Progression in price

[JamesBorn]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC. Least am expecting by DEC is probably 70k bull.

[paid2]

Yeah, Bitcoin's progress is efficient as we enter 2023. For now, everything is looking to go really in a smooth way.

However, there are no guarantees about the future.  Neither Adam Back nor anyone else can predict anything about the price of Bitcoin in the future: his predictions could turn out to be right or completely wrong.

However, I am quite optimistic about the price of BTC going up in the next year or so, the halving is in about 1 year and we all know that this implies (historically anyway) some very interesting price movements.

I hope you're right about 70k in December, but better to wait and see what happens rather than waste energy trying to make calculations and predictions. As said, we are one year away from halving, the hardest part is done (I mean for the holders who bought after previous bull), we just have to wait a little bit and keep an eye on the rates.

[Don Pedro Dinero]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression  <...>

I don't know where you get the idea that the price of bitcoin is going to follow an arithmetic progression increasing by 70% per quarter. Anyone who follows the evolution of the price knows that it never goes up like that. It's more like a roller coaster, not a straight upward line.

On the other hand, we are supposed to beat the peak of this cycle in 2023? I would like to see strong arguments to support that this is the case, other than that it is simply thought to be the case, full stop.

[Darker45]

It's best to cite the source if you quote somebody.

Anyway, there's a reason why I am more inclined to fundamentals rather than the technicals. History doesn't just repeat itself. It's not as if Bitcoin's price exists in a vacuum. It is affected by news, regulations, even FUD and fake news, and other circumstances that may directly or indirectly affect it.

But I think that in the absence of a big factor affecting its price, Bitcoin would continue to rise because of the continuous adoption that has already started.

[Z390]

Do not follow in the footstep of others, be more realistic, this information you gave is nothing but a mere prediction and predictions don't always work out as predicted in the crypto space, there are many reasons why Bitcoin may dump or rise up in value by 3rd quarter of this year, FUD, Bad news, Good news, etc. I would prefer to focus on the coming Bitcoin halving, after that then we will see better growth and price action, 2023 is off my mind for any huge move, we are still in a bear market and I won't stop accumulating some Bitcoin and alts for now until the halving is finally over.

[davis196]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC. Least am expecting by DEC is probably 70k bull.

There are no such things as "progression" and "regression" when it comes to a market price. The price is determined by the supply and demand.
The price can go up and down, because the demand can go up and down. Just because there is a certain price pattern, that doesn't mean that this price pattern will continue in the future. I don't expect a 70K-100K Bitcoin price by December. I expect the crypto winter to continue until the spring of 2025. There might be a big bull run several months after the 2024 halving, but nothing is guaranteed.

[GeorgeJohn]

We will say that its a personal assumptions and prediction of Bitcoin, sometimes you will not follow the speculations of people as a clear evidence or what to follow in cryptocurrency, if he/her want us to believe in such prediction let us show us a prove to stand on, one thing I believe in cryptocurrency and mostly in Bitcoin, is that you can come up with your personal analysis of Bitcoin now and tomorrow Bitcoin comes up with it's own regulations either positive or negative one, i believe right from time that Bitcoin rotation in value and especially positive one comes from the determinant of the market, and again the information of demands and supply of Bitcoin in the market are what contribute to the increment, it might have experience a negative information of Bitcoin market will depreciates it in price, so it's obvious. It might reach to the time op implies that Bitcoin will rise and it happened to fall, so therefore Bitcoin is unpredictable.

[cryptomaniac_xxx]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC. Least am expecting by DEC is probably 70k bull.

No, I don't think that any big cities will have any influence on the market.

Still based on supply and demand, that is the basic tenant of bitcoin market. If investors see opportunities to make money, like trading and stuff then they will surely buy it. And then we have the long term holders who are filling their bags with this cheap bitcoin because as you have said, in his prediction, the price is going to explode not just in 2023, but definitely next year after the halving and then the eventual bull run.

[Jating]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

Everyone can make his own wild and educate guess like Adam Beck, so you can do your predictions too. As for the growth, we have recovered from last year so everyone is very happy to see the price touching $30k after a bad 2022.

As I have said, we can make our own prediction so I would say that definitely $100k can be achieved around 2024-2025 bull run.

It will be massive and we will break and have a new all time high. That's how every bull run is, so the best thing to do right now is prepare and stack sats, as much as you can.

[gunhell16]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC. Least am expecting by DEC is probably 70k bull.

It's okay to give predictions because it's our freedom and belief in Bitcoin. Although we also know that there is no guarantee that anyone's prediction will actually happen, it is just based on each individual's own opinion and speculation in this industry.

As long as I keep saving, until the Bitcoin halving ends, at least what I started will definitely not be wasted in the future. We are really sick of that as we get closer to the Bitcoin halving, the value of Bitcoin will really increase.

[Lucius]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I don't know who's the bigger fool in that story - the one who thinks Bitcoin will continue to grow 70% every few months (in the year prior to the halving), or the ones who "qoute" it as if it's worth mentioning at all. People who live in senseless illusions deserve to stay there, and when they are already there, I suggest that if they want to quote someone named Adam, let it be Black Adam😈

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC. Least am expecting by DEC is probably 70k bull.

These are not cities but countries, and regardless of the fact that you obviously don't pay attention in geography lessons, what does China or Nigeria have to do with the price of Bitcoin?

