot be said right now whether it is temporary or long term. Most of the time I have been watching the market, highs are followed by lows, depending on how good the buying pressure vs selling pressure is at the lower ranges. Because once the dropping starts and the support at lower levels is hollow because the price got pumped overnight, we might be losses as big as gains.

Hence keeping politics aside, my advice currently is to hold. Bitcoin is about to touch 40k USD now which is a massive number and the selling pressure at this level is going to be massive as well. Basically whales might drain their wallets just to cash out if they wish too or might now as well following the bull trend.

Let the dust settle for now. Even if it is a bull market.

[Sterbens]

What do you think of the recent price gains and if the prices will stay up or crash out?

certainty which is quite difficult to say. where this increase far exceeds all market predictions. Bitcoin continues to rise in a bubble causing the next several falls for a moment. We can't be sure, it's just that based on December and January bitcoins hit half a billion. almost 30% to date, it will actually cause the price to fall for a long time. spent 2021 is still a long time, maybe there is an opportunity for us to prepare.

[ethereumhunter]

The recent rise in prices will be temporary, and the price will increase and decrease again. That is what happens to the market from a long time ago. But if you look for the future, the price could be increased so high, and you will not know how high the price will increase. I think traders now use this time to make as much profit as possible before the price drops too deep, and they will get out for a while from the market and enjoy the money.

[fuer44]

BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.

Given that it looks like Joe and the Ho might actually get in, I am wondering if the big rise in BTC interest is because people are using crypto to transfer or HODL their cash assets to avoid taxes.  I certainly would.  I think that if it is the case, then BTC price has quite a bit of upside left in it yet, and when (not if) biden tanks the economy, then BTC will be used even more.

What do you think of the recent price gains and if the prices will stay up or crash out?



Trump won the election.  biden was INSTALLED, not elected.  There's a difference.

Your claim makes a lot of sense if the increase in buying interest in bitcoin is because people put their cash assets in bitcoin because they want to avoid taxes, after all, bitcoin long-term capital would be very profitable. besides, people who already know about crypto investing will certainly do the same thing when the price of bitcoin fell some time ago. but wait, is trump the winner of president of america? sorry, I not read political news.

[aioc]

In my opinion the upward price action is caused by institutional investors' interest in Bitcoin. Some people who were skeptical about Bitcoin recognized it potential only after PayPal announcement.

That's also my opinion, after the announcement and the launching the price started to move up and until now it's moving up there's no letting go ever since  PayPal included Cryptocurrency in their platform, the community sees it as something that will start adoption by small, medium range and big institutions PayPal started the pump it and that's what's happening right now.

[dothebeats]

I believe the higher highs would pretty much be there to stay in the long term, given the amount of money that has already been poured in the market and the amount of coins being held by the institutional investors at this point. There is still a possibility of them offloading once a set price is reached, though it’s also important to note that the government is also doing its thing to establish the banks within the crypto realm, so it makes more sense for the institutionalists to hold even longer, thus securing the value of bitcoin since the ‘legit’ financial entities are already on board.