[Husires]

The only thing that moves like this is the linear function, where the price will increase at a specific price during a specific time. Bitcoin is not like that, as there is no linear pattern in the rise or correction, and the price movement is random and far from being verified.
We will be lucky if we get a price of $40,000 this year. We have risen significantly over the previous period.

[darkangel11]

The only thing that moves like this is the linear function, where the price will increase at a specific price during a specific time. Bitcoin is not like that, as there is no linear pattern in the rise or correction, and the price movement is random and far from being verified.
We will be lucky if we get a price of $40,000 this year. We have risen significantly over the previous period.

Although you're right that bitcoin doesn't have to progress like OP is suggesting, it could really do it because in bull market it keeps on going. We don't know what will happen because bitcoin relies on both internal and external factors. An internal factor is hash rate, number of users, state of exchanges, and external factors are the dollar index that depends on printing and rates, legislation, and many more.

The chart that you've posted is also biased and relies on a similar failed rally in 2019 where price kept going up to 14k and crashed to new lows. At that time there was no threat of recession, there was no FED pivot and the demand for decentralized money was much lower.

[passwordnow]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

I agreed with the price progression but it may not hit those percentage, what determinant factor do we hold on? that the big cities like U.S, China and Nigeria kicking against it can freely allow surviving of the price to hits such imaginable price of $100k by DEC.

Well, that's quite a good expectation but Bitcoin doesn't move like that for its pricing. Because volatility goes up and down and won't just have that movement so fast as per what you've put into sequence but anyway, I could also be wrong.

Least am expecting by DEC is probably 70k bull.

Hoping for that and that's one of the best price that it can reach for this year but I'll let everything happen and just observe until the halving comes. Because that's when the most exciting things comes, every time the halving is done.

[adaseb]

I think what we will get will be different from the past. We might get a mini bubble and trade sideways from there. There are way too many issues now with crypto regulations and also issues with the economy to head to $100K anytime this year.

Sure it would be great however you need to understand that many people think there is going to be a recession, there are banks tightening and inflation is still not at 2%. And with the OPEC mess last month we will probably get an uptick in inflation next month.

[mk4]

What he said was just theoretical, because what are the chances that we will have the exact(or similar) rates of increase quarter for quarter? Decently unlikely in my opinion. We'd have to have perfect market conditions(with little to no FUD) for that to happen.

[Sebas.tian]

Yes, the price of Bitcoin is progressing which many traders are smiling based on the bullish season that is about to take place in this period but it will be difficult for traders to experience $100,000 this year 2023. I think, the price of Bitcoin will reach $70,000 before the end of this year so that other cryptocurrencies price will increase too for their investors to have something good to achieve. I believe,  traders will definitely experience $80,000 next year because the price of Bitcoin will move to another level next year that will make traders to believe investing in Bitcoin is profitable.

[Frankolala]

Bitcoin price cannot be predicted with the information and I don't think that Adam understands the market analysis. It is impossible for bitcoin price to get to $140k this year when we haven't experience the halving.

So many bitcoin analyst,just comes out and give wrong speculation of bitcoin price from whatever thought that comes out from their understanding. Bitcoin price doesn't really have much influence by the banned on it by some countries. As long as other countries are adopting it and more people coming into the cryptospace,the price will always have a pump. Demand and supply is what control the dump and pump in bitcoin price.

[Jody.Drummer]

Yes, the price of Bitcoin is progressing which many traders are smiling based on the bullish season that is about to take place in this period but it will be difficult for traders to experience $100,000 this year 2023. I think, the price of Bitcoin will reach $70,000 before the end of this year so that other cryptocurrencies price will increase too for their investors to have something good to achieve. I believe,  traders will definitely experience $80,000 next year because the price of Bitcoin will move to another level next year that will make traders to believe investing in Bitcoin is profitable.

Everyone has an analysis, and it becomes personal consumption. Some say bitcoin will reach $100,000 this year, some say it won't and some even say this year we are still in the old bear market situation. It returns to our own analysis without forgetting the fundamentals that make bitcoin prices change at any time.
I personally don't actually focus on the price that bitcoin will achieve this year, because I believe sooner or later bitcoin will definitely make me smile more than now.

[dragonvslinux]

Adam Back said and i qoute him: in Q1 2023 bitcoin price increased from 31 dec 2022 - 31 mar 2023 by ~70% (~$16.6k->$28k). interesting to note if that rate continues bitcoin would be:  jun $48k,  sep $82k, dec $140k. or for $100k by 31st dec, price growth would need to fall from 70% to 53% for Q2,3,4.

For starters, I wouldn't trust Adam Back. He also believes price can reach $10 million per coin by 2032, which sounds ludicrous to me, as within 10 years seems way too soon for this price target.

Personally I think his initial target of $48K in June is possible, this would be a very similar bear market relief rally to 2019, even if a month or two too soon. However, the predictions after that seem out of touch with the reality of Bitcoin's 4 year cycles that so far very much remain in tact. The market would have to break it's 12-year long 4-year cycles in order to reach any targets such as $80K, let alone $100K by end of year. More relevantly, it'd have to continue a parabolic run until the end of the year, which seems like the most unlikely outcome given last year's bear market.

Anything is possible when it comes to Bitcoin. For all we know a major recession this year could push Gold and Bitcoin prices much higher, but so far I don't see this being very realistic.